Karnataka braces for likely cut in share of central taxes
There are strong indications that the 15th Finance Commission will reduce states’ share of tax devolution, a prospect that would adversely hit Karnataka, which is already reeling from a shortfall in central grants due to the state.
While the exact percentage decrease is unknown, sources say devolution is expected to decrease by 6% — from 42% to 36%. This will have serious consequences on growth in the state as it will lose about Rs 30,000 crore over the next five years.
It may be recalled that the 14th Finance Commission had increased tax devolution to states from the central divisible pool from 32% to 42% for the five-year period 2015-2020. As a result, Karnataka, which had a 4.7% share in the divisible pool of Rs 39.5 lakh crore — the total tax collected by the Centre — receivable Rs 1.9 lakh crore.
Social Mobility Index: India ranks low at 76th place; Denmark tops
India has been ranked very low at 76th place out of 82 countries on a new Social Mobility Index compiled by the World Economic Forum.
Denmark has topped the charts.
The report, released ahead of the 50th Annual Meeting of the WEF, also lists India among the five countries that stand to gain the most from a better social mobility score.
The top five are all Scandinavian, while the five economies with the most to gain from boosting social mobility are China, the United States, India, Japan and Germany.
France to train Indian flight surgeons for Gaganyaan mission
France will train Indian flight surgeons to enable them to monitor the health of astronauts selected for the ambitious human space mission Gaganyaan.
The two-week training is a critical aspect of the Gaganyaan project that is aimed at sending three Indians to space by 2022.
The flight surgeons, who will be Indian Air Force doctors specialising in aviation medicines and responsible for the health of astronauts before, during and after flight, will be shortlisted soon.
The four shortlisted astronauts, all test pilots from the Indian Air Force, are currently in Russia for an 11-month training programme.
India successfully test-fires K-4 ballistic missile
India has successfully test-fired a 3,500 kilometre range nuclear capable missile that can be launched from a submarine.
The test of the K-4 ballistic missile was conducted off the Vizag coast in Andhra Pradesh on.
With this test, India has moved one more step towards the induction of this ballistic missile on the INS Arihant class of nuclear submarines.
The missile was developed by Defence Research and Development Organisation (DRDO).
Only the US, Russia and China have submarine-launched ballistic missiles of 3,500-kilometre range.
Commerce Ministry sets up National Startup Advisory Council to foster start-ups in India
The government has announced that it is to set up a National Startup Advisory Council. The council will advise the Centre on measures needed to build a strong ecosystem for nurturing innovation and start-ups in India. It was set up by commerce and industry ministry.
The Council will suggest measures to foster a culture of innovation among students and others, the commerce and industry ministry.
It will suggest measures to facilitate public organizations to protect and commercialization of intellectual property rights, to promote the creation, assimilate innovation, make it easier to start, operate, grow and exit businesses by reducing regulatory compliances and costs.
The Council will also direct the companies to promote ease of access to capital for start-ups, mobilize global capital for investments, incentivize domestic capital for investments, and keep control of start-ups with original promoters.
ISRO’s Gaganyaan to carry lady robot ‘Vyomamitra’ to space
Before the Indian Space Research Organisation (ISRO) sends a man into space next year in its first manned-mission Gaganyaan, it will send two unmanned missions to space in December this year and June next year.
The first unmanned mission will, however, have a half humanoid called ‘Vyomamitra’, a ‘lady’ robot.
The robot was the highlight at the ‘Human Spaceflight and Exploration – Present Challenges and Future Trends’ symposium.
The robot Vyomamitra can monitor through module parameters, perform life support operations and switch panel operations
MoD approves procurement of military equipment worth over Rs.5,100 crore
Ministry of Defence approved the procurement of military equipment worth over Rs.5,100 crore from indigenous sources. It also approved the construction of six conventional submarines for the Navy in India under the strategic partnership model.
The procurement includes sophisticated Electronic Warfare Systems for the Army designed by Defence Research and Development Organisation (DRDO).
The equipment will be manufactured locally by the Indian industry.
Also, DAC shortlisted Indian strategic partners (SP) and the potential Original Equipment Manufacturers (OEMs) that would collaborate to construct 6 conventional submarines in India under the strategic partnership model.
Under the SP model, selected private firms will partner to build military platforms like submarines and fighter jets in India in partnership with OEMs.
KPSC Notes brings Prelims and Mains programs for KPSC Prelims and KPSC Mains Exam preparation. Various Programs initiated by KPSC Notes are as follows:-
- KPSC Mains Tests and Notes Program
- KPSC Prelims Exam 2020- Test Series and Notes Program
- KPSC Prelims and Mains Tests Series and Notes Program
- KPSC Detailed Complete Prelims Notes