Govt clears strategic sale of Central Electronics
1. The incorporation company that was in the year 1974, CEL which was in the administration of Ministry of Science and Technology. The CPSE has been totally owned by the government and has the net profit of the of Rs 50.34 crore as on March 2017.
⦁ In this owned of the entity has been organised with the some of the CEL and will prepare and submit a detailed operational scheme to implement the strategic disinvestment process, indicating tentative timelines for each activity.
⦁ “The Government of India (GoI) has ‘in-principle’ decided to disinvest its 100 per cent equity in Central Electronics Ltd through strategic sale with transfer of management control,” Department of Investment and Public Asset Management (DIPAM) said a bid document.
⦁ “Bidders should have advised, handled and successfully completed at least one transaction of strategic disinvestment or strategic sale or merger & acquisition or private equity investment transaction of the size of Rs 50 crore or more during the April, 2014 to March, 2017,” the document said
⦁ The Ministry of Science and Technology is the Indian government ministry charged with formulation and administration of the rules and regulations and laws relating to science and technology in India
⦁ Formed: May 1971
⦁ Jurisdiction: India⦁ Headquarters: New Delhi
⦁ Cabinet minister: Harsh Vardhan⦁ Minister of state: Y. S. Chowdary
⦁ Programs: Kishore Vaigyanik Protsahan Yojana, INSPIRE Programme
⦁ Departments: Department of Science and Technology,
Don’t criminalise marital rape, may disturb institution of marriage: Government
⦁ By the continuous rain in the Mumbai have causes the problem for the roads and the trains in the many of the areas of the city and the local areas. Local trains that are runs in the Western railways and the central railways has been stopped and many of the flights has been delayed.
⦁ “may destabilise the institution of marriage apart from being an easy tool for harassing the husbands”. “As to what constitutes marital rape and what would constitute marital non-rape needs to be defined precisely before a view on its criminalisation is taken,” states the Centre’s affidavit.
⦁ “The fact that other countries, mostly western, have criminalised marital rape does not necessarily mean India should also follow them blindly. This country has its own unique problems due to various factors like literacy, lack of financial empowerment of the majority of females, mindset of the society, vast diversity, poverty, etc., and these should be considered carefully before criminalising marital rape,” the center states.
⦁ Senior Advocate Colin Gonsalves, who is appearing in the case for one of the petitioners (a marital rape victim), pointed out that till date, 51 countries have criminalised marital rape, beginning with Poland in 1932. “By the seventies, much of the developed world had criminalised it. The United States did it between 1970 and 1993, South Africa in 1993, even Nepal criminalised it in 2006,”
First GST data in: 65 per cent pay Rs 92,000 crore
⦁ The center has given the statement that it has the collection of Rs 92,283 crore as Goods and Services Tax (GST) in July, this is the first month of the collection of the indirect tax regime. This amount is much higher than the expected that of the Rs 91,000 crore, Finance Minister Arun Jaitley said Tuesday.
⦁ Jaitley said to reporters “We have seen compliance of 64.42 per cent in July. 38.38 lakh people have filed returns out of 59.57 lakh registrants,”. Payments are trickling in even after August 25, he said. “When more compliances take place by the latecomers, the compliances will somewhat increase,” he said. “As far as central government is concerned, we fix an indirect tax target at the beginning of the year. We can work backwards by excluding the customs duty out of it, so three months we had the central excise and service tax and the balance amount has to come through GST…”
⦁ “So, if we equally divide the amount specified in Budget, one will get the per month anticipated figure… if you calculate the figure, the central government’s target is calculated on the Budget bifurcation principle that what should come into our kitty for July has to be Rs 48,000 crore and if you add to the states’ 2015-16 collection, and add 14 per cent twice over, the states should get Rs 43,000 crore. So the combined target of the two has to be Rs 91,000 crore… with 64.42 per cent we have already exceeded the target,” Jaitley said.
⦁ M S Mani, Senior Director, Deloitte Haskins & Sells LLP said, “The compliance of 64.42 per cent achieved in the first month should be viewed considering the fact that several forms required were released late and many clarifications were provided during the latter part of August. There would be several taxpayers who may now file the GST return on a delayed basis, paying a small delayed payment fee. It is expected that the return filing would significantly increase in the coming months,”
⦁ The Ministry of Finance is an important ministry within the Government of India concerned with the economy of India, serving as the Indian Treasury Department
⦁ Formed: 29 October 1946
⦁ Jurisdiction: Government of India
⦁ Headquarters: North Block, Cabinet Secretariat, Raisina Hill, New Delhi – 110 001⦁ Cabinet minister: Arun Jaitley
⦁ Minister of state: Santosh Gangwar, Arjun Ram Meghwal
⦁ Programs: Pradhan Mantri Jan Dhan Yojana,
Delhi HC no to order granting SCs, STs quota in promotion
⦁ The Delhi High Court has been introduced the Central notification by giving the permission of the grant of the Scheduled Castes (SCs) and Scheduled Tribes (STs) beyond the five-year period the Supreme Court had stipulated in the Indira Sawhney case.
