Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 24 - AUGUST - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 24 - AUGUST - 2016
Wednesday, 24 August 2016 06:48

 

 

 


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DAILY NEWS UPDATES

24- AUGUST - 2016

 

:: NATIONAL ::

DEPUTY GOVERNOR URJIT PATEL TO BE THE NEXT RBI GOVERNOR

  • Ending months of speculation, the Appointments Committee of the Cabinet (ACC) announced the appointment of Reserve Bank of India Deputy Governor Urijit Patel as successor to Governor Raghuram Rajan.
  • Dr. Patel will take up the top job for a three-year term on September 4, the day Dr. Rajan’s three-year term expires.
  • The choice of Dr. Patel reflects the government’s pref- erence for continuity to the Rajan tradition. Dr. Patel, working closely with Dr. Rajan, is piloting India’s transition to a new monetary policy regime.
  • According to a press note announcing the appointment, Dr. Patel was picked in a new, two-step selection process. “For the first time, a systematic approach and an objective mechanism have been put in place,’ it said.
  • In the first step, the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by the Cabinet Secretary P. K. Sinha made a shortlist for the consideration of the ACC.
  • Thereafter, the ACC comprising Prime Minister Narendra Modi and Home Minister Rajnath Singh, settled for Dr. Patel from a list of five names received from the FSRASC.

MAHARASTRA PROTECTION OF INTERNAL SECURITY ACT TO SET UP SPECIAL SECURITY ZONES

  • Thenewly drafted Maharashtra Protection of Internal Security Act (MPISA) has proposed setting up of Special Security Zones where movement of arms, explosives and inflow of unaccounted funds will be prohibited .
  • The government made public the draft MPISA, 2016, defining Critical Infrastructure Sectors (CIS), and bringing nuclear reactors, dams, major projects, coastal areas under its ambit.
  • It will also have an emphasis on maintaining law and order and combating terrorism, insurgency, caste-related violence and communalism.
  • The government would seek public responses to the MPISA, asking for suggesti- ons before the Bill is presented to the legislature for approval.

PINK BOLLWORM CONTINUES TO CREATE PROBLEM

  • Pink bollworm, a pest that left farmers of Raichur devastated last year by destroying Bt cotton crops, has now reached Haveri district, where cotton is grown in about 1 lakh hectares annually.
  • This has once again raised questions over claims by companies supplying Bt cotton seeds of immunity from pink bollworm .
  • While the scientific community is yet to begin any study in Haveri over the extent and severity of the pest attack, the impact of the pest is widespread.
  • A recent visit by a fact-finding committee comprising of environmentalists and farm experts revealed thatthe summer cotton crop (cultivated during summer in irrigated land) has fallen prey to the pink bollworm.
  • Pink bollworm attack in villages of Haveri and Ranebennur taluks only on the sum- mer cotton crop and it is severe.
  • Summer cotton crop is cultivated on around 1,010 hectares of land in the district while kharif sowing is in 69,000 hectares.
  • Of this, the pest is noticed in 500 hec- tares and pest attack is not of alarming level. But as a pre- cautionary measure we have taken steps to sensitise farmers.

:: INTERNATIONAL ::

CHINA GETS NEW COUNTRY, MYANMAR, UNDER SILK ROAD PROJECT

  • Myanmar’s State Counsellor Aung San Suu Kyi concluded her visit to China after embarking on a tough balancing act — of seeking Beijing’s support for her country’s infrastructure projects and demands of environmental groups back home.
  • During the visit, media attention remained largely fixed on the Myitsone project, the controversial China-backed undertaking worth $3.6 billion stalled since 2011 on the grounds of causing extensive ecological damage.
  • Ms. Suu Kyi placed on record Myanmar’s support for China’s ‘Belt and Road’ connectivity initiative along the ancient Silk Road.
  • It also supported the Bangladesh-China-India-Myanmar economic corridor meant to industrialise a stretch spanning more than 2,000-km linking Kunming in China with Mandalay in Myanmar, passing through Bangladesh, and ending at Kolkata in India.
  • Significantly, it made nomention of the South China Sea dispute, an achievement for Beijing, which has been working hard to avoid negative references to the issue among members of the Association of South East Asian Nations (ASEAN).
  • Prior to Ms. Suu Kyi’s visit, Myanmar’s media had highlighted that she was likely to look for Chinese support for her government’s initiatives in achieving reconciliation with insurgent groups in Myanmar.
  • An open letter to State Counsellor pointed out that hydropower dams on the Salween River would block water flow and create hardship for those who rely on the waterway, particularly for agriculture, in Burma, Thailand and China.

