Current Affairs for IAS Exams - 22 January 2017

:: NATIONAL ::

Stir regarding  jallikattu  continues

• The Tamil Nadu government stepped up preparations for the conduct of jallikattu in Madurai and other parts of the State following the Governor’s approval for the ordinance proposing amendments to the Prevention of Cruelty to Animals Act (1960).

• Announcing that the sport will be held across the State, Chief Minister O. Panneerselvam said he would flag off the event at Alanganallur, in Madurai.

• The circumstances behind the Governor’s action is the sentiments of Tamils and to protect their cultural right and having regard to the grave and volatile situation prevailing in the State and in the best interest of maintaining law and order.

Kudankulam second reactor attains maximum capacity

• The second unit of Kudankulam Nuclear Power Project attained its maximum capacity of 1,000 MWe.

• It’s a great moment for the KKNPP, which is already successfully operating its first unit. After successfully crossing a range of tests, the second reactor reached the milestone of generating 1,000 MWe.

• On attaining 250 MWe, 400 MWe, 500 MWe, 750 MWe and 900 MWe, power generation in the reactor was stopped for a range of mandatory tests stipulated by Atomic Energy Regulatory Board.

• Only after the AERB gave its nod at every level, power generation was increased to the next stage and ultimately to take the reactor to its maximum capacity of 1,000 MWe.

• This is really good news for the Tangedco, which is already getting 562.50 MWe from the first reactor. Neighbouring Telengana, Karnataka and Kerala are getting 50 MWe, 221 MWe and 133 MWe respectively from the first reactor.

• Tamil Nadu is expected to get a minimum of 462.50 MWe from the second unit.

ISRO will set a record by launching 103 satellites: (Register and Login to read Full News)

Kambala’s traditional buffalo racing: (Register and Login to read Full News)

Prehistoric rock art surfaced: (Register and Login to read Full News)

:: INTERNATIONAL ::

Pakistan has engaged the World Bank, as facilitator of the IWT

• Pakistan urged the World Bank to form a court of arbitration to mediate the dispute over the Indus Waters Treaty between the two countries.

• Pakistan’s two parliamentary committees in a rare joint resolution asked India to immediately suspend work on two hydropower projects in Jammu and Kashmir and agree on the constitution of an arbitration court to resolve the water dispute.

• The National Assembly’s Committee on Foreign Affairs and Water and Power held a joint sitting in Islamabad  to discuss water issues with India. A joint resolution adopted at the meeting asked India to halt the construction work.

• The resolution also called upon the World Bank to constitute a court of arbitration to adjudicate on issues raised by Pakistan against India’s ongoing construction of Kishanganga and Ratle hydro projects.

• The construction of dams on the western rivers by India has brought the two countries at loggerheads and Pakistan has engaged the World Bank, a facilitator of the IWT, to stop India from going ahead with the construction.

Japan is threatening to take India to the WTO (Register and Login to read Full News)

:: Science and Technology ::

Massive Antarctic ice shelf is breaking away:

• A gigantic chunk of ice that is breaking away from West Antarctica is now attached to its parent ice shelf just by a thread, scientists reported.

• Covering 5,000 sq km and nearly 100 storeys-deep, the formation is poised to snap off from Larsen C ice shelf, creating “one of the largest icebergs ever recorded”.

• A widening rift running the length of the finger-shaped, 350 metre-thick ice block grew 10 km longer some time during the last three weeks, satellite images revealed.

• Ice shelves float on the sea, extending from the coast, and are slowly fed by glaciers from the ice sheet on land. They act as giant brakes, preventing the glaciers from sliding directly into the ocean.

Faster diagnosis of HIV:

• Scientists have developed a new method for medical testing that may lead to faster diagnosis of HIV, Lyme disease, syphilis and rotavirus infections.

• Researchers at the University of Central Florida (UCF) in the U.S. combined cutting-edge nanoscience with a magnetic phenomenon discovered more than 170 years ago to create the method for speedy medical tests.

• The team coated nanoparticles with the antibody to BSA, or bovine serum albumin, which is commonly used as the basis of a variety of diagnostic tests.

• By mixing the nanoparticles in a test solution, the BSA proteins preferentially bind with the antibodies that coat the nanoparticles.

• Nanoparticles with an iron core and applied a magnetic field to the solution, causing the particles to align in a particular formation.

• As proteins bind to the antibody-coated particles, the rotation of the particles becomes sluggish, which is easy to detect with laser optics.

A sunspot with centre twice the size of Earth: (Register and Login to read Full News)

:: BUSINESS ::

Tax-free withdrawal limit for PF may rise:

• The Labour Ministry has sought a fourfold increase in the threshold limit for tax deduction on provident fund withdrawals, from the existing Rs. 50,000 to Rs. 2 lakh, in the coming Budget.

• This means that if the proposal gets a go-ahead, one can withdraw provident fund savings of up to Rs. 2 lakh without any tax deduction even if one has not completed five years of continuous service.

• At present, provident fund withdrawals of more than Rs. 50,000 before completing five years in service attracts income tax of up to 34.608%.

• The Centre in 2016 increased the threshold limit of PF withdrawal for deduction of tax (TDS) from Rs. 30,000 to Rs. 50,000.

• The Labour Ministry has also requested the Finance Ministry to remove tax deduction of 34.608%, known as the maximum marginal rate, for workers who do not furnish PAN card details.

• While a 10% tax is deducted for workers disclosing PAN details, 34.608% tax is deducted for workers who do not have a PAN card.

• Guaranteed service of five years in the lifetime of an employee is not available under either Central of State legislations. The said provision may be amended to incorporate five years of (PF) deposits from the first month of contribution.

• The Finance Act of 2015 had first introduced the deduction of income tax on payment of accumulated provident fund balance due to an employee with less than five years of service.

• The Labour Ministry has also sought retrospective service tax exemption for the EPF scheme.EPFO was exempted from the purview of service tax from April 2016.

• The Labour Ministry has now said the exemption should come into effect retrospectively arguing that EPF is a social security scheme and doesn’t come in the category of ‘banking and financial services.

Centre to scan misleading ads for traditional medicine:

• The Ministry of AYUSH has tasked the advertising industry watchdog to proactively identify potentially misleading advertisements of traditional systems of medicine in domains such as ayurveda, yoga and naturopathy.

• Usually, the Advertising Standards Council of India (ASCI) scans the advertisements based on complaints it receives. ASCI has been given a self-monitoring mandate by the Ministry of AYUSH to identify potentially misleading advertisements in the AYUSH sector and process complaints through its Consumer Complaints Council (CCC).

• These will include advertisements on ayurveda, yoga and naturopathy, unani, siddha and homoeopathy medicines, treatment and related services.

• The arrangement would ensure that any advertisement making claims for diseases and disorders, in violation of the notification issued by our ministry for indications that have been prohibited from claiming, are immediately brought to our attention.

•  The watchdog will comprehensively monitor these advertisements across 900 publications and 500 TV channels. The Ministry will also redirect complaints against misleading advertisements to ASCI which will be reviewed using ASCI’s code and guidelines.

• The MoU also requires ASCI to report to the Ministry of AYUSH, advertisements in potential violation of the Drugs and Magic Remedies (Objectionable Advertisements) Act, 1954 and Rules thereunder as well as non-compliance of ASCI’s CCC recommendations for the Ministry of AYUSH to take further action.

SEBI to review the norms for removal of independent directors in listed companies: (Register and Login to read Full News)

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