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Madhya Pradesh has become the first state in the CCEA approves Central Sector Scheme SAMPADA
country to formally switch to a January-December
The Cabinet Committee on Economic Affairs (CCEA),
financial year format, with the state Cabinet approving
chaired by the Prime Minister Narendra Modi, on 3
the proposed move.
May 2017 approval the re-structuring the schemes of
The next Budget session of the state Assembly will be Union Ministry of Food Processing Industries (MoFPI)
held in December 2017 or January 2018, while the next under Central Sector Scheme SAMPADA.
financial year will start from January 2018.
SAMPADA stands for 'Scheme for Agro-Marine
The Central government had constituted a high-level Processing and Development of Agro-Processing
committee under former Chief Economic Advisor Clusters'. The objective of SAMPADA is to supplement
Shanker Acharya to examine "desirability and agriculture, modernize processing and decrease agri-
feasibility" of having a new financial year. The report waste.
hasn't been made public yet.
The scheme was approved for the period 2016- 2020.
Due to the non-availability of option of second SAMPADA, with an allocation of Rs 6000 crore,
dispensary, the dependant members of family are is expected to leverage investment of Rs 31400
often deprived of medical benefits as till now, insured crore and will handle 334 lakh MT agro-
persons (IP) had an option of choosing one dispensary produce valuing Rs 104125 crore.
for self and family. It will benefit 20 lakh farmers and will generate
530500 direct/ indirect employment in the
By introducing the concept of One IP- Two
country by the year 2019-20.
Dispensaries, Employee's State Insurance Corporation
SAMPADA is an umbrella scheme
(ESIC) gives an option to an IP to choose two
incorporating ongoing schemes of the Ministry
dispensaries, one for self and another for family
like Mega Food Parks, Integrated Cold Chain
through an employer.
and Value Addition Infrastructure, Food Safety,
All about Aadhaar based Online Claim Submission Quality Assurance Infrastructure,
scheme Infrastructure for Agro-processing Clusters and
Creation of Backward and Forward Linkages.
Under this scheme, all EPF Members, who have These schemes aim at development of modern
activated their Universal Account Number (UAN) and infrastructure to encourage entrepreneurs to
seeded their KYC details with Employees' Provident set up food processing units based on cluster
Fund Organisation (EPFO), will now be able to directly
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approach, provide effective and seamless Reports suggest that the ordinance seeks to amend
backward and forward integration for Section 35A of the Banking Regulation Act. This section
processed food industry. of the act empowers the Reserve Bank to issue
directions to the banks in the public interest and
depositors.
Andhra Pradesh gets $160 mn loan from AIIB for
Currently, the Public Sector Banks (PSBs) are saddled
power project
with non-performing assets or bad loans to the tune of
China-sponsored Asian Infrastructure Investment Bank a staggering Rs 6 lakh crore.
approved $160 million loan for a power project in
Non Performing Assets
Andhra Pradesh, the first credit from the bank for an
Indian project. A Non-Performing Asset (NPA) means a credit facility
with respect of which the interest/instalment on the
The Asian Infrastructure Investment Bank (AIIB), in
principal has not been paid for a specific period of time.
which India is the second largest shareholder after
In most cases, debt is classified as non-performing
China, has approved the project with the objective to
when loan payments have not been made for a period
strengthen the power transmission and distribution
of 90 days.
system in Andhra Pradesh, said a bank statement.
To eliminate the problem of bad loans, the Union This development has enabled JCB to serve increasing
Cabinet on 3 May 2017 approved an ordinance to number of tourists and business professionals with
amend the Banking Regulation Act for dealing with the payment options at ATM and POS in India especially
non-performing assets (NPAs) in the banking system. from Asia where JCB has large number of card
members. The total card member base of JCB is about
Details of the ordinance will be revealed after 101 million which spans across 23 countries and
President Pranab Mukherjee gives his assent to an territories.
ordinance to amend the Banking Regulation Act to
resolve the Non-Performing Assets crisis. JCB is a global payment brand and a leading credit card
issuer and acquirer in Japan. JCB launched its card
The promulgation of the ordinance was given a green business in Japan in 1961.
signal during the cabinet meeting chaired by Prime
Minister Narendra Modi.
The set of measures includes the promulgation of an IBBI constitutes Technical Committee to lay down
Ordinance to amend the Banking Regulation Act to give Technical Standards for performance of core services
more powers to Reserve Bank of India (RBI) and its
The Insolvency and Bankruptcy Board of India (IBBI) on
committees to act on behalf of banks while deciding on
4 May 2017 constituted a Technical Committee to lay
NPAs.
down technical standards for performance of core
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services in accordance with Regulation 14 of the IBBI It calls for early identification of stressed assets and
(Information Utilities) Regulations, 2017. timely implementation of a Corrective Action Plan
(CAP) to preserve the economic value of stressed
The committee will be headed by RB Barman,
assets.
Chairman of National Statistical Commission.
In order to ensure that the CAP is finalised and
The Committee will give its recommendation for laying
formulated in an expeditious manner, the new rules
down Technical Standards for the performance of core
specifies various timelines within which lenders have to
services and other services under Insolvency and
decide and implement the CAP.
Bankruptcy Board of India (Information Utilities)
Regulations, 2017. It reiterates that lenders must scrupulously adhere to
the timelines prescribed in the JLF Framework for
finalising and implementing the CAP. This came after
India expected to achieve 7.1% growth in 2017: UN RBI witnessed delays in finalising and implementation
report of the CAP.
A United Nations (UN) on 1 April 2017 released its To facilitate timely decision making, the decisions
annual flagship report titled 'The Economic and Social agreed upon by a minimum of 60 per cent of creditors
Survey of Asia and the Pacific 2017'. The report was by value and 50 per cent of creditors by number in JLF
released by UN Economic and Social Commission for will be considered as basis for deciding the CAP.
Asia and the Pacific (ESCAP).
The stand of the participating banks while voting on the
The report says India is expected to achieve 7.1 per final proposal before the JLF shall be unambiguous and
cent economic growth in 2017 as re-monetisation unconditional.
restores consumption and infrastructure spending
Any bank which does not support the majority decision
increases. The report said India's growth would edge
on the CAP, may exit subject to substitution within the
up to 7.5 per cent next year. These targets will be met
stipulated time line.
by higher private and public consumption and
increased infrastructure spending. Any non-adherence to these rules and timelines
specified under the Framework will attract monetary
At the same time, the report also warns India by saying
penalties on the concerned banks under the provisions
that the country faces heightened risks related to the
of the Banking Regulation Act, 1949.
concentration of bad loans in the public sector banks.
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President Pranab Mukherjee on 5 May 2017 gave his its loyalty programme for both offline and online
assent to an ordinance to amend the Banking shoppers.
Regulation Act for resolution of the non-performing
The offer will be currently available on all YES BANK
asset (NPA) crisis in banking system.
debit cards, and will be extended to all other payment
The Ordinance, which is an amendment in the Banking products of YES Bank in the near future, Cashkaro said
Regulation Act and sent to the President for an in a statement.
approval, was earlier approved by the Union Cabinet
The initiative will now enable YES Bank debit card
chaired by Prime Minister Narendra Modi.
holders to earn customised cashback offers from a
The new ordinance passed by the President Mukherjee wide range of participating online merchants as well as
will be known as Banking Regulation (Amendment) brick and mortar stores, including Forever 21
Ordinance, 2017. The ordinance amends the Section
TataCliq, Chaayos, Junkyard Caf, UrbanClap, Zivame,
35A of the Banking Regulation Act 1949 and provides
Nearbuy, Limeroad, Netmeds, BigBasket, Fortis
greater powers to the Reserve Bank to tackle mounting
Healthworld, The Beer Caf and FreshMenu.
bad loans. The amendments to the Act will help in
effectively resolving the bad loans problem.
Key Facts of the Ordinance SBI to allow ATM withdrawals via e-wallet
Section 35AA of the Banking Regulation Act 1949: As The largest lender State Bank of India will introduce
per the new rules RBI is entitled to issue directions to new facility that would enable withdrawal of cash
any banking company or banking companies to initiate through ATMs using the bank's mobile wallet.
insolvency resolution process in respect of a default
under the provisions of the Insolvency and Bankruptcy However, the bank will charge Rs 25 on every cash
Code. withdrawal from the mobile wallet via ATMs.
Section 35AB: As per the new rules, the RBI can issue If a customer has money in SBI Buddy, our mobile
directions to the banking companies for resolution of wallet, he can now withdraw that money through
stressed assets. ATMs. Also, now customer can deposit cash or
withdraw cash through business correspondent (BC)
Bad loans have ballooned in the system over the past from or into our mobile wallet. These facilities were not
few years, with gross NPAs for state-owned banks at available earlier.
6.07 lakh crore rupees at the end of December 2016.
For cash deposit of up to Rs 1,000 into its mobile wallet
The Finance Minister Arun Jaitley said, in the last few through business correspondents, the bank will levy a
years, the government has taken several structural service charge of 0.25 per cent (minimum Rs 2 and
reforms towards the economy but the stressed assets maximum Rs 8) plus service tax.
remains a challenge. He said, the government and RBI
will work together on expeditious resolution of For cash withdrawal of up to Rs 2,000 from SBI Buddy
stressed assets. through business correspondents, the service charges
will be 2.50 per cent of the transaction value (minimum
The government has enacted insolvency and of Rs 6) in addition to service tax.
Bankruptcy Code to consolidate and amend the laws
relating to reorganization and insolvency resolution of
companies, partnerships firms and individual. Gadkari launches NHAI's first Masala Bond in UK
Banking on the Government's drive to promote a cash- The rupee-denominated offshore bond offered by
less economy, cashback portal Cashkaro.com has tied National Highways Authority of India (NHAI) on the
up with YES Bank to launch card-linked offers as part of exchange is targeted at raising capital for India's
infrastructure projects.
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It will enable citizen engagement for creating a tax
compliant society and citizens would be able to support
Union Government revises Base Year of WPI to 2011-
the Operation Clean Money by taking pledge,
2012 from 2004-05
contribute by engaging and educating fellow citizens,
The Department of Industrial Policy and Promotion and share their experiences and provide feedback.
under Union Ministry of Commerce and Industry on 12
It will enable Transparent Tax Administration by
May 2017 revised the base year of All-India Wholesale
sharing status reports and thematic analysis reports.
Price Index (WPI) from 2004-05 to 2011-12.
In the revised series, WPI will continue to constitute The RBI mandated this in its notification --
three Major Groups namely Primary Articles, Fuel & "Rationalisation of Branch Authorisation Policy-
Power and Manufactured Products. Revision of Guidelines" -- issued on Thursday.
Increase in number of items from 676 to 697. In all, "Domestic scheduled commercial banks (other than
199 new items have been added and 146 old items RRBs) are permitted to open, unless otherwise
have been dropped. specifically restricted, banking outlets in tier 1 to tier 6
centres without having the need to take permission
The new series is more representative with increase in
from RBI in each case," the central bank said in the
number of quotations from 5482 to 8331, an increase
notification.
by 2849 quotations (52 per cent).
"At least 25 per cent of the total number of 'Banking
Prices used for compilation do not include indirect
Outlets' opened during a financial year should be
taxes in order to remove impact of fiscal policy. This
opened in unbanked rural centres."
will make the new WPI conceptually closer to
Producer Price Index. Here are the highlights
A new WPI Food Index will be compiled to capture RBI has widened the role of bank boards, making
the rate of inflation in food items. them responsible for complying with the new
guidelines
Seasonality of fruits and vegetables has been updated
to account for more months as these are now available The RBI removed the restriction on tier-I branches,
for longer duration. which was earlier linked to the number of branches
opened in the unbanked areas.
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The RBI had constituted an internal working group Common use products like hair oil, soaps and
before coming out with the draft guidelines toothpaste will be charged with GST of 18 per cent
instead of present 22-24 per cent tax incidence.
