National News Daily Current Affairs Update – 12 May 2016
ExamPariksha publishes relevant fact based daily Current Affairs pdf to cover all important happening and developments in the National sphere in this section. Usually examiners ask GA or current GK questions in personal interviews and exams focussing on recent events to check how informed you are. Here is a sincere attempt to cover all important topics for such scenarios from today’s current gk.
>> Supreme Court declared that Congress has won the floor test held in the Uttarakhand State Assembly on Tuesday. President’s rule has now been lifted in Uttarakhand. The court said, of the 62 votes in the 71-member Assembly, Mr Harish Rawat had won 33 votes. While nine rebel MLAs were not allowed to take part in the vote.
>> The Lok Sabha has been adjourned sine die, two days ahead of the scheduled date. Speaker Sumitra Mahaja said, in the recent past, it was the first session in which the House was not adjourned even for a single minute due to interruptions. During the session, 10 Bills were passed including the Regional Centre for Biotechnology Bill, the Compensatory Afforestation Fund Bill, the Insolvency and Bankruptcy Code, 2016 and the Anti-Hijacking Bill.
>> The Uttar Pradesh government has given its nod to develop nearly 200-km long bicycle highway from Agra to the lion safari in Etawah to encourage eco-tourism in the vicinity of the Taj Mahal.
>> Fearing Chinese support in the local unrest at Tawang, a town on India-China border in Arunachal Pradesh, the government has decided not to go ahead with the planned hydroelectric projects. The local people and the monks have been protesting against the dams.
- Tawang is the eighth least populous district in the country
- It is inhabited by the Monpa people.
- Visitors require a special Inner Line Permit from the government.
- Tawang has two main rivers, the Tawang Chhu and the Naymjang Chhu.
- There are two major religious festivals of the Monpas – “LOSAR” and “TORGYA“ celebrated once annually.
International News Important Current Affairs PDF – 12 May 2016
Questions about International Relations (IR) are often asked in interviews, written exams conducted by various recruiters. The following international news has important daily current affairs which you must know as an aspirant for exams conducted by UPSC and State PSCs.
>> A new report by the International Monetary Fund says, the money lost to corruption every year is 2% of the global gross domestic product (GDP). Bribery and corruption costs the world economy 2 trillion dollars every year. Apart from high economic costs of corruption, the indirect costs of Corruption can be:
- low growth
- greater income inequality.
- Undermines trust in government and
- Erodes the ethical standards of private citizens.
The report recommends, that nations adopt international standards for fiscal and financial transparency to fight corruption and make credible the threat of prosecution for corruption and bribery.
>> The Kenyan government has decided to close World’s biggest refugee camp in Dadaab.
An estimated 328,000 refugees, mostly from conflict-torn Horn of Africa, Somalia are staying in Dadaab camp. According to the Kenyan Government, the camp compromises Kenya’s security because it harbors some of Somalia’s Al-Shabab militants and is a conduit for smuggling weapons. This decision has been condemned by domestic and international rights groups.
>> Revathi Balakrishnan, an Indian-American woman elementary teacher from Texas has been honored by US President Barack Obama at the White House for her excellent work in the field of education. A gifted teacher, Revathi was also named 2016 ‘Texas Elementary Teacher of the Year’.
Economics News Today’s Current Affairs PDF – 12 May 2016
The following economics current news update has all important economy news for exams. These will also help in developing a better understanding of Economy.
>> The Supreme Court has allowed the Income Tax department to re-open a tax case against actor Amitabh Bachchan pertaining to his income in 2001. According to the IT Department, he owes 1 crore 66 lakh rupees in taxes for his show Kaun Banega Crorepati.
>> The Reserve Bank of India will issue banknotes of 1000 rupees denominations with inset letter ‘R’ in both the number panels. The banknotes will also have all other security features- ascending size of numerals, bleed lines and enlarged identification mark.
>> Seven Maharashtra-based Non Banking Financial Institutions (NBFCs) have surrendered their registration certificates to the RBI, following which they won’t be allowed to transact their financial business. Moreover, RBI has cancelled registration certificate of 4 NBFCs.
>> India and Mauritius have signed a landmark protocol to amend the Double Taxation Avoidance Agreement (DTAA) treaty. The move is expected to prevent misuse of the three-decade-old pact from paying taxes, curb round tripping of funds, prevent double non-taxation, streamline investments and lift tax uncertainty.
- India will be allowed to tax capital gains (profit from the sale of property or an investment) arising out of Mauritius. The protocol can tax capital gains between April 1, 2017 and April 1, 2019 at 50% of domestic rates in India. However, investments made prior to April 1, 2017 will not be taxable. Also, all past share sale transactions from Mauritius would be safeguarded.
- Background: India and Mauritius had signed a DTAA in 1983, which allowed only Mauritius to tax capital gains. However, they generally doesn’t impose a capital gains tax. This effectively meant that companies gaining from investments made in Indian companies via Mauritius-based entities managed to avoid paying taxes in both countries.
- Implications: This is a historic feat for the government, dialogue for this was initiated in 2006. Analysts say, this move could affect foreign investments. Presently, Mauritius and Singapore together contribute 50% of the total FDI inflows into India.
12 May 2016 – Sports News Today Current Affairs PDF
The following important current affairs about sports news are relevant from exam point of view. Questions might also be asked in upcoming banking and SSC CGL 2016 exam about the following.
>> Hockey India has recommended women’s team captain Ritu Rani, VR Raghunath and Dharamvir Singh for the Arjuna Award. They have done India proud by earning several accolades internationally.
>> Wrestlers Ravinder Khatri and Babita Kumari have secured Rio Olympic berths. Khatri has been awarded the berth in the Greco-Roman 85 kg category after Kenzheev Zhanarbek of Kyrgystan failed the dope test at the Asian Olympic qualifier. Babita also booked a ticket to Rio after Sumiya Erdenechimeg failed the test in 53kg freestyle division. This takes India’s quota to Rio from Wrestling to eight.
>> Renowned West Indies cricket commentator Tony Cozier has passed away at 75 years of age. Cozier covered almost every West Indies series since 1962, and is one of the most respected cricket writer, broadcaster and historian to have come out of the Caribbean.
We hope this compilation was useful for going through today’s current events of importance. Please share your comments with us. You can download the current affairs pdf by clicking on print button and saving it as a pdf. Have a Good Day!
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