1. The Union Cabinet has approved setting up of Fund of Funds for Startups (FFS) under Small Industries Development Bank of India (SIDBI) for extending support to Startups. This 10,000 rupees corpus fund will be established in line with the Start up India Action Plan, an initiative of Department of Industrial Policy & Promotion (DIPP) which was unveiled by Union Government in January 2016. Key Facts The FFS will be used for the contribution of various Alternative Investment Funds (AIF) registered with Securities and Exchange Board of India (SEBI) to extend funding support to Startups. Allocation of Resources: It will be built up over the 14th (2015-2020) and 15th (2020-2025) Finance Commission cycle. However it will be subject to progress of the scheme and availability of funds. An amount of 500 crore rupees already has been provided to the corpus of FFS in the fiscal 2015-16 and 600 crore rupees has been earmarked in the fiscal 2016-17. Further provisions will be made as grant assistance through Gross Budgetary Support by DIPP which will monitor and review performance in line with the action plan. Execution and Monitoring: The day to day operations of the FFS will be managed by the expertise of SIDBI. The monitoring and review of performance of startups would be linked to the implementation of the action plan to enable execution as per timelines and milestones. Potential of FFS: The corpus fund can be the nucleus for catalyzing 60,000 crore rupees of equity investment and twice as much debt investment. It would provide a predictable and stable source of funding for the start-up enterprises and thereby facilitate large scale job creation. Comment The FFS will play an important role in accelerating innovation driven entrepreneurship and business creation through Start-ups which is crucial for large-scale employment generation in the country to tap the demographic dividend. The Fund of Funds operations will help to address the various challenges faced by start-ups such as limited availability of domestic risk capital, information asymmetry, constraints of conventional bank finance and lack of hand holding support from credible agencies. The Fund would also encourage greater participation of private capital and thus help leverage mobilization of larger resources to build highly scalable businesses from startups.
2. The Union Cabinet has given its approval for a special package for employment generation and promotion of exports in Textile and Apparel sector. Decision in this regard was taken by the Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi. Key Facts The package includes a slew of measures which are labour friendly and would promote economies of scale and boost exports and also employment generation. It will lead to a cumulative increase of US 30 billion dollars in exports and investment of 74,000 crores Rupees over next 3 years. The package will also play important role in generation of one crore jobs in the textile and apparel industry over next 3 years. The majority of new jobs are likely to go to women since the garment industry employs nearly 70% women workforce. Thus, this package will play an important role in the social transformation through women empowerment. Salient features of the package Employee Provident Fund (EPF) Scheme Reforms: Union Government will bear entire 12% EPF Scheme contribution of the new employees for first 3 years. Provided they should earn less than 15,000 rupees per month. In case employees earning less than Rs. 15,000 per month, EPF will be made optional. Union Ministry of Textiles will provide additional 3.67% of the employer’s contribution to EPF that will amount to Rs. 1,170 crores over next 3 years. Increasing overtime caps: In line with ILO (International Labour Organisation) norms, overtime hours for workers will not exceed 8 hours per week. It will increase earnings ofthe workers. Introduction of fixed term employment: Fixed term employment will be introduced as the garment sector is seasonal in nature. A fixed term workman will be considered in par with permanent workman in terms of wages, working hours, allowanced and other statutory dues. Additional incentives under ATUFS (Amended Technology Upgradation Fund Scheme (ATUFS): It will increase subsidy under Amended-TUFS from 15% to 25% for the garment sector as a boost to employment generation. The subsidy will be disbursed only after the expected jobs are created. Enhanced duty drawback coverage: Under this scheme, refund of the state levies which were not refunded so far will be undertaken. This move will greatly help to boost the competitiveness of Indian exports in foreign markets. Enhancing scope of Section 80JJAA of Income Tax Act: The provision of 240 days under Section 80JJAA of IT Act would be relaxed to 150 days for garment industry owing the seasonal nature of industry.
3. Every year 23 June is being observed as the United Nations Public Service Day by the United Nations (UN). Significance of the Day: The day seeks to mark the invaluable contributions of public servants and administrators to build a better world for all. This for the first time, the day is observed after the 2030 Agenda for Sustainable Development (i.e. Sustainable Development Goals) were adopted by all member states of United Nations. On this occasion, the UN will hold a Public Service Awards ceremony to reward the creative achievements and contributions of public service institutions worldwide. Background The United Nations Public Service Day was instituted by the United Nations General Assembly (UNGA) by passing resolution 57/277 on December 20, 2002. Since then it is observed to encourage member states to organize special events on that day to highlight the contribution of public service in the development process. This day was created to celebrate the value and virtue of public service to the community and also highlight the contribution of public service in the development process. It also seeks to recognize the work of public servants and encourage young people to pursue careers in the public sector.
4. The Union Cabinet under Chairmanship of Prime Minister Narendra Modi has approved mega auction of all available spectrum (more than 2300 Megahertz) across the seven bands. This decision will pave way for the largest-ever spectrum auction in the country and could potentially fetch the exchequer about 5.5 lakh crore ruppees going by the reserve price. Key Facts The airwaves in the seven spectrum bands to be auctioned are 700, 800, 900, 1800, 2100, 2300 and 2500 MHz. The auction of such a large quantity of spectrum will give a fillip for Digital India programme. It will also allow telecom operators to purchase spectrum at par with international holding values and end spectrum shortage. This auction for the first time will sell 700 MHz band which is preferred for offering high-speed broadband services. The 700 MHz band is approximately 70% cheaper than in the 2100 MHz band (used for 3G services). Thus help to increase internet penetration in the country.
