10th Feb Daily Updates

2015 Delhi Legislative Assembly election result

Election Commission of India (ECI) has declared the results of Delhi Legislative Assembly election 2015.

Aam Aadmi Party (AAP) headed by social activist turned politician Arvind Kejriwal with 67 seats has emerged as the largest party in the house of 70 seats.

Arvind Kejriwal is going to take oath as Chief Minister on 14 February 2014 at Ramlila Maidan, Delhi.

Key facts

• Aam Aadmi Party (AAP) – Won record 67 seats with record vote share of 54.2% percent. It should be noted that AAP 1st party in Delhi to win with record 67 seats with more than 50% vote share in history of assembly elections.
• Bharatiya Janata Party (BJP) – Won 3 seats with vote share of 32.3% percent.
• While other big parties like Indian National Congress (INC), Bahujan Samaj Party (BSP), Shiromani Akali Dal (SAD) etc were not able to win single seat in this election.

Background

2015 Delhi Legislative Assembly election was held on 7 February 2015 to elect 70 members of the Delhi Legislative Assembly. Voter turnout for this election was recorded 67.14%, it was highest voter turnout in history of Delhi Legislative Assembly elections.

In this election Aam Aadmi Party (AAP) and Indian National Congress (INC) had contested 70 seats. While, Bharatiya Janata Party had contested 67 seats and its ally Shiromani Akali Dal (SAD) had contested 3 seats.

Economist Amartya Sen awarded inaugural John Maynard Keynes Prize 2015

Eminent Indian economist and Nobel laureate Amartya Senhas been awarded the inaugural Charleston-EFG John Maynard Keynes Prize 2015.

He was chosen for this award for his ground-breaking work that has profound impact on the formation of development policy worldwide and outstanding contribution to society.

Amartya Sen will receive £7,500 to commission a work of art. He will also give the annual Charleston-EFG Keynes Lecture on the topic The Economic Consequences of Austerity at the Charleston Festival on 23 May 2015.

About Amartya Sen

• Amartya Sen was born on 3 November 1933 in Manikganj district in British India (Now in Bangladesh).
• He is regarded as one of the foremost thinkers in the field of famine, poverty, social choice and welfare economics.
• He was teacher and a research scholar in the Department of Economics, Jadavpur University, West Bengal.. Currently, he is a Professor of Economics and Philosophy at Harvard University.
• His has authored more than 100 books which have been translated into more than 30 languages.

Awards: He has won many prestigious awards. Few of them are

• Nobel Memorial Prize in Economic Sciences in 1998 for his work in welfare economics.
• Bharat Ratna- India’s highest Civilian Award in 1999.
• National Humanities Medal in 2012.

About Charleston-EFG John Maynard Keynes Prize

It is an international award, instituted in the memory and spirit of British Economist John Maynard Keynes’ work, life and legacy.

The aim of this prize is to honour individuals from around the world who continue to embody Keynes’ extraordinary attributes.

PNB raises Rs. 1,000 crore via private placement 

i. State-owned Punjab National Bank has raised Rs. 1,000 crore through bonds to fund business growth and meet global capital adequacy norms.

ii. The bank has raised Rs. 1,000 crore long term bonds at an annual coupon of 8.23 per cent on Private Placement basis.

iii. The government has decided to provide Rs. 870 crore to the bank as part of capital infusion plan.
iv. Public sector banks require equity capital of Rs. 2.4 lakh crore by 2018 to meet the global, Basel III norms on capital adequacy. For the current fiscal, the government has allocated Rs. 11,200 crore for bank capitalisation.