India, Australia discuss uranium exports

An important high-level meeting between India and Australia was held in New Delhi. At the meeting, Prime Minister Mr. Manmohan Singh and his visiting Australian counterpart Julia Gillard held talks on strengthening economic and strategic ties and explore cooperation in civil nuclear energy. The two leaders also discussed about Australia’s decision to overturn a long standing ban on exporting uranium to countries that have not signed the Nuclear Nonproliferation Treaty. India has not signed the treaty. Australia has 40 per cent of the world’s known uranium reserves.

RBI panel on financial inclusion

To spearhead the efforts to bring the entire population under the banking network, Reserve Bank of India (RBI), announced setting up of Financial Inclusion Advisory Committee (FIAC). It will be led by the RBI Deputy Governor K.C Chakrabarty. The panel is expected to ensure that financial inclusion and financial stability move in tandem.

Rangarajan panel

Government committee, led by C. Rangarajan, Chairman of the Prime Minister’s Economic Advisory Council has favoured complete decontrol of the sugar industry, dispensing immediately with the levy sugar obligation and administrative control on non-levy sugar. These recommendations are in line with the industry’s demand for easing controls.The committee also pitches for a stable trade policy and a moderate duty on imports and exports, but wants outright ban or quantitative restrictions done away with.