Current Affairs Questions & Answers - Aug 04, 2016

ANSWER: All of the above

Explanation:
The Goods & Services Tax Bill was finally passed to amend the Constitution, paving the way for one nation one tax.

• Barring the AIADMK which staged a walkout on the plea that federalism had been violated, other parties, including the Congress voted for the Bill.
• RS passed the constitutional amendment by 2/3rd majority as all parties except AIADMK pledged support.
• GST will now have two components keeping the federal structure of India in mind: The Central GST and State GST.
• Shift to the GST Bill will lead to uniform and seamless markets across the nation and it will be a uniform rate, checking evasion and boosting growth rates.
• Services like hotels, cellphone bills, air and train tickets are set to cost more.
• Goods like two wheelers, cars and SUVs as well as fans, lighting products, water heaters and air coolers will become cheaper.
• GST if set at 18 percent will be lower than 24-26 percent tax on goods but higher than 15% services tax.
• CPI inflation will go up by 20-70 basis points in the year of implementation.
• The Bill will eliminate multiple taxes on firms and help in the ease of doing business.
• It will also reduce logistics cost for firms due to elimination of inter state taxes.
• Capital goods prices will fall boosting GDP growth by 0.5 percent.
• Will reduce inflow of black money due to increased documentation.

ANSWER: Steel

Explanation:
South Korea has overtaken China as the largest exporter of steel products to India in the first quarter of 2016-2017.

• South Korea exported 5.11 lakh tonnes of steel to India, marginally higher than that exported by China at 5.10 LT during the April-June quarter in 2016-2017.
• China was followed by Japan at 3 LT and Russia at 1.70 LT during the April-June quarter in 2016-2017.
• Together, these four countries accounted for more than three-fourth of the steel.

ANSWER: Mozambique

Explanation:
India has inked an MoU with Mozambique to import 3.75 lakh tonne pulses during 2016-2019.

• MoU fixes a target of minimum quantities of import of tour and other pulses from Mozambique over three financial years.
• India imported pulses worth USD 3.90 billion in 2015-2016 as against 2.78 billion in the previous fiscal
• In quantity terms, pulse imports in 2015-2016 stood at 57.97 lakh tonnes as against 45.85 lakh tonnes in 2014-2015

ANSWER: Vijender Singh

Explanation:
India boxing star Vijender Singh on 3rd August 2016 broke into the World Boxing Association rankings at 10th after being crowned in the Asia Pacific super middleweight championship last month.

• Vijender beat former WBC champion from Europe Kerry Hope to win the title recording 7 straight wins- 6 of them knockouts.
• India is placed above American Trevor McCumby who had 22 wins, 17 of them knockouts.
• Higher above them is US based Russian Matt Korobov who has 26 wins in 27 fights so far
• Top slot is held by American Jesse Hart.

ANSWER: INR 2313 crore

Explanation:
GoI has imposed a penalty of INR 2313 crore on telecom operators for violation of subscriber verification norms till May 31, telecom Minister Manoj Sinha has informed the Parliament.

• For non compliant CAFs, TERM cells have taken actions which include imposition of penalty on non compliant CAFs and filing of FIRs against allegedly forged cases as per guidelines issued from time to time.
• As per data state run BSNL tops the chart with INR 583.09 crore followed by Reliance Communications (INR 377.51 crore), Tata Teleservices (INR 328.15 crore), Airtel (INR 300.34 crore).
• Other top companies caught in the net include Vodafone, Idea Cellular, Aircel and MTS.

ANSWER: Infosys

Explanation:
Global software major Infosys on 3rd August 2016 announced the investment of USD 4 million or INR 27 crore in Israeli corporation Cloudyn, providing software as a service solutions for management and optimisation of hybrid, multi-cloud deployments.

• Cloudyn has enabled enterprises to manage and optimise multi cloud deployments.
• Infosys investment came after rival Wipro said it was purchasing HR Given, another Israeli firm for an undisclosed amount.

