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Current Affairs 2017

Delhi Police chief Alok Verma appointed new CBI Director

The Appointments Committee of the Cabinet has approved the appointment of Shri Alok Kumar Verma as the new CBI Director. His appointment will be for a period of two years from the date of assumption of charge of his office. Shri Alok Kumar Verma, currently Delhi Police commissioner, is a 1979 batch Indian Police Service officer of the Arunachal Pradesh-Goa-Mizoram and Union Territory (AGMUT) cadre.

Employment News

181 Pet PI ASC, C/o 56 APO, www.persmin.nic/dopt.asp invites applications for Tradesman Mate 02 psots (UR-01 post, SC/ST-01) Fireman 06 posts (UR-04, SC/ST-01post, OBC-01) Refer website or Employment News dated 7-13 Jan 2017...

Benefits of Goods and Services Tax (GST)

The benefits of GST can be summarized as under:

  • For Business and Industry
    • Easy compliance: A robust and comprehensive IT system would be the foundation of the GST regime in India. Therefore, all tax payer services such as registrations, returns, payments, etc. would be available to the taxpayers online, which would make compliance easy and transparent.
    • Uniformity of tax rates and structures: GST will ensure that indirect tax rates and structures are common across the country, thereby increasing certainty and ease of doing business. In other words, GST would make doing business in the country tax neutral, irrespective of the choice of place of doing business.
    • Removal of cascading: A system of seamless tax-credits throughout the value-chain, and across boundaries of States, would ensure that there is minimal cascading of taxes. This would reduce hidden costs of doing business.
    • Improved competitiveness: Reduction in transaction costs of doing business would eventually lead to an improved competitiveness for the trade and industry.
    • Gain to manufacturers and exporters: The subsuming of major Central and State taxes in GST, complete and comprehensive set-off of input goods and services and phasing out of Central Sales Tax (CST) would reduce the cost of locally manufactured goods and services. This will increase the competitiveness of Indian goods and services in the international market and give boost to Indian exports. The uniformity in tax rates and procedures across the country will also go a long way in reducing the compliance cost.
  • For Central and State Governments
    • Simple and easy to administer: Multiple indirect taxes at the Central and State levels are being replaced by GST. Backed with a robust end-to-end IT system, GST would be simpler and easier to administer than all other indirect taxes of the Centre and State levied so far.
    • Better controls on leakage: GST will result in better tax compliance due to a robust IT infrastructure. Due to the seamless transfer of input tax credit from one stage to another in the chain of value addition, there is an in-built mechanism in the design of GST that would incentivize tax compliance by traders.
    • Higher revenue efficiency: GST is expected to decrease the cost of collection of tax revenues of the Government, and will therefore, lead to higher revenue efficiency.
  • For the consumer
    • Single and transparent tax proportionate to the value of goods and services: Due to multiple indirect taxes being levied by the Centre and State, with incomplete or no input tax credits available at progressive stages of value addition, the cost of most goods and services in the country today are laden with many hidden taxes. Under GST, there would be only one tax from the manufacturer to the consumer, leading to transparency of taxes paid to the final consumer.
    • Relief in overall tax burden: Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers.

Rajiv Gandhi Khel Ratna Dronacharya and other National Sports Awards 2016

National Sports Awards are given every year to recognize and reward excellence in sports. Rajiv Gandhi Khel Ratna Award is given for the spectacular and most outstanding performance in the field of sports by a sportsperson over a period of four years; Arjuna Award is given for consistently outstanding performance for four years; Dronacharya Award for coaches for producing medal winners at prestigious international sports events, Dhyan Chand Award for life time contribution to sports development and Rashtriya Khel Protsahan Puruskar is given to the corporate entities (both in private and public sector) and individuals who have played a visible role in the area of sports promotion and development. Rajiv Gandhi Khel Ratna Award 2016 Name of awardee Discipline P.V. Sindhu Badminton Sakshi Malik Wrestling Dipa Karmakar Gymnastics Jitu Rai Shooting Dronacharya Award 2016 Name of awardee Discipline Nagapuri Ramesh Athletics Sagar Mal Dhayal Boxing ...

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What is Kyoto Protocol?

The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change. The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012. The major distinction between the Protocol and the Convention is that while the Convention encouraged industrialized countries to stabilize GHG emissions, the Protocol commits them to do so. Recognizing that developed countries are principally responsible for the current high levels of GHG emissions in the atmosphere as a result of more than 150 years of industrial activity, the Protocol places a heavier burden on developed nations under the principle of "common but differentiated responsibilities." The Kyoto Protocol was adopted in Kyoto, Japan, on 11 December 1997 and entered into force on 16 ...

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Genetically Modified Food or Crops

Genetic Modification Genetic modification refers to techniques used to manipulate the genetic composition of an organism by adding specific useful genes. A gene is a sequence of DNA that contains information that determines a particular characteristic/trait. All organisms have DNA (genes). Genes are located in chromosomes. Genes are units of inheritance that are passed from one generation to the next and provide instructions for development and function of the organism. Crops that are developed through genetic modification are referred to as genetically modified (GM) crops, transgenic crops or genetically engineered (GE) crops. Over the last 30 years, the field of genetic engineering has developed rapidly due to the greater understanding of deoxyribonucleic acid (DNA) as the chemical double helix code from which genes are made. The term genetic engineering is used to describe the process by which the genetic makeup of an organism can be altered using “recombinant DNA technology.” This ...

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Career Scope in Advertising Industry

Advertising world has led to the emergence of many new roles within the advertising profession. In the new edge of ad world, advertising goes beyond its conventional approach. For the non-conventional and conventional advertising approach, Industry requires well groomed people who can develop innovative and creative new idea. Flexibility and competence is must for the industry as the Ad World is highly creative as well as dynamic. Advertising careers are diverse and can run across a variety of departments, offering positions in the fields of creative departments, production, media, and research. The ultimate goal is to meet the client’s goals of increasing sales as much as possible. Public relations services are often involved with businesses, governments, and institutions and can help them make effective decisions. Students of an advertising school may choose to pursue a career as a: Advertising Media PlannerMedia ResearcherCreative DepartmentCopywriter/IllustratorAccount PlanningPr ...

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