26-27 March 2017 Current Affairs

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27 Mar, 2017

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1) What is the new proposed name for Central Board of Excise & Customs (CBEC), the apex policy-making body for indirect taxes, as announced on 25 March 2017? – Central Board of Indirect Taxes & Customs (CBIC)

Explanation: According to an announcement made by the Union Government on 25 March 2017, the apex policy-making body for indirect taxes, Central Board of Excise & Customs (CBEC) is being rechristened as the Central Board of Indirect Taxes & Customs (CBIC) in the run up to the Goods and Services Tax regime to be rolled out from 1 July 2017.

CBIC would supervise the work of all its field formations and directorates and assist the government in policy making in relation to GST, continuing central excise levy and customs functions.

The existing formations of central excise and service tax under the CBEC have been re-organised to implement and enforce the provisions of the proposed GST Laws.

The CBIC will have 21 zones, 101 GST Tax payer Services Commissionerates comprising 15 sub-commissionerates, 768 Divisions, 3,969 Ranges, 49 Audit Commissionerates and 50 Appeals Commissionerates.

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2) On 25 March 2017 who became the first woman combat officer to be commissioned in the 51-year history of the Border Security Force (BSF)? – Tanushree Pareek

Explanation: Tanushree Pareek created history in the annals of the BSF, the country’s largest border guarding force, as she became force’s first-ever combat officer on 25 March 2017. She was commissioned into the service on the same day.

She also led the passing out parade of 67 trainee officers that was reviewed by Union home minister Rajnath Singh at the Border Security Force camp at Tekanpur (MP).

A resident of Rajasthan’s Bikaner, Tanushree is the first woman to join the force in the officer rank after she was selected in the all-India exam conducted by the Union Public Service Commission (UPSC) in 2014.

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3) Which China-backed civil servant was on 26 March 2017 chosen to be Hong Kong’s next leader amid accusations that Beijing is meddling and denying the financial hub a more populist leader? – Carrie Lam

Explanation: Carrie Lam will become Hong Kong’s first female chief executive when she takes office on 1 July 2017. In the polls held on 26 March 2017, Lam won 777 votes compared with 365 for her closest rival, former financial secretary John Tsang. It is worth mentioning that polls had shown that Tsang was more popular.

The election of Lam was protested by activists in Hong Kong. It is widely perceived that China is meddling and denying Hong Kong a more populist leader perhaps better able to defuse political tension. Around three quarters of the 1,194 members of the election committee were from the mainland (China) camp.

Since Hong Kong returned to Chinese rule in 1997, Beijing has gradually increased control over it even though China had promised wide-ranging freedoms and autonomy not allowed on the mainland under the formula of “one country, two systems”, along with an undated promise of universal suffrage.

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4) Who won the first Formula 1 Grand Prix title of the year – the Australian F1 Grand Prix on 26 March 2017? – Sebastian Vettel

Explanation: 4-time F1 champion Ferrari’s Sebastian Vettel (Germany) beat Lewis Hamilton (Britain) of Mercedes in a straight fight on 26 March 2017 as Formula 1’s new season started at the Australian Grand Prix. Hamilton’s teammate Valtteri Bottas (Finland) finished third.

This was Vettel’s first win since the Singapore GP in September 2015 and many F1 analysts believe that Mercedes’ domination will now be over after the introduction of faster cars.

Force India’s Sergio Perez (Mexico) finished seventh to accumulate 6 points while his new teammate Esteban Ocon (France) finished tenth to get his first-ever F1 point in his debut race for Force India.

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Know, who is Vijay Kelkar and what is PPP !

Vijay Kelkar is a renowned economist and a former Finance Secretary. He was appointed head of newly constituted committee to give recommendations to recast the model of Public-Private-Partnership (PPP) model in India. India is one of the largest PPP market with over 900 projects. The Kelkar committee will review the PPP policy, suggest a better risk-sharing mechanism between private developers and the government after analysing such projects.

Know, who is Yaduveer Krishnadatta Chamaraja Wadiyar !

Yaduveer Krishnadatta Chamaraja Wadiyar was crowned as the new Maharaja of of Mysuru (Mysore) royal family. He is the 23-year old grandson of Princess Gayathri Devi, who was the eldest daughter of the last Maharaja of Mysore, Sri Jayachamarajendra Wadiyar. The coronation was held at Mysuru’s famous Amba Vilas Palace, which was decked up for the occasion.

Know about Sepp Blatter!

Swpp Blatter, was re-elected as FIFA president for a fifth term at the 65th Annual Congress of FIFA held at Zurich for four year term.

Prince Ali bin al-Hussein of Jordan stood against Blatter in this election. It is worth mentioning that FIFA is going through a major controversy regarding corruption in the organisation with two FIFA vice presidents and a recently elected FIFA executive committee member still in custody.

 


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