Current Affairs for IAS Exams – 10 November 2015

:: National ::

Growth outlook not hit: Fitch

In what should be some relief to the Modi government, Fitch Ratings has said the BJP's poor show in the Bihar election will not change the ratings agency's medium-term growth forecast for the country.
“The BJP's defeat does not change our view on the medium-term economic outlook for India. The loss may complicate politics for the central government, but we don't expect major implications on the economic front,” said Thomas Rookmaaker, Director, Fitch Ratings' Asia-Pacific Sovereigns team.
The poll results were declared on Sunday, and the Sensex on Monday began trading down on fears that the decisive loss would affect the BJP's chances of passing key legislation at the national level.
However, after sinking more than 600 points over the day, the Sensex recovered to close at 143.8 points down.
“While the Bihar verdict may have been a negative surprise to a section of the market, the ruling party is less likely to deviate from the reform path, and if at all there be a change, it could be to-wards increasing the pace of the reforms and their execution,” Anand James, Co-Head, Technical Research Desk, Geojit BNP Paribas said.

Pollsters come together to form regulatory body

Six leading polling agencies are in talks to form an Indian Polling Council, a self-regulatory industry body of pollsters which hopes to bring about greater transparency and improved standards in opinion polling.
The five other polling agencies confirmed that they had been discussing the formation of the Council, but some asked that their names not be mentioned until the plans were finalised.
The Council will create a standard declaration form which will require all participating pollsters to state the sample size, methodology and demographic details, margin of error, who com-missioned the poll and other details. If they choose not to, then the onus is on the media whether they want to use the poll.

Doctors warn against overindulgence

The festival of lights brings with it health risks that need care and attention, say city doctors. They also warn that an increase in intake of sugar and oil-rich delicacies, erratic sleep and air and noise pollution can prove to be life-threatening for those already suffering from lifestyle diseases.
In fact, it is crucial to raise awareness and implement preventive measures to en-sure that Diwali becomes a joyful experience. Talking about the consumption of unhealthy food during Diwali.
Sweets consumed during Diwali are usually made of vanasapati ghee, which is high in trans-fat and reduces good cholesterol, besides increasing bad cholesterol.” Dr. Agarwal added that high sugar content causes obesity and can be harmful for diabetics, even if consumed in small amounts. People also tend to eat out often, which basically includes deep-fried food that is high in sodium content.
This can cause an increase in blood pressure and subsequently stress out the heart. All these can lead to an added risk of heart attacks, heart failures and sudden cardiac arrests in people with existing heart ailments and blockages. While celebrations are good, over-indulgence can ruin thefestivities. Caution must be exercised and a balanced diet must be consumed.

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:: International ::

Suu Kyi's party on course for landslide

Myanmar's ruling party conceded defeat in a general election on Monday as the Opposition led by democracy figurehead Aung San Suu Kyi appeared on course for a landslide victory that could en-sure it forms the next government.
By late afternoon, vendors out-side the headquarters of the National League for Democracy (NLD) in Yangon were selling red T -shirts with Suu Kyi's face and the words “We won.”.
The election was a landmark in the country's unsteady journey to democracy from the military dictatorship that made the former Burma a pariah state for so long. It is also a moment that Suu Kyi will relish after spending years under house arrest following thecountry's 1990 election, when the NLD won a landslide victory that was ignored by the junta.
But although the election appears to have dealt a decisive de-feat to the USDP, a period of un-certainty still looms over the country because it is not clear how Suu Kyi will share power easily with the still-dominant military.
Even if the NLD gets the majority it needs, Suu Kyi is barred from taking the presidency herself under the Constitution written by the junta to preserve its power. Suu Kyi has said she would be the power behind the new President regardless of a charter she has derided as “very silly.”

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:: Business And Economy ::

Now , Telangana eyes share in e-commerce pie

After Kerala and Karnataka, it has become the turn of Telangana State to feel the pinch over loss of tax revenue from the growing e-commerce transactions.
Though the State, more so its cosmopolitan capital Hyderabad, contributes significantly to the booming e-tail-ing business, the sunrise sector hardly brings in any additional tax revenues under the existing tax laws.
The annual sales turnover of one leading e-commerce company in Hyderabad alone is estimated at Rs. 2,500 crore. There are other players too. Thus the government, sources revealed, has been exploring possibilities, including amending provisions of its VAT Act, suitably to bring e-commerce transactions under the State tax net.
Governed by Central Sales Tax laws, e-commerce companies like Amazon and Flip-kart among others, which were encouraged to set up their fulfilment centres in Hyderabad do not charge VAT on the goods supplied to the consumer States. As facilitators of these transactions, they are only liable to pay ser-vice tax under the CST. Under the existing tax laws, when goods move from one State to other, taxes accrue to the State from which goods originate.
But with emergence of e-commerce as a popular B to C business model, manufacturing States are walking away with all the tax revenue while the consumer States are left out of VAT though the sales actually take place in their territory where the goods are delivered, they point out.
The proposed GST regime offers hope to address the e-commerce concerns of consuming States by bringing both goods and services under the same tax rates. The taxes on inter-state supply of goods and services under the GST would go to the consuming State.

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:: Sports ::

Manohar to replace Srinivasan as ICC head

Board of Control for Cricket in India president Shashank Manohar will be the new BCCI representative at the International Cricket Council. He will replace former BCCI president N. Srinivasan who was elected the first chairman of the ICC in June 2014.
Former BCCI and ICC president Sharad Pawar has been named the alternative representative in case Mr. Manohar is unable to attend The house praised Mr. Srinivasan’s contributions as the ICC chairman.
The BCCI accepted in principle the proposed rules on conflict of interest and other amendments to its constitution.
It also appointed Justice (retd.) A.P. Shah as the ombudsman, who will look into all conflict of interest disputes. Another important decision was that it would meet every quarter and make professional appointments to strengthen the governance of the BCCI based on the report to be submitted by Deloitte.