Current Affairs for SSC CGL Exams - 10 AUGUST 2019
Current Affairs for SSC CGL Exams - 10 AUGUST 2019
Supreme court upholds law empowering home buyers
The Supreme Court on Friday upheld a central law which empowered
harassed home buyers to initiate bankruptcy proceedings against errant real
The Act had brought the home buyers on par with the creditor banks
of the property builder. Prior to the law, the home buyers were often left
in the lurch. With their dreams of owning a home shattered, they were made
to wait blindly for a solution to come up, either in the form of a completed
apartment or a refund.
Before the Amendment Act of 2018 came into existence, the assets
of the bankrupt builder were divided among his employees, creditor banks and
other operational creditors. Home buyers had hardly figured, though their
hard-earned savings may have provided a major chunk of the housing project.
The Amendment Act allowed home buyers, as financial creditors, to
trigger bankruptcy proceedings under the Insolvency and Bankruptcy Code of
2016 and have their “rightful place” on the Committee of Creditors (CoC).
The CoC, by voting, makes important decisions on the future of the bankrupt
builder. These calls include what to do with his assets and who should
finish the pending housing projects.
Centre to ensure complete availability of Rotavirus vaccine by September
“The Health Ministry has drawn an ambitious plan under the 100
days agenda of the newly elected government, wherein it has been decided to
provide Rotavirus vaccine to every child across all States and Union
Territories by September, 2019,” Union Health Minister Harsh Vardhan said on
He said diarrhoea was one of the biggest killers in children and
Rotavirus was one of the most common causes of severe diarrhoea in children
less than 2 years of age.
“Rotavirus vaccine along with proper sanitation, hand washing
practices, ORS and zinc supplementation will go a long way in reducing the
mortality and morbidity due to diarrhoea in children,” the Minister said.
The government was also committed to increasing the full immunisation
coverage and ensuring that the benefit of the life-saving vaccines was
provided to every child.
In India, every year, 37 out of every 1,000 children born are
unable to celebrate their 5th birthday, and one of the major reasons for
this is diarrhoeal deaths. Out of all the causes of diarrhoea, Rotavirus is
a leading cause of diarrhoea in children less than 5 years of age.
Capital market participants concerned over tax issues
The government could risk missing its record Rs. 1.05 lakh crore
divestment target that has been set for the current financial year as
foreign portfolio investors (FPIs) could stay away from such share sales if
the ongoing tax concerns are not resolved soon, according to capital market
The participants, who met Finance Minister NirmalaSitharaman on
Friday, also urged her to address the liquidity concerns of non-banking
finance companies (NBFCs) — especially those focussed on consumer spending —
before the festive season begins, to spur overall consumption growth in the
According to persons familiar with the deliberations, the
government has taken the suggestions ‘positively’ and has hinted that it
would take all possible steps to revive overseas investor interest in the
Indian capital markets.
In the Union Budget 2019-20, the Finance Minister introduced a
surcharge for individuals earning more than Rs. 2 crore. However, FPIs
became the collateral damage of the proposal as bulk of such investors
structure themselves as trusts or a Limited Liability Partnership (LLP) that
are not recognised as a corporate entity by the Income Tax Act and hence are
taxed as per the individual tax slabs based on their earnings.
India- Bangladesh to set up committee for optimum water usage
India and Bangladesh have agreed to set up a Joint Technical
committee for optimum utilisation of Ganges water as being received by
Bangladesh under the Ganga Water Sharing Treaty 1996.
After the Secretary-level meeting in Dhaka yesterday, both the
countries also agreed to prepare a framework for interim water-sharing
agreement for eight rivers including Feni, Gumti and Teesta. Both the
countries also discussed issues related to pollution of trans boundary
The Secretary-level meeting was held after a gap of more than 8
years. It is an important step in enhancing bilateral cooperation in the
water resources sector between India and Bangladesh.
IMF warns U.S-China tariff war could affect China sharply
International Monetary Fund, IMF, has warned that increasing
United States tariffs could cut China's growth sharply. China's economy is
slowing already due to the trade conflict with the United States.
The IMF trimmed its growth forecast for China to 6.2 percent this
year, assuming no new tariffs are imposed. But in the past week US President
Donald Trump announced a new round of punitive tariffs on Chinese goods,
despite a truce agreed with Chinese President Xi Jinping in May, and Beijing
responded by halting all purchases of US agricultural goods.
Trump has accused Beijing of trying to keep its currency weaker to
gain a trade advantage against the United States.
::SCIENCE & TECHNOLOGY::
Maharashtra sets up task force to study climate change post floods
In the wake of an unprecedented flood-like situation and record
rainfall this season, the State government will constitute a task force
comprising local and global experts to study impact of climate change on
The task force will study measures taken against flooding and
unplanned reclamation in cities such as Venice, Geneva and London, and
coordinate with the European Climate Change Programme of the European Union
to prepare a blueprint. The task force will be set up by the environment
department in coordination with Mumbai First, a not-for-profit,
policy-influencing think tank, officials said.
NarinderNayar, chairman, Mumbai First, said the proposal for the
task force has been sent to the government while only the last-minute
modalities are remaining.
BCCI to come under the ambit of NADA
The Board of Control for Cricket in India (BCCI) today agreed to
come under the ambit of the National Anti-Doping Agency (NADA). This
landmark decision makes Indian Cricket's governing body a sports federation
as per government norms despite being financially autonomous.
The implication of this development is expected to be massive as
BCCI now becomes a designated National Sports Federation and will face more
pressure to come under the government's Right to Information Act.