5. The Union Cabinet has approved proposal of extending the deadline for implementing the Ujjwal Discom Assurance Yojana (UDAY) by a year to March 31, 2017. With this decision, states shall take over 75% of ailing DISCOM (Power Distribution companies) debt as on 30th September, 2015 by 31st March, 2017 by issuing Bonds. It is considered as a significant step in realising the vision of proving 24X7 affordable and environment friendly Power for All. This intervention will also lower the interest burden of debt and allow states, which could not join UDAY earlier to put DISCOMs reforms on accelerated path. About Ujjwal Discom Assurance Yojana (UDAY) The UDAY scheme aims at bringing ailing power discoms to a state of operational efficiency, with state governments taking over up to 75% of their respective debt and issuing sovereign bonds to pay back the lenders. It is the most comprehensive power sector reform ever undertaken. It shall conceive permanently resolve all DISCOM problems in the past, present and future. The scheme is for the operational and financial turnaround of DISCOMs, which are the weakest link in the power value chain. It provides a clear roadmap and opportunity to DISCOMs to become profitable till 2019. Power is a concurrent subject and requires the active participation of the States. Though, the scheme is optional, several States/Union Territories have joined or agreed to join it. Under this scheme the turnaround of DISCOMs will be made possible through (i) Improving operational efficiencies of DISCOMs, (ii) Reduction in the cost of power (iii) Enforcing financial discipline on DISCOMs through alignment with State finances. So far, 19 states have given in principle approval to join the scheme, out of which 10 states have signed MoUs with the Union Government.
6. Ken Miyauchi has been appointed as the President and Chief Operating Officer (COO) of the Japanese conglomerate SoftBank Group. He will succeed Nikesh Arora who had stepped down from his position after the Chairman and CEO of Group Masayoshi Son wanted to remain at the helm longer than first planned. Prior to this appointment, Ken Miyauchi was head of the SoftBank group’s Japanese telecommunications operations. He has been working with the SoftBank Group since October 1984. About SoftBank SoftBank Group is a Japanese multinational telecommunications and Internet corporation established in 1981 in Tokyo. It has operations in fixed-line telecommunications, broadband, Internet, e-commerce, technology services, media, finance and marketing, and other businesses. As of 2015, the group is the 62nd largest company in the world based on a composite of sales, assets, profit and market value.
7. The Union Cabinet has given its approval to the signing of a Protocol amending the Agreement between India and Belgium for avoidance of double taxation. Decision in this regard was taken in the Union Cabinet meeting under the chairmanship of Prime Minister Narendra Modi. Key Facts The amendment in the Protocol will broaden the scope of the existing framework of exchange of tax related information between the two countries. It also revises the scope of existing treaty provisions on mutual assistance in collection of taxes and further help to curb tax evasion and tax avoidance. The Protocol will also revise the existing treaty provisions on mutual assistance in collection of taxes.
8. The Union Cabinet has approved signing of a Memorandum of Understanding (MoU) with Steinbeis GmbH Co. KG, Germany for technology transfer and resourcing in manufacturing, including sub-sectors of Capital Goods. The MoU between India Steinbeis GmbH was signed in April, 2016 during the Industrial Exhibition Hannover Messe 2016 in Hannover, Germany. Steinbeis GmbH is leading German organization for applied industrial research in Europe. It will act as a Technology Resource Partner for implementing identified projects in manufacturing. The MoU envisages following field of cooperation Technology road mapping for specified Capital Goods sub-sectors. Cooperation in events on technology. Profiling of specific technologies. Upgrading existing technology institutes and setting up Greenfield institutes in India. Assessment of technology status of Capital Goods Cluster, Other technology related co-operation and collaboration. Comment The MoU is a framework instrument that seeks to facilitate industrial technology projects by Indian Capital Goods Sector. It will provide a platform to various public sector undertakings (PSUs) and Capital Goods Sector units to have easy access to expertise and capabilities of Steinbeis GmbH for identifying and plugging technology gaps.
9. World Hydrography Day (WHD) is being observed annually on 21 June to publicise the work of hydrographers and the importance of hydrography. The observance of the day emphasizes importance of hydrography particularly in protection of marine reserves and also promotion of safe navigation in international waters and ports. 2016 Theme: “Hydrography – the key to well-managed seas and waterways“. It seeks to highlight the fundamental importance of hydrography. It also seeks to boost our knowledge of the shape, nature and depth of the seafloor as a fundamental requirement for the safe, sustainable, proper and cost effective use of the world’s seas, oceans and waterways. Background The idea of observing World Hydrography Day was mooted by the International Hydrographic Organization (IHO) in 2005. It was officially instituted by the United Nations General Assembly (UNGA) by passing resolution A/RES/60/30 Oceans and the law of the sea in 2005. IHO: It was established as the International Hydrographic Bureau in 1921. It was used as a mechanism for consulting governments on matters of technical standards, protection of marine environment, safe navigation etc. Hydrography: It is the science of surveying and charting bodies of water, such as oceans, seas, lakes, and rivers.
