Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 04 - NOVEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 04 - NOVEMBER - 2016
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DAILY NEWS UPDATES

04- NOVEMBER - 2016


:: NATIONAL ::

GST WILL BE LEVIED AT MULTIPLE RATES

  • The Goods and Services Tax (GST) will be levied at multiple rates ranging from 0 per cent to 28 per cent.
  • Ultra luxuries, demerit and sin goods, will attract a cess for a period of five years on top of the 28 per cent GST.
  • Overcoming opposition from some States, the GST Council finalised a multiple-slab rate structure, including the cess, for the new indirect tax. The quantum of cess on each of these will depend on the current incidence of tax.
  • On nearly half of the consumer inflation basket, including food grains, the GST will be at 0 per cent, Council Chairman and Union Finance Minister Arun Jaitley told a media conference after the meeting.
  • The approved slabs vary slightly from the proposal the Centre had moved at the Council’s last meeting. The lowest slab of 5 per cent will be for items of common consumption.
  • There would be two standard rates of 12 per cent and 18 per cent, which would fall on the bulk of the goods and services. This includes fast-moving consumer goods.
  • The highest slab of 28 per cent will include white goods and all those items on which the current rate of incidence varies from 30-31 per cent.

CHINESE ARMY CREATES TENSION IN LEH

  • The Indo Tibetan Border Police and the Army have been engaged in a face- off with the Chinese People’s Liberation Army along the Line of Actual Control in Leh’s Demchok area.
  • Around 50 Chinese Army personnel had come close to the Indian side of the LAC and were refusing to go back.
  • The Chinese side is objecting to an irrigation project under the Mahatma Gandhi National Rural Employment Guarantee Act to link a village with a ‘hot spring’.
  • The Chinese troops took positions and demanded that work be stopped as either side needs permission before undertaking any work.
  • India disputed the claim, stating that as per the agreement between the two countries, information about construction needs to be shared only if it was meant for defence purposes.
  • This is the first time since the 2014 incident when Chinese Army had come deep inside the Indian territory in Demchok to protest an ongoing irrigation project.

VISIBILITY REALLY LOW IN CAPITAL

  • Delhi faces the worst smog in 17 years as visibility in the Capital morning remained poor and the city choked its way through a haze.
  • Environment experts said the Delhi government must issue health alerts and warn children and other vulnerable sections to stay indoors.
  • As per the India Meteorological Department, the smog on November 2 was the worst in 17 years. This demands emergency response to protect the vulnerable – those who are suffering from respiratory and heart diseases and children.
  • The CSE analysis also found that post-Diwali peak of pollution is higher than the Diwali peak.
  • Analysis of data from Delhi Pollution Control Committee shows that the levels of PM 2.5 have increased by 62.7 per cent on November 2 as compared to that on Diwali.
  • According to SAFAR, PM 2.5 levels are in severe category and are expected to remain in this category for more than three days.
  • Satellite images of NASA’s fire mapper have showed that incidences of paddy burning in Punjab, Haryana and Uttar Pradesh have increased after Diwali.
  • The images clearly revealed that after October 30, crop burning in Punjab, Haryana and UP became more aggressive which would have contributed to the severe smog in the national capital.

:: INTERNATIONAL ::

UK COURT RULED THAT BREXIT COULD NOT BE TRIGGERED WITHOUT A PARLIAMENTARY VOTE

  • In a major victory for ‘Remain’ campaigners and those alarmed by the British government’s efforts to single-handedly control the country’s exit from EU, the High Court ruled that Brexit could not be triggered without a parliamentary vote.
  • The court rejected government arguments that clauses in legislation gave it the power to act without parliamentary approval when it came to triggering Article 50, which gives EU member states a two-year period to withdraw.
  • The government’s argument was contrary to the fundamental constitutional principles of the sovereignty of Parliament and the government’s lack of entitlement to use its prerogative powers to change domestic law, the court said.
  • It is too early to tell the long implications of the ruling: the government has announced it will appeal the decision to the Supreme Court, with a hearing likely to take place in early December at the earliest.
  • Should the government be forced to seek parliamentary approval, it is unlikely that MPs would vote against Article 50, despite comments from former UKIP leader Nigel Farage that “a betrayal may be near at hand”.
  • The Conservatives are likely to rally around the Prime Minister. On the Labour side, though there are many Labour MPs who campaigned against leaving, the clear Brexit vote in many of their constituencies leaves them unlikely to vote against what is seen as the clear will of the people.

:: SCIENCE AND TECHNOLOGY ::

LARGEST MIRROR TELESCOPE DEVELOPED BY NASA

  • NASA has successfully completed building the mirror of the largest space telescope, which will be 100 times more powerful than the Hubble probe and may find the first galaxies that formed in the early universe.
  • The James Webb Space Telescope will be the successor to NASA’s 26-year-old Hubble Space Telescope. The Webb telescope’s infrared cameras are so sensitive that it needs to be shielded from the rays of the Sun.
  • A five-layer sunshield of the size of a tennis court will prevent the background heat from the Sun from interfering with the telescope’s infrared sensors.
  • The five layers of membrance are each as thin as a human hair.
  • It will go into space on a European Ariane rocket from French Guiana, but before that is possible the delicate hardware must be tested to ensure it will survive the ride.

