Current Affairs, News & Facts of 30 Oct 2015

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  • Taxation of income from off-shore Rupee Denominated Bonds


    Taxation of income from off-shore Rupee Denominated Bonds


    • The Reserve Bank of India has recently permitted Indian corporates to issue rupee denominated bonds outside India. The matter of taxation of income from such bonds under Income-tax Act, 1961 has been considered by the Government. 
    • So far as taxation of interest income from these INR off-shore bonds in the case of non-resident investors is concerned, such bonds will attract a withholding tax of 5 per cent, which would be applicable in the same way as it is applicable for off-shore dollar denominated bonds. 
    • It has also been decided  that the Capital gains, arising in case of appreciation of rupee between the date of issue and the date of redemption against the foreign currency in which the investment is made, would be exempted from capital gains tax. Legislative amendment in this regard will be proposed through the Finance Bill, 2016. 
    • As per the RBI guidelines, a company can raise up to USD 750 million per annum under the automatic route through rupee denominated bonds (popularly known as masala bonds). To issue bonds beyond this, it will require to take prior approval of the RBI.
  • I&B Ministry now bans documentary on beef  titled "Caste on the Menu Card"


    I&B Ministry now bans documentary on beef  titled "Caste on the Menu Card"


    • The Information and Broadcasting Ministry has banned the screening of a documentary film on beef eating practices made by students of the Tata Institute of Social Sciences (TISS). The which was slated to be screened at the Jeevika Asia Livelihood Documentary Festival 2015 in New Delhi.
    • The documentary, titled Caste on the Menu Card, was the only one among the 35 sent to the I&B Ministry to be denied exemption for screening during the Documentary Festival.
    • Documentaries for public screening require an exemption certificate, which exempts you from having a censor certificate but I&B Ministry denied the exemption to Caste on the Menu Card. 
    • In all, 35 documentary films, including 19 competitive documentaries and 16 non-competitive documentaries, were sent to I&B Ministry seeking exemption from certification for these documentaries in which all other were granted exeptions but "Caste on the Menu Card" was not given exemption from certification.
    • The documentary was made by Ananyaa Gaur, Anurup Khillare, Atul Anand, Reetika Revathy Subramanian and Vaseem Chaudhary, all students of Mumbai-based TISS.The documentary was inspired by a “row on the TISS campus” over a proposed ban on beef and pork. 
  • China rover sets record for longest stay on Moon 


    China rover sets record for longest stay on Moon


    • China's first lunar rover, Yutu, has been operating on the moon for almost two years, setting a record for the longest stay by a rover. It has stayed longer than Soviet Union's 1970 moon rover Lunokhod 1, which spent 11 months on the moon.
    • Yutu was deployed and landed on the moon via China's Chang'e-3 lunar probe in 2013 making China the third country after the Soviet Union and the US to carry out such a mission. 
    • Yutu experienced a mechanical control abnormality in 2014, but it was revived within a month and, though it is unable to move, it continues to collect data, send and receive signals, and record images and video.

    Other records set by Chinese space agency :-

    • The launch of Dongfanghong-1, China's first satellite, in 1970 made China the fifth country to launch a domestic satellite using a domestic rocket, following the Soviet Union, the United States, France and Japan.
    • China launched its manned space program in the 1990s and successfully sent Yang Liwei, the country's first astronaut, into orbit on the Shenzhou-5 spacecraft in 2003.
    • China is planning to be the first country to land a lunar probe on the far side of the Moon, or "dark side of the Moon," which is never visible to Earth. 
  • John Magufuli elected as President of Tanzania


    John Magufuli elected as President of Tanzania


    • The son of a peasant farmer, John Pombe Magufuli and renowned political leader of the ruling Chama Cha Mapinduzi party  has won the Tanzanian presidential election.
    • With this victory John Magufuli became fifth President of Tanzania since its independence from United Kingdom in 1961. John Magufuli defeated his rival Edward Lowassa, by securing 58.46 per cent of the total votes while his rival got 39 per cent votes.
    • Mr. Magufuli’s victory extends the rule of the the current ruling party Chama Cha Mapinduzi, or C.C.M. which has dominated Tanzania, under one name or another, since independence in the 1960s.

