Daily News Analysis for IAS / UPSC (24th June, 2016)


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Rs. 6,000 crore package for textiles, apparel

  • To establish over 1 crore new jobs in three years
  • Investments extent of USD 11 billion and producing USD 30 billion in exports


Protocol amending the Agreement for avoidance of double taxation and prevention of fiscal evasion with Belgium

  • in order to avoid the double taxation and prevention of fiscal evasion with respect to Income Tax.


MoU between India and Germany

  • Technology resourcing in manufacturing and enclosed with sub­ sectors of Capital Goods.


Union Cabinet extends deadline of UDAY scheme

  • all states shall take over 75% of ailing DISCOMs debt as on 30th September, 2015 by 31st March, 2017 by issuing Bonds.
  • extension is also to give states that have given their in-principle nod a little more time to order their finances before signing the official document.
  • extending the deadline for implementing the Ujjwal Discom Assurance Yojana (UDAY) by a year to March 31, 2017. 


Maharashtra Government grants minority status to Jews

  • State Cabinet approved based on the Maharashtra State Minorities Commission Act, 2004, which sanctions the government to declare a community minority.
  • Jews can avail of all the schemes meant for minorities. As per the 2001 census, there are 4,650 Jews in the country of whom 2,466 are in Maharashtra.


Mumbai is India’s most expensive city

  • Indian financial capital Mumbai has emerged as India’s most expensive city for expatriates.
  • Hong Kong topped thelist of most expensive cities for expatriates, pushing Luanda, Angola, to second position.
  • the world’s least expensive cities for expatriates are Windhoek (209) in Namibia, Cape Town (208) in South Africa and Bishkek (207) in Kyrgyzstan bordering Central Asia.


Aadhaar to be linked with caste, domicile certificates

  • First-of-its-kind initiative by the Centre.
  • The states have to ensure that such certificates are issued within 60 days’ time to the students when they are studying in Class V or VIII.
  • State government authorities concerned would verify the documents and issue the relevant certificates preferably within 30-60
  • to avoid difficulties faced by SC and ST students.



North Korea test-fired Musudan ballistic missiles

  • The first launched missile under failure which was travelling about 150 km before north-korea-missile landed to the sea
  • second missile is more efficient than previous one which is flew about 400 km and touched height of 1,000 km.


Business and Economy

RBI fixes MSS ceiling at Rs 30k cr for current fiscal

  • fixed ceiling will be reviewed when the remaining balance reaches the threshold limit of Rs 15,000 crore.
  • current MSS outstanding balance is zero. MSS are securities issued with the objective of provided that RBI with a stock of securities with which it can intervene in the market for handling liquidity.


Tech Mahindra acquires UK-based digital player The BIO Agency

  • Tech Mahindra Ltd has acquired UK-based BIO for 40 million poundsin an all-cash deal to develop its digital group.
  • UK major specializes in digital transformation and innovation, helping organizations change the way they take part with their customers.
  • services brands across financial services, retail, property, travel, and technology sectors.
  • fifth largest IT player’snew acquisition will help to compete with larger global rivals, Accenture and Cognizant, who have been able to build strong digital portfolios.


People in News

Takayuki Inaba appointed NEC India MD

  • Inaba replaces Koichiro Koide,who has been leading NEC India for last two years.
  • Inaba was an executive specialist at NEC’s Global Products and Services Division, before moving to the Marketing and New Business Creation division.
  • will be responsible for leading and expanding NEC India’s business offerings in the country and will report to Tetsuro Akagi,Chief Executive Officer of NEC Asia Pacific and Senior Vice President of NEC Corporation.


Syria’s Assad names new prime minister

  • President Bashar al-Assadappointed electricity minister Imad Khamis as the new prime minister of the war-bound nation.
  • Khamis, who is an engineer replaces Wael al-Halqiwho had held the post since August 2012,
  • he had served as Syria’s minister of electricity since 2011and is an electrical engineer by trade.


PayPal appoints Anupam Pahuja as India Country Manager and MD

  • Prior to this appointment he has been heading the technology for APAC, Pahuja has been with the company for over six years.
  • will be responsible for all aspects of PayPal’s India Operations and further strengthening the company portfolio in India.


Ken Miyauchi to replace Nikesh Arora as SoftBank president

  • he would be the president and chief operating officer to replace Nikesh Arora.
  • Miyauchi held 1,101,230 shares of SBGas of March 31, 2016.
  • Arora had resigned from his position after it became obvious that Chairman and CEOMasayoshi Son wanted to continue in his current post for another 5-10 years.


LIC Chairman S K Roy Resigns Two Years Before His Term Ends

  • The reasons for his resignation are not known.
  • Roy was appointed as a chairman in 2013 during UPA government, He was associated with LIC since 1981.


Science and Technology

ISRO to test indigenously developed scramjet engine

  • comprising indigenously-developed& based on air-breathing propulsion scramjet engine hitched to a two-stage sounding rocket (RH- 560).
  • vehicle is being fabricated at the Vikram Sarabhai Space Centre and the ISRO Propulsion Complex, Mahendragiri.
  • test will take place from the Satish Dhawan Space Centreat Sriharikota next month.



Mary Kom denied wild card entry into Rio Olympics

  • Kom had failed to secure a berth through the qualification round in the past month.
  • She was a bronze-medallist at the 2012London Olympics.
  • International Olympic Committee said in a reply notice to the Indian Body that the wild card should be used for a nation which has not enough athletes to represent at the Olympics.


India won three-match T20 Series against Zimbabwe, 2-1

  • India wrapped up a successful tour of Zimbabwe with a 2-1 T20 series win
  • All the three T20 internationals have played at Harare Sports Club, Harare.
  • victory also brings another feather to the Indian skipper that equaled Ricky Ponting’srecord of captaining in 324 international matches
  • Dhoni led India in 60 Tests, 194 ODIs and 70 T20 Internationals.