Daily Current Events – 12 May 2016


Agrihub to provide one-stop solution to farmers

The Agrihub, a digital platform floated by two mechanical engineers will provide one-stop solution for farmers about products and technologies.

The Bengaluru-based portal will connect seed providers, agriculture equipment providers, retailers and distributors. It will also help the stakeholders to track innovations or products, find suppliers and facilitate and educate to make rapid purchase decisions.

Rajeeb Roy co-founded the firm along with another Mechanical Engineer Abhishek Bhatt and Sidharth Kumar in Bengaluru.

“While the urban trader has access to new products and technology it is difficult for those from remote towns to know about them. At best they can know about it through extensive visits to exhibitions. Businesses and small companies spend thousands of dollars to showcase their existing products and launch new products in exhibitions. The duration of these exhibitions is for about three to four days and the footfall is usually more of casual visitors. Agrihub has been started to address these issues,” Chief Executive Officer, Mr. Roy said.

Over 3,600 farmers and well-known brands such as John Deere, Yara Fertilizers, Rallis, Namdhari Seeds, Tafe, KF Bioplants, New Holland Agriculture, Known Your Seed, Ginegar and Nagarjuna have already been listed on the platform.

The product category offered by the company includes: seeds and plants; irrigation products; fertilizers and plant protection products; farm tools and equipment and hi-tech agriculture and allied products.


Indian economy poised to grow 7.3 % in 2016: U.N. report

Notwithstanding delays in domestic policy reforms, India’s economy “is slowly gaining momentum” and “is projected to grow by 7.3 per cent this year,” a United Nations report forecast on Thursday.

The World Economic Situation and Prospect report, in its mid-2016 update, has said India is expected to achieve a 7.5 per cent GDP growth in 2017 and the economic prospects of the South Asian region will be “contingent” on the growth trajectory of India and Iran.

Economy slowly gaining tempo

“India’s economy is slowly gaining momentum, with an expected GDP growth of 7.3 and 7.5 per cent in 2016 and 2017, respectively.

“Despite some delays in domestic policy reforms and enduring fragilities in the banking system, investment demand is supported by the monetary easing cycle, rising FDI, and government efforts towards infrastructure investments and public-private partnerships,” the report, released here said.

Bad news for China

China, which grew at about 6.9 per cent in 2015, will continue to witness slowdown in growth, with its GDP projected to grow 6.4 per cent in 2016 and 6.5 per cent in 2017.

“A larger-than-expected slowdown in China would have widespread spill-over effects through trade, financial and commodity markets, while a further deterioration of commodity prices could trigger debt crises in certain commodity-dependent economies,” said the report, produced jointly by the U.N. Department of Economic and Social Affairs (UNDESA) and the U.N. Conference on Trade and Development (UNCTAD).

In line with January projections

 The growth estimates for India in the mid-year update are in line with projections made in January this year, when the 2016 World Economic Situation and Prospect report had said that India will be the world’s fastest growing large economy at 7.3 per cent in 2016, improving further to 7.5 per cent in the following year.

India’s economy, which accounts for over 70 per cent of South Asia’s GDP, had grown by about 7.2 per cent in 2015.

Oil does the trick for South Asia

The report added that despite the protracted instabilities and general weakness of the global economy, South Asia’s economic outlook remains favourable, with most countries benefiting from low oil prices.

Regional GDP growth is expected to accelerate from 6.1 per cent in 2015 to 6.6 this year and 6.8 per cent in 2017, owing to robust private consumption, strengthening investment demand and gradual progress on domestic policy reforms.

Relatively tame inflation

Inflation in the South Asian region is projected to remain relatively tame, reflecting subdued commodity prices and lower pressures from supply-side bottlenecks.


Indirect tax collections rise 42 % in April

Indirect tax collections for April 2016 grew 42 per cent over their level in April 2015.April’s collections amount to 8.3 per cent of the Budget Estimates for the financial year.

Central excise collections saw a 71 per cent increase in April 2016, coming in at Rs. 28,252 crore compared to the Rs. 16,546 crore in April 2015.

 Excise collections thus made up nearly 44 per cent of the government’s total indirect tax collections in April.