The final guidelines issued on 19 May are operational
with immediate effect Milk and curd will be exempted from taxation when the
Goods and Service Tax.
YES Khushi Home Loans has partnered with more than Small petrol cars will face 1per cent GST, while diesel-
500 builders across 35 cities and towns across India. powered small cars will attract 3 per cent GST.
YES Bank is also empanelled with the National Housing In addition, bikes with engine capacity of over 350cc,
Bank (NHB) for dispensation of the housing loan which are seen as luxury goods, will see a new cess of
subsidy under the Pradhan Mantri Awas Yojana (PMAY) 3 per cent.
scheme to help customers avail this subsidy scheme.
For coal, there will be reduction of tax from 11.69 per
A sizeable portion of the customer base has received cent to 5 per cent, helping lower the cost of power.
the subsidy in the first eight months of operation.
Similarly, the burden on those buying refrigerators or
washing machines will come down from around 31-32
per cent to 28 per cent.
GST Council announces GST Rates of 1211 items
Slabs
GST Rates of various commodities 5 % - Transport services, Cab aggregates like Ola and
Uber, Restaurants with Rs 50 lakh annual turnover, AC
Foodgrains, cereals and milk will cost less from 1 July
rail travel, Economy Air tickets
as the GST Council decided to exempt these daily-use
commodities from the GST levy. 12 % - Non-AC restaurants that dont serve liquor,
Hotels with room tariffs below Rs 2500, Business class
air travel, Work contracts
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18 % - Hotels with Rs 2500-5000 room rents, Telecom Digital payment wallet service Paytm on 23 May 2017
and Financial Services, AC Restaurants with liquor launched its Payments Bank operations by launching its
license first physical branch in Noida.
28 % - Five-Star Hotels, Movie Tickets, Racing, Betting Paytm Payments Bank will be the first bank in the
on Racing, Casinos country to offer cashbacks on deposits. The bank will
now be expanded to 31 branches and 3000 customer
GST Rates for Services
service points in the first year.
Education, Healthcare and Third Tier Railway Travel will
With this launch, there are now three payments bank
be exempted from GST.
operational in the country, the other two being Airtel
Goods transport and Cab aggregates like Ola and Uber Payments Bank Ltd and India Post Payments Bank Ltd.
will attract a 5 per cent GST. This low GST is due the
As a Payments Bank, Paytm will be able to accept
reason that there is no input tax credit for their key
deposits up to Rs 1 lakh per customer in savings or
input 'fuel'. However, the tax will go up once petrol and
current accounts.
diesel are brought under the GST.
Customers will also be offered zero charges on all
Hotels and restaurants, depending on their services,
online transactions and no minimum balance
will attract different tax rates.
requirement.
Non-AC restaurants and those that dont serve liquor
For Savings Accounts, it will offer an interest of 4 per
will attract 12 per cent GST. Smaller restaurants with
cent per annum in line with the interest rates of all
less than Rs 50 lakh annual turnover can avail of the
leading commercial banks. It will also offer current
composition scheme with 5 per cent GST.
accounts to its millions of merchants.
As for the hospitality industry, those with room tariffs
It will offer Rs 250 cashback to customers depositing Rs
below Rs 2500 will face 12 per cent GST, those with Rs
25000 to Payments Bank account.
2500-5000 rents will face 18 per cent GST and five-star
hotels will face 28 per cent GST. Renu Satti is the CEO of Paytm Payments bank.
A peak rate of 28 per cent will be charged on five Union Cabinet approves abolition of Foreign
services including five-star hotels, movie tickets, racing, Investment Promotion Board
betting on racing and casinos.
The Union Cabinet, chaired by the Prime Minister
Tax on e-commerce was fixed at 1 per cent. Narendra Modi, on 24 May 2017 approved the
proposal to phase out the Foreign Investment
Promotion Board (FIPB).
Paytm launches Payments Bank
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The proposal approved entails abolishing the FIPB and The Central Road Fund (Amendment) Bill, 2017 would
allowing administrative Ministries and Departments to be moved by the Union Ministry of Road Transport &
process applications for Foreign direct investment (FDI) Highways in the ensuing Monsoon Session 2017 of the
requiring government approval. Parliament.
After the amendment, 2.5 per cent of the proceeds of The mobile app of M2I can be accessed through
Central Road Fund (CRF) will be allocated for biometric authentication in addition to the login ID and
development and maintenance of National Waterways password. The application is available on any Android
(NWs) and a reduction in the share provided for and iOS phones.
development of National Highways.
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M2I website also offers an option to pay bills and other invalidating old Rs 500 and Rs 1000 notes as legal
expenses directly to over 100 entities which includes tender. These new notes have additional security
payments like utility, telephone, insurance and prepaid features to avoid counterfeit and printing of fake
mobile recharge among others. currency notes.
Also, NRIs who are customer of any bank globally can At present, the government only mints one rupee coins
opt this M2I website for transferring money to any for public usage.
bank situated in India.
The new one rupee note contains the words
above the words "Government of India" with
Federal Bank launches new trading platform "Selfie" the bilingual signature of Secretary, Ministry of Finance
Federal Bank, in association with Geojit, has launched and with the replica of new rupee one coin with
a new trading platform called Selfie for customers. symbol of 2017 issued with and
capital insert letter L in the numbering panel.
Designed and managed by Geojit, the trading platform
will give its users absolute control over their The surrounding design consists of the picture of 'Sagar
investments with timely research inputs to make sound Samrat' - the oil exploration platform - and authentic
investment decisions. The tablet edition of Selfie for rendering of value in fifteen Indian languages in the
Android and IOS users is available in app stores for language panel with the year figure shown on the
download. centre bottom in international number.
HP India, KPMG launch 'GST solution' for traders, Axis Bank launches app Axis OK for feature phones
MSMEs
Axis Bank has launched Axis OK - a light, multilingual,
HP India and KPMG in India have joined hands to non-data app for basic banking services through
launch a comprehensive 'GST solution' to help feature phones.
transition millions of traders and micro, small and
"The app, which is under 900 KB in size is one of the
medium enterprises (MSMEs) to Goods and Services
lightest banking applications currently available for
Tax (GST) regime.
download," the bank said in a statement today.
The 'GST solution' has the capability to support users
The app empowers users of feature phones to access
to file all their transactions as per the new tax norms in
basic banking digitally, without consuming data.
a convenient manner and also reduce the invoice
reconciliation requirement of large companies. Besides providing the customer with a snapshot bank
accounts and debit/credit cards, the app enables fund
transfers as well as mobile and DTH recharge.
RBI to soon re-introduce one rupee currency notes
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industrial and commercial buildings throughout India, HDFC Life, one of Indias leading private life insurance
ADB said in a release. companies, announced the launch of Indias first life
insurance email bot. The email bot, named SPOK, can
automatically read, understand, categorise, prioritise
Bijlipay launches India's first Bharat QR code and respond to customer emails that are sent to HDFC
recognising POS machine Life, within milliseconds, the company said in a press
release.
Bijlipay, an end to end digital payment solutions
company, is the first Indian Point-of-Sale (PoS) devices This automation initiative will enable HDFC Life to
providing company to enable Bharat QR code on the respond to user queries faster and more efficiently and
screens of its POS machines. According to RBI, the consistently. It will also help generate deeper insight on
Bharat QR Code is the worlds first inter-operable customer needs by identifying patterns in customer
payment acceptance solution. interactions and facilitating HDFC Life to progressively
anticipate and address all customer issues and needs.
Bijlipay firmly believes that its not just providing digital The deployment of SPOK will improve customer
payments devices that will cultivate the habit of experience, while providing the support staff with the
cashlessness in Indians. It will take a lot more of bandwidth to focus on customer satisfaction and
handholding, education & awareness to see the actual delight.
conversions to digital payments in tier II-III cities.
HDFC Life has embarked on this initiative in
collaboration with Senseforth, a startup that offers a
HDFC Life launches Indias first life insurance email wide range of enterprise bots built on its AI platform.
bot SPOK
DoT launches Tarang Sanchar web portal for countries. The signed agreements include agreement
information on Mobile Tower Radiation on shipping and air services.
The Department of Telecom (DoT) on 2 May 2017 These agreements/MoUs were inked during the state
launched 'Tarang Sanchar web portal, a portal that will visit of President of Cyprus Nicos Anastasiades to India
allow people to track radiation emitted from mobile from 25 to 29 April 2017. He was on a visit to India on
towers within a locality and check their compliance the invitation by President Pranab Mukherjee.
with the stipulated norms.
The signed MoUs/Agreements include
The portal will help in clearing myths and
Executive Programme on Culture Education
misconceptions about mobile towers and emissions
and Scientific Cooperation (EPCEC) for the year
from them.
2017-2020
Through this portal, status of the towers will be Work Plan under programme of Cooperation in
available to the users. the field of Agriculture for 2017- 18
Merchant Shipping Agreement
Air Services Agreement
India-Cyprus signed four agreements to boost the
bilateral relations
Industries found illegally dumping e-waste near
India and Cyprus in April 2017 signed four agreements
Ramganga River to pay Rs 1 lakh
to boost the bilateral relationship between the two
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The National Green Tribunal announced on 3 May 2017 The MoC also provide a platform for Indian Railways to
that anyone found dumping electronic waste (e-waste) interact and share the latest development and
on the banks of Ramganga River in Moradabad, Uttar knowledge in the railway sector.
Pradesh would be fined a sum of Rs one lakh as
environment compensation.
Union Cabinet approves National Steel Policy 2017
The decision was taken by a bench headed by NGT
Chairperson Justice Swatanter Kumar. Explaining the The Union Cabinet, presided by the Prime Minister
move, the bench stated that it had been brought to Narendra Modi, on 3 May 2017 gave its approval for
their notice that huge quantity of hazardous e-waste National Steel Policy (NSP) 2017.
generated from various industries in powder form was
being disposed on the bank of the river and the same The Policy embodies the long term vision of the
was duly verified by a joint inspection conducted by Government to give impetus to the steel sector.
Central Pollution Control Board (CPCB). It seeks to enhance domestic steel consumption and
ensure high quality steel production and create a
technologically advanced and globally competitive
RDEL gets approval to exit debt restructuring scheme steel industry.
Reliance Defence and Engineering Limited (RDEL), Key features of the National Steel Policy 2017:
controlled by Reliance Infrastructure (RInfra), on 2 May
2017 said it has received approval for exiting the Create self-sufficiency in steel production by
corporate debt restructuring (CDR) scheme. The providing policy support & guidance to private
approval for exit plan of RDEL was granted by the manufacturers, MSME steel producers, CPSEs
consortium of lenders led by IDBI. Encourage adequate capacity additions
Development of globally competitive steel
According to RDEL, it has received the approval from manufacturing capabilities
the CDR Empowered Group (CDR-EG) for exiting the Cost-efficient production
scheme. The company in a statement said, "As part of
the refinancing scheme approved by the lenders, the Key highlights of the Policy:
door-to-door tenure of RDEL's term loans stands
The NSP 2017 aims to achieve 300 million
extended to 18 years".
tonnes of steel-making capacity by 2030.
It seeks to increase consumption of steel and
major segments are infrastructure,
Union Ministry of Textiles observes Swachhta automobiles and housing. It also seeks to
Pakhwada throughout the country increase per capita steel consumption to the
The Union Ministry of Textiles is observing Swachhta level of 160 Kgs by 2030 from existing level of
Pakhwada from 1 May to 15 May 2017. It was around 60 Kg.
inaugurated by the Ajay Tamta, Minister of State,
Textiles, in Udyog Bhawan, New Delhi.
India-Spain civil aviation Memorandum of
The aim of the fortnight-long observance of Understanding approved
programmes is to spread the message of cleanliness.
