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National News
Mou signed by railways between India and Japan
- MoC was signed between Ministry of Railways and Japan’s Ministry of Land,Infrastructure, Transport and Tourism (MLIT) for technical cooperation.
- Union cabinet has approved the MoU signed between Railway ministry between Japan and Russia for technical cooperation
Telengana to replace lightbulbs with LEDs in 25 municipalities in 100 days
- IT Minister KT Rama Rao, Energy Minister G Jagadish Reddy and officials of power sector held a discussion with ESSL to supply LEDs at lower prices
- Existing lightbulbs will be replaced with LEDs in 25 municipalities in 25 days.
CCEA Approved Winding up of National Manufacturing Competitiveness Council (NMCC)
- The National Manufacturing Competitiveness Council has been wound up with immediate effect.
- The mandates of the council were –
- To review economic trends, problems and prospects to evolve efficient and consistent economic policy framework for India.
- To direct and coordinate all economic policies and activities and foreign investments that need economic decisions of the highest order.
NHAI ties up with Indian School of Business for skill development of its technical and managerial manpower.
- Road sector is seen as one of the key areas to achieve objectives of sustained growth.
- ISB will train officials from NHAI on Leadership Program in Infrastructure Management.
- It aims at developing skills and competencies in multiple disciplines
- Strategic planning
- Finance
- Economics
- Law
- Social and environment issues
- The program is funded by NHAI.
Aadhar Bill introduced in Lok Sabha
- Important provisions
- Incorporates clauses to keep personal information discreet and it not being a proof of citizenship.
- Seeks to make the use of Aadhaar mandatory for availing of government subsidies
- Tries to address concerns regarding privacy and protection of personal and biometric information
- Information that is electronic record and will be classified as “sensitive personal data or information” as per the provisions of the Information Technology Act.
- Prohibits the sharing of the core biometric information in any form.
- Directs UIDAI to have sufficient security of identity information and authentication record of individuals
- Special measures will be undertaken to issue numbers to women, nomadic tribes, street dwellers, senior citizens, persons with disability and unskilled and unorganized workers. Aadhar number will not be proof of citizenship or domicile
- Provides for penalties for impersonation, unauthorized access and tampering of data
- Significance of the bill
- Will provide for good governance, efficient, transparent, and targeted delivery of subsidies, benefits and services,
- Uncertainty surrounding the project after the Supreme Court restricted the use of the Aadhaar number has been addressed.
Central Bank issues draft norms for NBFC-AA
- Reserve Bank of India (RBI) has issued draft norms for the creation of new entity in the non-banking financial sector – THE NBFC – Account Aggregator (AA).
- Minimum capital for start such an activity will be 2 crore.
- NBFC had emanated from the Financial Stability and Development Council (FSDC).
- NBFC –AA will act as an account aggregator to enable the common man to see all his accounts across financial institutions in a common format.
- Non-bank financial companies (NBFCs) are financial institutions that provide banking services without meeting the legal definition of a bank (one that does not hold a banking license).
Commerce Ministry to take up differential MAT on SEZs
- Minimum Alternate Tax (MAT) rate of 9% was proposed for IFSC in a SEZ in Gujarat.
- 5% MAT has been retained on all other SEZ developers and units.
- Commerce ministry has been demanding for removal/reduction of MAT on all SEZ developers and units to original rate of 7.5%
- SEZ-specific package has been sought to support Make in India initiative.
- Profit-linked deductions should be available for new units in SEZs starting operations by March end 2023.
International News
EU releases 252 million euros in aid for Palestinians
- The aid will support Palestinian Authority’s health and education programmers and to offer services to refugees in the middle-east.
- The aid will help Palestine become prepared for a more accountable and democratic state in the future.
- It is the first part of the aid package in 2016.
London Most Expensive City to live
- London is voted the most expensive city to live overtaking Hong Kong.
- Study is conducted by real estate firm Savills survey.
- The study compares the total annual cost of renting both residential and office accommodation per person in some of the world’s leading cities.
China launches first self-propelled floating dock
- It is a move to modernize Beijing’s Navy. It will give the ability to repair warships from the coast. The ships would return to fighting capability in very rapid time.
- The dock can handle cruisers, destroyers and submarines and waves up to 2m.
Portugal nominated ex-refugee chief for UN secretary-General
- Former UN high Commissioner for Refugees (UNHCR) Antonio Guterres has been nominated for UN Secretary General by Portugal.
- Ban Ki Moon of South Korea is about to end his tenure in 2016.
- He served as the 10th UN high commissioner from 2005 – 2015.
- He was the Prime Minister of Portugal from 1995-2002.
Sanjiv Kapoor named Vistara’s new chief strategy officer
- Sanjiv Kapoor has been appointed as Chief strategy and commercial officer of Vistara
- He succeeds Giam Ming Toh.
- Sanjiv Kapoor will be responsible for inflight services and ground operations.
- He will oversee strategic planning and commercial operations.
- He served as CEO of Spicejet previously.
Hinduja group acquires Britian building
- Hinduja group has acquired the famous 1,100 room Old War Office Building of Britain in central London for an undisclosed sum.
- The building is situated near the British parliament.
- The building covers 580,000 square feet spread over seven floors connected by over three kilometers of corridors
Business and Economy
10, 050 crore Zojila Pass Tunnel Building Project cancelled
- Zoji-La pass tunnel project in Jammu & Kashmir has been cancelled
- It was South Asia’s longest tunnel project.
- It would offer all weather connectivity to the Ladakh region.
- The contractor IRB Infrastructure Developers has cited no reasons for the contract being cancelled by the Ministry of Road and Transport and Highways.
Science and Technology
Jual Oram launches new website of NCST
- Jual Oram has launched a revamped website for NCST National Commission for Scheduled Tribes in the capital.
- The new website will have an interactive section, mobile app and customer focused and toll free interactive service.
- Will deal with a wide range of issues in society with in relation with tribal welfare.
- Will organize seminars in Delhi and outside on tribal issues.
Awards
Ratan Thiyam conferred with META Awards
- Ratan Thiyam is conferred with Lifetime achievement award 2016
- He is currently the chairman of National school of drama
Poet Bhagwathi Lal Vyas chosen for the Bihari Puraskar Prize in 2015
- He has authored several short stories and poems and acclaimed works.
- The prize was given for his anthology of poems ‘Katha Sun Aawe Hai Sabad’
Sports
Tikhor Park to be setup in Guwahati and Shillong
- Organizing Committee of the 12thSouth Asian Games has decided to set up Tikhor Park in Guwahati and Shillong
- 2 Crorehas been set aside for the project.
- The Parks are mean to preserve the legacy of the South Asian Games
- These Parks will would be set up at Guwahati University and Shillong based North Eastern Hill University.
- The allocated fund comes from the savings of the Mega Event including contributions from Central Public Sector Companies.
Meghalaya to bid for 2022 National Games
- Meghalaya Govt. has decided to bid for 2022 national games.
- Allotment of National Games is done by Indian Olympic Association.
- A grant of 50 crore for 15 sports infrastructure projects under Urban Sports Infrastructure Scheme.
- Project includes multi-purpose halls, astro-turfs for hockey and synthetic athletic tracks.