:: BUSINESS AND ECONOMY ::

CENTRE HAS IMPOSED ANTI-DUMPING DUTY ON STEEL WIRE RODS FROM CHINA

  • Centre has imposed anti-dumping duty on imports of steel wire rods from China to protect domestic manufacturers from cheap in-bound shipments.
  • The Department of Revenue in a notification said anti-dumping duty is being imposed for six months on import of wire road of alloy or non-alloy steel from China.
  • The measure follows recommendation by the DGAD that steel wire road was being exported by China “below the normal value” and “the domestic industry has suffered material injury” because of such imports.

SERVICES SECTOR ACTIVITY IN THE COUNTRY GATHERED PACE

  • Services sector activity in the country gathered pace in October, driven by sharper increase in new business orders amid strong demand and improved market conditions.
  • The Nikkei India Services Purchasing Managers’ Index (PMI), which tracks services sector companies on a monthly basis, stood at 54.5 in October as against 52.0 in September.
  • The Services PMI recorded above the no-change mark of 50.0 for the 16th straight month, highlighting sustained growth in the sector. A reading above 50 means the sector is expanding while below that points to contraction.
  • On the prices front, the survey noted that input costs of providers rose but at a softer rate.

:: SPORTS::

JUSTICE R.M. LODHA COMMITTEE ADVISED BCCI TO COMPLY WITH THE SC

  • Justice R.M. Lodha Committee has advised the BCCI to comply with the Supreme Court orders to “avoid any hindrance to the cricketing calendar and to ensure the continued enjoyment of the sport by its aficionados”.
  • The Supreme Court has asked the BCCI and its full members to adopt the Justice Lodha Committee recommended Memorandum of Association, Rules and Regulations.
  • The Lodha Committee has also told the BCCI that “The proposed MOU between the BCCI and ECB concerns bilateral cricketing policy, the formulation of which is not a part of the mandate of the Committee.”
  • The BCCI has asked the five staging associations — Saurashtra, Andhra, Punjab, Mumbai and Tamil Nadu — if they can host the Test matches without facing financial crunch.

:: IMPORTANT DETAILED NEWS ::

UNION CABINET APPROVES AGREEMENT ON TRADE, COMMERCE AND TRANSIT BETWEEN INDIA AND BHUTAN

The Union Cabinet, chaired by the Prime Minister Narendra Modi, approved the agreement on Trade, Commerce and Transit between India and Bhutan.

The agreement was renewed on 29 July 2006 for a period of ten years. The validity of this agreement was later extended with effect from 29 July 2016, for a period of one year or till the new agreement comes into force through exchange of Diplomatic notes.

The agreement provides for a free trade regime between two countries. It also provides for duty free transit of Bhutanese merchandise for trade with third countries.

Background
The bilateral trade relations between India and Bhutan are governed by the Agreement on Trade, Commerce and Transit between the Government of India and Bhutan.

The traditionally unique bilateral relations characterized by trust and understanding between India and Bhutan have matured over the years and would be further strengthened by execution of the proposed Agreement on Trade, Commerce and Transit Agreement.

UNION CABINET APPROVES AGREEMENT BETWEEN INDIA AND ESTONIA ON THE TRANSFER OF SENTENCED PERSONS

The Union Cabinet approved the signing and ratification of agreement between India and Estonia on the transfer of sentenced persons.

The Agreement will facilitate the Indian prisoners imprisoned in Estonia or vice-versa to be near to their families, for serving remaining part of their sentence and shall facilitate their social rehabilitation.

Background
• Prior to 2004, there was no domestic Legislation under which foreign prisoners could be transferred to the country of their origin to serve the remaining part of their sentence.

• Hence, the Repatriation of Prisoners Act, 2003 was enacted for serving the above purpose.

• For achieving the objectives of the Act, a Treaty/Agreement is required to be signed with countries having mutual interest with India and later to the notified in the Official Gazette.

• Union Government has so far signed bilateral Agreements on Transfer of Sentenced Persons with UK, Mauritius, Bulgaria, France, Egypt, Sri Lanka, Cambodia, South Korea, Saudi Arabia, Iran, Bangladesh, Brazil, Israel, Bosnia, UAE, Italy, Turkey, Maldives, Thailand, Russia, Kuwait and few more.

• So far, total 65 prisoners have been exchanged, out of which 55 were Indians.

UNION CABINET APPROVES NEW PRODUCTIVITY LINKED REWARD SCHEME FOR PORT AND DOCK WORKERS

The Union Cabinet approved the New Productivity Linked Reward (PLR) Scheme for all Major Port Trusts and Dock Labour Board employees and workers for the years 2015-16 to 2017-18.

This PLR scheme will benefit about 38 thousand Port and Dock workers in all the Major Port Trusts and the yearly outgo will be over 49 crore rupees.

Key Highlights

• The PLR will be calculated on the enhanced wage ceiling for calculation of Bonus at seven thousand rupees per month.