:: INDIA AND WORLD ::

BRICS WOMEN PARLIAMENTARIANS FORUM STARTED AT JAIPUR

  • Calling upon BRICS countries to strengthen “cooperative mechanisms”, Lok Sabha Speaker said a united front would help in the successful implementation of the Sustainable Development Goals (SDGs).
  • At the first meeting of the BRICS Women Parliamentarians’ Forum, She said while India had chosen the path of removing poverty by empowering the poor, BRICS should innovate institutional means for meeting the needs of the member countries.
  • The Speaker said that some of the recent initiatives launched in the country were promoting inclusion and social advancement.
  • The initiatives include Jan Dhan Yojana, unleashing entrepreneurial energies of people, and the Beti Bachao, Beti Padhao scheme to bring the girl child as focus of all development efforts.
  • Ms. Mahajan said the women parliamentarians, as enablers of achievement of the SDGs, needed to concentrate on their role as people’s representatives.
  • Referring to the 2030 agenda for the SDGs, Ms. Mahajan said the women parliamentarians had added responsibilities in it because worldwide.

:: BUSINESS AND ECONOMY ::

FINANCE MINISTER SAYS IN ORDER TO TAXES TO GO DOWN BASE MUST INCREASE

  • Amid demand from the industry for a lower Goods and Services Tax rate, Finance Minister Aurn Jaitley said for the rate to be low, the tax base needs to increase.
  • If all taxpayers pay their taxes, it will help bring in tax rates lower. The more the evasions and exemptions, the higher will be the tax rate. So, moderate tax rates and evasions cannot co-exist.
  • Earlier this month, Parliament passed the much delayed GST Bill paving the way for the new tax structurewhich is expected to kick in from 1 April 2017.
  • While states like Assam and Bihar passed the Bill, it has to be passed at least by 17 more states with two-third majority for the Bill to get constitutional validity.
  • India is politically integrated into one country, but economically we are different states.
  • You have to have a free flow of goods and services across the country. Youhave to have a uniform rate of taxation thought the country,” Mr Jaitley said
  • The peak GST rate will be finalised by the proposed GST Council comprising the Union Finance Minister and his state counterparts, even as the chief economic advisor has suggested an 18 per cent peak rate.
  • Stating that GST implementation was his immediate challenge, the minister said the next challenge would be strengthening the banks.

MORE FOREIGNERS VISITING INDIA

  • The number of foreign tourist arrivals (FTAs) in India rose 17.1 per cent in July 2016 over the same period a year ago.
  • Bangladesh accounted for the highest share of tourist arrivals followed by the U.S. and the U.K., according to a government statement. The government earned Rs.14, 319 crores as foreign exchange, stemming from touristinflows.
  • The FTAs during July 2016 was 7.36 lakh as compared to 6.28 lakh during the month of July 2015 and 5.69 lakh in July, 2014.
  • FTAs during the period January-July 2016 were 49.22 lakh with a growth of 10 per cent as compared to 44.73 lakh with a growth of 4.6 per cent in January-July 2015 over January-July 2014.
  • Foreign Exchange Earnings (FEEs) during July 2016 stood at Rs.14,319 crore as compared with Rs.11,982 crore in July 2015 and Rs.10,284 crore in July 2014.
  • The growth rate in rupee terms during July 2016 over July 2015 was 19.5 per cent as compared to 16.5 per cent in July, 2015 over July, 2014.
  • FEEs during January-July 2016 amounted to Rs.87,384 crore with a growth of 15 per cent as compared Rs.76,017 crore with a growth of 9.5 per cent during January-July 2015 over January- July 2014.
  • In dollar terms, FEEs in July 2016 amounted to $2.13 billion as compared to $1.884 billion in July 2015 and $1.712 billion in July 2014.
  • The growth rate in July 2016 over July 2015 was 13.1 per cent compared with the growth of 10 per cent in July 2015 over July, 2014.