ANSWER: eSign Desk

Explanation:
Legal Desk, a startup in online legal documentation on 4th August 2016 announced launch of electronic signing feature- eSign Desk- talking digital signature to the masses beyond companies.

• Constructed on the Aadhaar platform, eSign in a government initiative enabling citizens with Aadhaar to remotely sign any document
• The National Payments Corporation of India which is an organisation run by all banks in the country is also coming out with own version of unified payment interface which will make sending and receiving money simpler

ANSWER: Io

Explanation:
Jupiter’s volcanic moon Io has a thin atmosphere collapsing in the shadow of the planet condensing as ice says NASA funded research

• This reveals the freezing effects of its shadow during the daily eclipses on the moon’s volcanic gases.
• Io is the most volcanically active object in the solar system.
• This is the first time scientists have observed this phenomenon increasing understanding of the geologically active moon.
• Volcanoes are caused by tidal heating, the result of gravitation forces from Jupiter and other moons.
• Forces can result in geological activity such as emission of umbrella like plumes of sulphur dioxide gas which can extend to 480 km above Io and produce extensive basaltic lava fields flowing for 100s of miles.
• Io’s atmosphere is in constant state of collapse and repair and shows a large fraction of the atmosphere is supported by sublimation of So2 ice.

ANSWER: Prachanda

Explanation:
He became the 24th Prime Minister in 26 years since the Himalayan nation adopted multi party democracy in 1990

• He is the 8th PM since the 239 year old monarchy was abolished 8 years ago.
• Nepalese Parliament has elected the former Maoist rebel Chief as PM after KP Oli resigned.

ANSWER: BSE

Explanation:
Leading stock exchange BSE on 3rd August 2016 signed an agreement with Indian Institute of Technology Kanpur for collaboration in areas including cyber security.

• Leading stock exchange BSE will be assisted in testing vulnerabilities in IT system and network and help form guidelines and audit security operations.
• Key highlights of the MoU include cooperation for cyber security research in financial marks developing an environment to deal with cyber security challenges and tools to strengthen cyber security and advise BSE in cyber related issues.

ANSWER: Very Hefty

Explanation:
Union Cabinet on 3rd August 2016 passed the Motor Vehicle Amendment Bill 2016 which provides for very hefty penalties in case of traffic violations.

• As per the provisions, drunken driving will now attract INR 10000 fine.
• Fine of INR 1000-4000 will be imposed for over speeding.
• As per the bill, driving without insurance means a fine of INR 2000 and/or three month imprisonment while driving without helmets will attract INR 2000 fine and 3 month suspension of license.
• In case of juvenile offenders, guardian/owner will be deemed guilty and vehicle registration will be cancelled

ANSWER: Braj C Kachru

Explanation:
Well known Indian American linguist Braj B Kachru passed away on July 29, 2016 in Urbana, Illinois

• He was 84 years old at the time of his death.
• He was known for coining the term World English.
• He also published studies on Kashmiri.
• At the University of Illinois, Department of Linguistics was headed by him from 1968-1979.
• He was also Director of the Centre for Advanced Study from June 1996 to January 2000 at the University.
• He was named Jubilee Professor of Liberal Arts and Sciences at Illinois in 1992.

ANSWER: Dental

Explanation:
A Bill has been passed to introduce uniform entrance examination for all dental educational institutions applicable at post and undergraduate level.

• Bill states that in case a state has not opted for uniform entrance examination, exam will not be applicable at undergraduate level for 2016-2017.
• Provision will apply to state government seats in government and private dental colleges.
• It also provides that entrance examinations will be conducted in Hindi, English and other language and powers will be given to DCI to frame regulations.

ANSWER: Chair of IOC Athletes Commission

Explanation:
American ice hockey Olympic champion Angela Ruggiero has on 1st August 2016 been elected as new chair of the International Olympic Committee’s Athletes Commission.

• IOC President Thomas Bach appointed her during a joint meeting between IOC Athletes Commission and IOC Executive Board.
• Ruggiero will replace Claudia Bokel and is currently vice chair of the commission.

