12th Five Year Plan targets 4% farm growth:

The 12^th plan that will be submitted in April will set a target of 4 per cent for agricultural growth, Mr Abhijit Sen, Member (Agriculture), Planning Commission, has said.

IFRS & DTC

IFRS ( International Financial Reporting Standards )constitutes a set of financial reporting standards developed by the International Accounting Standards Board (IASB)- a nonprofit organization as a uniform set of standards for reporting financials of companies. India was expected to migrate to IFRS by April 1, 2011, but the migration was delayed by one year due to issues related to enactment of Direct Tax Code (DTC) Bill. The DTC is expected to be implemented from April 2012 onwards. 

India got ballistic missile defense capabilities

India successfully test fired an interceptor missile AAD-05 from the Wheeler island off Odisha. With this success, India joined a select band of four countries which have ballistic missile defense capabilities.

Defense Minister- A.K Anthony

Scientific adviser to the defense minister- V.K Saraswat

Terms of the day

BMD: Ballistic Missile Defense.
IIP: Index of Industrial Production
SPV: Special Purpose Vehicle

FTA: Free Trade Agreement

SEBI: Securities and Exchange Board of India

CTT: Commodities Transaction Tax

STT: Securities Transaction Tax (levied on sale and purchase of equity and equity-oriented mutual funds).

PMEAC- Prime Minister’s Economic Advisory Council

IFRS: International Financial Reporting Standards
IASB: International Accounting Standards Board
DTC: Direct Tax Code