Important Points @ Glance: Part 15
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The findings of the 2.6 million-word Iraq Inquiry —
seven years in the making — were recently released by probe chairman John
Chilcot in London. The official inquiry delivered a devastating indictment of
Britain’s decision to invade Iraq, finding that the war was based on flawed
intelligence and had been launched before diplomatic options were exhausted.
The probe chairman has said that Iraqi dictator Saddam Hussein posed “no
imminent threat” when the U.S-led invasion was launched in March 2003, and that
while military action against him “might have been necessary at some point,”
the “strategy of containment” could have continued for some time. The report
also notes that Blair’s decision to invade Iraq was influenced by his interest
in protecting the UK’s relationship with the United States. The inquiry was
commissioned in June 2009 by Blair’s successor, Gordon Brown, following
pressure from the public and Parliament.
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The finance ministry has set up a committee under
former chief economic adviser Shankar Acharya to examine the desirability and
feasibility of having a new fiscal year. Currently, India follows the
April-March fiscal year and all macroeconomic and company data, including the
government’s budget, are compiled and prepared for the same period. However,
most countries follow a January-December fiscal year. A committee of
secretaries headed by the cabinet secretary had earlier this year recommended
changing the fiscal year to January-December. The committee will examine the
merits and demerits of various dates for the start of the fiscal year,
including the existing dates. The committee has been asked to submit its report
by 31 December
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Russia has offered Indian oil companies a stake in the
second phase of Yamal LNG, the biggest project to produce liquefied natural gas
in the Arctic. The Russian firm holds 50.1% stake in the project that comprises
development of the South-Tambeyskoye field with proven deposits of 1.3 trillion
cubic meters of natural gas and the construction of natural gas liquefaction
plant (LNG) for producing 16.5 million tonnes of LNG a year by 2017.
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India is planning to seek greater market access in the
Japanese market for its farm products such as sesame seeds as well as for its
services professionals including nurses, during the upcoming joint committee
meeting. The focus on sesame seeds is because Japan is the world’s second
largest importer of the item (after China). Following the detection of
pesticides and insecticides such as DDT and malathion in some sesame seeds
consignments from India over two decades ago, Japan has been reluctant to
import the commodity from India. India is the world’s largest sesame seed
producer with an annual production of around 7 lakh tonnes. India is also the
world’s largest exporter of the item.
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The Navy’s dedicated base for its Special Operation
Forces – MARCOS – INS Karna was recently commissioned in Visakhapatnam. The
establishment of the first base for Indian Navy’s elite force with capability
to operate in all three dimensions of warfare – air, land and sea – in the home
port of the Navy on the Eastern Seaboard marks another milestone in Indian Navy
bonding with the city of Visakhapatnam.
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The Indian Army’s Strike 1 unit that is based in
Mathura recently demonstrated its capabilities to seamlessly cross rivers
during a training exercise along the Yamuna on a stretch near the cantonment
there. The exercise code named “Megh Prahar” was undertaken using the formation
of its spearhead armoured division that is based in Hisar, Haryana. It also
showcased the variety and versatility of equipment and the war-waging potential
of the DOT (department of transport). Megh Parhar would help in testing the
effectiveness of the T-90 & BMP-2 tanks of the Army in fighting along river
obstacles.
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The Union Government has started the operation ‘Sankat
Mochan’ to evacuate Indian citizens stranded in South Sudan’s capital Juba. The
operation is being undertaken by Indian Air Force (IAF) and will be headed by
Union Minister of State (MoS) for External Affairs General (Retd.) VK Singh.
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Pema Khandu is the new Chief Minister of Arunachal
Pradesh. At 37, he is also the youngest CM in the country.
Important Points @ Glance: Part 2
Important Points @ Glance: Part 3
Important Points @ Glance: Part 4
Important Points @ Glance: Part 5
Important Points @ Glance: Part 6
Important Points @ Glance: Part 7
Important Points @ Glance: Part 8
Important Points @ Glance: Part 9
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