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President Pranab Mukherjee re-promulgated to amend Enemy Property Act
Indian President Pranab Mukherjee night re-promulgated an Ordinance to amend the Enemy Property Act Eviction of Unauthorized Occupants Act of 1971 pending ratification by Rajya Sabha.
Key features of the Bill
i. The Bill amends the Enemy Property Act, 1968, to vest all rights, titles and interests over enemy property in the Custodian
ii. The Bill declares transfer of enemy property by the enemy, conducted under the Act, to be void. This applies retrospectively to transfers that have occurred before or after 1968.
iii. The Bill prohibits civil courts and other authorities from entertaining disputes related to enemy property.
Puducherry CM V Narayanasamy presented budget for the Fiscal year 2016-17
Newly elected Puducherry chief minister V Narayanasamy, who holds the finance portfolio, presented a tax-free Rs 6,665 crore budget for the financial year 2016-17.
Budget 2016- 17 :-
i. The budget size for the fiscal 2016-2017 has been fixed at Rs.6,665 crore of which Rs. 4,100 crore is for the non-plan head.
ii. Almost 25% of the budget goes for salaries and wages, 10% for pension payments, 17% for purchase of electricity, 12% interest and repayments and 11% towards grant-in-aid.
iii. Presenting a tax-free budget, CM also announced a slew of measures to revive industrial growth, promote employment creation and boost the tourism sector.
iv. The Excise Department had been given a target of Rs.775 crores for this fiscal and the revenue realized by Excise Department last fiscal was Rs. 673.75 crores and based on the past performance the department had been given the target of Rs. 775 crores.
Maharashtra & Haryana Assembly ratifies GST Bill
i. BJP led Maharashtra and Haryana government has ratified the Tax reform bound GST Constitution (122nd) Amendment Bill 2016 in a move that makes tenth and eleventh states to pass the bill after a debate in their respective State Assemblies.
ii. The State Finance Minister Sudhir Mungantiwar assured that state will neither lose revenue nor its financial autonomy after shift to new tax regime.
iii. Besides the bill was introduced by Finance Minister Capt Abhimanyu in the Haryana State Assembly and it was unanimously passed after a brief debate.In the Haryana house BJP has 47 MLAs of the 90 Member Assembly.
States Passed GST Bill:
11 the number of states which have passed the landmark tax reform such as Assam, Bihar, Jharkhand, Himachal Pradesh, Chhattisgarh, Gujarat, Madhya Pradesh, Nagaland ,Delhi, Madhya Pradesh and Haryana.
Union HRD Minister Prakash Javdekar unveiled IIT Dharwad in Karnataka
i. Union Human Resource Development Minister Prakash Javdekar formally launched IIT Dharwad chapter in Dharwad in Karnataka.
ii. Indian Institute of Technology Dharwad (IIT Dharwad) is an autonomous premier engineering and technology university located in Dharwad.
iii. The new Indian Institute of Technology (IIT) at Dharwad would start functioning from July, 2016 in a temporary campus housed at Water and Land Management Institute (WALMI) in Belur village on the outskirts of Dharwad city.
iv. For the academic year 2016-2017, it will offer B.Tech courses in three core branches namely Electrical, Computer Science and Mechanical.
v. As part of the mentorship plan, IIT-Bombay would be the mentor for IIT-Dharwad.
vi. The HRD Ministry had set up an IIT monitoring cell at IIT-Bombay and the committee members had been designated as officials on special duty to supervise the process of setting up IIT-Dharwad.
vii. It is noted that in the 2015-16 union budget, an IIT was sanctioned for Karnataka state and the state government suggested three locations for IIT in Karnataka. Many prominent citizens, including a few foreign-returned Dharwad residents put a lot of efforts to get this prestigious institute to Dharwad city, as there was a lot of competition among cities to get this premier institute.