The central government on Wednesday approved a
cooperation agreement between India and Spain in the
Union Cabinet approves cooperation between Indian civil aviation sector.
and Japan on Railway Safety The decision to approve the signing of a Memorandum
The Union Cabinet, presided by the Prime Minister of Understanding (MoU) on cooperation in the sphere
Narendra Modi, on 3 May 2017 gave its ex-post facto of civil aviation was taken by the Union Cabinet, whose
approval to the signing the Memorandum of meeting was chaired by Prime Minister Narendra Modi.
Cooperation (MoC) with Japan on Railway Safety.
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Later in a joint press statement, Prime Minister Modi with electrification between Phephana-Indara and
said, challenges in West Asia must be addressed Mau-Shahganj (excluding Indara-Mau) in Uttar Pradesh
through political dialogue. He also said that India and (UP). This electrified doubling line will spread across
Palestine will work together for capacity building and 150 km approximately.
Ramallah will be made an IT hub.
The respective length of the Phephana-Indara and
Mau-Shahganj lines will be 50.53 km and 99.75 km
respectively.
VO Chidambaranar Port Trust and TANGEDCO sign
MoU to upgrade Coal Jetties The estimated cost of the Project will be Rs 1028.95
crore with expected completion cost of Rs 1190.98
The VO Chidambaranar Port (VOCP) on 15 May 2017
crore. The project is likely to be completed in next five
signed a Memorandum of Understanding (MoU) with
years.
Tamil Nadu Generation and Distribution Corporation
Limited (TANGEDCO) for the upgradation of Coal Jetty
I and II.
CCEA approves restructuring plan for Hindustan
As per the MoU, VOCP intends to increase the capacity Organic Chemicals Ltd
of two of its Coal Jetties I and II from 6.25 MTPA to 24
The Cabinet Committee on Economic Affairs (CCEA),
MTPA.
chaired by the Prime Minister Narendra Modi, on 17
The MoU was signed by S Anantha Chandra Bose, May 2017 approved a restructuring plan for Hindustan
Chairman of VO Chidambaranar Port Trust and M Sai Organic Chemicals Ltd (HOCL).
Kumar, Chairman cum Managing Director of
This came following the observation that Hindustan
TANGEDCO.
Organic Chemicals Ltd became a more of a loss making
The estimated cost for upgrading Coal Jetties I & II is and sick Central Public Sector Enterprise (CPSE) under
about Rs 800 crore. the Department of Chemicals & Petrochemicals.
The Cabinet Committee on Economic Affairs on 17 May The Union Cabinet, presided by the Prime Minister
2017 gave its approval for Industry-Academia Narendra Modi, on 17 May 2017 gave a green signal for
Collaborative Mission for accelerating discovery the construction of 10 units of Indias indigenous
research to early development for biopharmaceuticals Pressurized Heavy Water Reactors (PHWR).
- "Innovate in India (13) empowering biotech
The move aims to fast-track Indias domestic nuclear
entrepreneurs & accelerating inclusive innovation."
power programme and give a push to countrys nuclear
The Mission will be funded by the Government of India. industry.
It will be implemented by Biotechnology Industry
The 10 PHWR project will result in a significant
Research Assistance Council (BIRAC), which is a Public
augmentation of nuclear power generation capacity.
Sector Undertaking of Department of Biotechnology
The total installed capacity of the Plants will be 7000
(DBT).
MW.
The Industry-Academia Collaborative Mission would be
a Pan-India program.
BSNL inks pact with Facebook, Mobikwick
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The pacts were signed to commemorate the World which makes investments in a wide range of projects,
Telecommunication and Information Society Day. including transmission and power distribution among
Bharat Sanchar Nigam Ltd (BSNL) and Facebook, under others.
the signed MoU, will provide connectivity for the social
network's 'Express Wi-Fi Program'.
India becomes second largest steel producer in the
The social media website, Facebook through public
world
hotspots offers internet facility in rural parts of the
country, under the Express Wi-Fi Service, with a As per the data released by the International Stainless
partnership with other telecom operators. Steel Forum (ISSF) in May 2017, India overtook Japan
to become the second-largest steel producer in the
The company along with MobiKwik will work together
world in 2016.
to co-create a BSNL mobile wallet to facilitate payment
for its services and products, under the MoU. The data was released by the International Stainless
Steel Forum at a annual conference in Tokyo, Japan.
This is the first time that African Development Bank is The conference that was inaugurated by the Acting
holding its annual meetings in India with a view to Fijian Prime Minister Aiyaz Sayed- Khaiyum saw the
bolstering ties. signing of eight MoUs on the day of inauguration.
These MoUs were signed on 25 May 2017 by five
participating nations, namely Fiji, Cook Islands, Nauru,
PM Modi inaugurates series of projects in Gujarat Samoa and Niue.
List of Memorandum of Understandings India and Germany on 30 May 2017 signed twelve low-
(MoUs)/Agreements exchanged during the State visit profile Memorandum of Understandings
of Prime Minister of Mauritius to India (MoUs)/agreements to boost the bilateral relations
between the two nations. The agreements include
1. MoU for Setting up of Civil Services College in collaboration in the field of digitalization, skill
Mauritius development and cooperation in cyber policy.
2. Agreement on Maritime Security
Besides, the two nations also agreed to resume the free
trade talks between India and the European Union.
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Here's a list of the agreements and JDIs: Information Technology and the Germany's
Ministry for Economic Affairs and Energy
1. Agreement on collaboration between the
Ministry of Skill Development and Germany's
BMBF (Federal Ministry of Education and
India, Spain sign 7 agreements during PM Modi's visit
Research). This agreement will facilitate
training of Indian skill development officers India and Spain on 31 May 2017 signed seven
and cluster managers Memoranda of Understanding (MoU) including one on
2. Agreement between the Ministry of Health cyber security and technical cooperation in civil
and BMG (Federal Ministry of Health) on aviation.
cooperation in health sector
3. Agreement between the AYUSH and BMG The MoUs were signed during Prime Minister Narendra
(Federal Ministry of Health) over cooperation Modi's visit to Spain.
in alternative medicine Highlights of the MoUs
4. JDI between Ministry of Science and
Technology and the BMBF (Federal Ministry of 1. The two sides signed one MoU on transfer of
Education and Research) for the establishment sentenced persons to respective countries.
of an Indo-German Centre for Sustainability 2. One of the MoUs was for the visa waiver
5. JDI between the Ministry of External Affairs scheme for holders of diplomatic passports.
and the German Foreign Office on cooperation 3. Four MoUs were signed between the two
on cyber policy countries on cooperation in organ
6. JDI between the Ministry of Finance and BMZ transplantation, cyber security, renewable
(Federal Ministry for Economic Cooperation energy and civil aviation.
and Development) on Indo-German 4. One MoU was signed between India's Foreign
Development Cooperation Service Institute and Diplomatic Academy of
7. JDI between the Ministry of Commerce and Spain.
Industry and BMWi (Federal Ministry for The agreements were signed after PM Modi held wide-
Economic Affairs and Energy) over ranging talks with Spanish President Mariano Rajoy at
continuation of cooperation in the field of the Moncloa Palace in the Spanish capital.
advanced training of corporate and junior
executives from India PM Modi is the first Indian Prime Minister to visit Spain
8. JDI between the Department of Heavy since 1988. Spain is India's seventh largest trading
Industries and BMBF (Federal Ministry of partner in the European Union. Two-way trade
Education and Research) on cooperation in between both the countries totalled for USD 5.27
vocational education and skill development for billion in the year 2016.
machine tools
9. JDI between the Ministry of External Affairs
and the German Foreign Office on India Mobile Congress 2017 to be held in September
collaboration between Foreign Service
Union Minister for Communications Manoj Sinha on 30
institutes of both the country
May 2017 made the formal announcement of
10. JDI between the Ministry of Railways and
organising India Mobile Congress 2017 (IMC 2017). The
German Ministry of Transport on cooperation
three-day IMC will be held from 27 to 29 September
in railway safety
2017 in New Delhi. The Ministry also launched the logo
11. JDI between the Ministry of Urban
of India Mobile Congress 2017.
Development and German Ministry for
Economic Cooperation and Development on IMC will be Indias first and biggest platform to bring
cooperation for sustainable urban together all stakeholders from the domain of
development Information and Communication Technology (ICT) and
12. JDI on cooperation in the field of digitalisation, take the Indian telecom industry at par with its
empowerment and economic impact between international counterparts.
the Ministry of Communications and
19 | P a g e
This is the first time India is all set to host its own Construction of Coastal Berth - Rs. 142.32 crore
mobile mega show
Flyover at Y Junction - Rs. 82.95 crore
Flyover at North Gate - Rs. 127.45 crore Aadhaar can also be linked into PAN database by
quoting Aadhaar in PAN application form for new PAN
Integrated Centralised Parking for Tractor-Trailers - Rs.
allotment or by quoting Aadhaar in change request
149.31 crore
form used for reprint of PAN card.
20 | P a g e
Prakash Javadekar, Union Minister of Human Resource It has a strike range of more than 2,000 km, is 20
Development, on 2 May 2017 launched the Vidya metres long, weighs 17 tonnes and can carry a payload
Veerta Abhiyan in New Delhi. of 1,000 kg.
Indian army successfully test fires Block-III version of The move will help enhance connectivity to the State
BrahMos cruise missile capital. It will also expand the choice of services for the
air travellers and that too at competitive costs. This will
Indian Army on 2 May 2017 successfully test fired
encourage more international passengers to visit the
Block-III version of BrahMos supersonic cruise missile
city thereby, boosting domestic and international
in the Andaman & Nicobar Islands.
tourism and the socio-economic development of
The land-to-land configuration of BarahMos Block III Andhra Pradesh.
version was launched from a Mobile Autonomous
Launcher (MAL). This was fourth successive successful
launch of the missile. Odishas Sualgiri, Swalgiri communities notified as
Scheduled Castes
21 | P a g e
The Andhra Pradesh government is the registered
proprietor of the GI tag for Banganapalle mangoes,
South Asia Satellite successfully launched
often hailed as the king of fruits.
Indian Space Research organisation (ISRO) on 5 May
2017 successfully launched the South Asia Satellite.
The communication and broadcasting satellite was MP CM Shivraj Singh Chauhan inaugurates world level
launched with Geosynchronous Satellite Launch weapon production unit in Bhind district
Vehicle GSLV F-09 from the second launch pad of the
The world level weapon production unit Punj Lyod
Satish Dhawan Space Centre at Sriharikota at 4.57 pm.
Defence System was inaugurated in Malanpur
The South Asia Satellite was launched after a 28-hour Industrial Area of Bhind district of Madhya Pradesh.
long countdown that started on 5 May 2017 at The unit was jointly inaugurated on 4 May 2017 by
12.57pm. Chief Minister of Madhya Pradesh Shivraj Singh
Chouhan and Union Rural Development Minister
Participating nations: Six of Indias neighbours
Narendra Singh Tomar.
including Afghanistan, Bangladesh, Bhutan, Nepal,
Srilanka and the Maldives were the participants of the The state government claimed that it is the first small
space-based regional communication project. weapon manufacturing unit in private sector in the
country. It has been set up in the joint partnership of
Pakistan is not a part of this regional communication
Indias Punj Lyod and Israel Weapon Industry under the
satellite project because it denied from being a part of
Make in India Programme.
the project.
The joint venture company, Punj Lloyd Raksha Systems,
will help the armed forces in replacing their weapons
Facebook launches Express WiFi in India with sophisticated and high precision products.
Andhra Pradeshs Banganapalle mango gets Every house in Haryana to get a smart ID
Geographical Indication tag
In Haryana, detailed data will be collected of every
The Banganapalle mango in the first week of May 2017 resident and every house would be allotted a smart
received a Geographical Indication (GI) tag. This makes house ID under a special mission.
Andhra Pradesh the proprietor of the variety known for
It was announced by the states Chief Secretary, D.S.
its sweetness.
