Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 03 - NOVEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 03 - NOVEMBER - 2016
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DAILY NEWS UPDATES

03- NOVEMBER - 2016

 

:: NATIONAL ::

GOVT IS DEVELOPING NATIONAL DATA REGISTRY

  • The government is developing a national data registry (NDR) that will require all agencies— state, private and academic — that collect and store geospatial data to provide details of the data they store.
  • The registry will also serve as a source of “authenticated” information — meaning officials at the Survey of India would vet it for accuracy and see whether it contains information that contravenes national security.
  • Such a registry was to create a “catalogue” that would “prevent duplication” of data sets and to help users locate the right agencies to source information.
  • The registry will be a ‘meta-data’ repository: it will not actually be a source of geospatial data but will only inform about the nature of the data a service provider has.
  • Thus, everyone from restaurant-location-services providers to hospital-location aggregators will have to comply with the directive, and the government may consider bringing in legislation.
  • The DST is soliciting vendors capable of developing such a database. “Data can change over time, so the system has to be able to operate across a wide range of formats and our service must be able to source information automatically.
  • Earlier this year, Govt faced the ire of private mapmakers and civil society after it posted a Geospatial Information Regulation Bill on its website, proposing draconian fines and jail terms for those who “wrongly depict” India’s borders.
  • The data registry initiative, though independent of the Geospatial Bill, would also double as a clearing house for geospatial applications.

PRESIDENT ON VISIT TO NEPAL

  • Nepal accorded a warm welcome to President Pranab Mukherjee but asserted that India should avoid interfering in the internal issues of the country.
  • Soon upon the arrival of the Indian President, divisions in Nepali politics became evident on the issue of constitutional amendments for the Madhesi people of the plains.
  • President praised the democratic struggle in Nepal and urged his hosts to draft a constitution that would address the “diverse social fabric.”
  • Leaders from the Madhesi parties made it clear that they would take up the issue of continued denial of rights to the Madhesi people with President Mukherjee.
  • The current government of Nepal under PM Prachanda is no different from the previous governments and they are not serious about addressing the grievances of the Madhesis.
  • President Mukherjee in his speech at the state banquet noted the task ahead for Nepal in framing a constitution that addresses its “diverse social fabric.” Striking a positive note.
  • Foreign Secretary S. Jaishankar, elaborating on the bilateral meetings between President Mukherjee and his hosts, indicated that India urged Nepal to bridge internal differences.

PAKISTAN DELIBERATELY TARGETING CIVILIAN AREAS

  • The Border Security Force (BSF) said Pakistan’s border guarding force was deliberately targeting civilian areas and its Army directly supporting the troops in the shelling on these areas and Indian posts along the International Border (IB).
  • Addressing a press conference, Inspector General of BSF D.K. Upadhyay said the Pakistan Army was giving full support to Pakistan Rangers, which have violated ceasefire “countless” times in recent past.
  • However, he ruled out use of artillery by the Pakistan troops in shelling on Indian areas.“There is no proof of artillery being used by the Pakistani forces”, the IG said.
  • Mr. Upadhyay said Pakistan had violated the “human rights and international norms,” by targeting civilian areas.

CLOSENESS BETWEEN INDIA AND ISRAEL TO INCREASE WITH PRESIDENT’S VISIT

  • Israel President ReuvenRivlin will visit India from November 15 to 20, accompanied by a delegation of “unprecedented size” comprising businessmen and university officials.
  • During the visit, Mr. Rivlinwill witness the signing of several agreements with a focus on cooperation in agriculture, water and education, though other agreements on security and defence cooperation were not ruled out.
  • Mr. Rivlin’s tour, which includes stops in Delhi, Chandigarh and Mumbai, is a return visit to Mr. Mukherjee’s trip to Israel.
  • Both Presidents are expected to travel to Chandigarh together to attend an ‘Agrotech’ summit organised by the Confederation of Indian Industry there.

:: BUSINESS AND ECONOMY ::

RATING AGENCY S&P RULES OUT UPGRADE OF RATING FOR INDIA

  • S&P ruled out any upgrade in India’s sovereign rating through 2017 despite policy stability and reforms.
  • S&P Global Ratings maintained the lowest investment grade rating of ‘BBB—’ with a ‘stable’ outlook for India saying it wants to see more efforts to lower government debt to below 60 per cent of the GDP and that it did not expect revenues to rise enough to meaningfully lower the deficit over the medium term.
  • Reacting strongly govt said the upgrade did not come despite the fact that reforms undertaken by India was unparalleled by any major economy anywhere in the world and that called for ’introspection’ on part of the rating agencies.

