Current Affairs India - 29 May 2014

1. Prime Minister Narendra Modi quit his Vadodara Lok Sabha seat and chose to retain Varanasi seat in Uttar Pradesh. Samajwadi Party chief Mulayam Singh Yadav has quit from Mainpuri sit and has retained Azamgarh. As per rule, a member who has been elected from two Lok Sabha constituencies, has to vacate one of the seats within 14 days of the declaration of result.

The Prime Minister had won Vadodara with a near record margin of 5.7 lakh, which was the biggest in this Lok Sabha polls. BJP has won all the 26 seats in Gujarat.

2. The first session of the 16th Lok Sabha will be held from 4th June to 11th June after the decision was taken by the Union Cabinet at a meeting in New Delhi today. Parliamentary Affairs Minister Venkaiah Naidu said, on the first two-days of the session, newly-elected MPs will be sworn-in and on the 6th, Lok Sabha Speaker will be elected. Mr Naidu said, President Pranab Mukherjee will address a joint sitting of the two Houses of Parliament on 9th June.

3. India-s indigenously developed Pinaka rockets were successfully test-fired thrice today from a multi-barrel rocket launcher at an armament base in Chandipur. Pinaka, which has undergone several tough tests since 1995, has been inducted into the armed forces and the present trials were conducted with some improvements in the system.

The rockets with a range of 40 km and capable of acting as a force-multiplier, were developed to supplement artillery guns.

4. India-s largest private company, RIL announced that it will acquire control of Network 18 Media and Investments Ltd, including its subsidiary TV18 Broadcast Ltd for Rs 4,000 crore. Once completed, this will be the biggest ever deal in the Indian media sector.

NW18 is the owner of a suite of premier digital internet properties, e-commerce businesses and differentiated broadcast content. This suite includes,,,,,,; the broadcast channels include Colors, CNNIBN, CNBC TV18, IBN7, CNBC Awaaz.