General awareness is a very crucial aspect in MBA Entrance Exam Preparation. Hence, as a potential MBA aspirant, it is vital that your GA quotient must be high. This article is aimed at enhancing your knowledge about the important news and happenings that took place in the world during this week (22nd to 29th feb). It will help you in your preparation for the MBA competition exams in which you wish to excel.
1. On 25th February 2016, the Union Railway Minister Suresh Prabhu presented the Railway Budget 2016-17 in the Lok Sabha. It is the second full year Budget presented by the NDA government. The Railway Budget 2016–17 is focused on improving the overall quality of life in train journeys.
Theme of the Rail Budget: “Overcoming challenges – Reorganize, Restructure Rejuvenate Indian Railways: Chalo, Milkar Kuch Naya Karen”.
Budget allocated to Indian Railways: Rs. 121000 crore rupees this year.
2. On 29 February 2016, Union Finance Minister, Arun Jaitley presented Union Budget 2016-17 in the Lok Sabha. The highlights of the budget are:
3. On 22 February 2016, 26 non-banking financial companies (NBFCs) faced cancellation of the certificate of registration by the Reserve Bank of India (RBI). RBI cancelled the certificate of registration of these 26 NBFCs in exercise of the powers conferred on it, under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
As a consequence, these 26 NBFCs cannot transact as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
1. On 25 February 2016, a bill recognizing civil unions for same-sex and heterosexual couples was approved by the Senate of Italy. As per the bill, following rights have been granted to them:
• right to a residence permit for foreign partners, and
• right to take a same-sex partner's name
2. Kosovo has got a new President ‘Hashim Thaci’ on 26 February 2016. He was elected by the Members of Parliament, amid the protests. He succeeded Atifete Jahjaga as head of state after winning the required simple majority in the voting held in Pristina.
Previous presidents of Kosovo are:
3. The Parliament of Pakistan became the world’s first parliament to run fully on solar power on 23rd February 2016. The solar power system was inaugurated by Prime Minister Nawaz Sharif. About the project:
1. Shyama Prasad Mukherjee National Rurban Mission was launched on 21st February 2016 by the Prime Minister ‘Narendra Modi’. The mission seeks to develop smart village on the line of smart cities and reduce the burden of migration on the cities by adopting ‘cluster approach’. Rurban mission was launched at Kurubhat village in Chhattisgarh. This mission would cater to 16 village panchayats - Kurrubhat, Bhagwantola, Bhandarpur, Haransinghi, Jamri, Jatkanhar, Khallari, Matketa, Medha, Mudhpar, Murmunda, Nagtarai, Pinkapar, Pipariya, Rajkatta and Raka.
2. A collaborative agreement between the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) and the World Health Organization (WHO) has been approved and signed off by the Union Cabinet on 17 February 2016.
This agreement will help the Ministry in leveraging the WHO’s potential to improve acceptability and branding of Ayush systems globally. The program aims to generate awareness about the AYUSH system through:
3. Resul Pookutty (Sound Designer) has become the first Asian to win the award of Best Sound for documentary ‘India’s Daughter’ on 27 February 2016 at the Motion Picture Sound Editors’ (MPSE) 63rd annual Golden Reel Awards. The other competing movies in the same category were:
• Beware Baltimore
• Chef’s Table
• Deadliest Catch
• The Undrafted,
• Mad Max: Fury Road,
• The Martian,
• Star Wars: The Force Awakens &
• The Revenant
4. A high-thrust cryogenic engine CE-20 has been tested by the Indian Space Research Organization (ISRO) on 19 February 2016.
The testing was conducted at the Propulsion Research Centre in Mahendragiri, Tamil Nadu. The biggest rocket made in India i.e. GSLV Mark 3, will launch the 4-tonne satellites into geosynchronous orbit.
1. On 26 February 2016, Mumbai won the Ranji Trophy with an innings and 21 run victory over Saurashtra. Mumbai won the trophy for the first time in three seasons. Shreyas Iyer was named man of the match for scoring 117 runs. Karnataka stands second in the overall Ranji standings with eight titles.
2. At the 7th Asian Indoor Athletics Championships which was held in Doha, Qatar, India's Kumaravel Prem Kumar won the silver medal in the long jump on 22 February 2016.
Kumaravel Prem Kumar Om Prakash Singh Karhana
In the same competition another Indian Om Prakash Singh Karhana bagged a bronze medal in shot put as well. In all, the Indians signed off the competition in Doha with:
3. On 21 February 2016, an Italian woman Tennis player ‘Francesca Schiavone’ won Rio Open title by defeating Shelby Rogers of America. It is her seventh title in the career as a Tennis player. She won her first Grand Slam title in the 2010 French Open.
Italian Tennis Player Francesca Schiavone