10. The Indian Space Research Organisation (ISRO) successfully launched a record 20 satellites in a single mission from Satish Dhawan Space Centre in Sriharikota. These satellites including India’s latest earth observation satellite Cartosat-2 were launched using Polar Satellite Launch Vehicle (PSLV) C-34. With this successful launch, ISRO surpassed its previous record of placing 10 satellites into orbit in a single mission in 2008. Key facts The primary satellite in this mission was India’s latest earth observation satellite Cartosat-2. It was PSLV’s 35th continuous successful launch of its total 36th flight. Other 19 satellites were from countries US (13), Canada (2), Germany (1) and Indonesia (1). It also had two satellites from Chennai’s Sathyabama University and College of Engineering, Pune (COEP). Cartosat-2 Cartosat-2 satellite is similar to the earlier Cartosat-2, 2A and 2B. It will be placed a 505 km polar Sun Synchronous Orbit (SSO) It will be used for detailed mapping and other cartographic applications as well as applications in Land Information System (LIS) and Geographical Information System (GIS). The images sent by Cartosat-2 will be used for drawing maps, urban and rural applications, coastal land use and regulation, road network monitoring and water distribution. Other satellites launched LAPAN A3: It is Indonesian micro-satellite which will be used for earth’s magnetic field monitoring and surveillance purpose. BIROS: It is German satellite to be used for remote sensing of high temperature events. SKYSAT GEN 2-1: The micro-satellite developed by Google’s subsidiary company Terra Bella’s. It will be used for earth imaging. 12 Flock-2P Earth imaging satellites: These are earth imaging satellites from United States. M3MSAT (Maritime Monitoring and Messaging Microsatellite): It is Canadian micro-satellite that will be used for study and collection of automatic identification system signals from low earth orbit. GHGSat-D: It is Canadian earth observation satellite. It will be used for measuring the atmospheric concentration of greenhouse gases (GHGs) especially Carbon Dioxide (CO2) and Methane (CH4). Sathyabamasat: The satellite has been designed and built by Chennai based Sathyabama University. The satellite aims to collect data on greenhouse gases (GHGs). Swayam: It has been designed and built by College of Engineering, Pune (COEP). It will be used to provide point to point messaging services to the HAM (amateur radio) community. Comment The mission was historic double record for the ISRO’s workhorse PSLV C34. It has inserted a record number of 20 satellites into space and also has proved to be reliable for double ignition while in space to take multiple satellites into different orbital heights in a single mission. Thus, PSLV in its category proves to be one of the most sophisticated and highly versatile launch vehicles in the world in its class.
11. Union Government has asked all state governments to link Aadhaar with caste and domicile certificates to be issued to school students. It is the first-of-its-kind initiative to be undertaken by Union Government to issue these certificates to the students within 60 days when they are studying in Class V or VIII. Key facts Union Government is seeking support of state governments to link Aadhaar with caste and domicile certificates to curb harassment faced by citizens to obtain these certificates. It will also help to timely grant of scholarship to students belonging to the Scheduled Castes (SCs) and Scheduled Tribes (STs) without any delays. State government may also try to get the information of students if feasible to fed it into the meta data to be made online that may be further linked to Aadhaar enabled data. Why caste or tribe or domicile certificates are issued? The responsibility for issuance of residency (domicile) and caste certificates rests with the States and Union territories. These certificates are issued to facilitate access of bona-fide to candidates belonging to the SC/ST categories to the reserved posts and services under the Central and State governments. They also serve important document to secure admission in educational institutions and get other facilities. About Aadhaar Aadhaar is a 12-digit number which acts as a proof of identity and address anywhere in the country. It is considered as the world’s largest national identification project. Its objective is to collect the biometric and demographic data of residents, store them in a centralised database. The Aadhaar number is issued by the Unique Identification Authority of India (UIDAI).
12. The Indian Space Research Organisation (ISRO) is going to test indigenously developed scramjet engine technology based on air-breathing propulsion in July 2016. The test will be conducted on test platform named Advanced Technology Vehicle (ATV) from the Satish Dhawan Space Centre at Sriharikota. Key Facts The test platform ATV will comprise a scramjet engine hitched to a two-stage sounding rocket (RH- 560). The vehicle has been characterised and being fabricated at the VSSC (Vikram Sarabhai Space Center) and the ISRO Propulsion Complex, Mahendragiri. The air-breathing engine of ATV will be released at a height of 70 km and ignited at hypersonic speed during the coasting phase. Apart from the hypersonic ignition at Mach 6, ATV’s capability to sustain the combustion for 5 seconds will be also tested. The test is expected to help ISRO to achieve good thrust value with the scramjet engine as maintaining combustion in hypersonic conditions poses technical challenges. Comment This test will be further advance stage of the successful test of the first indigenous Reusable Launch Vehicle-Technology Demonstrator (RLV-TD) conducted in May 2016. The post-flight analysis of RLV-TD test flight had shown encouraging results that had helped ISRO to understand the hypersonic aerothermodynamics of the delta winged body.
