Hello and welcome to ExamPundit. Here are the Important Current Affairs of 17th June, 2015. These are important for the upcoming SBI PO Mains Exam 2015 and RBI Assistant 2015 Exam.
Finance/Economy
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FinMin Sets Up Two
Panels for Roll Out of GST From April 2016
Panels for Roll Out of GST From April 2016
- Gearing up to roll out GST from April 1, 2016, the Finance
Ministry today set up two committees to suggest tax rates and look into IT
preparedness for the new indirect tax regime. - Committee formed under the Finance Ministry’s Chief Economic
Advisor would “recommend possible tax rates under GST that would be
consistent with the present level of revenue collection of Centre and
states,” a statement said. - While making recommendations, it would take into account
expected levels of growth of economy, different levels of compliance and
broadening of tax base under Goods and Services Tax (GST), Finance Ministry in
a statement said. - “The Committee would also analyse the sector-wise and
state-wise impact of GST on the economy. The Committee is expected to give its
report within two months,” it said. - The statement added, Steering Committee has been formed
under the Co-Chairmanship of Additional Secretary of Revenue Department and
Member Secretary of Empowered Committee (EC) of State Finance Ministers. - The panel has members from Revenue Department, Central Board
of Excise and Customs, Goods and Services Tax Network (GSTN) and representatives
of state governments. - It would monitor the progress of IT preparedness of
GSTN/CBEC/Tax authorities, finalisation of reports of all the sub-committees on
different aspects relating to the mechanics of GST and drafting of CGST, IGST
and SGST laws/rules.
Govt Okays 16 Foreign
Investment Proposals Worth Rs 6,751 Cr
Investment Proposals Worth Rs 6,751 Cr
- The government today approved 16 foreign investment
proposals, including those of Torrent Pharmaceuticals and Star India Private
Limited, amounting to Rs 6,750.86 crore. - “Based on the recommendations of Foreign Investment
Promotion Board (FIPB). Government has approved 16 proposals of Foreign Direct
Investment (FDI) amounting to Rs 6,750.86 crore,” Finance Ministry said in
a statement. - The proposals were cleared during the FIPB meeting held on
May 28, it added. - However, a total of 21 proposals were deferred during the
meeting and six others were rejected. - The government has approved Torrent Pharmaceuticals’
proposal for increasing FII investment from 13.09 per cent to 35 per cent. - While, Syngene International has been allowed to raise
foreign investment to 44 per cent from 10 per cent by initial public offering
of equity shares to FIIs, FPIs and NRIs. - Broadcaster Star India Private Limited has been given
approval for further issuance and transfer of shares to its foreign
collaborator and acquisition of another Indian company engaged in broadcasting
sector on a slump sale basis.
India and Poland set
trade target of 5 billion US dollars by 2018
trade target of 5 billion US dollars by 2018
- India and Poland set trade target of 5 billion US dollars by
2018. The decision was taken on 15 June 2015 at the fourth session of the
bilateral Joint Commission on Economic Cooperation, held in Warsaw, capital
city of Poland. - The commission also identified a series of actions to raise
trade from the 2014 level of 2.3 billion US dollars to 5 billion US dollars by
the year 2018. - The meeting of the commission was co-chaired by Amitabh
Kant, Secretary, Department of Industrial Policy and Promotion (DIPP) and Jerzy
Pietreiwicz, Secretary of State, Ministry of Economy of Poland.
India Emerges as UK’s
Third Largest FDI Source in 2014
Third Largest FDI Source in 2014
- The UK today said it has maintained its position as the
number one destination for FDI in Europe after attracting a record number of
projects from over 70 countries including India, bringing in the largest
financial value and associated jobs over the past year. - Investment from India increased by 65 per cent, making it
the UK’s third largest source of FDI accounting for over 9,000 new and
safeguarded jobs. - The annual investment figures from UK Trade and Investment
(UKTI) for 2014-15 show Britain attracted 1,988 FDI projects – 12 per cent more
compared to 2013-14, estimated to have brought with them almost 85,000 new jobs
and 23,000 safeguarded jobs across the UK. - The UK’s strong performance during 2014 has seen the
country’s inward FDI stock – the value of accumulated FDI in the UK – break the
1 trillion pound-level for the first time. - This is the highest in Europe and the third in the world
after the United States and China.
India
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ISRO’s GAGAN to
provide navigational support to Railways
provide navigational support to Railways
- ISRO has said it will provide navigational support to the
country’s Railways through ‘GAGAN’ (GPS-aided geo-augmented navigation) system. - GAGAN is an indigenous navigational guide system developed
by ISRO on the lines of GPS system of the U.S. - GAGAN was jointly developed by the ISRO and Airports
Authority of India (AAI) with a view to assist aircraft in accurate landing. - The GAGAN signal is being broadcast through two Geostationary
Earth Orbit (GEO) satellites — GSAT8 and GSAT10. - With the use of GAGAN software system, a tr ain would know
the location of any unmanned level crossing and soon a a warning signal can be
given. - As soon as the warning signal will be given, the train’s hooter
will automatically start when it comes near an unmanned crossing.
Nod for new Bureau of
Indian Standards Bill
Indian Standards Bill
- The Union Cabinet on Wednesday approved the introduction of
a new Bureau of Indian Standards Bill, 2015. - The new Bill will provide the legislative framework to
establish the BIS as the National Standards Body of India. - According to an official statement, provisions of the new
Bill will allow the Bureau of Indian Standards to perform its functions through
a governing council which would include a President and other members. - It would enable the Government to bring under the mandatory
certification regime articles, processes or services which it considers
necessary from a point of view of health, safety, environment, prevention of
deceptive practices, security and others. - The law also seeks to provide simplified conformity
assessment schemes including Self Declaration of Conformity as long as manufacturers
adhere to standards. - The Central Government will have the right to appoint any
authority in addition to BIS to verify the conformity of products and services
to a standard and issue certificate of conformity.
