Home Daily Updates IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 05 - SEPTEMBER - 2016
IMPORTANT CURRENT AFFAIRS & DAILY NEWS UPDATES : 05 - SEPTEMBER - 2016
Monday, 12 September 2016 06:35

 

 

 


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DAILY NEWS UPDATES

05- SEPTEMBER - 2016

 

:: NATIONAL ::

UNIONS ACROSS INDIA GO ON STRIKE

  • All trade unions, except Bharatiya Mazdoor Sangh (BMS), have joined hands to make the national bandh on Friday a success.
  • Condemning the government for “making a mockery” of their main demand of minimum wages, the union leaders have pledged to take up a sustained agitation till the demands are met.
  • The union leaders have been addressing gate-meetings at major industrial units since the last couple of days to create awareness among the workers on their demands.
  • The government has agreed for Rs. 9,100 per month, which is not acceptable. The minimum wage per day now is Rs. 307, and the government has increased it by Rs. 43 to make it Rs. 350.

RELIANCE JIO COMES UP WITH FREE VOICE CALLS AND FREE ROAMING

  • Reliance Industries Chairman Mukesh Ambani threw down the gauntlet to rival telecom operators by announcing lifetime free voice calls and free roaming, and data plans priced at an average of Rs.50 per GB.
  • RIL customers will also enjoy free data till the end of 2016. “The era of paying for voice calls is ending,” Mr. Ambani said at the company’s annual general meeting.
  • His statements were interrupted by repeated rounds of applause from the shareholders.
  • As part of the introductory offer, users will have access to unlimited LTE data and national voice, video and messaging services free of cost up to December 31.

INDIA’S SPACE CAPACITY OF 34 WORKING SATELLITES IS NOT SUFFICIENT

  • India’s space capacity of 34 working satellites is barely half of what the country needs and is severely limited to meet increasing demands from the Centre, States and businesses, Chairman of the ISRO, said.
  • ISRO plans to put 12–18 satellites in space each year to meet this demand and also wants to be free to pursue higher technologies.
  • Domestic industry should urgently step in to make satellites and launch vehicles, he told a gathering of Indian and overseas space supplies companies.
  • ISRO’s satellites for communication, earth observation and navigation can connect people, tell fisher folk where to find fish; forecast crop yields, locate people or places; and help governments govern and plan projects.
  • Today, over 60 Central departments – compared to 15 departments until recently – and all State governments were demanding satellite-based solutions for governance.
  • While industry already supplied small systems and components for spacecraft and rockets, he said this was not adequate.
  • ISRO was working out ways for itself, its commercial arm — Antrix Corporation — and industry to provide practical solutions.
  • At least three of ISRO’s overseas counterparts have floated interesting possibilities to be pursued jointly with India.
  • The Swiss Space Centre which has earlier launched a tiny satellite on the PSLV has discussed with ISRO the possibility of jointly sending a small space craft to clear space debris.
  • Six more small commercial satellites of foreign customers are slated to be launched this month-end along with the ocean data gleaning Scattsat-1.

ODISHA BECAME THE 16TH STATE TO RATIFY THE CONSTITUTIONAL AMENDMENT FOR GST

  • Odisha became the 16th State to ratify the constitutional amendment that will pave the way for the roll-out of the Goods & Services Tax (GST).
  • Ratified now by more than half the 29 States, the amendment requires only the President’s assent — which, it is expected, to receive expeditiously — before the Centre can notify it.
  • Following the notification of the Constitutional (122nd Amendment) Act, 2014, no State will be able to remain outside the GST regime. Upon its notification, all States will lose the powers to levy and collect value-added tax.
  • This will be regardless of whether a State has ratified the amendment or not. Further, to receive a share in the revenue collected from the GST, a State will have to pass the model GST laws.
  • Even States such as Tamil Nadu — where the ruling All India Anna Dravida Munnetra Kazhagam has been opposing the GST in its proposed form are participating in the ongoing discussions for thrashing out the GST’s roll-out.
  • After the notification, the Centre and the States will immediately move to set up the proposed GST Council.
  • Union Finance Minister Arun Jaitley had earlier indicated that the Empowered Committee of State Finance Ministers itself is likely to be made the Council.
  • While the committee is headed by West Bengal Finance Minister Amit Mitra, the council is expected to be chaired by the Union Finance Minister.
  • Earlier, starting with Assam, Maharashtra, Haryana, Bihar, Jharkhand, Himachal Pradesh, Chhattisgarh, Gujarat, Telangana, Madhya Pradesh, Delhi, Mizoram, Nagaland, Sikkim and Goa ratified the amendment.

