CCEA approves procedure and mechanism for Strategic Disinvestment
- In the investment of the country that has been getting with the Cabinet Committee on Economic Affairs (CCEA) has been giving the approval of the cabinet for the country’s economy of the establishment.
- For the year 2017-18, the Centre’s disinvestment target has been raised at ₹72,500 crore, that was of the ₹42,500 crore is envisaged from minority stake sale and exchange traded funds. At this year’s fiscal, the Centre has raised ₹9,300 crore.
- “Without the alternative mechanism, we would have to go to the CCEA at each stage for clearance during the process of selling stake in a CPSE. Now we will approach the CCEA for clearance only after a buyer is finalized under the new mechanism. This will speed up the process of strategic disinvestment,” a finance ministry official said on condition of anonymity.
- Prithvi Haldea, chairman and managing director of Prime Database said, “While the government may decide the value of the CPSE looking at its past and present performance, once the company starts performing well in the hands of the private owner, people start accusing the government of underpricing national assets. To overcome this vicious cycle, government should opt for competitive bidding in the most transparent manner so that allegations of favoritism could be avoided,” he said.
- Formation- 1 April 1994
- Type- Non-departmental public body (NDPB)
- Headquarters- Belfast, Northern Ireland
- Location – 29 Clarendon Road
- Clarendon Dock- Belfast BT1 3BG
- Region served- Northern Ireland, England and Wales
GST relief for industrial units in Himalayan, NE region till 2027
- There are about the 4,284 industrial companies in the North East and Himalayan States will get GST off in the form of refund of Central share of CGST and iGST.
- The Cabinet Committee on Economic Affairs (CCEA) on Wednesday has been given the statement for the some of the GST assests that is the refund the Central share of Central GST (CGST) and integrated GST (iGST) to these units has been getting the big impact of the loss because of the goods and services tax (GST) and scrapping of excise laws from July 1 this year.
- “Upon repeal of the Central excise duty laws, the government has decided to refund the Central share of CGST and iGST to the affected industrial units for the residual period in the States of North Eastern region and Himalayan States,” Jaitley said.
- “These are matters that have a significant bearing on their profitability and market share and, hence, such units would be expecting a comprehensive declaration of the policies governing exemptions – both Centre and State. It is now expected that the few States that have granted VAT exemption would also announce the manner and methodology for refund of the SGST component of the GST paid” MS Mani, Partner-GST, Deloitte in India, said.
- The Himalayas, or Himalaya, form a mountain range in Asia separating the plains of the Indian subcontinent from the Tibetan Plateau
- The Himalayan range has many of the Earth’s highest peaks, including the highest, Mount Everest
- State/Province: Asia
- Highest point: Mount Everest
- Passes: Rohtang Pass, Khardung La, Nathu La, Bara-lacha la
World Bank pledges $24.64 mn to enhance India’s forest ecosystem
- The Finance Ministry and the World Bank on Wednesday has been signed the MoU of the revenue of the $24.64 million from the Global Environment Facility (GEF) of the World Bank for ecosystem service improvement project, it is told by the officials of the India.
- “The objective of the Project is to strengthen the institutional capacity of the departments of forestry and community organisations to enhance forest ecosystem services and improve the livelihoods of forest dependent communities in central Indian highlands,” a release said.
- “The Ministry of Environment, Forest and Climate Change will implement the project in the states of Chhattisgarh and Madhya Pradesh through Indian Council of Forestry Research and Education under the National Mission for Green India,” the release said.
- This MoU of the agreement has been signed by Department of Economic Affairs Joint Secretary Sameer Khare and World Bank’s Acting Country Director for India, Hisham Abdo Kahin.
- The World Bank is an international financial institution that provides loans to countries of the world for capital programs
- Headquarters: Washington, D.C., United States
- Founded: 1944
- Subsidiaries: International Finance Corporation,
- Parent organization: United Nations
- Founders: John Maynard Keynes, Harry Dexter White
Petrol pumps to sell LED bulbs, tube lights, ceiling fans soon
- The energy appliances company has been in the term of the for the fulfillment of the energy has been giving the facility to the Public Sector Oil Marketing Companies (OMCs). Now the customer can buy the one of the LED Bulb at ₹70, a 220W LED tubelight at ₹220 and a 5-star Ceiling Fan at ₹1,200.
- In the event of the company at where the agreement has been signed between the oil companies and Energy Efficiency Services Ltd was signed, Dharmendra Pradhan, Minister of State (Independent Charge) for Petroleum and Natural Gas, said, “An eco-system is being developed to enhance the non-fuel retail business of fuel retail outlets.”
- In that event the, Piyush Goyal, Minister of State for Coal, Power, New and Renewable Energy and Mines, said, “The country will save over ₹40,000 crore from energy efficiency measures.”
- In the official statement at there the event of the petroleum retail outlets in a phased manner. In the first phase, distribution will commence from Uttar Pradesh and Maharashtra.
Emma Stone named as 2017’s highest-paid female actor
- The La La Land actress that is of the Hollywood the 28 year old actress, Emma Stone has been comes at the place of highest paid actress with the banking $26 million pretax in the 12 month scoring period.