13. Maharashtra Government has accorded minority status to Jews in the state as per the provisions of the Maharashtra State Minorities Commission Act, 2004. Decision in this regard was taken at the state cabinet meeting chaired by Chief Minister Devendra Fadnavis in Mumbai. With this, Maharashtra becomes second state in the country to accord minority status to Jews after West Bengal. Key Facts As per the 2001 population census, there are 4,650 Jews in the country of whom 2,466 are based in Maharashtra. With minority status, the Jews in the state can be counted independently as a religious minority along with Muslims, Christians, Buddhists, Sikhs, Parsis and Jains. The status will now make the community eligible to avail various development schemes that the state launches for the minority community. The community will now get benefits of merit-cum-means scholarship, post-matric scholarship, pre-matric scholarship, coaching and allied schemes and multi-sectoral development programme that the government runs for minorities. Educational institutes run by Jews now will be eligible to get benefit of minority status including reserving seats for members of their own community. The Maharashtra State Minorities Commission Act, 2004 empowers the state government to declare a community minority. Earlier in October 2006, the state government had declared Christians, Sikhs, Muslims, Buddhists, Jains and Parsees religious minorities.
14. As per the recently released 2016 World Investment Report, India ranks 10th in FDI (Foreign Direct Investment) inflows. As per the report, India’s FDI inflows have increased to 44 billion dollars in 2015 as compared to 35 billion dollars in 2014. Key highlights of the report Top 10 Countries are: United States, Hong Kong, China, Ireland, Netherlands, Switzerland, Singapore, Brazil, Canada and India. United States with 380 billion dollars FDI inflows has topped the list. China with FDI inflows at 136 billion dollars (more than three times India’s FDI) in 2015 was ranked third. Globally, the FDI activity has increased by 38%,signalling revival in investment sentiments is on the cards. In terms of FDI outflows, there has been a decline in most developing and transition regions. However, in this case China is one of the exceptions. Striking the right balance between regulation and liberalization to promote investment for sustainable development is also highlighted. Liberalization measures have been applied by eliminating or relaxing entry requirements in financial services, aviation, mining and real estate. Restrictions, on the other hand, have been imposed on the national security and related reasons.
15. The Inland Waterways Authority of India (IWAI) and India Ports Global Private Limited (IPGPL) have signed a MoU for implementation of additional works on the Kaladan Multimodal Transit Transport Project (KMTTP) in Myanmar. As part of the MoU, both signatory parties will be implementing three additional works on the KMTTP at the estimated to cost 476 crore rupees. These three projects are Container handling facilities at Paletwa and Sittwe. Operation and Maintenance (OM) of the completed works. Removing wrecks in Sittwe Port basin area. Kaladan Multimodal Transit Transport Project (KMTTP) The KMTTP in Myanmar was conceptualized and is being administered by the Union Ministry of External Affairs (MEA). The ambitious project seeks to facilitate connectivity between the mainland India and the landlocked North Eastern States through maritime shipping, inland waterways and roads of Myanmar. The link between landlocked north eastern states and Myanmar will pave the way for (i) enhanced trade and commerce across the border. (ii) Enable cultural and social integration at the regional level. The MEA had appointed IWAI as the Project Development Consultant (PDC) for the implementation of the Port and Inland Water Transport (IWT) component of the KMTTP. India Ports Global Private Limited (IPGPL) The IPGPL has been established as a Joint Venture between Jawaharlal Nehru Port Trust and Kandla Port Trust for the purpose of development of ports overseas.
16. Noted Telangana poet and lyricist Guda Anjaiah passed away following a brief illness at Ragannagudem, Telangana. He was 61. He played a key role in Telangana statehood movement by penning several songs which later found their way into films.
17. Kannada Movie Thithi has won two awards viz. Best Film and Best Script Writers at the 19th Shanghai International Film Festival. It has won the awards under the Asia New Talent Awards Category
18. Leading member of the populist anti-corruption Five Star Movement (M5S) of Italy, Virginia Raggi (38) was elected as first female mayor of capital city Rome. She also becomes the 65th and youngest mayor in Rome’s history and also the first candidate from M5S party to get elected to Mayor of Rome.
19. Every year 21 June is being observed as International Day of Yoga (अंतर्राष्ट्रीय योग दिवस) across the globe to spread awareness about practicing yoga. 2016 Theme: “Connect the Youth”. The year 2016 it is second edition of the International Day of Yoga. This year’s observance seeks to highlight the important role healthy living plays in the realization of the Sustainable Development Goals (SDGs) which were adopted by all 193 UN member states in 2015. To mark the day, several events were organised across the world to highlight the importance of Yoga. In India, Union Government had organised National Event of Mass Yoga Demonstration at the Capitol Complex in Chandigarh. In this event Prime Minister Narendra Modi himself had performed yoga. Background The idea of celebrating the International Yoga Day was pitched by Prime Minister Narendra Modi at the United Nations General Assembly (UNGA) in September 2014. In December 2014, UNGA had unanimously adopted India-led resolution to observe 21st June as ‘International Day of Yoga’. This resolution was adopted under the agenda of ‘Global Health and Foreign Policy’. 21st June was selected because it represents summer solstice (one of the two solstices) and it is the longest day in the Northern Hemisphere which has special significance in many parts of the world. About Yoga Yoga is a physical, mental or spiritual practice attributed mostly to India. The word ‘yoga’ derives from Sanskrit language which means to unite or to join, symbolizing the union of body and consciousness. Maharishi Patanjali is considered as the ‘father of Yoga’. He had compiled 195 Yoga Sutras which had become the foundation of Yoga philosophy. The commentary on these sutras is called Bhasya and the core essence of Patanjali’s yoga philosophy is the eightfold path of Yoga (Ashtanga Yoga) that focusses upon healthy living through Yoga. It has been attributed that Yoga balances body and soul, mental and physical well-being. It promotes harmony among people and between ourselves and the natural world.
