August 1, 2011: Monsoon Session of
Parliament commences
August 1, 2011: The monsoon session of the
Parliament commences
Government decided to introduce 32 new
bills including the Lokpal Bill
Other key bills to be introduced include
Land Acquisition Bill, Food Security Bill,
the Benami Transactions Bill and the Mines
and Minerals Bill
Payment dispute of crude oil resolved b/w
Iran and India
Iran and India resolved the payment
disagreement that was bullying to arrest the
Iran’s crude exports to India
As per the National Iranian Oil Company
the two sides agreed to settle the bill as
soon as possible
Earlier, Iran had jeopardized to cut off
supplies to India in case of payments not
made by India till August 1, 2011
US sanctions on Iran made it hard to send
International bank payments
About 12% of India’s oil demand is met by crude
from Iran
Rajan Mathai: New Foreign Secretary of
takes charge
Rajan Mathai: New Foreign Secretary of
India took charge
Mr. Mathai was India’s former ambassador
to France
To hold office for a two-year term
He succeeds Nirupama Rao, who has been
named India’s
ambassador to the US
Mr. Rakesh Sood, India’s ambassador to
Nepal, will succeed Mathai
as New Delhi’s envoy in Paris
Export restrictions from cotton lifted by
Government
Government lifted export restrictions on
cotton
Now Cotton is allowed to be shipped under
Open General Licences for the rest of
the cotton season
Restrictions lifted as there is ample
stock of cotton in the country
After registering themselves with the
Directorate General of Foreign Trade,
Exporters free to export any quantity for
the remaining 2 months of the season
Government placed a cap on cotton exports
at 55 Lakh bales in October 2010 in
order to check spiralling prices and
ensure availability of the raw material for the
domestic textiles industry
As per the Cotton Advisory Board, due to
low industry demand over 50 Lakh
surplus bales to be available at the end of the current season
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