The growth in total indirect tax collections were mainly driven by the growth in excise collections due to several additional revenue generating measures taken by the government over the last year such as increasing the excise duty on petrol, diesel, and tobacco.

Excluding such measures, the growth in total indirect tax collections stood at 17 per cent, according to the government.

Service tax collections amounted to Rs. 18,647 crore in April 2016 compared to Rs. 14,585 crore during the same period of the previous year, a growth of 27.9 per cent.The third category of indirect tax collections, customs duty collections, came in at Rs. 17,495 crore in April 2016, up 22.5 per cent from the Rs. 14,286 crore seen in April 2015.

This data comes at a time when the government announced on Tuesday that it has unearthed approximately Rs. 50,000 crore of indirect taxes evasion and undisclosed income of Rs. 21,000 crore over the last two years.


WHO clears air: Delhi no longer most polluted, that’s Zabol in Iran

DELHI IS no longer the world’s most polluted city, says WHO. The national capital is now the 11th most polluted city in the world, based on average annual PM 2.5 readings of 3,000 cities in 100 countries, according to the WHO’s latest urban air quality database for 2016.

Glow-In-The-Dark Cement Could Save Electricity

Researcher José Carlos Rubio needed to check whether he could make sense of an approach to light up expressways and streets around evening time – without utilizing power.

Rubio soon found a genuinely creative arrangement; he found that by modifying the fine structure of cement in some ways, he could come up with a variety that seemed to glow in the dark.

 Rubio, who works at the Universidad Michoacana de San Nicolas de Hidalgo, has been looking into the cement for a long time. He said the main issue to handle was the way that cement is murky – no light can pass through it. He began to delve into the cement-production process. In one method for making cement, it begins as dust blends with water. As it gels, it sees the formation of crystal flakes. The drops are a superfluous result, so Rubio found an approach to change the microstructure of cement so they could be eliminated. This outcomes in an exciting impact: his cement without the crystal flakes can ingest sun powered energy and radiate it as light during the evening.

As per Rubio, the light-transmitting item could keep going for a long time and give light to around 12 hours during the evening. The force of light radiated can be changed so it doesn’t overpower drivers or cyclists. The light gleams as a cool green or blue.

The cement would spare a lot of power, as well as the procedure to make it is naturally neighborly too. Amid assembling, the main thing discharged is water vapor.

There are a wide assortment of business applications; as indicated by Rubio, four billion tons of cement were made all through the world in 2015, and the sparkling cement can be put to use for roads as well as structures too. The innovation could even be utilized as a part of plaster. As per the journal Investigacion ,Desarrollo, Rubio’s examination has achieved the commercialization stage.


Domestic violence Act misused: Centre

The government recently told the Rajya Sabha that provisions of the Domestic Violence and Anti-Dowry Acts are being misused and several NGOs had also given reports supporting it.

Records show that only 13 persons were convicted out of the 639 charge sheeted in 2014 under the Protection of Women from Domestic Violence Act 2005. Many fake cases are being registered under the act and there the Act is also being misused.

Way Forward:

Even while admitting that misuse does happen, the government has made it clear that it’s focus is on women safety and any dilution to it could not be allowed.Legal experts say that there have to be checks and balances.

Eradicating these acts is not the solution as there are still several genuine cases and such women need protection. There ought to be a better mechanism to deal with such cases. Instead of immediately arresting people upon a complaint, the police should first probe before taking action.

The Protection of Women from Domestic Violence Act 2005 was enacted to protect women from domestic violence.

  • It is a civil law meant primarily for protection orders and not meant to penalize criminally.The Act provides for the first time in Indian law a definition of “domestic violence”, with this definition being broad and including not only physical violence, but also other forms of violence such as emotional/verbal, sexual, and economic abuse.
  • The act does not extend to Jammu and Kashmir, which has its own laws, and which enacted in 2010 the Jammu and Kashmir Protection of Women from Domestic Violence Act, 2010.

Few Facts :-

  1. 266% Growth in Tourists arrival on E-Tourist Visa in April 2016 over the same period in 2015.
  2. World’s biggest plane, the Antonov An-225, destined for Perth, takes off from Prague.

 

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By | 2016-05-13T05:47:44+00:00 May 13th, 2016|Daily Current Events|0 Comments