Daily Current Affairs Updates– 29th February 2016:
Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.
1.Union Finance Minister Presented Finance Budget Today:
Union Minister of Finance Arun Jaitley presented the Union Budget for the financial year 2016-17 in the Parliament on February 29, 2016. In the new budget the Finance Minister laid a clear emphasis on the Agricultural sector and rural area development.Here are the 10 important takeaways from the Union Budget 2016-17 as presented in the Parliament.
· The Finance Minister has announced that the 7thPay commission and the implementation of the OROP (One Rank One Pension) in defence services will affect the financial sources.
· A new scheme was introduced to provide LPG connections at highly subsidised prices to BPL (Below Poverty Line) population.
· The Union Government announced Rs. 38,500 Crore for MGNREGA which was launched by the UPA government in 2004.
· The Finance Minister has proposed allowing 100% FDI (Foreign Direct Investment) in the food processing industry, for food grown in India.
· To curb black money, the Finance Minister announced that a window will be provided for declaring such undisclosed assets, and only 7.5% of the value will be charged as tax ensuring no further investigations will be made into it.
· In a historic steps, the Finance minister announced that the classification of Planned and Non-Planned budget will be done away with from this financial year.
· The Minister announced Krishi Kalyan Cess, funds from which will be spent on agricultural sector.
· The Finance Minister announced the ambitious plan of the Union Government to achieve 100% Rural electrification by 2018
· In the Budget speech the Finance Minister predicted a growth rate of 7-7.5% of the GDP for the financial year 2016-17.
· The Finance Minister also proposed setting up a committee to review the FRBM Act.
2.Budget Focuses on developments of Agriculture, farmers, Women, Rural Areas: PM
· Prime Minister Narendra Modi has said the budget has focused on development of agriculture, farmers, women and rural areas.
· He said,the housing sector will be strengthened to boost the dream of Housing for All. He said, important steps have also been taken to double the income of farmers by 2022.
· The budget also reflectsgovernment’s commitment to electrify villages by 2018.
· Parliamentary Affairs Minister M. Venkaiah Naidu has saidthe budget proposals have laid out a road map for all round development of the country based on 9 pillars prioritized for investment and 9 elements of tax reforms.
· The Minister said by providing 100 per cent deduction from taxation of profits on construction of affordable housing, the budget aims to achieve the PrimeMinister’s dream of Housing For All by 2022.
3.Railways to lay 7 Km Tracks per day in 2016-17:
· The Indian Railways is set to lay 7 km of tracks everyday in 2016-17 as against an average of 4.3 km per day in the last Six Years, as part of its capacity augmentation plan.
· According to an official, theRailways is expected to lay 13 km per day in 2017-18, and 19 km per day in 2018-19.
4.Secretaries Recommend Extending RTE till Class-XII:
· A Group of Secretaries set up by PM Narendra Modi has recommended extending the scope of Right to Education (RTE) Act to make education till Class-XII a fundamental right.
· The group of 12 secretaries on education and health suggested a time frame of 3 years to implement the change.
· The RTE currently considers education till class-VIII as a fundamental right.
5.PM Modi to go to Saudi Arabia, US as part of 3-nation visit next month:
· Prime Minister Narendra Modi will travel to Saudi Arabia as part of his three-nation trip from March 30 during which he will also visit Washington to attendNuclear Security Summit, where his Pakistani counterpart Nawaz Sharif is also scheduled to be present.
· Starting his visit with Belgium onMarch 30 for India-EU Summit, Modi will travel to Washington for NSS from March 31 before his two-day bilateral visit from April 2 to Saudi Arabia, one of the most powerful Arab countries, where he will hold talks with the Saudi leadership on key regional and bilateral issues, including trade and energy.
6.Niira Radia enters healthcare business:
· PR veteran and former corporate lobbyist Niira Radia has ventured intohealthcare business through a new entity Nayati Healthcare, whose first hospital was inaugurated in Mathura by Ratan Tata.
· Inaugurating the 351-bed multi super specialty hospital. Nayati Healthcare& Research, a multi super specialty healthcare chain, has decided to start
operations in Tier II and Tier III cities.
7.Ajay Shankar Committee recommendations on Prior Permission and Regulatory Mechanisms:
· The Government-constituted expert committee to examine the Possibility of Replacing Multiple Prior Permissions with Pre-Existing Regulatory Mechanism submitted its recommendations in the fourth week of February 2016.
· The Expert Committee was constituted by Department of Industrial Policy and Promotion (DIPP) in April 2015 to examine the possibility of replacing multiple prior permissions with a pre-existing regulatory mechanism with adequate safeguards.
· The 11 member committee was headed by Ajay Shankar, Former Secretary of DIPP.
· Punjab government imposed a ban on the sale of army uniforms across the state.
· Any person who wants to buy the uniform would have to submit a self-attested copy of his identity card and phone number with the shopkeeper. This record would be duly maintained along with date of sale in the record register of the shopkeeper.
