Www.newstechcafe.com SBI PO Mains 2015 GK Capsule

Visit http://newstechcafe.com Page 1

SBI PO Mains Online Exam 2015 GK Power Capsule

for Newstechcafe.com Readers

Exam Date:- 01-08-2015 Visit :- http://newstechcafe.com Visit:- http://newstechcafe.net Like Us :- http://facebook.com/technologytok http://twitter.com/pvrkmr31 GK Power Contains :-

Basic About SBI PO 2015 Selection Procedure

About State Bank of India

Current affairs from March 2015 to June 2015

Union Budget,Awards,Honours

Rail Budget

Important Dates

Currency and Capitals


About SBI PO 2015 Exam/Post

Main Examination: Main Examination will consist of Objective Tests for 200 marks and

Descriptive Test for 50 marks. Both the Objective and Descriptive Tests will be online. Candidates

will have to answer Descriptive test by typing on the computer. Immediately after completion of

Objective Test, Descriptive Test will be administered.

(i) Objective Test: The Objective Test of 2 hour duration consists of 4 Sections with 50 marks each

(Total 200 marks) as follows:

a) Test of English Language (Grammar, Vocabulary, Comprehension etc.)

b) Test of General Awareness, Marketing &Computers

c) Test of Data Analysis & Interpretation

d) Test of Reasoning (High Level)

The detailed SBI PO syllabus of each section can be checked from below.

The candidates are required to qualify in each of the Tests by securing passing marks, to be decided

by the Bank.

(ii) Descriptive Test: The Descriptive Test of 1 hour duration with 50 marks will be a Test of

English Language (Letter Writing & Essay).The candidates are required to qualify in the

Descriptive Test by securing passing marks, to be decided by the Bank.Descriptive Test paper of

only those candidates will be evaluated who have scored qualifying marksin the Objective Tests

and are placed adequately high as per total marks in objective test.

(iii) Group Discussion (20 marks) & Interview (30 marks)

The aggregate marks of candidates qualifying in both the Objective Tests and Descriptive Test will

be arranged in descending order in each category. Adequate number of candidates in each category,

as decided by the Bank will be called for Group Discussion and Interview. The qualifying marks in

Group Discussion &Interview will be as decided by the Bank.

Final Selection:

The marks obtained in the Preliminary Examination (Phase-I) will not be added for the selection

and only the marks obtained in Main Examination (Phase-II) will be added to the marks obtained in

GD & Interview (Phase-III) for preparation of the final merit list.

The candidates will have to qualify both in Phase-II and Phase-III separately. Marks secured by the

candidates in the Written Test (out of 250 marks) are converted to out of 75 and marks secured in

Group Discussion & Interview (out of 50 marks) are converted to out of 25. The final merit list is

arrived at after aggregating converted marks of Written Test and Group Discussion &Interview out


of 100 for each category. The selection will be made from the top merit ranked candidates in each

category

No. Name of Tests (Objective) Questions Marks Total

Time

1 Test of Reasoning 50 50

2 Hours 2 Test of English Language 50 50

3 Test of Numerical Ability 50 50

4 Test of General Awareness 50 50

Total 200 200

Note:- i) The above tests except the Test of English Language will be available bilingually, i.e. English and Hindi.

ii) A candidate has to qualify in each part of the Objective test separately. There will be negative marks for wrong

answers in the Objective tests. 1/4th marks will be deducted for each wrong answer. Candidates will have to pass in

each of the objective tests.

About Reserve Bank Of India State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. As of December 2013, it had assets of US$388 billion and 17,000 branches, including 190 foreign offices, making it the largest banking and financial services company in India by assets. State Bank of India is one of the Big Four banks of India, along with Bank of Baroda, Punjab National Bank and ICICI Bank. SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout India. As of 28 June 2013, the bank had 190 overseas offices spread over 36 countries. SBI now has five associate banks, down from the eight that it originally acquired in 1959. All use the State Bank of India logo, which is a blue circle, and all use the "State Bank of" name, followed by the regional headquarters' name:

1. State Bank of Bikaner & Jaipur 2. State Bank of Hyderabad 3. State Bank of Mysore 4. State Bank of Patiala 5. State Bank of Travancore

The State Bank of India and all its associate banks are identified by the same blue keyhole logo. On October 7, 2013, Arundhati Bhattacharya became the first woman to be appointed Chairperson of the bank.


History of RBI The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding, in 1806, of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent. Bank of Madras merged into the other two "presidency banks" in British India, Bank of Calcutta and Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India.Government of India owned the Imperial Bank of India in 1955, with Reserve Bank of India (India's Central Bank) taking a 60% stake, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. State Bank of India is a regional banking behemoth and has 20% market share in deposits and loans among Indian commercial banks.

Current Affairs of May 2015

INTERNATIONAL

South Korea and Vietnam Signed Free Trade Agreement Vietnam and South Korea on 5 signed a bilateral free trade agreement in the Vietnamese capital

of Hanoi, concluding the countries two-year talks. The deal, which was initiated a month back, will enable the trade between the two nations to reach $70 billion a year by 2020.

David Cameron Re-elected as Britains Prime Minister David Camerons Conservative Party on 8 May won the United Kingdom General election 2015 by securing 331 seats in a Parliament of 650.With this win, David Cameron will become Prime

Minister for second term.The elections were held on 7 May 2015. Conservative Party received

36.9% vote share of the total national vote. Labour Party has won 232 seats with 30.4% vote

share, emerging as largest opposition party.

Canadian House of Commons Approved Anti-Terror Act 2015 The Canadian House of Commons on 6 May approved the Bill C-51, Anti-Terror Act, 2015 that

empowers the countrys spy agency. It was adopted in a 183 to 96 vote. The act would give the Canadian Security Intelligence Service (CSIS) the ability to operate overseas and make

preventative arrests. It also makes it easier for police to arrest and detain individuals without

charge.

WHO Declares Liberia Free of Ebola World Health Organization (WHO), a U.N. health agency on 9 May declared Liberia Ebola-free.

Liberia was one of the three West African countries at the center of the largest epidemic of Ebola

till date since the disease was first reported in 1976. The two other countries are Sierra Leone

and Guinea. WHO has hailed Liberias Ebola eradication efforts as an enormous development in the long crisis and monumental achievement as the virus has killed more than 4,716 people in the

country alone.


INDIA & WORLD

India Ranked 140th In 2015 Mothers Index Worlds Mothers 2015 report titled The Urban Disadvantage has been prepared by Save the Children organisation and was launched in India by Union Minority Affairs Minister Najma Heptulla in New Delhi on 6 May 2015. According to the report, India was placed at 140th

position out of 179 countries. Top 5 countries as per 2015 Mothers Index Norway (1st), Finland (2nd), Iceland (3rd), Denmark (4th) and Swedan (5th).

India and China Signed 24 Agreements India and China on 15 May signed 24 agreements to augment bilateral co-operation between the

two countries.The agreements were signed in the presence of Indian Prime Minister Narendra

Modi and Chinese Premier Li Keqiang in Beijing, China. These agreements include protocol for establishment of consulates in Chengdu and Chennai, agreement on the establishment of

sister states Sichuan and Karnataka, action plan between railways of the two countries, MoU on

education exchange programme, MoU between Indias between NITI Aayog and Development Research Centre of China, etc.

India and Mongolia Signed 13 Agreements India and Mongolia on 17 May signed 13 agreements, including an air services agreement and in

cyber security, as Prime Minister Narendra Modi held talks with his Mongolian counterpart

Chimed Saikhanbileg in Ulan Bator,the capital of Mongolia.

India Ranked 100th On Human Capital Index India was on 14 May ranked at a low 100th position on a global Human Capital Index, which

measures the countries in terms of the economies leveraging their human capital, where Finland

has topped the 124-nation list.On the list, compiled by World Economic Forum (WEF), other

emerging economies such as Russia, China, Brazil and South Africa are ranked ahead of India.

NATIONAL

Lok Sabha Passed Goods and Services Tax Bill 2014 Lok Sabha on 6 May passed the Goods and Services Tax (GST) Bill, 2014 which is also known

as Constitution (122nd Amendment) Bill. The Bill seeks to amend the Constitution in order to

introduce the Goods and Services Tax (GST). Consequently, the bill also seeks to carry out new

indirect tax regime in the country that will subsume various central and state levies like sales tax,

excise and service tax except taxes on the supply of alcoholic liquor for human consumption and

petroleum products.Transition from the traditional taxation to GST will boost Indias growth by up to 2.5 percentage points.

PM Narendra Modi Launches Three Social Security Schemes Prime Minister Narendra Modi on 9 May launched three mega social security schemes in


Kolkata, West Bengal. The schemes were launched simultaneously at 115 places in the country

with Central and State Chief Ministers and senior ministers attending the functions.

1) Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY)

2) Pradhan Mantri Suraksha Bima Yojana (PMSBY)

3) Atal Pension Yojana (APY)

1) Atal Pension Yojana (APY) :- Under APY scheme, the pension subscribers will receive a

fixed minimum monthly pension ranging from 1,000 rupees to 5,000 rupees at the age of 60

years. The fixed minimum monthly pension will be depending on the contributions subscribers.

The minimum age of joining 18 years and maximum age is 40 years. Focus of APY To target unorganised sector workers.

2) Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY):- Under the PMJJBY, the insurance

subscriber will get an annual life insurance in case of death. Eligibility Available any person in the age group of 18 to 50 years having a bank account. Risk Coverage 2 Lakh rupees in case of death due to any reason. Payment Mode of premium 330 rupees per annum will be directly auto-debited by the bank from the subscribers account.

