1. Centre approves Real Estate Bill
i)
The Union government has approved the Real
Estate (Regulation & Development) Bill, 2015. It aims to protect consumer
interests, promote fair play and transparency in real estate transactions and
ensure timely execution of transactions.
ii)
This bill will boost domestic as well as
foreign investment in the sector and help the Central government to achieve ‘Housing
for All’ by enhanced private partnership.
iii)
The bill also aims to increase the realty
sector’s access to capital and financial markets, besides making builders more
accountable.
iv)
This bill is applicable for both
commercial and residential real estate projects. The ‘Real Estate Regulatory
Authority’ will be established in states/UTs to regulate transactions in the
sector.
2. Human Rights
Day observed on 10th December
i)
Human Rights Day is annually celebrated on
December 10 in order to commemorate the day when the Universal Declaration of
Human Rights (UDHR) was adopted in 1948.
ii)
The theme this year is “Our Rights. Our
Freedoms. Always.” and it marks the launch of year-long campaign for the 50th
anniversary of the International Covenant on Economic, Social and Cultural
Rights and the International Covenant on Civil and Political Rights, which were
adopted by the UN General Assembly in 1966.
iii)
These along with the UDHR form the
International Bill of Human Rights.
3. Parliament
approves amendments to National Waterways Bill
i)
Following the recommendations of the
Parliamentary Standing Committee on Transport, Tourism & Culture, the Union
government has approved the amendments to the National Waterways Bill, 2015.
ii)
The Centre has decided to declare 106
additional inland waterways as national waterways, taking the total number of
national waterways to 111. This is intended to boost industrial growth and
tourism.
iii)
The techno-economic feasibility studies
regarding the newly-proposed waterways will be done by the Inland Waterways
Authority of India (IWAI). Also, the respective state governments will have the
right over use of water, river bed & appurtenant land.
4. IISc
bags major US military contract
i)
Bengaluru-based Indian Institute of Science (IISc) has bagged a contract for
research & development on solar powered micro-grid from the US military.
ii)
As per this $52,900 contract, IISc will develop solar-powered micro-grid with
battery & super capacitor energy storage system.
5. Lok Sabha passes Indian Trusts (Amendment) Bill, 2015
i) Lok Sabha recently passed the Indian Trust (Amendment)
Bill, 2015, by a voice vote, to change provisions of the 133-year old act.
ii) The new bill discards the seven categories
of securities with which state money can be invested and layouts the manner of
investment of surplus funds of the trust for their future use.
iii) It also removes the requirement for case
to case approval by the government for investment in any security.
iv) The original Indian Trusts Amendment Act of
1882 regulated the functioning of private trusts & trustees in India.
6. TIME names Angela Merkel as the 2015 Person of the Year
i) TIME magazine named German Chancellor Angela
Merkel as 2015 Person of the Year. She was appreciated for her “steadfast moral
leadership’ in the face of challenges and her role in tackling the Syrian
refugee crisis, Greek debt crisis, among others.
ii) Merkel is just the fourth woman since 1927
to be chosen and the first since 1986 when Philippines opposition leader
Corazon C Aquino was given the title.
iii) ISIS leader Abu Bakr al-Baghdadi was
ranked second while US presidential candidate Donald Trump took the third spot.
7. 2016: UK-India Year of Education, Research &Innovation
launched
i) India & the UK recently launched a joint
initiative called the ‘2016: UK-India Year of Education, Research & Innovation’.
ii) The Union HRD Minister Smriti Irani & UK’s
Secretary of State, Business Innovation & Skills Sajid Javid launched the
initiative.
iii) This will boost collaborative research
work across ten priority areas under IMPRINT (Impacting Research Innovation
& Technology) and strengthen the relationship between India & UK in the
education sector.
iv) The partnership between UK academicians and
Indian community & polytechnic colleges in India, courses will be developed
to increase employability of students, especially in the manufacture &
service sectors.
8. Kartik Sawhney
& Neha Swain get 2016 Queen’s Young Leader Award
i) India’s Kartik Sawhney & Neha Swain won
2016 Queen’s Young Leaders Award in UK. They will be presented with the award
by Queen Elizabeth II in London.
ii) They have been chosen for their
extraordinary contributions. Sawhney, who is visually impaired, has been
honoured for his work in highlighting access to education for all through his
Project STEMAccess, which offers hands-on science workshops in India, as well
as virtual training sessions.
iii) Neha founded an NGO called Rubaroo, which conducts
interactive workshops to bring out the leadership qualities in young people who
come from different socio-economic backgrounds.
iv) This award recognises leadership qualities,
community building efforts of young people aged 18-29.
9. UNCTAD releases Handbook of Statistics 2015
i) The United Nations Conference on Trade &
Development (UNCTAD) released Handbook of Statistics 2015, which will provide
statistical data related to international trade, investment & development
for the year 2014.
ii) The total exports from developed economies were
around 55% ($13.2 trillion) of the total global trade while emerging economies accounted
for 41% ($10 trillion). Total global exports for 2014 were pegged at $24
trillion, a 1.2% increase compared to 2013.
iii) International service exports were 21% of
the total global exports, a 5% growth as compared to 2013.
iv) Total merchandise exports were valued at around
$19 trillion and increased by only 0.3%. The total value of export of mineral,
fuel, ores, metals etc. have declined sharply. The total FDI has also declined
by 16% vis-à-vis 2013.
10. Luxembourg ratified AoA of AIIB
i) Luxembourg is the 10th country to
ratify Articles of Agreement (AoA) of the Asian Infrastructure Investment Bank
(AIIB).
ii) Other countries who have ratified AoA
include Australia, Austria, Brunei, Darussalam, China, Mongolia, Nepal, New
Zealand, Singapore & UK.
iii) In 2014, 21 Asian countries established
AIIB, which is headquartered at Beijing and has been established to finance
infrastructure building in Asia.
11. Mahela Jayawardene gets honorary lifetime membership of
MCC
i ) Marylebone Cricket Club (MCC) awarded its
honorary lifetime membership to former Sri Lankan cricket team captain Mahela
Jayawardene.
ii) The membership recognises Jayawardene’s
illustrious career during which he scored 11,814 runs in 149 Test matches with
an average of 49.84.
iii) MCC is a London-based cricket club,
founded in 1787.
12. UNSC adopts resolution on youth, peace & security
i) The United Nations Security Council has
approved the first-ever resolution on youth, peace & security for higher
participation of youth (aged 18-29) across the world in prevention of conflicts.
ii) The resolution urges member states to set
up mechanisms to increase participation of the youth in peace-building. It also
focusses on protection of civilians, especially the youth, during armed
conflicts.
iv) It also urges member states to increase
their political, financial & technical support during & after an armed
conflict.
13. GFI releases report on illicit financial flows
i) Global Financial Integrity (GFI), a US-based
think tank, released a report titled -‘Illicit Financial Flows from Developing Countries
2004-2013″, denoting loss of $7.8 trillion in illicit financial flows during the
time period.
ii) Five countries with highest illegal financial
outflows are-China ($139 billion), Russia ($104 billion), Mexico ($52.8
billion), India ($51 billion) and Malaysia ($41 billion), where corruption, tax
evasion, crime, etc are the main reasons.
iii) In 2013, money to the tune of $1.1
trillion flowed illicitly in developing economies, a figure far greater than the
combined FDI & official development assistance (ODA) of the economies.
iv) Fraudulent mis-invoicing is the major reason (83.4%) behind illegal money
outflows. Asia has the highest volume (38.8%) of illicit finance in the world.
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