MoU singed between RD Ministry and ISRO for geo-tagging assets
A Memorandum of Understanding (MoU) was signed between the Rural Development Ministry and ISRO, Department of Space for geo-tagging the assets created under MGNREGA in each gram panchayat.Around 30 lakh assets are created annually across the country under the rural job scheme. The geo-tagging of such assets will be done on a mission mode.
Key Facts :
The asset created under MGNREGA and other schemes will be completely geo-tagged with photograph through Bhuvan Mobile Platform by Gram Rozgar Sahayak or Junior engineer.
The move will check leakages and promote effective mapping of terrain for future developmental works. It will also promote planning and execution of projects in a transparent manner.
The move comes after the Prime Minister during a review meeting recently had underlined for online recording and monitoring of assets to check leakages and for effective mapping of terrain for future developmental works.
Huge amount of funds are now flowing through the 14th Finance Commission to Gram Panchayats, more and more quality assets will be added through MGNREGA in rural areas which will lead to poverty reduction.>Login To Save for Revision
- Noted Malayalam theatre artist Kavalam Narayana Panicker passes away
Veteran Malayalam theatre doyen Kavalam Narayana Panicker passed away on 26 June 2016 in Thiruvananthapuram, Kerala. He was 88. He was dramatist, theatre director and poet.
He has written over 26 Malayalam plays, many adapted from classical Sanskrit drama and Shakespeare. He played a pioneering role in bringing idiom into Malayalam theatre.
Kavalam Narayana Panicker
He was born on 28 April 1928 in Kavalam, Kerala. He obtained a degree in Economics from S D College, Alappuzha and later a Bachelor of Law degree from Madras Law College.He had started his career as a lawyer in 1955 for six years but later devoted himself to art and literature.
He has written over 26 Malayalam plays. His notable works include Madhyamavyayogam (1979), Kalidasa’s Vikramorvasiyam (1981), Shakuntalam (1982), Karnabharam (1984), Bhasa’s Uru Bhangam (1988), Swapnavasavadattam and Dootavakyam (1996).
He has worked in many countries, including the former Soviet Union. In Greece he worked with Greek artists on a production of the Ilyayana, a fusion of the Indian Ramayana and the Greek epic Iliad.
Awards and Honours: Sangeet Natak Akademi Award in Direction (1983), Sangeet Natak Akademi Fellowship (2002), Padma Bhushan (2007).>Login To Save for Revision
- AIIB approves first loans for projects in four countries
China sponsored Asian Infrastructure Investment Bank (AIIB) has approved first set of loans totalling US 509 million dollars to finance projects in Bangladesh, Pakistan, Indonesia and Tajikistan. The four projects were approved in Board of Directors meeting held in Beijing.
Projects that have been approved :
Bangladesh: USD 165 million loan for a Power Distribution System Upgrade and Expansion Project in Bangladesh.
Indonesia: USD 216.5 million loan for a National Slum Upgrading Project, expected to be co-financed with the World Bank.
Pakistan: USD 100 million loan to finance the Shorkot-Khanewal Section of National Motorway M-4 in Pakistan will be co-financed by Asian Development Bank (ADB) and the United Kingdom's Department for International Development (DFID).
Tajikistan: USD 27.5 million loan for the Dushanbe-Uzbekistan Border Road Improvement Project in Tajikistan, will be co-financed with the European Bank for Reconstruction and Development (EBRD) .
Asian Infrastructure Investment Bank (AIIB)
It is an international financial institution that aims to support the building of infrastructure in the Asia-Pacific region. The bank has 37 member states. It was proposed as an initiative by the government of China.
The capital of the bank is USD 100 billion, equivalent to two-third of the capital of the Asian Development Bank and about half that of the World Bank.>Login To Save for Revision
- Chile wins 2016 Copa America Football tournament
Chile has retained the Copa America Football title beating Argentina in the penalty shootout. In the Final played at New Jersey this morning, Chile defeated Argentina by 4-2 goals in the penalty shootout as in the regulation period both teams failed to score goal.
With this Chile became the fourth nation to win at least two consecutive Copa America titles, after Uruguay, Argentina and Brazil while Argentina lost it's third consecutive final following a loss to Germany at the 2014 World Cup and Chile at the 2015 Copa America.
Golden Boot (top scorer) : Eduardo Vargas (Chile, 6 goals) .
Golden Ball (best player) : Alexis Sanchez (Chile).
Golden Glove (best goalkeeper) : Claudio Bravo (Chile).
Copa America Football title :
Copa America which was formerly known as the South American Football Championship (Campeonato Sudamericano de Fútbol in Spanish) is an international football competition.
It is the oldest international continental football competition. The competition determines the continental champion of South America. Since the 1990s, teams from North America and Asia have also been invited to participate.
The present tournament format was restructured in 1993 which involves 12 teams. These teams compete at venues in a host nation over a period of one month.>Login To Save for Revision
- Lionel Messi retires from international football
Following Argentina's loss to Chile in the Copa America final, ace footballer Lionel Messi announced that he would no longer play for the national team.
Messi’s retirement came as a surprise to many as he is just 29 years of age. Argentina lost to Chile on penalties after both sides failed to break the deadlock.
His nation had counted on him to bring home its first major title since 1993 but Messi, a five-time FIFA player of the year, winner of four Champions League titles and eight Spanish La Liga crowns with Barcelona, was crushed.
Comment : Messi is the only football player in history to win five FIFA Ballons d'Or, four of which he won consecutively, and the first player to win three European Golden Shoes. He is often considered the best player in the world and rated by many in the sport as the greatest of all time.>Login To Save for Revision
- TCS to be levied above Rs 2 lakh only if payment in cash
Central board of direct taxes (CBDT) has issued a new circular which says Tax collected at Source (TCS) levy will not be applicable when cash part of the payment for certain goods or services is less than Rs 2 lakh, even when the total payment is more than this amount.
For example in a case where a good worth Rs 5 lakh is sold for which the consideration amounting to Rs 4 lakh has been received in cheque and Rs 1 lakh has been received in cash, no tax is required to be collected at source as per Section 206C (1D) as the cash receipt does not exceed Rs 2 lakh.
The Income Tax Department has been levying 1 per cent TCS on cash purchase of bullion in excess of Rs 2 lakh and jewellery in excess of Rs 5 lakh since July 1, 2012 and there has been no change in that position. However, Finance Minister Arun Jaitley in his Budget 2016-17, had imposed TCS of one per cent on goods and services purchased in cash in excess of Rs 2 lakh.
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- Noted Malayalam theatre artist Kavalam Narayana Panicker passes away