:: INTERNATIONAL ::

THE AUSTRALIAN COURT ASKS NEWSPAPER TO PROVIDE LEAKED DATA TO SHIPBUILDER DCNS

  • An Australian court confirmed its preliminary decision made earlier this week asking The Australian newspaper to provide all leaked data of Scorpene to the French shipbuilder DCNS and to stop publishing any more details.
  • The paper, which has already withdrawn information published on its website after the first decision of the court, will provide the DCNS with the documents in its possession and is prohibited from publishing any additional document.
  • Underlining that confidentiality of information and communication was a matter of utmost importance, the DCNS said, “It welcomes this decision of the court.”
  • In parallel to this action, the DCNS filed a complaint against unknown persons for breach of trust, receiving the proceeds of an offence and aiding and abetting before the Paris Public Prosecutor, it added.
  • Over 22,000 pages of top secret data on the capabilities of six highly advanced submarines being built for the Indian Navy in Mumbai, in collaboration with the French company, have been leaked.

EXCLUDING THE YOUTH FROM RECONCILIATION PROCESSES IS MOST SERIOUS INJUSTICES

  • Excluding the youth from reconciliation and peace-building processes is one of the most serious social injustices, UN Secretary General Ban Ki-moon told a group of young Sri Lankans.
  • He said: “Most of you were born and lived your early lives during conflict, terror and displacement. Many of you suffered deprivations and injustice.”
  • Involvement in peace-building, reconciliation and post-conflict transformation provides an opportunity to emerge from this trauma and play a part in creating a better future, he said.
  • Sections of the civil society have welcomed some of the steps taken by the current government, headed by President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, towards reconciliation.
  • It includes drafting a new Constitution and setting up systems to probe cases of disappearances.
  • All the same, the island’s northern Tamils await a political solution—something Mr. Ban and former President Mahinda Rajapaksa in 2009 acknowledged as being fundamental to ensuring long-term socioeconomic development.
  • It was after that meeting that Mr. Rajapaksa expressed his resolve to implement the 13th Amendment, which came out of the India-Sri Lanka accord of 1987 and created provincial councils.

:: INDIA AND WORLD ::

PRIME MINISTER NARENDRA MODI HEADS TO SOUTHEAST ASIA AND CHINA

  • Prime Minister Narendra Modi heads to Southeast Asia and China to participate in a series of bilateral and multilateral meetings.
  • The eastern outreach is important in view of the July 12 declaration of the Permanent Court of Arbitration challenging China’s territorial and maritime claims in the South China Sea region, the heart of Southeast Asia.
  • The outreach will begin on September 2 with Mr. Modi leaving for Vietnam before proceeding to Hangzhou in China for the G-20 summit.
  • The trip to Vietnam will highlight growing strategic convergence between the two sides, which includes the possibility of India transferring BrahMos missiles to Vietnam.
  • Parallel to security and strategic partnership, India and Vietnam are cultural partners and the bilateral agenda will include archaeological support to Vietnam to safeguard the Cham temples of the country.
  • Vietnam is a significant partner of India as it is the country-coordinator of India in ASEAN. The Prime Ministerial delegation will then move to Hangzhou in China which is the venue of the 2016 G 20 summit.
  • The delegation for G 20 will include Foreign Secretary S. Jaishankar and the Indian sherpa for G20, NITI Aayog Vice-Chairman Arvind Panagariya.
  • The Obama-Modi dialogue will be the first since both sides signed the landmark Logistics Exchange Memorandum of Agreement.
  • Mr. Modi will return to the region on September 7 to attend the 14th India-ASEAN summit and the 11th East Asian Summit which will be held in Vientiane, Lao PDR.

