TNPSC Current Affairs 2016 November 4
1. Finally Central and state Governments reached an agreement on GST Tax structure.
The GST council has announced the 4 tier tax structure at 5%, 12%,18% and 28%
About Tax Structure:
5% tax is for mass consumption products which used by the common man comes under this structure
12% structure is one of the 2 standard rate in GST, the items which not in essential and luxury list will fall under these 2 categories
28% structure will be for luxury products like car, sin products like tobacco, pan masala etc
0% tax for daily necessities like Food grain, Cooking oil and others.
Council also said that there will be Cess on top 28% tax structure.If there is any loss in revenue for States in 5 years after implementing GST,it will compensated with the help of GST Cess and the Clean Energy Cess.
What is GST?
GST is an indirect tax levy on manufacture, sale and consumption of goods and services at the national level, it will replace all the indirect tax levy by central and state government on goods and service.
2. India and Bangladesh Joint Exercise "Sampriti-2016"
India and Bangladesh Joint military Exercise "Sampriti-2016" to be conducted at Tangil, Dhaka, Bangladesh from Nov 5 to Nov 18, 2016.
This is the 7th exercise conducted by both countries under the scenario working together in a counter insurgency and counter Terrorism under the UN Charter. The first exercise in this series held in 2010 at Johrat in Assam.
3. India and Kazakhstan is going to sign FTA by year end
India and Kazakhstan to sign the Free trade Agreement by end of this year.
This will help to boost the bilateral relationship with Eurasian region, since Kazakhstan is path of Eurasian. Eurasia which consists of Russia, Belarus, Kazakhstan, Armenia and Krygizstan.
Meanwhile Kazakhstan is planning to set up its second consulate in Chennai after Mumbai
What is Free trade Agreement.
FTA which involves cooperation between at least 2 countries to reduce it trade barrier, like import quotas and tarrifs . It will help to increase trade of Goods and services between 2 countries.
4. Finally National food Security Act implement across the country.
Central Government finally implemented the National Food Security Act across the whole country after Tamil Nadu and Kerala rolled out it from November.
What is National Food Security Act (NFSA)?
National food Security Act is also called Right to Food Act, which aims to provide subsidized Food grains to 1.2 billion people.
Highlights of Food Security Act
National food Security Act is also called Right to Food Act, which aims to provide subsidized Food grains to 1.2 billion people.
Highlights of Food Security Act
This act ensure that the two- third of nation population will get 5kg of Food Grain Everymonth
The poor households would continue to recieve monthly entitlement of 35 Kgs under the "Antyodaya Anna Yojana" at a subsidized price of Rs. 1 per Kg for millets, Rs. 2 per Kg for wheat and Rs. 3 per Kg for rice
It is world's largest social welfare scheme with the government spending estimated at Rs 125,000 crore annually on supply of about 62 million tonnes of rice, wheat and coarse cereals to 67 per cent of the population.
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Pregnant women and lactating mothers would receive a maternity benefit of at least 6,000 rupees.
Pregnant women and lactating mothers would receive a maternity benefit of at least 6,000 rupees.
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Children aged six months to 14 years would get take-home ration or hot cooked food.
Children aged six months to 14 years would get take-home ration or hot cooked food.
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It will give more authority to women in running their households, the oldest adult woman in each house would be considered the head of that household when issuing the ration card.
It will give more authority to women in running their households, the oldest adult woman in each house would be considered the head of that household when issuing the ration card.
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The work of identification of eligible households is left to the states/UTs, which may frame their own criteria or use social,economic and caste census data.
The work of identification of eligible households is left to the states/UTs, which may frame their own criteria or use social,economic and caste census data.
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The central government will provide money to states and union territories if it runs low on grain . It also provided assistance in cost of inter-state transportation.
The central government will provide money to states and union territories if it runs low on grain . It also provided assistance in cost of inter-state transportation.
Facts:
1.NASA has successfully completed building mirror of largest Space telescope "James Webb Space Telescope", which will be 100 times powerful than 26 year old Hubble Space Telescope
2.The world's largest and most sensitive cosmic ray monitor is located in India.
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