Current Affairs Nov 14-15, 2015

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 Current Affairs Nov 15, 2015

Siril Verma

01. Import tariff value on gold and silver reduced: The import tariff value, which is the base price at which the customs duty is determined to prevent under-invoicing , was reduced by the Union Government from USD 373 to USD 354 per 10 gms following weakness in global markets.

02. FM to head National Investment and Infrastructure Fund (NIIF): Finance Minister will be heading the governing council of National Investment and Infrastructure Fund (NIIF). The fund aims to maximize the economic impact by augmenting financing of infrastructure development in the country.

03. Foreign Inflows, India ranks 7th: India has ranked 7th in the world in respect of flow of foreign funds into the country. Indian market continues to be a favoured destination for foreign funds given its fairly strong macroeconomic prospects and potential for growth.

04. LPG subsidy for Higher Income People to be stopped: For households, whose annual income exceeds Rs.10 lakh per annum, the LPG subsidy will be stopped. The government is considering to bring in an ordnance shortly.

05. G-20 leaders meet held in Turkey: The leaders of G-20 nations met in Turkey and discussed economic growth and climate change. The meet was overshadowed by the Paris bomb attack which took place before the summit.


06. PM Modi calls for global efforts to check black money menace: Speaking at the G-20 leaders summit in Turkey, PM Modi has called for a global effort to check black money menace. He also sought immediate implementation of IMF quota reforms to give the emerging markets, such as India a greater say in the global trading system.

07. Hike in Upper class travel by Railways : As part of the cess imposed for Swacch Bharat campaign, travel by First Class and all AC classes by trains will go up by 4.35% . According to an estimate, the service tax levy and the Swachh Bharat cess are expected to fetch about 1,000 crore rupees in a year. Annual earnings for railways from the passenger segment are estimated to be at about 35,000 crore rupees.

08. Silver medal for India at the 2015 World Junior Badminton Championships: Ace shuttler Siril Verma has won a silver medal at the 2015 World Junior Badmintion Championships held at Lima, Capital city of Peru. In the final match he lost to a Taipei player.

Current Affairs Nov 14, 2015

Syed Akbaruddin

01. PAN card to become costlier by Re.1/= : Consequent upon imposition of Swach Bharat cess of 0.5% the cost of PAN card will henceforth become Rs.107/= instead of Rs.106/= . The new cess was announced last week by the government and it will levy a surcharge of 0.5 per cent on all taxable services from November 15.

02. 2015 Asia Pacific Economic Co-operation (APEC) meet to be held in Philippines: APEC meet for the year 2015 will be held in Manila, the capital city of Philippines. The theme of the summit would be “Building Inclusive Economies, Building a Better world” . APEC currently has 21 member countries.


03. India and Bangladesh sign agreement: India and Bangladesh has recently signed the Standard Operating Procedure (SOP) agreement which will improve the bilateral trade between the two countries by reducing the logistics cost.

04. New Permanent Representative of India at United Nations (UN) : Syed Akbaruddin has been appointed as the new permanent representative of India at The UN. Earlier, before taking up this assignment, he served as Additional Secretary in the Ministry of External Affairs. (MEA)


05. AMRUT Action plans for 81 cities approved : Union Government has approved Rs.5748 crores for the Atal Mission for Rejuvenation and Urban Transformation for 81 cities in 5 states of Tamil Nadu, Madhya Pradesh, Jharkhand, Odisha and Mizoram.

06. Tamil Nadu plans to spend Rs.3250 crores for solving water problem: The Government of Tamil Nadu has proposed to spend Rs.3250 crores under AMRUT scheme to tide over the water problem found in the urban cities of the state. Besides, a Rs 34-crore investment has been proposed for providing sewerage network services in Vellankani.

07. India’s Navy Boeing P-8 I dedicated to the nation: The Long Range Maritime Patrol aircraft , P-8 I was dedicated to the nation at INS Rajali, Arakkonam. The P-8I aircraft is equipped for long range anti submarine warfare, anti -surface warfare, intelligence, surveillance and reconnaissance in support of broad area, maritime and littoral operations.