• Current Affairs , 26 November2019

    • November 26, 2019
    • Posted By : upliftlife
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    1. 50th edition of Governor’s Conference
    2. 28 private member’s Bills introduced in Lok Sabha
    3. symmetry in the working of the GST council and the finance commission
    4. One Stop Centre Scheme
    5. Adjusted Gross Revenue
    6. India to be a $5 trillion economy
    7. AYUSH Ministry hosting WHO Meetings on developing Standardized Terminologies
    8. Coal India Liquidates 35 Mt of Coal from its Pithead Stock
    9. MCA initiatives to reduce cost of compliance by various small private limited companies
    • Sangai Festival 2019 begins in Manipur
    1. The US clears sale of MK-45 naval guns to India
    2. Ocean Dance Festival 2019
    3. US Navy chief fired over Seal case
    4. North Korea conducts artillery drills near disputed sea boundary with South Korea at Kim Jong Un’s order
    5. Indian archers bag recurve bronze at Asian Championships






    1. 50th edition of Governor’s Conference



    • The 50th Conference of Governors concluded at Rashtrapati Bhavan today  laying emphasis on tribal welfare and issues related to water, agriculture, higher education and ease of living.
    • Five sub-groups of Governors submitted their reports on these issues, and deliberated and identified actionable points in which governors can play a facilitating role. The conference took keen interest in tribal welfare issue and pointed out that policies for tribal upliftment had to be tailored in accordance with local requirements.
    • Prime Minister of India Shri Narendra Modi while congratulating the gathering for the successful conclusion of the 50th edition of the Conference, emphasized that for the future,  even as it evolves with the times, the institution of this Conference should remain focused on ensuring national development and meeting the needs of common man.
    • While lauding the participants for coming up with valuable suggestions, Prime Minister urged the Governors, as first citizens, to enable  discussions at state level so that ideas suitable to their local conditions are pursued vigorously.
    • With respect to development of tribal areas, the Prime Minister urged for the use of appropriate use of technology and adoption of progressive schemes in the sphere of sports and youth development. Prime Minister also asked for a mission mode focus to be given to meeting the development needs of the 112 aspirational districts, particularly those that fall in the tribal areas of the country and to ensure that they come up above the state and national averages on the relevant development indices at the earliest.
    • The Prime Minister said that the discussion on Jal Jeevan Mission in the Conference reflected the priority given by the Government to water conservation and water management techniques that emphasized functionality and were tailored to local conditions. In their role as Chancellors of Universities, the Prime Minister requested Governors to inculcate this message of good habits of water conservation amongst the youth and student community as well. Prime Minister also requested Governors to seek out ways of helping to publicize the message of traditional water related festivals like ‘Pushkaram’.



    1. 28 private member’s Bills introduced in Lok Sabha



    • 28 private member’s Bills introduced in Lok Sabha.
    • Any MP who is not a Minister is referred to as a private member.
    • The admissibility is decided by the Chairmanfor Rajya Sabha and Speaker in the case of Lok Sabha.
    • The Member must give at least a month’s notice before the Bill can be listed for introduction.
    • The House secretariat examines it for compliance with constitutional provisions and rules on legislation before listing. While government Bills can be introduced and discussed on any day, private member’s Bills can be introduced and discussed only on Fridays.



    1. Symmetry in the working of the GST council and the finance commission



    • Chairman of the 15th finance commission N.K. Singh has called for symmetry in the working of the GST council and the finance commission.
    • While the finance commission looks at the projections of expenditure and revenue, the issue of GST rates exemptions, changes and implementation of the indirect taxes are within the domain of the GST council. This leads to unsettled questions on the ways to monitor, scrutinise and optimise revenue outcomes.
    • The GST council is the key decision-making body that will take all important decisions regarding the GST.
    • The GST Council dictates tax rate, tax exemption, the due date of forms, tax laws, and tax deadlines, keeping in mind special rates and provisions for some states.
    • The predominant responsibility of the GST Council is to ensure to have one uniform tax rate for goods and services across the nation.


