UPSC prelims daily current affairs 2018 | Dated : 01 and 02/04/2018


THE HINDU : After glitch, ISRO trying to restore link with GSAT-6A

NEWS : GSAT-6A - newest communication satellite of india – does not work on its 2nd day of launch. COST OF SATELLITE : ₹270 crore BUILT BY : ISRO. SPECIALITY : 6-metre-wide umbrella-like antenna = five beams in S-band and one beam in C-band. USE : - It is designated for the use of the Armed Forces and will not add any transponder capacity for general uses. - Even from remote location ,it will enable mobile communication from anywhere via hand-held ground terminals.

THE HINDU : Russia helicopter deal may take off

NEWS : Defence Minister Nirmala Sitharaman visit to Moscow from April 3 to 5 to participate in the VII Moscow Conference on International Security. AGENDA FOR INDIAN DELEGATION : India is likely to purchase • 80 MI-17V-5 helicopters, estimated at $1 billion. • S-400 air defence missile system - 6 billion • Kamov-226T helicopters

THE HINDU : Central Vigilance Commission wants to keep an eye on private banks

EARLIER : Disclosure of a ₹12,800 crore fraud at the country’s second largest public sector bank, Punjab National Bank (PNB) perpetrated by firms owned by Nirav Modi and Mehul Choksi. NOW : CVC has jurisdiction over irregularities and possible wrongdoing in all State-owned public sector banks. However private banks are not within its purview. NEWS : Given the systemic risk such fraud poses for the economy, it is important that the CVC has a comprehensive view over corrupt practices in private banks.

ABOUT CVC : CREATION : In 1964 on recommendations of the Committee on Prevention of Corruption, headed by Shri K. Santhanam FOR WHAT> Apex body to address governmental corruption. COMPOSITION : The Commission shall consist of: • A Central Vigilance Commissioner - Chairperson; • Not more than two Vigilance Commissioners - Members; REMOVAL : Commissioners can be removed from his office only by order of the President on the ground of proved misbehaviour or incapacity with approval of Supreme Court.

Modi govt’s Crop MSP plan may stoke inflation: NITI Aayog

AIM : NITI Aayog estimated that farmer incomes will rise by an impressive 24%, helping the centre’s goal of doubling farm incomes by 2022.

WHAT GOVERNMENT HAS DONE ? The twin budget promises of fixing minimum support price (MSP) of crops at cost plus 50% and ensuring MSP to farmers for all crops will lift farm-gate prices by 15% and raise rural incomes. GOOD BUT WHAT WILL BE THE IMPACT ? Transmission of this increase to wholesale and retail levels will have very strong implications for inflation and consumers WHO SAID THE ABOVE ? The NITI Aayog document titled Ensuring MSP benefits for farmers said

E-WAY BILL - UNDER GST : EXPLAINED

WHAT IS THIS E-WAY BILL ? E- way Bill = electronic way bill for movement of goods which can be generated on the eWay Bill Portal.

WHAT IS THE RULE ? Transport of goods of more than Rs. 50,000 (Single Invoice/bill/delivery challan) in value in a vehicle cannot be made by a registered person without an eway bill.

WHEN THIS BILL APPLIES ? The E-Way Bill, at present, applies to inter-state transportation of goods worth over Rs 50,000 through road, railways, airways and vessels.

WHAT ABOUT INTRA- STATE SYSTEM ? For intra-state movement of goods, the new system would be launched in two weeks’ time. But it is operative in Karnataka alone.

MODES OF GENERATION : E-way bill can be generated or cancelled through SMS, Android App and by Site-to-Site Integration(through API).

HOW IT WORKS TECHNICALLY ? When an eway bill is generated a unique eway bill number (EBN) is allocated and is available to the supplier, recipient, and the transporter.

WHAT IS THE SCOPE OF IT E- WAY BILL ? The Finance Ministry clarified on Saturday that a single E-Way Bill will apply even in cases of a break in journey to destination and where more than one transporter is involved in the transportation of goods.

WHEN ITS VALIDITY STARTS ? The validity period of e-way bill starts only after the e-way bill details are updated by the transporter for the first time.

NEED FOR BILL : According to British consulting multinational Deloitte, introduction of the E-Way Bill would help the government in plugging possible evasion and increase revenues which have been under pressure.

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