Dhesi while presiding over a meeting of the Deputy
O P Gupta, the Registrar of Geographical Indications Commissioners of the state through video
Registry, Chennai, accorded the registration following conferencing on 7 May 2017 in Chandigarh. Dhesi
an application from Andhra Pradesh Horticulture stated that the smart house ID would be generated
Commissioner. through a tablet by visiting every house.
22 | P a g e
The work on the project is expected to commence from Powers) Act (AFSPA) for another 3 months. The entire
15 June 2017 and would be completed by 15 August state of Assam besides the bordering areas of
2017. Meghalaya were declared as Disturbed Areas.
The teams of Saksham and e-Numerator would be Moreover, the Union Government also placed three
visiting each house to feed their GPS location in the districts of Arunachal Pradesh- Tirap, Changlang and
tablets and create a smart house ID online thereby Longding and other areas falling under 16 police
linking the houses with biometric. stations bordering Assam as 'disturbed' area under the
AFSPA.
The two films in the series namely Baahubali: The The meeting was convened to discuss an integrated
Beginning and Baahubali 2: The Conclusion had a security strategy and development works in 35 worst-
budget of around Rs 450 crore. affected districts. During the meeting, the Home
Minister explained the each component of the
Four languages in which the film was released include
Acronym and they are S-smart leadership, A-aggressive
Hindi, Tamil, Telugu and Malayalam.
strategy, M-motivation and training, A-actionable
intelligence, D-dashboard-based KPIs (key
performance indicators) and KRAs (key result areas), H-
India organises festival in Egypt to mark Tagore's birth harnessing technology, A-action plan for each theatre
anniversary and N-no access to financing.
Assam declared as Disturbed Area Under AFSPA for Justice Karnan is the first High Court judge to be
3 More Months sentenced to jail by Supreme Court
Assam state was on 6 May 2017 declared as a A seven-judge Constitution bench of the Supreme
'Ddisturbed' area under the Armed Forces (Special Court (SC), headed by Chief Justice J S Khehar, on 9 May
23 | P a g e
2017 sentenced Justice C S Karnan, the Calcutta High venues for the mega event besides the Uttar Pradesh
Court judge, to six months of imprisonment. capital, officials said.
This move is the apex courts first step towards The Election Commission of India has launched
becoming a paperless, digital court. National Contact Centre with a toll free number-
1800111950.
Chief Justice of India, Jagdish Singh Khehar has
proposed to integrate the system with all the 24 high The move would enable any citizen from any part of the
courts and subordinate courts in the country. country to call on the toll-free number and get their
query or complaint addressed at any time of the day in
Hindi or English.
29th edition of CORPAT between India and Indonesia
The callers would be able to enquire on subjects such
begins at Port Blair
as elections, voting dates, electoral roll and online
The 29th series of India- Indonesia Co-Ordinated Patrol registration.
(CORPAT) commenced on 9 May 2017 at Port Blair
under the aegis of Andaman and Nicobar Command.
PM Modi launches Narmada river conservation
The closing ceremony of the CORPAT is scheduled at
project in MP
Belawan, Indonesia from 22 to 25 May 2017.
Prime Minister Narendra Modi launched the river
conservation project Narmada Seva Mission on 15
India to replace its research station in Antarctica May 2017 in Madhya Pradesh.
India has decided to replace its Maitri research station The project is a road-map for steps to be taken for the
in Antarctica with a new one in the next three to four conservation of the Narmada River in the state.
years. The same was announced by Madhavan Nair Speaking on the same before the launch, Modi said
Rajeevan, Secretary, Ministry of Earth Sciences on 9 that the mission will surely have a major impact on the
May 2017. states ecology.
Rajeevan made the announcement while speaking on The event was organised at Amarkantak, in Anooppur
the sidelines of a programme to formally commence district, the place from where the river originates.
ship building by Titagarh Wagons Ltd in Kolkatta, India.
The Prime Minister released a road map for the
He also stated that India is poised to expand its
conservation of Narmada, to ensure it is pollution free.
research activity in the coldest continent and a new
ship, with a special ice-cutting facility, will be procured
for the purpose.
Union Government launches Pneumococcal
Conjugate Vaccine against Pneumonia
India test-fires surface-to-air missile Spyder Union Minister for Health and Family Welfare J P Nadda
on 13 May 2017 launched Pneumococcal Conjugate
India on 11 May 2017 test fired a surface-to-air missile
Vaccine (PCV) against Pneumonia under the Universal
Spyder from a test range in Odisha as part of missile
Immunization Programme (UIP).
launch practice of a series of tests of the short-range
quick reaction. PCV will protect children against severe forms of
pneumococcal disease, such as pneumonia and
Spyder was test fired from a mobile launcher at launch
meningitis. Currently, the vaccine is being rolled out to
complex 3 of the Integrated Test Range (ITR) at
approximately 21 lakh children in Himachal Pradesh
Chandipur and targeted a pilot-less target aircraft.
and in some parts of Bihar and Uttar Pradesh in the first
Spyder (Surface-to-air PYthon and DERby) is an phase.
acquired missile system from Israel which is a short-
These vaccines will later be introduced in Madhya
range, quick reaction surface-to-air missile.
Pradesh and Rajasthan in 2018 and will be eventually
expanded across the country in a phased manner.
25 | P a g e
environment compensation of Rs 5000 besides challan
under the Motor Vehicles (MV) Act.
Home Minister Rajnath Singh inaugurates 2nd NPDRR
meeting in Delhi The order was passed by a bench headed by NGT
Chairperson Justice Swatanter Kumar. The decision
Home Minister Rajnath Singh inaugurated the second
was taken after the parks director informed the
meeting of National Platform for Disaster Risk
tribunal about four animal deaths since January 2017
Reduction (NPDRR) on 15 May 2017 in New Delhi.
despite the installation of sensor-operated automated
The meeting saw in attendance over 1000 eminent traffic barriers to prevent such fatalities.
guests including Union Ministers, State Ministers,
Heads of specialized disaster management agencies
and representatives from private sector organizations. Venkaiah Naidu announces separate 24x7 DD Channel
for Jharkhand
The second meeting of NPDRR will be held from 15 to
16 May 2017 with the theme Disaster Risk Reduction Minister for Information & Broadcasting Venkaiah
for Sustainable Development: Making India resilient by Naidu on 16 May 2017 announced a separate 24x7 DD
2030. channel for the state of Jharkhand. The plan was
announced at the review meeting of the programmes
and initiatives of Ministry of I&B held at Ranchi,
Light Combat aircraft Tejas successfully test-fires air- Jharkhand.
to-air missile
The announcement was a part of a three-year action
Tejas, the Light Combat Aircraft on 12 May 2017 plan of Doordarshan put forward by the state
successfully fired Derby Air-to-Air BVR missile in RADAR government. The meeting was attended by Chief
guided mode, demonstrating an Air-to-Air Beyond Minister Raghubar Das.
Visual Range (BVR) missile firing capability.
The Uttar Pradesh government is planning to declare The MoU was signed at SAC, Ahmedabad by Vice
"no school bag day" on Saturdays in all the state-run Admiral SN Ghormade, AVSM, NM, Director General
schools. Naval Operations and Tapan Misra, Director, Space
Application Centre (SAC).
The proposal for the same was submitted at a meeting
chaired by Deputy Chief Minister Dinesh Sharma on 12
May 2017 in Lucknow.
Suresh Raina launches foundation dedicated to
The move aims to encourage more involvement of wellness of Mother and Child
children in creative activities on those days.
Indian cricketer Suresh Raina launched Gracia Raina
Foundation (GRF) on 15 May 2017, which is dedicated
to creating awareness and work closely with mothers
NGT orders Rs 5000 fine on over-speeding vehicles in and children who require help ranging from physical
Kaziranga and mental issues.
The National Green Tribunal announced on 17 May The announcement was made by the cricketer along
2017 that any vehicle found over-speeding inside the with his wife Priyanka on the occasion of his daughter,
Kaziranga National Park would have to pay an Gracia Rainas first birthday.
26 | P a g e
Reading out the verdict at The Hague, Netherlands, ICJ
President Ronny Abraham said that India has the right
Indian Railways to install CCTV cameras at over 900
to consular access to Jadhav under Vienna convention.
stations under Nirbhaya fund
He said the court considers that it has prima facie
Indian Railways on 15 May 2017 announced to install jurisdiction in the matter as there is a dispute between
CCTV surveillance system at more than 900 stations the parties.
under the Nirbhaya Fund at an approved cost of Rs 500
crore with an aim to strengthen security at railway
premises. Cabinet Minister Inaugurated 15th National Meeting
for Persons with Disabilities
For this purpose, Indian Railways will shortly send out
tenders to install about 19000 high definition CCTV Thawar Chand Gehlot, the Union Minister for Social
cameras at 983 stations across the country to ensure Justice and Empowerment inaugurated the 15th
round-the-clock security to passengers including National meeting of the State Commissioners for
women. Persons with Disabilities (PwD) on 17 May 2017.
The cameras will be installed at platforms and waiting The two-days meet aims to review the implementation
areas while there will be control rooms at stations to of the Persons with Disabilities (Equal Opportunities,
monitor CCTV footages by trained RPF personnel Protection of rights and Full Participation) Act-1995
constantly. and formulate a strategy for its more effective
implementation.
The total cost of the proposal for the period from 1 Anant Geete inaugurates Test Track Facility
January 2017 to 31 March 2020 including Union and developed by Global Automotive Research Centre
State Governments share is Rs. 12661 crore. The
Anant G. Geete, Union Heavy Industries & Public
Government of Indias share during the period is
Enterprises Minister, on 18 May 2017 formally
around Rs. 7932 crore.
inaugurated the Test Track Facility at Oragadam,
Chennai.
ICJ stays Kulbhushan Jadhav's execution till final order The test track facility is developed by Global
Automotive Research Centre (GARC). The facility has
The International Court of Justice (ICJ) on 18 May 2017
been notified to issue certificates under CMVR 1989.
stayed the execution of Kulbhushan Jadhav till its final
decision. Ruling in favour of India, the Court asked The total cost of Test tracks project is Rs. 193.25 crore.
Pakistan to keep it informed about the measures,
including on consular access, taken by it in this
connection.
27 | P a g e
The Global Automotive Research Centre is a body The service providers, SYSCON/JOISTER, which are
working under the National Automotive Testing & R&D already providing JOISPOT brand Wi-Fi in Pune &
Infra Project (NATRiP). Mumbai institutes, have undertaken the project as a
part of their Corporate Social Responsibility (CSR)
activity.
Simbex-17, bilateral naval exercise between India and
Republic of Singapore, begins
Railways Minister Suresh Prabhu launches high speed
Simbex-17, a bilateral naval exercise between India and
Tejas Express
Republic of Singapore commenced on 18 May 2017 in
the South China Sea. Railways Minister Suresh Prabhu on 22 May 2017
launched high speed, air-conditioned Tejas Express, a
Simbex is an acronym for Singapore-India Maritime
premium luxury train that will run from Mumbai to
Bilateral Exercises.
Goa.
Bilateral cooperation between Singapore and India was
This luxury train boasts of several modern facilities on-
first formalised when RSN ships began training with the
board like LED TV and tea/coffee vending machine. The
Indian Navy in 1994.
train will operate five days a week during non-
monsoon period, and three days a week during
monsoon period.
Joint HADR Exercise commences at Naval Station
Karwar Modern Technology: It encompasses ultra-modern
amenities like on-board infotainment, Wi-Fi, CCTV, fire
The Annual Joint Humanitarian Assistance and Disaster and smoke detection facilities, tea and coffee vending
Relief (HADR) Exercise began on 18 May 2017 at Naval machine etc.
Station Karwar.
Aeroplane on Tracks: It is India's first premium train
Named as 'Karavali Karunya', the exercise is being that is capable of running at 200 kms per hour, that is
conducted by Indian Navys Western Naval Command. it is named as 'Aeroplane on Tracks'. However, due to
It involves both professional exchange and actual constraints related to rail tracks, it will run at a speed
disaster response mechanisms which is set on a of 160 kilometres per hour.