- “I moved here when I was 15 to start auditioning, I knew what it felt like to go on audition after audition,” Stone said at the backstage after she received the Academy Award, speaking of the similarities between the role and her life.
- “Every kid who grew up on Harry Potter felt instantly comfortable seeing Emma Watson on screen; even if she wasn’t Hermione Granger, she was Belle,” said Paul Dergarabedian, senior media analyst at industry tracker ComScore. “Disney could have plugged in any actor into that role but it wouldn’t have had that magic.”
- “We’ve had moments like this, where women really showcase themselves and break glass ceilings,” Theron told in the media. “And then we don’t sustain it. Or there’s one movie that doesn’t do well, and all of a sudden, no one wants to make a female-driven film.”
The United States named Pakistan-based Hizbul Mujahideen (HM) as a Foreign Terrorist Organisation
- The United States on Wednesday has given the name to the Pakistan-based Hizbul Mujahideen (HM) as a Foreign Terrorist Organisation and a Specially Designated Global Terrorist group, this was given before the 50 days, as after the chief Syed Salahuddin to its list of designated global terrorists.
- “Today’s action notifies the US public and the international community that HM is a terrorist organisation,” the US state department said in a statement, adding such designations expose and isolate terrorist groups and individuals, and “assist the law enforcement activities of US agencies and other governments”.
- “New Delhi had actively pursued the case of Hizbul Mujahideen with the US authorities for some time. The home ministry forwarded documents collected from security agencies and Kashmir Police on the activities of the Hizbul Mujahideen. These documents and proofs were used appropriately. Officials were also in touch with the US authorities dealing with the matter,” a source said.
- The US has given the name to the group of 71-year-old leader Salahuddin alias Mohammad Yusuf Shah like the Specially Designated Global Terrorist on June 26, just hours before Prime Minister Narendra Modi met President Donald Trump at the White House.
- The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the northwest and Hawaii extending the nation’s presence into the Pacific Ocean
- Major Atlantic Coast cities are New York, a global finance and culture center, and capital Washington, DC.
- Midwestern metropolis Chicago is known for influential architecture and on the west coast, Los Angeles’ Hollywood is famed for filmmaking
- Capital: Washington, D.C.
- Dialing code: +1
- President: Donald Trump
Sohail Mahmood took charge as Pakistan’s new High Commissioner to India
- Pakistan’s High Commissioner- designate Sohail Mahmood on Wednesday has been reached India and he will took the charge in the High Commission in the national capital.
- “He has taken charge at the High Commission here. He arrived in Delhi early morning,” an official spokesperson of the High Commission said.
- Mahmood, has joined the foreign services in the year 1985, in the starting he was posted in the Turkey as Ambassador of Pakistan. After that he replaced the Abdul Basit, a career diplomat, after his premature retirement earlier this month.
- After the take of the mind the position of him at the Ankara, Mahmood was Additional Secretary in the Ministry of Foreign Affairs, Islamabad, where he earlier served as Director General (2005-2009), Director (1995-1998) and Section Officer (1986-1991). He was born in 1962 and has done Masters in History and International Relations.
- Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia and on junction of West Asia, Central Asia and East Asia
- It is the sixth-most populous country with a population exceeding 201 million people
- Capital: Islamabad
- Currency: Pakistani rupee
- Population: 193.2 million (2016) World Bank
- President: Mamnoon Hussain
- Prime minister: Shahid Khaqan Abbasi
BANKING & FINANCE
Aadhar must for subsidised farm loans: RBI
- Reserve Bank of India (RBI) on Wednesday has announced that the framers have to necessary to link Aadhaar numbers to their accounts for the insure of the subsidised farm loan.
- “To ensure hassle-free benefits to farmers under the Interest Subvention Scheme, the banks are advised to make Aadhaar linkage mandatory for availing of short-term crop loans in 2017-18,” the RBI said.
- “This also implies that the farmers paying promptly as above would get short-term crop loans at 4 per cent per annum during 2017-18,” it said.
- The RBI has also reinitiated the loan of the interest subvention (subsidy by government) of 2% for the first year on loans that have the many of the susidaries.
- The Reserve Bank of India is India’s central banking institution, which controls the monetary policy of the Indian rupee
- Address: Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai, Maharashtra 400001
- Interest on reserves: 4.00%(market determined)
- Governor: Urjit Patel
SBI holds home loan utsav in Bengaluru
- State Bank of India has been successfully initiated the meeting of the Home Loan Utsav at its local head office in Bengaluru. The loan Utsav has been seems the title of the sponsor of the GM Infinite. Subtitle sponsors — Brigade Group, Salarpuria Sattva and DSR Infra.
- Talking about the initiative, Farooque Shahab, CGM, Bengaluru Circle said “SBI has always brought a positive change in the banking industry, we feel this is the right time to hold our Utsav, which is surely has created a much needed boost to the real estate industry.”
