President Pranab Mukherjee, currently on his four-day official visit to Russia, inaugurated a festival of Indian culture “Namaste Russia” in Moscow.
Today (11th May) is the National Day of technology.
- We observe this day to celebrate the achievements of India in science and technology and to commemorate the anniversary of the Shakti, the Pokhran nuclear test on 11 May 1998.
The government today introduced the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement (Second Amendment) Bill, 2015 Lok Sabha, amidst a great uproar by the opposition.
- Bill Whistleblower (Amendment), 2015 was also introduced in the Lok Sabha.
Undisclosed foreign income and assets bill, which provides for heavy penalties for those storing black money in foreign accounts, was passed in the Lok Sabha today.
- This bill provides a window to those funds abroad to come clean in payment of tax, interest and penalties.
- For those who refuse to do so, the bill includes provisions for stringent punishment, including imprisonment of 3-10 years.
Eminent banker KV Kamath was today appointed as head of the Business Development Bank of New $ 100 billion, which is implemented by the five emerging economies of the BRICS group.
Important points to note:
- The BRICS – Brazil, Russia, India, China and South Africa – agreed to set up the Development Bank $ 100 billion last July to be based in Shanghai.
- Under the agreement, India has obtained the right to appoint its first president.
- It would be headed by an Indian for a first term of five years, followed by a Brazilian and Russian.
- Past President of the Parliament’s Public Accounts Committee (PAC), leader of the Congress high KV Thomas, was renominated to the post for a second term.
- Note: The PAC examines the CAG reports after they are tabled in Parliament.
In a major victory for AIADMK, a special bench of the High Court of Karnataka canceled the trial court order sentencing the former Chief Minister Jayalalithaa of Tamil Nadu in the case of disproportionate assets.
- In September 2014, she was sentenced to four years in prison and a fine of Rs.100 crore has been imposed.
- It should be sworn in as chief minister on May 17
A Hyderabad court today granted bail to Satyam founder B Ramalinga Raju Computers and 9 other accounting fraud in the multi-crore rupees.
- The court suspended the sentence.
Science & Technology
Minister of Communication and Ravi Shankar Prasad IT launched “postinfo” Mobile App India Post today in New Delhi.
Andy Murray wins Singles title beating Madrid Masters Men Rafael Nadal.
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