Tsunami disaster scenario.
ISRO and NASA collaborate to build Earth-imaging Union Minister of Culture Mahesh Sharma on 23 May
satellite NISAR 2017 launched the Swachh Bharat App with an aim to
involve people actively to become part of Swachh
The Indian Space Research Organisation (ISRO) and the
Bharat Abhiyan (Clean India Movement) in National
National Aeronautics and Space Administration (NASA)
Museum, Delhi.
have collaborated to make a satellite called NISAR. The
satellite will help scientists monitor the Earth like never In this App, the concept of Physical web is
before. implemented.
The expanded form of NISAR is NASA-ISRO Synthetic When one is in the monument or Museum, the app will
Aperture Radar. It is scheduled to be launched in 2021. deliver the message about Swachh Bharat Abhiyan and
will ask the user to report the garbage around him.
The estimated cost of the radar is over 1.5 billion
dollars and it could possibly be the worlds most
expensive Earth imaging satellite.
Environment Ministry and OzonAction organised
Ozone2Climate Technology Roadshow in Agra
MP Government has banned Sand Mining in Narmada Union Ministry of Environment, Forest and Climate
River Change on 23 May 2017 organised Ozone2Climate
Technology Roadshow in Agra. The roadshow was
The Chief Minister of Madhya Pradesh, Shivraj Singh
organised along with the UN Environment
Chouhan, ordered an indefinite ban on sand mining in
OzonActions Compliance Assistance Programme.
Narmada River on 22 May 2017.
The Roadshow was inaugurated by the Secretary,
The Minister made the announcement while
Ministry of Environment, Forest and Climate Change,
addressing a press conference in the states capital,
Ajay Narayan Jha on the sidelines of the South Asia
Bhopal. He stated that the ban on sand mining in river
National Ozone Officers Annual Network Meeting
Narmada will hold till a government-appointed
2017. The Technology Roadshow was organised for the
committee of experts submits its report on scientific
first time as part of the annual network meeting for
mining in the river.
Ozone Officers of South Asia.
29 | P a g e
from Australia to India in the National Museum at Cabinet approves JDI between Germany and India on
Janpath, New Delhi on 23 May 2017. alternative medicine
The exhibit marks the safe return of three Indian stone The Union Cabinet led by Prime Minister Narendra
sculptures including the Seated Buddha, Modi approved the Joint Declaration of Intent (JDI)
Worshippers of Buddha and Goddess Pratyangira between Germany and India regarding cooperation in
from Australia to India. the field of alternative medicine on 24 May 2017.
The sculptures were purchased by the National Gallery The move aims to enhance bilateral cooperation
of Australia (NGA) from the Nancy Wiener Gallery in between the two nations in the areas of traditional and
New York in 2007 and the Art of the Past antique store alternative medicine. The collaborative research,
in New York in 2005. training and scientific capacity building undertaken by
the nations under the declaration would contribute to
increased employment opportunities in the AYUSH
Indias first underwater rail tunnel completed ahead sector.
of schedule
The deadline for the completion of this underwater The definition of cattle includes bulls, bullocks, cows,
tunnel was of July 2017. buffalos, steers, heifers, calves and camels.
30 | P a g e
This three lane 9.15 kilometre bridge has been built Under its impact, rain and thundershower may occur at
over river Lohit, a tributary of the Brahmaputra, that many districts of coastal Odisha and some areas in the
links Dhola to Sadiya in Assam. interior region.
The total length of the Dhola-Sadiya Bridge project, Delhi Metro's Heritage Line inaugurated
including the approach roads on each side, is 28.50 km.
Union Urban Development Minister Venkaiah Naidu on
The length of the bridge itself is 9.15 Km.
28 May 2017 flagged off the first train of the Delhi
It was constructed on BOT Annuity basis at a total cost Metro's Heritage Line. The train will now be open for
of Rs 2056 crore, as a part of the Arunachal Package of public.
Roads and Highways.
This 5.17-km-long corridor Heritage Line has four
It will ensure 24X7 connectivity between upper Assam stations- Kashmere Gate, Dilli Gate, Jama Masjid and
and Eastern part of Arunachal Pradesh. Lal Quila. The Heritage Line is essentially an extension
of Delhi Metro Violet Line that runs between Faridabad
and ITO presently.
UP CM Yogi Adityanath launches JE vaccination drive
With this, the residents of the densely-populated area
in 38 districts of UP
of Old Delhi or Shahjahanabad will now have direct
Uttar Pradesh (UP) Chief Minister Yogi Adityanath on access to commercial centres such as Connaught Place,
25 May 2017 launched a massive immunisation drive in Janpath, offices in Central Secretariat and the satellite
38 districts of the state to eradicate Japanese town of Faridabad.
Encephalitis (JE).
The cyclonic storm MORA is about to strike East- It will also contribute to the development of the region
Central Bay of Bengal, as predicted by India in which Chitradurga is located.
Meteorological Department (IMD) on 29 may 2017.
ATR is the first of its kind range in the country
MORA was observed moving Northward with a speed exclusively meant to conduct flight-tests of indigenous
of 11 kmph over East-Central Bay of Bengal near unmanned and manned aircrafts like Light Combat
Latitude 17.3N and Longitude 91.3E, which is about Aircraft, the unmanned air vehicles- Rustom-I and
660 km South-Southeast of Kolkata and 550 km South- Rustom-II (Tapas); parachutes and aerostats, etc.
Southwest of Chittagong.
31 | P a g e
The pilot project envisages a fleet of 200 electric- The mobile app will help students register complaints
powered public transport vehicles which will run on Ola against the menace of ragging in the country. Prior to
Cabs' app platform in Nagpur. this, students had to visit the website to register a
complaint against ragging.
Out of these 200 electric-powered vehicles, 100 e2o
Electric Taxis were manufactured by Mahindra & The new app will work only on Android system and will
Mahindra groups Mahindra Electric while Kinetic facilitate students to register a complaint against
Green Energy and Power Solutions has supplied 100 e- ragging immediately.
rickshaws, Kinetic Safar.
32 | P a g e
Maharashtra CM Devendra Fadnavis launches portal The scheme will be extended to other areas of Delhi as
'Mahaswayam' for job seekers, employers well.
Swachh Survekshan 2017: Indore is cleanest city Gujarat has the maximum of 12 cities among the top
50 clean cities, closely followed by Madhya Pradesh
Indore in Madhya Pradesh is Indias cleanest city while
with 11 and Andhra Pradesh with eight.
Gonda in Uttar Pradesh is the dirtiest, according to the
Swachh Survekshan-2017, announced by the Uttar Pradesh accounted for half of the bottom 50
government here today. cities in the cleanliness ranking.
33 | P a g e
The Hinduja brothers Srichand and Gopichand are with 837 flights a day or one flight in 65 seconds on an
placed on the first spot in the Sunday Times Rich List average in the 2016-17 fiscal year.
2017. The Hinduja Brothers have estimated assets
The airport has even overtaken London's Gatwick
worth 16.2 billion pounds.
airport that had 757 flights a day. The city also tops in
As per the list, the billionaires are richer than before, terms of the number of passengers with almost 45.2
so much so that the combined wealth of the top 500 million people flying in and out in fiscal 2017 as against
individuals and families is more than the total put up 44 million at Gatwick airport.
by the wealthiest 1000 in the year 2016.
No other large city in the world is served by one airport
Sunday Times Rich List 2017: Top 5 wealthiest that too with a single-runway.
Rank Name Net Worth Citizenship All the leading cities in the world including New York,
(in billion) London, Dubai, and Singapore have more than one
airport with multiple runways.
1 Sri and Gopi 16.20 India The New Delhi airport also has in use three parallel
Hinduja runways at any given time.
This was the third survey on cleanliness done by the Karnataka and Maharashtra stood at the fourth and
railways to keep a tab on rail premises as part of its fifth position respectively in governance indicators.
'Swachh Rail' campaign.
Flagging the demographic transition, the report said it The Tata group topped the list of Indias 100 most
is important that the development of the under- valuable brands once again even after its value
penetrated pension market in India be initiated now declined by 4 per cent to $ 13.1 billion in 2017 from $
when the situation is ripe. 13.7 billion in 2016. It says, the decline of the brand
value by 4 per cent is lesser than the decline of 11 per
Facts of the 'Financial security for India's elderly - The
cent which was seen between 2015 and 2016.
imperatives' report
Tata Group that was ranked at the top position in the
The PFRDA-CRISIL repost says that demographically,
list is followed by Telecom operator Airtel (2nd) with an
India will transition slowly from a young to a greying
estimated valuation of $7.7 billion, Life Insurance
country, where persons above the age of 60 would
Corporation of India (LIC) (3rd) with $6.8 billion, IT firm
increase from 8.9 per cent of the population now to
Infosys (4th) with value of $6.2 billion and State Bank
19.4 per cent by 2050.
of India (SBI) (5th) value of $5.5 billion respectively.
Indias Taj Mahal ranked 5th among top 10 global While both Kohli and Dhoni feature in the top 20 at the
landmarks 13th and 15th rank respectively, Yuvraj and Raina have
been ranked 90th and 95th respectively.
One of the most iconic wonders in the world, Taj Mahal
has become the only Indian monument to figure in the The list is ESPNs ranking of the 100 most famous active
world's top 10 Travellers' Choice awards for athletes in the world. The first such list was released in
Landmarks. 2016.
The historic monument was ranked at the fifth position Portuguese footballer Christiano Ronaldo with the top
in the list. The top spot was clinched by the worlds rank has been adjudged as the most famous athlete on
largest religious monument- Angkor Wat in Cambodia. the planet.
The other iconic landmarks to feature in the top ten The other players in the top 5 include NBA legend
included Sheikh Zayed Grand Mosque Center in Abu Lebron James at rank 2, soccer star Lionel Messi at the
Dhabi at 2nd rank, Spains Mezquita Cathedral de 3rd rank, tennis ace Roger Federer at the 4th rank and
Cordoba at the 3rd and St Peter's Basilica in Vatican American golfer Phil Mickelson at the 5th rank.
City at the 4th rank.
Brazilian footballer Neymar, Sprinter Usain Bolt, Kevin
While the Church of the Savior on Spilled Blood in St Durant, Rafael Nadal and Tiger Woods make up the top
Petersburg, Russia and the Great Wall of China were 10.
Appointments
Indian Appointments
36 | P a g e
Prabhat Kamal Bezbor Chairman Tea Board of India
Braj Bihari Kumar Chairman Indian Council of Social Science
Research
Usha Ananthasubramanian MD & CEO Allahabad Bank
Pratap Bhanu Mehta Vice Chancellor Ashoka University
Sanjay Mitra Defence Secretary Union Ministry of Home Affairs
Taranjeet Singh Country Director Twitter India
Aruna Sundararajan Secretary Department of Telecommunications
V K Saraswat Chancellor Jawaharlal Nehru University
Harsh Vardhan Minister(Additional Charge) Environment Ministry
Renu Satti CEO Paytm Payments Bank
Saurabh Agrawal Chief Financial Officer Tata Group
Rajan Anandan (Google India MD) Chairman Internet and Mobile Association of
India (IAMAI).
Anurag Tripathy Secretary Central Board of Secondary
Education (CBSE)
Najma Heptulla Chancellor Jamia Millia Islamia
Global Appointments
Andhra Pradesh CM Chandrababu Naidu selected for He was selected for his role in advancing the US-India
USIBC Award partnership at the state level. The award will be
presented to him on 8 May 2017 at the USIBC West
Andhra Pradesh Chief Minister (CM) Chandrababu
Coast Summit in the Silicon Valley.
Naidu was on 2 May 2017 selected for the
'Transformative Chief Minister Award' of the the US-
India Business Council (USIBC).
37 | P a g e
The summit will also honour Aruna Sundararajan with Shubhashish Bhutiani's "Mukti Bhawan" was declared
the Transformative Leadership Award for excellence the best film at the 17th annual film extravaganza.
in public service.
