The Reserve Bank on 26 December 2011 tightened the prudential norms for the non-banking financial companies (NBFCs) under which the NBFCs will have to account for risks towards off-balance sheet items while computing capital adequacy requirement.
The NBFCs can thus participate in the credit default swap market only as users. As users, the NBFCs would be permitted only to hedge their credit risk on corporate bonds they hold. However, they are not permitted to sell protection. They are therefore not permitted to enter into short positions in the credit default contracts. NBFCs are however permitted to exit their bought CDS positions by unwinding them with the original counter-party or by assigning them in favour of buyer of the underlying bond.
RBI also tightened the capital adequacy norms for all NBFCs. The rule tightening exercise comes in the wake of their stepped-up exposure to off- balance sheet items.
The RBI revised capital adequacy norms for non-banking finance companies (NBFCs) with an objective to improve their capacity and help manage off-balance sheet exposure.
The regulatory framework was expanded to have greater granularity in the risk weights and credit conversion factors for different types of off-balance sheet items.
The RBI prescribed that the total risk weighted off-balance sheet credit exposure be calculated as the sum of the risk weighted amount of the market-related and non-market related off-balance sheet items. The RBI specified that for the off-balance sheet items already contracted by NBFCs, the risk weight shall be applicable with effect from the financial year beginning 1 April 2012.
As per the apex bank, off-balance sheet exposures of NBFCs have increased with the increased participation in the designated currency options and futures and interest rate futures as clients for the purpose of hedging their underlying exposures.
Asset liability management for NBFCs had become complex and large, requiring strategic management with a greater use of derivatives.
In the normal course of their business, NBFCs are exposed to credit and market risks due to asset-liability transformation as the Indian markets are now more integrated with global ones.
Wednesday 28 December 2011
China launched a High-Speed Bullet Train in Quingdao, Shandong
China on 23 December 2011 launched a high-speed bullet train in Quingdao, Shandong province. Its speed can reach up to 500 kilometre per hour. The train was launched by China’s largest rail vehicle maker, CSR Corp. Ltd. The six-car train has a maximum tractive power of 22800 kilowatts, compared with 9600 kilowatts for the CRH380 trains.The train is made from plastic materials reinforced with carbon fibre. It is designed to resemble an ancient Chinese sword.
CRH 380 trains are currently in service on the Beijing-Shanghai High-speed Railway. It holds the world speed record of 300 kilometres per hour.China has the largest network of bullet-train track in the world, with 8000 miles of track.
CRH 380 trains are currently in service on the Beijing-Shanghai High-speed Railway. It holds the world speed record of 300 kilometres per hour.China has the largest network of bullet-train track in the world, with 8000 miles of track.
WGEEP designated Entire Western Ghats Ecologically Sensitive
The WGEEP (Western Ghats expert Panel) designated entire Western Ghats as an Ecologically Sensitive Area. The panel in its report classified the 142 taluks in the Western Ghats boundary into Ecologically Sensitive Zones (ESZ) 1, 2 and 3.
The report further recommended that no new dams should be allowed in Ecologically Sensitive Zone 1. The report added that Both the Gundia of Karnataka and Athirappilly of Kerala hydel projects should be denied environmental clearance because these sites fall in Ecologically Sensitive Zone 1.
The report further recommended that no new dams should be allowed in Ecologically Sensitive Zone 1. The report added that Both the Gundia of Karnataka and Athirappilly of Kerala hydel projects should be denied environmental clearance because these sites fall in Ecologically Sensitive Zone 1.
2012 declared as National Mathematical Year as a Tribute to Mathematician Srinivasa Ramanujan
Prime Minister Manmohan Singh on 26 December 2011 declared the birthday of the great mathematician Srinivasa Ramanujan, 22 December as National Mathematics Day. Singh also declared 2012 as the National Mathematical Year as a tribute to the great mathematician Srinivasa Ramanujan.
The Ramanujan Mathematical Society (RMS) will hold a series of activities in 2012 (National Mathematical Year) to mark the 125th birth anniversary of mathematician Srinivasa Ramanujan.
Prime Minister Manmohan Singh inaugurated the year-long celebrations at the Madras University Auditorium to mark the 125th birth anniversary of Ramanujan.
The activities to be organised as a part of the year long celebration were planned to involve different sections, including school-goers, college students, students pursuing their research in mathematics and others interested in developments in the discipline.
In the programmes involving school students, for instance, talks and activities would focus on helping them get rid of their fear of the subject.
The biography of Ramanujan by Robert Kanigel in regional languages has been planned . A documentary, tracing the history of mathematics in India, would also be made.
The year-long celebrations of Ramanujan birth anniversary would culminate in an international conference of mathematicians in New Delhi in December 2012.
On the occasion, Manmohan Singh also expressed concern over a slide in the number of students pursuing higher studies in mathematics. He also expressed concern over the sharp decline in the number of quality mathematics teachers in schools and colleges.
RMS president and chair of the organising committee M.S. Raghunathan declared on 26 December 2011 that a mathematics centre named after Ramanujan would be set up in Chennai. It would have a host of facilities, including a museum.
The Ramanujan Mathematical Society (RMS) will hold a series of activities in 2012 (National Mathematical Year) to mark the 125th birth anniversary of mathematician Srinivasa Ramanujan.