· These orders would remain in force till 21 April 2016 and next course of action will be decided afterwards.
· Besides, the state also banned use of red and blue coloured stickers used by police on vehicles. The government has also prohibited the use of plates of political parties on vehicles with immediate effect.
· Foreign Minister Hashim Thaci was elected as president of Kosovo by the Members of Parliament amid the protests.
· He succeeded Atifete Jahjaga as head of state after winning the required simple majority in voting held in Pristina.
· PM Narendra Modi approved the Constitution of the Bank Board Bureau and appointed former CAG Vinod Rai as its Chairman.
· The Body will advise the government on top-level appointments at Public Sector banks (PSB) and help address other Issues.
· The Move comes amid the PSBs facing a problem of Bad Loans, with their collective gross NPAs worth 4 Lakh Crore.
11.Rozle Prezelj elected Chairman of IAAF Athletes’ Commission:
· Slovenian high-jumper Rozle Prezelj was elected theChairman of the International Association of Athletics Federations (IAAF) Athletes’ Commission in Monaco.
· Prezelj took over as Chairman of the commission from Frank Fredericks with immediate effect.
· On the other hand, Britain’s marathon world record-holder Paula Radcliffe was nominated Vice Chairwoman of the commission.
· Dinesh Sharma, Additional Finance Secretary and India’s Governor to the International Fund for Agriculture Development (IFAD) was unanimously elected as theChairperson of the Governing Council of IFAD for a period of two years in its 39th Session held on 17 February and 18 February 2016 in Rome, Italy.
· The Governing Council Session of IFAD was marked by special focus on inclusive growth and on the investments required to meet the sustainable development goals in the realm of eradicating poverty and hunger.
BUSINESS AND ECONOMY:
· Tata Sons Chairman Emeritus Ratan Tatahas invested an undisclosed amount inhome rental startup NestAway.
· This marks hisninth investment in a startup in 2016
· Founded in 2015, thestartup turns unfurnished houses into fully furnished apartments and provides them on rent in Cities including Bengaluru, Delhi, Gurgaon, Noida, Ghaziabad, Hyderabad and Pune.
14.Flipkart Value marked 27% down by Morgan Stanley:
· Morgan Stanleyhas markeddown its stake in Indian E-Commerce giant Flipkart by 27% to $103.97 per share from $142.24 per share.
· This brings Flipkart’s recently claimed valuation of $15.2 billion reportedly down to $ 11 billion.
· Morgan Stanley in 2013 had picked up Shares in Flipkart during its Series D Funding and currently holds around 2% stake in the Startup.
· UltraTech Cement, part of theAditya Birla Conglomerate is set to buy JaiPrakash Associates Cement plants for an enterprise value of $2.4 billion.
· The agreement will increaseIndia’s biggest Cement Maker’s installed annual capacity by one-third to 90.7 million tonnes.
AWARDS AND HONOURS:
· British National Newspaper, The Guardian’s Tom Jenkinswas named as theSports Photographer of the Year at the 2015 Picture Editor’s Guild awards.
· His Portfolio included a photograph ofRafael Nadal sweating in a match against Brazil’s Thomaz Belluchi during Wimbeldon in 2015anda shot of Wembley’s tribute to France following the Paris Terror attacks among others.
17.Resul Pookutty became first Asian to win Golden Reel Award:
· Famous sound designer Resul Pookutty on 27 February 2016 became the first Asian to win the award for Best Sound for documentaryIndia’s Daughterat theMotion Picture Sound Editors’ (MPSE) 63rd annual Golden Reel Awards.
· The competing films/ television documentaries in the list included Beware Baltimore,Chef’s Table,Deadliest Catch, andThe Undrafted,Mad Max: Fury Road,The Martian,Star Wars: The Force AwakensandThe Revenantamong others.
· 88th Academy Awards, popularly called Oscar Awards, were conferred The award ceremony was held at the Dolby Theatre in Hollywood, Los Angeles.
· Chris Rock hosted the ceremony and Indian Bollywood actress Priyanka Chopra made her debut on the Oscars red carpet and presented the award.
· The Oscar Awards for the year 2016 were presented by the Academy of Motion Picture Arts and Sciences (AMPAS) in 24 categories
ü Best Picture:Spotlight
ü Best Director:Alejandro González Iñárritu for The Revenant
ü Best Actor:Leonardo DiCaprio for The Revenant
ü Best Actress:Brie Larson for Room
SCIENCE AND TECHNOLOGY:
· Suzuki Kango,a 22 year old student at Japan’s Tohoku University of Art and design hasmade a Wooden Clock that writes the time on a panel every minute.
· The Clock took Six months and 407 hand carved wooden moving pieces to complete.
· It uses four magnetic drawing board to write the time in 24-hour Format
20.Flexible light-weight solar cells developed:
· Scientists at the Massachusetts Institute of Technology in the US have developed flexible solar panels, which they claim to be the thinnest and the lightest.
