Daily GK Digest – January 11th, 2017 for top current affairs of today.
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Daily GK Digest
Here is the daily GK Digest for January 11th, 2017.
Daily GK Digest : Top Five Current Affairs for Today
SC dismisses plea to lift tax exemption for political parties
- The Supreme Court today said recognised political parties need money to propagate their respective “political regime”, and dismissed a petition seeking to lift “100 per cent tax exemption” granted to them.
- A Bench led by Chief Justice of India J.S. Khehar did not find any merit with the petition filed by advocate M.L. Sharma challenging certain provisions in the Income Tax Act and the Representation of the People Act.
- Mr. Sharma had challenged the constitutionality of Section 13A of the Income Tax Act of 1961 and Section 29 of the Representation of the People Act, 1951. The petition asked the court to decide on why ordinary persons are taxed, while political parties enjoy exemption from tax.
- The petition also sought the apex court’s intervention to respond to several questions of law like if the Constitution recognises the need to have a political party membership for becoming an MP, MLA and MLC.
Obama’s last speech: warns of threats to democracy
- In his final speech as President of United States, President Obama asked Americans to unite and protect the country’s democracy.
- In Chicago, Obama said that America’s democracy was being threatened by racism, inequality and a corrosive political environment.
- Obama’s presidency will come to an end on January 20 when Republican Donald Trump will be sworn in as the 45th President of the US.
- Obama promised a peaceful transfer of power to Trump in the coming days.
Govt replies to EC on budget session issue
- Government has replied to the Election Commission on the opposition complaint against presenting the Union Budget before Assembly elections, defending its decision to advance the budget session for the purpose.
- On Tuesday, the Cabinet Secretariat today wrote to the Election Commission which had asked it to respond to a representation by opposition parties urging the poll panel to make the government postpone the budget till assembly polls are over.
- The government is learnt to have described the Union Budget as an annual constitutional exercise covering the entire country and not just a few states, an apparent rebuttal of the opposition charge that the budget will be used to woo voters in the poll-bound states.
- It has also said that the advancing of budget presentation was necessary as it would ensure that all budgetary provisions are allocated to different sectors from April 1, the beginning of the new fiscal.
Sreejesh becomes member of FIH Athletes’ Committee
- The Indian men’s hockey team captain PR Sreejesh on Wednesday became a member of International Hockey Federation (FIH) Athletes’ Committee.
- FIH Athletes’ Committee comprises a total of eight current and former hockey players who have the responsibility to act as a liaison between the FIH and the athletes to make sure the players have voice in the FIH decision making process.
- Sreejesh, who led the Indian team to a historic silver medal feat at the FIH Champions Trophy in London last year, said he was looking forward to the responsibility bestowed upon him by the FIH.
- While Sreejesh’s role will be to seek and provide feedback to the FIH on behalf of all athletes.
Fertiliser Minister seeks Rs 20,000 cr special banking facility for industry
- Fertiliser Minister Ananth Kumar has said he has written to the Finance Minister for Rs 20,000 crore special banking arrangement to provide loan at reasonable rate to cash starved fertiliser companies.
- Fertiliser subsidy arrears are estimated to be around Rs 35,000 crore by end of this fiscal. In view of delayed payment of subsidy by the government, the industry has to bear about Rs 4,000 crore annually as interest costs.
- The Minister pointed out that fertiliser industry is facing some liquidity issue as it has sold soil—nutrients to farmers on 100 per cent credit post demonetisation.
- In November last year, the Minister had promised the industry to clear fertiliser subsidy arrears at the earliest.