Indian Current Affairs: 16.09.2009

Politics & the Nation

Some very interesting facts that we are exposed to about Gandhiji; as they appeared in today's ET editorial:

Sarojini Naidu’s is reported to have observed that it “cost the nation a lot to keep Gandhiji in poverty.”
Gandhiji always travelled third class on trains to bond with India’s poor millions. The British, unwilling to let him gain brownie points when riding in badly-maintained coaches, usually rustled up a special train, albeit with three clean third-class compartments for Gandhiji and his entourage. Gandhiji would then send his third class fare to the authorities so that he would not be “beholden” to them.

Finance & Economy

It was only yesterday that we were noting about this issue. Some more notings that would amplify what we learnt yesterday...
Dual-listed companies retain their separate legal identities and listings on stock exchanges while entering into “equalisation” agreements to collectively run operations and share profits or losses. Such arrangements are seen protecting the national identities of companies.
Dual listing is not allowed in India and will need major changes to key corporate laws.
Dual listing of shares requires changes in the Foreign Exchange Management Act and the Companies Act, which cannot be done in haste for the sake of one corporate deal, says the finance ministry
It also involves taking a policy call on full capital account convertibility, which the government will do at an appropriate time.

What better way to get to know about such concepts as dual listing than the "ET in the Classroom" columns? Here you go.

Take a look at this figure. The tax payments made some of the biggest tax payers in India appear to be indicating that recovery is well on track.

What is the apparent contradiction between the Essential Commodities Act, 1955 and the Forward Contracts (Regulation) Act, 1952?

Is there such a contradiction in the first place? Yes, it appears so. Take a look at this article which explains it in great detail. A well written piece. A must read for all of us.

Books

Reading books is perhaps not cherished by many belonging to the current generation. But Dan Brown's latest book "The Lost Symbol" is making waves. Perhaps you will recognize the work if we tell you the the name of the earlier work of the same author: "The Da Vinci Code". That's right. It is a sequel.
Take a look at this review. It has quite a few interesting facts in it that are worth remembering.

Obituary: Patrick Swayze

Know this actor? His sterling performances in movies like Dirty Dancing and Ghost are very well remembered by movie-goers.
He died on Monday after a long battle with pancreatic cancer. He was 57.
Swayze was diagnosed with advanced stage-four pancreatic cancer in January 2008, leaving him with only a one-percent chance of surviving longer than five years, according to medical experts. He bravely fought the disease in the public eye, continuing to work on set despite gruelling cancer treatment and significant weight loss.

Sport

Some of you were asking for the mixed doubles result. It is here:
Leander Paes and his partner Cara Black failed to defend their US Open mixed double crown, suffering a shock 2—6, 4—6 defeat at the hands of local wild cards Carly Gullickson and Travis Parrott here on Thursday.

Language Lessons

eg: The Congress footed the bill, no doubt, but if ministers and officials belatedly follow suit, the exchequer may be much the poorer for their last-minute abstemiousness.

The tendency to be untruthful
eg: The main problem with this approach is mendacity. It is simply not true that all countries of the world solemnly agreed on a coordinated stimulus.

Laugh quietly
The Great Recession began in December 2007, triggered by the US subprime mortgage crisis, and there was no question of coordination — Europeans patronisingly saw it as a peculiarity of the unregulated US markets. Third World countries had little exposure to toxic US assets, and they too sniggered at US discomfiture.

Indian Current Affairs