3) Pradhan Mantri Suraksha Bima Yojana (PMSBY):- Under the PMSBY, the insurance

subscriber will get annual life insurance in case of accidental death, partial disability or full

disability. Eligibility Available to any person in the age group 18 to 70 years. Risk Coverage For accidental death and full disability 2 Lakh rupees For partial disability 1 Lakh rupees. Payment Mode of premium 12 rupees per annum will be directly auto-debited by the bank from the subscribers account in case of long-term option.

Parliament Passed Black Money Bill The Rajya Sabha on 13 May passed the Black Money Bill. It was earlier passed by the Lok

Sabha on 11 May 2015. According to the new Bill those who conceal income and assets, and

indulge in tax evasion in relation to foreign assets can face rigorous imprisonment of up to 10

years. They will also be liable to face a penalty of 300 per cent of taxes on the concealed income

and assets.

PM Narendra Modi Launched Doordarshans Farmer-Centric Kisan TV Channel Prime Minister Narendra Modi on 26 May launched Indias first television channel DD Kisan dedicated to farmers in New Delhi. This 24-hour channel is initially in Hindi and is dedicated to

agriculture and allied sectors of India. It seeks to disseminate real-time inputs to farmers on new

farming techniques, water conservation and organic farming among other information.

STATES

BHEL commissioned 195 MW Thermal Unit of KBUNL In Bihar State-owned electrical equipment maker Bharat Heavy Electricals Limited (BHEL) on 4 May

commissioned a 195 MW thermal unit of Kanti Bijlee Utpadan Nigam Limited (KBUNL) in

Muzaffarpur, Bihar. This was the first 195 MW unit to be commissioned by BHEL at the 2195

MW Muzaffarpur Thermal Power Station (TPS) Plant of KBUNL.


PM Narendra Modi Inaugurated IISCO Steel Plant at Burnpur Prime Minister Narendra Modi on 10 May inaugurated the upgraded IISCO Steel Plant (ISP) in

Burnpur, West Bengal. The ISP houses the largest blast furnace of India. The ISP was

modernised by the Union Government at a cost of 16000 crore rupees.

UP Govt Launched Samajwadi Water ATM scheme Uttar Pradesh Chief Minister Akhilesh Yadav on 12 May launched Samajwadi water ATM

scheme at bus stations. It seeks to provide potable water to bus passengers at reasonable price.In

this regard, state government will install water ATMs at most of the bus stations which will

provide potable water at the rate of 1 rupee per litre and cold water at 2 rupees per litre.

Punjab Becomes First State To Issue Soil Health Cards To Farmers Punjab Agriculture Department on 13 May launched a pan-state programme to monitor the soil

health of every farm in the state by issuing them personalised Soil Health Cards (SHCs). With

this, Punjab became the first state in India to issue Soil Health Cards to farmers.Prime Minister

had formally launched the nationwide Soil Health Card Scheme from Suratgarh, Rajasthan in Februrary 2015.

CONFERENCES

6th National Conference on Nuclear Energy Nuclear Energy6th National Conference on Nuclear Energy was held in New Delhi on 15 May

2015. The Conference was organised by ASSOCHAM with the theme Nuclear Energy: a Clean

Energy option. The conference discussed the issue related to the status of Nuclear Energy in

India. India is on course to double its nuclear power generation capacity to more than 10,000

mega watts (MW) over the next five years i.e. 2020.Nuclear power plants account for 3.5% of

Indias current electricity generation, and its share in Indias future electricity generation will be less than 10% even if the installed capacity is tripled.

AWARDS & HONOURS

CNR Rao Conferred with Japans Highest Civilian Award Eminent scientist C N R Rao was on 2 May conferred with Japans highest civilian award for his outstanding contributions to science and Indo-Japanese science coperation. The Emperor of

Japan conferred the countrys highest award, the Order of the Rising Sun, Gold and Silver Star, on the Bharat Ratna awardee.Rao is also the only Indian to be elected as a foreign member of the

Japan Academy in Jawaharlal Nehru Centre for Advanced Scientific Research.

Mazen Darwish Honoured with World Press Freedom Prize 2015 The United Nations Educational, Scientific and Cultural Organization (UNESCO) on 3 May

presented the 2015 UNESCO-Guillermo Cano World Press Freedom Prize to Syrian journalist


and rights activist Mazen Darwish. The award was presented in Latvia on the occasion of the

World Press Freedom Day in recognition of the work he has carried out in Syria for more than

ten year as a human rights defender and a journalist.

Pranab Mukherjee Presents Florence Nightingale Awards To 35 Nurses President Pranab Mukherjee on 12 May conferred the National Florence Nightingale Awards to

35 nursing personnel from across the country on the occasion of International Nurses Day.The

Florence Nightingale Award was established by the Union Health Ministry to honour the selfless

services rendered by Nurses with devotion, sincerity, dedication and compassion.

Laszlo Krasznahorkai Won Man Booker International Prize 2015 Hungarian writer Laszlo Krasznahorkai has been announced as the winner of the sixth Man

Booker International Prize 2015. He was announced the winner at an award ceremony at the

Victoria and Albert Museum in London on 20 May 2015. The prize, worth 60,000, is awarded

every two years for an achievement in fiction on the world stage. The Man International Booker

Prize is awarded to a living author of any nationality who has published fiction either in English

or in English translation.

SPORTS & GAMES

Floyd Mayweather Won World Welterweight Title of Boxing American boxer Floyd Mayweather on 3 May defeated Manny Pacquiao from Philippines to win

the unified World Welterweight title.This bout (welterweight category) was held at MGM

Garden Arena in Las Vegas (US).With this win, Mayweather added Pacquiaos World Boxing Organization (WBO) title to his World Boxing Association (WBA) and World Boxing Council

(WBC) crowns. Mayweather earned a mind-boggling Rs. 1142 crore, Pacquiao also pocketed Rs.

761 crore despite losing.

Nico Rosberg Won Spanish F1 Grand Prix Mercedes driver Nico Rosberg of Germany won Spanish Grand Prix Formula 1 World

Championship title by winning the final race held on 10 May at Barcelona in Spain.

Rome Masters Tennis Tournament Winners Womens Singles :- Maria Sharapova of Russia on 17 May won the Rome Masters tennis tournament womens singles title.She defeated Carla Suarez Navarro of Spain. It was the 35th WTA Tour title of Sharapovas career. Mens Singles :- Novak Djokovic of Serbia won his fourth Rome Masters Tennis title. Djokovic defeated Roger Federer of Switzerland.

Mumbai Indians Won IPL 8 Mumbai Indians (MI) on 24 May won the eight edition of Indian Premier League (IPL) 2015 by

defeating Chennai Super Kings (CSK).In the final match played at Eden Gardens, Kolkata they

defeated CSK by 41 runs. This was the second title triumph for Mumbai Indians after their

maiden win back in 2013.


* Man of the Match Rohit Sharma (Mumbai Indians) * Player of the Tournament Andre Russell * Orange Cap (Most Runs) David Warner (Sunrisers Hyderabad) * Purple Cap (Most Wickets) - Dwayne Bravo (Chennai Super Kings)

* Emerging Player Shreyas Iyer (Delhi Daredevils) * Most Valuable Player Andre Russell (Kolkata Knight Riders) * Fair play Award Chennai Super Kings Prize Money :- * Champions Mumbai Indians (Rs 15 crore prize money) * Runner-up Chennai Super Kings (Rs 10 crore) Captains of the two teams :-

* Mumbai Indians Rohit Sharma * Chennai Super Kings MS Dhoni

ECONOMY

56 Indian Companies Among Forbes Global 2000 List US magazine Forbes on 6 May released Global 2000 Companies list. According to the list, India

is home to 56 of the worlds 2000 largest and most powerful public companies.The list is topped by US (579 companies), followed by China (232 companies) and Japan (218 companies).

Reliance Industries, the topmost India company is ranked 142 on the list, down from last years 135th spot.

SBI launches RuPay Platinum Debit Card Indias largest lender State Bank of India (SBI) on 7 May launched State Bank RuPay Platinum debit card in association with National Payment Corporation of India (NPCI). Initially, the card

will be issued free to customers maintaining a quarterly balance of 50000 rupees. The RuPay

card is accepted at all payment channels like ATMs, PoS and eCommerce.

Forbes Worlds 10 Biggest Consumer Financial Services Firms Mortgage lender HDFC has emerged as the only Indian company among the worlds 10 biggest consumer financial services firms, after giants like American Express, Visa and Mastercard.

HDFC is ranked 7th on the list, compiled by business magazine Forbes, where American Express

is placed on the top followed by Capital One Financial, Visa, Discover Financial Services and

Orix in the top-five.

Four Indians Among Forbes worlds 100 Most Powerful Women SBI Chief Arundhati Bhattacharya, ICICI bank head Chanda Kochhar, Biocon founder Kiran

Mazumdar-Shaw and HT Media Chair Shobhana Bhartia were listed in the 12th Forbes100 Most Powerful Women List, which was released on 26 May . Arundhati Bhattacharya ranked

30th on the list, followed by Kochhar on the 35th spot, Mazumdar-Shaw (85) and newcomer on

the list Bhartia is on the 93rd spot.The worlds most powerful woman in the list is German Chancellor Angela Merkel who fetched the first spot.


SCIENCE & TECHNOLOGY

NASA ended Operations of MESSENGER Mission To Mercury NASA on 1 May ended the operations of MESSENGER Mission. MESSENGER stands for

MErcury Surface, Space ENvironment, GEochemistry and Ranging and it was launched on 3

August 2004 to study Mercurys atmosphere. The journey of the spacecraft came to an end with Expected Impact (EI) on Mercurys surface. It plunged to the Mercurys surface at around 14000 kmph, creating a crater up to 52 feet wide.NASAs Messenger probe was launched on 3 August 2004 from the Cape Canaveral Air Force Station in Florida. Messenger was actually an acronym

for Mercury Surface, Space Environment, Geo-chemistry and Ranging.