Indian navy set-up high level committee to find out extent of Scorpene submarine data leak
i. Indian Navy has set-up a high level committee to find out the extent of Scorpene submarine data leak and the damage to the Navy.
ii. The committee will be headed by Deputy Chief of Naval Staff Admiral Ashok Kumar and based on the report of the committee; Navy will see what mitigation measures need to be taken.
iii. It is noted that French company DCNS, which designed the Scorpene submarines and is in the centre of a global submarine data leak scandal, has, meanwhile, approached the Supreme Court in Australia seeking an injunction against ‘The Australian’ from further publishing the leaked documents on India’s Scorpene submarine project.
iv. But the Indian government has maintained that the leak will not affect the submarine programme and the capability of the vessel, the opposition Congress party has accused the government of brushing the matter under the carpet.
v.The Scorpène-class submarines are a class of diesel-electric attack submarines jointly developed by the French DCN and the Spanish company Navantia and now by DCNS. It features diesel propulsion and an additional air-independent propulsion.
Bengal Assembly Passes Resolution to Change Name of State
i. West Bengal Legislative Assembly (WBLA) passed a resolution in favor of changing the name of the state from West Bengal to Bangla. The resolution was passed during the special session of the House which was convened exclusively for the purpose of changing the name of the state.
ii. It is noted that the Mamata Banerjee government had approved a change of name to either Banga or Bangla. The choice was simpler in English: Bengal.
iii. But there was no consensus among the ruling Trinamool Congress and the opposition parties. The resolution to change the name of the state to Bangla was passed as it was supported by 189 members of the WBLA.
iv. The name Bangla has a historical and cultural background. I don’t have any problem with the name of ‘Bango’ either. But most of the people want the name ‘Bangla’. In English it will be ‘Bengal’ so that there will be no confusion with the name of neighboring Bangladesh.
v. It is noted that the name West Bengal is symbolic of the history of this part of the country, especially its partition. But ahead of the 2019 general elections, a fresh identity for Mamata Banerjee and her government could mark a fresh start towards a greater political goal.
World Population to hit 9.9 Billion in 2050, PRB report says
According to the projections of the 2016 World Population Data Sheet from the Population Reference Bureau (PRB),the world population will reach 9.9 billion in 2050, up 33 percent from an estimated 7.4 billion now.
i. PRB’s projections show Africa’s population will reach 2.5 billion by 2050, while the number of people in the Americas will rise by only 223 million to 1.2 billion.
ii. Asia will gain about 900 million to 5.3 billion, while Europe registers a decline from 740 million to 728 million. Oceania (which includes Australia and New Zealand)would rise from 40 million to 66 million.
iii. As per the expected rate of growth, the expected population of the top populous countries in 2050 as follows:-
1.India – 1,708 Million (1,329 in 2016)
2.China – 1,344 Million (1,378 in 2016)
3.US – 398 Million (324 in 2016)
4.Nigeria – 398 Million (197 in 2016)
5.Indonesia – 398 Million (259 in 2016)
India ranks third in Robotic Automation implementation in core Business Process
i. According to Chartered Institute of Management Accountants, (CIMA), India ranks third in the world in implementing robotic automation in their core business processes. CIMA is an UK based organization that conducted the global survey across European, African and Asian countries.
ii. Zimbabwe tops the chart with (75%) professionals supporting automation, followed by China with a 67% of acceptance compared to 64% professionals support automation in India. India ranks third in the world in implementing robotic automation in their core business processes.
iii. Robotic process automation (RPA) is the application of technology that allows employees in a company to configure computer software or a “robot” to capture and interpret existing applications for processing a transaction, manipulating data, triggering responses and communicating with other digital systems.
iv. This study covered more than 3,000 select experts from leading financial companies across the world also pursuing a CIMA professional qualification.
v. CIMA study also states that in India more than 50% of financial experts feel that better automation and data analysis enable companies to become more efficient and bring a better work-life balance and China becomes the top country with (66%) of a positive feedback.
