Current Affairs Oct 31, 2015

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Najib Shah

01. India’s GDP likely growth was around 7.3% between July- September: World’s top rating agency Moody’s has given the data that India’s GDP was around 7.3% during July- September. Earlier it had predicted a growth rate of 7% and the present rating is more than the expected. However, Moody’s has informed that the growth rate was less than the potential of 9-10%.

02. Cumulative gains for Government is Rs.5000 crores for Phase 3 auctions of Radio: FM radio auction Phase III options is likely to result in the exchequer becoming richer by Rs.5000 crores. The amount is significantly higher than what the government earned in the first two phases together, which is estimated to be around Rs 1,500-1,700 crore.

03. 9 crore 4G customers in India by 2018: India is likely to have 9 crore 4G customers by 2018 and the number of 4G smart phones are likely to touch 18 crores, as per the report of Bank of America Merrill Lynch. Presently Airtel has launched 4G services in 296 cities with 35000 base stations and the tariffs for 4G are at 3G prices.

04. 31st October is National Unity Day: Every October 31st is being observed as the National Unity Day to mark the occasion of the birth anniversary of Sardar Vallabhbhai Patel. Run for unity involving all people from many walks of life is being organized on this day.

05. BRICS nations sign agreement: BRICS nations signed the Moscow Declaration for co-investment of resources for supporting multilateral research and development projects. It will also address common regional socio-economic challenges.

06. China abandons its one child policy: By scrapping its one child policy, China has now allowed the couples to have two children. It has been said that this revised decision has been taken to balance the development of population and also to tackle the challenge of ageing population. Earlier, in 2013, it had allowed minority ethnic families and rural couples, who had their first issue as a girl, to have one more child.

07. Najib Shah appointed as Chairman of Central Board of Excise and Customs (CBEC): Najib Shah has been appointed as Chairman of CBEC. CBEC comes under the Department of Revenue, Ministry of Finance and is the nodal agency for all indirect taxes. CBEC was established by the Britishers in 1855.

08. PSUs told to meet Capital Expenditure targets: All the Public Sector Undertaking units have been advised by the Government to meet the Capital Expenditure targets or be ready to pay higher dividends to the Governments. The total Capital Expenditure targets is Rs.3.18 lakh crores to the PSUs.