Akash Weapon System Missile Inducted In Indian Army Indian Army on 5 May inducted the first regiment of the indigenously-developed Surface-to-Air

missile Akash Weapon System (AWS).

About Akash Weapon System (AWS) :-

* Akash Missile is able to target a multitude of aerial threats of upto a range of 25 km.

* Akash has been developed by the Defence Research and Development Organisation (DRDO)

and is being built by Bharat Dynamics Limited (BDL).

* It has a large operational range from a low altitude of 30 metres to a maximum of up to 20 km.

* At 96 per cent indigenisation, it represents a major capability development for a crucial

weapon system.

* The first test flight of Akash missile was conducted in 1990, with development flights

conducted up to March 1997.

Indian Army Test Fires BrahMos Cruise Missile Successfully Land-to-land configuration of BrahMos missile was on 8 May successfully test-fired from the

Car Nicobar Islands.BrahMos BlockIII version i.e. land-to-land configuration of missile was launched from a Mobile Autonomous Launcher (MAL) for its full-range of 290-km test. The

missile flight test met all flight parameters, including high-level manoeuvres.It also hit the

designated land- based target with the desired accuracy.

INS Sardar Patel Commissioned In Porbandar Indias latest naval establishment INS Sardar Patel was commissioned in Porbandar, Gujarat, by state Chief Minister Anandiben Patel on 9 May. It became the second in the state for

the Indian Navy after INS Dwarka near Okha. It has been established as a Forward Operating

Base (FOB) of the Indian Navy. Cmde BR Prakash, VSM who is the Naval Officer-in-Charge

(Gujarat, Diu & Daman) became the first Commanding Officer of INS Sardar Patel.

PERSONS IN NEWS

A) APPOINTMENTS


KV Kamath Appointed as First President of NDB of BRICS nations Eminent banker Kundapur Vaman Kamath was on 11 May 2015 appointed as the first President

of the New Development Bank (NDB) of BRICS nations. He will have of five year term after the

bank becomes operational within one year. He was conferred with Padma Bhushan Award in

2008. The Leaders of Brazil, Russia, India, China and South Africa (BRICS) had meeting in

2014 and reached an agreement to establish the New Development Bank, with its headquarters in

Shanghai. As per the agreement, India got the right to nominate the first president.

Four New Governors Appointed President of India Pranab Mukherjii on 12 May 2015 appointed four Governors and transferred

two others.

Following are newly appointed Governors :- 1) Jharkhand Draupadi Murmu 2) Tripura Tathagata Roy 3) Arunachal Pradesh J P Rakkhowa 4) Meghalaya V Shanmuganathan Transferred Governors :- * Syed Ahmed, Governor of Jharkhand was shifted to Manipur. He was appointed in September

2011. His tenure will end in September 2016.

* Lt General (retd.) Nirbhay Sharma, who was serving as Governor of Arunachal Pradesh since

May, 2011, was transferred and appointed as Governor of Mizoram for the remainder of his

term, which ends in 2018. He is the eighth Governor of the state since 2014.

B)RESIGNS

Tamil Nadu Chief Minister Panneerselvam Resigned Chief Minister of Tamil Nadu O Panneerselvam resigned on 22 May 2015. He was appointed as

the Chief Minister of Tamil Nadu on 29 September 2014 as replacement of former AIADMK

chief J Jayalalithaa, who resigned after being convicted in the 18 year old disproportionate assets

case of over 66 crore rupees. She was awarded a four year prison term by Bangalore Special

Court after it found her guilty of amassing unaccounted wealth.

C)DEATHS

Oscar Winning Author Michael Blake Died Michael Blake, the Oscar-winning writer of Dances With Wolves novel passed away on 3 May

in Tucson, Arizona. He was 69. The novel had sold over 3.5 million copies, and was translated

into 15 languages, and was later converted into film, which Kevin Costner directed and starred

in. The film bagged 7 Oscars including Best Picture and Best Screenplay for Blake, who also

won the WGA Award and Golden Globes for the novel.

D)VISITORS

Prime Minister Narendra Modi Visited China Prime Minister Narendra Modi visited China from 14 16 May 2015. During his three day visit, he met Chinese President Xi Jinping in Xian. In the visit, India and China signed 24 agreements


to augment bilateral co-operation between the two countries. 24 agreements worth over 10

billion dollars were signed after Prime Minister Narendra Modi held talks with Chinese premier

Li Keqiang at Beijing. In the visit, Narendra Modi announced electronic or e-visas for Chinese

tourists. As many as 26 business agreements worth over USD 22 billion were signed on 16 May

between Indian firms including Adani group, Bharti Airtel and Welspun and thier Chinese counterparts. Both the countries will also establish Additional Consulate General. Both the

countries have also agreed to establish China-India think tank forum and three sister cities.

E)MISCELLANEOUS

Pablo Picassos Women of Algiers Sells For World Record $179m at Auction A painting by surreal Spanish artist Pablo Picasso has set a new world record for the most

expensive artwork to be sold at auction after reaching $179m (115m) in New York on 12

May.The previous world record was 92m, set for a triptych by British artist Francis Bacon again at Christies in 2013.Picassos painting depicts nude and semi-nude women and is part of a 15-work series the artist created between 1954-55.

PLACES IN NEWS

Tunisians Unfurled Worlds Largest Flag Worlds largest flag was unfurled at an event in Ong Jmel in the southern desert area of Tunisia. Tunisian national flag of the size of 19 football pitches was unfurled in a bid to set a Guinness

World Record and promote patriotism in the face of Islamist extremism. The flag of 104,544

square metre was made using 80 kilometres of fabric and weighed arounf 12.6 tonnes.

ABBREVIATIONS

PMSBY Pradhan Mantri Suraksha Bima Yojana

PMJJBY Pradhan Mantri Jeevan Jyoti Yojana

APY Atal Pension Yojana

Wi-Fi Wireless Fidelity

DARPA Defense Advance Research Project Agency

BOOKS IN NEWS


Vice President Released The Book China Confucius In The Shadows A Book titled China Confucius in the Shadows was released by the Vice President M. Hamid Ansari on 1 May 2015. Confucius was considered as the most efficient author in Chinese history.

Book has been written by Poonam Surie. Poonam Surie is an Adjunct Fellow at the Institute of

Chinese Studies, New Delhi.

COMMITTEES

Vijay Kelkar Committee To Revisit PPP infra Model Union government on 26 May constituted a 10-member committee to review and revitalise

Public Private Partnership (PPP) mode of infrastructure development. The committee will be

chaired by under former finance secretary Vijay Kelkar and submit its report within a period of 3

months from the date of its Constitution. The Kelkar committee will review the PPP policy and

suggest a better risk-sharing mechanism between private developers and the government after

analysing such projects in different.

IMPORTANT DAYS AND DATES

World Press Freedom Day was Observed On 3 May 2015 The World Press Freedom day was observed globally on 3 May 2015.This year, the theme of

World Press Freedom day is Let Journalism Thrive! Towards better reporting, gender equality

and media safety in the digital age. The day marks the celebrations of the fundamental principles

of press freedom to evaluate press freedom around the world, to defend the media from attacks

on their independence and to pay tribute to journalists who have lost their lives in the exercise of

their profession.World Press Freedom Day was proclaimed by the UN General Assembly in

December 1993, following the recommendation of UNESCOs General Conference in 1991. Since then, 3 May is celebrated worldwide as World Press Freedom Day.

World Asthma Day was Observed On 5 May 2015 World Asthma Day was observed across the world on 5 May 2015. The day is observed across

the world to spread awareness and care around the world including India. The theme for 2015 is

You Can Control Your Asthma and sub-theme is Its Time to Control Asthma.World Asthma Day takes place on the first Tuesday of May. The inaugural World Asthma Day was held in

1998. Asthma is a common chronic inflammatory long-term disease of the lungs which causes

breathing problems by narrowing the airways. Symptoms of asthma include breathlessness,

coughing, wheezing, and feeling of tightness in the chest and shortness of breath.

Current Affairs of April 2015


1. Iran and P5+1 Reached Historic Nuclear Deal Iran, the P5+1 and the European Union (EU) on 2 April conceded on a framework agreement

called as Joint Comprehensive Plan of Action (JCPOA) intended to stop Iran from developing

nuclear weapons. The agreement was reached at Lausannes Beau-Rivage Palace hotel in Switzerland. The informal framework agreement will be used as the basis for evolving the

final draft of JCPOA by 30 June 2015. These 6 world powers are collectively known as P5+1,

or five permanent members of the UN Security Council, namely China, France, Russia, the

United Kingdom, and the United States, plus Germany.

2. Pakistan and Russia Agreed To Hold First Ever Joint Military Exercise Pakistan and Russia have agreed to hold first-ever joint military exercises as part of their

enhanced defence cooperation. In this regard, an agreement was reached between both nations

during a meeting between Russian Defence Minister Sergei Shoigu and his Pakistani

counterpart Khawaja Asif in Moscow on 16 April 2015.

3. China and Pakistan Signed An Agreement On CPEC China and Pakistan on 21 April signed an agreement on China Pakistan Economic Corridor

(CPEC) plan worth 46 billion US dollars. The agreement was signed by Chinas President Xi Jinping and Pakistan Prime Minister Nawaz Sharif. As part of the agreement, China will

provide up to 37 billion US dollar in investment for energy projects to generate 16400 MW of

power. Concessional loans will cover nearly 10 billion US dollar of infrastructure projects.

