International Economic Association gets a new president
- Kaushik Basu has taken over as president of the International Economic Association (IEA).
- The IEA is a leading organization for professional economists which seeks to shape the global economic policy and research.
Vice Presidential elections to take place on August 5
- The Election Commission declared that the elections for the post of vice-president will be held on August 5.
Government issues notification for roll out of GST
- The government has notified the roll out of Goods and Services Tax (GST) from July 1st.
- The idea of One tax, one nation idea is to eliminate the multiple tax buckets.
Union government launches new bidding mechanism for mega oil and gas auctions
- The Union govt. government has launched 2 important bidding mechanisms – Open Acreage Licensing Process (OALP) and the National Data Repository (NDR) for the first major oil field auctions.
- This new bidding mechanism will help the interested firms to bid for blocks of their choice at any time of the year with the help of National Data Repository.
3rd ISRO satellite successfully launched in a month
- The Indian Space Research organization’s (ISRO) GSAT-17 satellite was successfully launched, making it the 3rd satellite launch in a month.
- Apart from this the other two major launches in this month were the GSLV Mk III and PSLV C-38 missions.
Last date extended for 6 months for the conversion of PIO cards
- The Union government has extended for 6 months the last date for applying for conversion of PIO (Person of Indian Origin) cards to Overseas citizens of India (OCI) cards to December 31st.
India’s policy panel proposes break up of coal India into 7 firms
- India would split the 7 units of state-controlled Coal India Ltd (CIL) into independent companies to make it more cooperative.
- Coal India limited (CIL) is the largest coal producer company in the world which contributes around 82% of the coal production in India.
FSSAI issues Draft Regulations for organic food products
- The Food Safety and Standards Authority of India (FSSAI) has come out with draft regulations for organic food products to ensure the authenticity of organic foods.Read more at: http://currentaffairs.gktoday.in/category/india-national-current-affairs
Foreign Nationals to pay upto 50% more for Indian Visas
- The government has increased the visa fee for foreign nationals visiting India by upto 50%.
RBI starts printing 200 notes
- The Reserve Bank of India (RBI) has started printing currency notes of ₹200 denomination, the third denomination notes to be printed after demonetisation.
U.P govt. signs agreement with Asian Development Bank
- The Uttar Pradesh government has signed an agreement with the Asian Development Bank (ADB) for a loan of Rs 1950 crore for strengthening of roads in different district.
- This project will commence from this year and is planned to be completed by 2024.
India rank in SPI
- India has been ranked 93rd out of 128 countries in the 2017 social progress Index (SPI).
- SPI is basically an aggregate index of both social and environmental indicators that capture 3 dimensions of social progress.