BANKING & FINANCE
Yes Bank launches its own mobile wallet Yes Pay
i. Mumbai based private sector bank Yes Bank has launched Yes Pay, a digital wallet which does not require that both the transacting parties be registered on it.
ii. As a pilot move Yes Pay is built as a Facebook app on the Android and iOS mobile platforms in the realm of digital payments scenario.
iii. This wallet can be accessed through Facebook without any additional registration, Yes Pay has now empowered all social media and Smartphone users allow to both ‘users’ and ‘non users’ to send and receive money besides offering mobile recharge and bill payment.
iv. The Wallet Yes Pay has associated with merchants like PayU, Euronet, Coupon Dunia, One Assist QuikWallet, ToneTag and Witty Gift to enable users to make seamless bill payments.
♦ Headquarters: Maharashtra
♦ CEO: Rana Kapoor
♦ Slogan: Experience our expertise
NABARD granted Rs. 204.67 crore for Haryana under RIDF scheme
i. National Bank for Agriculture and Rural Development (NABARD) has sanctioned a loan of Rs 204.67 crore under Rural Infrastructure Development Fund (RIDF) for rural infrastructure in Haryana.
ii. This aid was provided under Rural Infrastructure Development Fund for projects including a 10 mw solar plant at Panipat thermal power station.
iii. Rs 147.18 crore has been sanctioned to the state government under the 22nd tranche of RIDF for 2016-17 for construction of three rural bridges, construction and upgradation of 26 rural roads in 10 districts namely Ambala, Faridabad, Gurgaon, Hisar, Jind, Karnal, Mahendergarh, Panchkula, Rewari and Yamunanagar.
iv. The project aims at improving the facilities in the field of agriculture and rural development, improve the quality of life in villages through provision of better transportation system and round-the-year better connectivity to villages with nearby hospitals, educational institutes, godowns and marketing centers.
v. It is noted that the installation of 10 MW Photo Voltaic Solar Power Plant at PTPS would generate green energy which would have positive results for the environment and help in fulfilling the Renewable energy purchase obligations of the state.
♦ HQ – Mumbai
♦ Founded – 1982
♦ Chairman – Dr. Harsh Kumar Bhanwala
ACQUISITIONS & MERGERS
TerraPay acquires UK’s Pay2Global
i. Amsterdam based global financial network TerraPay has acquired UK-based Pay2Global for an undisclosed amount following regulatory approvals.
ii. Upon this acquisition, Pay2Global will be rebranded Terra Payment Services (UK) and will start services to key markets in Asia and Africa.
iii. The Purchase by the TerraPay (Mahindra Comviva incubated company) will help the fast-track entry into the European market. On the other hand Pay2Global is a regulated digital international money transfer company with rights into the European Economic Area (EEA).
SCIENCE & TECHNOLOGY
NASA’s Juno successfully completes Jupiter flyby
i. NASA’s solar-powered Juno mission has successfully executed first of 36 orbital flybys of Jupiter our solar system’s most massive planet passing 4,200 kilometres above the planet’s clouds.
ii. This flyby was the closest contact ever achieved and will get to Jupiter during its prime mission. The Juno Aircraft was launched back on Aug. 5, 2011, from Cape Canaveral, Florida as part of the New Frontiers program.
iii. The flyby was the first time Juno had its entire suite of science instruments activated and looking at the giant planet as the spacecraft zoomed past. Over 35 more close flybys of Jupiter planned during Juno’s mission which is scheduled in 2018.
♦ Juno is a NASA space probe designed by NASA to see beneath Jupiter’s clouds which is now orbiting the planet Jupiter after entering orbit on July 5, 2016. It had crossed 2.7 billion KMs since its launch to reach planet.
♦ This is the second spacecraft to orbit Jupiter and the first solar powered craft and only behind the nuclear powered Galileo probe.