Prime Minister Manmohan Singh inaugurated the year-long celebrations at the Madras University Auditorium to mark the 125th birth anniversary of Ramanujan.
The activities to be organised as a part of the year long celebration were planned to involve different sections, including school-goers, college students, students pursuing their research in mathematics and others interested in developments in the discipline.
In the programmes involving school students, for instance, talks and activities would focus on helping them get rid of their fear of the subject.
The biography of Ramanujan by Robert Kanigel in regional languages has been planned . A documentary, tracing the history of mathematics in India, would also be made.
The year-long celebrations of Ramanujan birth anniversary would culminate in an international conference of mathematicians in New Delhi in December 2012.
On the occasion, Manmohan Singh also expressed concern over a slide in the number of students pursuing higher studies in mathematics. He also expressed concern over the sharp decline in the number of quality mathematics teachers in schools and colleges.
RMS president and chair of the organising committee M.S. Raghunathan declared on 26 December 2011 that a mathematics centre named after Ramanujan would be set up in Chennai. It would have a host of facilities, including a museum.
Monday 26 December 2011
Many Key decisions taken in Urban Development Ministry to facilitate common people
Metro Rail System
In one the very significant moves the third phase of the Delhi Metro project of 103.05 km has been approved this year. This phase includes - Mukundpur -Yamuna Vihar corridor of 55.69 Kms, Janakpuri West- Kalindikunj corridor of 33.49 kms, Central Secretariat - Kashmere Gate 9.37kms and Jahangirpuri -Badli 4.489 kms. There will be a total of 67 stations with 15 inter-change points, which will facilitate ridership. The project is expected to be completed by March 2016. With the completion of Phase III, the estimated ridership on Delhi Metro is expected to be 39.50 lakh in 2016, 48.32 lakh in 2021 and 65.62 lakh in 2031. The completion cost of project is estimated to be Rs. 35,242 crore.
With work beginning on Phase III of Delhi Metro Rail Corporation, it has been decided to expand the metro network further, and DMRC has already been directed to prepare a detailed project report (DPR) for Phase IV, which is likely to add another 104 km to the metro network.
The DPRs for Phase IV are likely to be ready within the next 18 months.
By 2021, when all four phases of Delhi Metro project are complete, Delhi will have 428 km of Metro network, making it among the largest metro network connection in the world.
It has also been decided that cities having a population of 20 lakh or more will soon have Metro facility. This comes as a big relief to the people of numerous cities in the country. This move has been initiated to meet the increasing needs of the nation for an improved and efficient transit system.
Regional Rapid Transit System (RRTS)
In an attempt to further ease commuting in NCR Urban Development Minister Mr. Kamal Nath has approved “in-principle” the concept proposal of implementing Regional Rapid Transit System (RRTS) in three important corridors in the NCR viz. Delhi-Gurgaon-Alwar, Delhi-Sonepat-Panipat and Delhi-Ghaziabad-Meerut. The high speed connectivity between the regional centres of NCR and Delhi will make the physical distance shorter and allow these regional towns to capture the economic impulse and density generated by Delhi. Efforts are on to integrate RRTS with the Delhi Metro. This faster connectivity will reduce pressure on the National Capital’s infrastructure by opening up the region including regional housing market.
National Common Mobility Card (NCMC)
To add to commuter comfort this year in December National Common Mobility Card (NCMC), by the name ‘More’, has been launched. The brand name has been chosen “More” signifying the national bird “Peacock” as also literally in English meaning ‘more’ to convey that you get more and more by using this card.
The idea of NCMC is to promote the user to perceive it as a single transport system and provide the commuter with a seamless, efficient and hassle free travel experience across the length and breadth of the country. Seamless connectivity across multiple modes of transportation will increase the popularity and acceptability of public transport nationally and make public transport more appealing to the end user. The Ministry of Urban Development, under the National Urban Transport Policy, envisages a single ticketing system over not only all modes of public transport in India but also for parking and toll. For this purpose, it is spearheading a national program of inter-operable Automatic Fare Collection (AFC) systems. This means that a single CMC card can be used across cities and different modes of transport. The implementation of ‘More’ will be partly funded by Central Government under the JNNURM scheme covering the buses sanctioned under the scheme.
The National Capital Territory of Delhi Laws (Special Provisions) Second Bill, 2011
In another significant development the Parliament has passed the “The National Capital Territory of Delhi Laws (Special Provisions) Second Bill, 2011” to make special provisions for the National Capital Territory of Delhi (NCTD) for a further period of three years from 1st January, 2012 to 31st December, 2014. This is in continuation of the National Capital Territory of Delhi Laws (Special Provisions) Act, 2011 which is valid up to 31 December 2011.
The proposed act will provide temporary relief and minimize avoidable hardship and irreparable loss to the people of NCTD, while facilitating realistic revision of Master Plan for Delhi (MPD-2021) and ensuring its smooth implementation by maintaining status quo in the entire National Capital Territory of Delhi.
No punitive action shall be taken till 31st December, 2014, in any area of NCTD provided compliance is made to such directions, as the Central Government may give from time to time, and that any punitive action required to be taken by the local authorities shall be carried only with the specific approval of the Administrator of Delhi.
Despite the protection being provided certain fundamental safety measures such as structural stability, fire safety, etc. as provided under the relevant building bye laws, will not be compromised. Also no relief shall be available from encroachment on public land, except where explicitly covered under the Act.