Cabinet approves
stepping up target under solar mission to 1 lakh MW
stepping up target under solar mission to 1 lakh MW
- Cabinet has approved stepping up cumulative target under
National Solar Mission from 20,000 MW to 1 lakh MW by 2022. - It has also approved interest subsidy on housing loans for
tenure up to 15 years under EWS/ LIG categories. - Cabinet has approved introduction of a new Bureau of Indian
Standards Bill, 2015, that will replace the existing BIS Act of 1986.
Election Commission
of India (ECI) suspended recognition of National People’s Party (NPP)
of India (ECI) suspended recognition of National People’s Party (NPP)
- The Election Commission of India (ECI) on 16 June 2015
suspended the recognition of National People’s Party (NPP) as a state party in
Meghalaya. The NPP is headed by former Lok Sabha Speaker PA Sangma. - The decision was taken in lieu of its failure in filing the
election expenditure statement related to 2014 Lok Sabha general elections
within the prescribed limit of 90 days. - The ECI took this decision under the powers vested in it as
per the 16A of the Election Symbols (Reservation and Allotment) Order, 1968. It
states that the commission can suspend or withdraw recognition of a recognised
political party, either national or state, for its failure to observe Model
Code of Conduct or follow lawful directions and instructions of the commission.
Prime Minister
launches ‘Narendra Modi Mobile App’
launches ‘Narendra Modi Mobile App’
- Stepping up his digital presence, Prime Minister Narendra
Modi on Wednesday launched the ‘Narendra Modi Mobile App’ to provide instant
updates and an opportunity to receive messages and emails directly from him. - The Android-based application is also aimed at giving a
chance to people to interact with him and share ideas and suggestions. - “Launched ‘Narendra Modi Mobile App’ Come, lets stay
connected on the mobile! The Mobile App has several innovative features. You
can download it from Play Store. Feedback is welcome,” Mr. Modi tweeted.
Appointments
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Beno Zephine became
first 100% blind officer in IFS
first 100% blind officer in IFS
- Chennai’s NL Beno Zephine on 12 June 2015 became the first
100 percent visually-challenged person to be inducted into the Indian Foreign
Services (IFS). - The 25-year-old, Beno was informed about her induction into
the Indian Foreign Services by the External Affairs Ministry. - At the time of being named as IFS officer, Beno was serving
the State Bank of India as a probationary officer. She is a postgraduate in
English from Madras University. - Beno cleared her civil service examinations conducted in
2013. While preparing for the exam, she took help of software named Job Access
with Speech (JAWS), which was a replacement of Brialle. The software allows
visually challenged to read from a computer screen, and can scan Tamil and
English books.
Archana Ramasundaram
out of CBI, appointed Director of NCRB
out of CBI, appointed Director of NCRB
- Senior IPS officer Archana Ramasundaram has been moved out
of the CBI and appointed as Director, National Crime Records Bureau (NCRB). - Ramasundaram, a 1980 batch Indian Police Service (IPS)
officer of Tamil Nadu cadre, was appointed as Additional Director in CBI in
February last year amid controversy.She was not assigned any work on the
direction of the Supreme Court, which is hearing a writ petition against her
appointment. - The Appointments Committee of Cabinet (ACC) has approved
lateral shift of Ramasundaram from the post of Additional Director, CBI to hold
Director General or equivalent level post at the Centre; and premature
curtailment of her tenure in the CBI, an order issued by Department of
Personnel and Training said.
Sports
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AIBA constituted
Ad-hoc committee chaired by Kishan Narsi for boxing in India
Ad-hoc committee chaired by Kishan Narsi for boxing in India
- The International Boxing Association (AIBA) on 16 June 2015
constituted a five-member ad-hoc committee to manage the process of finding a
group to organise and run boxing in India. - Kishan Narsi, an international referee who officiated in
four Olympics was appointed as the Chairman of the committee. He has been the
Vice-Chairman of Executive Committee of AIBA. - Other members of the committee include Jay Kowli, Manisha
Malhotra and Injeti Srinivas. The fifth member of the committee will be
appointed by AIBA on the recommendation of the ad hoc committee and would be a
national coach.
Books
& Authors –
& Authors –
Book titled Recasting
India written by Hindol Sengupta released
India written by Hindol Sengupta released
- The book Recasting India: How Entrepreneurship is changing
the world’s Largest Democracy written by Hindol Sengupta was in news in June
2015. - In the book the author explains emergence of new class of
entrepreneurs in India, in recent times, especially from geographically and
socially disadvantage spaces.
Obituaries
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India’s ‘Greatest
Architect,’ Charles Correa, Dies
Architect,’ Charles Correa, Dies
- For more than half a century, Indian architect Charles
Correa championed modern architecture, planning cities and designing nearly 100
buildings in the country, from luxury condominiums to housing for the poor. - Mr. Correa died Tuesday night in Mumbai, according to his
son-in-law Rahul Mehrotra. He was 84 years old. - Among those who offered condolences was Indian Prime
Minister Narendra Modi. - Dubbed “India’s Greatest Architect” by the Royal Institute
of British Architects in 2013, Mr. Correa worked on the master plan for Navi
Mumbai, a satellite town of the western Indian city of Mumbai, in the 1960s.
The town spread across an area of almost 133 square miles. - He was also involved in several low-income housing projects,
like one in Belapur in Navi Mumbai, where he aimed to bring individual identities
to tightly-packed housing units and, at the same time, ensure equity between
the houses.
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This post was last modified on July 20, 2019 10:17 am