The Tamil Nadu government on 2 May 2017 conferred Harry Potter fame star, Emma Watson was conferred
the 2017 Avvaiyar Award to Padma Venkataraman, a the first ever Genderless Acting Award for Best Actor
social worker and daughter for former Indian category on 7 May 2017 at the annual MTV Movie and
President, the late R Venkataraman. TV Awards ceremony held at the Shrine Auditorium in
Los Angeles, California.
Padma was honoured with the award for her efforts in
the field of womens welfare and the rehabilitation of The actor in her acceptance speech praised MTV for
leprosy-affected people since the past 30 years by making their awards genderless. She further added
Tamil Nadu Chief Minister K Palaniswami. that for her acting is about the ability to put oneself
into someone elses shoes and that doesnt need to be
separated into two different categories.
Shabana Azmi starrer 'The Black Prince' awarded at
film fest in Houston
Indian Origin Scientists elected as Fellows of UK Royal
Hollywood film 'The Black Prince', starring Indian
Society
actress Shabana Azmi and singer-poet Satinder Sartaaj,
was on 3 May 2017 awarded the Special Jury Remi Three Indian Scientist Krishna Chatterjee, Subhash
Award at the 50th annual WorldFest - Houston Khot and Yadvinder Malhi were on 5 May 2017 elected
International Film Festival. as the Fellows of The Royal Society, a premier scientific
academy of the United Kingdom and the
'The Black Prince' is a historic biopic on the emotional
Commonwealth, for their outstanding contributions to
life story of the last king of Punjab - Maharajah Duleep
science.
Singh and his fragile relationship with Queen Victoria,
who was Godmother to his children. Maharajah Duleep Krishna Chatterjee from Cambridge University was
Singh was also named as the Black Prince of Perthshire. recognised for his discoveries of genetic disorders of
thyroid gland formation, regulation of hormone
synthesis and hormone action. He was responsible for
Konkona Sensharma wins top honours at New York the development of Clinical Research Facilities at the
Indian Film Festival University of Cambridge.
Konkona Sensharma has been named the best director Subhash Khot of New York University was credited for
for her directorial debut "A Death in the Gunj" and the throwing insight into unresolved problems in the field
best actress for "Lipstick Under My Burkha" at 2017's of computational complexity. He is a theoretical
New York Indian Film Festival (NYIFF). computer scientist who is known for his definition of
the Unique Games problem.
Konkona, 37, won the award for directing the drama
thriller which stars Kalki Koechlin, Vikrant Massey, Jim Yadvinder Malhi is an ecosystem ecologist from Oxford
Sarbh and Tanuja. The film also features one of the last University who is recognised for his works on
performances by veteran actor Om Puri, who passed understanding the functioning of terrestrial
away in January this year. ecosystems and its response to the pressures of global
change, including climate change, degradation and loss
She received the top honour for her performance in of large animals.
Alankrita Shrivastava's "Lipstick Under My Burkha", a
film which explores women's sexuality.
K Kaladharan won the best actor for Malayalam film David Letterman wins Mark Twain Prize 2017 for
"Ottayaal n Paatha" ("A Narrow Path") and American humour
38 | P a g e
David Letterman, who was the longest-running host of Britain's Indian-origin steel tycoon Sanjeev Gupta has
late-night TV shows in the United States, was on 17 bagged a top global award for his successful
May 2017 awarded with the Mark Twain Prize 2017 for acquisitions and his drive to transform the steel
American humour. industry in the UK, India and beyond.
With this, Letterman became the 20th humorist to Gupta, the executive chairman of the Liberty House
receive the prize. He is also a past recipient of Kennedy Group who has been behind a series of acquisitions in
Centre Honours for his influence on American culture. the British steel industry of former Tata Steel and
Caparo assets, received the title "CEO of the Year" at
the prestigious Platts Global Metals Awards in London
Renowned biologist Purnima Devi Barman nominated last night.
for Whitley Awards
Indian scientist Shrinivas Kulkarni wins Dan David He was declared the winner as he won the first tie
Prize 2017 breaker question when he correctly identified the
Kunlun Mountains as the 1200 mile range that
Indian scientist Shrinivas Kulkarni on 18 May 2017 won separates the Taklimakan Desert from the Tibetan
the prestigious Dan David prize 2017 for his Plateau.
contribution in the field of astronomy. He was awarded
in the 'Future' category which is dedicated to
astronomy this year.
Jacqueline Fernandez wins UK Humanitarian Award
He will share the award with Andrej Udalski of the
Bollywood actor Jacqueline Fernandez was on 19 May
University of Warsaw and Neil Gehrels of NASA for
2017 awarded with the International Humanitarian
their discoveries on time-domain astrophysics.
Award in Editor's Choice category of Asian Voice
Kulkarni is a professor of astrophysics and planetary Charity Awards. The award recognises the work of
science at California Institute of Technology in charity organisations in the United Kingdom (UK) and
Pasadena. abroad.
The star would be given the award under the newly Ganesh Shankar Vidyarthi Award: For work in the field
introduced category- 'Internationally Acclaimed of journalism and creative literature
Actress' for her great work on the International Baldev Bhai Sharma
platform. Rahul Dev
40 | P a g e
Atmaram Award: For work in the field of Science and Swami Vivekanand Award:
Technology literature and Machinery growth
Shridhar Paradkar
Girish Chandra Saxena Sriranjan Suridev
Phani Bhushan Das
Pandit Madan Mohan Malviya Award:
Sardar Vallabhbhai Patel Award:
Nityanand Pandey
B.R. Chhipa Jagdish Prasad Singhal
Daya Prakash Sinha
Dr. George Grierson Award: Awarded to people of
Deendayal Upadhyay Award foreign origin for promotion and training of Hindi
outside India
Mahesh Chandra Sharma
Rakesh Sinha Fujii Takeshi (Japan)
Gabriela Nik Ilieva (New York)
World News
THAAD missile defence system operational in South crop production for nutrition, air revitalisation, water
Korea recycling and waste recycling.
The United States (US) Military's missile defence The new approach uses plants to scrub carbon dioxide
system THAAD on 2 May 2017 became operational in while providing food and oxygen for those working in
South Korea. deep space.
NASA Scientists have designed an inflatable India elected as President of UN-Habitat, the United
greenhouse that could be used one day by astronauts Nations Human Settlements Programme
to grow fresh food and produce oxygen on Mars or
India on 8 May 2017 was unanimously elected as the
Moon.
President of the UN-Habitat, an organ of the United
The first-of-its-kind sample involves an inflatable, Nations Organisation (UNO).
deployable greenhouse that can support plant and
41 | P a g e
The country has been elected to head the body after 10 In November 2016, the World Health Organisation
years. Since the UN-Habitat came into being in 1978, it (WHO) lifted its own international health emergency
is only the third time that India has been elected to lead status for Zika.
this important organization after 2007 and 1988.
Australian Senator Larissa Waters, the deputy co- The Year of Polar Prediction (YOPP) is one of the key
leader of the Australian Greens party became the first elements of the Polar Prediction Project.
woman in the history of Australian Politics to
The YOPPs mission is to enable a significant
breastfeed her baby during a Parliamentary session on
improvement in environmental prediction capabilities
9 May 2017.
for the polar regions and beyond. It will be done by
The senator, who returned to Parliament after 10 coordinating a period of intensive observing,
weeks of maternity leave, breastfed her 2-month-old modelling, verification, user-engagement and
daughter, Alia Joy, during a vote for a Greens policy education activities.
motion on a federal budget.
42 | P a g e
UN releases the First draft of Nuclear Ban Treaty across the world including a team from Indias BITS
Pilani.
The United Nations on 22 May 2017 released the first
draft of the nuclear ban treaty that would legally BITS Pilanis team will be participating in the
prohibit the possession of nuclear weapons, in the face competition with name Hyperloop India.
of strong opposition from all the nuclear-armed states
Budget of the Indian Prototype, OrcaPod: Rs 75 lakhs
including the United States.
Hyperloop India to participate in SpaceXs Hyperloop The United States of America on 30 May 2017
Pod Competition II successfully conducted the first-ever test of its defence
system against an intercontinental ballistic missile
SpaceX, an American aerospace manufacturer and (ICBM). The test was long-planned.
space transport services company, will organise
Hyperloop Pod Competition II in August 2017 at its Speaking on the development, the US Missile Defence
headquarters in Hawthorne, California. The Agency (MDA) stated that a ground-based interceptor
competition will see the participation of 24 teams from
43 | P a g e
was launched at a California air base and it successfully It then fired a missile to intercept it from the
shot down a mock ballistic missile. Vandenberg Air Force Base in California.
Sports News
Aizawl FC becomes first north-eastern club to win I- League. The striker had scored seven goals for fourth-
League place finishers Bengaluru FC.
Hockey India recommends Sardar Singh for Rajiv India's rise in the rankings has been due to triumphs
Gandhi Khel Ratna over Cambodia and Myanmar.
44 | P a g e
were also felicitated during the programme. The Laxman is the fifth Indian to receive the honour, after
championship is scheduled to be held from 6 to 9 July Sachin Tendulkar, Rahul Dravid, Sourav Ganguly and
2017 at Kalinga Stadium in Bhubaneswar. Zaheer Khan.
The mascot is named as OLLY and represents the sea Marylebone Cricket Club is a cricket club in London.
turtles that annually migrate to coastal Odisha for mass
nesting. The nesting process starts between November
and December and continues until April and May. Rafael Nadal beats Dominic Thiem to win 5th Madrid
Open title
Former India batsman V V S Laxman on 11 May 2017 US-based Indian Ramit Tandon won his maiden PSA
was awarded an honorary life membership to the title
Marylebone Cricket Club (MCC).
45 | P a g e
Indian squash player Ramit Tandon won his first After both sides played out a 0-0 draw in regulation
professional title on 14 May 2017 after beating his time, it took two strikes from Bengaluru FCs Vineeth
Indian counterpart, Kush Kumar in the Sys Open 2017. to settle the tie.
Important Days
Days Celebrated on Theme/Info
International Labour Day / May Day 1 May
Ganga Swachhta Sankalp Divas 2 May Observed across the Ganga Basin States.
World Press Freedom Day 3 May Critical Minds for Critical Times: Medias role in
advancing peaceful, just and inclusive societies
World Asthma Day 2 May 'Asthma: Better Air, Better Breathing'.
National Technology Day 11 May Technology for inclusive and sustainable growth
(Celebrated to commemorated to mark the
anniversary of Pokhran nuclear tests of 1998)
World Migratory Bird Day 10 May "Their Future is our Future A Healthy Planet for
Migratory Birds and People."
International Firefighters' Day 4 May
World Red Cross and Red Crescent 8 May Everywhere for everyone
Day
International Nurses Day 12 May Nurses: A voice to lead - Achieving the Sustainable
Development Goals
International Day of Families 15 May Families, education and well-being
World Telecommunication and 17 May Big Data for Big Impact
Information Society Day
The International Day for Biological 22 May Biodiversity and Sustainable Tourism
Diversity
World Day for Cultural Diversity for 21 May
Dialogue and Development
HIV Vaccine Awareness Day 18 May
World Metrology Day 20 May Measurements for transport
World Turtle Day 23 May
International Day of United Nations 29 May Investing in Peace around the world
Peacekeepers
World No Tobacco Day 31 May Tobacco a threat to development
47 | P a g e
Obituaries
Famous climber Ueli Steck dies in a tragic accident Singh was suffering from cancer since some time and
near Mount Everest took his last breath around 1.45 am. He is survived by
his wife and a son. His elder son had passed away in an
One of the worlds most renowned climbers, Ueli Steck,
accident in 2012.
died in an accident in Nepal near Mount Everest on 30
April 2017. He was 40. The state government is arranging for his funeral at
Kullu with full state honours. His body would be flown
Steck died after falling to the foot of Mount Nuptse, a
there from Delhi on 12th itself.
smaller peak in the area. The accident happened when
he was doing an acclimatizing climb for an attempt of
the never-repeated Hornbein route on the West Ridge
Veteran actress Reema Lagoo passes away
of Everest without supplemental oxygen.
