Wednesday, 22 March 2017

Daily Update On Current Affairs - March 22, 2017

current affair

Here's your daily summary of Current Affairs.

Vodafone, Idea Merge To Create India’s Largest, World’s 2nd Largest Telecompany

Kumar Mangalam Birla-led telecommunications major Idea Cellular has agreed to merge with the Vodafone India, The Indian unit of the UK-headquartered Vodafone Plc. The blockbuster merger will create world’s second largest (after China Mobile) and India’s largest telecom company by overtaking Bharti Airtel Ltd.

Key Facts:
i. The merged entity will have almost 400 million customers with 35% customer and 41% revenue market share.
ii. It will have the revenue of Rs. 81,600 crore and an operating profit of Rs.24,400 crore.

Together, Vodafone India and Idea Cellular have a debt of Rs. 1.08 trillion. The merger is expected to be completed in 2018. The brand strategy for the new firm will be developed in due course. Kumar Mangalam Birla will be the chairperson of the merged entity. Vodafone will own 45.1% in the combined entity, while Kumar Mangalam Birla and other promoters of Idea Group will own 26% and the rest will be owned by the public.

Supreme Court Suggests Out Of Court Settlement On Ayodhya Issue

Supreme Court suggests an out-of-court settlement of Ram Janmabhoomi-Babri Masjid land dispute at Ayodhya. Uttar Pradesh Chief Minister Yogi Adityanath welcomes the court's sugesstion. The move has been favoured by BJP and Congress.

Government Proposes To Make AADHAR Mandatory For Filing Income Tax Returns And Applying For PAN

According to the amendments proposed by Finance Minister, Income Tax payers would have to declare their Aadhaar number in all Tax Returns filed starting 1st of July, 2017.  They would also have to link the Aadhaar number with the PAN before the July deadline. As per the bill, PAN cards that are not linked will be deemed invalid.

Government Suggests To Cap Cash Transactions At 2 Lakh Rupees Instead Of 3 Lakh Rupees

The Government moved a fresh proposal to cap cash transactions at two lakh rupees instead of three lakh rupees as provided in the Union Budget 2017-18. It is one of the important amendments introduced in the Finance Bill this year. In a tweet, Revenue Secretary Hasmukh Adhia said, the penalty for a violation will be a fine equivalent to the value of the transaction. Finance Minister Arun Jailtey moved the Finance Bill in the Lok Sabha for consideration and passing. The bill seeks to give effect to the financial proposals of the Central Government for the financial year 2017-18.

Rajya Sabha Passes HIV-AIDS (Prevention And Control) Bill To Protect Rights Of Affected HIV Persons.

The Rajya Sabha today passed the Human Immunodeficiency Virus and Acquired Immune Deficiency Syndrome, HIV AIDS (Prevention and Control) Bill, 2014 by voice vote. The bill, which provides for the prevention and control of the spread of the HIV Syndrome and for the protection of human rights of persons affected by the virus, was introduced in the Rajya Sabha today.

Health and Family Welfare Minister J P Nadda said the Bill was introduced in the Upper House in February 2014 after the consultations with people in 29 ministries and 21 departments. He said, the bill gives legislative backing to the people living with HIV and prohibits the feeling of hatred.

Construction Of Affordable Houses For Urban Poor Approved

The Ministry of Housing and Urban Poverty Alleviation approved construction of nearly one lakh 18 thousand affordable houses for the benefit of urban poor in six States under the Prime Minister’s Awas Yojana (Urban). Housing and Urban Poverty Alleviation Minister M. Venkaiah Naidu has asked concerned officials to ensure houses are constructed on time.

"The Yojna will cost five thousand 773 crore rupees for which central assistance of one thousand 816 crore rupees has been approved. The six states include Karnataka, Kerala, Madhya Pradesh, Bihar, Jharkhand and Odisha. Presently more than 17 lakh 60 thousand affordable houses that are being constructed under the Yojna with a total investment of 96 thousand crore rupees for which central assistance of nearly 27 thousand seven hundred crore rupees has been approved. The PMAY was launched by Prime Minister Narendra Modi in June 2015 with the objective of enabling decent homes for all poor urban household.

India And Ethopia Sign Agreement

India and Ethiopia have agreed to strengthen the cooperation in critical areas related to communication and outreach. An official release said the Information and Broadcasting Minister M Venkaiah Naidu met Ethiopia Minister Dr. Negeri Lencho in New Delhi. The cooperation will be worked out through a policy and institutional framework in the various domains.

Call For Strengthening Ties With Nepal

Water Resources Minister Uma Bharti has called for strengthening river water co-operation with Nepal. She stated this while meeting with the Nepalese Irrigation Minister Deepak Giri in New Delhi today. Ms. Bharti suggested setting up of Joint Development Authority for Kosi river on the lines of Pancheshwar Development Authority. She said that the river has an important role to play in strengthening ties with Nepal.

Jadeja Tops Bowler’s, Pujara At No 2 In Batsman’s List

Ravindra Jadeja has gained the top spot in the International Cricket Council's latest test bowler's ranking leaving behind spin twin Ravichandran Ashwin. Cheteshwar Pujara grabbed a career-high second rank among test batsmen. Left-arm spinner Jadeja moved past Ashwin after the nine wickets in the drawn third Test against Australia at Ranchi. Pujara too has reason to celebrate as his knock of 202 has helped him gain four slots to reach a career-best second ranking with 861 points. The Saurashtra batsman has replaced New Zealand captain Kane Williamson and left behind Joe Root and Virat Kohli, at the fourth position.

World Poetry Day Observed

Prime Minister Narendra Modi has congratulated all poets on the World Poetry Day on March 21st. In his message, Mr. Modi said, poetry is at the heart of the oral tradition, giving voice to countless people across the world and bringing out their magnificent creativity.

Singapore Is The World’s Costliest City To Live In

According to the Worldwide Cost of Living Index released by the Economic Intelligence Unit, Singapore has emerged as the Costliest City in the World to Live in, followed by Hong Kong. Almatty in Kazhakastan was rated as the Cheapest City to live in. Two Indian Cities – Bengaluru ( No 3) and Chennai (no 5) are rated amongst the cheapest cities in the world, according to the Index.



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