Current Affairs 1 August, 2017 –  Government enters into 9 unilateral APAs with taxpayers in July

NATIONAL

Rajya Sabha passes Constitution (123rd Amendment) Bill, 2017 with amendments:

    The Rajya Sabha passed the Constitution (One Hundred and Twenty-third Amendment) Bill, 2017 with amendments providing for setting up of a National Commission for Backward Classes, was passed after dropping Clause 3.

    The dropped clause pertains to the insertion of a new article 338B about the constitution and powers of the National Commission for Backward Classes.

Government to end LPG subsidy by March next year:

    The government has ordered state-run oil companies to raise subsidised cooking gas, LPG, prices by four rupees per cylinder every month to eliminate all the subsidies by March next year. Petroleum and Natural Gas Minister Dharmendra Pradhan said.

Deadline to apply for crop insurance scheme extended to Aug 5:

    Maharashtra Agriculture Minister Pandurang Fundkar informed that the state Government has extended the deadline for subscribing to the Union government’s crop insurance scheme.

    The extended deadline now is August 5. The Minister said the last day to apply for the scheme was July 31. But a large number of farmers have not been able to apply for the scheme. Their applications will now be accepted till August 5 at bank branches only and not at Common Service Centres (CSCs).

Maharashtra

• Capital: Mumbai
• Chief Minister: Devendra Fadnavis
• Governor: C. Vidyasagar Rao

SC bans use of five metals in firecrackers:

    The Supreme Court imposed a ban on the use of five harmful metals including lead and mercury in firecrackers as they cause enormous air pollution.

    A bench headed by Justice Madan B Lokur prohibited use of lithium, mercury, arsenic, antimony, lead metals which are used in the manufacturing of firecrackers.

PM Modi to inaugurate two-day Rajaswa Gyansangam on 1st September in New Delhi:

    Prime Minister Narendra Modi will inaugurate the two-day “Rajaswa Gyansangam” on 1st September in New Delhi. The focus of the discussion will be on GST as well as on unearthing black money

Projects worth Rs 425 crore approved by NMCG:

    The Executive Committee of National Mission for Clean Ganga in its 4th meeting held approved seven projects worth Rs 425 crore in the sector of sewage infrastructure, Ghat development and research. All the six projects will be provided with Operation and Maintenance cost for 15 years by Central government and 100 per cent central assistance. 

Swachh Survekshan-2018 launched to assess sanitation:

    Central government launched ‘Swachh Survekshan-2018’ to rank all the 4,041 cities and towns of the country based on infrastructure development for improved sanitation services and their sustainability, outcomes, citizen connect and visible impact on ground.

    This would be the first Pan-India survey to assess sanitation levels in all the cities and towns of the country impacting the lives of about 40 crore urban citizens, considered as the largest of its kind in the world. Union Minister of Housing & Urban Affairs, Narendra Singh Tomar launched the survey.

Government enters into 9 unilateral APAs with taxpayers in July:

    In a bid to foster a non-adversarial tax regime, the Central Board of Direct Taxes (CBDT) entered into nine Unilateral Advance Pricing Agreements (UAPAs) with Indian taxpayers during the month of July, the government said.

    The APA Scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and determining the Arm’s Length Price of international transactions in advance for a maximum period of five future years.

INTERNATIONAL

US President Donald Trump awards Medal of Honor to Army medic 48 years later:

    An Army medic who ran into danger to save wounded soldiers during a Vietnam War battle despite his own serious wounds became the first Medal of Honor recipient under President Donald Trump. 48 years after the selfless acts of bravery, James McCloughan is now nationally recognised.

USA

• President of the United States: Donald Trump

• Currency: United States Dollar
• Capital: Washington, D.C.

India-Bhutan new trade pact comes into force from July 29: Govt

    The commerce ministry has said the new agreement on trade, commerce and transit between India and Bhutan which has come into force from July 29, will further strengthen economic ties between the two countries. The agreement provides for a free trade regime between the countries and it also gives duty free transit of Bhutanese goods for trade with third countries.

