Daily Current affairs - November 23rd, 2017 for all competitive exams
The Union Cabinet has approved the setting up of the 15thFinance Commission. Under Article 280 (1) of the Constitution, it is a Constitutional obligation. The Terms of Reference for the 15thFinance Commission will be notified in due course of time.
- The Cabinet set the ball rolling for the constitution of the Fifteenth Finance Commission, which will decide the devolution formula for revenue-sharing between the Centre and States from the year 2020 till 2025.
- The Commission, whose members and terms of reference will be notified soon, will have to grapple with the significant changes in the taxation framework, such as the Goods and Services Tax, which has replaced the earlier indirect taxation system.
- Finance Minister Arun Jaitley said that the Cabinet had given an in-principle nod to constitute the Commission and finalise its terms of reference.
Finance Commission is a body set up under Article 280 of the Constitution. Its primary job is to recommend measures and methods on how revenues need to be distributed between the Centre and states.
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Union cabinet approved Scheme on Indian Institute of Corporate Affairs
The Union Cabinet has given its approval for continuation of the scheme on Indian Institute of Corporate Affairs (IICA) for another three financial years (FYs 2017-18 to 2019-20) and providing Grants-in-aid of Rs.18 crore to the Institute.
- It will make the Institute self-sustainable by the end of FY 2019-20.
IICA is a think-tank and repository of data and knowledge to support rational decision-making for the policy makers, regulators as well as other stakeholders working in areas related to the corporate sector.
It offers services to stakeholders in the field of corporate laws, corporate governance, CSR, accounting standards, investor education, etc.
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Swachh Iconic Places
A National Consultation of Swachh Iconic Places (SIP) was recently held at New Delhi. Representatives from 20 Iconic Sites including central and State officials, representatives of iconic places and Corporate and development partners including World Bank took part in the consultations.
- Ten New Iconic sites identified under Phase II are: 1. Gangotri, 2. Yamunotri, 3. Mahakaleshwar Temple, 4. Charminar, 5. Church and Convent of St. Francis of Assissi, 6. Kalady, 7. Gomateshwar, 8. Baijnath Dham, 9. Gaya Tirth and 10. Somnath temple.
Swachh Iconic Places (SIP) is an initiative of Ministry of Drinking Water and Sanitation under Swachh Bharat Mission. Initiated as a project to implement Prime Minister’s vision to take iconic places and their surroundings to higher standards of Swachhata, so that all visitors benefit and also take away home the message of cleanliness, Swachh Iconic Places is now in its second phase.
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Union cabinet approved Pradhan Mantri Mahila Shakti Kendra (PMMSK)
The Union Cabinet has given its approval for setting up of the Pradhan Mantri Mahila Shakti Kendra (PMMSK).
- The government plans to reach the 115 most backward districts in the country with 920 Mahila Shakti Kendra. The government plans to reach the 115 most backward districts in the country with 920 Mahila Shakti Kendra.
- It is envisioned as a one-stop convergence support service for empowering rural women with opportunities for skill development, employment, digital literacy, health and nutrition.
- It will aim to improve declining child sex ratio, ensure survival and protection of the girl child, ensuring her education and empowering her to fulfil her potential.
- At the national level, the Mahila Shakti Kendra will provide domain-based knowledge support while at the state level, it will cater to the State Resource Centre for Women that will provide technical support to the respective government on issues related to women, the district and block level centres, and will provide support to the PMMSK and also give a foothold to Beti Bachao, Beti Padhao in 640 districts.
Union cabinet approved India’s membership for European Bank for Reconstruction & Development
The Union Cabinet has approved India’s Membership for European Bank for Reconstruction & Development (EBRD). Necessary steps will be initiated by the Department of Economic Affairs, Ministry of Finance to acquire the membership of the EBRD.
- Membership of EBRD would enhance India’s international profile and promote its economic interests. It will also give access to EBRD’s Countries of Operation and sector knowledge.