4. Omar al-Bashir Re-elected As Sudan President Sudans President Omar al-Bashir has won Presidential re-election by securing 94 per cent of the vote on 27 April. With this win, Omar al-Bashir extends his 25-year rule. Omar faces war

crimes charges and is wanted by the International Criminal Court. He is in power since 1989.

In this election Omars National Congress Party (NCP) also won 323 of 426 parliamentary seats.

INDIA & WORLD

1. India Ranked 101 In Social Progress Index India was placed at 101st place in the Social Progress Index (SPI) ratings that were released

globally on 9 April 2015. The SPI, which gives data for 133 countries, is also an alternative to

GDP. After Norway at the top of the rankings, came Sweden, Switzerland and Iceland.

2. India Elected To Four United Nations Agencies India was elected to four important United Nations (UN) agencies on 8 April. These agencies

are United Nations Childrens Fund (UNICEF), World Food Program (WFP), Commission on Crime Prevention and Criminal Justice (CCPCJ) and the Governing Council of UN-Habitat.

India was elected to these bodies at the Coordination and Management Meeting (CMM) of

UNECOSOC (the United Nations Economic and Social Council) held at the UN headquarters

in New York, USA.

3. Canada To Supply Uranium To India For 5 Years Canada on 15 April agreed to supply 3,000 metric tonnes of uranium to energy-hungry India

from this year under a $254 million five-year deal to power Indian atomic reactors, four

decades after bilateral cooperation in this sector was frozen over Indias nuclear programme. The agreement for uranium supply, which came two years after protracted negotiations


following the 2013 civil nuclear deal between India and Canada, was signed after

comprehensive talks Prime Minister Narendra Modi had with his Canadian counterpart

Stephen Harper. Canada is the third country to supply uranium to India after Russia and

Kazakhstan.

4. India Ranks 5th On Global E-Waste Monitor 2014 List According to the Global E-Waste Monitor 2014compiled by United Nation(UN)s think tank United Nations University (UNU), India is the fifth biggest producer of e-waste in the world,

discarding 1.7 million tonnes (Mt) of electronic and electrical equipment in 2014.India came

in fifth, behind the US, China, Japan and Germany.

NATIONAL

1. PM Narendra Modi Launched Indias First National Air Quality Index The National Air Quality Index (NAQI) was launched for the first time in India by Prime

Minister Narendra Modi on 6 April 2015 primarily for assessing the quality of air in major

urban centres across the country on a real-time basis. This National Air Quality Index will

provide information on the quality of air in 10 major cities in the country on a real-time

basis.The ten cities where the quality of air can be monitored are Delhi, Agra, Kanpur,

Lucknow, Varanasi, Faridabad, Ahmedabad, Chennai, Bangalore and Ahmedabad.

2. Union Government Notified NJAC 2014 The Union Government on 13 April 2015 notified the National Judicial Appointments

Commission (NJAC) Act, 2014 and the Constitution (Ninety-ninth Amendment) Act, 2014.

The NJAC Act and 99th Amendment Act were notified in exercise of the powers conferred by

sub-section (2) of section 1 of the Act. With this new law the collegium system to appoint

members to the higher judiciary has come to an end. Now President will appoint judges in the

Supreme Court (SC) and 24 High Courts (HCs) in consultation with the NJAC.

3. MHA renames Visa On Arrival Scheme To E-Tourist Visa Union Ministry of Home Affairs (MHA) on 14 April decided to rename Tourist Visa on

Arrival-Electronic Travel Authorization (TVoA-ETA) scheme as e-Tourist Visa (eTV)

scheme.

4. Rajya Sabha Passed Transgenders Rights Bill The Rajya Sabha on 24 April passed a bill that seeks equal rights for the transgenders.The Rights of Transgender Persons Bill 2014 was introduced by DMK MP Tiruchi Siva. It was the first private members bill to be passed by the Upper House in 45 years. The last time the Lok Sabha passed a private members bill was in 1970. In the Rajya Sabha a private members bill was passed in 1969.

5. Railways Launches Mobile App for Paperless Ticketing of Unreserved Category The Railway Ministry has launched utsonmobile, a mobile application for paperless unreserved tickets. The application service was launched by Union Railway Minister Suresh

Prabhu on 22 April in New Delhi. This application will allow its passenger to buy a ticket on

the move and to board the train with the ticket secured on his mobile phone in digital format,

without any need for printing the ticket. Initially, it has been launched as a pilot project and

cover 15 stations in Southern Railway. Later on it will be extended to entire country in phases.


STATES

1. Gujarat Launched Industrial Tourism To Showcase Development Gujarat government has on 12 April launched industrial tourism package to promote its

development by showcasing its major industrial installations which have earned global

acclaim for state. It is a first of its kind initiative India, offered by Tourism Corporation of

Gujarat Ltd (TCGL) in collaboration with Ahmedabad based Akshar Travels Pvt Ltd. The

tour package is called as Industrial Tour of Gujarat will cover some of the major industrial

attractions of the state.

2. Indian Army Conducts AkramanII Defense Exercise In Rajasthan Indian Army on 26 April conducted a major exercise Akraman-II in Rajasthan. The exercise was conducted by the Chetak Corps, a part of South Western Command based in Bhatinda,

Punjab. The exercise aimed to test a new generation of weaponry and platforms which are

employed in the desert region to provide real time battle and situational awareness to its commanders.

3. Kerala Govt Launched Subodham Project To End Liquor Abuse State Government of Kerala on 19 April 2015 launched Subodham project, to help people in

the state to overcome addiction to liquor.The project was launched by Chief Minister

Oommen Chandy and Art of Living Foundation founder Sri Sri Ravishankar in Kochi.

4. BHEL commissioned 600 MW thermal Unit In Chhattisgarh State-owned power equipment-maker Bharat Heavy Electricals Limited (BHEL) on 13 April

commissioned a 600 MW thermal unit at Dhabra in Janjgir Champa District of Chhattisgarh

for the Dainik Bhaskar Power Limited.This is the second unit of 2 600 MW power project,

commissioned by BHEL. The first 600 MW Unit was commissioned in 2014.

CONFERENCES

5th SAARC Health Ministers Meeting Held In New Delhi The 5th meeting of South Asian Association for Regional Cooperation (SAARC) Health Ministers

was held on 8 April 2015 in New Delhi. The meet ended with the adoption of Delhi Declaration on

Public Health Challenges.The declaration focuses on issues common to member nations of South

Asia Association for Regional Cooperation (SAARC).

AWARDS & HONOURS

1. Subadhra Devi Named For 2015 International Achievement Award Dr Subadhra Devi Rai, an Indian-origin Singaporean nurse, on 2 April 2015 was named for

the 2015 International Achievement Award by the Florence Nightingale International

Foundation (FNIF) of the International Council of Nurses.


2. Adonis Won 2015 Kumaran Asan World Prize For Poetry Paris- based Syrian-Lebanese Arab poet Adonis has been chosen for 2015 Kumaran Asan

World Prize for poetry, instituted by the Kumaran Asan Memorial Association to honour

poets of international stature and introduce them to Indian readers. Adonis was born as Ali

Ahmad Said Esber in Western Syria in 1930. Since 1985, he had settled in Paris, France.

3. Susanta Lahiri Awarded Hevesy Medal Award 2015 Professor Susanta Lahiri was awarded prestigious the Hevesy Medal Award 2015. The award

was presented to him for his outstanding contributions in heavy ion induced radioisotope

production, converter targets, tracer packet technique and green chemistry.

4. Satya Nadella Honoured with the White House Champion of ChangeAward Microsofts Indian-origin CEO Satya Nadella was honoured with the White House Champions of Change on 16 April. He is one of the 12 local Champions of Change who were

honoured for their exemplary leadership. Champions of Change honour is given to those who

support working families and help make change in their companies or communities.

SPORTS & GAMES

1. Mariya Muzychuk Won Womens World Chess Championship World Women Chess Championship 2015 was won by Mariya Muzychuk of Ukraine. She

defeated Russian Natalija Pogonina by 2.5 to 1.5 points in the four-game final.Indian

Grandmaster Dronavalli Harika on 6 April 2015 won Bronze medal along with Swedish

Grandmaster Pia Cramling in the World Womens chess championships held at Sochi, Russia. 2. Sri Lankas Kumar Sangakkara Named Wisden Cricketer of the Year for 2014

Sri Lanka great Kumar Sangakkara has been honoured with the Cricketer of the Year in the

2015 edition of the prestigious Wisden Cricketers Almanack on 8 April. He has become only the second cricketer after Indias Virender Sehwag to be bestowed with the award twice.

3. New Zealand Won Sultan Azlan Shah Hockey Tournament 2015 New Zealand won the Sultan Azlan Shah Cup mens Hockey Tournament title on 12 April.In the final clash played at the Sultan Azlan Shah Stadium in Ipoh, Malaysia, New Zealand

defeated World Champions Australia 3-1.India won Bronze Medal (third position) by beating

south Korea by 4-1 in the penalty shoot-out.

4. Djokovic Won Laureus World Sportsman Of The Year 2015 Award The Laureus World Sports Awards for the year 2015 were given in seven categories on 15

April at Shanghai in China. Ace tennis star Novak Djokovic of Serbia and sprinter Genzebe

Dibaba of Ethiopia were named as the Laureus World Sportsman and Sportswoman of the

2015 respectively.

5. Novak Djokovic Won Monte Carlo Masters Title Novak Djokovic of Serbia won the Monte-Carlo Masters title of Tennis on 20 April. He

defeated Berdych of Czech Republic in the mens singles final. It was his second Monte-Carlo Masters title of Tennis. With this win, Djokovic also became the first player to sweep the

opening three ATP World Tour Masters 1000 events of a season. The previous two titles were

won at Indian Wells and Miami.


