Here’s your daily summary of Current Affairs.
India Becomes Net Exporter Of Power For The First Time
According to Central Electricity Authority (CEA), under Union Power Ministry, India for the first time has become a net exporter of electricity during the April-February period in fiscal 2016-17. During this period, India exported around 5,798 million units of electricity to Bangladesh, Nepal and Myanmar. It is 213 million units more than the import.
Uttarakhand High Court Orders Completed Ban Of Mining In State
The Uttarakhand High Court has ordered a complete ban on all mining activities in the state for four months. The court gave this order while hearing on Public Interest Litigation (PIL). It comes after a forest guard was allegedly killed by illegal miners near Corbett National Park when he had tried to stop them.
All Four Key Bills Related To GST Passed In Lok Sabha After Marathon Debate
All four Key Bills related to GST have been passed by the Lok Sabha. The bills which were passed a shortwhile ago, are Central GST, Integrated GST, UT GST & GST Compensation. The Central GST deals with taxation related to Centre, integrated GST deals in taxation of inter-state movement of goods and services while the Union Territory GST Bill covers taxation in Union Territories. The compensation law has been prepared to give a legislative backing to the Centre’s promise to compensate the states for five years for any revenue loss arising out of GST implementation.
Replying to around eight hour long debate, Finance Minister Arun Jaitley said, the GST will replace various indirect taxes with a new tax regime which will ensure free flow of goods and services across the country. He said, the goods will become slightly cheaper after multiplicity of taxes is removed. He said, the object of GST is to have one tax and each assessee with one assessing officer. Responding to members’ questions, the Minister said under the GST, for one commodity there will be only one tax rate in the country.
Supreme Court Bans Sale And Registration Of Non BS-IV Compliant Vehicles From 1st April Across The Country
In a blow to automobile firms, the Supreme Court today banned sale and registration of non BS-IV compliant vehicles across the country from April 1 when the new emission norms come into force. The Apex court observed that health of the people is far more important than the commercial interests of the manufacturers. It said that the makers of such vehicles have declined to take sufficient proactive steps despite being fully aware that the firms would be required to manufacture only BS-IV compliant vehicles from first of next month. The court also prohibited registration of vehicles, which do not meet Bharat Stage-IV emission standards, from April 1 except on a proof that such a vehicle was sold on or before March 31.
Meanwhile, Green bodies lauded the court’s decision, terming it as an acknowledgement of the public health crisis and a step in right direction towards fighting air pollution. Environment experts said the transition was critical as the movement from BS-III to BS-IV could lead to substantial reduction in particulate matter emission.
British Prime Minister Theresa May Signs Letter To Trigger Brexit From European Union
British Prime Minister Theresa May has signed the letter that will trigger Britain’s exit from the European Union. The letter will be delivered to European Council President Donald Tusk by British ambassador to the EU Sir Tim Barrow today. It sets the clock for a two-year negotiation process for Britain’s relationship with the EU as a non-member.
US President Donald Trump Signs An Executive Order To Roll Back Obama’s Climate Change Measures
US President Donald Trump has signed an executive order to roll back his predecessor Barack Obama’s climate change measures keeping up his campaign promise. Trump, after signing the order yesterday said that the executive action is a historic step to lift the restrictions on American energy, to reverse government intrusion and to cancel job-killing regulations. The President said, this decision is the latest in the series of steps to create American jobs and to grow American wealth. The Executive Order directs all agencies to conduct a review of all regulations, rules, policies and guidance documents that put up roadblocks to domestic energy production. The opposition Democratic party and environmental groups, however, slammed Trump for his latest move.
80 Million EPF Retirees May Soon Get Health Care Benefits
More than 80 million workers contributing to the Employees Provident Fund (EPF) may soon be eligible to receive medical treatment from Employees State Insurance (ESIC) hospitals across the country, after their retirement.
SEBI Plans One Registration For Equity And Commodity Brokers
SEBI will soon approve a single registration mechanism for brokerages that are present in both commodity and equity segments. This approval is likely to be given by SEBI at its board meeting to be held in April 2017. The move, once implemented, will benefit a large number of market intermediaries who currently have to block separate funds in the form of net worth and base minimum capital for their stock and commodity businesses. With a common registration in place, separate allocation of funds can be done away with.
Tamil Nadu Wins Deodhar Trophy
In a season of brilliant performances, the Tamil Nadu cricket team won the Inter Zonal Deodhar Trophy cricket match beating the India Red team by 42 runs. This is its second major title of the year, after winning the Vijay Hazare Trophy earlier this month. The architect of Tamil Nadu victory was their wicket keeper and star batsman Dinesh Karthik, who scored yet another century, this time making 126 runs.
Dinesh Karthik has had a wonderful season this year, scoring runs at will and guiding his team to title triumphs. With this win, Tamil Nadu becomes the first team in the country to have won all the domestic tournaments in India atleast once.