New ‘green’ way to produce metals found
i. MIT scientists have discovered a new ‘green’ and less expensive method to produce metals without causing air pollution.
ii. The discovery could lead to metal-production systems that are much less expensive and that virtually eliminate the greenhouse gas emissions associated with most traditional metal smelting.
iii. The material they were using, antimony sulfide, is a molten semiconductor, which normally would not allow for the kind of electrolytic process that is used to produce aluminum and some other metals through the application of an electric current.
iv. Antimony sulfide is a very good conductor of electrons. But if you want to do electrolysis, you only want an ionic conductor – that is, a material that is good at conducting molecules that have a net electric charge.
v. Electrolysis is much more efficient than traditional heat-based smelting methods, because it is a single-step continuous process. The discovery of that process is what transformed aluminum, more than a century ago, from a precious metal more valuable than silver into a widely used inexpensive commodity.
vi. If the process could be applied to other common industrial metals such as copper, it would have the potential to significantly lower prices as well as reduce the air pollution and greenhouse gas emissions associated with traditional production.
Shri Ananth Kumar Stresses Upon The Need For Affordable Medicines; Launches ‘Pharma Sahi Daam’ Mobile App
i. The Chemicals & Fertilizers and Parliamentary Affairs Minister Ananth Kumar has launched a mobile App called Pharma Sahi Daam on the National Pharmaceutical Pricing Authority (NPPA) foundation day function in New Delhi.
ii. The App was developed by NPPA which shows the MRP fixed by NPPA for various scheduled drugs on real time basis of New National List of Essential Medicines-2015.
iii. In the Sidelines the Minister also urged a ‘3A (Availability, Affordability and Accessibility) approach to achieve health security for every citizen of India.
iv. He aslo underlined that two pronged strategy is being adopted by the government to deliver cheap medicines to the common man- one is through regulating the prices by NPPA and another is opening of PM Jan Aushadhi Stores which offers medicines less than 50% of the Market price .
Nico Rosberg bags the prestigious Belgian Grand Prix 2016 title
i. Nico Rosberg rekindled his bid for the drivers’ world championship by steering his Mercedes to a convincing victory in chaotic crash-hit Belgian Grand Prix, as Lewis Hamilton fought back to finish third.
ii. The Belgian Grand Prix is an automobile race, part of the Formula One World Championship.
iii. The first national race of Belgium was held in 1925 at the Spa region’s race course, an area of the country that had been associated with motor sport since the very early years of racing.
iv. Rosberg started from his third successive pole position, led from start to finish in a 44-laps race fractured by accidents and incidents to secure his first victory in Belgium and his sixth of the season.
v. Nico Erik Rosberg (born 27 June 1985) is a German Formula One driver for Mercedes Formula One team. Born in Germany as the son of Finnish former world champion Keke Rosberg, he races under the German flag in Formula One, but has also briefly competed for Finland in early stages of his racing career.
vi. Rosberg won the 2005 GP2 Series for the ART team, having raced in Formula 3 Euro Series previously for his father Keke Rosberg’s racing organisation Team Rosberg. Rosberg entered Formula One in 2006 with Williams, the team with which his father had won the 1982 championship.
16-Year-Old Gurgaon Boy Develops Amazing App to Help Indian Paralympians in Rio
i. A Mobile App has been developed by Gurgaon based Arhan Bagati. He is 16 years old .The App will assist the Indian contingent in the 2016 Summer Paralympics in Rio de Janeiro.
ii. Bagati is a student of a private school in Gurgaon and has been helping differently-abled sportsmen.
iii. The App was launched in the presence of Lieutenant Governor Najeeb Jung and Union Minister of State (IC) for Sports & Youth Affairs Vijay Goel.
iv. The App comes with various features such as Emergency contact details of the Indian embassy, Route maps to nearest disabled-friendly kiosks, SOS messages to specific numbers among others.
