Monday, 28 December 2015

IBPS Daily Current Affairs December 28 (Monday), 2015

Petroleum products not to be brought under GST: CEA

  • Petrol and other petroleum products would not be brought under the GST regime for some time after its roll out, Chief Economic Advisor Arvind Subramaniam.
  • “Constitutionally petrol and other petroleum products will be within the GST system. But it would be out of the GST dispensation after its implementation for some time,”.
  • He said that the GST council would decide for how long these products would be out of the new taxation regime.

Modi winds up Mann ki Baat for 2015 with ‘Start Up India’ plan

  • Prime Minister Narendra Modi’s last ‘Mann ki Baat’ radio broadcast for the year 2015 was far less dramatic than his latest diplomatic flourish of dropping in to see Pakistan Prime Minister Nawaz Sharif in Lahore.
  • Mr. Modi announced Jan. 16 as the date for the launch of his programme to encourage new business, ‘Start Up India, Stand Up India.’

India may be third largest economy after 2030: UK think tank

  • India could become the world’s third largest economy after 2030 and its ascension could see France and Italy kicked out of the exclusive G8 group or its membership increased to 10 to accommodate India and Brazil, according to a new study.
  • According to a report by the UK think tank Centre for Economics Business and Research (CEBR), China will overtake the US as the largest economy in the world in 2029 with the US slipping to second place and India close behind at third.
  • India’s projected GDP in 2030 was $10,133 billion, behind America’s $32,996 billion and China at the top with a projected GDP of $34,338 billion.

Road projects worth Rs 50,000 crore to be offered under PPP in FY17

  • The road transport and highways ministry has lined up projects worth Rs 50,000 crore to be awarded under public-private partnership mode in 2016-17. This will be the largest chunk of highways projects to be awarded by the ministry under the PPP mode in a single financial year.
  • The ministry plans to award close to 5,000 km to private companies during the next fiscal.

Male partner pregnant with baby of transgender couple in Ecuador

  • A couple in Ecuador is making history with a unique pregnancy: The father-to-be is carrying the baby of his transgender partner.
  • Fernando Machado and Diane Rodríguez announced their pregnancy, believed to be the first of its kind in South America, on social media earlier this month and it’s received widespread attention in a continent that has seen a sudden explosion in the rights and visibility of trans people.

China approves controversial antiterrorism law

  • China’s parliament has passed a controversial counter terrorism law, sweeping aside earlier criticism of some of its provisions by western governments and business lobbies.
  • The official Xinhua news agency reported that the law had been passed unanimously by the Standing Committee of the National People’s Congress, saying it was intended to “address terrorism at home and help maintain global world security”. A final draft of the law was not immediately available.

Floods in Britain prompt emergency government talks

  • Britain’s government was holding emergency talks as flooding in northern England forced hundreds of people to leave their homes, including in the historic tourist destination of York.
  • Prime Minister David Cameron will chair a call of the COBRA emergency committee as the floods cause chaos for families during the Christmas holiday season.
  • Hundreds of flood warnings are in place around the country, with 31 of them severe, signalling a risk to life.

Washington likely venue for the next Modi-Sharif meet

  • As India and Pakistan enhance their engagement over the next weeks, after the abrupt turnaround in relations, the U.S capital will likely be the venue for the next meeting between Prime Ministers Narendra Modi and Nawaz Sharif.
  • President Barack Obama has invited both prime ministers for the Nuclear Security Summit on March 31 and April 1, 2016.Nuclear security remains a lingering concern for the U.S. policy for South Asia particularly.
  • The summit will be the first occasion in 2016 that will bring Indian and Pakistan PMs together. Official level talks between the countries are scheduled to start in mid-January, 2016.

RP-Sanjeev Goenka Group to name Chief Executive for sports business

  • The RP-Sanjiv Goenka Group, which acquired the franchise-rights of Pune cricket team earlier this month, will soon appoint a CEO for spearheading its sports business.
  • The appointment is aimed at leveraging sports to promote the company’s brands nationally and internationally, said Sanjiv Goenka, Chairman of the group.

Record highs predicted for bitcoin in 2016 as new supply halves

  • 2016 could prove to be the year that the price of bitcoin surges again. Not because of any dark-web drug dealing or Russian ponzi scheme, but for an altogether less sensational reason slower growth in the money supply.
  • Bitcoin is a web-based ‘cryptocurrency’ used to move money around quickly and anonymously with no need for a central authority. But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.

CAD may be less than $25 bn: Barclays

  • India’s current account deficit (CAD) remains in check and is expected to be lesser than $25 billion this fiscal.
  • According to financial services major Barclays, though the underlying growth in the country is improving, it is unlikely to put significant pressure on the current account.
  • India’s CAD narrowed to 1.6 per cent of GDP at $8.2 billion in the second quarter ended September.

TRAI aims to resolve net neutrality issues by early 2016

  • As the debate over the net neutrality resurfaces, telecom regulator TRAI has said it is looking to solve the issues “part-by-part” and also aiming to come up with the final guidelines based on the views received from different stakeholders, by early 2016.
  • A debate on net neutrality stirred across the country after Airtel decided to charge separately for internet-based calls but withdrew it later after people protested. Internet activists and experts flayed the operator for ‘Airtel Zero’ service along with Facebook’s service, currently renamed ‘Free Basics.’

A glitzy launch for RJio’s 4G services

  • Reliance Jio kick-started its much-awaited 4G mobile services at a gala event attended by nearly 35,000 Reliance Group employees and their families. Another 80,000 were tuned in to the event via video links from 1,000-plus locations across the country.

Microsoft CEO Satya Nadella keeps India toura low-key affair, to visit T-Hub tomorrow

  • Microsoft chief executive Satya Nadella is on his annual vacation to India, and is likely to be in Hyderabad. Nadella, who is understood to be here for a personal trip, is expected to meet Andhra Pradesh chief minister N Chandrababu Naidu, as well as visit the campus of startup incubator T-hub and the Microsoft development centre in Hyderabad.
  • T-Hub is an initiative of the Telangana government.

Reliance, AlmazAntey to jointly develop air defence missile system

  • Reliance Defence Limited and Russian AlmazAntey, have decided to work jointly on the entire range of AD Missile and Radar Systems that are required for Indian defence forces.
  • The development comes alongside Prime Minister Narendra Modi’s ongoing visit to Moscow. The Indian defence ministry had last week cleared the proposal to buy five units of the S- 400 Triumph air defence missile at about Rs 30,000 crore.

Shiva Keshavan wins silver

  • Shiva Keshavan claimed a silver in the 18th edition of the Asian luge championship.
  • The race consisted of two heats closely contested by the Asian athletes. Though in the first heat Shiva was a mere 2/10th of a second behind, minor technical snags cost him the gold medal in the second heat. The first place went to Japan’s Hidenari Kanayama, and third to Korea’s Dong Hyeon Kim.

Guptill guides New Zealand win over Sri Lanka

  • Martin Guptill became the highest run scorer in one-day international cricket this year as he guided New Zealand to a comprehensive seven-wicket victory over Sri Lanka in the first game of their five match series.
  • Guptill, who scored 237 not out in the World Cup quarter-final against West Indies in March and was the highest run-scorer at the tournament, was dismissed for 79 within sight of the 189 needed for victory at Hagley Oval in Christchurch.

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