- India’s investment opportunities would get a boost. It would increase the scope of cooperation between India and EBRD through co-financing opportunities in manufacturing, services, Information Technology, and Energy.
The European Bank for Reconstruction and Development (EBRD) is an international financial institution that supports projects in over 30 countries, from eastern Europe to central Asia and the southern and eastern Mediterranean. Investing primarily in private sector clients whose needs cannot be fully met by the market, the EBRD promotes entrepreneurship and fosters transition towards open and democratic market economies.
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Headquarters
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London, UK
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President
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Suma Chakrabarti
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Union cabinet approved Salaries of judges set to increase
The Union Cabinet approved hikes in the salaries of High Court and Supreme Court judges.
- The Supreme Court Judges (Salaries and Conditions of Service) Act, 1958 and High Court Judges (Salaries and Conditions of Service) Act, 1954 will be amended as any decision on judges’ salaries is made through legislative instruments.
- The benefit will be given from January 1, 2016 and the benefits will extend to 31 judges of the Supreme Court, 1,079 judges of the High Courts and about 2,500 retired judges
India asks UN to declare 2018 as the international year of millets
India has sent a proposal to United Nations for declaring the year 2018 as ‘International Year of Millets’. The proposal, if agreed, will raise awareness about millets among consumers, policy makers, industry and R&D sector.
- Promotion of production and consumption of millets through conscious efforts at global level is likely to contribute substantially in the fight against targeted hunger and mitigate the effect of climate change in long run. Popularizing millets would benefit future generations of farmers as well as consumers.
Millet is a common term to categorize small-seeded grasses that are often termed nutri-cereals or dryland-cereals, and includes sorghum, pearl millet, ragi, small millet, foxtail millet, proso millet, barnyard millet, kodo millet and other millets.
Sorghum, Bajra and Ragi are some popular millets in India.
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Government Constitutes 6-Member Panel to Redraft Income Tax Law
The government constituted a task force for redrafting the 50-year old income tax law in sync with the economic needs of the country.
- The six-member task force will have Arbind Modi, CBDT Member (Legislation) as the Convener and other members, including Girish Ahuja (chartered accountant), Rajiv Memani (Chairman and Regional Managing Partner of EY) and Mansi Kedia (Consultant, ICRIER).
- Accordingly, in order to review the Act and to draft a new direct tax law in consonance with economic needs of the country, the Government has constituted a task force,
- The task force will submit its report to the government within six months. Chief Economic Adviser Arvind Subramanian will be a permanent special invitee in the task force.
- The panel has been tasked to draft a direct tax legislation keeping in view the tax system prevalent in various countries, the international best practices and economic needs of the country.
Indian army creates world record with 58 men on a single motorcycle
Fifty-Eight Indian Army personnel set a new world record by riding a single motorcycle at the Indian Air Force (IAF) base in Bengaluru.
- A team Army Service Corps (ASC), popularly known as the ‘Tornadoes’, rode a 500 cc Royal Enfield motorbike for 1,200 metres at the Yelahanka Air Force Station.
- The Defence Ministry said the act is made for the Guinness Book of World Records, Limca Book of Records and Unique World Records.
- The statement added that the ASC team holds 19 world and national records, including one by 56 men riding a motorbike in 2010.
Penal law soon on triple talaq
The Union government has set up a ministerial committee to frame a new law that would attract penal provisions in the case of use of triple talaq or talaq-e-biddat for divorce between Muslim couples, and will be bringing the new Bill in the winter session of Parliament.
- Top government sources confirmed that the committee will likely include a high-profile list of Ministers – Home Minister Rajnath Singh, External Affairs Minister Sushma Swaraj, Finance Minister Arun Jaitley, Law Minister Ravi Shankar Prasad, Minority Affairs Minister Mukhtar Abbas Naqvi and at least two Ministers of State.
- The Supreme Court had, in August this year, in a majority judgement set aside the practice of talaq-e-biddat, an arbitrary and unilateral decision by a Muslim husband to end the marriage by utterance of the word talaq three times.
