MGNREGA now guarantees 150 working days

A ministerial panel has decided to increase the number of guaranteed work days under Mahatma Gandhi National Rural Employment Guarantee Act(MGNREGA) to 150 days for one year and cut interest rates on crop loans to 7 percent for one year, according to sources. These decisions were approved by the EGoM on drought headed by Agriculture Minister Sharad Pawar to offer some relief to farmers in drought-affected states.

Four states—Karnataka, Gujarat, Maharashtra and Rajasthan—have declared drought in many sub-divisions. Monsoon deficiency in the country now stands at 9 percent.

Finance Minister P Chidambaram, Petroleum and Natural Gas Minister S Jaipal Reddy and Urban Development Minister Kamal Nath, are also members of the EGoM. 

MGNREGA is the scheme in which the government assures 100 days of work every year to each household in rural areas.

Generally, people avail of the benefit under the scheme during the off-season for agriculture. The government has provided Rs 33,000 crore to implement the scheme this fiscal, as against Rs 31,000 crore in 2011-12.

Somalia's new President

Somalia’s Parliament elected a new President for the country- Hassan Sheikh Mohamud beat out the Sharif Sheikh Ahmed(present President).

Mr. Ahmed had been the favourite heading into the election, so the result is a surprise to a nation which is in a process intended to establish a stable government in the war-torn country.

US Open summary

Men's singles:

Andy Murray(Britain) wins men's singles title defeating Novak Djokovic(Serbia).
Murray became the first British man since Fred Perry to lift the trophy at a major. He is also the 2012 London Olympics champion.

Women's singles:

Serena Williams(USA) won women's single title defeating Victoria Azarenka(Belarus, Current world no:1).
This is her 15th Grand Slam title and fourth at the US Open. 
The final was the first on the women’s side to stretch to three sets since 1995. She is also the 2012 London Olympics champion.

Men's doubles:
American twins Bob and Mike Bryan won men's doubles title defeating Leander Paes and Radek Stepanek.

Women's doubles:
Sara Errani and Roberta(Italians) won women's doubles title defeating Andrea Hlavackova and Lucie Hradecka.

Mixed Doubles:
The unseeded Ekaterina Makarova  and Bruno Soares won doubles title defeating Kveta Peschke  and Marcin Matkowski.




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Infosys makes a major acquisition

Infosys, announced the acquisition of Lodestone Holding AG, a leading management consultancy firm based in Zurich, for 330 million Swiss francs ($345 million or Rs.1,925 crore).
For this acquisition, Infosys will pay two-thirds of the amount immediately while the rest is to be paid after three years. Lodestone, which reported revenue of 200 million Swiss francs in 2011, derives 50 per cent of its revenues from Switzerland, and 23 per cent from Germany.
For a long time Infosys wasn't in the acquisition mode. This ends its waiting.