Bhutan

• Currencies: Indian rupee, Bhutanese ngultrum
• Capital: Thimphu

Typhoon Haitang strikes China:

    Over 2 lakh people have been evacuated after Typhoon Haitang struck China’s eastern Fujian Province with incessant rain battering different parts of the region.

China

• • Currency: Renminbi
  • Capital: Beijing
  • Prime minister: Li Keqiang
  • President: Xi Jinping

BANKING & BUSINESS

GDP growth in Jun quarter to be around 6.6% in India: Nomura

    India’s GDP growth is likely to be higher at 6.6 percent in the June quarter from the previous three months this year even as the pick-up in growth numbers in India has lost some momentum on account of GST, says a report.

    According to Japanese financial services major Nomura, the pick-up in growth which was visible toward end-of March quarter had lost some momentum towards end of the June quarter due to destocking and uncertainty ahead of the Goods and Services tax (GST).

RBI slaps Rs 1 crore penalty on Union Bank for KYC non-compliance:

    The Reserve Bank of India (RBI) said it has imposed a penalty of Rs 1 crore on state-owned Union Bank of India for “non-compliance” with the directions on Know Your Customer (KYC) norms.

1st time India becomes net export country in Steel: Birender Singh

    Minister for Steel Chaudhary Birender Singh said that first time India has become a net export country in Steel. The steel import in the country has gone down by 39 per cent and an export has gone up by 102 per cent last year. Crude steel production has registered 3.5 per cent growth during April-June 2017-18.

SCIENCE & TECHNOLOGY

Scientists just created a flexible bio-glue for healing wounds:

    Scientists have developed a super strong, flexible adhesive material inspired by the glue secreted by slugs that sticks to biological tissues – even when wet – without causing toxicity.

    The “tough adhesive” is biocompatible and binds to tissues with a strength comparable to the body’s own resilient cartilage, researcher’s professor at Harvard University’s Paulson School of Engineering and Applied Sciences (SEAS) in the US.

APPOINTMENTS

Sameer Garde named Cisco India and SAARC President:

    Tech giant Cisco has named former Philips Healthcare executive, Sameer Garde as president for its India and SAARC operations. He succeeds Dinesh Malkani, who is leaving the company to pursue other opportunities.

SPORTS

Abhijeet Gupta finishes second in Czech Open chess tournament:

    Commonwealth Champion Abhijeet Gupta came up with a spirited effort to beat Florian Kaczur of Hungary and finish second in the Czech International Open Chess tournament at Pardubidze in Czech Republic.

Summer Olympics: Los Angeles agrees to host 2028 Games; Paris gets 2024

    Los Angeles formally announced its bid for the 2028 Summer Olympics after agreeing on a deal that paves the way for Paris to host in 2024.

Kuala Lumpur: Indian women’s team beat Malaysia 2-0 in international friendly match

    In football, a double strike from substitute Pyari Xaxa helped a dominant Indian women’s team beat Malaysia 2-0 in an International friendly match at the MP Selayang Stadium in Kuala Lumpur.

Malaysia

• Currency: Malaysian ringgit
• Capital: Kuala Lumpur

Isner downs Harrison for fourth ATP Atlanta title:

    John Isner claimed his fourth ATP Atlanta title, saving a set-point in both sets en route to a win over Ryan Harrison. Second-seeded American Isner notched his second ATP title in as many weeks after lifting the trophy in Newport.

Rahul Yadav, Manu Attri-Sumeeth Reddy clinch titles at Lagos Open:

    In a good day for India at the Lagos International challenge in Nigeria, C Rahul Yadav clinched the men’s singles title while Manu Attri and B Sumeeth Reddy claimed the men’s doubles title. India’s Mugdho Agrey finished as runners-up in women’s singles at the Molade Okoya-Thomas Hall of the Teslim Balogun Stadium in Nigeria.

OBITUARY

Eminent Dhrupad singer Ustad Sayeeduddin Dagar passes away at 78:

    Ustad Hussain Sayeeduddin Dagar, one of the foremost exponents of the Dhrupad tradition, died in Pune. He was 78.

Current Affairs Quiz – 1 August, 2017