⦁ The bench said: “Any reservation (as also consequential seniority) extended to SCs and STs, without, in the first instance, conducting the requisite exercise of garnering quantifiable data indicating inadequate representation, and juxtaposing, they’re against, the considerations of backwardness and overall efficiency of administration, would necessarily infract Articles 16 (1) (equality of opportunity in matters of employment) and 335 (dealing with claims of SCs and STs to services and posts) of the Constitution of India and, consequently, be liable to be quashed.”
⦁ It restrained the Centre and states “from granting any reservation, in promotion, to SCs or STs… without, in the first instance, carrying out the necessary preliminary exercise of acquiring quantifiable data indicating inadequacy of representation of the said categories in service and evaluating the situation by taking into consideration the said data, along with the competing considerations of backwardness and overall efficiency in administration, and arriving at an empirical decision on the basis there of”.
⦁ Article 16 (4A), which was introduced after the Indira Sawhney judgment, “enables the State to provide for reservation, in matters of promotion, which in favor of the Scheduled Castes and the Scheduled Tribes, which in the opinion of the State are not adequately represented in the services under the State”.
⦁ The High Court of Delhi was established on 31 October 1966. The High Court of Delhi was established with four judges
⦁ They were Chief Justice K. S. Hegde, Justice I. D. Dua, Justice H. R. Khanna and Justice S. K. Kapur
⦁ Address: Sher Shah Road, Near India Gate, New Delhi, Delhi 110503
⦁ Phone: 011 4301 0101
⦁ Established: 1966
⦁ No. of positions: 48 (29 permanent, 19 Additional)
North Korea fires missile over Japan on Tuesday
⦁ North Korea has launched the missile that has been launched has gone over the Japan was a prelude to more military operations directed at the American territory of Guam, North Korean state media warned Wednesday.
⦁ The North Korean launch was “the first step of the military operation of the (North Korean military) in the Pacific and a meaningful prelude to containing Guam,” state media said.
⦁ “We knew, based on North Korea events in previous years, that with the joint exercise between the US, South Korea, and its Allies, we can expect rhetoric and activity in North Korea,” said George Charfauros, Guam homeland security adviser.
⦁ “pressure on North Korea should be raised to its limit so that North Korea will voluntarily come to the table for dialogue,” South Korean presidential spokesman Park Su-hyun said in a statement Wednesday.
⦁ “Threatening and destabilising actions only increase the North Korean regime’s isolation in the region and among all nations of the world,” Trump said in a White House statement. “All options are on the table.”
⦁ North Korea, officially the Democratic People’s Republic of Korea, is a country in East Asia constituting the northern part of the Korean Peninsula. Pyongyang is the nation’s capital and largest city
⦁ Capital: Pyongyang
⦁ Supreme leader: Kim Jong-un
⦁ Premier: Pak Pong-ju
⦁ Currency: North Korean won
⦁ Points of interest: Paektu Mountain, Arch of Triumph, Juche Tower,
International Atomic Energy Agency opens atomic fuel reserve in Kazakhstan to ensure supply
⦁ The limited supply of the nuclear fuel by the disruption of the way and not to take of the fuel at the International Atomic Energy Agency’s Low Enriched Uranium Bank, which opens this week in Kazakhstan.
⦁ “In both cases, the fuel bank is a reassurance, when suppliers on the international markets manipulate prices or when LEU ceases to be supplied for political reasons, for example with sanctions,” explains Gartner.
⦁ According to the IAEA, the Ulba plant “is a nuclear facility with commercial scale operations and complete infrastructure to store, transport and process LEU safely.”
⦁ The $150 million of the budget has been created for the 10 years come from voluntary contributions. In this budget, there was the main contributor was the Warren Buffet ($50 million), the United States ($49 million) and the European Union (25 million euros.)
⦁ Kazakhstan, a Central Asian country and former Soviet republic, extends from the Caspian Sea in the west to the Altai Mountains at its eastern border with China and Russia
⦁ Its largest metropolis, Almaty, is a long-standing trading hub whose landmarks include Ascension Cathedral, a tsarist-era Russian Orthodox church, and the Central State Museum of Kazakhstan, displaying thousands of Kazakh artifacts
⦁ Capital: Astana⦁ Dialing code: +7
⦁ Currency: Kazakhstani tenge⦁ Official languages: Kazakh, Russian
Kenya passes world’s toughest plastic bag law
⦁ Kenyans has been announced the new law for the use of the plastic bag and that is the imprisonment of the four years and the fine of the $40,000 from Monday, as the world’s toughest law aimed at reducing plastic pollution came into effect.
⦁ Plastic bags, which El-Habr says it takes the some of the 500 to 1,000 years to break down, also enter the human food chain through fish and other animals. In Nairobi’s slaughterhouses, some cows destined for human consumption had 20 bags removed from their stomachs.
⦁ “If we continue like this, by 2050, we will have more plastic in the ocean than fish,” said Habib El-Habr, an expert on marine litter working with the U.N. Environment Programme in Kenya.
⦁ “This is something we didn’t get ten years ago but now its almost on a daily basis,” said county vet Mbuthi Kinyanjui as he watched men in bloodied white uniforms scoop sodden plastic bags from the stomachs of cow carcases.