JNNURM
Meanwhile JNNURM has completed six years in December, 2011. The Mission is on a fast track with several States exhausting their seven year allocation commitments. Under the Sub-Mission for Urban Infrastructure and Governance (UIG), which focuses on select 65 mission cities, a total of about 532 projects have been sanctioned covering 65 cities in 31 States and Union Territories (UTs) in the country till March 31, 2011. The cost of all sanctioned projects is estimated at Rs. 60,528.99 crore. The Additional Central Assistance (ACA) committed is Rs. 27,960.30 crore for these sanctioned projects. A total of Rs. 6,592.89 crore has been utilized in 2010-11, under UIG.
Under the component for Urban Infrastructure Development for Small and Medium Towns Scheme (UIDSSMT), which focuses on other small & medium towns, a total of about 767 projects have been sanctioned covering 644 towns in the country till 31st March, 2011. The cost of all sanctioned projects is estimated at Rs. 12,947.51 crore. The Additional Central Assistance committed is Rs. 10,450.33 crore for these sanctioned projects. A total of Rs. 2,676 crore has been utilized in 2010-11, under UIDSSMT.
The year remained a very active one for the Ministry of Urban Development which has laid the foundation for rapid growth in conveniences for the common people.
Constitutional Status Accorded to Tribes of North-Eastern States
Parliament has approved the according of Constitutional Scheduled Tribal status to certain tribes in the North-eastern states of Manipur and Arunachal Pradesh.
The Constitution (Scheduled Tribes) Order (Amendment) Bill 2011 seeks to give Scheduled Tribes status to six communities of Manipur and substitute the name of one in the list of Arunachal Pradesh.
In his reply to the brief debate in the Rajya Sabha, Union Tribal Affairs Minister Shri V. Kishore Chandra Deo said the Bill to amend the original Constitution (Scheduled Tribes) Order, 1950 meets a long-standing demand.
Communities like Rongmei, input, Liangmai, Zemi, Thangal And Mate of Manipur will get tribal status once the bill, ultimately becomes law in due course. Along with this, Galong which is a Distorted version of the original word galo gets corrected. The State Government had been recommending change in the Nomenclature for a long time.
The Constitution (Scheduled Tribes) Order (Amendment) Bill 2011 seeks to give Scheduled Tribes status to six communities of Manipur and substitute the name of one in the list of Arunachal Pradesh.
In his reply to the brief debate in the Rajya Sabha, Union Tribal Affairs Minister Shri V. Kishore Chandra Deo said the Bill to amend the original Constitution (Scheduled Tribes) Order, 1950 meets a long-standing demand.
Communities like Rongmei, input, Liangmai, Zemi, Thangal And Mate of Manipur will get tribal status once the bill, ultimately becomes law in due course. Along with this, Galong which is a Distorted version of the original word galo gets corrected. The State Government had been recommending change in the Nomenclature for a long time.
Maritime Agenda 2010-20 Launched
1. Maritime Agenda for the decade 2010-2020:
The Ministry of Shipping has launched Maritime Agenda 2010-20 in January, 2011. The Agenda is a perspective plan of the Ministry for this decade and gives a visit and road map for comprehensive development of the maritime sector. The overall vision of the Ministry as per the Maritime agenda aims towards navigating and steering the Indian Maritime sector realistically into the premier maritime nations of the world. This document basically presents an agenda in the Shipping Sector for consideration within overall objective to increase efficiency of the delivery system and overall pace of growth in the sector. Indeed, this is a path breaking document which will serve as road map for all ports (major as well as non-major ports) and the shipping sector during the decade 2010-2020
2. 12th Five Year Plan (2012-2017):
The Planning Commission constituted a Working Group on Shipping & Inland Water Transport for the formulation of Twelfth Five Year Plan 2012-17 under the Chairmanship of Secretary (Shipping). The Working Group in its report submitted to the Planning Commission has recommended the fund requirement of Rs.90,519 crores for the Shipping sector which includes Rs.10,499.00 crores as GBS, Rs.2340.00 crores State Govt. Funding and Rs. 77,680 as private investment/IEBR as per details given below:
(Rs. In crores)
| Sr. No. | Major Head of Expenditure | GBS | State Govts. | Private Investment/ IEBR | Total |
| 1 | Ship Acquisition | - | - | 60,000 | 60,000 |
| 2. | Restructuring of the Regulatory Regime | 546 | - | - | 546 |
| 3. | DG (Shipping) | 150 | - | - | 150 |
| 4. | IMU | 1,280 | - | - | 1,280 |
| 5. | Training & Welfare | 828 | - | - | 828 |
| 6. | Seafarers Safety. | 30 | - | - | 30 |
| 7. | Coastal Shippiing. | 2,835 | 1,200 | 12,360 | 16,395 |
| 8. | Multimodal Transport | - | - | - | - |
| 9. | Lighthouses & Lightships | 790 | - | - | 790 |
| 10. | IWT | 4,040 | 1,140 | 5,320 | 10,500 |
| | Total: | 10,499 | 2,340 | 77,680 | 90,519 |
3. Shipping Corporation of India:
The Shipping Corporation of India Ltd. (SCI), a Navratna company is the largest shipping company in India, owns a fleet of 81 vessels of 33 lakhs gross tonnage (GT) i.e. 58 lakhs DWT with a share of nearly 1/3rd of the total Indian tonnage. During the 11th Plan SCI proposed to acquire 62 vessels at a cost of approximately Rs.13,000 crores out of which they have taken delivery of 26 vessels so far. Out of the 62 vessels proposed for acquisition during the 11th Plan, they have placed orders for construction of 36 vessels with different shipyards and have acquired 3 Resale vessels. Except for the last two years (i.e. 2009-10 and 2010-11) when SCI’s profit was affected due to the global economic crisis, the SCI has been making profit of over Rs.800 crores for each of the previous 5 years i.e. from 2004-05 to 2008-09. SCI declared a profit of Rs.567.35 crores for the year (2010-11) ended March, 2011 and declared a final dividend of 25% on the paid up share capital in addition to the interim dividend of 30% paid during financial year 2010-11.
