The United Nations announced that the world population will hit 7 billion on Monday, October 31, but could not pinpoint exactly where the child will be born.

Uttar Pradesh, India’s most populous state, where an estimated 11 children are born every minute, is a likely candidate, with the NGO Plan International announcing the birth in Mal, 20 km from Lucknow.

A baby girl named Nargis, born to Ajay and Vineeta at 7:20 am has been named the symbolic 7 billionth baby.

Meanwhile, Philippines also welcomed the world’s symbolic seven billionth baby.

Weighing 2.5 kg, Danica May Camacho, was delivered just before midnight on Sunday at Manila’s Jose Fabella Memorial Hospital. The parents and the baby were met by top United Nations officials in the Philippines, who presented the child with a small cake.

Local benefactors gifted the baby a scholarship grant for the child’s study and a livelihood package to enable the parents to start a general store.

But India needs to worry as the country is set to become the world’s most populous by 2025 at the current growth rates.

Currently, India and China account for more than one-third of the world’s population.

But where China has made strides in controlling population, India’s population growth continues to be explosive and will overtake China’s population in 2025.

China’s population will decline around 2050, whereas India’s population will only begin its decline by 2060.

Eros International a leading global company in the Indian film entertainment industry has announced a historic and record breaking opening for Shah Rukh Khan’s Ra.One, produced by Red Chillies Entertainments in association with Winford Productions which released across theatres worldwide on 26th October 2011. SRK’s super hero action film has set a new record at the Indian box office by earning a gross of Rs. 170 crore worldwide in the opening weekend (first five days of release).

The highly anticipated Diwali release triumphed at the box office with an incredible weekend gross collection of Rs. 137.25 crore (Net Collection of Rs. 96 crore) in India and Rs. 32.75 crore overseas. Since its release, Ra.One has been creating history by shattering regional, national and international box office record after record with the biggest Diwali day opening followed by the biggest single day collections for an Indian film and now the biggest ever weekend release for both India and overseas box office.

Ra.One opened across more than 4,000 plus screens worldwide (3,100 plus screens in India and 904 prints internationally, including 3D, Tamil and Telugu) and is the biggest Hindi grosser in south markets too.

Commenting on the opening, Nandu Ahuja, Sr. VP, Distribution, Eros International Media Ltd said, “Ra. One released to packed houses across the country on Diwali day and has already created history by taking over the mantle of the biggest domestic earner so far. The film continues to be on its record breaking spree with several new achievements since its release. It has touched the highest individual collection in circuits such as Mumbai, Delhi, Punjab and Rajasthan. We see repeat viewings of the movie with the 3-D version being equally sought after. With the Eid holiday also coming up next week and no other major film release; we are anticipating the film to continue doing huge numbers”.

Speaking on Ra.One’s overseas performance, Pranab Kapadia, President – Distribution – Eros International plc said, “With Ra.One, Eros International once again consolidates and establishes its global distribution network and the film is enjoying a superb run across all major regions including UK, North America, Europe, Australia and the Middle East. Overseas, the film has broken SRK’s own previous first weekend record established by My Name is Khan and Ra. One now occupies the position of biggest Indian first weekend grosser overseas as well. The Saturday release of 3D versions in most overseas markets means that we are looking at the film continuing to do some excellent numbers through the coming weeks”.

Ken Naz, President, Eros International, USA added, “Eros has capitalized on its key competitive advantage of its worldwide distribution network to exploit the film and not surprisingly, Ra.One has had a brilliant opening across the country. Despite storms in the east coast and a state of emergency declared, the film has performed so well. Apart from audience appreciation, leading media like the New York Times and LA Times have hailed the film too and we can confidently declare this film to be one of the biggest ever blockbusters and top earners for an Indian film in the USA”.

Red Bull’s Sebastian Vettel ran away with the inaugural Indian Formula One Grand Prix on Sunday for the double world champion’s 11th victory in 17 races this season.

The 24-year-old German, who led every lap of the race after starting from pole position as well as setting the fastest lap, and his team have already won both championships.

Britain’s Jenson Button, the 2009 world champion, consolidated his grip on second place overall by finishing 8.4 seconds behind the German, while Ferrari’s Fernando Alonso took third place a further 15.8 seconds adrift.

McLaren’s 2008 champion Lewis Hamilton and Ferrari’s Felipe Massa again collided, their sixth on-track clash of the season. The Brazilian was handed a drive through penalty for causing the collision and later retired with a broken front suspension.

India’s combined fiscal deficit –of both the Centre and states–during 2011-12 could be as high as 8.6% of the GDP and any further slippage could risk a credit downgrade and loss of business confidence, says a report.

According to global research firm Macquarie, consolidated fiscal deficit of the country including off-budget items like food, oil and fertiliser is likely to be around 8.6% amid slowing revenue growth and “lack of expenditure management by the government”.

Macquarie further warned the country’s fiscal deficit already remained high and any further slippage can increase the risk of “credit rating downgrade and loss of business confidence”. It said the Indian government needs to adhere to the path of fiscal correction.

“We believe that the government needs to stick to its commitment of fiscal consolidation and curtail expenditure growth to create a room for private investments,” the report said.

The overall fiscal deficit in financial year 2010-11, excluding the 3G spectrum receipts stood at 9%, it said.

“This, in an environment of weak global capital markets, could result in higher cost of capital and further crowding out of private investments and thus slower growth,” it said.

Moreover, high fiscal deficit is also the main culprit responsible for high inflation, Macquarie said.

Empirical estimates suggest that a 1 per cent increase in level of fiscal deficit could cause about a quarter of a percentage point increase in the WPI.

Inflation has remained above the RBI’s comfort zone of 5-5.5% over the last 22 months and has averaged over 9% during this period.