1)Petrol, diesel prices to be Fixed daily:- From May 1, petrol and diesel prices will change every day in sync with international rates, much like what happens in most advanced markets.
State-owned fuel retailers — Indian Oil Corp. (IOC), Bharat Petroleum Corp. Ltd. (BPCL) and Hindustan Petroleum Corp. Ltd. (HPCL), — which own over 95% of the nearly 58,000 fuel outlets in the country, are likely to launch a pilot scheme for daily price revision in five select cities from May 1 and gradually extend it all over the country.
These are termed as Market Linked rates.
What is the Current Practice :- State fuel retailers currently revise rates on the 1st and 16th of every month, based on average international price in the preceding fortnight and the currency exchange rate.
2)National Transportation Planning and Research Centre:- National Transportation Planning and Research Centre (NATPAC) was originally established by the Government of Kerala in 1976 to set right the traffic and transportation problems faced in the State.
NATPAC was converted as an autonomous research centre in the field of traffic and transportation and was brought under the umbrella of the Department of Science, Technology and Environment, Government of Kerala in 1982.
It is an institution under Kerala State Council for Science, Technology and Environment (KSCSTE,2002), is only research and development institution in the country which works on multi – modal system of transportation covering road, rail, water, seaport and airport.
3) A Term Hooch Came in Today's Newspaper : Remember that Hooch is a colloquial term for alcoholic beverages.
4)Global interest in PSLV soars:=
Background:- After the Successful Launching of 104 Satellites in which 101 were Foreign and 3 Were India, The Interest of the World Community has increased in PSLV.
PSLV C-37 was used for the Launch of 104 Satellites.
96 from the US and one each from Israel, the UAE, the Netherlands, Switzerland and Kazakhstan.
PSLV first injected its main payload Cartosat- 2 series, India's indigenously built earth observation satellite. It was followed by two other nanosatellites of Isro ---- INS-1A and INS-1B.
5)Centre iles curative plea on AFSPA:-
Background:-In July 2016 Supreme Court Gave a Verdict that :- Every death caused by the armed forces in a disturbed area, whether the victim is a dreaded criminal or a militant or a terrorist or an insurgent, should be thoroughly enquired into.
Supreme Court Said that There is No Case of Absolute Immunity.
By this Verdict the Cloak of Secrecy that was giving immunity to the Security Personnels in these Disturbed areas and was giving unlimited power was somewhat controlled.
Armed Forces (Special Powers) Act of 1958 (AFSPA).
Then There was a Review Petition on the Judgement but that was off No Use.
So Now Govt. has Filed a Curative Petition Plea on AFSPA Verdict.
What is a Curative Petition:= It is the last judicial resort available for redressal of grievances in court which is normally decided by judges in-chamber. It is Petition after the Review Petition.
6)Hold fiscal deicit at 3% till FY20, says N.K. Singh panel:=
Background:- Fiscal Responsibility and Budget Management (FRBM) Review Committee chaired by former Revenue Secretary N.K.Singh.
What the Panel has Recommended?:=
The Centre can take a pause on the fiscal consolidation front over the next three years by maintaining a fiscal deficit to GDP ratio of 3% till 2019-20.
The panel has advocated reaching a fiscal deficit to GDP ratio of 2.8% in 2020-21, 2.6% the subsequent year and 2.5% in 2022-23.
The FRBM law enacted in 2003 had originally envisaged attaining a fiscal deficit of 3% of GDP by 2008-09, but amendments over the years had revised the year for achieving the same target to 2017-18.
Read Complete Recommendations of N.K Singh Panel Here
7)Jharkhand set to enact GST law:=Jharkhand may soon become one of the first states to clear the State Goods and Services Tax law following Parliament’s clearance of the four central laws necessary to implement GST from this July.
*****Special Note:- Do not Confuse it with Assam being the First State to agree on the GST Law. That agreement was the Part of the Constitutional Amendment Process in which Half of the States must agree to some Constitutional Amendment Acts (Special Majority with State Ratification).
Questions For Today :=
1) Revise Gupta Priod and mention the Society Economy and Polity ?
2)What is Fiscal Activisim? (Taken From Economic Survey)
3)Middle Income Group Scheme ??