:: BUSINESS AND ECONOMY ::

CHIEF ECONOMIC ADVISOR SAYS INDIA WILL GROW BETWEEN 8-10%

  • Despite registering the slowest growth rate in the last six quarters in April-June period, India has the potential to sustain 8 to 10 per cent growth rate during the next two to three years, said Arvind Subramanian, Chief Economic Advisor.
  • If we continue to do all the things the government is doing and if world economy picks up a little bit as it did in 2000, then the growth rate would even clock double-digit in next two to three years.
  • “Where would this growth come from? China has been growing at 10.5 per cent for last 25 years. India, since mid-1970 or 1980, has been growing at 6 per cent, which is not bad.
  • Till 1980, we were growing at 3 per cent which is called Hindu rate of growth. After that we have grown at significantly higher rate. But, it is well below the growth rate of China.
  • According to the renowned economist, in the long run, the country’s economic development will depend its political stability.
  • For India, on the other hand, the process of normalisation is going to involve much faster growth because we are underperforming.
  • Dr. Subramanian batted for one price for one product in the market and expanding the scope of the direct benefit transfer model for achieving faster growth.

INDIAN MANUFACTURING ACTIVITY ROSE TO A 13-MONTH-HIGH

  • Indian manufacturing activity rose to a 13-month-high in August, driven by a pickup in both foreign and domestic demand, according to a private sector survey.
  • The Nikkei India Manufacturing Purchasing Managers’ Index came in at 52.6 in August, up from 51.8 in July.
  • A reading over 50 implies expansion, while one below 50 suggests a contraction.
  • Higher consumption in August, along with an expected increase over the next few months, is likely to bolster GDP growth in the next quarter, analysts said.
  • The expansion comes at a time when the first quarter of this financial year saw a 9.1 per cent growth in manufacturing.
  • Apart from this, new business inflows grew at their fastest pace since December 2014, according to the report.

:: IMPORTANT DETAILED NEWS ::

ASHOK CHAWLA APPOINTED CHANCELLOR OF TERI UNIVERSITY

The Energy and Resources Institute (TERI) officially appointed former Finance Secretary Ashok Chawla as the new Chancellor of TERI University.

The decision to appoint Chawla was taken in its meeting held on 19 August 2016 by the governing council of TERI.

With this, the University ended its last association with former Chancellor and Head R.K. Pachauri, who was accused of sexually harassing a female colleague in 2015.

Chawla has also been serving as the Chairman of Teri since February 2016.

About The Energy and Resources Institute

The Energy and Resources Institute was established in 1974.

It was formerly known as Tata Energy Research Institute.

It is a research institute based in New Delhi that conducts research work in the fields of energy, environment and sustainable development.

In 2013, the institute was ranked as the topmost global think-tank by the International Centre for Climate Governance (ICCG).

UNION CABINET APPROVES CREATION OF PDF TO CATALYSE INDIAN ECONOMIC PRESENCE IN CLMV COUNTRIES

Union Cabinet gave its approval to create a Project Development Fund (PDF) for catalysing Indian economic presence in the Cambodia, Laos, Myanmar and Vietnam (CLMV). The PDF will be created with a corpus of 500 Crore rupees.

CLMV countries have a unique position in the regional value chains and offer a gateway for market access to China/EU and other markets due to various trade agreements.

Key Highlights

• PDF will be housed in Department of Commerce.

• It will be operated through the EXIM Bank.

• It will be governed by an Inter-Ministerial Committee under the chairpersonship of the Commerce Secretary.