Veteran actress Reema Lagoo died on 18 May 2017 at
Kokilaben Hospital in Mumbai. She reportedly suffered
First Woman Chief Judge of State High Court Justice a massive cardiac arrest. She was 59.
Leila Seth passes away
Lagoo who appeared in several Hindi and Marathi films
Justice Leila Seth, the first woman judge of Delhi High also acted in numerous television shows like Tu Tu
Court, passed away on 6 May 2017 after a brief illness Main Main and Shrimaan Shrimati.
in Uttar Pradesh. She was 86.
48 | P a g e
eventually had to adopt during the economic crisis of Parvathamma Rajkumar, Kannada film producer and
2010. wife of the late Kannada superstar Rajkumar, passed
away on 31 May 2017 due to prolonged illness. She was
Mitsotakis had quit politics in 2004 after serving as the
78.
country's longest-serving parliamentarian.
She had been hospitalised since 14 May. After a major
drop in blood pressure, the producer suffered a
Former Punjab DGP Kanwar Pal Singh Gill passes away massive cardiac arrest on 31st morning.
Taxing agriculture
The NITI Aayog proposal to tax agriculture, despite Union Finance Ministers clarification that the government has no
such intention, has triggered a policy debate that refuses to recede.
Arun Jaitley cited constitutional limitation for the Centre to do so as agriculture is in the state list. Its true that under
the present Constitutional assignment of tax powers in India, taxation of agricultural income is placed within the state
list. But, no state has ever tried to levy a comprehensive tax on agricultural income given the influence of agricultural
lobby.
Should there be a tax on agricultural income? The recent changes in agrarian economy gave further credence to the
proposal to tax this sector. The shift towards commercial crops and, especially, plantations, farm houses etc., has been
cited to justify taxation on agricultural income.
Its also a fact that agriculture has been a source of parking black income as it does not attract any income tax. Besides
evading tax, unaccounted income from other sources is shown under agricultural income to avoid paying taxes. Thus,
agriculture has been used as a channel to legitimise and perpetuate unaccounted income.
D P Sengupta and R Kavita Rao of National Institute of Public Finance and Policy in an article in Economic and Political
Weekly estimated that if agricultural incomes too were treated on par with other incomes and were made subject to
income tax, it would yield potential revenue of about Rs 50,000 crore for 2007-08. It would be much higher now a
decade later. Hence, the clamour for bringing agriculture into tax net. There will be substantial revenue for the states
as agriculture is in the state list.
There is a growing presence of corporate sector in various activities associated with this sector. There are corporate
companies reporting agricultural incomes and income from the sale of various agricultural
products. The propagation of contract farming is also changing the character of agricultural operations and income
from them.
49 | P a g e
Income from allied sectors like dairy, live stock, poultry etc., is also often shown as agricultural income to evade taxes.
The share of allied sectors and other value-added activities in the overall agricultural income is increasing.
But, this is only a part of the story. The income from agriculture is highly inconsistent. The amplitude of fluctuation in
agrarian incomes has been accentuated by the integration into global market place. The shift towards cash crops has
further intensified the trend.
Computing agricultural income is fraught with many challenges. The fragmentation of agricultural land holdings has
led to a situation where small and marginal farmers account for a large chunk of agrarian community.
Any income on agricultural operations that are informal in character is prone to large-scale evasion. It requires a
massive machinery to collect and verify taxes on agricultural incomes.
The growing trend of tenancy farming coupled with no record of rights further complicates the process of computing
agricultural incomes to arrive at taxable income.
Given the merits and demerits of agricultural income tax, at least taxing some crops or processes can be
explored. Higher levels of income from cash crops can also be brought under the ambit of taxation. Income from
farm houses near urban areas should be taxed.
Word Meaning
propagation the action of widely spreading and promoting an idea, theory, etc.
To cauterise this market though, he must start by pruning promoter holdings to 50% and searing shell companies that
are used for manipulating stock prices. It will be a bloody clean-up, but a necessary one to boost investor confidence
and limit market rigging in a highly manipulated market.
Indias publicly listed companies are seeped in a promoter culture that overshadows their public obligations. This
means two things. If the promoters are ethical, transparent and take their responsibilities seriously, the company
behaviour reflects that.
50 | P a g e
On the other hand, when promoters see a stock market listing as cheap big bucks, the dirty games begin. It makes
their firms schizophrenic, a twin personality, if you like public for tapping money, but less transparent on just about
all else from governance to accounting.
In this highly muddled environment, chicanery rules. So-called independent directors are typically friends or retired
bureaucrats with experience of navigating complex government red tape. In public sector firms, gatekeepers are often
picked from a cabal of known associates folks who can hardly be expected to raise a red flag. Team this with a
mandated free float of just 25% and its easy to see how the market lends itself to malfeasance. This is true especially
for small to mid-sized companies.
Often, the public shareholding is held by institutional investors or big traders with an arrangement with promoters,
and get early tip-offs for their cooperation. Much worse, the free float itself is cornered by promoters through
an excruciating web of shell companies. Recently, the ministry of corporate affairs stated that 9,00,000 registered
companies in India dont file tax returns and are possibly used for illegal activity.
The market is further distorted by traders and corrupt business journalists who collude with promoters to spread
misleading stories to push prices up, or sometimes even short stock.
For all this to fade, the free float has to be large enough to make it hard to corner, and attractive enough for activist
hedge funds, to play.
Everywhere in developed markets, activist investors have held companies accountable for their actions, especially to
shareholders. In many cases, their activism has dethroned errant executives found guilty of wrongdoing or careless in
managing company funds.
Several investors, even conservative Blackrock, are increasingly questioning ineffective value creation for
shareholders, something regulators often fail to do.
By insisting that companies free up 50% of their stock for investors, Sebi will open up the market to large institutional
investors who can hold promoters accountable. A higher free float will also automatically curb promoter ability to put
vast sums of money into the market to manipulate stock price.
Sebis other challenge will come in clamping down on trading using shell companies. The government plan to digitise
databases should help the regulator keep better track. It shouldnt stop there though. Sebi will need to invest in
automated surveillance that some in Silicon Valley are already developing. Using automation to weed through and
marry big data from banks, Aadhaar, tax offices and the MCA can reveal manipulative trading and promoter linkages.
Traders are already ahead of the game by using algorithms for high frequency trading (HFT), often also used to spoof
the market and distort trade. And the only way to sift through legitimate trading from spoofing is through the use of
artificial intelligence and machine learning that mimics trader behaviour to spot lawless trades.
This is not to say it will end manipulation overnight. But at least the chance of getting caught will act as a deterrent to
many.
The regulators real grit, however, will come from heavy punitive action against errant traders and promoters. For too
long, India has tolerated a culture where traders and promoters caught red-handed get away with limp fines and
continue to be active in the market even when they are barred from it. Its a VIP culture that money and connections
buy, and only one that the regulator can end. Tyagi must chart a plan to level the playing field and bring relief to small
retail investors. Its the only way to embark on Narendra Modis idea of ending the VIP culture and replacing it with an
EPI Every Person is Important one.
Important Vocabulary
51 | P a g e
Word Meaning
decried publicly denounce.
crony A Close friend. Here it is: close relationships between business people and
government officials.
Quizzes
Puzzles
c) R e) none.
a) U
b) R
c) V
d) P
e) none of these.
a) VPU
b) SWT
Answers: 1. D, 2. C, 3. C, 4. B, 5. A
c) UPW
d) WRP
Set 2
e) none of these.
53 | P a g e
Q.6 Who among the following contribute the third b) 20
maximum amount ?
c) 30
a) M
d) 40
b) The one who likes Yellow
e) 50
c) The one who likes Black
d) L Solutions:
e) none of these.
a) 420
b) 600
Answers: 6. C; 7. D; 8. D; 9. B; 10. A.
c) 480
d) 540
New Pattern Coding-Decoding
e) none of these.
HAVE FUN LIKE MAN is written as 4#2, 4#7, 6@7,
6@5"
Q.8 Who among the following likes Green ? COOL MAN ENJOYING PARK is written as 6!4, 2#2,
a) P 6@5, 1@6"
b) The one who contribute 50 RAM IS TAKING REST is written as 9@8, 5@1, 1@8,
6#1
c) The one who contribute 60
d) both a & b
Q.1 what is the code for IS?
e) none of these.
a) 5@1
b) 9@8
Q.9 Who sits second to the right of 2nd least
contributor ? c) 1@8
a) O d) 6#1
c) The one who likes contribute maximum Q.2 What could be the code for SHIVA?
d) P a) 3#7
c) 2@3
54 | P a g e
Q.3 What could be the code 6#9 represent ? d) 6#1
b) LION
c) KRISH Answers
d) HUMAN 1. B
2. B
e) none of these.
3. D
4. C
5. C
Q.4 Which word represented by code 1@6?
a) COOL
Explanation
b) ENJOYING
1) Symbol represents the no. of vowel within the
c) PARK word.
d) MAN 2) If the word contains even no. of alphabets, then
subtracts 1 from the 1st and last alphabets place
value and then exchange their position. If the word
Q.5 What could be the code for IRONMAN ? contains odd no. of alphabets, then add 1 in 1st and
last alphabets place value and then exchange their
a) 6#9 position.
3) If the place value of any alphabet exceeds 9, then
b) 6!9
add them to make a single digit number.
c) 6!1
4. D
1. Incoherent Passage Question 5. None of these all statements are coherent.
A. During September of 1781, the combined land forces
of Rochambeau and Washington marched south.
2. Incoherent Passage Question
B. American forces marched over 200 miles in a period
of about two weeks. The plan worked perfectly. A. Reliance Industries (RIL), Indias largest company,
saw its earnings before interest and taxes jump 15 per
C. Rochambeau forces were always considered to be cent from the first quarter to the second, though net
most powerful forces in America. profits grew at a far more modest 2.6 per cent.
D. The plan was strictly confidential, and the generals B. Part of the reason for this was a sharp, 8 per cent-
kept their final destination secret from even the plus fall in its refining margins, down from $8.40 per
soldiers. barrel in Q1 to $7.70 per barrel in Q2.
Incoherent statement is:
55 | P a g e
C. For RIL, refining and selling oil and making B. Parts of the United States touch three different
petrochemicals are not new. Investors understand oceans.
these businesses and value them realistically.
C. United States is largest economy in the whole world!
D. This fall happened because the Asian demand
D. It is located in a continent called North America.
and, therefore, pricing of lighter fuels like diesel and
petrol was under pressure, possibly because most Incoherent statement is:
major emerging economies are growing slower than
they were before. 1. A
1. A 3. C
2. B 4. D
4. D
3. Incoherent Passage Question A. There are consolation prizes which console, and
some which char the soul.
A. Banks are places where people can keep their
money. B. I am not suggesting we write a condolence letter, but
sympathy is certainly due to Sachin.
B. Today, when a person earns money from their job,
their paycheck is deposited (put) into their account. C. Membership of Parliament is a handsome freebie for
Sachin Tendulkar
C. Bank account are used to earn money by making
fixed deposits. D. Nomination to the Rajya Sabha is a pretty desultory
substitute for someone who has been promised the
D. Most people use banks to save money in their Bharat Ratna.
savings accounts and to pay money from their checking
accounts. Sachin did not ask for this honour. Delhis politicians,
ever eager to climb a bandwagon, led the clamour for
Incoherent statement is: Sachins elevation to jewel of India after he got his 99th
international hundred.
