Current Affairs 30 apr-1st May, 2015

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Current Affairs 1st May, 2015

1. Lok Sabha recently passed the Finance Bill 2015 through voice vote. The Bill contains the government’s tax proposals for the fiscal FY16. The Finance Bill is introduced immediately after the presentation of Budget.

2. Finance minister recently clarified that minimum alternate tax (MAT) would not be applicable on foreign companies’ earning from capital gains on securities, royalty, fee on technical services and interest, providing a huge breather to foreign investors.

3. Governments of India and Japan signed an agreement for doubling of Japanese investment into Indian firms in the next five years, and boosting two-way trade.

4. Kapil Dev Tripathi, an Indian Administrative Officer (IAS) officer of the Assam cadre (1980 batch), has been appointed secretary in the ministry of petroleum and natural gas. Tripathi replaces Saurabh Chandra.

5. Regulator SEBI has changed rules where Mutual Funds are now required to conduct a stress test of liquid funds and money market MF schemes at least once a month.

Current Affairs 30th Apr, 2015

1. The Union Cabinet has cleared the Smart Cities Mission — under which 100 smart cities would be built. The aim of the mission is to more efficiently utilise available assets, resources and infrastructure to enhance quality of urban life and provide a clean and sustainable environment.

2. Centre has given nod to the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), with an outlay of Rs 50,000 crore. AMRUT is the new avatar of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).

3. The nationwide transport strike called by various trade unions against the Road Transport and Safety Bill is likely to affect normal life across the country. The Bill proposes to introduce an independent agency called the National Road Safety Authority of India, which will be an independent, legally empowered and accountable expert lead agency.

4. The Union Cabinet has approved the long-pending – and controversial – Land Boundary Agreement with Bangladesh. The swap will involve handing over 17,000 acres of land to Bangladesh in return for 7,000 acres in 111 enclaves in West Bengal, Assam, Tripura and Meghalaya.

5. Srinagar-born novelist Siddhartha Gigoo on 28 April 2015 won the 2015 Commonwealth Short Story Prize for Asia region for his work Umbrella Man, a tale of surreal meditation on mental health and the environment.