    1. One Stop Centre Scheme



    • The Government of India is implementing One Stop Centre (OSC) scheme for setting up One Stop Centre since 1st April 2015 to support women affected by violence.
    • Popularly known as Sakhi, Ministry of Women and Child Development (MWCD) has formulated this Centrally Sponsored Scheme.
    • It is a sub – scheme of Umbrella Scheme for National Mission for Empowerment of women including Indira Gandhi Mattritav Sahyaog Yojana.
    • Under the scheme, One Stop Centres are being established across the country to provide integrated support and assistance under one roof to women affected by violence, both in private and public spaces in phased manner.
    • The OSC will support all women including girls below 18 years of ageaffected by violence, irrespective of caste, class, religion, region, sexual orientation or marital status.
    • The Scheme will be funded through Nirbhaya Fund.The Central Government will provide 100% financial assistance to the State Government /UT Administrations under the Scheme.




    1. Adjusted Gross Revenue




    • Bharti Airtel and Vodafone Ideahave filed a petition in the Supreme Court to review its October 24 judgment on the Adjusted Gross Revenue (AGR) issue.
    • The petitions challenge the inclusion of notional incomes in the AGR.
    • Last month, the Supreme Court upheld the definition of Adjusted Gross Revenue (AGR) calculation as stipulated by the Department of Telecommunications.
    • This means that telecom companies will have to pay up as much as Rs 92,642 crore to the government. Adjusted Gross Revenue (AGR) is the usage and licensing fee that telecom operators are charged by the Department of Telecommunications (DoT). It is divided into spectrum usage charges and licensing fees, pegged between 3-5 percent and 8 percent respectively.
    • As per DoT, the charges are calculated based on all revenues earned by a telco – including non-telecom related sources such as deposit interests and asset sales. Telcos, on their part, insist that AGR should comprise only the revenues generated from telecom services.


    1. India to be a $5 trillion economy



    • The road to a $5 trillion economy by 2025is beset with many speed-breakers, the NITI Aayog has warned the government.
    • Essentially $5-trillion economy is the size of an economy as measured by the annual Gross Domestic Product (GDP).
    • Apart from the monetary definition, a $ 5 Trillion Economy calls for pulling all the economic growth levers—investment, consumption, exports, and across all the three sectors of agriculture, manufacturing and services.
    • It also means improving all three sectors of the economy, India will more likely achieve its ambitious Sustainable Developmental Goals (SDGs).
    • In 2014, India’s GDP was $1.85 trillion. Today it is $2.7 trillion and India is the sixth-largest economy in the world. Essentially the reference is to the size of an economy as measured by the annual GDP.


    7. AYUSH Ministry hosting WHO Meetings on developing Standardized Terminologies




    • Ministry of AYUSH is hosting two important WHO meetings during the last week of November and first week of December 2019 at the Institute of Prost Graduate Teaching and Research in Ayurveda (IPGT & RA), Jamnagar, Gujarat and another is Morarji Desai National Institute of Yoga & Naturopathy, New Delhi.
    • The WHO – International Experts Consultation Meeting (IECM), held from 26thto 29th November 2019, shall host 51 selected international experts (from all six WHO regions) of Ayurveda, Unani and Panchakarma, as well as Traditional Medicine practitioners, researchers, health policy makers, regulators and administrators.
    • The WHO Working Group Meeting (WGM), held from 2ndto 4th December 2019, shall host 42 selected international experts (from all six WHO regions) of Traditional Medicine literary research, and other related academics including different language experts (Sanskrit, Arabic, Persian, Urdu, and Tamil) with specific knowledge and considerable experience in working in the area of Traditional Medicine languages and scripts.  WHO is developing Benchmarks Document for Practice of Ayurveda, Panchakarma & Unani and International Terminologies Documents in Ayurveda, Siddha & Unani as part of its global strategy to strengthen the quality, safety and effectiveness of Traditional and Complementary Medicine (T&CM).  Development of this benchmarks document is included in the Project Collaboration Agreement (PCA) signed between World Health Organization (WHO) and Ministry of AYUSH, Government of India on Cooperation in the field of Traditional and Complementary Medicine under WHO strategy on T&CM covering the period 2014-2023.
    • The consultation meeting of international experts (IECM) on the benchmarks for practice is a continuation of the Working Group Meeting (WGM) WHO organized on the same subject during the September of 2018 at National Institute of Ayurveda at Jaipur