⦁ Kenya is a country in East Africa with coastline on the Indian Ocean
⦁ It encompasses savannah, lakelands, the dramatic Great Rift Valley and mountain highlands
⦁ It’s also home to wildlife like lions, elephants and rhinos. From Nairobi, the capital, safaris visit the Maasai Mara Reserve, known for its annual wildebeest migrations, and Amboseli National Park, offering views of Tanzania’s 5,895m Mt. Kilimanjaro.
⦁ Capital: Nairobi
⦁ Dialing code: +254
⦁ Currency: Kenyan shilling
BANKING & FINANCEDIPP releases consolidated FDI policy
⦁ India has been introduced the new foreign direct investment policy framework and this for the first time comprises provisions specific to startups, a sector that is top on the government’s agenda.
⦁ “The present consolidation subsumes and supersedes all press notes/releases/clarifications/circulars issued by DIPP, which were in force as on August 27, 2017, and reflects the FDI Policy as on August 28, 2017,” the official notification stated.
⦁ “A start-up company engaged in a sector where foreign investment requires government approval may issue convertible notes to a non-resident only with approval of the government,” it added.
ICEX launches world’s first diamond futures contracts
⦁ The Anil Ambani Group-anchored Indian Commodity Exchange (ICEX) has become the world’s first derivatives exchange for the launch of the diamond futures contract on Monday.
⦁ “We successfully launched diamond futures trading today. The contracts are initially launched in size of 1 carat with compulsory delivery. This will create an entirely new market for the diamond players where sellers can deliver their certified diamonds to different buyers,” ICEX managing director Sanjit Prasad said.
⦁ Prasad said, “At ICEX our focus is to launch unique and innovative product contract which is economically relevant and important for the country and the stakeholders. Diamond is one of the largest foreign exchange earning industry for India. Annually India exports diamonds worth approximately $25 billion with value addition of approximately $7.2 billion. Hence diamond is very important and economically relevant to the country.”
⦁ He said, “Diamond price which is quoted and traded on exchange platform are of wholesale price rate. The rate of same quality diamonds are 25 to 30 per cent higher in retail market. Unlike retail market, the diamond purchased at ICEX is certified and further there is a lot more for the investor in diamond at ICEX. One carat of diamond costs around Rs 3.5 lakhs, which for the investor or buyer is big amount. But, in ICEX trading unit is one cent i.e. 1/100th of carat hence one could buy in staggered manner in smaller units of one cents and multiple either for investment or for physical delivery when accumulated units become 100 cents equivalent unit of 1 carat. As described in above points, value proposition for the retail buyers are huge at ICEX.”
Science and Technology
ISRO opens up satellite making to industry
⦁ The Indian Space Research Organisation has been facilitated the domestic event that will give the features to the 18 spacecraft a year starting mid to late 2018.
⦁ “Right now, the manpower of ISAC/ISRO is not adequate for meeting both the increased load of making more satellites; and also for the R&D that we need for future satellites. The present bid to outsource our AIT will help us re-deploy our human resources effectively and focus on R&D,” he said.
⦁ Dr. Annadurai said: “The outsourcing of assembly, integration and testing [AIT] in a way covers operational spacecraft, mostly repeat types that ISRO routinely requires.
Lewis Hamilton wins Belgian Grand Prix in F1 title race
- There has been start of the chose of the players that will go at the games that has been going to be start in this years and there is still the eight grands prix to go in the 2017 F1 championship race.
- Hamilton said, “In terms of rate of development we are as strong as anyone. But there’s a real balance of how much you apply to next year’s car. We don’t want to be the last one to start next year’s car. So I think that’s really where the race is: trying to figure out how much time you spend on continuing to develop this car to get the job done, and to then get the job done for next year. That’s a battle that Ferrari and us will be having mentally, and within the team. But I hope we have more to come, and we need more to come in order to win this thing, for sure.”
- “It’s going right down to the wire. And I think it can come down to reliability, it can come down to that shift in the pendulum, shifting just that millimetre of performance either way, and then down to us and consistency.” Hamilton said.
31st August 1956: The President gave his Assent to the States Reorganisation Bill
- On 31st August in the year 1956 the President of India has been given his assets to the States Reorganisation Bill, which is now known as the States Reorganisation Act.
- On 26th January in the year 1950, the constitution of India came into force, for the make of the India a sovereign democratic republic. The new republic also was to be a “Union of States” and the Constitution defined the three kinds of states.
- Part A States: Former governors’ provinces of British India, which were ruled by an elected governor and state legislature.
Part B States: Former princely states ruled by a Rajpramukh.
Part C States: Included both the former chief commissioners’ provinces and a few princely states.
Part D States: The Andaman and Nicobar Islands was the only Part D state which was administered by a lieutenant governor.
- On 31st August 1956 the States Reorganisation Act has been came in the force and on 1st November in that years it come in the act. Under this new amendment, the existing distinction among Part A, Part B, Part C and Part D states were done away with and they came to be known as the “states”, while the Part C and Part D states were replaced by a new entity of “Union Territory”.