Daily Current Affairs 17th January, 2017

Daily Current Affairs 17th January, 2017

 

INTERNATIONAL

Pakistan Navy Receives Two Ships From China to Ensure Security along Gwadar Port

  • China has sold two naval ships to Pakistan to protect the strategic Gwadar port and trade routes under the USD 46 billion China-Pakistan Economic Corridor.
  • The ships named Hingol and Basol gets its name from nearby rivers in Pakistan.China will provide two more ships to Pakistan Navy named Dasht and Zhob after two districts in Balochistan.

World Government Summit:

  • The fifth edition of the World Government Summit (WGS) will get underway soon in UAE as yet another initiative to generate ideas for global governance.
  • There will be 10 new developments in the upcoming edition, held under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, from February 12-14 in Dubai.
  • The leading global event will feature the first international gathering of experts on happiness under the title Global Dialogue for Happiness, as well as the Forum on Climate Change and Food Security, and an Arab Youth Forum.
  • The summit will continue its efforts to partner with various foreign governments and international organizations.

NATIONAL

The Ministry of Women & Child Development is planning to form a National Alliance against   Online Child Sexual Abuse and Exploitation.

  • Aim of the alliance: The alliance aims to develop a comprehensive outreach system to engage parents, schools, communities, NGO partners and local governments (PRIs and ULBs) as well as police and lawyers to ensure better implementation of the legal framework, policies, national strategies and standards in relation to child protection and child rights.

ECONOMY

India Signs Financing Agreement of $48 million with World Bank for Nagaland Health Project

  • India has signed a financing agreement with World Bank for 48 million dollars for Nagaland Health Project.
  • About six lakh people will directly benefit from the Health Project with improvements in higher-level facilities as well as system-wide investments.

IMF cuts India’s growth rate to 6.6{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} due to Demonetization

  • The International Monetary Fund (IMF) has cut India’s growth forecast for the current fiscal by one percentage point, citing demonetisation woes from 7.6{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} to 6.6{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769}.

 GST: Centre, States reach consensus over dual control, roll out likely from July 1

  • The Goods and Services Tax (GST) Council has arrived at a consensus on contentious issues such as administrative control over tax payers in the new indirect tax regime, thus paving the way for GST to be introduced this year, although three months after the Centre’s original rollout deadline of April 1, 2017.
  • The consensus was reached after the Centre agreed to the demand of states to go in for horizontal split with regard to tax payers based on annual turnover.
  • This division of tax administration had been holding up the finalisation GST tax laws, making it difficult for the government to stick with the April 1 deadline. The delay in expected to help trade and industry better prepare themselves.
  • Under the proposed tax regime, 90{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} of all assessees with a turnover of Rs 1.5 crore or less will be assessed for scrutiny and audit by state authorities, the remaining 10{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} by the Centre. Above that limit, Centre and states will assess in a 50:50 ratio.
  • The entire taxation base will be shared between the assessment machinery of the Centre and the states. Both will have intelligence based assessment powers.
  • The Centre has also given leeway to states on integrated GST (I-GST), which deals with inter-state sales. The power to levy and collect the I-GST lies with the central government but states will also be cross-empowered in the same ratio as above through a special provision in law. Any IGST disputes among states will be resolved by the Centre.
  • The Centre has also ceded ground on taxation rights over the sea. Territorial waters extending to 12 nautical miles fall under control of the union government but as per convention, states will be empowered to collect tax on any economic activity in this zone.

AWARDS

25 children including 13 girls selected for National Bravery Awards

  • Twenty-five children have been selected for the national bravery awards 2016. These include 13 girls. Four of the awards have been given posthumously.
  • The coveted Bharat award has been conferred on 8-year-old Late Kumari Tarh Peju of Arunachal Pradesh, who sacrificed her life while saving two of her friends from drowning.
  • The Sanjya Chopra award has been given to 15-year-old Sumit Mamgain of Uttarakhand who displayed outstanding bravery in fighting a leopard to save his cousin.
  • The prestigious Geeta Chopra award has been conferred on 18 year old Tejasweeta Pradhan and 17-year-old Shivani Gond of West Bengal who showed immense courage fearlessly helping police and NGO in uncovering an international sex racket leading to the arrest of the mastermind in Delhi.
  • The children will receive their awards from Prime Minister Narendra Modi on 23rd day of January. They will participate in the parade. President Pranab Mukherjee will host reception in their honor.

 

 

 

 

 

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