4. Cochin Shipyard Limited:
Year at a Glance:
2011-12 (April- November, 2011)
Delivered 3 Platform Supply Vessels.
Launched 2 Anchor Handling Tug Supply Vessels for Shipping Corporation of India on 19th July 2011.
500 T SWL Bollard Pull Testing Facility set up by Cochin Shipyard at Vizhinjam was dedicated to the Nation on 23 September 2011.
Financial Performance of CSL:
Cochin Shipyard continued its stellar performance for the fifth year in a row. The turnover for the year 2010-11 was Rs.1461.72 Crores as compared to Rs.1416.92 Crores in the last year. The net profit for the year 2010-11 was Rs.227.53 Crores as compared to Rs.223.04 Crores for the last year. This performance is creditable especially in the light of the withdrawal of government subsidy to shipbuilding since August 2007.
5. Central Inland Water Transport Corporation (CIWTC):
| The principal activity of the Corporation is transportation of cargo by barges through Inland Waterways in the country and through the routes identified in the Protocol on Inland Water Transport between India and Bangladesh. |
| |
| The Corporation also operates and maintains the biggest IWT terminals in the country i.e. T. T. Sheds at Kolkata apart from the terminals at Karimganj and Badarpur in Assam. |
6. Major Achievements of CIWTC During The Year 2011 – 12:
During this year, agreements with regard to 11 (eleven) vessels of the Corporation for Bare Boat charter hire for 5 (five) years (+ extendable by 5 years) period have been signed. One number Oil Tanker – M.T. Naharkatia put on bare boat charter and the agreement would be signed shortly.
7. Directorate General of Lighthouses & Lightships:
Following schemes in the financial year 2011-2012 are under implementation:-
Establishment of Vessel Traffic Service in Gulf of Kachchh at a cost of Rs. 165 Crore. Establishment of National AIS Network (Rs.75.20 crore).
Automation of Lighthouses in Cochin, Chennai, Vishakhapatnam & Kolkata Lh Distt. (Rs.30.45 Crore).
Automation of Lighthouses in Port Blair Lighthouse district.
(Rs.6.52 crore).
Establishment of new Lighthouses at Chilka (Orissa Coast),
Rava (Andhra Coast), Barua (Andhra Coast), Maipura
(Orissa Coast), Markanam.
Establishment of five lighted beacons in A&N Islands.
Presently Directorate General holds inventory of 185 General Lighthouses, 1 Lightship, 23 Differential Global Positioning System (DGPS), 64 Radar Beacons (Racons), 21 Deep Sea Lighted Buoys & 2 Wreck Marking Buoys.
8. Inland Water Transport:
The development and maintenance of National waterways (NWs)1,2, & 3 (the Ganga, the Brahmaputra and the West Coast Canal) by providing/ upgrading/ maintaining Inland Water Transport (IWT) infrastructure namely fairway, navigational aids and terminals were continued by Inland Waterways Authority of India (IWAI).
An important highlight of 2011-12 was selection of a private agency for developing infrastructure and transportation of 3 million tonne per year of imported coal from Sagar/ Sandheads to Farakka power plant of NTPC Ltd through inland waterways for a period of 7 years and signing of Tripartite Agreement among IWAI, NTPC Ltd and Jindal ITF Ltd in August 2011 thereof. Success of this project may pave way for many other such projects which could revive the IWT sector on Ganga and Brahmaputra rivers.
Another significant activity was transportation of project cargo by inland waterways (through Bangladesh) for ONGC’s Palatana powerplant in Tripura which became possible due to declaration of Ashuganj as a new port of call under Indo-Bangladesh Protocol on inland water transit trade.
The proposal to use an alternative route bypassing Core Area of Sunderbans Tiger Reserve. This route has been made operational w.e.f 1st June, 2011, within a short span of 5 months. Besides helping in the preservation of the flora and fauna of the unique biosphere reserve of the Sunderbans, it will prevent poaching; illegal infiltration and facilitate enhanced vigil on Indo-Bangladesh border by Border Security Force.
Ro-Ro terminals at Wilingdon island and Bolghatty in Cochin Port Trust area to provide connectivity between NW-3 and International Container Transhipment Terminal, Vallarpadam commissioned in February, 2011. On an average, about 250 containers (TEUs) are being moved per day through this facility
In order to ensure safety of navigation in NW-1 & NW-2, DGPS stations are already established in Bhagalpur in NW-1 and Jogighopa in NW-2. New stations are being commissioned at Swaroopganj and Patna in NW-1 and Silghat and Dibrugarh in NW-2 shortly.
