Morning Current Affairs: 4 October 2017

Oct 4, 2017 08:51 IST
Morning Current Affairs: 4 October 2017

Government reduces central excise duty on Petrol and Diesel by Rs 2 per Litre

The Union government has decided to reduce the central excise duty on Petrol and Diesel by Rs 2 per Litre effective from 4 October 2017.

With this reduction, the decrease in prices of Petrol and Diesel will be Rs 2.50 per litre and Rs 2.25 per litre respectively in Delhi. This measure is not only aimed at reducing the prices of the fuels but also in giving relief to the consumers.

Since the past few weeks, prices of both the fuels were rising due to increase in their prices in the international market.

US supports India's opposition to CPEC, says it passes through disputed territory

The Trump administration on 4 October 2017 announced its support to India’s opposition to the China- Pakistan Economic Corridor (CPEC).

Speaking during a Senate hearing on South Asia, US Defence Secretary Jim Mattis said that in a globalised world, there are many belts and many roads and no one nation should put itself into a position of dictating 'one belt, one road. Further referring to India's position on CPEC, Mattis said that the corridor also goes through disputed territory.

Jim Mattis recently paid his maiden visit to India where he met his Defense counterpart Nirmala Sitharaman and India’s Prime Minister Narendra Modi.

India to top global remittances chart with $65 billion in 2017

India is expected to retain its position as the top remittances receiving country, with its Diaspora set to bring in money worth almost 65 billion US Dollars in the year 2017.

Ahead of the annual meeting of the International Monetary Fund and the World Bank, a report issued by the global lender said that remittances, which include flows to high-income countries, are projected to grow by 3.9 per cent to 596 billion dollar.

Remittances to India, the world’s largest remittance recipient, is expected to grow by 4.2 per cent in 2017 to 65 billion dollar following a decline of 9 per cent in 2016. India, in 2016, received remittances amounting to 62.7 billion dollar.

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