Daily Update On Current Affairs – June 12, 2017

current affairs

Here’s your daily summary of Current Affairs.

HM Rajnath To Chair Meeting On Indo- Myanmar Border Issues In Aizawl

Home Minister Rajnath Singh will chair a meeting on Indo- Myanmar Border issues in Aizawl on the 13th June. The meeting is likely to discuss the status of border infrastructure along the Indo-Myanmar border and implementation of Border Area Development Programme projects. Mr. Singh will also review the status of streamlining the Free Movement Regime for better facilitation of movement of people across the border. The Chief Ministers of Arunachal Pradesh, Nagaland, Manipur, and Mizoram are expected to attend the meeting along with the chief secretaries, DGPs of the states, Director General of the Assam Rifles and other senior officials.

First Batch Of 58 Pilgrims On Kailash Mansarovar Yatra Flagged Off

External Affairs Minister Sushma Swaraj today flagged off the first batch of 58 pilgrims to the Kailash Mansarovar Yatra for the season. Speaking on the occasion, Ms. Swaraj appealed to the pilgrims to keep an eye on cleanliness while on the way to the Mount Kailash. She also appealed to pilgrims to be more responsible towards cleanliness and environment protection. She said Ministry of External Affairs received nearly 4,500 applications for the annual yatra this year witnessing an increase of around 1,800 as against 2016. Eighteen batches of 60 pilgrims each will take the Lipulekh Pass route while eight batches comprising 50 pilgrims each will take the Nathu La route. The former is known to be more arduous. Kailash Manasarovar Yatra is known for its religious value, cultural significance, physical beauty and thrilling nature. It is undertaken by thousands of people every year. Holding significance for Hindus as the abode of Lord Shiva, it holds religious importance also for the Jains and the Buddhists.

Maharashtra Government Announces Loan Waiver For Farmers

After eleven days of farmer’s protests across Maharashtra, the state government today announced loan waiver to farmers. Following the announcement, the farmer leaders in the state have decided to call off the protest that was scheduled for tomorrow.

India Helping Nepal To Set Up A National Police Academy

India is helping Nepal to set up a national police academy near Kathmandu at a cost of 550  crore rupees. The Academy at Panauti, 35 km southeast of Kathmandu, will be on the lines of Hyderabad-based Sardar Vallabhbhai Patel National Police Academy. It will provide training to 410 Nepalese police officers annually. As of now, 350 police officers from Nepal undergo training in India every year.  India provides substantial financial and technical development assistance to Nepal, which is a broad-based programme focusing on the creation of infrastructure at the grass-root level, under this various projects have been implemented in the areas of health, water resources, education and rural and community development.

US And Russia Call For Dialogue Over Qatar-GCC Dispute

US Secretary of State Rex Tillerson and Russian Foreign Minister Sergey Lavrov have called for dialogue over the Qatar-GCC dispute. In a statement yesterday, the Russian Foreign Ministry said the two leaders spoke on the phone and discussed the consequences of the decision by a number of Arab countries to break diplomatic ties with Qatar. The statement said Lavrov and Tillerson pointed to the need of resolving disagreements through negotiations and expressed their willingness to contribute to such efforts. Speaking to reporters later, Lavrov said Russia was ready to try to do everything in its power to help resolve the Gulf crisis. On Monday, Saudi Arabia, the United Arab Emirates and Bahrain, along with Egypt and a group of smaller countries, severed relations with Qatar, accusing it of supporting terrorism. Qatar has rejected the allegations as baseless.

FPIs Pour In 1.8 bn In Last Seven Trading Sessions

Foreign investors infused in 1.8 billion dollars in the country’s capital market in the last seven trading sessions. This is due to finalisation of GST rates for most items, and the forecast of a normal monsoon. Most of the funds were invested in the debt markets by foreign portfolio investors, FPIs. The differential spread between 10-year bond yields in the US and India is still around 4.5 to 5 percent. According to the latest depository data, FPIs pulled out 289 crore rupees from equities between June 1 and 9. But they poured in 11,734 crore rupees in the debt markets during the period under review, translating into a net inflow of 11,445 crore rupees, or 1.8 billion dollars. This follows a net inflow of more than 1.3 lakh crore rupees in the February to May 2017 period.