1. A
Incoherent statement is:
2. B
1. A
3. C
2. B
4. D
3. C
5. None of these all statements are coherent.
4. D
56 | P a g e
1. C 4. C
2. C 5. C
3. C
Quantitative Aptitude
6
1. 20 college students are waiting in a queue for C2 ways
discount coupons of KFC. Each coupon costs Rs.5. Ten 5 10 5 10 5 _ _ _ _ _ ; ........ 10 ------
5
of the students have the Rs..5 coin and others have - C1 ways
currency notes of Rs.. 10. Determine in how many three 10's are replaced, no of cases - (7C3 + 6C2 +
5
ways can all the 20 students stand in the queue such C1)x(7C3 + 6C2 + 5C1) = 3025
that the person at the coupon counter will not face four 10's replaced , no of cases : (6C4 + 5C3 + 4C2 + 3C1)
2
any issue in paying back changes provided that the = 1156
person at the counter does not have any changes.
five 10's replaced , no of cases : (5C5 + 4C4 + 3C3 + 2C2 +
1
a) 5513 C1) 2 = 25
b) 3434 max only five 10's can come into first part
c) 1200 so total number of cases =
d) 5678 1+81+1225+3025+1156+25= 5513
e) Cannot be determined
Take the first 10 numbers as one part and next 10 as a) Rs. 9.60
second part b) Rs.11.50
now take one 10 into the first part, this can be done in c) Rs.7
9
C1 ways because 1st number should be 5 always d) Rs.5.75
and the 5 which is replaced by 10 can be arranged in e) None of the above
9
C1 ways in 2nd part
Ans-a
one 10 is replaced, no of cases: 9C1x9C1 = 81
now replace two 10's , 5 5 _ _ _ _ _ _ _ _ ; ........10 -- Let number of one rupee notes=X
--- 8C2 ways Number of 20 paise coins=Y
5 10 5 _ _ _ _ _ _ _ ; ...... 10 ---- Mousumi started with (100X+20Y) and came back
7
- C1 ways with (100Y and 20A) paise
same will be the cases for two 5's to be arranged in Also, 100Y+20X=(1/3) (100X+20Y)
the second part =>X=7Y
two 10's are replaced, no of cases - (8C2 + 7C1)x(8C2 + By hit and trial method,
7
C1) = 1225 Put Y=1=>X=7=>total Rs. 7.2 is less
replace three 10's, 5 5 5 _ _ _ _ _ _ _; ......... 10 ----- Put Y=2=>X=14=>Total=Rs. 14.4
-- 7C3 ways This is correct.
5 10 5 5 _ _ _ _ _ _ ; ......... 10 -------- Hence she spent=(2/3)x14.4=Rs. 9.60=cost of wallet
57 | P a g e
c) 32.3% increase
3-4 d) No changes
In an island of the Maldives, the natives have a e) Cannot be determined
peculiar process of determining their average earnings
and expenditures. According to an old tradition, the Ans-c
average monthly earnings had to be calculated on the
Average Monthly Income (old system) = 77
basis of 14 months in the calendar year, while the
So, Total Income of 173 families/14 = 77
average monthly expenditure was to be calculated on
So, Total Income of 173 families = 77x14
the basis of 9 months in the year. This weird system of
Now, Average Monthly Income of 173 families (new
calculation always resulted in the natives
system) =
underestimating their savings because there occurs an
underestimation of their earning. The expenditure per Total Income/12 = 77x14/12 = 89.83 fasios
month gets overestimated. Now keeping the above Now, Average Monthly expenditure (old system) = 21
points in view try to answer the below questions: So Average Monthly Expenditure (new system) =
21x9/12 = 15.75
3. Mr. Ghosh comes to his native island from Africa
and makes his native community comprising of 173
Total Savings (old system) = 77-21=56
families to calculate their average earning and the
Total Savings (new system) = 89.83-15.75 = 74.08
average expenditure on the basis of 12 months per
%change = (74.08-56)/56 x100 = 32.3%
the calendar year. The average estimated earning in
his community according to the old system is 77 fasios 5. Siddharth spends 30% of his income on his fathers
per month. Assuming there are no other changes, medication, 20% on agricultural property and 10% on
what will be the percentage change in savings of the daughters education. The corresponding percentages
173 families? for Akarsh are 40%. 25% and 13%. Given below are
two conditions in 2 statements.
a) 34% increase
A.Siddharth spends more on agriculture than Akarsh.
b) 34 % decrease B. Akarsh spends more on daughters education than
c) No changes Siddharth.
d) 56 % increase
e) Cannot be determined We can determine who spends more on Fathers
medication with the help of which of the above
Answer-e statements?
Average Monthly earning (old system) = 77 a) Statement A alone but not by using statement
So, Total Income of 173 families/14 = 77 B alone.
So, Total Income of 173 families = 77x14 b) Statement B alone but not by using statement
Now, A alone.
Average Monthly earning of 173 families (new system) c) Either of the statements alone.
= d) both the statements together but not by
either of the statements alone
Total Income/12 = 77x14/12 = 89.83 fasios e) cannot be answered on the basis of the two
But, we do not know the average monthly
statements
expenditure in either system.
Nor do we know the savings. Answer-b
So, the required answer cannot be determined.
Let Siddharth's and Akarsh's total income be 100x and
4. In the previous question, the average estimated 100y respectively.
monthly expenditure is 21 fasios per month for the So the amount spent by Siddharth on father,
island. Determine the percentage change in the agriculture and daughter will be 30x, 20x and 10x
estimated savings of the 173 families. respectively.
The corresponding amounts spent by Akarsh will be
a) 35 % decrease
40y, 25y and 13y.
b) 38 % increase
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We need to find relation between 30x and 40y i.e. we
need the ratio 3x/4y
7. Ronnie starts driving from the market to the Stars
Now let us consider statement A alone:
lab in his car. Meanwhile, Dr. Stein also drives from
We get 20x>25y
the market one hour after Ronnie and overtakes
So 4x>5y i.e. x>1.25y
Ronnie after covering 30% of the distance from
If we take x=1.3y, then 3x/4y=3.9x/4y<1
market to the lab. Both of them continue the drive
But if x=2y, then 3x/4y=6y/4y>1
even after the overtaking. On reaching Stars lab, Dr.
So statement A alone is not sufficient.
Stein reverses his car and meets Ronnies car, after
covering 23 1/3 of the distance between Stars lab and
Consider statement B alone.
the market. In how much time did Dr. Stein cover the
It says 13y>10x
distance between market to the lab? ( in hours)
So x<1.3y
For x=1.29y, 3x/4y = 3x1.29y/4y<1 a) 3
Thus even for the highest value of x, we get 3x<4y. b) 5
For any value of x lesser than 1.29, 3x is surely going c) 4
to be less than 4y. d) 3 1/3
So statement B is sufficient. e) 2 7/3
Answer-d
6. A pump can fill or empty an oil reservoir. The
capacity of the oil reservoir is 3600m3. The filling Let the distance from market to Stars lab be x
capacity of the pump connected to the reservoir is When Dr. Stein overtakes Ronnie for the first time,
10m3/min less than its emptying capacity.If the pump both of them cover= 3x/10
takes 12 minutes extra to fill the reservoir than to
empty it, determine the emptying capacity of the When Dr. Stein meets Ronnie after that, Dr. Stein
pump? covers (7x/10)+(7x/30) =28x/30
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c) Both statements together but not by using 8 spinners made=8x72 >480 hence the option does
either statement alone not hold true.
d) None of the above statements
e) Cannot be judged. Option c->
10 spinners did 480
Ans-c One spinner did 48.
Remaining 6 spinners need to spin 48+32=130 blouse
From A alone, 2P+G<1+2G=>P<G
each
We got no idea about olive, so it is not sufficient. Tota 6 spinners will spin= 130x 6= 480 which satisfies
the question
From B alone, P+2P=O+2G => P+N=2G
Hence answer is option C
This also is not alone.
Banking Awareness
1. NEFT and RTGS in banking terminology speaks of c) electronic payment products within a bank
e) Ineligible to get cash across the bank counter e) None of the above
a) it is called settlement of the cheque a) movable property for a loan given by a bank
b) it is called withdrawing of the cheque b) immovable property for a deposit received by a bank
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10. A savings Bank Account opened with a commercial 2. In which year did the Insurance Regulatory and
bank with zero balance or very minimal balance is Development Authority of India came into force?
known as
a) 1999
a) Savings bank ordinary account
b) 2000
b) Student savings bank account
c) 2001
c) No-Frill Account
d) 1991
d) Current Account
e) 1993
e) Call Deposit
e) Standard
Set 2
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a) Reserve Bank of India b) shall be liable if the loan is taken with his consent or
authority
b) Stock Exchange
c) shall never be liable in any conditions
c) NITI Aayog
d) Both 1 and 2
d) Finance Ministry
e) None
e) Union Government
Tutorial: How to Solve New Coding-Decoding Problems in Bank PO Exams 2017 - A Step by Step Guide
Reasoning is a very important section in the banking examinations. And you are all well aware that the pattern of
questions asked in the reasoning section has changed a lot. So today, we are sharing an article on how to solve the
new pattern coding decoding.
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Now after reading these 3 steps you might be thinking if its so easy to decode the codes then why
you have been finding it difficult to do so in the examination hall. Yes, it is easy but when paid attention.
The reason why you found it a little difficult in the examination hall was you were not well acquainted with the new
pattern. The previous pattern coding-decoding asked in the exams was based on the method of elimination but the
new pattern is based on translating codes. So lets take an example to learn the new pattern with the above 3 step
approach.
Example-
Inventions the college world needs 3#7 10@8 5@3 7#8 5%4
Study this from Manorama Yearbook 8^4 5?8 8&2 4@7 4!2
Step 1- A general look clearly shows that each code has a number both in the beginning and in the end and in between
there is a symbol.
Inventions the college world needs 3#7 10@8 5@3 7#8 5%4
We clearly observe that the number 5 in the beginning of a code is written twice which means that any two words
have relation with number 5. Here in this, the number 5 represents the total number of alphabets in a word (world
and needs both the words have 5 alphabets).
Inventions- 10@8
The- 3#7
College- 7#8
Also, number 8 is written twice in the end of a code. So weve to deduce some relation. But taking only a single line in
consideration we are not able to derive any relation. So proceed further.
Favourite-9#2
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Taking last line in consideration
Study this from Manorama Yearbook 8^4 5?8 8&2 4@7 4!2
Study- 5?8
It must be noted that in Inventions the symbol in the code is '@' which is also a symbol either in the code for world
or for needs. If we look carefully, then Inventions and Needs both have alphabet s at the end which hence means
that the symbol in the codes is for the last alphabet in the word. And hence more codes can be deduced.
Now the codes for Manorama, Yearbook, Yuvraj and Player are still unclear. Since the total number of alphabets,
last alphabet has already been considered in codes as the initial number and the symbol respectively. So we may
consider either the first alphabet or the middle alphabet etc which can form some sort of relation with the last number
in the code to decode the remaining codes.
When we consider Manorama which can be coded as either 8^4 or 8&2. If we consider the first alphabet M the
numeric value of which is 13. So it is a possible that 1+3 has been summed up and hence 4 in the end of the code. But
then as per this possible deduction the numeric value in the end in the code for Yearbook will be 7 which isnt there.
So, we have to look for some other possible deduction.
The reversal for M is N. If we consider the numeric value of N, it is 14. The value 4 may come when we multiply 1
and 4. When we consider Y in Yearbook, the reversal for which is B. The numeric value of the same is 2. So, the
codes for Manorama and Yearbook are 8^4 and 8&2 respectively. Similarly the codes for Yuvraj and Player are
6*2 and 6$1 respectively.
Step 3- Hence all the codes have been decoded. The first numeric value represents the number of the alphabets in the
word, symbol in place of the last alphabet of the word and the last numeric value represents the value of reversal. If
the numeric value of reversal is a two-digit number then the digits are multiplied and if a single-digit number then it is
written as it is.
The overall process takes a minute or two depending on the practice. This has been elaborated just for making things
clear to you.
Thank you
Ruchi (Sabhiya)
Exampundit Mentor
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