Daily Current affairs - March 15, 2018 for all competitive exams
World Consumer Rights Day is celebrated globally on 15th
March.
- It
is an awareness day and theme for this year’s WCRD 2018 is ‘Making Digital
Marketplaces Fairer’.
- The
day is an opportunity to promote basic rights of all consumers, demanding
that those rights are respected and protected.
It marks the
date in 1962 President John F Kennedy first outlined the definition of
Consumer Rights.
WCRD was
first observed on 15 March 1983, and has since become an important occasion
for mobilising citizen action.
Consumers
International (CI), which was founded in 1960 organises WCRD. It is the only
independent and authoritative global voice for consumers and has over 220
member organisations in 115 countries around the world.
India
adopted the Consumer Protection Act, later in 1986, thus providing a legal
face to the Indian consumers. One of the strongest campaigns for addressal
and protection of consumer rights in India, is “Jago Grahak Jago” which
literally translates into, “wake up consumers”! This multimedia campaign from
Ministry of Consumer Affairs, Government of India is aimed at creating an
aware consumer.
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World Bank sees FY19 growth at 7.3%
The World Bank forecasts India’s economic growth will
accelerate to 7.3% in 2018-19, from 6.7% in the current financial year, before
gathering momentum to a 7.5% pace in 2019-20.
- The
Central Statistics Office has projected GDP growth for the 12 months
ending March 31, at 6.6%.
The bank’s India Development Update divides India’s
economic growth history into four segments. The first is from 1970 to 1990,
when the economy maintained an average growth rate of 4.4%. This subsequently
accelerated in the 1991-2003 period to an average of 5.4%. Thereafter, growth
accelerated sharply for a short period from 2004 to 2008, where it averaged
8.8%, which then slowed down to a “still impressive” average of 7.1% in the
2009-17 period
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India’s GST rate second highest in the world:
World Bank
The World Bank has said India’s highest GST rate of 28% is
the second highest among a sample of 115 countries which have a similar
indirect tax system.
- It
also said the different GST rates prevalent in the Indian system make it
complex for compliance.
- As
many as 49 countries around the world have a single slab of GST, while 28
countries use two slabs, and only five countries, including India, use
four non-zero slabs. The countries that use four or more slabs of GST
include Italy, Luxembourg, Pakistan and Ghana. Thus, India has among the
highest number of different GST slabs in the world.
India’s GST structure has five tax slabs of 0,
5%, 12%, 18%, and 28%. Further, there are several exempted sales and exports
are zero rated, which allows exporters to claim refund for taxes paid on
inputs. Separately, gold is taxed at 3% rate, precious stones at 0.25%, while
alcohol, petroleum products, stamp duties on real estate and electricity
duties are excluded from the GST and continue to be taxed by the state
governments at state-specific rates.
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Union government presented appreciation certificates for e-office
programme
The government
has presented the Certificates of Appreciation to 34 Ministries/departments for
implementation of e-office programme in their respective
ministries/departments.
- The
awards have been given by the Department of Administrative Reforms &
Public Grievances (DARPG),
Ministry of Personnel, Public Grievances and Pensions, Government of
India.
- E-Office
is one of the Mission Mode Projects under Digital India Programme.
The e-Office
solution enables core operations of the Government at all levels to be
performed in a virtual ‘paper-less’ environment. This application is, thus, a
major step in realizing the objective of an open and responsive Government.
The
Department of Administrative Reforms and Public Grievances (DAR&PG) is
the nodal Department for implementation of e-Office project. National
Informatics Centre (NIC) is the technical partner in this project.
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Union cabinet approved agreement for Avoidance of Double Taxation
between India and Iran
The Union
Cabinet has approved an Agreement for the Avoidance of Double Taxation and the
Prevention of Fiscal Evasion with respect to taxes on income between India and
Iran.
- The
Agreement will stimulate flow of investment, technology and personnel from
India to Iran & vice versa, and will prevent double taxation.
- The
Agreement will provide for exchange of information between the two
Contracting Parties as per latest international standards. It will thus
improve transparency in tax matters and will help curb tax evasion and tax
avoidance.
The proposed
Agreement also meets treaty related minimum standards under G-20 OECD Base
Erosion & Profit Shifting (BEPS) Project, in which India participated on
an equal footing.
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NGT issues notice to BCCI, 9 States
The National Green Tribunal (NGT) issued notices to the Board
of Control for Cricket in India and nine States on a petition alleging that
water would be misused during the upcoming Indian Premier League matches.
- The
petitioner further sought a ban on the tournament, citing wastage of water
in the process of preparing the cricket pitches.
- The
plea filed by Alwar resident Haidar Ali
A bench, headed by judicial member Jawad Rahim, sought
responses from the BCCI, the Ministry of Water Resources and nine States,
including Delhi, West Bengal, Maharashtra, Karnataka and Telangana. The panel
directed the respondents to file their replies within two weeks.
