Daily Current Affairs 26th October, 2016

Daily Current Affairs 26th October, 2016

India ranks 130 in ease of doing business: World Bank report

  • According to the World Bank’s Ease of doing Business Report 2017:Equal Opportunity for all, India now ranks 130 out of 190 countries.
  • New Zealand has surpassed Singapore to become the easiest country in the world to do business.
  • The World Bank is an international financial institution that provides loans to developing countries for capital programs.
  • Russia, Bhutan, South Africa, China, Nepal, Sri Lanka and Brazil ranked higher than India.
  • New Zealand replaced Singapore as the easiest place for doing business.

About the report

  • Doing Business measures regulations affecting 11 areas of the life of a business.
  • Ten of these areas are included in this year’s ranking on the ease of doing business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
  • Doing Business also measures labour market regulation, which is not included in this year’s ranking.

Analysis of India`s performance.

  • While the government’s focus on improving India’s ranking and an overhaul of the Companies Act came in for praise in the report, labour laws were flagged for creating economic distortions even as IFC took note of the plan to overhaul the regime.
  • India’s overall score improved marginally to 55.27 as it climbed up the rankings for providing electricity connections, enforcing contracts through commercial divisions in Bombay and Delhi high courts, easier rules for trading across borders and making Employee’s Social Insurance Corporation’s payments.

Note– Improving India’s ranking in the ease of doing business survey has been identified as a key priority by the Modi government. The government is keen to improve attractiveness as an investment destination and has undertaken several measures to make it easier to do business in the country.

India up 21 places in WEF gender gap report: WEF

India has climbed 21 spots to rank 87th on the World Economic Forum’s Global Gender Gap Report 2016.

With this jump in ranking, India has now overtaken China which is ranked 99th out of 144 countries.  Iceland tops the latest rankings followed by Finland, Norway and Sweden.

About the report

  • Through the Global Gender Gap Report, the World Economic Forum quantifies the magnitude of gender disparities and tracks their progress over time, with a specific focus on the relative gaps between women and men across four key areas: health, education, economy and politics.
  • Neighbour Pakistan, meanwhile, remains at the second last position, at rank 143 out of 144 countries.
  • Last year, the index placed it at 144 in a list of 145 countries. Both years, Pakistan was ahead only of Yemen.
  • Among immediate neighbours, Bangladesh took the top position at 72nd rank— ahead of India. Sri Lanka stands at 100, Nepal at 110, the Maldives at 115 and Bhutan at 121.
  • However, when it comes to women’s health, India is the third last,and as per the report, due to the situation in India and China, this gap is wider than it was in 2006.
  • India ranks 142nd in terms of ‘health and survival’ of women, while China is at the 144th spot.
  • In the South Asia region, India is ranked second in terms of gender parity, next only to Bangladesh.
  • The situation is not good In terms of economic participation of women, with India ranking 136th, ninth from bottom. The countries with lower ranking than India in this category include Iran, Yemen, Saudi Arabia and Pakistan.
  • Slightly better in the field of women’s education, India is at the 113th position, while in political participation of women it stands at the 9th rank.

Note–   More than a decade of data has revealed that progress is still too slow for realizing the full potential of one half of humanity within our lifetimes.

Beatty becomes first US author to win Man Booker prize for 2016

  • Paul Beatty became the first author from the United States (US) to be awarded the Man Booker prize, for his book, ‘The Sellout’.
  • The Man Booker International Prize was established in 2005, biennially rewarding an author for a body of work originally written in any language as long as it was widely available in English.

About the award

  • Awarded for -Best book in English translation
  • Country -United Kingdom
  • Presented by -Man Group
  • Reward(s) -£50,000
  • First awarded -2005

India, New Zealand Sign Three Agreements

  • India and New Zealand today signed three agreements in the areas of double taxation avoidance, food security and sports to carry forward the ties between both sides.
  • The agreements were signed in the presence of Prime Minister Narendra Modi and his New Zealand counterpart John Key after the delegation-level talks.

About New Zealand

  • Capital -Wellington
  • Largest city -Auckland
  • Official languages -English
  • Māori
  • NZ Sign Language
  • Currency -New Zealand dollar

International Hockey Federation appoints Jason McCracken as new CEO

  • The International Hockey Federation has appointed New Zealand’s Jason McCracken as its Chief Executive Officer.
  • McCracken will be leaving his role as Head of Insurance and Investment Risk at banking group ANZ to take on his new post at FIH’s headquarters in Lausanne, Switzerland.
  • He will replace Kelly Fairweather

Legendary football Carlos Alberto Torres dies at Rio de Janeiro, Brazil

  • Carlos was known for scoring one of the greatest goals in World Cup history in 1970 final against Italy.

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