- State Bank of India is an Indian multinational, public sector banking and financial services company
- It is a government-owned corporation with its headquarters in Mumbai, Maharashtra
- Headquarters: Mumbai
- Founded: 1 July 1955
- Owner: Government of India (57.97)
- Capital ratio: 13.12% (2016)
- Subsidiaries: SBI Cards, State Bank of Hyderabad,
NSE to introduce seamless corporate announcement filing mechanism
- NSE has decided to launch the seamless corporate announcement filing mechanism for information that will be for the change in auditors, change in directors, and declaration of audit reports with unmodified opinion that will be from today.
- In the announcement there is the some of the listed of the fields that has been created by the NSE website without the exchange’s intervention. This will help in the development of the corporate announcements to investors without loss of time.
- “Under this seamless system, the information will get disseminated as has been filed by listed entity. Listed entity shall exercise due care while filing the announcement and shall be solely answerable for the announcement,” NSE said in a notice recently.
- “This system will be in effect from August 17, 2017,” it added.
- The National Stock Exchange of India Limited is the leading stock exchange of India, located in Mumbai
- The NSE was established in 1992 as the first demutualized electronic exchange in the country
- CEO: J. Ravichandran (2 Dec 2016–)
- of listings: 1,696
- Currency: Indian rupee (₹)
- Customer service: 1800 22 0051
- Headquarters: Mumbai
Science and Technology
NPPA caps prices of orthopedic knee implants
- Knee replacement surgeries has been getting cheaper in sometimes in the Indian drug price regulator the National Pharmaceutical Pricing Authority (NPPA) capping the prices of ortho knee implants citing public interest.
- “Under present extraordinary circumstances of a failed and exploitative market because of information asymmetry between the patient and healthcare delivery system, (NPPA) has decided that it is necessary to control the excessive trade margins for fixing ceiling price of orthopedic knee implants which is fair and reasonable based on its intrinsic value of the implants with rational margins to protect public interest,” said NPPA in its notification issued under its chairman Bhupendra Singh.
- “It is noticed that orthopedic-knee implants are having unjustified, unreasonable and irrational high trade margins leading to their exorbitant prices which affects the out of pocket expenses of patients and lakhs of patients are not able to pay for arthroplasty procedures because of these exorbitant prices and suffering in pain,” NPPA added.
- “Osteoarthritis is likely to become fourth leading cause of disability by year 2020’ as per the W.H.O and India is likely to be one of the leading countries of such immobilized citizens in terms of numbers; and whereas preventing such a scenario is essential in individual as well as national interest,” NPPA noted.
AWARDS & RECOGNITION
Indian-born Stanford professor receives Marconi Lifetime Achievement Award
- The US-based Marconi Society has said about its, Lifetime Achievement Award to Indian-born Stanford University professor Thomas Kailath, for his great research in the modern communications.
- “Kailath is the sixth scientist to be honoured with our Lifetime Achievement Award for his research contributions, which advanced modern communications technologies over the last six decades,” the Society said in an e-mail to IANS on Sunday night.
- “The award is being conferred on Kailath for mentoring a generation of research scholars and writing a classic textbook in linear systems that changed the way the subject is taught and his special purpose architecture to implement the signal processing algorithms on VLSI (Very Large-sale System Integration) chips,” the Society said in the e-mail.
- “The Marconi Award is humbling and moving, as it puts me alongside Shannon, who laid the foundation for our digital age and was one of my teachers at the Massachusetts Institute of Technology (MIT), though I do not consider being at his level,” Kailath told in the report.
- Stanford University is a private research university in Stanford, California, adjacent to Palo Alto and between San Jose and San Francisco
- Stanford’s undergraduate program is the most selective in America
- Undergraduate tuition and fees: 48,987 USD (2017)
- Sports: 37 varsity sports teams; (15 men’s, 20 women’s, 2 coed)
- Phone: +1 650-723-2300
- Typical SAT scores: 690-790 (2014), 700-790 (2014), 680-780 (2014)
- Founders: Leland Stanford, Jane Stanford
Former Advocate General of Kerala MK Damodaran passes away
- Former Kerala advocate general M K Damodaran has been passed away because of the high illness in the Kochi at the age of 77 years in the private hospital at where his treatment was going.
- M K Damodaran was the Advocate General of Kerala during the tenure of EK Nayanar’s LDF Ministry.
- He has posted as the legal advisor of Kerala Chief Minister Pinarayi Vijayan in July, but he refused to take charge as a writ petition was filed in Kerala High Court challenging his appointment.
World Humanitarian Day
- World Humanitarian Day is the celebration of the day in the respect of the person who has lost his life for the humanitarian and the human life for the social and the saving of the life.
- This day was created by the United Nations General Assembly as the member of the Swedish-sponsored GA Resolution A/63/L.49 on the Strengthening of the Coordination of Emergency Assistance of the United Nations, and has been established on the 19 August.
- It the day of the remembrance that then Special Representative of the Secretary-General to Iraq, Sérgio Vieira de Mello and 21 of his colleagues has been died by killing and throwing the bombing of the UN Headquarters in Baghdad.