Under Kaladan Multimodal Transit Transport Project in Myanmar, construction of Sittwe port is in progress through an Indian contractor (M/s Essar Projects (I) Pvt Ltd). The IWT and Port components are targeted to be completed by June, 2013.
9. India Sri Lanka Ferry Service:
Pursuant to a Memorandum of Understanding (MoU) signed between India and Sri Lanka on 07 Janaury, 2011 in Colombo for commencement of passenger transportation by sea between the two countries, passenger ferry service between Tuticorin and Colombo has been started w.e.f. 13.06.2011.
10. Port Sector:
Government has identified 23 projects for award during to increase the capacity of ports by 236.63 MTPA (Million Tons per annum) with an estimated investment of Rs. 16,743.92 Crores under PPP mode.
A project for development of 4th Container Terminal on BOT basis was awarded to M/s PSA Mumbai Investment Pvt. Ltd. on 26th September, 2011.
A draft report of Working Group for Port Sector for the Twelfth Five Year Plan (2012-17) was sent to the Planning Commission on 3rd November, 2011 for consideration and approval.
Regarding Rail-road connectivity to Ports: The work of 18.3 Kms four-lane Elevated Expressway from Chennai Por4t to Maduravoyal on National Highway 4 is in progress. The work of Chennai-Ennore Port Road Connectivity of 29.3 Kms has been started in June, 2011. The work of 4-laning of Tuticorin-Madurai Road (NH-45B) with road length of 144 Kms has been completed. The 2-lane Port Connectivity to ICTT, Vallarpadam, Cochin has been completed and work of 4-lane connectivity is on near completion.
The work of Haridaspur-Paradip new railway line is in progress and likely to be completed by march, 2015. For Mormugao Port, doubling of Hospect-Vsasco Section rail-line, work is likely to be started.
11. India Maritime 2012:
In line with the fast pace development of Indian maritime sector and further developments required by Indian Ports for handling future cargo traffic, the Ministry of Shipping and Federation of Indian Chamber of Commerce & Industry(FICCI) jointly propose to conduct a mega event for the first time in the port sector titled “India Maritime-2012” during 17-20 October, 2012 at Goa. This event will provide a platform to shipping lines and organizations involved in the port infrastructure and management, cargo handling, ship builders and manufacturers, ancillary suppliers and other related service providers to showcase their capabilities.
12. Corporate Social Responsibility (CSR) for Major Ports:
Taking into account the economic, social and environmental impact of activities of the Major Ports on the society and the environment, 12 major ports in the country have been directed to create a mandatory CSR budget setting apart a certain part of their net profit every year towards activities mentioned in possible areas as at Annexure.
13. Multi User Liquid Terminal (MULT) project at Cochin Port Trust:
The Cochin Port Trust handles general, dry bulk cargo, fertilizers and oil cargo. The Ernakulam Wharf have 5 berths(Q5,Q6,Q7,Q8 & Q9) handling general and dry bulk cargo, Q10 handles fertilizers and three oil berths viz. Cochin Oil Terminal(COT), Non Tanker Berth(NTB) and South Tanker Berth(STB). Crude oil is being handled at the Single Point Mooring (SPM) facility provided by Bharat Petroleum Corporation Ltd.(BPCL)-Kochi Refineries(KR) and at Cochin Oil Terminal(COT). Petroleum Oil and Lubricants(POL) products are presently handled at COT Non Tanker Berth(NTB) and South Tanker Berth(STB). To avail deep water facilities, the Port is presently developing new facilities at Vallarpadam and Puthuvypeen area which have been declared as Port based Special Economic Zones(SEZ). The facilities which are recently developed/being developed include i) development of International Container Transshipment Terminal(ICTT) at Vallarpadam SEZ, (ii) development of Tank Farms at Puthuvypeen SEZ area for storage of crude oil received at the SPM and (iii) development of captive Liquefied Natural Gas Port and Regasification Terminal by M/s Petronet LNG Limited. In order to cater to these developmental plans, a Multi User Liquid Terminal(MULT) project at Cochin Port is under consideration.
Sunday 25 December 2011
TIME Person of the Year 2011
'The Protester' is the Time's 2011 Person of the Year, as the magazine honoured those who stood up for common people, from India's anti-graft crusader Anna Hazare to Tunisia's street vendor Mohammed Bouazizi, who set himself on fire sparking the Arab Spring. 
Protester is rising in the world in a large scale, many reasons can behind them. Many global protest or movements like that, the Arab Spring, the Indignants Movement and Occupy Movement – as well as protests in Greece, Protest in India and Russia, and among others countries. Person of the Year (formerly Man of the Year) is an annual issue of the United States newsmagazine Time that features and profiles a person, couple, group, idea, place, or machine that "for better or for worse, ...has done the most to influence the events of the year."
The tradition of selecting a Man of the Year began in 1927 with Time editors contemplating newsworthy stories possible during a slow news week. The idea was also an attempt to remedy the editorial embarrassment earlier that year of not having aviator Charles Lindbergh on its cover following his historic trans-Atlantic flight. By the end of the year, it was decided that a cover story featuring Lindbergh as the Man of the Year would serve both purposes.