20. The 2016 edition of Top500 list of supercomputers has revealed that China’s Sunway TaihuLight supercomputer is the world’s most powerful supercomputer system Sunway-TaihuLight can perform calculations with processing speed of 124.5 petaflops per second (Pflops). It is world’s first system to surpass 100 petaflops. This supercomputer has displaced Tianhe-2, an Intel-based Chinese supercomputer that has claimed the top spot on the past six Top500 lists. About Sunway TaihuLight Sunway TaihuLight supercomputer has been developed by the China’s National Research Centre of Parallel Computer Engineering and Technology (NRCPC). It has been built entirely using processors designed and made in China. It can perform 93 quadrillions calculations per second. It is intended for use in research and engineering including climate, weather, life sciences, advanced manufacturing and data analytics. Note: One petaflop is equal to one quadrillion sustained floating point operations per second. Other supercomputers in Top500 list Second position: An Intel-based Chinese Tianhe-2 supercomputer which can perform calculations with processing speed of 33.86 Pflops. Third position: Supercomputer Titan of the US Department of Energy. It has a performance of 17.59 Pflops. Fourth position: Supercomputer It is an IBM BlueGene/Q system installed at DOE’s Lawrence Livermore National Laboratory. Fifth position: Supercomputer Fujitsu’s K computer. It has been installed at the RIKEN Advanced Institute for Computational Science (AICS) in Japan. Top Countries in the list: China (1st position) with 167 super computer systems, US (2nd position) with 165 systems, Japan (3rd position), Germany (4th position) with 26 systems, France (5th position) with 18 systems, Britain (6th position) with 12 systems. The Top500 list: It is one of the most authoritative and prestigious rankings list of the world’s supercomputers. The list is compiled on the basis of the performance of supercomputers by experts from the US and Germany based on the Linpack benchmark.
22. The Union Government has banned use of potassium bromate (KbrO3) as a food additive as it is carcinogenic. Decision in this regard was taken by Union Health Ministry based on the recommendation of Food Safety and Standards Authority of India (FSSAI). FSSAI had recommended the Health Ministry to remove potassium bromate from the list of permissible food additives after a study by the Centre for Science and Environment (CSE) found out that it is widely prevalent in bread and refined flour Background The study of CSE had found that 84% of 38 commonly available brands of pre-packaged breads, including buns and pav tested positive for potassium bromate and potassium iodate. These two food additives are banned in many countries and listed as hazardous for public health. However, FSSAI has banned use of potassium bromate and not potassium iodate. But as far as potassium iodate is concerned, it has been referred to a scientific panel. How and Why Potassium bromate is used? Potassium bromate is used as chemical additive in food items in the form of white crystals or powder. It is added to aid baking process as it strengthens the bread dough in order to raise it higher. The KbrO3 powder bleaches the bread dough and increases its elasticity by making tiny bubbles that help the bread rise. In India, the legal permissible limit to add Potassium bromate as chemical additive in food is 50 parts per million (ppm). But, high dosages of it are harmful. How it is harmful? A study conducted in Japan in 1982 has found that potassium bromate causes cancer. Following this, many countries including Japan, China, Australia and UK etc. have banned it. Some studies also have showed that potassium bromate is a “genotoxic carcinogen” i.e. a chemical agent that can damage genetic information, causing mutations.
23. India and Thailand have signed two agreements in culture and educational sectors to boost bilateral ties. The agreements were signed in New Delhi during the three day official state visit of Thailand Prime Minister General Prayut Chan-o-cha to Indian. Signed agreements are Memorandum of Understanding (MoU) between India’s Nagaland University and Thailand’s Chiang Mai University. Agreement for to extension of the Cultural Exchange Programme (CEP) between both countries for 2016-19. Besides, both Prime Ministers held wide-ranging talks on a wide range of bilateral, regional and multilateral issues that are of concern for both the countries and the region as a whole. Both countries also issued a joint statement to ramp up cooperation in the fields of economy, cyber security, counter terrorism and human trafficking besides forging closer ties in maritime security and defence.
24. The Expert Committee that was constituted to examine the Specific Relief Act, 1963 has submitted its report to Union Law and Justice Minister D. Sadananda Gowda. The committee has suggested recommendations for modifications in the decades old law to ensure the ease of doing business in the country. The recommendations have been made in the context of the various developments which have taken place since enactment of law in 1963. It also has taken into consideration of present changed scenario involving public private partnerships (PPP), contract-based infrastructure developments and other public projects, involving huge investments. Key Recommendations Making changes in the present provisions of the Act so that specific performance is granted as a general rule. Suggested recommendations over the issue to grant compensation or damages for non-performance remained as an exception. Provide guidelines for reducing the discretion granted to tribunals and courts while granting performance and injunctive reliefs. Introduce provisions for rights of third parties (other than for contracts of Government) and consider addressing unfair contracts, unconscionable contracts, reciprocity in contracts etc. Need to classify diverse public utility contracts as a distinct class by recognising the inherent public interest and the importance to be addressed in the parent Act. Smooth functioning of Public works projects can be effectively managed through a monitoring system and regulatory mechanism. Any public work must progress without interruption. The role of courts in this exercise is to interfere to the minimum extent so that projects of public works will not be stalled or impeded.