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TS to enact law on DGP’s appointment
The State Cabinet which met to approve the budget to be
presented in the Assembly decided to enact a legislation to vest powers with
the State government on the appointment of Director General of Police (DGP).
- Under
the present system, the government has to empanel probable candidates for
the post and refer it to the Union Public Service Commission to shortlist
the names and send it back to the State for a final decision.
Cabinet also decided to relax the one-year compulsory
government service norm for PG medical students. One more corporation will be
set up in irrigation department and two reservoirs will be constructed
downstream Chanaka - Korata barrage in Adilabad district.
The Cabinet also decided to bring the health schemes for
journalists and employees under the purview of Aarogyasri, allot 15 acres of
land to Sai Sindu foundation and 56 acres for Rachakonda police
commissionerate. Two acres of land will be allotted for construction of
Videshi Bhavan in Hyderabad.
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Telangana Budget 2018-19 accords priority to
agriculture, irrigation and power sectors
Telangana Finance Minister Eatala Rajender presented the last
full budget of his government for 2018-19 with a total outlay
of Rs.1,74,453.84 crore, giving a lion’s share of the allocations to
agriculture, irrigation and power sectors.
Of the Rs.1.74 lakh crore estimated total expenditure,
the revenue expenditure is Rs.1,25,454.70 crore and capital expenditure
Rs.33,369.10 crore. The capital expenditure is 19 percentage of the total
expenditure.
- The
State’s own revenue receipts for 2018-19 are proposed at Rs.73,751.88
crore, up by 20% over that of the revised Budget estimates of 2017-18.
Transfers from the Centre are estimated at Rs.29,041.88 crore, a
marginal increase over that of 2017-18.
- While
the agriculture and marketing sector got an allocation of Rs.15,788
crore, irrigation was given Rs.25,000 crore and the power
sector Rs.5,650 crore — all the three sectors have been linked to
give a boost to the agriculture sector and enhance the incomes of farmers
that accounts for Rs.46,438 crore.
The Minister announced the constitution of Farmers
Coordination Committees to unite the farmers and ensure minimum support price
(MSP), and allocated Rs.500 crore for the Rythu Bheema scheme, Rs.522
crore to promote farm mechanisation, besides making allocations for
construction of additional godowns, marketing facilities and cold storage
linkages.
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TDP all set to quit NDA, to support YSRCP’s
no-trust motion
The Telugu Desam Party is all set to leave the BJP-led
National Democratic Alliance, upset with the way the latter was pitting Jana
Sena and the YSRCP against it while showing no political inclination to grant
Special Category Status (SCS) and concede other demands raised by the party
during the last days.
- Significantly,
the party has also decided to support a no-confidence motion being moved
by the YSRCP, against the Narendra Modi government over the SCS.
- The
motion may or not be accepted but the objective being to highlight SCS and
other demands in the Parliament, the TDP feels it should be on the same
page setting aside political differences as it concerns the interests of
the State.
A.P. School Safety Curriculum launched
Andhra Pradesh Human Resource Development Minister Ganta
Srinivasa Rao launched a School Safety Curriculum, an initiative to integrate
safety and protection of children in the daily school programmes.
- The
effort stands as the first of its kind in India to fulfil the norms of the
National Disaster Management Authority’s school safety guidelines. It will
make AP schools safe and protected. The government is committed to child
protection and it is the right of the children to have a safe learning
environment
- The
curriculum would be integrated from class III to X and will be available
for students from 2018-19 in the Telugu language.
Himachal CM launches handbook on women safety
To empower womenfolk, Himachal Pradesh Chief Minister Jai Ram
Thakur released a handbook titled ‘Mahila Suraksha’ on women safety.
- The
booklet talks about measures required for personal safety and safeguards
regarding crimes, including sexual harassment at workplace.
- It
also contains important telephone and helpline numbers.
India, Madagascar sign umbrella agreement in
Defence Sector
India and Madagascar have signed
an umbrella agreement in the field of defence.
- Under
the agreement, both the countries will explore various ways of co-operation
in the field of defence. An amended air service agreement was
also signed to support efforts towards improving connectivity between the
two countries.
Both the countries will have a co-sharing
agreement with Air Seychelles through Air India and Air
Madagascar. This was announced by President Ram Nath Kovind after
delegation-level talks with his Madagascar counterpart in Antananarivo.
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Health Ministry and WHO signed agreement for
enhanced cooperation for Healthcare
Tedros Adhanom Ghebreyesus, Director General of
WHO met J.P. Nadda, Union Health and Family Welfare Minister in
New Delhi. They discussed perspectives on national, regional and global public
health program.
- To
strengthen collaborative work between India and WHO in achieving improved
health outcomes, Ministry of Health and Family Welfare and World
Health Organization (WHO) signed a Memorandum of Agreement (MoA).
