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Daily GK Update 7th February 2015

Published on Saturday, February 07, 2015
Current affairs update for today :-

Essel Group to set up 5000 MW of Solar Park Projects in Rajasthan

  • Chairman, Essel Group - Dr. Subhash Chandra 
  • Essel Group has signed a Memorandum of understanding (MOU) with the Government of Rajasthan to develop Solar Park at Bikaner and Jaisalmer. 
  • The total investment for this project is Rs. 4,000 crore. 
  • The group is also interested in developing major infrastructural projects like Roads and Waste to Energy. 
  • This Solar Park will aid clean energy initiative of the state without disturbing its unique heritage and monumental values.

Obama appoints top Indian-American CEO as trade policy advisor

  • US President Barack Obama has appointed Ajay Banga, , to a key post was appointed member of the Advisory Committee for Trade Policy and Negotiations 
  • He will advise the US administration over policies related to international trade matters. 
  • He is a member of the Board of Directors of MasterCard and The Dow Chemical Company.

Haryana selects Wipro for e-services support

  • Haryana government has tied up with Wipro for computerisation of all tax processes. 
  • Wipro will provide various e-services covering registration, refund, payment and others. 
  • Stating this, an official spokesman of Excise and Taxation Department said this would lead to hassle free communication between dealer and department and reduce incidences of tax avoidence. 
  • Services included e-registration, e-payments and e-filing of returns. 
  • The Department is also committed to introduce GST in the state from April 1, 2016. 
  • under ‘Apna Tax’ scheme, quarterly awards would be given to those customers who share their bills with the department.

Modi talks economic revival with experts at NITI Ayog

  • Chairman of NITI Ayog – Narender Modi 
  • Vice Chairman of NITI Aayog - Arvind Panagariya 
  • Members and CEO, NITI Aayog - Bibek Debroy and Dr. V.K. Saraswat 
  • Modi attended a meeting on Friday with eminent economists and others in his first visit to the newly created NITI Aayog 
  • The main objective of the NITI (National Institution for Transforming India) Aayog was to establish a dynamic institutional mechanism where "eminent individuals outside the government system" could contribute to policy. 
  • The four major areas of concern was - the general economic scenario, methods to bring back fiscal prudence, steps to boost revenue and to rationalise spending, the need for a stable tax regime

State Bank of India to partner with RIL to apply for payments bank licence

  • Reliance Industries and State Bank of India applied as partner for a payments bank licence.

Electricity Act amendments to come into effect by April: Piyush Goyal

  • This Act includes to improve power supply and consumers can choose their supplier for electricity 
  • It will come into effect by April., Power Minister Piyush Goyal said

BHEL Commissions 270 MW thermal unit in Maharashtra

  • The public sector Bharat Heavy Electricals Limited (BHEL) today had successfully commissioned a 270 MW coal-based thermal power plant in Maharashtra. 
  • The unit was commissioned at RattanIndia Power Limited’s (formerly Indiabulls Power Limited) thermal power project located at village Nandgaonpeth in Amravati district of Maharashtra 
  • This is the third 270 MW unit commissioned by BHEL in Phase-1 of the project.

Maharashtra govt plans to raise FSI in Greater Mumbai

  • The Bharatiya Janata Party (BJP)-led government in Maharashtra announced a slew of steps to transform the Mumbai Metropolitan Region (MMR) into a global financial, commercial and entertainment hub. 
  • These included increasing the floor space index (FSI, the ratio between the total built-up area and the plot area), creating an information technology-based platform for project clearances, implementation of a Rs 8,500-crore coastal road project in two years and completing the first phase of the Navi Mumbai international airport by 2019.

RBI clarifies on foreign investments in India

  • The Reserve Bank of India (RBI) clarified that foreign portfolio investors (FPIs) shall not be allowed to make any further investments in debt instruments having minimum initial and residual maturity of three years with an optionality clause exercisable within three years. 
  • RBI had received inquiries about the recent announcement that future investments by FPIs in the debt market would be required to be made with a minimum residual maturity of three years. 
  • The regulator also clarified that FPIs shall be permitted to invest in amortised debt instruments, provided the duration of the instrument is three years and above.

Aggarwal takes over as Director (Pipelines)

  • Anish Aggarwal today took over as Director (Pipelines) at Indian Oil Corp ( IOC), the nation's largest oil refining and marketing company.
  • Aggarwal was previously Executive Director (Operations) at the firm's Pipelines Division, leading a team to oversee operations and maintenance of IOC's 11,221 kms long network of cross country pipelines transporting crude oil and petroleum products. 

Ram Tirath Agarwal, Director (Finance) , POWERGRID conferred “CA-CFO Power Sector Award”

  • Ram Tirath Agarwal, Director (Finance), Power Grid Corporation of India Limited (POWERGRID) has been felicitated with “CA-CFO – Power Sector Award” by the Institute of Chartered Accountants of India in recognition of his exceptional performance and achievements as CA – CFO in the Power Sector Category for the year 2014. 
  • The award was presented by President of the Institute at the ‘ICAI AWARD 2014’ function held in Mumbai recently

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