STATES YET TO COME UP WITH OPTIONS FOR CESS ON GST

  • Multiple slabs, ranging from zero to 26 per cent, with a cess on ultra luxury and demerit goods in the top-most slab, is the only rate structure for consideration in the GST Council.
  • States that had objected to the imposition of cess on GST, leading the last Council meeting to end inconclusively, have not put up any alternative proposals for inclusion in the agenda for the two-day meeting.
  • The States’ main grouse was that the Centre’s proposal regarding the imposition of a cess on the GST for generating the revenues.
  • it will need to fund compensation to states for losses arising out of the transition to the new indirect tax regime “would amount to the use of GST revenues for compensating GST losses”.
  • The option of fixing the top-most slab higher than 26 per cent as an alternative to cess is not feasible.
  • On the other hand, the revenues from the cess would go into a separate escrow account from where direct disbursements will be made to those states eligible for compensations from the Centre in line with pre-determined formulae.

GOVT WORKING TO EXPEDITE THE GRANT OF SECURITY CLEARANCES FOR FOREIGN INVESTORS

  • The Industry and Home Affairs Ministries are working to expedite the grant of security clearances for foreign investors that often delay or even scuttle inflows of foreign direct investment as well as mergers and acquisitions.
  • There is a need for everything to be time-bound with a reasonable time period and we face this challenge too as we administer industrial licences for explosives manufacturing.
  • In an ideal scenario such taxes shouldn’t be collected at all instead of being collected and then refunded after two or three years.
  • The Union government is also working with state administrations to deal with incentives and refunds promised to investors under the proposed Goods and Services Tax Regime.
  • Improving the ease of doing business in the country has not been easy for the past two years and won’t be easy in the coming years as it requires dismantling of several legacy systems including physical touch points for clearances.

:: IMPORTANT DETAILED NEWS ::

BORJE EKHOLM APPOINTED AS PRESIDENT AND CEO OF ERICSSON

Borje Ekholm was appointed as the President and Chief Executive Officer (CEO) of  Ericsson, Swedish communication technology firm, with effect from 16 January 2017. Until then, Jan Frykhammar will remain interim CEO.

Ekholm will also remain a member of the Board of Directors of Ericsson. Presently, Ekholm is working as CEO of Patricia Industries.

About Borje Ekholm

• Prior to assuming this position in Patricia Industries in 2015, he held the position as President and CEO of Investor AB between 2005 and 2015.

• Previously, he had also served various companies including Investor Growth Capital, Novare Kapital AB and McKinsey & Co Inc.

• Ekholm is also a member of the Board of Directors for Telefonaktiebolaget LM Ericsson, Alibaba Inc., NASDAQ OMX Group Inc. and Trimble Navigation Ltd.

• He is also a member of the University Board of KTH Royal Institute of Technology.

• Born in 1963, he holds a Master of Science in Electrical Engineering from KTH Royal Institute of Technology, Stockholm, Sweden, as well as a MBA from INSEAD, France.

INDIA, SOUTH KOREA SIGN REVISED DOUBLE TAXATION AVOIDANCE AGREEMENT

India and South Korea signed a revised Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

The Provisions of the new DTAA will have effect in India in respect of income derived in fiscal years beginning on or after 1 April 2017.

The earlier Double Taxation Avoidance Convention between India and Korea was signed on 19 July 1985 and was notified on 26 September 1986.

Salient features of revised DTAA

• It provides for source based taxation of capital gains arising from alienation of shares comprising more than 5 percent of share capital.

• In order to promote cross border flow of investments and technology, the revised DTAA provides for reduction in withholding tax rates from 15 percent to 10 percent on fees for technical services and from 15 percent to 10 percent on interest income.

• It expands the scope of dependent agent Permanent Establishment provisions in line with India’s policy of source based taxation.

• It provides for exclusive residence based taxation of shipping income from international traffic under Article 8 of revised DTAA.

• It provides recourse to the taxpayers of both countries to apply for Mutual Agreement Procedure (MAP) in transfer pricing disputes as well as apply for bilateral Advance Pricing Agreements (APA).

• The Article on Exchange of Information is updated to the latest international standard to provide for exchange of information to the widest possible extent. As per revised Article, the country from which information is requested cannot deny the information on the ground of domestic tax interest.

• It inserts new Article for assistance in collection of taxes between tax authorities.

• It inserts new Limitation of Benefits Article i.e. anti-abuse provisions to ensure that the benefits of the Agreement are availed only by the genuine residents of both the countries.

• It aims to avoid the burden of double taxation for taxpayers of two countries in order to promote and thereby stimulate flow of investment, technology and services between India and Korea.

PUNJAB DIRECTORATE WINS NCC NATIONAL GAMES

Punjab Directorate won the 2016 National Cadet Corp (NCC) National Games. Subhash Bhamre, Minister of State for Defence, presented trophies to the winners at the closing ceremony at Delhi Cantonment.

The NCC Games aim to provide the talented sportsmen among the cadet exposure of a major sporting event while preparing them with the requisite matching temperament towards furthering their sporting careers.