Delhi airport may become first in India to get bulletproof vehicles
The Delhi airport may soon get a fleet of bulletproof vehicles as part of the Quick Reaction Team (QRT) to minimise the damage in case of an attack.
- The Central Industrial Security Force (CISF), which provides security to 59 of the 98 operational airports in the country, has asked for bulletproof vehicles at Delhi and other sensitive airports.
- If the proposal gets clearance, Delhi will become the first airport in India to get these vehicles.
International air cargo complex opened in Visakhapatnam airport
Union Civil Aviation Minister P Ashok Gajapati Raju inaugurated the new international air cargo complex at the Visakhapatnam airport.
- The State government has given land for extension of runways at Vijayawada and Rajahmundry to facilitate the landing of bigger aircraft.
- The facilities at the Visakhapatnam airport will be improved and the new airport at Bhogapuram in Vizianagaram district will also cater to the needs of the city.
- The new air cargo facility has 674.64 sq metres of space, including 120.06 sq metres open space containing all essential facilities.
Odisha may go with Jagannath Rasagola
The Odisha government is mulling applying for geographical indication registration for the Rasagola associated with Shree Jagannath Temple at Puri, as it will be easier to support the application with historical evidence.
- Soon after the West Bengal government secured the GI registration for ‘Banglar Rasogolla’, senior Odisha officials got into a hurdle to chart out the next course of action for registration of ‘Odishara Rasagola’.
- The West Bengal and Odisha variants of the sweet are different in colour, texture, taste, juice content and method of preparation. The ‘Odishara Rasagola’ is softer and light brown in colour, whereas the Bangalar Rasogolla is white or off-white. The syrup used in both the variants is also different.
Tripura govt makes it mandatory to display tribal languages on signboards
The state government has made it mandatory to display tribal languages on signboards, nameplates and other notice boards in all government building.
- The Union civil aviation ministry has been making flight information announcements at Agartala airport in tribal Kokborok language, in addition to Hindi, English and Bengali.
Gram panchayat certificate no proof of citizenship: SC
The Supreme Court said, A certificate of residency issued by a gram panchayat is not a document of citizenship and is “meaningless” unless supported by some other valid record to make a claim for inclusion in the National Register of Citizenship (NRC).
- The apex court was hearing a batch of pleas challenging the Gauhati High Court order holding that a certificate of residency issued by a gram panchayat (village council) secretary was not a legal and valid document for claim to citizenship.
- About 48 lakh claims have been made using certificates issued by gram panchayat secretaries, out of a total of 3.29 crore claims made so far for inclusion in the NRC which is being prepared in Assam to identify illegal migrants.
NGT sets up committee to monitor STPs in Uttarakhand
After the State of Uttarakhand submitted before the National Green Tribunal that there has been a significant improvement in the working of the sewage treatment plants installed there, the green panel directed the constitution of a monitoring committee.
- Constituting a committee to be headed by the member secretary of the Uttarakhand Pollution Control Board, the Bench said that it will be responsible for compliance of the orders. Further, the Tribunal said that the committee will be comprised of members from the Central Pollution Control Board, senior representatives from the Uttarakhand Jan Nigam and a Professor in the concerned speciality from the Indian Institute of Technology, Delhi.
- The committee will submit a report with regard to the working of the sewage treatment plants as well as on the proposal to establish sewage treatment plants in Haridwar. Additionally, the Tribunal has directed the committee to submit recommendations as well.
BRICS bank approves $ 400 million loans for India and Russia
The Shanghai-based BRICS New Development Bank (NDB) has approved two infrastructure and sustainable development projects in India and Russia with loans of $ 400 million.
- The loans will be used to rehabilitate the Indira Gandhi canal system in India.
- The amount will be useful in building a toll transport corridor connecting Ufa city centre to the M-5 federal highway in Russia.
The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states (Brazil, Russia, India, China and South Africa).
Headquarters: Shanghai, China
President: K. V. Kamath
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India-Russia sign pact for visa-free entry of flight crew
India and Russia have agreed to implement the general declaration for visa-free entry of the crew of chartered and scheduled flights between the two countries.
