Current Affairs for Engineering Service Exam
- National and International Issues on
- Economic Development
- Social Development
- Industrial Development
- Energy and Environment
- Information and Communication Technology
Topic 1:Economic development
Long term capital gains
Income Tax Act that would give the government the power to specify the applicability of the long term capital gains tax and the security transaction tax.
- The Finance Act 2018 had introduced Section 112A in the Income Tax Act, to provide that long term capital gains arising from the transfer of a long term capital asset, if it is an equity share in a company, be taxed at 10% of the value of the gains exceeding ₹1 lakh.
- It also provides that the provisions of the section shall apply to the capital gains arising from a transfer of long-term capital asset being an equity share in a company, only if securities transaction tax (STT) has been paid on the acquisition and transfer of such capital asset
- It has a been provided in sub-section (4) of Section 112A of the Act that the Central Government may specify, by notification, the nature of acquisitions in respect of which the requirement of payment of STT shall not apply in the case of acquisition of equity share in a company.
Security Transaction Tax(STT)
- STT is a type of direct tax payable on the value of taxable securities transaction done through a recognized stock exchange in the country.
- The securities on which STT is applicable are shares, bonds, debentures, derivatives, units issued by any collective investment scheme, equity based government rights or interests in securities and equity mutual funds.
Read more at: The Hindu
Topic 1:Social development
Electoral Bond Scheme
Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 02 nd January 2018.
- Electoral Bonds may be purchased by a person, who is a citizen of India or incorporated or established in India.
- A person being an individual can buy Electoral Bonds, either singly or jointly with other individuals.
- Only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one per cent of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds.
- The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.
- State Bank of India (SBI), in the 3rd phase of sale, has been authorised to issue and encash Electoral Bonds through its 11 Authorised Branches (as per list enclosed) w.e.f. 01.05.2018 to 10.05.2018.
- It may be noted that Electoral Bonds shall be valid for fifteen days from the date of issue and no payment shall be made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period.
- The Electoral Bond deposited by an eligible Political Party in its account shall be credited on the same day.
Read more at: PIB
Pradhan Mantri Rashtriya Swasthya Suraksha Mission (PMRSSM)
Ministry of Health and Family Welfare organized a National consultation with States/UTs to seek feedback on draft guidelines for implementing PMRSSM, on 23rd April, 2018 at New Delhi.
- PMRSSM highlighted the importance of the mission in the Indian healthcare landscape and the need to focus on its successful implementation
- States would get ample flexibility to contextualize the scheme based on their local needs
- The states were divided into three sub groups to ensure detailed deliberations and seek in-depth inputs on the draft set of guidelines.
- This included guidelines on beneficiary identification process, empanelment of hospitals, portability of the benefits, model tender document, modalities of premium release and other related aspects
- The scheme was approved in March 2006.
- The Pradhan Mantri Swasthya Suraksha Yojana (PMSSY) aims at correcting the imbalances in the availability of affordable healthcare facilities in the different parts of the country in general, and augmenting facilities for quality medical education in the under-served States in particular.
Read more at: PIB
Topic 1:Industrial development
Regulation of e-commerce
The government can regulate the e-commerce industry in a manner that safeguards the interests of the consumer and at the same time help the industry grow
- Digitization paved the way for paperless transactions
- The government is expecting strong growth in the domestic e-commerce market and is preparing accordingly.
- Services are almost two-third of the economy they will continue to be a growth engine of the economy.
- The great dominant sector in services is the IT sector
- Regulations must be robust and flexible and forward-looking and must follow technology.
- Indian economy is third largest economy in the world which necessitates the promotion of e e-commerce business
Read more at: Th Hindu
Topic 2 : Environment
Restructured National Bamboo Mission
The Cabinet Committee on Economic Affairs has approved Centrally Sponsored Scheme of National Bamboo Mission (NBM) under National Mission for Sustainable Agriculture (NMSA) during remaining period of Fourteenth Finance Commission (2018-19 & 2019-20)
- The Mission would ensure holistic development of the bamboo sector by addressing complete value chain and establishing effective linkage of producers (farmers) with industry.
- CCEA has also approved Empowerment of Executive Committee for formulation of guidelines of the NBM and to make the changes therein, including cost norms for various interventions from time-to-time as per the felt needs and specific recommendations of States, with the approval of Union Minister for Agriculture & Farmers Welfare.
- The scheme will benefit directly and indirectly the farmers as well as local artisans and associated personnels engaged in bamboo sector including associated industries
The restructured NBM strives to:
- To increase the area under bamboo plantation in non forest Government and private lands to supplement farm income and contribute towards resilience to climate change.
- To improve post-harvest management through establishment of innovative primary processing units, treatment and seasoning plants, primary treatment and seasoning plants, preservation technologies and market infrastructure.
- To promote product development at micro, small and medium levels and feed bigger industry.
- To rejuvenate the under developed bamboo industry in India.
- To promote skill development, capacity building, awareness generation for development of bamboo sector.
Read more at: PIB
Maharashtra tops in air toxicity
Air pollution in Maharashtra is a cause for concern, with three towns crossing dangerous Nitrogen Dioxide (NO2) levels between 2011 and 2015. It is based on the air quality data generated during 2011-2015, the Central Pollution Control Board has identified 94 towns, for not meeting the prescribed standards.
- The towns are in the Thane district-Badlapur-Ulhasnagar and Pune belts. Seventeen of the State’s cities and towns exceeded Particulate Matter 10 (PM10) during the period.
- High levels of NO2 and PM10 determine air toxicity, with excess NO2 levels known to cause severe respiratory infections.
- Lack of constant monitoring and reporting in the public domain is a major loophole in the system
- Particulates come mainly from construction activity and roadside dust
- The State government has been in consultation with the National Environmental Engineering Research Institute to device a action plan for its cities to better the air quality
- Kolkata and Delhi reported high levels of NO2 along with PM10. Uttar Pradesh reported 15 of its cities and towns to have exceeded the PM10 level.
Read more at: The Hindu