25. The Union Government has eased foreign direct investment (FDI) norms for nine sectors to give impetus to job creation and ease of doing business in the country. Decision in this regard was taken at a high-level meeting chaired by Prime Minister Narendra Modi. With these changes, India becomes most open economy in the world for FDI. Some of these sectors are Food products: In this sector, 100% FDI under government approval route has been approved. It will include trading in food products including through e-commerce, in respect of food products manufactured or produced in India. Defence Sector: Present FDI regime in this sector permits 49% FDI participation in the equity of a company under automatic route. Now, FDI beyond 49% has now been permitted through government approval route, in cases resulting in access to modern technology in the country or for other reasons. FDI limit also has been made applicable to Manufacturing of Small Arms and Ammunitions covered under Arms Act, 1959. Pharmaceutical Sector: In this sector, 100% FDI under automatic route in greenfield pharma has been approved. FDI up to 100% under government approval in brownfield pharma also has been approved. Aviation Sector: 100% FDI under automatic route in Greenfield and Brownfield Airport Projects to aid in modernization of the existing airports to establish a high standard. Animal Husbandry: 100% FDI allowed in Animal Husbandry (including breeding of dogs), Aquaculture, Pisciculture and Apiculture under Automatic Route without requirement of controlled conditions. Single Brand Retail Trading: Entities undertaking single brand retail trading have been relaxed from local sourcing norms up to 3 years. Entities engaged in of single brand retail trading of products having ‘state-of-art’ and ‘cutting edge’ technology have been relaxed from local sourcing norms up to 5 years. Comment With these liberalised changes in FDI Policy, Union government has permitted 100% FDI under government approval route for almost every sector, including defence except in few sectors mentioned in the small negative list. In this list, FDI continues to be prohibited in atomic energy, lottery, gambling, real estate and Real Estate Investments Trusts (REIT) and railways operations. Background Since 2014, Union Government has brought major FDI policy reforms in a number of sectors, including Insurance, Pension Sector, Defence, Construction Development and Broadcasting etc. Measures undertaken by the Union Government have resulted in increased FDI inflows at 55.46 billion dollars in the financial year 2015-16. This was the highest ever FDI inflow in India for a particular financial year.
26. Every year June 20 is observed as World Refugee Day to raise awareness of the situation of refugees throughout the world. The observance of the day seeks to draw attention to the plight of refugees and also to celebrate their courage and resilience and renew commitment to solve refugee problems. On this day, United Nations Refugee Agency (UNRA) also known as United Nations High Commissioner for Refugees (UNHCR) hosts various events and announces a theme for its campaign. With this UNRA seeks to draw the public’s attention to the millions of refugees and internally displaced persons worldwide who have fled their homes forcefully due to war, conflict and persecution. Background United Nations General Assembly (UNGA) had proclaimed 20 June as World Refugee Day by passing a Resolution 55/76 on 4 December 2000. The resolution was passed to mark 50th anniversary of the 1951 Convention relating to the Status of Refugees. Since then it is observed annually with different themes. Prior to passing of this resolution in 2000, African Refugee Day was formally celebrated on 20 June in several countries especially by Organization of African Unity (OAU) member states.
27. The Indian mixed recurve team of Deepika Kumari and Atanu Das has won the silver medal at the Archery World Cup held in Antalya, Turkey.
28. Prime Minister Narendra Modi along with Sri Lankan President Maithripala Sirisena inaugurated Duraiappah Stadium in Jaffna which was renovated by India. Sri Lankan President Sirisena was present at the stadium in Jaffna while PM Narendra Modi joined the event through video-conferencing from New Delhi. Key facts The newly renovated Duraiappah Stadium has been named in honour of a former Mayor of Jaffna late Alfred Thambirajah Duraiappah. The stadium was not in use since 1997 as it was damaged and neglected during the course of the various phases of the Sri Lankan civil war. Indian government has renovated the stadium at a cost of over 7 crore rupees which has seating capacity of 1,850. It will provide the necessary infrastructure to promote sports and recreational activities. It will play pivotal role in the overall development of the youth of the war-ravaged Northern Province of Sri Lanka.
29. The Union Ministry of Power has launched ‘URJA’- Urban Jyoti Abhiyaan Mobile application for Urban Power Distribution Sector. It was launched by Union Power minister Piyush Goyal on the side-lines of two day conference of Power Ministers at Cansaulim in South Goa. Key Facts The mobile app has been developed by Power Finance Corporation (PFC) on behalf of Union Ministry of Power. The aim of the app is to enhance consumer connect with the Urban Power Distribution sector by providing information of IT enabled towns. The app will work as manifestation of Prime Minister Narendra Modi’s principle of good governance i.e. People focus, co-operative federalism. The app allows users to get information of performance of their town, State level DISCOMs on different parameters including their ranking, pending consumer complaints. It also will provide information on average percentage of consumers making e-Payments, power cuts as well as power loss or theft. The app will also give information on various schemes and initiatives undertaken by the Union Government to improve the power supply.
30. Australia has won the 2016 Champions Trophy title of Hockey by defeating India by 3-1 score. With this victory, Australia created history by winning the title for record 14 times. In the final match played at London (United Kingdom), both teams in regulation period failed to score goals. However in the penalty shootout Australia managed to defeated India by scoring 3 goals to 1 goal. For Australia, in penalty shootout goals were scored by Aran Zalewski, Daniel Beale and Simon Orchard. For India, the single goal was scored by Harmanpreet Singh. With this defeat India settled for the silver medal. About Champions Trophy Hockey Title The title is an international field hockey tournament organized by the International Hockey Federation. It was established in 1978 by Pakistan’s Air Marshal Nur Khan and the Pakistan Hockey Federation. Earlier, the tournament was organized annually, but since 2014 it has become a biennial event, due to the introduction of the Hockey World League. This tournament features the world’s top-ranked field hockey teams competing in a round robin format. In the men’s tournament, the Australians have won the trophy 14 times followed Germany 10 times and the Netherlands 8 times, Pakistan 3 times.