ANSWER: Yemen

Explanation:
Yemeni government has accepted a UN proposed peace agreement to end civil war in the country.

• Precondition is Houthi rebels and ex President Saleh need to sign the deal by Aug 7.
• Deal abolishes supreme political council set up by them and nullifies all its decisions.
• Yemen has been torn by conflict since 2014 when Houthi rebels allied with groups loyal to Saleh stormed the capital Sanaa and forced the government into exile.

ANSWER: Kerala

Explanation:
Kerala tourism has bagged six National Tourism Awards for 2014-2015 in the marketing category.

• It also received two more awards including for Responsible Tourism initiative in Wayanad.
• It received three of six awards for states in Tourism promotion and Publishing category.
• Sargaalaya Arts and Crafts Village at Iringal fetched the award for Kerala Tourism in rural tourism project category.
• Third award for Kerala tourism came for innovative use of information technology.
• Turtle on the Beach, Kovalam was judged best 5 star hotel while Coconut Lagoon won the Best Heritage hotel award and Coconut Creek Farm and Homestay was given the award for best B&B

ANSWER: National Highway Authority of India

Explanation:
Cabinet Committee on Economic Affairs chaired by PM Modi has authorised the National Highways Authority of India to monetise public funded NH projects which are operational and generating toll revenue for atlas two yeas after the Commercial Operations Date through the Toll Operate Transfer Model.

• Close to 75 operational NH projects have been identified for the monetisation.

ANSWER: Lao PDR

Explanation:
Union Cabinet chaired by PM Shri Narendra Modi has given approval for signing new Air Services Agreement between India and Lao PDR.

• Agreement will boost trade, investment, tourism and cultural exchange between the two nations through agreement in the civil aviation sector.
• As per the agreement, the designated airlines of the two countries will have equal opportunity to operate the agreed services on specified routes.

ANSWER: India International Footwear Fair

Explanation:
The 2nd edition of the India International Footwear Fair specialising in B2B events of India Trade Promotion Organisation/ITPO and Confederation of Indian Footwear Industries(CIFI) on August5, 2016 at Pragati Maidan New Delhi will have the support of apex bodies.

• This includes Council for Leather Exports/CLE, Central Leather Research Institute/CLRI, India Shoe Federation/ISF and Footwear Design and Development Institute/ FDDI
• There are 263 companies from India and abroad participating in this event.

ANSWER: 7

Explanation:
Festival of India will be held in 7 cities of Australia between August and November 2016.

• This will present some of the finest elements of India’s classical and contemporary culture through dance, music, theatre, textiles and visual arts.
• Festival is being organised by Ministry of Culture with support of ICCR and India Tourism.

ANSWER: Shipping

Explanation:
Shipping Corporation of India has signed an MoU with Ministry of Shipping for the year 2016-2017.

• The MOU is based on the MOU guidelines 2016-17 issued by the Department of Public Enterprises (DPE).
• It consists of parameters drawn on the prescribed evaluation criteria and factors such as capacity and its expansion, business environment, projects under implementation have been considered.
• SCI has set ambitious, growth oriented and aspirational targets against these parameters keeping its growth plans and objectives in view.

ANSWER: Dredging Corporation of India

Explanation:
Dredging Corporation of India has signed a Memo of Understanding with Ministry of Shipping for FY2016-2017.

• MoU comprises performance evaluation parameters and targets for Dredging Corporation of India Ltd for the ensuing year.
• As per the targets set in the MoU for 2016-17 that was signed today, DCI is to achieve a turnover of Rs.770 crores.
• The target for operating profit is Rs.65 crores for 2016-17 as against the actual of Rs.45 crores for 2015-16.

ANSWER: China

Explanation:
Scientists from China are set to perform the world’s first gene editing trial on human brings. The notion behind using this controversial technique on cancer patients at a hospital in Chengdu city, is to find a cure for lung cancer, scientists said.

• Trial has received ethical permission from the hospital review board and marks the first step towards creation of genetically modified babies