Wednesday, 7 June 2017

Daily Update On Current Affairs - June 07, 2017

current affairs
 Here's your daily summary of Current Affairs.

Kerala Government Implements Green Protocol For Making Weddings More Nature-Friendly

Kerala State government has come out with a green protocol to make the weddings in the state more nature-friendly. As per the protocol, plastic and other non-biodegradable articles including disposable glasses and plates and thermocol decorations will not be permitted to be used in wedding ceremonies. Instead of these non-biodegradable articles, the marriage parties would be persuaded to use tumblers, plates and other utensils made of glass and environment-friendly metals. The protocol has been released as a part of the government’s anti-plastic drive and Green-Kerala Mission. Suchitwa Mission which is the state nodal agency for sanitation has already launched the initiative on a pilot basis in Kannur, Ernakulam, Kollam and Alappuzha. The protocol is expected to be implemented in the rest of the districts soon. The Mission is collaborating with district administration, panchayat authorities and socio-cultural and religious outfit for implementing the green protocol initiative. For carrying out inspections at marriage halls, convention centres and hotels and other venues of the wedding ceremony, Special squads, comprising officials of Suchitwa Mission and Revenue Department will be formed. In cases of violations of the protocol, action would be taken depending on the nature of utensils and articles used in the ceremony.

India’s Biodiversity Riches Increases By 499 Species

According to the Animal Discoveries 2016, New Species and Records, brought out by the Zoological Survey of India and Plant Discoveries 2016, by the Botanical Survey of India, 499 new species have been discovered from various parts of the country last year.

National Board Of Wildlife Clears Rutland Island For DRDO’s Missile Testing Project

The National Board of Wildlife has approved Rutland Island in South Andaman to be the site for the country’s long-range missile test facility. DRDO has been seeking the approval for the test facility since 2012. Taking into account the strategic importance of the project for country’s defence, the Standing Committee of the National Board of Wildlife has approved the project. 

Reasons for Delay:
The project was continuously stalled by the environment ministry as the project involves diversion of 49.978 acres forest land, of which 0.84 ha falls in the Mahatma Gandhi Marine National Park and 49.138 ha reserve forest within 10km of the Eco Sensitive Zone. Rutland island is also very rich in marine life.

India To Provide 318 Million Line Of Credit To Sri Lanka For Development Of Its Railway Sector

India has signed an agreement to provide fresh assistance of 318 million US Dollar credit line to Sri Lanka for the development of the railway sector in the country. The agreement was signed in Colombo. India has already provided four Lines of Credit for the development of railway sector in Sri Lanka through its EXIM bank amounting to approximately USD 966 million. These credit facilities have been utilized to improve the Southern and Northern railway lines and for the procurement of rolling stocks for the Sri Lanka Railways. 

India Meteorological Department Upgrades Its Earlier Normal Monsoon Forecast From 96% To 98%

India Metrological Department, IMD has upgraded its earlier normal monsoon forecast from 96% to 98% of the Long Period Average. Briefing media in New Delhi today on the second forecast of Southwest Monsoon rainfall, Director General of IMD, K J Ramesh said, quantitatively, the monsoon rainfall from June to September is likely to be 98%, plus minus 4%. He said that the distribution of rainfall would be good across the country. He ruled out the strong EL Nino development.

More Than 1.17 Cr People Trained Under Skill India Programme

Minister of Skill Development and Entrepreneurship Rajiv Pratap Rudy today said over 1.17 crore people have been trained under Skill India programmes. He said, his Ministry is collaborating with Indian Army to meet the shortage of trainers for short term skilling. Addressing media on the achievements and initiatives taken by the government in the field of Skill Development, he said the shortage of trainers was one of the biggest challenges before the Ministry. The Minister informed that National Apprenticeship Promotion Scheme has given apprenticeship training to 5.9 lakh people. He said Centre has allocated 10,000 crore rupees to the Scheme. Mr. Rudy said Skill Development Ministry is just 2.5 years old but they have already put a robust mechanism in place.

Sher Bahadur Deuba Elected As 40th Prime Minister Of Nepal

Sher Bahadur Deuba,70, has been elected as Nepal’s Prime Minister for the fourth time. He was the only candidate who contested the elections as the main opposition party UML decided to end the obstruction of Parliament and did not register its candidates for the election. Deuba managed to secure 388 votes in the 593 strong Parliament in order to prove his majority. Deuba has served as Nepal’s prime minister for three terms from 1995 to 1997, from 2001 to 2002, and from 2004 to 2005. In 2005, during his third term, he was sacked by the then King Gyanendra Shah in 2005 over his failure to hold elections and bring Maoist rebels to negotiations. The responsibility of conducting the local elections in the remaining four provinces will rest upon him.