Thanks a Lot !! Please Do Share the Article !! We Did our Job You Do Yours !!
State-owned fuel retailers — Indian Oil Corp. (IOC), Bharat Petroleum Corp. Ltd. (BPCL) and Hindustan Petroleum Corp. Ltd. (HPCL), — which own over 95% of the nearly 58,000 fuel outlets in the country, are likely to launch a pilot scheme for daily price revision in five select cities from May 1 and gradually extend it all over the country.
These are termed as Market Linked rates.
What is the Current Practice :- State fuel retailers currently revise rates on the 1st and 16th of every month, based on average international price in the preceding fortnight and the currency exchange rate.
2)National Transportation Planning and Research Centre:- National Transportation Planning and Research Centre (NATPAC) was originally established by the Government of Kerala in 1976 to set right the traffic and transportation problems faced in the State.
NATPAC was converted as an autonomous research centre in the field of traffic and transportation and was brought under the umbrella of the Department of Science, Technology and Environment, Government of Kerala in 1982.
It is an institution under Kerala State Council for Science, Technology and Environment (KSCSTE,2002), is only research and development institution in the country which works on multi – modal system of transportation covering road, rail, water, seaport and airport.
3) A Term Hooch Came in Today's Newspaper : Remember that Hooch is a colloquial term for alcoholic beverages.
4)Global interest in PSLV soars:=
Background:- After the Successful Launching of 104 Satellites in which 101 were Foreign and 3 Were India, The Interest of the World Community has increased in PSLV.
PSLV C-37 was used for the Launch of 104 Satellites.
96 from the US and one each from Israel, the UAE, the Netherlands, Switzerland and Kazakhstan.
PSLV first injected its main payload Cartosat- 2 series, India's indigenously built earth observation satellite. It was followed by two other nanosatellites of Isro ---- INS-1A and INS-1B.
5)Centre iles curative plea on AFSPA:-
Background:-In July 2016 Supreme Court Gave a Verdict that :- Every death caused by the armed forces in a disturbed area, whether the victim is a dreaded criminal or a militant or a terrorist or an insurgent, should be thoroughly enquired into.
Supreme Court Said that There is No Case of Absolute Immunity.
By this Verdict the Cloak of Secrecy that was giving immunity to the Security Personnels in these Disturbed areas and was giving unlimited power was somewhat controlled.
Armed Forces (Special Powers) Act of 1958 (AFSPA).
Then There was a Review Petition on the Judgement but that was off No Use.
So Now Govt. has Filed a Curative Petition Plea on AFSPA Verdict.
What is a Curative Petition:= It is the last judicial resort available for redressal of grievances in court which is normally decided by judges in-chamber. It is Petition after the Review Petition.
6)Hold fiscal deicit at 3% till FY20, says N.K. Singh panel:=
Background:- Fiscal Responsibility and Budget Management (FRBM) Review Committee chaired by former Revenue Secretary N.K.Singh.
What the Panel has Recommended?:=
The Centre can take a pause on the fiscal consolidation front over the next three years by maintaining a fiscal deficit to GDP ratio of 3% till 2019-20.
The panel has advocated reaching a fiscal deficit to GDP ratio of 2.8% in 2020-21, 2.6% the subsequent year and 2.5% in 2022-23.
The FRBM law enacted in 2003 had originally envisaged attaining a fiscal deficit of 3% of GDP by 2008-09, but amendments over the years had revised the year for achieving the same target to 2017-18.
Read Complete Recommendations of N.K Singh Panel Here
7)Jharkhand set to enact GST law:=Jharkhand may soon become one of the first states to clear the State Goods and Services Tax law following Parliament’s clearance of the four central laws necessary to implement GST from this July.
*****Special Note:- Do not Confuse it with Assam being the First State to agree on the GST Law. That agreement was the Part of the Constitutional Amendment Process in which Half of the States must agree to some Constitutional Amendment Acts (Special Majority with State Ratification).
Questions For Today :=
1) Revise Gupta Priod and mention the Society Economy and Polity ?
2)What is Fiscal Activisim? (Taken From Economic Survey)
3)Middle Income Group Scheme ??
Thanks a Lot !! Please Do Share the Article !! We Did our Job You Do Yours !!
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