· Karnataka to get management varsity by 2020
ð To keep tabs on decreasing admissions to management institutes and to provide an affiliating body for the institutes, Karnataka is all set to get an International Management University by 2020. The proposal for the university has been submitted to the higher education department.
ð The university will work on updating management education curriculum with industry integration, timely admission process and keep an eye on status of management education in state.
· New Zealand to phase out plastic shopping bags from July 1,2019
- New Zealandgovernment announced regulations for mandatory phase-out of single-use plastic shopping bags with effect from July 1, 2019.
- The phase-out will apply to all new plastic shopping bags with handles that are made of plastic up to 70 microns in thickness.
· Nevada becomes 1st US state with female-majority Legislature
- Twenty-threeof the 42 available State Assembly seats will now be represented by a woman.
- This came after Clark County Commissioners appointed Rochelle Thuy Nguyenand Beatrice Angela Duran to Las Vegas-area legislative seats.
- With nine of the state’s 21 Senate seats also held by women, it means that 32 of the 63 total seats in the state legislature will be held by a female representative.
- It is the first time a state has seen that level of representation in US history.
· India overtakes Germany to become seventh largest Stock Market
- India’s stock market has overtaken Germany’s to become the seventh-largest in the world with a market capitalisation of $2.08 trillion.
- This is the first timein seven years that India moved past the equity market of Europe’s largest economy, according to Bloomberg.
- At $27.07 trillion, USis world’s biggest stock market, followed by China ($5.46 trillion) and Japan ($5.41 trillion).
- GST reduced on 23 items and services; revised rates effective from 1st of January
- The GST Council has reduced tax rates on 23 goods and services, including movie tickets, TV and monitor screens and power banks. With this, only 28 goods are left in the highest 28 per cent tax bracket. Monitors and TV screens up to 32-inches and power banks will attract 18 per cent GST, as against 28 per cent earlier.
- GST on movie tickets costing up to 100 rupees was cut to 12 per cent from 18 per cent, while tickets over 100 rupees will attract 18 per cent tax, against 28 per cent earlier.
- The services supplied by the banks to Jan-Dhan account holders will be exempted from GST. Now 28 percent slab rate is applicable on cement and auto parts and luxury items like Air Conditioner and dishwasher. The new GST rates will be effective from the 1st of next month.
- The Council also approved a proposal to form a seven Member Group of Ministers to study the revenue trend, including analyzing the reasons for structural patterns affecting the revenue collection in some of the states.
· Government authorises 10 agencies to snoop on your computer
- The Intelligence Bureau, Narcotics Control Bureau, National Investigation Agency,Enforcement Directorate, Central Board of Direct Taxes, Directorate of Revenue Intelligence, Central Bureau of Investigation, Cabinet Secretariat (R&AW), Directorate of Signal Intelligence (For service areas of Jammu & Kashmir, North-East and Assam only) and Commissioner of Police have been issued the order.
- The user or the service provider in charge of any computer resource will be bound to extend all facilities and technical assistance to the agencies.
- The Home Affairs ministry gave the authorisation under 69(1) of the Information Technology Act, 2000 under which the government can direct any agency in the interest of the sovereignty, defence of India and security of the state among other reasons.
· Andhra, Himachal and Madhya Pradesh best performing states under maternity benefit programme PMMVY: MoSWCD
- Minister of State for the Women and Child Development Ministry released the performance of states and UTs under the maternity benefit programme named Pradhan Mantri Matru Vandana Yojana.
- Andhra Pradesh, Himachal Pradesh and Madhya Pradesh topped the charts as the best performing states.
- According to the finding, 51.70 lakh beneficiaries are covered annually under the PMMVY.
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