Key highlights of the closing ceremony

The closing ceremony began with hundreds of young blossoming cadets performing a display of a choreographed dance with the theme Vibrant India.

The Sarang Helicopter aerobatic team performed a well synchronized show.

There was a smart march past by the participating sportsmen formed in 17 Directorate contingents, led by cadets mounted on their stallions carrying the National, Services and the NCC Flag symbolising Unity and Discipline.

The ceremony attended by the NCC cadets from 17 directorates all over India, presented a moving picture of aspirational India on their journey to becoming worthy empowered citizens with sound values, inculcated by a common powerful binding force.

NADIA MURAD AND LAMIYA AJI BASHAR WINS 2016 SAKHAROV PRIZE

Two Yazidi women, Nadia Murad Basee and Lamiya Aji Bashar, who escaped sexual enslavement by Islamic State of Iraq and Syria (ISIS) in Iraq, have won Europe's top human rights award, the Sakharov prize.

The announcement of the year's joint laureates was made following a decision by European Parliament.

The Sakharov award ceremony will be held in Strasbourg on 14 December.

Nadia Murad Basee Taha appointed UNODC Goodwill Ambassador

Basee and Bashar were among thousands of Yazidi girls and women abducted by ISIS militants and forced into sexual slavery in 2014. But, both survived and now campaign for the Yazidi community.

The two women were nominated by S&D and the liberal ALDE group in the European Parliament.

Nadia Murad Basee and Lamiya Aji Bashar

Nadia Murad Basee and Lamiya Aji Bashar are advocates for the Yazidi community and for women surviving sexual enslavement by Islamic State of Iraq and Syria. They are both from Kocho, one of the villages near Sinjar, Iraq, which was taken over by ISIS in 2014.

They are public advocates for the Yazidi community in Iraq, a religious minority that has been the subject of a genocidal campaign by IS militants. Murad is also a promoter for recognition of the Yazidi genocide.

40 children of Yazidi community died in ISIS attack in Sinjar in Iraq: UNICEF

Sakharov Prize

The Sakharov Prize, officially known as the Sakharov Prize for Freedom of Thought is annually awarded by the European Parliament. It was established in December 1988 to honour individuals and groups of people who have dedicated their lives to the defense of human rights and fundamental freedoms. It is awarded annually awarded in memory of Andrei Sakharov, a Soviet scientist and dissident.

The prize is accompanied by an award of 50000 Euro. In 2015, the prize was awarded to Raif Badawi.

SUNIL BHARTI MITTAL APPOINTED AS CHAIRMAN OF GSMA

Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, was on 27 October 2016 appointed as Chairman of GSMA. As GSMA Chairman, Mittal will oversee the strategic direction of the organisation.

Mittal will succeed Jon Fredrik Baksaas, who will step down from the GSMA board at the end of 2016.

On the other hand, the company re-elected Mari-Noëlle Jego-Laveissiere, Executive Vice President, Innovation, Orange Group as Deputy Chairman. It also elected the new members of the 26-member Board of the company.

About Sunil Bharti Mittal

• Mittal took over as Chairman of the International Chamber of Commerce (ICC) early this year.

• He also serves on the boards and councils of several reputed international bodies and think-tanks like the World Economic Forum (WEF), Telecom Board of International Telecommunication Union (ITU), the Broadband Commission, Harvard University’s Global Advisory Council.

• He is also a Trustee of the Carnegie Endowment for International Peace and on the Board of Qatar Foundation Endowment.

About the GSMA

• The GSMA represents the interests of mobile operators worldwide, uniting nearly 800 operators with almost 300 companies in the broader mobile ecosystem.

• The GSMA also produces industry-leading events such as Mobile World Congress, Mobile World Congress Shanghai, Mobile World Congress Americas and the Mobile 360 Series of conferences.

• The GSMA Board has 26 members, including 25 operator representatives from the world’s largest operator groups as well as smaller, independent operators with global representation.

DAUGHTERS OF MOTHER INDIA WINS AT CAM INTERNATIONAL FILM FESTIVAL

Indian National Award winning documentary ‘Daughters of Mother India’ won the first prize in the Documentary Film category at the sixth CAM International Film Festival in Cairo, Egypt.

The CAM International Film Festival was organised by Arabic Egyptian Society for Culture, Media and Arts (CMA).

The fest is organised annually to promote cinema as a means of combating ignorance, poverty and terrorism. The 2016 edition featured around 92 films from 33 countries in three categories: Short Fiction, Documentary and Animation.

India was the Guest of Honour in the film gala with 12 entries.

About the Daughters of Mother India

The movie, Daughters of Mother India, is directed by Vibha Bakshi.

It portrays India's story of resolve, hope and courage in the fight against gender violence.

It frames the aftermath of the 2012 Nirbhaya gang-rape and murder on camera.

 

 

 

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Last Updated on Monday, 12 December 2016 04:39
 
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