DAILY CURRENT AFFAIRS 08-10-2021
Shankar School of Banking October 8 , 2021 28
Centre releases GST dues to states and UT’s
- The Ministry of Finance today released an amount of Rs 40,000 crore to the States and UTs with Legislature under the back-to-back loan facility to meet the shortfall in GST Compensation.
- The total amount released in the current financial year as back to back loan in-lieu of GST compensation has reached to Rs1,15,000 crore.
- This amount of Rs 1.59 lakh crore to be provided to States as back to back loan would be over and above the compensation in excess of Rs 1 lakh crore (based on cess collection) that is estimated to be released to States/UTs with Legislature during the current financial year.
- All eligible States and UTs (with Legislature) have agreed to the arrangements of funding of the compensation shortfall under the back-to-back loan facility.
- The release of assistance under the back-to-back loan facility during FY 2021-22 of Rs 1,15,000 crore, which is more than 72 percent of the total estimated shortfall for the entire year.
- The balance amount will be released in due course.
- So far Karnataka has recived the maximum shortfall of GST compensation among other states, which sums up to Rs 4,555 crore.
Heaviest propellent tank delivered to ISRO
- The heaviest semi cryogenic propellent tank named SC120-LOX manufactured by Hindustan Aeronatics Limited(HAL) has been delivered to the Indian Space Research organisation ISRO.
- This was developed to replace the existing L110 stage used in MK-III launch vehicle.
- The semi cryogenic- Liquid Oxygen Tank(LOX) is a part of SC120 aimed to enhance the payload capablities.
- HAL have totaaly delivered 224 propellant tank and 95 water tanks to ISRO for the space programms of PSLV, GSLV MK-II, GSLV MK-II of diameter 2.1, 2.8 and 4 meters, and its length varies from 2.5 meters to 8 meters.
Additional Fact: HAL has delivered the biggest cryogenic liquid hydrogen tank named C32-LH2 of 4 meter diameter and 8 meter length last year.
Sixth Edition of ‘Exercise AJEYA WARRIOR’ has commenced
- India-UK Joint company level military training has been commenced at Chaubatia In Uttarkhand to be held from Oct 07 to Oct 20.
- The exercise is part of an initiative to develop inter-operability and sharing expertise with friendly foreign nations.
- Indian Army and an equivalent strength from UK Army would be sharing their experiences gained during the conduct of various military operations in their respective countries and during overseas engagements.
- The joint military training would culminate with a grueling 48 hours exercise to validate the performance of both the Armies in conducting joint military operations in a semi-urban environment.
- This joint military training will go a long way in improving bilateral relations and also will be a major step towards further strengthening the traditional bond of friendship between the two Nations.
46th U.S India Buisness Council meeting (USIBC) held
- Commerce, Industry and textile minister addressed the 46th meeting of U.S India Buisness Council meeting (USIBC) and the India Ideas summit.
- The discussion was focussed to strengthen the strategic partnership between India and U.S.
The summit will include
- Powering the global economic recovery in the post-COVID world.
- Discussions with key Ministers on healthcare innovation in Indian states.
- Fireside chats with industry officials on startups and emerging technology to tackle COVID and the “new” normal.
- Breakout sessions with government officials, moderated by industry leaders on healthcare collaboration during the pandemic.
- Governments’ collaboration and the business community’s support to mobilize new programs and resources in both countries.
SSB and Armed police force of Nepal to conduct joint patrols
- Sashastra Seema Bal(SSB) of India and Armed Police Force Of Nepal have concluded to conduct joint patrols to control trans border crimes.
- This was decided after the 5th annual coordination meeting between India and Nepal.
- The Director general of SSB led by Kumar Rajesh Chandra and Inspector general of Armed Police force Shailendra Kanal participated in the meeting.
India retains its GDP growth forecast: World Bank
- The World Bank has retained June forecast for India’s Gdp to grow by 8.3% in the fiscal year2021-2022.
- The economy saw an increase in public investment to support domestic demand and schemes like production linked incentives to boost manufacturing.
- Over the next two years, as the base effect fades and growth is expected to stabilise at around 7%.
Nobel for the Novelist
- Tanzanian novelist Abdulrazak Gurnah won Noble Prize in Literature.
- He is the third african writer to win the award after Doris Lessing and Wole Soyinka.
- His has written 10 novels which focussed on east african colonialism.
- His Novel ‘Paradise’ was shortlisted for the Booker prize for Fiction.
Anshu Malik bags silver
- Anshu Malik of India won silver medal in Woman world championship.
- She created history by becoming the first Indian Women to reach a World championship final.
- Sarita Mor of India bags bronze.
8TH October- Indian Air Force day