Advantage

• India will have the advantage in the regional value chain by securing a dedicated market for domestic raw materials and intermediate goods on a long term basis.

• This regional access will provide a dedicated market for Indian raw materials and intermediate goods besides a dedicated source for inputs and raw materials for Indian industry.

As per government, despite plenty of opportunities in the CLMV region, Indian businesses in these countries so far have been constricted due to limited information, infrastructure and other contingent risks.

Creation of the PDF will benefit India's industrial community for business expansion, and maintain cost competitive supply chains, besides integrating with global production networks.

MICHEL TEMER SWORN IN AS PRESIDENT OF BRAZIL

Michel Temer, Brazil's former Vice President, was sworn in as the President of Brazil. Temer is expected to stay in power until the next scheduled election in late 2018.

His appointment came following the removal of Dilma Rousseff from the office through the Senators' voting.

Senators voted 61-20 to convict Rousseff for illegally using money from state banks to boost public spending, an act seen as a leading factor behind the massive 60 billion US dollars deficit, the worst recession being faced by Brazil, leaving millions of people out of work.

Michel Temer's appointment as President of Brazil

Michel Temer, who served as Vice-President of Brazil, was appointed as the Interim President of the country following the suspension of Dilma Rousseff from the office in May 2016.

Under Brazil's constitution, the Vice-President takes over as the President on an interim basis if the president is suspended from office.

About Michel Temer

Temer is a discreet politician who seems always to be hovering around the centre of everything important, but never in the spotlight. But recently he has come out of the shadows by ending the Rousseff presidency and beginning a new era in Brazil.

His most notable achievement as a politician has been to help the Brazilian Democratic Movement Party (PMDB) in forming coalitions with every president in past two decades. He is currently the party president.

He presided over Brazil's lower house of Congress during the years of the Fernando Henrique Cardoso government (1995-2002), when Brazil underwent a liberal programme of privatisations.

KUDANKULAM PLANT UNIT-2 SYNCHRONISED WITH SOUTHERN POWER GRID

The second reactor of the Kudankulam Nuclear Power Project (KKNPP) was successfully synchronised to the Southern Power Grid situated at Abhishekapatti, Chennai. This marks the generation of electricity and its supply to the grid by the second reactor.

The Russian-designed VVER-1000 reactor of Kudankulam is now generating 245 MWe power to the southern grid from the second unit. Output from Kudankulam 2 is being divided between four states: Tamil Nadu, Karnataka, Kerala and Puducherry.

However, the unit will be shut down for a mandatory inspection of the turbine generator after a few days of operation. Generation of power will be raised to 250 MWe, 500 MWe, 750 MWe, 900 MWe and then 1000 MWe in stages.

At every stage, tests will verify the technical parameters mandated by the Atomic Energy Regulatory Board (AERB).

Timeline

• Construction of the Kudankulam units began in 2002.

• Kudankulam 1 achieved first criticality in mid-2013, was connected to the grid in October 2013 and entered commercial operation in December 2014.

• Construction of Kudankulam 2 was completed in July 2015, and it was loaded with its first fuel in May 2016.

• Following the completion of safety tests, Nuclear Power Corporation of India Ltd (NPCIL) began the process of approaching criticality on 8 July 2016 by diluting neutron-absorbing boric acid in the primary coolant water.

• A controlled self-sustaining nuclear fission chain reaction was attained on 10 July 2016.

Background
The Kudankulam units are India's first pressurized water reactors to enter operation and are the largest reactors in the country. The two Kudankulam units have been built by NPCIL and also commissioned and operated by NPCIL under IAEA safeguards, with supervision from Russian specialists.

The grid connection of Kudankulam 2 brings India's installed nuclear generating capacity to 6780 MWe. Kudankulam 2 is the second of two AES-92 VVER-1000 reactors supplied by Russia's Atomstroyexport under a Russian-financed contract.

Enriched uranium fuel for the entire life of the plant will supplied by Russia.

 

 

 

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