Growth To Improve This Year Owing To Structural Reforms: FM Arun Jaitley

Union Finance Minister Arun Jaitley has said, he expects the country’s growth to turn around and improve this year owing to structural reforms. He was talking to a TV channel in Washington. Mr. Jaitley said, with the kind of structural reforms which are setting in, the kind of public expenditure and the foreign direct investment coming in, the growth will improve. He said India has carried on a large number of structural reforms in the last few years. The Minister said, the important challenge is with regard to a private sector investment and hoped that over the next one year or so, the problem of the Indian banking system will be addressed and India will again pick up significant growth. Mr. Jaitley also said that demonetisation has led to a great movement towards digitisation.

GST Council Reduces Tax Rates On 66 Goods Including Insulin; Composition Limit Raised From 50 Lakh Rupees To 75 Lakh Rupees

Finance Minister Arun Jaitley has said, GST council reduced tax levels on 66 goods as against representations received for 133 items. He was addressing the media after the 16th meeting of GST Council in New Delhi today. “The GST Council has reduced the tax levels in 66 out of these 133 cases. The reduction was based on two principles; one is to maintain the equivalence levels and in certain cases, we even breach the equivalence principle because of the changing nature of the economy and the consumer preference. Mr. Jaitley said composition amount under GST raised to 75 lakh rupees for traders, manufacturers, restaurants against earlier 50 lakh rupees. GST rate on insulin has been reduced from 12 to 5 percent. On several food items tax has been reduced from 18 percent to 12 percent. He said, 28 percent GST will be for cinema tickets above 100 rupees and 18 percent GST for cinema tickets below 100 rupees. “Kajal from  28 percent to 18, Agarbatti from to 12 to 5, dental wax from 28 to 18, and important item like Insulin from 12 to 5 percent. Plastic Beads 28 to 18, plastic tarpaulin 28 to 18. Mr. Jaitly said, the rates on goods decided on the 11th June would make the goods cheaper for the common man but may cost to revenue of the government. Mr. Jaitley said rate on kid’s colouring books has been brought to nil from present 12 percent.

LIC Sets Record By Settling 99.92% Cases

The Life Insurance Corporation (LIC) has pulled off a record claim performance by settling 99.92 percent of death claims in 2016-17 as against industry average of 95 percent. The insurance behemoth is keen to push the boundary further, looking to settle 99 per cent claims on a monthly basis too in future. “LIC has settled 99.92 percent of death claims in 2016-17, which is undoubtedly one of the best performances not only in the country but in the world,” an LIC source told PTI here. According to industry body Life Insurance Council, there are a total of 24 players, including LIC, active in the life insurance space and the industry average of death claim settlement stands at around 95 percent. “One of the fundamental reasons for the strong brand of LIC is our service delivery and our claim settlement operations in particular,” the source said, adding that “we would expect that not only we continue to focus on this area, but further strengthen it by settling 99 percent claims on month on month basis”. Till date, LIC has had nearly 11 lakh such cases outstanding and expects that each and every case needs to be followed up to its logical end.

Nadal Lifts His 10th French Open Men’s Singles Title

Spain’s Rafael Nadal has lifted his 10th French Open Men’s Singles Title. In a one-sided final in Paris on the 11th June 2017, he completely overwhelmed Swiss star Stan Wawrinka in 6-2, 6-3, 6-1. With the win, the 31-year Nadal has become the first player in the Professional Arena to win the same Grand Slam title 10 times. The World’s 4th ranked player has 15 Grand Slams to his credit. World No. 3 Wawrinka has three Grand Slam titles to his credit including a French Open crown.
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