    Facts to know about John Pombe Magufuli :-

    • Magufuli was once a maths and chemistry teacher, he went on to become an industrial chemist - and was awarded a doctorate in chemistry from Dar es Salaam University in 2009.
    • He has served as a Member of Parliament since 1995 and was Deputy Minister of Works from 1995 to 2000, Minister of Works since 2010, Minister of Lands and Human Settlement from (2006 -2008).
    • He became known as "The Bulldozer" for driving a programme to build roads across the country. He performed push-ups at rallies to refute allegations by the opposition that he was physically unfit for the top job.
  • Raif Badawi wins EU’s Sakharov Prize 2015


    Raif Badawi wins EU’s Sakharov Prize 2015


    • Raif Badawi, the Saudi blogger and activist who has been sentenced to 1,000 lashes and 10 years in jail for insulting Islam and for cyber crime has been selected for European Union's Sakharov prize for human rights and freedom of thought for the year 2015. This month in London, he was given the International Writer of Courage award and was co-recipient of the PEN Pinter Prize.
    • Raif Badawi, author of the website Free Saudi Liberals was given 10 years in jail and 1000 strikes. The strikes can only be given 50 at a time. Then after a recovery 50 more. Raif's beautiful family including 3 kids escaped Saudi Arabia after death threats. They currently reside in Canada and miss him terribly.
    • A Jeddah court handed Badawi his sentence in 2012 after he criticized the Saudi clergy in a blog and called for changes in the way religion is practiced in Saudi Arabia.
    • Saudi Arabia follows strict Wahhabi form of Islam. It does not permit the public worship of other faiths or allow them to maintain places of worship inside the country.In a new law last year, it included atheism as a terrorist offence.

    About the Prize :-

    • The Sakharov Prize, officially known as the Sakharov Prize for Freedom of Thought has been named after Soviet scientist and dissident Andrei Sakharov, was established in December 1988 by the European Parliament as a means to honour individuals and groups of people who have dedicated their lives to the defense of human rights and freedom of thought.
    • A shortlist of nominees is drawn up by the Committee on Foreign Affairs and the Committee on Development, with the winner announced in October.The prize is accompanied by a monetary award of 50,000 Euros.
    • The first prize was awarded jointly to South African Nelson Mandela and Russian Anatoly Marchenko. Three Sakharov laureates were subsequently awarded the Nobel Peace Prize: Nelson Mandela, Aung San Suu Kyi, and Malala Yousafzai.
  • India-Africa Forum Summit adopts framework for strategic cooperation and Delhi Declaration


    India-Africa Forum Summit adopts framework for strategic cooperation and Delhi Declaration


    • On the concluding day of the third India-Africa Forum Summit 2015, India and Africa have adopted a 'Delhi Declaration 2015' and 'India-Africa Framework for Strategic Cooperation'.
    • India will also offer a grant assistance of USD 600 million which includes an India-Africa Development Fund of USD 100 million and a Health Fund of USD 10 million.
    • The event was the largest diplomatic event India has staged to date, with more leaders attending the summit than the 39 who came for the 1983 Commonwealth Heads of Government Meeting hosted by Indira Gandhi.

    Delhi Declaration-2015

    • The Delhi Declaration called for continued collaboration in the fields of peace and security.
    • Strengthening of the UN counter-terrorism mechanism and enhancing cooperation and coordination to combat terrorism in all its forms and manifestations.
    • The declaration said that India and Africa looked forward to finalizing an ambitious and comprehensive climate change agreement which will be based on the principles of equity and common but differentiated responsibility.
    • On maritime security, the declaration said India would work to support Africa, as appropriate, in the implementation of the AU 2050 Africa’s Integrated Maritime (AIM) Strategy in accordance with International Maritime Law.
    • India and Africa also agreed to work towards creating conducive environment for trade facilitation in accordance with the WTO Bali Trade Facilitation Agreement.

    India-Africa Framework for Strategic Cooperation

    • It reaffirmed strong commitment to work together for a comprehensive reform of the United Nations system, including the Security Council, to make it more regionally representative, democratic, accountable and effective.
    • Africa and India agreed to support establishment of Small and Medium Enterprises and Medium and Small Industries to promote employment creation and income generation for people of both sides. Ensured access to affordable and quality medicines and treatment, particularly generic medicines.

2nd Aug

Exam Date : 02-08-2016

Exam Time : 07:15:00

Ques/Time : 6/5 min


Exam Date : 01-08-2016

Exam Time : 06:00:00

Ques/Time : 8/5 min

Todays test

Exam Date : 22-07-2016

Exam Time : 05:10:00

Ques/Time : 3/5 min