CURRENT AFFAIRS: 6th February 2018

1. Political turmoil in Maldives: – President Abdullah Yameen declared emergency in Maldives. It has been announced after the Supreme Court ordered immediate release of exiled former president Mohamed Naseed. The court also ordered to reinstate 12 MPs expelled earlier.
2. Battle between Orissa and West Bengal for geographical indication tag on “Rasagola”:- Chennai based Intellectual Property Organization had concluded that the syrupy sweet had its origin in West Bengal. A PIL has been filed in Orissa High Court to withdraw the tag from West Bengal.

Rasagola is offered as sweet to the Lord Jagannath GI registration takes place as per Geographical Indication of Goods (Registration and Protection) Act of 1999.

3. Indian Naval Sailing (INSV) Tarini:-all women crew to circumnavigate the globe is on its maiden voyage, led by Lieutenant Commander Vartika Joshi.

4. Global Agriculture Summit to take place in Jharkhand on the pattern of Momentum Jharkhand Investor Summit.

5.

BS-VI emission standards is scheduled to come into force from 1 April 2020 across the country

EDITORIAL

6. India’s title triumph in the under 19 cricket world Cup at Bay Oval in New Zealand. Captain Prithvi Shaw and Coach Rahul Dravis. Other Batsmsn are: Manjot Kalra and Subham Gill. Seamer Kamlesh Ngarkoti and Spinner Anukul Roy.

Altogether India has won four times including in 2000, 2008, and 2012. Virat Kohli had played in 2008 U-19 World Cup.

7. Long Term Capital Gain Tax (LTCG) on equities has been brought back through budget 2018-19. It was scrapped in 2004-05. 10% tax on gains over ₹1 lakh made on any forms of investment in listed equities and mutual funds with a holding period of over one year.

The Securities transaction Tax (STT) was introduced in place of LTCG tax in 2004. The original tax rate was set at 0.125% for a delivery-based equity transaction and 0.025% on an intra-day transaction. The rate was set at 0.017% on all Futures and Options transactions. STT was originally introduced in 2004 by the then Finance Minister, P. Chidambaram to stop tax avoidance of capital gains tax.

8. World Bank’s Ease of Doing Business 2018 ranking for India in 2017 was 100/190 countries. A jump over 30 points from 2016 rank of 130. Its ranking is on the 10 sub-indices which are:-

1. Starting a business
2. Dealing with construction permits
3. Getting electricity connections
4. Registering properties
5. Getting credit
6. Protecting minority investors
7. Paying taxes
8. Trading across borders
9. Enforcing contracts
10. Resolving insolvencies

Note:- enforcing contracts is directly dependent on a country’s ability to provide an effective dispute resolution system.

9. Indians are big consumers of dangerous Fixed dose Combination that are not approved by country’s regulator, Center Drug Standard Control Organization (CDSCO). FDCs are a blend of two or more drugs to maximize drug efficacy and can promote antibiotic resistance.

History

Rash Behari Bose, took to revolutionary ideas during Partition of Bengal in 2005. In, 1912 he was involved in assassination attempt of the Viceroy of India, Lord Hrdinge. He fled to Japan in 1915 and married to a bakery owner daughter Toshiko. He got citizenship of Japan in 1923 but continued his work for India cause.

10. India is importing fossil fuel from US in bilateral turnaround in relationships.

11. Amitabh Kant is the CEO of NITI Aayog.

12. US will upgrade its nuclear arsenal in lieu of Moscow building nuclear force.

13.  Revised estimate of Fiscal Deficit was 3.5% in 2017-18. Budget proposes Fiscal Deficit of 3.3% in 2018-19.

 

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