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Haryana Proposes tax Free State Budget for 2016-17
- Focus was mainly in rural development and it also proposed relief to the riot-hit traders.
- Budget increased 4% to 88, 781.96 crore in 2016-17
- Fiscal deficit is 47% of GSDP (without UDAY) in 2016-17
Rajasthan celebrates first IT Day
- First IT Day was based on the theme ‘Promotion of IT Start-ups’, in line with the State’s focus on empowering start-ups.
- The State government has launched RajNET — a wide area network connecting the State capital with all 9,894 gram panchayats and 183 municipal areas.
- RajNET aims to strengthen connectivity and allow the inclusion of remote areas through Information Technology.
Recommendations on Taxation of e-commerce submitted by Akhilesh Ranjan Committee
- Committee was constituted by the Central Board of Direct Taxes
- Will examine the business models for e-commerce, identify the direct tax issues in relation to e-commerce transactions and provide suggestions.
Mumbai’s Wilson College adopts railway station for cleanliness
- Part of the Swachch Bharat Abhiyan
- College took the decision in response to the appeal made by the Governor to colleges and universities to adopt a railway stations or any other public place nearest to the institution and to take care of its cleanliness and maintenance.
BHEL commissions second 270 MW thermal unit in Punjab
- It is commissioned at Goindwal Sahibcoal-fired power project in Punjab.
- The first one was commissioned at the site last month.
- The project envisages design, engineering, manufacture, supply, erection and commissioning of steam turbines, generators, boilers, associated auxiliaries and electricals, besides Controls and Instrumentation (C&I) and Electrostatic Precipitators.
Nepal and China to have strategic rail link
- Nepal signed pact with China to build a strategic railway link between the two countries through Tibet
- This will reduce land-locked Nepal’s total dependence on India
- Agreements signed include a feasibility study on the establishment of a Free Trade Agreement, China’s assistance to build a new airport and a border bridge over the Simikot-Hilsa road section that will connect Humla district with Tibet.
- Other agreements included a treaty on economic and technical cooperation to build a Regional International Airport Project at Pokhara, Nepal’s famous tourist site.
IKEA donates Rs 92 crore for safe water projects in India, Indonesia
- Swedish retailing giant IKEA majorly sells Furniture
- It pledged to contribute Rs 92.84 crore to provide safe water and sanitation to one million people in India and Indonesia through Water.Org.
- 2% of contagious diseases in India are linked to unsafe water and the lack of hygiene practices
- 50% of India’s population continues to practice open defecation.
Business and Economy
Current Account Deficit fell to 1.3% of GDP
- Excess of imports over exports has increased current account deficit fall by a further 1.3% of the gross domestic products.
- This is also due to benefits of lower commodity prices.
- Reserve Bank of India data showed current account deficit (CAD) at $1 billion in the third quarter ending December
- Lower than $8.7 billion or 1.7% of GDP in the preceding quarter
Paytm ties up with PVR to sell online movie tickets
- Movie-ticketing market lies about $2 billion, growing at 10% annually.
- Share of online movie marketing is just 15%
Govt panel for levy on e-com through emails, blogs
- A committee on e-commerce has recommended a tax on digital transactions such as emails, blogs and downloads
- Committee has recommended a tax of 6-8% on 13 services, in a bid to prevent tax avoidance by multinationals.
- Recommendations are based on Base Erosion and Profit Shifting guidelines of The Organization for Economic Co-operation and Development (OECD) – which provides economic solutions to member nations.
Cisco to invest $100 million in India; to train over 250,000 students
- Investment aims to connect thousands of villages to the Internet and create jobs.
- Company will work with the Indian central and state governments to start incubation centers for entrepreneurs and to train students.
- will include $40 million that will be used to fund early-stage and growth-stage companies in the country
- Will train around 250,000 students by 2020.
Science and Technology
Prime minister launched Kisan Suvidha mobile app
- Will provide information on subjects such as weather, seeds,market prices, pesticides, fertilizers, and agriculture machinery.
- Developed to help farmers by providing relevant information to them quickly.
Researchers develop new Gravity Map of Mars
- Gravity maps allow us to see inside a planet. It will be helpful for future Mars Exploration missions.
- Better knowledge of the planet’s gravity anomalies helps mission controllers insert spacecraft more precisely into orbit about Mars.
- Improved resolution of the gravity map will help understand the still-mysterious formation of specific regions of the planet.
Environment & Ecology
New Plastic Waste Management Rules to curb 6000 tonnes of plastic waste
- Industries using plastic will have to pay proportionately towards collection through the same distribution system they use for retailing their products.
- This initiative aims to standardize the 50 micron size plastic bags as opposed to the 40 micron ones, which was the minimum permissible limit earlier.
People in News
Ali Mohamed Shein wins the Presidential election of Zanzibar
- He won with 4% of the votes.
- Presidential elections held was the re-run of the elections held in October 2015,
- The elections in October was cancelled on the grounds of fraud.
- Shein won 299982 votes against just 6076 votes (1.9%) won by his main rival Seif Sharif Hamad of the opposition Civic United Front (CUF)
- Hamad was first vice president in the unity government headed by Shein that has been ruling Zanzibar since 2010
Former Intel CEO Andrew Grover dies
- Hungarian-born American businessman, engineer, and author.
- He was 79 and he has been battling Parkinson’s disease for years.
PM presents 2014-15 Krishi Karman Awards
- Awards were presented in two different categories viz. Total food grain production and Individual Crops.
- Madhya Pradesh: For production greater than 10 million tonnes in Category I States.
- Himachal Pradesh and Odisha: For production between 1 and 10 million tonnes in Category II States.
- Arunachal Pradesh and Meghalaya: For production less than 1 million tonnes in Category III States.
- Individual Crops: Total 5 winning states were awarded a trophy, a citation and a monetary award of 2 crore rupees. These states are
- Haryana, Assam: Rice.
- Rajasthan: Wheat.
- Chhattisgarh: Pulses.
- West Bengal: Oil Seeds.
M.Sukumaran chosen for CV Kunhiraman Literary prize
- M Sukumaran is an author and short story writer in Malayalam.
- He was born at Chittur in Palakkad District, Kerala.
5th National Photography Awards
- Aim of this award is to promote Nation’s Art, Culture, Development, Heritage, History, Life, People, and Society and to encourage professional and amateur photographers across the country.
- Official theme of 5th National Photography Award is Save Mother Earth for Professional Photographers and Festivals of India for Amateur Photographers.
Novak Djokovic and Victoria Azarenka win BNP Paribas Open titles
- Novak Djokovic and Victoria Azarenka beat Milos Raonic and Serena Williams respectively in straight sets.
- Men’s Singles – Serbian Novak Djokovic
- Women Singles – Victoria Azarenka of Belarus
- Men’s Doubles – Pierre-Hugues Herbert and his compatriot Nicolas Mahut of France
- Women’s Doubles – US Pair Bethanie Sands and Coco Vandeweghe
Chennai girl wins at street Child Games in Rio
- Hepziba won three medals, including a gold, at the Street Child Games in Rio.
- She sprinted to win in the 100-metre dash
- The tournament is a global movement for street children to receive the protection and opportunities that all children are entitled to
- It unites street children from across five continents to play football and unite in a unique international conference.