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Current Affairs for IAS Exams - 26 July 2014

Budget passed in Lok Sabha by voice vote

The Lok Sabha on Friday passed the Finance Bill, 2014 by voice vote giving effect to the legislative tax proposals in the Budget.
In Budget debate ahead of its passage in Lok Sabha, the Finance Minister reiterated the Government’s intent to fulfil its promise of bringing back money stowed away in foreign banks.
Mr. Jaitley also said that the NDA Government will not be a high-tax government as it intends to create more jobs, industry and give a fillip to economy.
Referring to the GAAR, the Minister said he will take a final call on contentious issue at a later date and said to revive investor's sentiment which had been damaged by retrospective amendment to the Income Tax.
Union Finance Minister Arun Jaitley clarified that the higher long term capital gains tax rate of 20 per cent on non-equity mutual funds passed as part of the Budget would come into effect from July 1o onwards instead of April 1. The Provision to raise the holding period for unlisted shares and debt funds units to 36 months from 12 months for them to qualify as long-term capital assets will also take effect July 10 onwards.

President Pranab Mukherjee, who completed two years in office, inaugurated a museum with fibre-glass statues of former Presidents within the Rashtrapati Bhavan.
The Museum has an interactive zone where visitors can learn more about former Presidents and see audio-video clippings related to them.
The President also inaugurated a ‘Knowledge Hub’ in the Dr. Rajendra Prasad Sarvodaya Vidyalaya within the Rashtrapati Bhavan and 16 serviced apartments. The ‘Knowledge Hub’ will be a space for innovative teaching and learning practices and use collaborative, interactive pedagogical practices to help teachers connect to the world outside their classroom.

With the Centre refusing to intervene to stop the Union Public Service Commission from issuing admit cards for the Civil Services (Preliminary) Examination, aspirants resumed their agitation for withdrawal of the Civil Services Aptitude Test (CSAT).
A group of Civil Services aspirants agitating against ‘language discrimination’ tried to march towards Parliament but were stopped by the police which later took them into preventive custody.
The protestors, who had clashed with the police on Thursday night in North Delhi, were stopped outside Central Secretariat metro station from where they were taken to Parliament Street Police Station.
Minister of State in the Prime Minister’s Office Jitendra Singh said in the Rajya Sabha that no student would suffer on account of the alleged bias. He also said “We do not wish to link language with skill,”.
The Upper House was adjourned twice on the issue as members demanded a statement from Prime Minister Narendra Modi. The MPs wanted the candidates be allowed to take the preliminary examination aptitude test in regional languages as well.

India summoned the Deputy High Commissioner of Pakistan and lodged a strong protest against the delay in the ongoing 2008 Mumbai terror attacks trial in Pakistan.
The trial of the seven Pakistani accused, going on in a Pakistan anti-terrorism court, was adjourned for the seventh time on Wednesday, leading India to lodge a “strong diplomatic protest” with Islamabad.
Indian officials also reiterated the “high importance India attaches to bring to justice all those responsible in Pakistan for the Mumbai terrorist attacks”.
The last two hearings in the trial could not take place because of the presiding judge being on leave. Earlier, on four occasions, trial could not be held owing to the prosecution lawyers being absent over security reasons.

The Union Human Resource Development (HRD) Ministry has advised all States and Union Territories (UTs), barring Jammu and Kashmir, to take appropriate action for the inclusion of “third gender’’ children among socially and educationally backward classes for admission in educational institutions under the Sarva Shiksha Abhiyan (SSA).
Supreme Court ordered to treat and grant legal recognition to the “third gender”. The Court had directed the Centre and States to take steps to treat transgenders as socially and educationally backward classes and extend reservation for admission in educational institutions and for public appointments.
The affirmative action provided for transgenders under the SSA is aimed at pushing up their literacy levels, which is around 44 per cent as opposed to the national average of 74 per cent as recorded in the 2011 Census.

Attorney-General Mukul Rohatgi, on a reference from Speaker Sumitra Mahajan, holding that the Congress was not eligible for the status.
Mr. Rohatgi said the Congress lacked the requisite one-tenth strength of the Lok Sabha (55 in a House of 545). Mr. Rohatgi’s opinion is not binding on the Speaker.
The Leader of the Opposition, which is of the rank of a Cabinet Minister, is a member of panels that select candidates for key Constitutional posts.

Sources: Various News Papers & PIB

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