History often emerges only in retrospect. Events become significant only when looked back on. No one could have known that when a Tunisian fruit vendor set himself on fire in a public square in a town barely on a map, he would spark protests that would bring down dictators in Tunisia, Egypt and Libya and rattle regimes in Syria, Yemen and Bahrain. Or that that spirit of dissent would spur Mexicans to rise up against the terror of drug cartels, Greeks to march against unaccountable leaders, Americans to occupy public spaces to protest income inequality, and Russians to marshal themselves against a corrupt autocracy. Protests have now occurred in countries whose populations total at least 3 billion people, and the word protest has appeared in newspapers and online exponentially more this past year than at any other time in history.
Is there a global tipping point for frustration? Everywhere, it seems, people said they'd had enough. They dissented; they demanded; they did not despair, even when the answers came back in a cloud of tear gas or a hail of bullets. They literally embodied the idea that individual action can bring collective, colossal change. And although it was understood differently in different places, the idea of democracy was present in every gathering. The root of the word democracy is demos, "the people," and the meaning of democracy is "the people rule." And they did, if not at the ballot box, then in the streets. America is a nation conceived in protest, and protest is in some ways the source code for democracy — and evidence of the lack of it.
The protests have marked the rise of a new generation. In Egypt 60% of the population is under the age of 25. Technology mattered, but this was not a technological revolution. Social networks did not cause these movements, but they kept them alive and connected. Technology allowed us to watch, and it spread the virus of protest, but this was not a wired revolution; it was a human one, of hearts and minds, the oldest technology of all.
Everywhere in the year 2011, people have complained about the failure of traditional leadership and the fecklessness of institutions. Politicians cannot look beyond the next election and they refuse to make hard choices. That's one reason we did not select an individual this year. But leadership has come from the bottom of the pyramid, not the top. For capturing and highlighting a global sense of restless promise, for upending governments and conventional wisdom, for combining the oldest of techniques with the newest of technologies to shine a light on human dignity and, finally, for steering the planet on a more democratic though sometimes more dangerous path for the 21st century, the Protester is TIME's 2011 Person of the Year.
Is there a global tipping point for frustration? Everywhere, it seems, people said they'd had enough. They dissented; they demanded; they did not despair, even when the answers came back in a cloud of tear gas or a hail of bullets. They literally embodied the idea that individual action can bring collective, colossal change. And although it was understood differently in different places, the idea of democracy was present in every gathering. The root of the word democracy is demos, "the people," and the meaning of democracy is "the people rule." And they did, if not at the ballot box, then in the streets. America is a nation conceived in protest, and protest is in some ways the source code for democracy — and evidence of the lack of it.
The protests have marked the rise of a new generation. In Egypt 60% of the population is under the age of 25. Technology mattered, but this was not a technological revolution. Social networks did not cause these movements, but they kept them alive and connected. Technology allowed us to watch, and it spread the virus of protest, but this was not a wired revolution; it was a human one, of hearts and minds, the oldest technology of all.
Everywhere in the year 2011, people have complained about the failure of traditional leadership and the fecklessness of institutions. Politicians cannot look beyond the next election and they refuse to make hard choices. That's one reason we did not select an individual this year. But leadership has come from the bottom of the pyramid, not the top. For capturing and highlighting a global sense of restless promise, for upending governments and conventional wisdom, for combining the oldest of techniques with the newest of technologies to shine a light on human dignity and, finally, for steering the planet on a more democratic though sometimes more dangerous path for the 21st century, the Protester is TIME's 2011 Person of the Year.
The Protester
Once upon a time, when major news events were chronicled strictly by professionals and printed on paper or transmitted through the air by the few for the masses, protesters were prime makers of history. Back then, when citizen multitudes took to the streets without weapons to declare themselves opposed, it was the very definition of news — vivid, important, and often consequential. In the 1960s in America they marched for civil rights and against the Vietnam War; in the '70s, they rose up in Iran and Portugal; in the '80s, they spoke out against nuclear weapons in the U.S. and Europe, against Israeli occupation of the West Bank and Gaza, against communist tyranny in Tiananmen Square and Eastern Europe. Protest was the natural continuation of politics by other means.
Prelude to the Revolutions
It began in Tunisia, where the dictator's power grabbing and high living crossed a line of shamelessness, and a commonplace bit of government callousness against an ordinary citizen — a 26-year-old street vendor named Mohamed Bouazizi — became the final straw. Bouazizi lived in the charmless Tunisian town of Sidi Bouzid, 125 miles south of Tunis. On a Friday morning almost exactly a year ago, he set out for work, selling produce from a cart. Police had hassled Bouazizi routinely for years, his family says, fining him, making him jump through bureaucratic hoops. On Dec. 17, 2010, a cop started giving him grief yet again. She confiscated his scale and allegedly slapped him. He walked straight to the provincial-capital building to complain and got no response. At the gate, he drenched himself in paint thinner and lit a match.
Prelude to the Revolutions
It began in Tunisia, where the dictator's power grabbing and high living crossed a line of shamelessness, and a commonplace bit of government callousness against an ordinary citizen — a 26-year-old street vendor named Mohamed Bouazizi — became the final straw. Bouazizi lived in the charmless Tunisian town of Sidi Bouzid, 125 miles south of Tunis. On a Friday morning almost exactly a year ago, he set out for work, selling produce from a cart. Police had hassled Bouazizi routinely for years, his family says, fining him, making him jump through bureaucratic hoops. On Dec. 17, 2010, a cop started giving him grief yet again. She confiscated his scale and allegedly slapped him. He walked straight to the provincial-capital building to complain and got no response. At the gate, he drenched himself in paint thinner and lit a match.