ECONOMY

1. Union Government Unveiled new FTP Union Minister of Commerce & Industry on 2 April unveiled Foreign Trade Policy (FTP)

2015-2020. The new trade policy will incorporate government ambitious initiatives such as

Make in India, Digital India mission, Skill India programme, ease of business in order to

boost jobs and take Indias exports to 900 billion dollars by 2020. In the new policy FTP2015-20, two new schemes Merchandise Exports From India Scheme (MEIS) and Services Exports

From India Scheme (SEIS) were introduced.

2. Prime Minister Narendra Modi Launched MUDRA Bank Prime Minister Narendra Modi on 8 April launched the Micro Units Development and

Refinance Agency Ltd. (MUDRA) Bank in New Delhi.The bank will provide credit of up to

10 lakh rupees to small entrepreneurs and act as a regulator for Micro-Finance Institutions

(MFIs). The Pradhan Mantri MUDRA Yojana will be the main support system for the bank

and will be the part of Small Industries Development Bank of India (SIDBI). MUDRA Bank

has been started with an initial corpus of Rs. 20,000 crore. Apart from this, Rs. 3,000 crore

has been earmarked as credit guarantee corpus.

3. India Ranks 125th In the World For Fixed Broadband Penetration According to Telecom Regulatory Authority of India (TRAI) latest report, India ranks 125th

in the world for fixed broadband penetration with only 1.2 per 100 inhabitants and the global

average is 9.4 per 100 inhabitants.This rating puts India behind Sri Lanka and Bhutan. In the

wireless or mobile broadband segment, India is ranked at 113th with a penetration of 3.2 per

100 inhabitants.

4. India Fourth Largest Supplier of Generic Medicines To US India has emerged as the fourth largest supplier of generic medicines to the United States. It

was announced by Minister of State (MoS) for Chemicals and Fertilizers Hansraj Ahir gave

this information in the Rajya Sabha in reply to a question. Indias generic medicines exports have touched over US 4 billion dollars in 2013-14 in spite of stringent regulatory measures

imposed by US. Union Government also announced that Indian pharmaceutical companies are

already exporting generic medicines to Africa, West Asia and European countries.


1. Nuclear-Capable Dhanush Missile Successfully Test Fired India on 9 April successfully test-fired its nuclear-capable Dhanush ballistic missile with a

strike range of 350 km from a naval ship off the Odisha coast. The surface-to-surface

Dhanush, a naval variant of Indias indigenously-developed Prithvi missile, was test fired from a ship in the Bay of Bengal off Odisha coast by the Strategic Force Command (SFC) of

the defence force. Dhanush missile is capable of carrying conventional as well as nuclear

payload of 500 to 1000 kilogram and can hit both land and sea-based targets within 350 km

range.

2. Nuclear Capable Agni-III Ballistic Missile Test Fired Successfully The Surface-to-Surface Agni III ballistic missile was successfully test-fired on 16 April from


the Wheelar Isalnd off the Odisha coast in the Bay of Bengal.Although the missile has a strike

range of more than 3000 km, in the present test-fire, it was tested for a lesser range. The Agni-

III missile is powered by a two-stage solid propellant system.

3. Worlds First Self-Powered Camera Developed Columbia University scientists have created the worlds first self-powered camera. The camera can indefinitely produce an image in each second of any well-lit indoor area. K.

Nayar, a computer scientist of Indian origin, headed the research. He designed a pixel that

apart from measuring incident light also converts it into electric power.

4. Navys Stealth Destroyer INS Visakhapatnam Launched Indian Navys new stealth destroyer named INS Visakhapatnam was launched on 20 April at the Mazgaon Docks Ltd (MDL) in Mumbai, Maharashtra.It was designed indigenously. It is a

Kolkata class warship.It is also the first of P15-B stealth destroyers.The ship weighs 3000

tonnes and is 163 metres long.It is designed to achieve speed of more than 30 knots at

displacement of around 7300 tonnes.INS Vishakapatnam will also be fitted with supersonic

surface to surface missile system.

5. NASA develops First 3-D Printed Copper Rocket Engine Part NASA engineers have developed the first full-scale three dimensional (3-D) printed copper

rocket engine part. The part developed was a combustion chamber liner that operates at

extreme temperatures and pressures using additive manufacturing technique.

PERSONS IN NEWS

A) APPOINTMENTS

Nasim Zaidi Takes Over as new CEC Nasim Zaidi took over as the 20th Chief Election Commissioner (CEC) of India on 19 April.He is

Indias 20th CEC and succeeded Hari Shankar Brahma, who had retired on April 18, 2015.

Loretta Lynch Sworn In As U.S. Attorney General Loretta Lynch on 27 April 2015 was sworn-in as the United States 83rd Attorney General, the first African-American woman to serve as the nations top law enforcement official. She succeeded former attorney general Eric Holder, who left the position on 24 April 2015 after serving as Attorney General

for six years.

B)RESIGNS

ICC president Mustafa Kamal Resigned International Cricket Council (ICC) President A.H.M. Mustafa Kamal resigned from his post on 1

April.Mustafa Kamal is a Bangladeshi politician and cricket official. Apart from being the President

of the Bangladesh Cricket Board (BCB), he was also functioning as the President of ICC since 2014.

He resigned from this post as he was apparently hurt at not being given the opportunity to hand out

the World Cup trophy to champions Australia.

C)DEATHS


Nobel Laureate German Novelist Gunter Grass Died German Nobel laureate novelist Guenter Grass was died on 13 April in Luebeck, Germany. He was

87. He was a novelist, poet, playwright, illustrator, graphic artist, sculptor and recipient of the 1999

Nobel Prize in Literature. His writings mainly focused on the Nazi era, the horrors of the war and the

destruction and guilt that remained after defeat of Germany.

D)VISITORS

Indian Prime Minister Narendra Modi Visited France Prime Minister Narendra Modi visited France from 9-11 April 2015. During the visit, Narendra Modi

met with French President Francois Hollande and had talks with business leaders of select French

companies in defence and infrastructure sectors. India and France signed 17 agreements in various

fields.These included deals on Rafale fighter jets, Jaitapur nuclear reactor, renewable sources of

energy, railways, smart city and several others. Among other agreements signed between India and

France , an important agreement was struck on both the countries proceeding forward on the stalled

nuclear project in Jaitapur in Maharashtra.Narendra Modi visited the CNES (National Centre for

Space Studies) and the Airbus A 380 Assembly Line Facility in Toulouse, France. He gifted a

painting titled Tree of Life, reflecting traditional societal respect for nature in India to the French

President Francois Hollande.

E)MISCELLANEOUS

Minor Planet Named as 4538 Vishyanand Michael Rudenko, a committee member of the Minor Planet Center on 1 April officially named a

minor planet as 4538 Vishyanand, to honour Indias first chess grandmaster, Vishwanathan Anand.The main-belt minor planet was discovered between the orbits of Mars and Jupiter by Kenzo

Suzuki in Toyota, Aichi Prefecture, Japan, on 10 October 1988. Since its discovery, the planet

remained unnamed.

PLACES IN NEWS

Thane Named As National Earth Hour Capital 2015 By WWF Thane in Mumbai, Maharashtra was named as the National Earth Hour Capital 2015 on 9 April 2015.

Thane city won the bid among the three finalists Thane, Pune and Rajkot in the Earth Hour City

Challenge (EHCC) 2015 conducted by World Wide Fund. Seoul city, the capital and largest

metropolis of South Korea, on 9 April 2015 was awarded the title of Global Earth hour Capital 2015

after it won the Earth Hour City Challenge (EHCC) of World Wildlife Fund (WWF).

ABBREVIATIONS

IFCI Industrial Finance Corporation of India


IFSC International Financial Services Centre

UN ECOSOC - United Nations Economic and Social Council

IRENA - International Renewable Energy Agency

SDRF State Disaster Response Fund

BOOKS IN NEWS

Historical Documents Testify The Sovereignty of Senkaku Authored By Tadayoshi Murata The book entitled Historical Documents Testify the Sovereignty of Senkakuauthored by Tadayoshi Murata, an honorary professor at Japans Yokohama National University. The book describes how the Japanese government illegally occupied the Chinese Diaoyu Islands step by step in

the 1890s. Japan has recently intensified its propaganda to claim several uninhabited islands disputed

with its neighbor in the East China Sea, but a Japanese historian refuted the claim and questioned

Tokyos reliability since it has manipulated evidence to mislead the rest of the world on the territorial issue.

COMMITTEES

Union Ministry of Commerce and Industry Constituted Ajay Shankar committee To Simplify

Clearances The Union Ministry of Commerce and Industry on 8 April formed an expert committee under the

chairmanship of Ajay Shankar to suggest simplified compliance for establishing new industries. He is

a former Secretary to the Department of Industrial Policy and Promotion (DIPP). The Expert

Committee has been constituted for examining the possibility of replacing multiple prior permissions

with pre-existing regulatory mechanism and to prepare draft legislation for this purpose.


World Malaria Day Observed Across The World World Malaria Day (WMD) was observed on 25 April 2015 across the world. The day was observed

to highlight the need for continued investment and sustained political commitment for malaria

prevention and control.The day is observed to recognise the global efforts to control malaria. It is an

occasion to highlight the need for continued investment and sustained political commitment for

malaria control and elimination.World Malaria Day was instituted by World Health Organization

(WHO) Member States during the 2007 World Health Assembly.On the occasion of the 2015 World

Malaria Day (WMD), WHO called on the global health community to urgently address significant

gaps in the prevention, diagnosis and treatment of malaria.