Nepal Prime Minister KP Oli sacks Chief Justice
Gopal Parajuli
The Judicial Council of Nepal ‘sacked’ Chief Justice Gopal
Prasad Parajuli.
- A
day after he rejected Prime Minister K P Oli’s request to resign or take a
long leave.
- Parajuli
called the Council’s act illegal and said he would remain the Chief
Justice.
Oklahoma to become first US state to use
nitrogen gas for executions
Oklahoma plans to start using nitrogen gas for executions in
what would be the first such method of capital punishment in the United States.
- The
state is turning to nitrogen after it and other states became unable to
acquire drugs.
Nitrogen is an odourless and tasteless gas that makes up
about 78 percent of the air humans breathe but causes death when inhaled
without any oxygen.
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IBBI Signs MoU with Reserve Bank of India
The Insolvency and Bankruptcy Board of India
(IBBI) signed an MoU with the Reserve Bank of India (RBI).
- Under
the MoU, the RBI and the IBBI will work in partnership for the effective
implementation of the Insolvency and Bankruptcy Code, 2016 and its allied
rules and regulations.
The Insolvency and Bankruptcy Board of India (IBBI) is the
regulator for overseeing insolvency proceedings and entities like Insolvency
Professional Agencies (IPA), Insolvency Professionals (IP) and Information
Utilities (IU) in India. It was established on 1 October 2016 and given
statutory powers through the Insolvency and Bankruptcy Code, which was passed
by Lok Sabha on 5 May 2016.It covers Individuals,Companies,Limited Liability
Partnerships and Partnership firms. The new code will speed up the resolution
process for stressed assets in the country. It attempts to simplify the process
of insolvency and bankruptcy proceedings.It handles the cases using two
tribunals like NCLT(National company law tribunal) and Debt recovery
tribunal.
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Suryoday bank opens first partner-led outlet
Mumbai-based Suryoday Small Finance Bank Ltd., (SSFB) opened
its first ‘partner-led outlet’ in Chennai by joining hands with an experienced
banker to expand its footprint, said a top executive.
- As
of December 2017, SSFB had a deposit base of Rs. 527 crore and a gross
loan portfolio of about Rs. 1,352 crore. Retail deposits accounted for Rs.
196 crore, which contributed 37% of total deposits.
- Gross
nonperforming assets stood at 7.2% and net NPA at 3.6%.
5th edition of Annual Survey of India’s City-Systems
(ASICS) released
The fifth
edition of the Annual Survey of India’s City-Systems (ASICS) by
Janaagraha Centre for Citizenship and Democracy has been released.
The objective
of the survey was to measure the preparedness of cities to deliver high quality
infrastructure and services in the long term by evaluating “city systems”.
- The
survey spans 23 Indian cities and factors in answers to 89 questions. The
cities were scored based on the quality of laws, policies, institutions
and institutional processes that together help govern them.
- ASICS
groups questions into four categories: urban
planning & design; urban capacities & resources; transparency,
accountability & participation; and empowered & legitimate
political representation.
- Pune,
Kolkata and Thiruvananthapuram top the country in terms of urban
governance.
- Among
the medium cities (with a population of up to one million), Ranchi has
broken into the top 10 with a score of 4.1. Bengaluru and Chandigarh
(perceived as a planned city) figured at the bottom of the list.
- On
a scale of 10, the 23 cities – many of which are part of the government’s
flagship smart cities mission – scored between 3 and 5.1 on four key
components of governance.
World happiness Report 2018: India ranks 133rd,
Finland tops
The World Happiness Report is a landmark
survey of the state of global happiness.
- The
World Happiness Report 2018 ranks 156 countries by their happiness
levels, and 117 countries by the happiness of their immigrants.
- Burundi in
East Africa is the unhappiest place in the world. The study reveals
the US has slipped to 18th place, five places down on 2016.
- India
ranks 133rd in the report after Pakistan (75th), China (86th) and
Nepal (101st)
- Finland,
rose from fifth place last year to oust Norway from the top spot.
- The
United States came in at 18th, down from 14th place last year. Britain was
19th and the United Arab Emirates 20th.
- Top
3 countries in the list are- Finland, Norway, Denmark
Indian film ‘Halkaa’ bags award at Montreal
fest
Indian filmmaker Nila Madhab Panda’s “Halkaa” has bagged the
Grand Prix de Montreal at the gala.
- “Halkaa”
was selected among seven international children’s films from different
countries in the official competition of the festival.
- The
film is a take on a slum child’s heroism, aspirations, and dreams.
Pakistan football team’s international ban
lifted by FIFA
Pakistan’s ban from international soccer is lifted by FIFA
following the end of undue third-party interference.
- The
ban, in force since October, had barred Pakistan’s teams, including the
senior national side, from playing in international competition.
- FIFA
said it lifted the ban after an administrator appointed by the Lahore High
Court was directed to hand control back to the PFF.
