Followers

May 7, 2016

[CA] Important Points @ Glance: Part 4

Important Points @ Glance: Part 4

·       The Supreme Court has banned diesel taxis from operating in the national capital. Earlier in December last year, SC had directed that all diesel taxis be converted to CNG by March 1. The deadline was later extended to March 31 and then again to April 30.

·       India’s first new conventional submarine in 16 years, Kalvari, has finally begun its sea trials off Mumbai, giving much-needed fillip to the Navy. Kalvari is Indian Navy’s first indigenous Scorpene-class stealth submarine. Kalvari is the first of the India’s six Scorpene-class submarines being built under the much-delayed Project 75. The vessels are being built by Mazagon Dock Limited (MDL) in collaboration with French company DCNS.

·       Union Urban Development Minister Mr. Venkaiah Naidu recently flagged-off the much awaited East-West corridor of Bangalore Metro Rail Corporation Limited (BMRCL) – South India’s first underground metro.

·       The government has approved proposal of Infosys to set up an IT/ITeS special economic zone in Bengaluru in an area spread over 4 hectares. The decision was taken by an inter-ministerial Board of Approval (BoA) recently.

·       To make easier doing business in India, the government has announced revocation of the earlier requirement of landing certificates to be submitted by exporters under the Merchandise Export from India Scheme (MEIS). The government has also decided to extend the market coverage to all countries. Aimed to incentivise merchandise exports, MEIS was introduced in the Foreign Trade Policy (FTP) 2015-20, approved in April last year. The current trade policy has merged all the earlier export promotion projects under two plans – MEIS and the Served from India scheme (SFIS) – for services exporters. Landing certificate is the proof of landing of the consignment in the designated market.



·       NASSCOM (National Association of Software and Services Companies) has inked a partnership agreement with social networking site Facebook to build a ‘product design initiative’ in the country. This nation-wide initiative by NASSCOM is aimed at offering focused programmes to build awareness around product design, training on design tools, design lab, awards, design sprints and mentorship. This will be a flagship programme of the NASSCOM Product Council. This will aim at supporting over 500 product start-ups on product design. It will also focus on training over 5,000 product designers in the next two years.

·       Gravitational wave scientists have won $3m Special Breakthrough Prize in Fundamental Physics. It will be shared among the founders of the Laser Interferometer Gravitational-Wave Observatory (LIGO) group, Kip Thorne, Rainer Weiss, and Ronald Drever, and scores of physicists and engineers on the team. The three founders will divide $1m between them, with the remaining $2m (£1.35m) shared equally among the 1,012 other researchers and engineers on the LIGO team.

·       Reliance Power has won an in-principle approval of the Bangladesh government for the first phase of the 3,000 megawatt LNG-based power plant. This will be the largest foreign direct investment in Bangladesh with a potential investment of over US$1.3 billion. This project can power the country’s rising demand for electricity and will provide clean and green power contributing to the Bangladesh’s goal of energy security.

·       Rajya Sabha Chairman Hamid Ansari has accepted the resignation of Independent member Vijay Mallya. A Member of Rajya Sabha who intends to resign has to intimate in writing under his hand addressed to the Chairman, his intention to resign his seat in the Council. Also, as per Rule 213 of Rajya Sabha procedures, the resignation submitted by a member must be voluntary and genuine.


·       The Union Cabinet chaired by the Prime Minister Mr. Narendra Modi has given its ex-post facto approval for the Memorandum of Understanding (MoU) signed in February, 2016 between Reserve Bank of India (RBI) and Central Bank of United Arab Emirates (UAE) on co-operation concerning currency swap agreement. The MoU commits that RBI and Central Bank of UAE will consider signing a bilateral Currency Swap Agreement on mutually agreed terms and conditions, after undertaking technical deliberations, subject to the concurrence of respective Governments. The MoU will further strengthen the close economic relationship and cooperation between India and United Arab Emirates. The swap agreement is also expected to facilitate invoicing of bilateral trade in local currencies.




Important Points @ Glance: Part 2

Important Points @ Glance: Part 3




No comments:

Post a Comment