A Year in the Making
The 2011 Person of the Year issue is the product of a year's worth of reporting and thinking. From the beginning of the Arab Spring, we dedicated an abundance of resources to this world-historical story. We also watched as the germ of protest spread to Europe and then America and now Russia. Last month, Kurt Andersen and I took a trip to Egypt and Tunisia to trace this spirit of revolution to its roots. Kurt, one of America's finest essayists and novelists, wrote the sweeping piece that explains the links and the larger meaning among the protests in dozens of countries. We were accompanied on that trip by deputy international editor Bobby Ghosh, Cairo correspondent Abby Hauslohner and reporter Rania Abouzeid, who is based in Lebanon.
Time termed as "remarkable" the common cause of the protests.
"Everywhere they are disproportionately young, middle class and educated. Almost all the protests this year began as independent affairs, without much encouragement from or endorsement by existing political parties or opposition bigwigs.
All over the world, the protesters of 2011 share a belief that their countries' political systems and economies have grown dysfunctional and corrupt sham democracies rigged to favor the rich and powerful and prevent significant change."
It said in Egypt the incitements were a "preposterously fraudulent" 2010 national election and the common act of "unforgivable" brutality by security agents.
In the US, three acute and overlapping money crises tanked economy, systemic financial recklessness, gigantic public debt along with ongoing revelations of double dealing by banks and the refusal of Congress to consider even slightly higher taxes on the very highest incomes "mobilized Occupy Wall Street and its millions of supporters."
In Russia it was the realization that "another six (or 12) years of Vladimir Putin might not lead to greater prosperity and democratic normality."
Time said people used the power of the internet, mobilising support for their cause though social networking sites Facebook and Twitter.
Protesters "used the Internet to find one another and take to the streets to insist on fairness and (in the Arab world) freedom." "They were all unhappy, they wanted change and they wanted better life," Time said. "Everybody is out there to unite their power for one common cause, one common expressionto get a better life". From Sidi Bouzid, Alexandria, Cairo to Madrid, Athens, London, Mexico, India and Chile, "citizens mobilized against crime and corruption; the loathing and anger at governments and their cronies became uncontainable and fed on itself," it said.
Time termed as "remarkable" the common cause of the protests.
"Everywhere they are disproportionately young, middle class and educated. Almost all the protests this year began as independent affairs, without much encouragement from or endorsement by existing political parties or opposition bigwigs.
All over the world, the protesters of 2011 share a belief that their countries' political systems and economies have grown dysfunctional and corrupt sham democracies rigged to favor the rich and powerful and prevent significant change."
It said in Egypt the incitements were a "preposterously fraudulent" 2010 national election and the common act of "unforgivable" brutality by security agents.
In the US, three acute and overlapping money crises tanked economy, systemic financial recklessness, gigantic public debt along with ongoing revelations of double dealing by banks and the refusal of Congress to consider even slightly higher taxes on the very highest incomes "mobilized Occupy Wall Street and its millions of supporters."
In Russia it was the realization that "another six (or 12) years of Vladimir Putin might not lead to greater prosperity and democratic normality."
Time said people used the power of the internet, mobilising support for their cause though social networking sites Facebook and Twitter.
Protesters "used the Internet to find one another and take to the streets to insist on fairness and (in the Arab world) freedom." "They were all unhappy, they wanted change and they wanted better life," Time said. "Everybody is out there to unite their power for one common cause, one common expressionto get a better life". From Sidi Bouzid, Alexandria, Cairo to Madrid, Athens, London, Mexico, India and Chile, "citizens mobilized against crime and corruption; the loathing and anger at governments and their cronies became uncontainable and fed on itself," it said.
The shared honour for protesters beat the traditional individual contenders, who included Admiral William McRaven, commander of the US mission to kill Al-Qaeda chief Osama bin Laden. "There's this contagion of protest," managing editor Richard Stengel said on NBC television. "These are folks who are changing history already and they will change history in the future." The list centered on heavyweight political figures such as McRaven, Chinese dissident Ai Weiwei, and influential Republican Congressman Paul Ryan. There were also an emotional nod for Kate Middleton, who was credited for putting a spring back in the British monarchy's step with her wedding to Prince William.