· These Solar panels can be placed on any surface including soap bubbles, Smartphone’s or clothes.
· The Scientists said that these solar cells could help to power the next generation of portable electronic devices.
21.Printer that prints videos developed:
· A US Startup has developed a $130 printer ‘LifePrint’ which lets user print Videos, Apple Live Photos, Vines and GIFs in 30 seconds.
· Connected through an app, the printer prints normal photos as well as Augmented Reality Photos from both Android and iOS SmartPhones.
· The Printed Pictures come alive when placed in front of the SmartPhone’s Camera.
· India and the US could jointly explore Mars and who knows an Indian astronaut could also head to the Red planet on a joint mission.
· India’s maiden mission to the Red Planet, Mangalyaan, has opened the eyes of the world on ISRO’s capabilities at undertaking low cost, high value inter-planetary mission.
· Charles Elachi, director of the Jet Propulsion Laboratory or JPL, a part of NASAand an institution better known for piloting most of the American planetary exploration efforts with rovers like Curiosity, says India and the US could jointly explore Mars and even invited India to send astronauts to the Red Planet.
23.Jet Airways to launch Delhi-Muscat flight from March:
· Expanding its presence in the Gulf market, private carrier Jet Airways announced that it will launch a flight service to Muscat from here next month.
· The Mumbai-based airline currently operates three daily flights, one each from Mumbai, Kochi and Thiruvananthapuram, to the Oman capital.
· The addition of the new flight, scheduled to be launched on March 21, from Jet Airways strategic hub in Delhi will further strengthen the airline’s growing international network and enhance flight connectivity from northern India, Saarc and Asean to the Gulf region, the airline said in a release.
· Sony has filed new patents for a gaming glove that would presumably be used in conjunction with its upcoming PlayStation VR headset.
· The patents were filed with the United States Patent& Trademark office in 2014, but were only just published publicly this week, which is when NeoGAF picked up on them.
· The patent description for the glove mentions that it has a flex sensor to identify and track finger positions. The patent covers gaming, entertainment, sports-related activities, or even human-to-human contact such as a virtual simulation of a business handshake.
· Indian Cricketer Sachin Tendulkarhas joinedICC and UNICEF’s ‘Team Swachh’ initiative to build a social movement for sanitation and toilet use, aiming for an open defecation-free India.
· Sachin, who is the Goodwill Ambassador for South Asia, will be joined by other cricketers for the initiative, which will lend support to the government of India’s‘Swachh Bharat Mission’
26.Frampton unifies World Super-Bantamweight Titles:
· International Boxing Federations’s (IBF) Super bantamweight World Champion Carl FramptondefeatedWorld Boxing Association’s(WBA) Super bantamweight World Champion Scott Quigg.
· Frampton now holds both the IBF and WBA Super bantamweight titles after winning the 12 round bout.
· Notably, Frampton, who is undefeated in his 22 match Career, handed Quigg his first Professional Career Defeat.
· Hosts Bangladesh beat Sri Lankaby 23 runs at Mirpur.
· Man of the Match:Sabbir Rehman (Bangladesh)
28.Basanta Bahadur Rana wins gold in 50km race walk at National Championships:
· Olympian Basanta Bahadur Singh Rana clinched the gold medal in men’s 50km race walk eventon the second and final day of the National Championships.
· Delhi walker Rana clocked 4 hours seven minutes 24 seconds to finish first but he must have been disappointed as he could not touch the revised Olympics qualification time of 4:06:00 on a fast Jaipur course which saw as many as seven men’s 20km race walkers breached Rio Games cut-off mark.
· Manchester Citywon their Fourth Capital One Cup after defeating Liverpool 3-1 on Penalties.
30.Former Maharashtra Minister Nihal Ahmed Maulavi Mohammed Usman died
· Socialist leader Nihal Ahmed Maulavi Mohammed Usman died in Nashik. He was 90.
· He was popularly known as Nihalbhai and was the first mayor of the Malegaon Municipal Corporation.
· He was the state president of Janata Dal (Secular). He was a former Minister of technical and higher education of Maharastra.
· He was elected as legislator in the state Assembly for nearly three decades.
· he contested to the State assembly elections for 10 times from 1960 to 1995 and was elected all the times But in 1999, he contested for Loksabha and was defeated.
· He was associated with veteran socialist leaders like SM Joshi, NG Gore, former prime ministers VP Singh, Deve Gowda, veterans like Madhu Dandavate, Bapusaheb Kaldate and George Fernandes.
· Famous Tamil Comedy actor Kumarimuthu diedin Chennai. He was 77.
· He acted more than 500 films in Kollywood and did a variety of roles through his humorous acts.
· He acted in some of the popular films which areOomai Vizhigal, Idhu Namma Aalu, Pudhu Vasantham, Idhayam, Sahadevan Mahadevan and Aanazhagan.
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