:: IMPORTANT DETAILED NEWS ::

BANWARILAL PUROHIT SWORN IN AS GOVERNOR OF ASSAM

Banwarilal Purohit was sworn in as the Governor of Assam.

Chief Justice of Gauhati High Court Ajit Singh administered the oath of office and secrecy to Purohit at the Raj Bhavan in Gauhati.

Purohit succeeded Padmanabha Balakrishna Acharya, Governor of Nagaland who was Governor in-charge of Assam.

Who is Banwarilal Purohit?

Banwarilal Purohit was a Member of Parliament from the Nagpur (Lok Sabha constituency) three times, twice as a Congress member, once as a BJP member.

In 1984, he was elected to the 8th Lok Sabha as member of Congress Party. He was re-elected in 1989.

Later, he joined Bharatiya Janata Party when it launched a movement to build Ram Temple in Ayodhya.

In 1996, he was elected to 11th Lok Sabha as BJP's candidate.

He gained ownership of the Nagpur daily newspaper The Hitavada in 1980s. The Hitavada was English daily founded by Gopal Krishna Gokhale. Under Banwarilal Purohit, The Hitavada became a leading newspaper of central India and apart from its headquarters edition at Nagpur the daily also launched editions from Jabalpur, Raipur, and Bhopal.

JAGDISH MUKHI SWORN IN AS LIEUTENANT GOVERNOR OF ANDAMAN AND NICOBAR ISLANDS

Senior BJP leader Jagdish Mukhi was sworn in as the 12th Lieutenant Governor of the Union Territory of Andaman and Nicobar Islands.

He was administered the oath of office and oath of secrecy by Justice Girish Chandra Gupta, acting chief justice of Calcutta High Court.

Mukhi Succeeded Lt General A K Singh (Retd) who was appointed in July 2013. Earlier, he had been a minister and Leader of Opposition in the Delhi Assembly in the past.

Mukhi was also a professor in Delhi University and has authored a book titled 'Company Law and Secretarial Practice'.

INDIA, GERMANY SIGN AGREEMENT ON VOCATIONAL TRAINING

India and Germany signed an agreement to foster conditions that will help create and improve workplace-based vocational training in India's industrial clusters.

The agreement was signed between the Ministry of Skill Development and Entrepreneurship (MSDE) and German International Cooperation (GIZ).

Highlights of the Agreement

• Under the pact, German technical assistance will be used to enhance industry institute partnerships between Indian and German organizations.

• It will help build capacity of local training institutions and foster industry linkages which will help adapt elements of the German dual system into the Indian context.

• It will initiate a new project focused on adapting elements of the German dual system in select industrial clusters in India.

• The project will run for three years starting August 2016 with a budget of 22.6 crore rupees made available by the German Government.

• It will be implemented in three selected clusters, which include the Automobile cluster in Maharashtra and Electronics cluster in Bangalore.

GUJARAT TO HOST 2016 KABADDI WORLD CUP

The International Kabaddi Federation (IKF) announced that the 2016 Kabaddi World Cup will be hosted in Ahmedabad, Gujarat.

The tournament will take place from 7 October 2016 and will conclude on 22 October 2016.

Gujarat will play host to 12 Kabaddi teams from around the world including India, USA, Canada, United Kingdom, Australia, Iran, Poland, Pakistan, and others.

The Kabaddi World Cup matches will be held in The Arena by TransStadia, upcoming state-of-the-art stadium in Ahmedabad.

About Kabaddi World Cup

Kabaddi is a contact sport that originated in Ancient India.

India always dominated the event by winning all the gold medals in both men's and women's category.

Kabaddi World Cup was first played in 2004, then in 2007 and then annually from 2010 onwards.

2004 and 2007 were played in Standard Style and other years in Circle Style.

World Cup 2015 was cancelled because of 2015 Guru Granth Sahib desecration controversy.

Sri Muktsar Sahib in Punjab was the host of the Kabaddi World Cup 2014.

The winner of the Kabaddi World Cup 2014 was India. New Zealand was the Runner-up. Pakistan stood on the third place.

 

 

 

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Last Updated on Thursday, 25 August 2016 04:43
 

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