- The home ministry official said a pact on the issue was signed recently by officials of the two countries.
- The agreement will facilitate visa-free entry, stay and exit of the crew of aircraft of the designated airlines.
- According to official estimates, around 1,200 scheduled flights ply between India and Russia every year.
Robert Mugabe resigns as Zimbabwe’s president after 37 years
Zimbabwe’s President Robert Mugabe, who has ruled the nation for 37 years after its independence, resigned from his post.
- The announcement came during a parliamentary session to impeach Mugabe after he ignored a deadline to resign.
- The country’s military had placed Mugabe under house arrest last week.
- Zimbabwe’s ousted vice president Emmerson Mnangagwa will be sworn in as successor to Robert Mugabe at a ceremony on this week end
Singapore to get driverless buses from 2022
Driverless buses will appear on some roads in Singapore from 2022 as part of plans to improve mobility in the land-scarce city-state.
- Singapore has so far avoided the massive traffic jams that choke other Asian cities like Manila and Jakarta by imposing road tolls, spending massively on public transport and becoming one of the world’s most expensive places to own a car.
- It now plans to embrace self-driving technology to further reduce reliance on cars and improve how people get around.
- Driverless buses will be deployed during off-peak traffic hours in three new suburban towns designed to accommodate the vehicles in a pilot project
Singapore
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Capital
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Singapore
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Currency
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Singapore Dollar
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President
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Halimah Yacob
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Lebanese PM Saad Hariri suspends resignation
The Lebanese prime minister, Saad Hariri, has said he is suspending the resignation that he announced two weeks ago from Saudi Arabia, easing a crisis that had deepened tensions around the Middle East.
- The Lebanese PM eventually conducted a whirlwind tour of Paris, Cairo and Cyprus before landing in Beirut just before midnight on Tuesday, amid breathless coverage from Lebanese media outlets.
- The unusual nature of Hariri’s surprise resignation on 4 November prompted fears that he had been forced to leave office under the orders of his regional backers and that he had been held against his will in Saudi Arabia.
ISRO to launch the first privately built Indian rocket to space by 2021
The Indian Space Research Organisation (Isro) is planning a joint venture with many companies where a space rocket will be completely built by the private industry.
- ISRO chairman A S Kiran Kumar said the target for such a (fully privately built) launch vehicle is 2020-21. Isro will be part of the JV.
- Till now, Isro was the only manufacturer of the Polar Satellite Launch Vehicle.
- In the two decades since PSLV’s debut launch, Isro has launched 39 consecutive successful missions.
NASA’s first parachute test for Mars 2020 mission is successful
NASA successfully tests a supersonic landing parachute that will be deployed in its Mars rover mission set to launch in 2020.
- The mission will rely on a special parachute to slow the spacecraft down as it enters the Martian atmosphere at over 5.4 kilometres per second.
- The Mars 2020 mission will seek signs of ancient Martian life by investigating evidence in place by caching drilled samples of Martian rocks for potential future return to Earth.
BrahMos missile successfully test-fired from IAF fighter jet
The world’s fastest supersonic cruise missile, BrahMos was successfully flight-tested for the first time from the Indian Air Force’s fighter aircraft Sukhoi-30MKI against a sea-based target.
- This was the first time that the missile was successfully flight-tested from the fighter aircraft against a sea-based target
- With this test, BrahMos is now capable of being launched from land, sea, and air.
- The missile, weighing 2.5 ton, is also the heaviest weapon to be deployed on India’s Su-30.
- The missile was gravity dropped from Su-30MKI fighter jet and the two-stage missile immediately headed for its target at the Bay of Bengal.
- The Brahmos cruise missiles have an effective strike range of around 290-300 km.
Oldest stars in our galaxy discovered
Astronomers have discovered some of the oldest stars in our Milky Way galaxy by determining their locations and velocities. Just like humans, stars have a life span: birth, youth, adulthood, old age and death.