Former MP Governor Mohammad Shafi Qureshi no more
i. Veteran Congress leader and former Governor of Madhya Pradesh Mohammad Shafi Qureshi has passed away in Delhi. He was 87 years old.
ii. He also served as the Deputy Union Minister of Railways and got elected for Lok Sabha twice from Islamabad Parliamentary Constituency.
iii. He was the 19th Governor of Madhya Pradesh and served as the governor of Bihar as well and was appointed as Jammu And Kashmir Projects Construction Corporation Limited president twice.
Eminent painter, writer and art historian Dinanath Pathy passed away
i. Eminent painter, writer and art historian Dinanath Pathy passed away following a cardiac arrest at a hospital in Bhubaneshar and he was 74.
ii. He is known for his versatility; Pathy was a former secretary of Lalit Kala Akademi, New Delhi and Bhubaneswar and is regarded as the pioneer of the art movement in Odisha.
iii. He has apprenticeship in his brother’s atelier “Silpa Kala Mandira.” Later studied at Khallikote (painting), Bhubaneswar (Ph.D. in History) and Santiniketan (Ph.D. in Art History).
iv. State Visualiser for Government of Orissa for major national and international exhibitions including Kalinga Bali Yatra, Festival in BaH, Indonesia (1993). Designer, Curator and Commissioner for Festival of India, Exhibition – Indian Popular Art in Sweden and USSR (1987).
v. Recipient of President of India Silver Plaque for Painting (AIFACS, 1988), A. L. Basham Memorial Award for creative research from the Institute of Oriental and Orissan Studies (1986) and Orissa Sahitya Akademi (State Academy of Letters) Award for creative literature (for the autobiography – Drawing Master of Digapahandi, 1993).
vi. It is noted that he is a recipient of International Award in 98′ China Art Exposition and Kalashree Award for Iifetime achievement (AIFACS, 2001).
August 29 – International Day against Nuclear Tests
i. The International Day against Nuclear Tests is observed on August 29. It was established on December 2, 2009 at the 64th session of the United Nations General Assembly by the resolution 64/35.
ii. The United Nations recognizes the International Day Against Nuclear Tests every year on that date to commemorate the decision by Kazakhstan’s President Nursultan Nazarbayev to shut the Semipalatinsk Test Site down on August 29, 1991.
iii. The resolution in particular calls for increasing awareness “about the effects of nuclear weapon test explosions or any other nuclear explosions and the need for their cessation as one of the means of achieving the goal of a nuclear-weapon-free world”.
iv. The International Day against Nuclear Tests serves as a reminder of the 1996 Comprehensive Nuclear Test Ban Treaty that the U.N. adopted, but has not yet entered into force.
v. The treaty would ban all nuclear testing or explosions in any setting, yet eight states in the world have not signed or ratified it yet: China, Egypt, India, Iran, Israel, North Korea, Pakistan and the United States.
National Sports Day-August 29
i. The National Sports Day is celebrated on August 29 annually. This day marks the birthday of Dhyan Chand, the hockey player who won gold medals in Olympics for India in three occasions (1928,1932 and 1936).
ii. Indian hockey wizard Chand was born in 1905 to a Rajput family in Allahabad, and hence this day was celebrated as Rashtriya Khel Diwas (National Sports Day).
iii. On this occasion President Pranab Mukherjee president conferred Rajiv Gandhi Khel Ratna Award, Arjuna Award, Dronacharya Award Dhayanchand Award and Tenzing Norgay award in the function held in New Delhi.
iv. The President awarded the prestigious Tenzing Norgay National Adventrue Award to Shri Harbhajan Singh, IG, Indo-Tibetan Border Police (ITBP), in appreciation of his life time contribution in the field of mountaineering. Singh is 12th Himveer of the ITBP to be awarded with this respected adventure honour.
iv. The Dhyan Chand Lifetime Achievement Award conferred with the Jharkhand Dungdung Former Olympian Silvanus Dungdung Major. It is regarded that People in Jharkhand’s Simdega living Silvanus Dungdung the hockey stick made of bamboo and dried fruit custard apple started off by making your game.