31. The Union Railway Ministry has launched two policies related to Parcel Cargo Train Express and Parcel Leasing. They were launched by Union Railway Minister Suresh Prabhu. They are Liberalised Comprehensive Parcel Leasing Policy (CPLP) and Liberalised policy on Parcel Cargo Express Trains (PCET). These policies were launched as part of 2016-17 Rail Budget announcements to make the policies related to Parcel Leasing and Parcel Cargo Express more liberalized and customer friendly. Key Facts Liberalised Comprehensive Parcel Leasing Policy (CPLP): Under it the duration of parcel leasing scheme has been increased to 5 years from 3 years. It seeks to insulate parcel from budgetary hike by providing assured leased rates with fixed escalation at 10 per cent from 4th year. It also opts for realistic assessment of bids and delegates powers to Zonal railways to fix the reserve price downwardly. Liberalised policy on Parcel Cargo Express Trains (PCET): Under it duration of contract has been increased to 6 years from 3 years. In order to insulate PCET from budgetary hike it provides for assured leased rates with fixed escalation at 10% from fourth year. It also opts for realistic assessment of bids. The minimum composition of PCET has been reduced to 15 vans for first 6 months of the contract period in order to give time to the leaseholder in the initial stage to develop business. Besides, Railway Minister also flagged off an inaugural time-tabled container train named ‘Cargo Express’ between Domestic Container Terminal (Okhla) and Whitefield (Bengaluru). He also launched an integrated social media platform (Facebook and Twitter) for redressal of grievances of railway passengers.
32. The Indian Air Force (IAF) created history by inducting 3 women fighter pilots for first time. These three women fighter pilots are Bhawana Kanth, Avani Chatuvedi and Mohana Singh. They were officially commissioned as fighter pilots in the IAF in presence of Union Defence Minister Manohar Parrikar at a ceremony held at Air Force Academy, Dundigal, Hyderabad. Key Facts Avani Chaturvedi: She was born in Satna district of Madhya Pradesh. She had completed her schooling from Adarsh School in Rewa and BTech in Computer Science (CS) from Banasthali University, Jaipur. Bhawana Kanth: She was born in the refinery township of Begusarai, Bihar. She had completed her schooling from Barauni Refinery DAV Public School and BE in Medical Electronics from BMS College of Engineering, Bengaluru. Mohana Singh: She belongs to Jhunjhunu district in Rajasthan. She had completed her schooling from Air Force School, New Delhi and BTech in Electronics & Communication from Global Institute of Management and Emerging Technologies, Amritsar. Background In October 2015, the Union Government had decided to open the fighter stream for women on an experimental basis for five years. These three women fighter pilots were inducted in IAF after all of them cleared the first stage of training in the three stages process. Now they have about 150 hours of flying. Now in the second stage, they will begin advanced training on advanced jet trainer Hawks at Bidar in Karnataka. It will add 145 hours of flying before they actually get into the cockpit of a supersonic fighter in the third stage. Comment Women pilots were first included in IAF for choppers and transport aircrafts in 1991. At present, combat roles for women in the Indian Army and the Indian Navy are still off limits due to a combination of operational concerns and logistical constraints.
33. India and South Korea have launched a platform ‘Korea Plus’ to promote and facilitate Korean Investments in India. It was launched by the Union Commerce and Industry Minister Nirmala Sitharaman and her South Korean counterpart Joo Hyunghwan in New Delhi. Key Facts The mandate of Korea Plus platform covers the entire investment spectrum including supporting Korean enterprises entering the Indian market for the first time. It will be also looking into issues faced by Korean companies doing business in India and policy advocacy to the Indian Government on their behalf. It shall comprise a representative each from the South Korean Ministry of Industry, Trade and Energy (MoITE) and Korea Trade Investment and Promotion Agency (KOTRA). Besides, it also includes three officials from Invest India. Background A Memorandum of Understanding (MoU) for establishing Korea Plus was signed between two countries in January 2016. The MoU was an outcome of the official state visit of Indian Prime Minister Narendra Modi to South Korea in May 2015.
34. The Union Home Ministry has notified official gazette notification for establishing 10 coastal police stations located along India’s coastline in 9 States and 4 UTs. These police stations have been empowered to register and investigate crimes committed within the country’s exclusive economic zone (EEZ). Their establishment will end the ambiguity over territorial jurisdiction in the wake of Italian marines case. These 10 coastal police stations are: Yellow Gate PS (Maharashtra and Daman and Diu), Navibandar coastal PS (Gujarat), Mangalore coastal security PS (Karnataka), Harbour coastal security PS (Goa), B5 Harbour PS (Tamil Nadu and Puducherry), Fort Kochi coastal PS (Kerala and Lakshadweep), Paradeep marine PS (Odisha), Gilakaladindi PS in Machilipatnam (Andhra Pradesh), Central Crimes Station, Port Blair (Andaman and Nicobar Islands) and Nayachar coastal PS (West Bengal). The extension of jurisdictional limits will allow local police to effectively deal with cases of terrorism and smuggling and further help guarding 7516-km long coastline of India. Background India has a 7,517-km coastline and has 12 major ports and 187 minor or intermediate ports. India’s territorial waters end at 12 nautical miles while the EEZ stretches to 200 nautical miles from the coast. Legal Terminology Exclusive Economic Zone (EEZ): It includes the contiguous zone, stretching to 200 nautical miles from the coast. Continental shelf: It is the seabed up to 350 nautical miles from the coastal baseline, beyond the EEZ were countries also have rights. But such areas are not part of their EEZ. However, the legal definition of the continental shelf does not directly correspond to the geological meaning of the term. It also includes the continental rise and slope, and the entire seabed within the EEZ.