    8. Coal India Liquidates 35 Mt of Coal from its Pithead Stock



    • The state-run Coal India Limited (CIL) has liquidated 35 Million Tonnes (MT) of coal from its pithead stock in the first half of the current fiscal 2019-20, the Coal Minister Shri Pralhad Joshi informed parliament .
    • “The pithead coal stock with CIL was 54.15 Million Tonne (MT) as on April 1, 2019 which reduced to 19.15 MT as on September 30, 2019. Thus, the coal stock liquidation was 35 MT in the first half of the financial year 2019-20” Coal Minister Shri Pralhad Joshi said in a reply to the Rajya Sabha.
    • The minister also informed the upper house that CIL’s coal production rose by 10.6% in the first half of FY 18-19 to 256.47 MT as against 231.88 MT produced in the corresponding period of FY 17-18.
    • In a reply laid on the table of the upper house the minister also informed that India’s coal production grew by 8.14% to 730.35 MT in FY 18-19 in comparison to 675.40 MT of coal produced in the county in FY 17-18.
    • In another reply to the Rajya Sabha, the Minister informed that 319 Billion Tonnesof geological reserves of coalhave been estimated in India so far as on April 1, 2018.


    9. MCA initiatives to reduce cost of compliance by various small private limited companies


    • The Ministry of Corporate Affairs (MCA) has been taking various initiatives on continuous basis to provide less stringent regulations, including measures with respect to filing requirements for small companies, One Person Companies (OPCs) and start-ups. This was stated by Shri Anurag Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Lok Sabha today.
    • The changes in this regard are made in the Companies Act, 2013 as well as various Rules and Forms thereunder from time to time.  The Companies (Auditor’s Report) Order, 2016 (CARO, 2016) has not been extended to private schools and hospitals built on concession land.
    • The Minister further stated that the opinion of the Government regarding inclusion of Institute of Chartered Accountants of India (ICAI) members on the NFRA (National Financial Reporting Authority) Board is that it would not create conflict of interest situation.
    • As per the National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018, NFRA board has 13 members out of which 3 members represent ICAI as per clause (v), (vi) and (vii) of Rule 4(6). The main functions under section 132(2) and (4) will be performed by the executive body of NFRA and as such, no conflict of interest will be there.

    The Securities and Exchange Board of India (SEBI) under the Department of Economic Affairs (Ministry of Finance) has stated on 20.11.2019 that the following recent measures have been taken by SEBI to improve governance standard in rating agencies:-


    • Credit Rating Agencies (CRA) to segregate the activity other than the rating of financial instruments under the respective guidelines of a financial sector regulator or any authority as may be specified by SEBI.
    • MD/CEO of a CRA shall not be a member of rating committees of the CRA.
    • Rating committees of a CRA shall report to a Chief Ratings Officer (CRO).
    • One third of the board of a CRA shall comprise of independent directors, if the board is chaired by a non-executive director.  In case the board of the CRA is chaired by an executive director, half of the board shall comprise of independent directors.
    • The board of a CRA shall constitute the following committees:
        • Ratings Sub-Committee
        • Nomination and Remuneration Committee
      • The Chief Ratings Officer (CRO) shall directly report to the Ratings Sub-Committee of the board of the CRA.
      • The Nomination   and   Remuneration   Committee   shall be chaired   by   an independent director.
      • CRAs  shall meet the audit  committee of  the  rated  entity, at  least  once  in  a  year,  to discuss issues including related party transactions, internal financial control and other material disclosures made by the management, which have a bearing on rating of the listed Non-Convertible Debentures (NCDs).
      • Minimum net worth requirement of CRA increased from existing Rs. 5 Crore to Rs. 25 Crore.
      • The promoter of a CRA to maintain a minimum shareholding of 26% in the CRA for a minimum period of 3 years from the date of grant of registration by the Board.
      • A CRA shall not, directly or indirectly, have 10% or more shareholding and/ or voting rights in another CRA and a CRA shall not have representation on the Board of any other CRA.