- Scientists at Georgia State University in the U.S. focussed on old or “senior citizen” stars, also known as cool subdwarfs, that are much older and cooler in temperature than the Sun.
- In a study, published in The Astronomical Journal , astronomers conducted a census of our solar neighbourhood to identify how many young, adult and old stars are present. They targeted stars out to a distance of 200 light years, which is relatively nearby considering the galaxy is more than 1,00,000 light years across.
NASA shares the stunning farewell image as Cassini concludes the Saturn mission
- NASA has released a stunning view of Saturn and its splendid rings and moons, captured by the Cassini spacecraft.
- The spacecraft captured it during the final leg of its 20-year-long epic journey in space.
- Launched in 1997 the Cassini spacecraft orbited Saturn from 2004 to 2017.
Paytm buys the majority stake in CreditMate
Paytm has picked up a majority stake in CreditMate, a Mumbai-based startup that facilitates two-wheeler loans for customers with no formal credit history.
- The Paytm has been building its credit play after having raised $1.4 billion from SoftBank.
- It recently launched a pay-later option, Paytm Postpaid, in partnership with ICICI Bank.
Canara Bank to sell stake in three subsidiaries to improve capital base
State-owned Canara Bank monetise non-core assets by selling stakes in three subsidiary companies to improve its capital base.
- The bank, as per a regulatory filing, has decided to go for monetisation of non-core assets by selling its shares in part or full in Canara Robeco Asset Management Co, Canbank Computer Services and Can Fin Homes.
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Microsoft’s Skype removed from Apple App Store in China
Skype, Microsoft Corp’s internet phone call and messaging service, has been removed from app stores in China.
- Apple said it had removed several internet phone call apps from its App Store in China after the country’s government said they violated local laws.
- Alphabet Inc’s Google Play app store is not available in China.
North East Development Summit
Manipur is hosting the first ever North East Development Summit (NEDS) 2017 in Imphal from November 21.
- The summit seeks to boost trade and investment in the underdeveloped region. Various international finance agencies will lay down their plan for development in the region.
- It is aimed at “building confidence” and altering the “perception” among visiting delegates and investors.
- India Foundation, a Delhi-based think tank, is organising the summit in collaboration with the Centre and Manipur government.
World Conference on Access to Medical Products and International Laws for Trade and Health
1st World Conference on Access to Medical Products and International Laws for Trade and Health in the Context of the 2030 Agenda for Sustainable Development is being held in New Delhi, India.
- The Conference is being organized by the Ministry of Health & Family Welfare with the support of WHO Country Office for India and in partnership with Indian Society of International Law.
- The objective of the Conference is to exchange knowledge and expand understanding on contemporary issues in international trade laws and research and innovation for access to medical products to achieve SDG 2030 agenda.
Meg Whitman steps down as HP Enterprise CEO
Meg Whitman announced that she will step down as chief executive of Hewlett Packard Enterprise Co.
- Neri will join HPE’s board of directors and Whitman will remain on the board as well.
- She stepped down from the board of HP Inc in July and joined the board of Dropbox in September.
Noted jurist Habibullah Basha passes away
Veteran lawyer Habibullah Basha, one of the finest jurists of the Madras Bar, passed away after a prolonged illness.
- He was a philanthropist and founder-director of the Apollo Hospitals
- During his more than five-decade long career, Basha had held various law officers post such as the central government standing counsel and Tamil Nadu Advocate General and public prosecutor.
Assamese actor Biju Phukan passes away
Popular Assamese film and theatre actor Biju Phukan died
- His first movie was ‘Dr Bezbarua’ in 1970 and his first role as a leading actor was in ‘Baruar Songsar’ followed by ‘Aranya’ in 1971 which established him as a ‘hero’ in 1971.
Ireland picks Malahide to host first ever Test
Ireland cricket has chosen Malahide near Dublin to host the country’s inaugural Test match against Pakistan next year.
- The side, who have playing one-day internationals since 2006, got Test status in June, along with Afghanistan.
- They will make their debut in the five-day format in May 2018.
