Current Affairs | Daily GK Updates : 6th May 2019
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Current Affairs (National)
♦ India to attend G-7 meet in France
- India will be attending the Group of 7 industrialised nations meet organised by France in Biarritz in August along with Australia, Chile and South Africa, in a sign of the recognition of India’s growing economic heft in the international arena.
- According to analysts, the invitation clearly reflects the strong strategic connect between India and France.
- The invitation to Australia, France and Chile besides India reflects the French emphasis on the Indian Ocean and the Pacific region, a person familiar with the developments said.
Current Affairs (International)
♦ ADB launches $US5 billion ocean health initiative
- The plan was announced at the ADB board of governor’s meeting, held last week in Fiji.
- The Action Plan for Healthy Oceans and Sustainable Blue Economies targets maritime welfare in the Asia-Pacific.
- ADB president Takehiko Nakao said it was part of a more, “resilient future, where humanity and oceans thrive together”.
- Of the world’s 10 rivers carrying the most plastic pollution to the ocean, the ADB said eight were in the region.
- Without immediate action, the ADB said about 90 percent of the region’s coral reefs could be dead by 2050.
- The subsequent collapse of fish stocks would threaten food security and livelihoods, especially in Pacific countries.
- The ADB plan includes financing and technical assistance to develop sustainable tourism and fisheries, protect marine ecosystems, reduce pollution, and improve the sustainability of coastal infrastructure like ports.
Banking and Finance
♦ In a first, income tax e-filers fall by more than 660,000 in FY19
- In a first in recent history of tax filings, income tax e-filings in FY2019 have dropped by more than 6.6 lakh, a trend that analysts said was surprising as tax base was expected to increase post demonetisation.
- According to statistics put out on Income Tax Department’s e-filing website, income tax e-filings in FY 2018-19 was 6.68 crore, down from 6.74 crore in the previous fiscal.
- E-filers in FY 2016-17 were 5.28 crore.
- Kotak Economic Research in an April 30 report said: “We are surprised with the decline in income tax e-filing in FY2019.” “If the filings are indeed plateauing, it will be a worry for the fiscal which has seemingly shifted its focus to compensatory expenditure,” it said. “Tax filings have surprisingly plateaued in FY2019.
- This is surprising given that post demonetisation it was expected that the tax base would continue to increase.” However, registered filers have been on the rise – they grew by 15 per cent to 8.45 crore as on March 31, 2019, the e-filing website showed.
♦ April service sector growth at 7-month low, dented by LS elections : PMI
- India’s services sector expanded at its slowest pace in seven months in April as some businesses postponed decisions and expansion plans until seeing results of the general election currently under way, a private survey showed on Monday.
- The Nikkei/IHS Markit Services Purchasing Managers’ Index slipped to 51.0 in April, the lowest since September, down from 52.0 the previous month.
- It remained above the 50 mark, the threshold separating growth from contraction, for an 11th consecutive month.
- “Although the Indian private sector economy looks to be settling into a weaker growth phase, much of the slowdown was linked to disruptions arising from the elections and companies generally foresee improvements once a government is formed,” Pollyanna De Lima, principal economist at IHS Markit, said.
♦ Myntra ropes in Virat Kohli, Anushka Sharma as first brand ambassadors
- Star couple Virat Kohli and Anushka Sharma have been roped in as the first official brand ambassadors of Flipkart-owned ecommerce platform, Myntra.
- Its campaign ‘Go Myntra-la-la’ brings alive the joyful experience of shopping and kicks-off with an ad film starring the star couple, read a statement.
- Virat and Anushka share a lot of common passions, and shopping is one of them.
- Amar Nagaram, Head at Myntra-Jabong, said: “The association of Bollywood and sports with fashion needs no introduction and hence having Virat and Anushka as the face of this new campaign will enable us to build strong brand salience and establish the joy and convenience of shopping on Myntra.”
Books and Author
♦ Shahid Afridi’s book “Game Changer”
- So it turns out we know little about Pakistan’s former cricket captain Shahid Afridi. In a new book, called ‘Game Changer’, Boom Boom – as he is popularly called – has decided to come clean – about his age, his experiences and THAT infamous match-fixing scandal. And in doing so, he’s done some explosive revealing.
♦ Launch of Fourth Scorpene Class Submarine – VELA
- Vela, the fourth Scorpene class submarine being constructed by Mazagon Dock Shipbuilders Limited for the Indian Navy, was launched today, on 06 May 2019, by Mrs Veena Ajay Kumar, wife of Dr Ajay Kumar, IAS, Secretary Defence Production, who was the Chief Guest on the occasion.
- VAdm AK Saxena, CWP&A was also present during the launching ceremony. This event reaffirms the steps taken by Mazagon Dock Shipbuilders Ltd (MDL) in the ongoing ‘Make In India’ programme, which is being actively implemented by the Department of Defence Production (MoD).
- The submarine was towed to Mumbai Port Trust, for separation from the pontoon, after which she will undergo rigorous trials and tests, both in harbour and at sea before delivery to the Indian Navy.
♦ Saurav Ghosal and Joshna Chinappa emerged champions in the Asian squash championship
- Saurav Ghosal and Joshna Chinappa emerged champions in the Asian squash championship here on Sunday. This is the first time two Indians have finished on top in the same tournament.
- An unprecedented feat that eluded the Indians in Chennai two years ago became a reality in Malaysia when Joshna, the second seed, successfully defended her title shocking the top seed Annie Au of Hong Kong 11-5, 8-11, 11-6, 11-6.
- Soon after, Ghosal, the top seed and finalist last year, ensured there was no slip-up this time when he downed the fourth seed Leo Au Chun Ming, also of Hong Kong, 11-9, 11-2, 11-8.
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