• PLR shall be paid annually on the basis of 50 per cent weightage given to all India Performance and 50 per cent weightage given to the individual Port Performance.

• The arrear payments of PLR for the year 2014-15 to the employees will be calculated on the enhanced wage ceiling of seven thousand rupees per month for calculation of Bonus instead of 3500 rupees per month on the existing methodology of combined All India Port Performance.

• The new PLR Scheme will foster better industrial relationship and congenial work atmosphere in the Port Sector, apart from stimulating better productivity.

Besides, the Government also decided to extend stock limits on sugar traders by another six months from 29 October to 28 April 2017 to check price of the commodity. The main objective of the decision is to enable states to issue control order with the prior concurrence of central government, for fixing stock limits and licensing requirements in respect of sugar, whenever need is felt by them.

The move will help improve the availability of these commodities to general public at reasonable rates, and control the tendencies of hoarding and profiteering.

WORLD'S LARGEST MARINE PROTECTED AREA DECLARED IN ANTARCTICA

The Ross Sea, a deep bay of the Southern Ocean in Antarctica, was declared as world’s largest Marine Protected Area (MPA). With this, there will be a blanket ban on commercial fishing across about three quarters of that area for 35 years.

It will be the world's largest marine protected area and covers 1.6 million square kilometers.

The deal was clinched after the meeting of Commission for the Conservation of Antarctic Marine Living Resources (CCAMLR) consisting of 24 countries and European Union in Hobart, Australia. All the participant nations including the European Union unanimously agreed to create the world's largest Marine Protected Area (MPA) in the ocean next to Antarctica.

The agreement comes after years of negotiations brokered by the UN's Commission for the Conservation of Antarctic Marine Living Resources. It also saw high-level talks between the US and Russia, which was rejected in the past. Environmentalists have welcomed the move to protect the Earth's most pristine marine ecosystem.

Ross Sea

• The Ross Sea is a deep bay of the Southern Ocean in Antarctica, between Victoria Land and Marie Byrd Land.

• It derives its name from the British explorer James Ross who visited this area in 1841.

• To the west of the sea lies Ross Island and to the east Roosevelt Island, while the southernmost part is covered by the Ross Ice Shelf, and is about 200 miles (320 km) from the South Pole.

• The nutrient-laden water supports an abundance of plankton and this encourages a rich marine fauna.

• At least ten mammal species, six bird species and 95 fish species are found here, as well as many invertebrates, and the sea remains relatively unaffected by human activities.

• Some species of birds that nest in and near the Ross Sea include the Adelie penguin, emperor penguin, Antarctic petrel, snow petrel, and south polar skua.

• Marine mammals in the Ross Sea include the Antarctic minke whale, killer whale, Weddell seal, Crabeater seal, and leopard seal.

• Antarctic toothfish, Antarctic silverfish, Antarctic krill, and crystal krill also swim in the cold Antarctic water of the Ross Sea.

INDIA, PALESTINE SIGN MOU FOR SETTING UP OF TECHNO PARK IN RAMALLAH

India and Palestine signed a Memorandum of Understanding for setting up of Palestine-India Techo Park in Ramallah. India has announced grant of 12 million US dollars for setting up the Park. Palestinian side has made the land available for the project.

The announcement of the Techno Park was made during President Pranab Mukherjee's visit to Palestine in 2015.

Highlights of the Techno Park

• The Technopark will served as an IT hub in Palestine with complete IT faculties offering a one-stop solution to all IT-related service requirements.

• It will also provide state-of-the-art technology, host IT companies and foreign companies benefiting local business, universities and other institutions.

The assistance is part of India’s strong commitment to support Palestinian cause. The project will help job creation, business and other opportunities for young Palestinians.

LEWIS HAMILTON WINS 2016 MEXICAN GRAND PRIX

Lewis Hamilton outpaced Mercedes team-mate Nico Rosberg to win the 2016 Mexican Grand Prix.

Red Bull’s Daniel Ricciardo ended on the third spot in the race.

About Lewis Hamilton

Lewis Hamilton is a British Formula One racing driver.

He currently races for the Mercedes AMG Petronas team.

He is the 2008, 2014 and 2015 Formula One World Champion.

In his first season in Formula One, Hamilton set numerous records while finishing second in the 2007 Formula One Championship, just one point behind Kimi Raikkonen.

He won the World Championship the following season in dramatic fashion, becoming the then-youngest Formula One world champion in history before Sebastian Vettel broke the record two years later.

Following his second world title in 2014, he was named BBC Sports Personality of the Year.

In 2015, he became the first British driver in history to win consecutive F1 titles, and the second British to win three titles after Jackie Stewart.

He is the only driver in the history of the sport to have won at least one race in each season he has competed to date, with McLaren from 2007 until 2012, and with Mercedes since 2013.

About Mexican Grand Prix

The Mexican Grand Prix is an FIA-sanctioned auto race held at the Autódromo Hermanos Rodríguez in Mexico City.

It first appeared as a non-championship event in 1962 before being held as a championship event from 1963-1970 and 1986-1992.

The Grand Prix returned in 2015 at the Mexico City circuit.

 

 

 

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Last Updated on Monday, 12 December 2016 04:30