Current Affairs Daily Digest – May 04 2018

Latest Current Affairs – May 04 2018

Latest Current Affairs

1. GST Council approves system of filing single monthly return

The GST Council has decided to introduce a single monthly return for businesses in order to simplify the process and increase compliance. The new system would come into force in six months, Finance secretary Hasmukh Adhia said. The single filing return will be applicable for all except for businesses opting for composition scheme and filing nil returns.

2. India to reach 100% power target before deadline: World Bank

According to the World Bank, India is set to achieve its target of universal access to electricity before the 2030 deadline. “India is doing extremely well on electrification…About 85% of the population has access to electricity,” a World Bank official stated. This comes days after PM Narendra Modi announced that all Indian villages now have access to electricity.

3. GST Council approves making GST Network a government body

The GST Council has approved a proposal to make the GST Network (GSTN) a government body. The government will acquire the 51% stake held by private entities and subsequently the central government will own 50% in GSTN and states will collectively hold the remaining 50%. Currently, a 49% stake in GSTN is held by the government.

4. Google to set up 25,000 Wi-Fi hotspots in Andhra villages

Andhra Pradesh Chief Minister N Chandrababu Naidu said that Google and his government will facilitate all Gram Panchayats with internet access, installing 25,000 Wi-Fi hotspots by December 2018. In 2016, Google had installed public Wi-Fi networks at 100 railway stations and is now working to expand the project to as many as 400 stations by 2018 end.

5. FDI Confidence Index 2018: India ranks 11th

India’s ranking fell three places to 11th spot in global consultants AT Kearney’s Foreign Direct Investment (FDI) Confidence Index 2018. This is an annual survey which tracks the impact of likely political, economic and regulatory changes on the FDI preferences of chief executive officers and chief financial officers. Last year, India was ranked eighth. Its position was pushed out of the top 10 for the first time since 2015. Japan, the US, the UK, and Singapore consistently serve as large sources of FDI for India.

6. EPFO launches View Pension Passbook Service on Umang App

Pensioners would now be able to view their pension passbook on mobile phones with the help of Umang app. Retirement fund body EPFO announced the launch of a facility to extend the special service to pensioners. Pensioners would now be able to view their pension passbook on mobile phones with the help of Umang app. Umang app was launched by the government last year and provides access to various government services at one place. It is a common platform for services such as gas booking, Aadhaar, crop insurance, EPF and National Pension System.

7. India, US hold round 3 of Maritime Security Dialogue in Goa

India and United States held the third round of the India-US Maritime Security Dialogue in Goa focussing on cooperation and developments in the Indo-Pacific region. Both the sides discussed the developments in maritime domain in Indo-Pacific Region and exchanged views on ways to further strengthen bilateral maritime security cooperation. They also reviewed implementation of decisions taken during the previous Maritime Security Dialogues.

8. North and South Korea to send joint TT team at world championship

North and South Korea requested to field a unified team for the semi-finals of the championships, which will be played against Japan or Ukraine in Halmstad, Sweden. The last time that a unified Korea team played the world table tennis championships was 1991 in Chiba, Japan where women’s team shocked defending champions China to win the gold medal. The decision to form a unified team was a tripartite agreement between the leaders North and South Korean Table Tennis teams and the ITTF.

9. Badminton: Saina Nehwal storms into top 10 in world rankings

After their bronze medal finishes at the Asia Championships in Wuhan, China, both HS Prannoy and Saina Nehwal climbed into the top-10 of the badminton rankings. Both Prannoy and Nehwal moved two places to reach World No 8 and World No 10 respectively. In the latest rankings, India have two representatives in both the men’s and women’s rankings inside the top-10. Kidambi Srikanth moved up two places to third in the rankings having held the top spot in Week 15 (April 12) of the rankings. PV Sindhu remains unchanged at World No 3 with 78,824 points.

10. PM Modi to embark on 2-day Nepal visit on May 11

Prime Minister Narendra Modi will pay a two day State visit to Nepal from May 11 at the invitation of his Nepalese counterpart K.P. Sharma Oli. Both the Prime Ministers will jointly lay foundation stone of Arun-3 Hydro power project. PM Modi will also call on President Bidya Devi Bhandari and Vice President Nanda Bahadur Pun. During his stay in Nepal Prime Minister Modi will also visit Janakpur and Muktinath.

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