Karnataka Government waives off Rs 34000 cr farm loan
• Karnataka Chief Minister H D Kumaraswamy on July 5, 2018 announced a Rs 34000 crore worth farm loan waiver in the maiden budget of the state’s Congress-JDS run coalition government.
• Unveiling the budget proposals in the state assembly, Kumaraswamy who also holds the finance portfolio said that he had limited the loan amount to Rs 2 lakh, as it was not right to waiver higher value crop loan.
• To mobilise resources, the Chief Minister has proposed in the budget to increase tax on petrol from 19 to 21 per cent, additional excise duty on IML by 4 per cent, tax on electricity from 6 to 9 per cent and Motor Vehicles Tax by 50 per cent on private service vehicles.
• Besides this, it has been decided to credit the repaid loan amount or Rs 25000, whichever is less, to each of the farmers account to help farmers who had repaid the loan within time.
Tendulkar launches Kit Up Challenge
• One of India’s greatest cricketers of all times, Sachin Tendulkar has taken to social media to launch #KitupChallenge to encourage people to start playing sports.
• Posting a video of himself putting on his cricketing gear and getting ready to play, Tendulkar asked the viewers to take up a sport of their choice.
• As part of the challenge, Tendulkar called upon the viewers to post a short video of themselves on social media while getting ready to play a sport and use the hashtag to nominate others in the process.
• Tendulkar’s new initiative aims to promote overall fitness and encourage Indians to inculcate an active lifestyle through the joy of playing sports.
CCI launches an Online Guidance System to determine notifiability of Merger & Acquisitions
• Supplementing the Union Government’s vision for e-Governance and Digital India Programme, the Competition Commission of India (CCI) on July 4, 2018 launched an Online Guidance System for determining notifiability of merger & acquisitions (combinations) in terms of the Competition Act, 2002.
• The Guidance System has been named as ‘Do It Yourself (DIY): A notifiability check for mergers & acquisitions under the Competition Act, 2002’.
• The online guidance system has been launched as part of CCI’s outreach initiatives and measures to simplify compliance requirements regarding combinations.
• The interactive online application has been developed based on relevant provisions of the Competition Act, 2002, relevant regulations issued thereunder and exemption notifications issued by the Ministry of Corporate Affairs.
World Heritage meeting concludes with 19 new sites added to list
• The 42nd World Heritage Committee meeting concluded on July 4, 2018 in Bahrain's capital Manama, with 19 new sites inscribed to the World Heritage List.
• The meeting, which opened on June 24, added 13 cultural sites, three natural sites and three mixed ones to the World Heritage List, including Germany’s Naumburg Cathedral, Kenya’s Thimlich Ohinga Archaeological Site, Oman’s Ancient City of Qalhat, China’s Mount Fanjingshan and France’s Chaine des.
• The World Heritage List now contains 1,092 sites in 167 countries.
• The committee also decided to inscribe Lake Turkana National Parks in Kenya to the List of World Heritage in Danger, while removing the Belize Barrier Reef Reserve System from the list.
• The next session of the World Heritage Committee will be held in Baku, capital of Azerbaijan.
Turkey issues decree transferring some powers to President
• Turkey issued a decree on July 4, 2018 transferring some of the powers to the President.
• The decree, issued on the country’s Official Gazette, brought about changes in laws dating from 1924 to 2017 changing references to the Prime Minister and Cabinet of Ministers to the President and the President’s office.
• The decree was issued in line with the country’s move to an executive Presidential system brought about by last month’s Presidential and Parliamentary elections.
NMCG organises workshop on Collaboration for Ganga Rejuvenation
• On the occasion of the World Environment Day 2018, the National Mission for Clean Ganga (NMCG) organised a workshop on ‘Collaboration for Ganga Rejuvenation’ on July 5, 2018 in New Delhi.
• The workshop witnessed participation from several foreign dignitaries who appreciated the efforts being made under the Namami Gange programme.
• The workshop paved way for discussions over issues including the urgent need for International Cooperation for integrated water management.
• During the event, DG, NMCG Rajiv Ranjan Mishra while giving an overview of the Namami Gange programme, talked about the paradigm shift that has been brought about by the use of the Hybrid Annuity model in the waste water sector by NMCG.
EU Parliament to vote on controversial copyright law
• The European Parliament lawmakers will on July 5, 2018 vote on a highly controversial EU copyright law, which has pitted the Beatles band legend Paul McCartney against the creators of Wikipedia.
• The law is a major overhaul of the EU copyright law intended to ensure that creators of creative content- whether music, movies or news are paid fairly in a digital world.
• The vote will be held in the eastern French city of Strasbourg. It is being considered by the European Parliament members to be too close to call.
Parliament passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
Assam-NRC Draft can’t be basis of any action by any authority: SC
Government to soon introduce bill proposing death penalty for mob lynching
Ministry of Shipping issues new guidelines for improving treasury investment for Major Ports