World Book and Copyright Day was Celebrated On 23 April 2015 United Nations (UN) observed World Book and Copyright Day across the world on 23 April 2015.

The day is an opportunity to recognise the power of books to change our lives for the better and to

support books and those who produce them. For the year 2015, UNESCO designated Incheon, South

Korea as the World Book Capital 2015 in recognition of its programme to promote reading among

people and underprivileged sections of the population. World Book Day was celebrated for the first

time on 23 April 1995. The day is also known as International Day of the Book or World Book Days

and is organised by the United Nations Educational, Scientific and Cultural Organization (UNESCO)

to promote reading, publishing and copyright. In 1995, UNESCO decided that the World Book and

Copyright Day would be celebrated on 23 April, as the date is also the anniversary of the death of

William Shakespeare and Inca Garcilaso de la Vega, as well as that of the birth or death of several

other prominent authors.

Current Affairs of March 2015

INTERNATIONAL

China Approves New Nuclear Reactors In Industry Revival China is reviving growth of its nuclear power industry with approval of its first new project since

Japans 2011 Fukushima disaster. The Cabinets planning agency on 11 March approved construction of two additional reactors at a power plant in the northeastern province of

Liaoning.China is the worlds biggest energy consumer and nuclear power plays a key role in government plans to curb surging demand for imported oil and gas.

North Korea and Russia Declared 2015 as Friendship Year North Korea and Russia will mark 2015 as a year of friendship and step up bilateral exchanges in

political, economic and cultural sectors.The Democratic Peoples Republic of Korea and the Russian Federation decided to make 2015, in which falls the 70th anniversaries of Koreas liberation and the victory in the great Patriotic War in Russia, as a year of friendship between the

two countries.

Japan and France Signed Defence Agreement Japan and France on 13 March signed a agrrment on military equipment and technology transfers

, in a move to drive cooperation and joint development of defence gear, as Prime Minister Shinzo

Abe strengthens security ties with major powers.

Muhammadu Buhari Elected As Nigerian President Former military ruler Muhammadu Buhari was elected as the president of Nigeria on 31 March,

making him the first opposition candidate to win a presidential vote in the countrys history. This Presidential Election was held on 28 March 2015 all across Nigeria, which is the most populous

country in Africa and is also the largest economy of the continent. Gen. Buharis All Progressives Congress (APC) defeated President Jonathans Peoples Democratic Party (PDP) by over 2 million votes.


INDIA & WORLD

India and Spain Signed Agreement On Defence Ties India and Spain on 5 March signed an agreement on Mutual Protection of Classified Information to provide the framework for an enhanced cooperation in the defence sector. The agreement was signed after the meeting between Spanish Defence Minister Pedro Moremes and

his Indian counterpart Manohar Parrikar in New Delhi.

Saudi Arabia Becomes Top Arms Importer According to the IHS company study report released on 8 March, Saudi Arabia overtook India

to become the worlds biggest weapons importer in 2014, a year when global defence trade rose for the sixth straight year to a record $64.4 billion. The top five importers in 2014 were Saudi

Arabia, India, China, UAE and Taiwan.

India and Seychelles Signed Four Agreements India on 11 March signed four agreements with the Indian Ocean island nation to boost security

and maritime partnership. They were signed in the fields of renewable energy, hydro graphic

survey, electronics navigation and infrastructure development at the island of Seychelles.These

agreements and MoUs were signed by Secretary (West) Navtej Sarna from Indian side in the presence of Prime Minister Narendra Modi and President of Seychelles James Alix Michel.

India and Sri Lanka Signed Four Agreements India and Sri Lanka on 13 March signed four agreements to cement cooperation between the two

neighbours, including a customs pact to balance trade, a credit line of more than $300 million, a

currency swap agreement and visa on arrival for Sri Lankan nationals in India. The agreements

were signed in the presence of Prime Minister Narendra Modi and Srilankan President

Maithripala Sirisena in Colombo.

New UK scholarship Announced For Indian Finance Professionals United Kingdom (UK) Chancellor George Osborne has on 13 March launched the first-of-kind

scholarships for Indian finance professionals who want to study in Britain. The Chevening

Financial Services Leadership programme was launched by Osborne in London.

NATIONAL

Govt To Launch Atal Pension Yojna (APY) On 1 June Atal Pension Yojna (APY), announced in the 2015-16 Budget , will be launched on 1st of June

2015 and will focus on all citizens in the unorganised sector entitling them to a pension of up to

Rs 5,000 per month after 60 years of age. The existing subscribers of Swavalamban Scheme

would be automatically migrated to the APY pension scheme, unless they opt out. The minimum

age of joining APY is 18 years and maximum age is 40 years.


Parliament Passes Citizenship (Amendment) Bill, 2015 Parliament on 4 March passed the Citizenship (Amendment) Bill, 2015. The bill was passed by

Lok Sabha on 2 March and was cleared by the upper house also called Rajya Sabha on 4 March

2015. The bill seeks an amendment in the Citizenship Act, 1955 and to merge the Person of

Indian Origin (PIO) and Overseas Citizenship of India (OCI) schemes.

Lok Sabha Passed Land Acquisition (amendment) Bill, 2015 Lok Sabha on 10 March 2015 passed the Land Acquisition (amendment) Bill, 2015. The bill was

passed by voice vote along with incorporated 9 new amendments moved by Union government.

The bill amends the Right to Fair Compensation and Transparency in Land Acquisition,

Rehabilitation and Resettlement (RFCTLARR) Act, 2013.

Parliament Passed Insurance Laws (Amendment) Bill, 2015 Parliament has passed Insurance Laws (Amendment) Bill, 2015.It was first passed in Lok Sabha

on 4 March 2015 and later in Rajya Sabha on 12 March 2015. In both the houses the bill was

passed by voice vote. The amendment bill replaces ordinance promulgated in this regard and

aims to bring improvements and revisions in the existing laws relating to insurance business in

India.The amendment bill hikes Foreign Direct Investment (FDI) cap in the insurance sector to

49 percent from present 26 percent.

Parliament Passed Mines and Minerals (Development and Regulation) Amendment Bill,

2015 Parliament has passed Mines and Minerals (Development and Regulation) Amendment Bill,

2015. The bill was first passed in Rajya Sabha and later in Lok Sabha on 20 March 2015.The Bill

was passed in Rajya Sabha after the Union government had accepted the recommendations of the

Select Committee. The amendments in the bill were made in the bill passed by Lok Sabha on 4

March 2015.It seeks to amend the Mines and Minerals (Regulation and Development) Act, 1957

and replace the ordinance promulgated in January 2015.

STATES

Aapki Beti Humari Beti Scheme Launched In Haryana Haryana chief minister Manohar Lal Khattar on 8 March launched a scheme for girl child Aapki Beti Humari Beti with an aim to combat the problem of declining child sex ratio in the state. The scheme will cover first-born girl child of Scheduled Caste (SC) and Below Poverty

Line (BPL) families and all second girl child born on or after 22nd January 2015 of all families

in the state.

Maharashtra Government Launched Bhagyashree Scheme Maharashtra Government has launched Bhagyashree Scheme for girl child from Below Poverty Line (BPL) families, on 8 March. Bhagyashree Scheme has replaced the state governments previous Sukanya Scheme. Bollywood actress Bhagyashree is the brand ambassador of the scheme. The Bhagyashree scheme aims at providing one lakh rupee on maturity after the girl

completes 18 years of age.


Assam Govt Launched Momai Tamuli Barbaruah Krishak Bondhu Scheme Assam government has on 15 March launched the Momai Tamuli Barbaruah Krishak Bondhu Scheme to increase agricultural production. Under the programme Momai Tamuli Barbaruah Krishak Bondhu Scheme, facilities and assistance will be provided for double cropping in all the crop areas which have so far been utilised for single cropping only.

Gujarat Legislative Assembly Passes Anti-Terror Bill The Gujarat Legislative Assembly on 31 March 2015 passed Gujarat Control of Terrorism and

Organized Crime (GUJCOC) Bill, 2015. It is third time this controversial Bill being passed by

state assembly. Earlier, passed bill was rejected two times by the then Presidents in 2004 and

2008 for reconsideration.

CONFERENCES

International Conference On Counter Terrorism Indias first conference on Counter-Terrorism was held from 19 21 March 2015 in Jaipur, Rajasthan. The conference was named as International Counter-Terrorism Conference 2015 and

it was organised by India Foundation in association with the Sardar Patel University of Police

Security and Criminal Justice-Jodhpur. The central theme of the Conference is Integrated

Approach to Counter-Terrorism. The Conference was inaugurated by Union Home Minister

Rajnath Singh.The focus of the deliberations was on exploring the contours of 21st century

terrorism and sharing the Counter-Terrorism expertise. Some of the sub-themes on which the

conference focused include 26/11 Mumbai Terror Attack, Talibanisation of Af-Pak region, New

Caliphate in West Asia, Maritime Terrorism and Piracy, Chemical, Biological, Radiological and

Nuclear (CBRN) Terrorism and Cyber and Space terrorism.

AWARDS & HONOURS

Namibian President Hifikepunye Pohamba Won Mo Ibrahim Prize Hifikepunye Pohamba, outgoing Namibian President, on 2 March won the Mo Ibrahim prize for

achievement in African leadership for year 2014.Pohamba served as Namibian President two

terms. For first time he was elected in 2004 and again in 2009. The award is named after Mo

Ibrahim, a British-Sudanese mobile communications entrepreneur and philanthropist, who had

made billions of fortune from investing in Africa.

