Daily Current Affairs 22nd March 2016

DAILY CURRENT AFFAIRS: 22 MARCH 2016

(Daily News India)

Shared By: WWW.DailyGk.IN

1. INDIA ASSUMES BRICS CHAIRMANSHIP FROM RUSSIA FOR 2016

i. India has assumed BRICS Chairmanship from the Russian for the year 2016.

ii. BRICS is an association of five countries viz. Brazil, Russia, India, China and South Africa.

iii. India has assumed BRICS Chairmanship for second time.

IV.Earlier India hosted the BRICS Summit in 2012 for first time in New Dehli.

iv.India will host the 8^th  BRICS Summit  15^th  to 16^th  October 2016 in Goa.

2. MARCH 22 OBSERVED AS WORLD WATER DAY

i. Every year World Water Day is observed globally on 22^nd March.

ii.The day is observed to preserve and ration consumption of water.

iii.The theme of the day is “Better Water, Better Jobs”.

3. ASHOK LAHIRI COMMITTEE FORMED TO REVIEW EXCISE DUTY IMPOSED ON DIFFERENT JEWELLERY ARTICLES IN BUDGET 2016-17

i. The Union Ministry of Finance constituted Committee to review issues related to excise duty.

ii.The committee will be headed by former Chief Economic Advisor Dr Ashok Lahiri .

iii.It will review excise duty imposed on different jewellery articles in Budget 2016-17.

iv.In the Union Budget 2016-17, Finance Minister Arun Jaitley proposed the Central Excise duty at the rate of 1 percent  and 12.5 percent  on jewellery items.

v.It has  been strongly opposed by the All India Gems and Jewellery Trade Federation that it will hurt jewellery sector that employs millions of people.

4. INDIAN COAST GUARD SHIP ARNVESH COMMISSIONED AT VISAKHAPATNAM

i. The fast patrol vessel of the Indian Coast Guard Arnvesh was commissioned at Visakhapatnam Andhra Pradesh.

ii. The ship will undertake coastal patrol, surveillance at sea, anti-piracy operations, anti-smuggling and search and rescue operations.

5. HINDUJA BROTHERS TOPPED BRITAIN’S ASIAN RICH LIST 2016

i. The Hinduja Brothers G P Hinduja and S P Hinduja topped the Asian Rich List 2016.

ii.The Hinduja Brothers topped  in the list for the fourth consecutive year with an estimated  fortune of 16.5 billion pounds.

iii.Steel tycoon Lakshmi Niwas Mittal was ranked second in the list.

6. AKHILESH RANJAN COMMITTEE ON TAXATION OF E-COMMERCE SUBMITTED ITS REPORT TO UNION GOVERNMENT

i. A Committee on Taxation of e-commerce constituted by the Central Board of Direct Taxes to examine the business models for e-commerce submitted its report to the central government.

ii.The Report provides the views about the issues related to taxation of e-commerce.

7. WRESTLER HARDEEP SINGH WON SILVER MEDAL IN ASIAN OLYMPIC QUALIFICATION TOURNAMENT

i. Indian wrestler Hardeep Singh won silver medal in the Asian Olympic Qualification Tournament held in Astana, Kazakhstan.

ii.Now he qualified for participation in the Rio Olympics 2016 .

iii.Earlier Yogeshwra Dutt and Narsingh Yadav qualified for the Olympics in men's freestyle category.

8. GOVT ALLOWS 49% FDI IN INSURANCE UNDER AUTOMATIC ROUTE

i. The government of India has relaxed FDI norms for the insurance sector by permitting overseas companies to buy 49 percent stake in domestic insurers under automatic rule.

ii.It is an  effort to bring more foreign companies into India’s  insurance market.

iii. Earlier foreign companies are allowed to buy up to 26% stake in an India and above 26% the investor had to take approval from the Foreign Investment Promotion Board.