US Prez Calls King Salman On Qatar Crisis, Asks For Gulf Unity

US President Donald Trump spoke to Saudi Arabia's King Salman and called for a united Gulf Cooperation Council to fight terrorism and promote stability in the region. The White House said both the leaders discussed ways to prevent terror financing and eliminate extremism by any country in the region. During the phone call, Trump underscored that a united Gulf Cooperation Council is critical to defeating terrorism and promoting regional stability, the White House said. White House Press Secretary Sean Spicer said that the US continues to be in close communication with all the parties to resolve the issues and restore cooperation which is so important to regional security there. Earlier, President Trump has claimed credit for the pressure being placed on Qatar by Gulf neighbours who accuse it of supporting terrorism in the region. In a tweet, he said his recent visit to Saudi Arabia was already paying off and the development might mark the beginning of the end to the horror of terrorism. Several countries have cut travel and embassy links with Qatar alleging that Qatar harbours extremists and backs Saudi Arabia's regional rival, Iran. Qatar has denied the allegations.

UN Chief Warns Of Serious Clean Water Shortages By 2050

United Nations Secretary-General Antonio Guterres has warned that by 2050 global demand for fresh water is projected to grow by more than 40 percent and at least a quarter of the world's population will live in countries with a chronic or recurrent lack of clean water. Speaking at the Security Council yesterday, Mr.Guterres said strains on water access are already rising in all regions. Noting that three-quarters of the 193 UN member states share rivers or lake basins with their neighbours, he said water, peace, and security are inextricably linked. UN chief said the United Nations is ready to engage in preventive diplomacy to keep the competition for water from sparking conflicts.

Australian Economy Ties World Record For Longest Expansion Despite Soft Q1

Australia's economy shrugged off a cyclone powered bad-weather hit to exports and home building in the first quarter, posting just enough growth to claim nearly 26 years without a recession - equalling the Netherlands' 103-quarter record. Data from the Australian Bureau of Statistics on Wednesday showed gross domestic product (GDP) grew at annual rate of 1.7 percent - the slowest since third-quarter of 2009 when it clocked 1.2 percent. The local dollar gained a third of a US cent after GDP matched expectations of a 0.3 percent rise in the first quarter, from the fourth when it ran at 1.1 percent. Australia hasn't seen a recession since 1991 and its run of growth had been the envy of other rich nations although it is dropping off the pack now with both the Britain and the United States clocking 2 percent annual growth in the first quarter.

Vijaya Bank Plans To Develop 100 Digital Villages

Vijaya Bank has stated that it plans to develop as many as 100 digital villages in various States across the country as part of its initiative to promote digital banking among the rural population. At present, Vijaya Bank is the only public sector financial institution to develop digital villages with the focus on rural population. Already, the bank has developed 5 villages into Digital Villages. In the Digital Villages, the bank would offer Internet, free Wi-Fi connectivity, mobile payment facilities, ATM cards, online banking and will carry out a door-to-door campaign to educate the villagers. 

Ministries To Decide On FDI Proposals Within 60 Days

The government said that Ministries will have to decide on FDI proposals within 60 days of the application and any rejection will need the concurrence of the Department of Industrial Policy and Promotion, DIPP. India had last month scrapped the 25-year old foreign investment advisory body Foreign Investment Promotion Board, FIPB in an attempt to attract more FDI by providing quick approvals. In an office memorandum, the Finance Ministry said subsequent to the abolition of FIPB, concerned administrative ministries have been allocated the work of granting approval for foreign investment in the specific sector. It said, the Standard Operating Procedure will involve the process of inter-ministerial consultation for the examination of FDI proposals, wherever necessary. All pending applications with the FIPB would be transferred to the administrative ministry and oversight of the FIPB portal shall be transferred to the DIPP. FDI approval decisions in a majority of the sectors have been relegated to concerned ministry and those relating to private security agencies would be decided by the Home Ministry.

CAG Will Audit Goods And Services Tax Network

Finance Minister Arun Jaitley today made it clear that Comptroller and Auditor General of India will audit the Goods and Services Tax Network (GSTN). GSTN is a company that provides technology backbone for the Goods and Services Tax (GST). Talking to a private news channel, Mr. Jailtey said, the present structure of GSTN was decided by the United Progressive Alliance (UPA) when Mr. P Chidambaram was the Finance Minister and he personally reviewed the entire structure and there was nothing disagreeable. He reasoned that GSTN has to match various vouchers, literally in hundreds of crores every month and therefore it needs an extremely efficient IT network. The Income Tax Department on Tuesday notified rules specifying equity transactions that will attract capital gains tax if securities transaction tax (STT) was not paid to them. The move comes after the Finance Act 2017 that aimed to curb the practice of declaring unaccounted income as exempt long-term capital gain by entering into sham transactions.

IT Dept Notifies New Rules For Capital Gains Tax Exemption

According to the notification that follows draft rules issued in April this year, the Central Board of Direct Taxes (CBDT) has specified transactions where payment of STT would be mandatory to get the benefit of exemption from capital gains tax. These include acquiring existing listed equity shares through a preferential issue in a company whose shares are not frequently traded, transactions of the stock exchange, and acquisition during the delisting period of the company. “This notification shall come into force with effect from April 1, 2018, and shall accordingly apply to the assessment year 2018-19 and subsequent assessment years,” said the CBDT. However, other genuine transaction, such as an acquisition of equity shares by venture capital or investment funds, employee stock options, foreign direct investments by non-resident Indians and off-market transactions in schemes approved by the Supreme Court, high court, National Company Law Tribunal, SEBI and RBI, continue to be exempt.

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