Veerappa Moily Selected For Saraswati Samman 2014 Former Union minister and senior Congress leader M Veerappa Moily was on 9 March selected

for the prestigious Saraswati Samman for 2014 for his famous Kannada poem Ramayana Mahanveshanam. Divided into five volumes, Ramayana Mahanveshanam was first published in 2007 in Kannada. Later the poem was translated into English, Hindi, Telugu and Tamil.


Activist Rajendra Singh Won Stockholm Water Prize 2015 Rajendra Singh, an eminent environment activist, has been conferred the prestigious Stockholm

Water Prize 2015 for his innovative water restoration efforts and extraordinary courage to

empower communities in Indian villages. He is popularly known as Water Man of India.

Shashi Kapoor Selected For Dadasaheb Phalke Award 2014 Veteran actor and film producer Shashi Kapoor has been named for the prestigious Dada Saheb

Phalke Award 2014. He is the 46th winner of the honour, conferred by the government for

outstanding contribution to the growth and development of Indian Cinema. The 2014 Dadasaheb

Phalke award to Shashi Kapoor made him the third member of Kapoor family to receive the

award after Prithviraj Kapoor and Raj Kapoor.

62nd National Film Awards 2014 The 62nd National Film Awards for year 2014 was announced on 24 March 2015. Court

directed by Chaitanya Tamhane was selected as the Best feature film. Mary Kom (Hindi)

directed by Omung Kumar was selected as the Best Popular film providing wholesome

entertainment. The 62nd National Film Awards in the various categories are as follows:-

* Best Actor Vijay for Nanu Avanalla Avalu (Kannada). * Best Actress Kangana Ranaut for Queen (Hindi). * Best Direction -Srijit Mukherji, Director of Chotushkone (Bengali).

* Best Hindi Film Queen * Best Childrens Film - Kaakkaa Muttai (Tamil) and Elizabeth Ekadashi (Marathi). * Indira Gandhi Award for Best Debut Film of a Director Aditya Vikram Sengupta for Asha Jaoar Majhe (Bengali).

* Nargis Dutt Award for Best Feature Film on National Integration Chotoder Chobi (Bengali) directed by Kaushik Ganguly.

SPORTS & GAMES

Karnataka Won Ranji Trophy 2015 Karnataka on 12 March won their eighth Ranji Trophy title of cricket. In the title clash played at

the Wankhede stadium in Mumbai, Karnataka defeated Tamil Nadu by an innings and 217 runs.

Karnataka defeated Tamil Nadu by an innings and 217 runs in the final day of match played at

the Wankhede stadium in Mumbai.The man of the match was Karnatakas Karun Nair who had scored 338 runs.

India Open Super Series Badminton 2015 Winners Womens Singles :- Indias ace shuttler Saina Nehwal on 29 March won India Open Super Series Badminton Womens Singles 2015 Title. She defeated Thailands Ratchanok Intanon in the final match played at Siri Fort Indoor Complex in New Delhi.

Mens Singles :- Indias Srikanth Kidambi has won India Open Super Series Badminton Mens Singles 2015 Title. In the final match he defeated Denmarks Viktor Axelsen.


Australia Won ICC Cricket World Cup For 5th time Australia on 29 March 2015 won the ICC Cricket World Cup 2015 for the record fifth time. In

the final match Australia defeated co-hosts of the tournament, New Zealand by 7 wickets played

at the iconic Melbourne Cricket Ground (MCG), Australia. Australia fast bowler Mitchell Starc

was named the Player of the Tournament who finished with a figure of 22 wickets in the

tournament. He was tied with New Zealand left-arm seamer Trent Boult for taking highest

wickets in the tournament. Australian all-rounder James Faulkner was adjudged man of the

match, while the man of the series award went to Mitchell Starc. He finished the tournament with

22 wickets.

Saina Nehwal Becomes First Indian Woman To Attain World No.1 Ranking Ace shuttler Saina Nehwal on 28 March created history by becoming first Indian woman to be

ranked number one in the world in Badminton World Federation (BWF) rankings in Womens Singles category. She achieved this rare feat after Spains Carolina Marins lost her semi-final match to Thailands Ratchanok Intanon in the Indian Open Super Series. Saina has overtaken Chinas Li Xuerui to become the highest ranked player in the world. Saina Nehwal is the second Indian badminton player to achieve this feat, after legendary shuttler Prakash Padukone. He had

achieved the top rank in 1980 in Mens Single Category.

ECONOMY

RBI reduced Repo Rate By 25 Basis Points To 7.5 percent The Reserve Bank of India (RBI) on 4 March reduced the repo rate by 25 basis points to 7.5

percent with immediate effect. This is the second time since January 2015 that RBI reduced the

repo rate by 25 basis points. With this, the reverse repo rate under the LAF stands adjusted to 6.5

percent, and the marginal standing facility (MSF) rate and the Bank rate to 8.5 percent.

Indias Billionaires To Rise 104% By 2024 According to the latest Knight Frank Wealth Report, as of 2014,Wealth creation in India is likely

to accelerate significantly with the number of ultra-wealthy individuals expected to double to

3,371 by 2024. India is home to 1,652 ultra high net worth individuals (UHNWIs), which is

likely to swell to 3,371 by the year 2024, registering a jump of 104 per cent. The number of

UHNWIs in India has increased from 622 in 2004 to 1,652 in 2014, registering a rise of 166 per

cent over the past decade (2004-2014). At 0.1 UHNWI per lakh population, India ranks a distant

84 among 97 countries globally in terms of equitable distribution of wealth.

Indian Railways Signed MoU with LIC For Rs 1.5 lakh crore Investments Indian Railways on 11 March signed an Memorandum of Understanding (MoU) with Life

Insurance Corporation (LIC) to raise Rs 1.5 lakh crore for financing the development of its

various commercially viable infrastructure projects. Under this MoU, LIC will make available a

Financial Assistance of 150000 crore rupees to the Indian Railways for implementing Railway

projects over the next five years. The Financial Assistance will be available from the Financial

Year 2015-16.


India Becomes 3rd Biggest Steel Producer Over Takes US India has become the third-largest steel producer in the world by overtaking United States (US)

in first two months of year 2015. It was revealed in the Data compiled by World Steel

Association (WSA) on 22 March.Indias production in first two months i.e. January- February of 2015 was 14.56 million tonnes (MT). This production growth was the highest during this two

month period at 7.6% as compared to the global average of just 0.6% at 127.6 MT.China tops in

steel production and accounts for nearly half of the global steel production. During this period

China has produced 65 MT steel.


SpaceX Rocket Lifts Off with Worlds First All Electric Satellites Worlds first electric satellites were successfully lifted off by a Space Exploration (SpaceX) Technologies rocket from Cape Canaveral Air Force Station, United States on 1 March. The

rocket was carrying two all-electric commercial satellites built by Boeing. The satellites are

owned by the French satellite provider Eutelsat and Asia Broadcast Satellite (ABS).

NASAs Dawn Spacecraft Completed Its Orbit Around Dwarf Planet Ceres NASAs Dawn space probe has on 6 March completed its orbit around dwarf planet Ceres which is the largest object in the Solar System between Mars and Jupiter. With the completion of orbit,

Dawn probe has become first spacecraft to visit dwarf planet. Dawn has taken 7.5 years to reach

the orbit of Ceres.

Solar Impulse 2 Begins Its Journey Around the World Solar Impulse 2, a solar-powered airplane, started its historic 35,000-km round-the-world journey from Abu Dhabi on 9 March 2015. Solar Impulse-2 took off from Abu Dhabi on its 5-

month long journey in which it will skip from continent to continent, crossing both the Pacific

and Atlantic oceans in the process. Andre Borschberg and Bertrand Piccard are the two pilots of

this mission.

Pakistan Successfully Tests Indigenous Drone Burraq and Barq Pakistan on 13 March successfully tested its first indigenously built all-weather armed drone

named Burraq and a laser guided missile named Barq.By successfully testing of Burraq, Pakistan

became the 9th country in the World to develop an unmanned combat aerial vehicle (UCAV)

domestically.

ISRO successfully Launched Fourth Navigation Satellite IRNSS 1D Indian Space Research Organization (ISRO) on 28 March 2015 successfully launched fourth

navigation satellite Indian Regional Navigation Satellite System (IRNSS) 1D. Polar Satellite

Launch Vehicle (PSLV) C27 injected IRNSS 1D into the designated orbit from the first launch

pad of Satish Dhawan Space Centre in Sriharikota in Andhra Pradesh. This was the 28th

consecutive successful flight of PSLV. IRNSS is a navigation system that will cover India, and

also extend 1,500 kms from its boundaries. It will provide accurate position information to users


in India. Basically it will provide two kinds of services, Standard Positioning Services, which is

available to all users, and an encrypted service that is provided only to authorized users.

PERSONS IN NEWS

A) APPOINTMENTS

Jagmohan Dalmiya Elected as BCCI president agmohan Dalmiya was unanimously elected as the President of the Board of Control for Cricket

in India (BCCI) at Annual General meeting held in Chennai on 2 March.Dalmiya had served

BCCI as its President between 2001 and 2004. He also served as the President of International

Cricket Council (ICC) between 1997 and 2000.

Venkatraman Ramakrishnan Named as President of Britains Royal Society Nobel laureate Sir Venkatraman Ramakrishnan on 18 March was named as the President of

Britains prestigious Royal Society, a communion of the many of the worlds most distinguished scientists. Ramakrishnan, who will take up the post on the 1 December 2015, will succeed

geneticist Sir Paul Nurse, also a Nobel Laureate.