    1. Sangai Festival 2019 begins in Manipur



    • Every year the State of Manipur celebrates the “Manipur Sangai Festival”from 21st to 30th November.
    • The ‘Festival’ is named after the State animal, Sangai,the brow-antlered deer found only in Manipur.
    • It started in the year 2010 and has grown over the years into a big platform for Manipur to showcase its rich tradition and culture to the world.
    • The festival is organized by the State Tourism Department and biggest festival held annually to promote tourism.
    • The formal inaugural function of the festival was held at Hapta Kangjeibung at
    • During the festival, cultural programmes, traditional games, folk dance and classical music will be performed by different communities of the State as well as from other States.





    1. The US clears sale of MK-45 naval guns to India



    • The US State Department cleared the sale of sophisticated naval guns worth $1 billion to India.
    • The MK-45 guns will enhance India’s naval capabilities, particularly in the Arabian Sea.
    • The Gun System will provide the capability to conduct anti-surface warfare and anti-air defence missions while enhancing interoperability with the U.S. and other allied forces.


    1. Ocean Dance Festival 2019



    • The  Ocean Dance Festival 2019kicked off in Cox Bazar of Bangladesh. Ocean Dance Festival is the largest international dance festival of Bangladesh in which more than 200 dancers, choreographers and scholars from 15 countries are participating.
    • The theme of this year’s festival is ‘Bridging the distance’or Durotter Shetubandhan.
    • The dances performed at the event will show the idea of bridging cultural and economic distances.
    • The festival is being organised by the Nrityajog which is the Bangladesh wing of World Dance Alliance (WDA). The festival aims to expand cultural tourism in Bangladesh.
    • It also features seminars and discussion apart from the dance performances by the artists.



    13.       US Navy chief fired over Seal case

    ·     US Defence Secretary Mark Esper has fired Navy chief Richard Spencer over his handling of a Navy Seal’s case.

    ·     The case is related to Edward Gallagher, who was convicted for posing with a corpse in Iraq in 2017. For that, Gallagher was demoted, but President Donald Trump later reinstated his rank.

    ·     The President intervened in his case and issued a pardon on November 15. He supported the decision of his Defence Secretary and announced that he will nominate US Ambassador to Norway Kenneth Braithwaite to replace Spencer.

    ·     Mark Esper said he lost confidence in Spencer after finding out the navy chief had tried to end the dispute behind his back.

    14.       North Korea conducts artillery drills near disputed sea boundary with South Korea at Kim Jong Un’s order

    ·     North Korean troops performed artillery drills near the disputed sea boundary with South Korea at the order of leader Kim Jong Un.

    ·     The North’s Korean Central News Agency (KCNA) said that the firing happened when Kim inspected a military unit off the west coast. It was Kim’s first known trip to a front-line military unit since he entered nuclear talks with the United States last year.

    ·     The nuclear negotiations are largely at standstill now as North Korea steps up pressure on Washington to lift international sanctions and abandon hostile policies on the North.

    ·     South Korea’s Defense Ministry expressed regret over the latest drills, saying they violated last year’s inter-Korean deals aimed at lowering military animosities in border areas.




    15.       Indian archers bag recurve bronze at Asian Championships

    ·     Indian archers ensured two medals in the recurve and compound mixed event of the Asian Archery Championships in Kolkata.

    ·     Atanu Das and Deepika Kumari bagged a bronze medal in the recurve mixed pair event, defeating Yichai Zheng and Shaoxuan Wei of China 6-2.

    ·     The compound mixed pair team of Abhishek Verma and Jyothi Surekha Vennam defeated Korea 159-154 to set up a gold medal clash with Chinese Taipei, slated for Wednesday.

    ·     The team eliminations are also slated from Wednesday while Indian women will also vie for Olympic quotas in the qualifications round on Thursday.


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