Daily Current Affairs 4th November, 2016

Daily Current Affairs 4th November, 2016

Paris climate agreement becomes international law

  • The Paris Agreement officially entered into force on 4 November 2016.
  • It is the first-ever deal binding all the world’s nations, rich and poor, to a commitment to cap global warming caused mainly from the burning of coal, oil and gas.
  • The Paris Agreement’s entry into force comes a month after countries representing 55{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} of the world’s emissions committed to joining the deal.
  • As of November 2016, 192 states and the European Union have signed the Agreement; 97 of those parties have ratified or acceded to the Agreement, most notably China, the United States and India.

About the agreement

  • Under the agreement, countries are required to take actions as per their pledges over an agreed period of time.
  • It has put in place a transparency mechanism through which countries would report on progress made towards meeting their pledges.
  • It also includes periodic stocktaking to equip the world with an assessment of the level of action needed to keep average global temperature rise within 2 degrees celsius by the end of this century from the pre-industrial level.

Minister of Railways inaugurates International Conference on Decarbonisation of Indian Railways in New Delhi

  • Minister of Railways Shri Suresh Prabhakar Prabhu has inaugurated the International Conference on Decarbonisation of Indian Railways – Mission Electrification in New Delhi on November 3, 2016.
  • It was organised by Institution of Railways Electrical Engineer (IREE) in partnership with ASSOCHAM India.
  • Energy demand of Indian Railways is expected to triple by 2030 from current levels to 49 billion units of electricity. Decarbonising the Railways will help achieve the commitment made by India under Paris agreement to reduce its Green House Gas emissions by 33-35{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} by 2030 from the 2005 levels.
  • The Conference aims at bringing various stakeholders on a common platform for exchange of ideas and to deliberate on implementable technological solutions and financing options to significantly increase pace of electrification and achieve the target for setting up of renewable energy installations with total capacity of 1000 MW by 2020.

GST Council approves 4-tier rate at 5{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769},12{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769}, 18{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} and 28{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769}

  • GST Council approved a four-tier GST tax structure of 5{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769}, 12{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769}, 18{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769} and 28{be19e8fcc7081f751eba9e03bd22e904e5cf3e86733381e655a03b1ab7839769}, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.
  • Ultra luxuries, demerit and sin goods, will attract a cess for a period of five years on top of the 28 per cent GST.
  • On nearly half of the consumer inflation basket, including food grains, the GST will be at 0 per cent,
  • Goods and Services Tax is a proposed system of indirect taxation in India merging most of the existing taxes into single system of taxation.
  • The GST will subsume the multitude of cesses currently in place, including the Swachh Bharat Cess, the Krishi Kalyan Cess and the Education Cess.
  • Only the Clean Environment Cess is being retained, revenues from which will also fund the compensations.

India to host 7th session of COP7 on tobacco control from Nov 7-12 at Greater Noida

  • 7th Session of the Conference of Parties (COP7) to World Health Organization, WHO Framework Convention on Tobacco Control (FCTC) will be held from November 7th to 12th of this month.
  • It will bring together the WHO FCTC’s 180 Parties – which includes almost every country in the world, as well as regional economic integration organizations like the European Union

Govt, 3 PSUs to set up $2 bn equity fund for renewables

  • The Centre, along with state-run power entities NTPC, REC and PFC, will soon launch a USD 2 billion clean energy equity fund to support the government’s ambitious target of adding 175 GW renewable energy generation capacity by 2022.

Saudi Arabia awards water prize to 8 scientists

  • Saudi Arabia has awarded eight scientists the Prince Sultan Bin Abdulaziz International Prize for Water at a ceremony at the United Nations headquarters in New York.
  • The ceremony was hosted by UN.
  • Friends of Water and presided over by Secretary-General Ban Ki-moon along with the prize committee chairman Prince Khalid Bin Sultan Bin Abdulaziz.
  • The bi-annual prize, established in 2002, aims to provide recognition to scientists and others whose work creatively addresses the problem of water scarcity.

Yes Bank launches new mobile banking app

  • India’s Private sector lender Yes Bank has launched “Yes Mobile 2.0”its new mobile banking app with multiple new features and extensive support for banking transactions on Apple and Android-based Smart Watches.
  • The new application is filled with features like comprehensive bill payments, speech to text capabilities for registering complaints and queries and even bill payments from wearables.
  • The app will allow customers to undertake most transactions on the app including Net Banking registration, thereby eliminating the need to visit the website or a banking branch.

Young Indian Lawyer Gets Elected Into UN’s Top Body Of Legal Experts

  • An Indian lawyer won an election in the United Nations General Assembly for membership to the world body’s top body of legal experts.
  • 33-year-old Aniruddha Rajput is among the 34 individuals elected by the General Assembly as members of the International Law Commission.

Google ties up with ASI for virtual tour of monuments

  • American multinational technology company, Google has tied up with Archaeological Survey of India (ASI) for 360-degree virtual tour of 280-odd monuments across the country.
  • ASI had given the permission to Google for creating the virtual tour, which would be available in the maps.
  • Google has launched an arrangement of products in India like offline view of maps, live traffic alerts and the inclusion of unknown places on the maps by local guides.

Sri Lankan music legend Pandit Amaradeva passes away

  • Legendary Sri Lankan singer and composer Pandit Amaradeva, recipient of many international honours, including Padma Shri, for his contribution to music, died on 03 November 2016 after a heart attack.
  • He was 88.

Former J&K Deputy Chief Minister passes away

  • Former Jammu and Kashmir Deputy Chief Minister Mangat Ram Sharma died on 03 November 2016, after a prolonged illness.
  • He was 85 years old.

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