35. Prime Minister Narendra Modi has outline RAPID, five-point mantra to tax officials to reform and broaden the direct tax net base. The new five point charter for tax administrators RAPID means R for Revenue, A for Accountability, P for Probity, I for Information and D for Digitization. It was announced while inaugurating Rajasva Gyan Sangam, a two-day Annual Conference of Senior Tax Administrators in New Delhi. Key Facts The five point charter seeks to bring reform to country’s age old and redundant revenue administration, which still has a huge hangover of the British colonial legacy. It also seeks to make the tax system easier and accessible for the tax payers at the same time make it difficult to the defaulters who bend the system. It takes into consideration the need of the hour i.e. introduction economic reforms in the revenue sector for enhancing respect for the law of the land amongst common citizens. It also indirectly inches towards lessening the burden of so-called ‘tax payment’ which is deeply ingrained in our ossified edifice of the tax administration. Rajasva Gyan Sangam It is a national platform that seeks to assess the performance of the year gone by and to deliberate on emerging issues without any hierarchical barriers. During the conference, PM Modi also motivated the revenue officers towards achieving high standards in taxpayer friendly service in view of fast paced changes in the world economy. He also asked the senior tax officials to widen the tax payers base from the existing 5.4 crore to 10 crore households.
36. US President Barack Obama has nominated an Indian-origin diplomat Kamala Shirin Lakhdhir as the next US ambassador to Malaysia.Her Her nomination is yet to be confirmed by the Senate. She would replace Joseph Y Yun as the next US ambassador to Malaysia.
37. India and Namibia have signed two Memorandums of Understanding (MoUs) during the final leg of President Pranab Mukherjee’s three-nation African visit. These agreements were signed after a bilateral dialogue between President Mukherjee and his Namibian counterpart Hage Geingob. The two signed MoUs include MoU on Capacity building for civil servants of Namibia. Mou on setting up of centre of excellence in Information and Communication Technology (ICT). Civil Nuclear Deal Later in the delegation level talks, Namibia has invited Indian companies to directly mine Uranium from the country. However, it has asked India to enter into similar nuclear agreements it has reached with other countries in order to convince the member-states of the African Nuclear Weapon Free Zone Treaty (ANWFZT) which is also known as Pelindaba treaty. Comment The Pelindaba treaty prohibits Namibia, fourth largest producer of uranium to implement nuclear agreement with India as it not the signatory of Nuclear Non Proliferation treaty (NPT). India and Namibia had signed an agreement on nuclear energy i.e. deal to supply Uranium for civil use in 2009.
38. The Union Government has approved Ramayana and Krishna Circuits under Swadesh Darshan Scheme of the Union Ministry of Tourism. These two tourism circuits were approved in the first meeting of National Committee on Ramayan Circuit and National Committee on Krishna Circuit chaired by Union Tourism and Culture Minister Mahesh Sharma. Key facts Ramayana Circuit: Under it 11 tourist destinations spread across 6 states have been proposed. The covered destinations are: Uttar Pradesh: Ayodhya, Shringhverpur Nandigram and Chitrakoot (ii) Bihar: Sitamarhi, Buxar and Darbhanga (iii) Telangana: Bhadrachalam (iv) Chattisgarh: Jagdalpur (v) Karnataka: Hampi (vi) Tamil Nadu: Besides expert committee has suggested to include Chitrakoot (Madhya Pradesh), Mahendragiri (Odisha), Nagpur and Nashik (Maharashtra) in the proposed circuit. Krishna Circuit: Under it 12 destinations spread across 5 states have been proposed. The destinations covered are: (i) Gujarat: Dwarka (ii) Rajasthan: Nathdwara, Jaipur and Sikar (iii) Uttar Pradesh: Mathura, Vrindavan, Barsana, Gokul, Nandgaon and Govardhan (iv) Odisha: About Swadesh Darshan Scheme The Union Ministry of Tourism had launched the Swadesh Darshan Scheme in 2014-15 with an aim to develop theme based tourist circuits in the country. These tourist circuits will be developed on the principles of high tourist value, competitiveness and sustainability in an integrated manner. They will be developed by synergizing efforts to focus on concerns and needs of all stakeholders to enrich tourist experience and enhance employment opportunities. Under this scheme, 13 thematic circuits have been identified for development. They are Buddhist Circuit, North-East India Circuit, Coastal Circuit, Himalayan Circuit, Krishna Circuit, Desert Circuit, Eco Circuit, Wildlife Circuit, Tribal Circuit, Rural Circuit, Spiritual Circuit, Ramayana Circuit and Heritage Circuit.