Current Affairs: July 7, 8 1. SIT on Black Money: proposed amendments in Foreign Exchange Management Act of 1999. On the lines of punitive provisions in the Prevention of Money Laundering Act (PMLA), the proposition is aimed at introducing a clause empowering the investigating agency to attach properties. 2. India-Middle East: Sushma Swaraj meets leaders of Arab worlds along with the oil exporting group of six Gulf nations. Exercising soft power and positive diplomacy by consulting three arab nations of Jorden, Turkey and Yemen in tackling the Iraq crisis. 3. The former Chairman of Federation of Indian Export Organisation, FIEO R.K. Dhawan says that the government should provide maximum bank loans to the development of small scale industries. (S/B-R.K. Dhawan- Ex-Chairman FIEO) However, Economist Anjan Roy says that availability of adequate credit and improving quality standards are the current demands of Small and Medium enterprises. (S/B-Anjan Roy-Economist) Whereas, Financial Market Expert Dr. Kumar Bijoy is of a view that procedural clearance,tax exemption and infrastructure support are the top concerns of Small and Medium enterprises. (S/B-Dr. Kumar Bijoy- Financial Marketing Expert) The industry has showed economic uncertainty but now time has come for gearing up efforts to uplift the small scale enterprises. 4. The report submitted by the Law Commission’s chairman Justice Ajit Prakash Shah, recommended to the government increasing the retirement age, building infrastructure, arranging morning and evening courts for traffic challans and evolving a uniform data management system. 5. Bilateral trade between India and Kuwait has crossed the 18 billion dollars mark in the year 2013-14 and efforts are on to enhance it through collaboration and partnership. Kuwait is one of the leading supplier of crude oil and LPG to India and both countries have longstanding ties in the area of energy security. India’s Ambassador to Kuwait, Sunil Jain told AIR from Kuwait City that growth of trade and commerce is a reflection of the strengthening of India-Kuwait ties. 6.Former World Bank economist Ashraf Ghani, has won Afghanistans presidential election, according to preliminary results released yesterday, with 56.4 per cent of the run-off vote to Abdullah Abdullahs 43.5 per cent. 7. Japan is bracing up for one of its worst storms in over a decade as typhoon Neoguri barreled towards the southern Okinawa island chain. 8. Granville Austin, a renowned US scholar of the Indian constitution and constitutional assembly debates passed away, on Sunday in Washington, D.C. The 87 year old independent historian was conferred the Padma Shri, in recognition for his writing on the framing and working of the Indian Constitution in 2011.
Posted on: Tue, 08 Jul 2014 10:46:20 +0000
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