Persons of the Year
Year | Image | Choice | Time Period | |
| 1927 |  | Charles Lindbergh | USA | 1902–1974 |
| 1928 |  | Walter Chrysler | USA | 1875–1940 |
| 1929 |  | Owen D. Young | USA | 1874–1962 |
| 1930 |  | Mohandas Gandhi | British Raj | 1869–1948 |
| 1931 |  | Pierre Laval | France | 1883–1945 |
| 1932 |  | Franklin D. Roosevelt | USA | 1882–1945 |
| 1933 |  | Hugh Samuel Johnson | USA | 1882–1942 |
| 1934 |  | Franklin D. Roosevelt | USA | 1882–1945 |
| 1935 |  | Haile Selassie I | Ethiopia | 1892–1975 |
| 1936 |  | Wallis Simpson | USA | 1896–1986 |
| 1937 |  | Chiang Kai-shek | Republic of China | 1887–1975 |
 | Soong May-ling | Republic of China | 1898–2003 | |
| 1938 |  | Adolf Hitler | Germany | 1889–1945 |
| 1939 |  | Joseph Stalin | USSR | 1878–1953 |
| 1940 |  | Winston Churchill | UK | 1874–1965 |
| 1941 |  | Franklin D. Roosevelt | USA | 1882–1945 |
| 1942 |  | Joseph Stalin | USSR | 1878–1953 |
| 1943 |  | George Marshall | USA | 1880–1959 |
| 1944 |  | Dwight D. Eisenhower | USA | 1890–1969 |
| 1945 |  | Harry S. Truman | USA | 1884–1972 |
| 1946 |  | James F. Byrnes | USA | 1879–1972 |
| 1947 | | George Marshall | USA | 1880–1959 |
| 1948 |  | Harry S. Truman | USA | 1884–1972 |
| 1949 |  | Winston Churchill | UK | 1874–1965 |
| 1950 |  | The American fighting-man | USA | |
| 1951 |  | Mohammed Mossadegh | Iran | 1882–1967 |
| 1952 |  | Elizabeth II | 1926– | |
| 1953 |  | Konrad Adenauer | West Germany | 1876–1967 |
| 1954 |  | John Foster Dulles | USA | 1888–1959 |
| 1955 |  | Harlow Curtice | USA | 1893–1962 |
| 1956 |  | The Hungarian freedom fighter | Hungary | |
| 1957 |  | Nikita Khrushchev | USSR | 1894–1971 |
| 1958 | Charles de Gaulle | France | 1890–1970 | |
| 1959 |  | Dwight D. Eisenhower | USA | 1890–1969 |
| 1960 |     | American Scientists | USA | |
| 1961 |  | John F. Kennedy | USA | 1917–1963 |
| 1962 |  | Pope John XXIII | Holy See/Italy | 1881–1963 |
| 1963 |  | Martin Luther King, Jr. | USA | 1929–1968 |
| 1964 |  | Lyndon B. Johnson | USA | 1908–1973 |
| 1965 |  | William Westmoreland | USA | 1914–2005 |
| 1966 | Image not Available | Baby Boomers | ||
| 1967 | | Lyndon B. Johnson | USA | 1908–1973 |
| 1968 |  | The Apollo 8astronauts | USA | |
| 1969 |  | The Middle Americans | USA | |
| 1970 |  | Willy Brandt | West Germany | 1913–1992 |
| 1971 |  | Richard Nixon | USA | 1913–1994 |
| 1972 | | Richard Nixon | USA | 1913–1994 |
 | Henry Kissinger | USA | 1923– | |
| 1973 |  | John Sirica | USA | 1904–1992 |
| 1974 |  | King Faisal | Saudi Arabia | 1906–1975 |
| 1975 |   | American women | USA | |
| 1976 |  | Jimmy Carter | USA | 1924– |
| 1977 |  | Anwar Sadat | Egypt | 1918–1981 |
| 1978 |  | Deng Xiaoping | People's Republic of China | 1904–1997 |
| 1979 |  | Ayatollah Khomeini | Iran | 1902–1989 |
| 1980 |  | Ronald Reagan | USA | 1911–2004 |
| 1981 |  | Lech WaÅ‚Ä™sa | Poland | 1943– |
| 1982 |  | The Computer | ||
| 1983 | | Ronald Reagan | USA | 1911–2004 |
 | Yuri Andropov | USSR | 1914–1984 | |
| 1984 |  | Peter Ueberroth | USA | 1937– |
| 1985 | | Deng Xiaoping | People's Republic of China | 1904–1997 |
| 1986 |  | Corazon C. Aquino | Philippines | 1933–2009 |
| 1987 |  | Mikhail Gorbachev | USSR | 1931– |
| 1988 |  | The Endangered Earth | ||
| 1989 | | Mikhail Gorbachev | USSR | 1931– |
| 1990 |  | George H. W. Bush | USA | 1924– |
| 1991 |  | Ted Turner | USA | 1938– |
| 1992 |  | Bill Clinton | USA | 1946– |
| 1993 |     | The Peacemakers | Palestine, South Africa, Israel | |
| 1994 |  | Pope John Paul II | Holy See/Poland | 1920–2005 |
| 1995 |  | Newt Gingrich | USA | 1943– |
| 1996 |  | David Ho | Republic of China/USA | 1952– |
| 1997 |  | Andrew Grove | Hungary/USA | 1936– |
| 1998 | | Bill Clinton | USA | 1946– |
 | Kenneth Starr | USA | 1946– | |
| 1999 |  | Jeffrey P. Bezos | USA | 1964– |
| 2000 |  | George W. Bush | USA | 1946– |
| 2001 |  | Rudolph Giuliani | USA | 1944– |
| 2002 |  | The Whistleblowers | USA | |
| 2003 |  | The American soldier | USA | |
| 2004 | | George W. Bush | USA | 1946– |
| 2005 |  | The Good Samaritans | Ireland/USA | |
| 2006 |  | You | ||
| 2007 |  | Vladimir Putin | Russia | 1952– |
| 2008 |  | Barack Obama | USA | 1961– |
| 2009 |  | Ben Bernanke | USA | 1953– |
| 2010 |  | Mark Zuckerberg | USA | 1984– |
| 2011 |  | The Protester | ||
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