B)RESIGNS

Union Minister Dadarao Danve Resigns Union Minister Minister of State (MoS) for Consumer Affairs, Food and Public Distribution

Raosaheb Dadarao Danve on 5 March resigned from the office. Raosaheb Danve resigned from

the Union Council of Ministers following the Bharatiya Janta Party (BJPs) one-man, one-post

principle after he was appointed President of Maharashtra in January 2015. He took over as

Maharashtra BJP president after Devendra Fadnavis became the Chief Minister state who had led

the party to power in October 2014 Assembly elections.

C)DEATHS

Senior Journalist Vinod Mehta Died Senior journalist and former editor of Outlook, Vinod Mehta died on 8 March in New Delhi. He

was 73. Mehta, who had founded the Outlook Magazine and served as its Editor-in-Chief, last

held the post of editorial Chairman of the publication. Vinod Mehta was born on May 31, 1942

in Rawalpindi, West-Punjab region of undivided India (now in Pakistan). He wrote the best-

selling autobiography Lucknow Boy in 2011. He has authored a biography of Meena Kumari (movie actress and poet) and Sanjay Gandhi- The Sanjay Story (2012).

D)VISITORS

Prime Minister Narendra Modi Visited Sri Lanka Prime Minister Narendra Modi visited Sri Lanka on 13 14 March 2015. The visit follows President Maithripala Sirisenas first overseas visit to India in February 2015. During his two


day visit Narendra Modi met Srilankan President Maithripala Sirisena in Colombo.In the visit,

India and Sri Lanka signed four agreements. Narendra Modi also announced e-visa on arrival

services for Sri Lankans, a $ 318 million Line of Credit to upgrade Sri Lankas railways, and a promise to build Trincomalee as a petroleum hub, while seeking movement on the 500 MW

Sampur power project, that has been delayed for years due to environmental concerns.

E)MISCELLANEOUS

PM Narendra Modi Among 30 Most Influential People On Internet Prime Minister Narendra Modi has been named among the 30 most influential people on the

internet by Time magazine in a list which also features US President Barack Obama. The list,

which analysed social-media followings, site traffic and overall ability to drive news, also

includes British author of the Harry Potter series J K Rowling and singers Taylor Swift and

Beyonce. The list was released on 6 March 2015.

PLACES IN NEWS

Worlds Largest and Tallest Indian Flag Unfurled In Faridabad Worlds largest and tallest Indian national flag was unfurled on 3 March 2015 at Town Park in Faridabad, Haryana.It was unfurled by Bhartiya Janta Party President Amit Shah.The flag has

dimension of 96 feet by 64 feet and weighs 48 kilograms. Flag was hoisted at the height of 250

feet (75 meters). Thus, making it the worlds largest and the highest hoisted Indian flag in the world.

ABBREVIATIONS

NABARD - National Bank for Agricultural and Rural Development

BCCI Board of Control for Cricket in India

EPFO Employees Provident Fund Organization

UNICEF United Nations Childrens Fund

NSE National Stock Exchange

BOOKS IN NEWS


The Modi Effect Authored by Lance Price Book titled The Modi Effect: Inside Narendra Modis Campaign to Transform India written by Lance Price, former media advisor to the then British Prime Minister Tony Blair.The book

was published in the month of March 2015 in India by Hachette. The book is based on the

authors interviews with the prime minister, his Cabinet colleagues like Piyush Goyal, Prakash Javadekar and Smriti Irani and his team of advisers and analysts.

COMMITTEES

Ajay Shankar Committee Constituted To Review The Existing PPP Cell In Railway Board The Ministry of Railways appointed Ajay Shankar committee on 25 March to review the

performance of the Public Private Partnership (PPP) cell functioning under the Railway

Board.Ajay Shankar is a former Secretary, Department of Industrial Policy and Promotion

(DIPP) under Union Ministry of Commerce and Industry.


World Tuberculosis Day was Observed On 24 March World Tuberculosis Day 2015 was globally observed on 24 March 2015. The theme for the year

2015 is continuation of the 2014 theme Reach the 3 Million. The main sub-theme and message

for the year 2015 is Reach, Treat, Cure Everyone. The World Tuberculosis Day is annually

celebrated on 24 March to commemorate the day on which Dr. Robert Koch discovered the

cause of tuberculosis, the TB bacillus in 1882. The day aims to build public awareness about the

global epidemic of tuberculosis (TB) and efforts to eliminate the disease.

World Water Day 2015 World Water Day 2015 was globally observed on 22 March 2015 with the theme Water and

Sustainable Development. The theme for the WWD 2015 talks about how water links to all areas

we need to consider creating the future we want. World Water Day is celebrated every year to

make a difference for the members of the global population who suffer from water related issues.

Its a day to prepare for how we manage water in the future.

Highlights of Union Budget 2015-16

Three Key achievements:

1. Financial Inclusion - Rs.12.5 crores families financially mainstreamed in 100 days.

2. Transparent Coal Block auctions to augment resources of the States.

3. Game changing reforms on the anvil:

Goods and Service Tax (GST)

Jan Dhan, Aadhar and Mobile (JAM) - for direct benefit transfers.


STATE OF ECONOMY:

1.CPI inflation projected at 5% by the end of the year.

2. Monetary Policy Framework Agreement with RBI, to keep inflation below 6%.

3. GDP growth in 2015-16, projected to be between 8 to 8.5%

4. The fiscal deficit targets are 3.9%, 3.5% and 3.0% in FY 2015-16,

2016-17 & 2017-18 respectively.

5. Direct Transfer of Benefits to be extended further with a view to increase

the number of beneficiaries from Rs.1 crore to Rs.10.3 crore.

6. Target of Rs.8.5 lakh crore of agricultural credit during the year 2015-16

7. Rs.5,300 crore to support micro-irrigation, watershed development and the

Pradhan Mantri Krishi Sinchai Yojana.

8. Pradhan Mantri Suraksha Bima Yojna to cover accidental death risk of

Rs.2 Lakh for a premium of just Rs.12 per year.

9. Pradhan Mantri Jeevan Jyoti Bima Yojana to cover both natural and

accidental death risk of Rs.2 lakh at premium of Rs.330 per year for the age group

of 18-50.

10. 5 new Ultra Mega Power Projects, each of 4000 MW, in the Plug-and-Play mode.

11. Rs.1000 crores to the Nirbhaya Fund

12. Visas on arrival to be increased to 150 countries.

13. An IIT to be set up in Karnataka and Indian School of Mines, Dhanbad to be

upgraded in to a fullfledged IIT.

14. New All India Institute of Medical Science (AIIMS) to be set up in J&K,

Punjab, Tamil Nadu, Himachal Pradesh and Assam. Another AIIMS like institutions

to be set up in Bihar.

15. A post graduate institute of Horticulture Research & Education is to be set up in Amritsar.

16. 3 new National Institute of Pharmaceuticals Education and Research in Maharashtra,

Rajasthan & Chattisgarh and one institute of Science and Education Research

is to be set up in Nagaland & Orissa each.

17. University of Disability Studies will be established in Kerala. 50

18. In Arunachal Pradesh, Centre of film production, animation and gaming will come up.

19. For Infrastructure sector Rs. 70,000 crores allocated. Projects in rail road and

irrigation bonds will be tax free.

20. For Rural Infrastructure Development Bank, Rs. 25,000 crore allocated.

21. Target of renewable energy capacity revised to 175000 MW till 2022,

comprising 100000 MW Solar, 60000 MW Wind, 10000 MW Biomass and 5000 MW

Small Hydro.

22. Forward Markets commission to be merged with SEBI.


23. National Investment and Infrastructure Fund (NIIF), to be established with an

annual flow of

Rs.20,000 crores to it. Tax free infrastructure bonds for the projects in the rail, road

and irrigation

sectors

BUDGET ESTIMATES:

>Gross Tax receipts are estimated to be Rs. 14,49,490 crore.

>Total Expenditure has accordingly been estimated at Rs.17,77,477 crore.

>Fiscal deficit will be 3.9 per cent of GDP and Revenue Deficit will be 2.8 per cent of GDP.

TAX PROPOSAL:

>implement GST from next year.

>No change in rate of personal income tax.

>Proposal to reduce corporate tax from 30% to 25% over the next four years,

starting from next financial year.

>Wealth-tax replaced with additional surcharge of 2 per cent on super rich

with a taxable income of over Rs.1 crore annually

>PAN being made mandatory for any purchase or sale exceeding Rs. 1lakh.

>Evasion of tax in relation to foreign assets to have a punishment of rigorous

imprisonment upto 10 years, be non-compoundable, have a penalty rate of 300%

and the offender will not be permitted to approach the Settlement Commission.

>Non-filing of return/filing of return with inadequate disclosures to have a

punishment of rigorous imprisonment upto 7 years.

>General Anti Avoidance Rule (GAAR) to be deferred by two

years.GAAR to apply to investments made on or after 01.04.2017, when

implemented.

>Domestic transfer pricing threshold limit increased from Rs.5 crore to Rs.20 crore.

>Excise duty on footwear with leather uppers and having retail price of more than Rs.1000 per pair reduced to 6%.

>Education cess and the Secondary and Higher education cess to be subsumed in

Central Excise

Duty.

>Time limit for taking CENVAT credit on inputs and input services increased from

6 months to 1

year.

>Service-tax plus education cesses increased from 12.36% to 14% to facilitate


transition to GST. >Online central excise and service tax registration to be done in

two working days.

>100% deduction for contributions, other than by way of CSR contribution, to

Swachh Bharat Kosh and Clean Ganga Fund.

>Clean energy cess increased from Rs.100 to Rs.200 per metric tonne of coal,

etc. to finance clean environment initiatives.

Benefits to middle class tax-payers:

>Limit of deduction of health insurance premium increased from Rs.15000 to

Rs.25000, for senior citizens limit increased from Rs.20000 to Rs.30000

>Senior citizens above the age of 80