August Current Affairs (14-31)

National affairs
Parliament approves nuclear liability bill
The parliament approved a bill to open up the country's $150 billion nuclear power market, sealing legislation crucial for the entry of U.S. firms like General Electric and Westinghouse Electric.
The bill is crucial for firms such as U.S.-based General Electric and Westinghouse Electric, a subsidiary of Japan's Toshiba Corp, which are reluctant to step in without clarity on accident compensation.

                                        File photo of Kudankulam Nuclear plant in Tamil Nadu

August 1-7 Weekly Current Affairs

National Updates
Centre seeks to spend 54,589 crore more this fiscal
The government today sought parliamentary approval for additional spending. The total supplementary demand for grants is pegged at 68,294.30 crore, but the actual cash outgo will be 54,588.63 crore because of 13,705.09 crore in internal savings.Part of the extra demand is for unforeseen expenditure such as a special police force for Naxal-hit areas, but much of it is for rural development, education and to compensate oil companies for selling fuel below market rates.

July 15-24 Current Affairs

National affairs
Three year plan structure for GST Regime
Goods and services tax (GST), which is to replace existing VAT, service tax, excise duties and central sales tax among others, will be placed from April 1, 2011. Pranab Mukerjee has unveiled a three-rate structure for GST which would finally converge into a single-rate regime of 16% on all goods and services.
 Under the GST regime, there will ultimately be a flat tax rate of 16% — 8% for central GST and 8% for state GST and the proposed three tier structure for the new indirect tax regime-  20 per cent for goods, 16 per cent for services and 12 per cent for essential items. As per the formula, the Centre and the states will equally share t he revenue.

June 23-30 Current Affairs

NATIONAL UPDATES

India, Canada sign civil nuclear deal

INDIA concluded an agreement for Cooperation in Peaceful Uses of Nuclear Energy, to enable civil nuclear commerce between the countries. Canada is the ninth nation to enter into such an agreement with India, after India obtained its crucial waiver from the Nuclear Suppliers’ Group in 2008. The other eight are the US, Russia, France, the UK, Argentina, Kazakhstan and Mongolia. 

CAT -10 Canara Bank PO General Awareness for Bank exams

1. What is the repo rate currently?
a) 5%
b) 6%
c) 5.25%
d) 3.75%

June 8-14 Current Affairs

NATIONAL UPDATES

Sri Lanka assures India of political settlement, 7 pacts signed

The visit by Sri Lanka’s president assured India of a political settlement for minorities and quicker rehabilitation of the displaced Tamils as New Delhi announced a host of initiatives for reconstruction of war-hit provinces of the island country including building 50,000 houses, rail network and a thermal power plant. And it provided both sides the opportunity to signal a readiness to take the bilateral relationship to a new level. It was the first time in a quarter century that New Delhi played host to a Sri Lankan head of state who arrived without the burden of a raging ethnic conflict back home.

The two sides signed seven pacts to boost bilateral cooperation across a range of areas, including security, energy, railways and cultural exchange.

Highlights of Joint Declaration: