Top current affairs of 2014 (National, International, Economy)

National
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>>>Goods and Services Tax Bill, 2014 introduced in Lok Sabha
>>It is also called Constitution (122nd Amendment) Bill.
>>It seeks to introduce Goods and Services Tax (GST) regime.
>>Inserts article Articles 246A, 269A and 279A in the Constitution.
>>Provides for Union Finance Minister headed GST Council.
>>Sets in a uniform and integrated indirect tax regime in India.
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>>>14th Finance Commission submitted its report to President
>>It covers the period between 1 April 2015 and 31 March 2020.
>>The Commission headed by former RBI Governor Y V Reddy.
>>Provides for devolution of tax receipts from the Centre to the States.
>>Article 280 of Constitution provides for appointment of Finance Commission.
>>First and 13th Finance Commission was headed by K C Neogy & Dr Vijay Kelkar resp.
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>>>Union government decriminalized Attempt to Suicide
>>For this purpose Section 309 of Indian Penal Code removed.
>>20th Law Commission headed by Justice A P Shah recommended in its 210 Report.
>>210th Report on Humanization and Decriminalization of Attempt to Suicide.
>>France was the first country to decriminalize this offence
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>>> Lok Sabha passed the Repealing and Amending (Second) Bill, 2014
>>Introduced as a periodic measure for updating the list of laws in force.
>>Seeks to repeal 90 laws and pass amendment to two laws.
>>Proposes to amend the two laws to rectify typographical errors
>>The laws are Railways (Amendment) Act, 2008 and the Indian Maritime University Act, 2008.
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>>>Karnataka Mobile One App launched for m-governance.
>>Launched by President Pranab Mukherjee in Bengaluru.
>>First such app in India to usher in an era of mobile governance.
>>Developed under the ICARE program of Karnataka government.
>>Expected to provide more than 4000 services to citizens.
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>>>Social Justice Bench constituted on social issue
>>Constituted by Supreme Court on 3 December 2014.
>>Started operation on 12 December 2014.
>>The brainchild of Chief Justice of India H L Dattu.
>>Two-judge bench to be headed by Justice Madan B Lokur.
>>The other member is Justice U U Lalit.
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>>>627 names of Indians holding black money abroad submitted to SC
>>Includes details of treaties India signed with France and other nations.
>>Half of the 627 names are Non-Resident Indians (NRIs).
>>Most of them have accounts with HSBC Bank, Geneva.
>>SIT headed by Justice M B Shah is probing black money case
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>>>Union government unveiled new counter-Naxal doctrine
>>Proposes four-pronged approach to deal with Naxals.
>>These are Security, Development, Rights and Entitlement and Public Perception Management.
>>Focus on security interventions in worst LWE-affected areas.
>>In moderately-affected areas, security and development initiatives will be focus.
>>In less affected areas, development interventions will take precedence
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>>>Swachh Bharat Mission launched
>>Launched on occasion of 145th birth anniversary of Mahatma Gandhi
>>Aims at making India clean by 2019
>>The year 2019 will be 150th anniversary of Mahatma Gandhi
>>Nine people nominated to inspire people to join the Mission
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>>>SC quashed allocation of 214 coal blocks
>>Quashed by SC bench headed by Justice R M Lodha
>>Allocations were arbitrary and illegal
>>4 out of 218 coal blocks not cancelled
>>Includes one of NTPC and SAIL each and two of Sasan UMPP owned by Anil Ambani
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>>>Pradhan Mantri Jan Dhan Yojana (PMJDY) launched
>>It was launched on 28 August 2014
>>Aims to open 15 crore bank accounts by 15 August 2015
>>It is a mega financial inclusion plan
>>Each person covered to be provided bank accounts and RuPay debit cards
>>Also provision for inbuilt insurance cover of 1 lakh rupees
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>>>India: first Country to Ratify the Marrakesh Treaty
>>India ratified the treaty on 30 June 2014
>>Will facilitate access to published works for blind and visually impaired persons
>>The treaty was signed in Marrakesh, Morocco on 28 June 2013
>>It has been signed by 64 countries
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>>>SC ruled Shariat Courts are illegal
>>No legal status has been granted to the Sharia Courts
>>Its fatwas/decrees are illegal if it violates fundamental rights
>>The decision was delivered by SC bench headed by Justice C K Prasad
>>The judgement given on a petition filed by Vishwa Lochan Madan in 2005
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>>>India became permanent signatory to Washington Accord
>>India signed the Accord on 13 June 2014
>>Joined a select group of 17 countries who joined the Accord
>>Global employment opportunities for India’s technical and engineering graduates to increase
>>Accord promotes mobility and quality assurance of engineers across international boundaries
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>>>Sumitra Mahajan elected as Speaker of 16th Lok Sabha
>>She replaced Meira Kumar
>>Became the second women presiding officer of the Lok Sabha
>>She was elected to 9th Lok Sabha in 1989 for the first time
>>2014 elections was her eighth continuous term as Member of Parliament
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>>>Telangana became the 29th state of India
>>It achieved statehood on 2 June 2014
>>Ten districts of the then Andhra Pradesh became part of Telangana
>>Chandrasekhar Rao sworn-in as the first Chief Minister
>>ESL Narasimhan is the Governor of Telangana
>>Hyderabad is the joint capital of Telangana and Andhra Pradesh
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>>>Narendra Modi sworn-in as 15th Prime Minister of India
>>He was sworn-in on 26 May 2014
>>He took oath with 45 Council of Minister including 23 Cabinet Ministers
>> First Prime Minister of India born in independent India
>>For the first time 25% of the Cabinet post allocated to women
>>Swearing-in ceremony attended by heads of seven SAARC countries
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>>>16th Lok Sabha Elections 2014
>>The election results for 543 constituencies declared on 16 May 2014
>>Bharatiya Janata Party emerged victorious with 282 seats
>>Congress led incumbent government just secured 44 seats
>>BJP won the majority for the first time since independence
>>The elections were conducted in nine phases from 7 April – 12 May 2014
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>>>Karnataka: first state in India to launch Health Adalat
>>The Health Adalat was launched in Gulbarga, Karnataka.
>>Aims to ensure that all health facilities extended by the government reached all sections of society.
>>During Health Adalat the department will interact with public representatives.
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>>>Debroy Panel on restructuring Railway Board
>>The Panel would submit its report till the end of 2015
>>The seven-member panel will be headed by economist Bibek Debroy
>>Mandated to estimate the financial needs of railways and ensure policies to raise resources
>>Restructuring of railway board announced in Union Budget 2014-15
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>>>Film Liar's Dice: India's official entry for Oscar Awards 2015
>>The movie has been directed by Geethu Mohandas
>>It is nominated for the Best Foreign Language Film category
>>12-member jury headed by eminent filmmaker T Hariharan nominated it
>>Leading casts are Geetanjali Thapa and Nawazuddin Siddiqui
>>The 87th Oscar Awards will be held in the US on 22 February 2015
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>>>C Rangarajan Committee on Poverty
>>Total number of poor in India at 363 million or 29.6 percent of the population
>>The daily per capita expenditure pegged at 32 rupees for the rural poor
>>The daily per capita expenditure pegged at 47 rupees for the urban poor
>>Poverty line is pegged 972 rupees per month for rural India
>>Poverty line pegged at 1407 rupees per month for urban India
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>>>Largest Solar Power Plant of India launched
>>130-MW Welspun Solar Plant launched at Bhagwanpur in Neemuch, MP
>>It is also the Asia's Largest Solar Power Plant.
>>It was constructed at a cost of 1100 crore rupees.
>>The Project will raise Indian solar capacity by 7 percent.
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International
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>>>US President signed Ukraine Freedom Support Bill, 2014
>>The Act authorizes administration to impose sanctions on Russia
>>The sanctions to be imposed if needs arises
>>Sanctions were imposed on Russia over Ukraine crisis
>>Authorizes 350 million US dollars in lethal and non-lethal military aid Ukraine
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>>>Japanese Prime Minister Shinzo Abe re-elected
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>>>Nobel Prize presented
>>Peace Prize winners Kailash Satyarthi & Malala Yousufzai
>>Physiology Prize winners John O'Keefe, May-Britt Moser and Edvard I. Moser
>>Literature Nobel Prize winner French author Patrick Modiano
>>Physics Nobel Prize winner Isamu Akasaki, Hiroshi Amano and Shuji Nakamura
>>Chemistry Nobel Prize Eric Betzig from Janelia Research Campus, Stefan Hell, Gottingen
>>Economic Nobel Prize given to Jean Tirole
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>>>First World Soil Day observed on 5 December 2014
>>The Day was observed by the UNFAO
>>UNFAO and GSP declared the year 2015 as UN International Year of Soils
>>Events held to raise idea that soil is a critical component of natural system
>>The day coincides with birthday of Thailand’s King Bhumibol Adulyadej
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>>>Corruption Perceptions Index 2014 released
>>This was the 20th edition
>>Measures perceived levels of public sector corruption in 175 countries
>>India with a score of 38 was ranked 85th
>>The index was topped by Denmark with a score of 92.
Index is prepared by Transparency International
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>>>Time Magazine released list of 25 Best Inventions 2014
>>Mangalyaan named among the best inventions of 2014
>>Magazine describes it as a technological feat
>>It is described as Supersmart Spacecraft- Mangalyaan
>>The list also includes two inventions of Indians namely Blue Room and tablet toy, Osmo
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>>>The G20 Summit 2014 concluded
>>The Summit saw release of Brisbane Action Plan
>>Action Plan comprises of 800+ reforms to boost global growth
>>Sets an ambitious goal to lift G20 growth by 2.1 percent by 2018
>>Seeks to reduce the gender gap in labour force participation rates by 25 percent by 2025 
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>>>25th anniversary of Fall of Berlin Wall celebrated
>>The fall of the Berlin Wall happened on 9 November 1989
>>It was the most significant event in recent German history
>>The Berlin Wall was built in 1961 by East Germany
>>It was built to stop people fleeing from East Germany to the West
>>The Wall stretched for 155 kilometers of which only 3 kilometer remains now
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>>>Forbes list of World's Most Powerful People 2014 released
>>The list gives the annual ranking of the World’s 72 Most Powerful People
>>The list was topped by Russian President Vladimir Putin.
>>Indian Prime Minister Narendra Modi was ranked 15th
>>Mukesh Ambani is ranked 36th on the list
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>>>India re-elected to UNHRC
>>It was re-elected for the period 2015-2017
>>India received the highest 162 votes in the Asia Pacific group
>>India’s first term as member due to end on 31 December 2014
>>14 other member states also elected to UNHRC for a three-year term
>>The UNHRC promotes and protects human rights
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>>>India-Vietnam signed 7 pacts
>>Pacts signed to strengthen Strategic Partnership
>>Signed during President Pranab Mukherjee visit to Vietnam
>>President gifted sapling of the holy Bodhi Tree to Vietnam
>>Diplomatic relations between the two countries established in 1972
>>The strategic relationship between the two countries established in 2007
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>>>Inaugural Tang Prizes 2014 presented in Taipei
>>The Tang Prize is treated as Asia's version of the Nobels
Winners of the inaugural Tang Prizes are
Sustainable Development - Gro Harlem Brundtland former Premier of Norway
Sinology – Chinese American, Historian Yu Ying-shih
Biopharmaceutical Science - James P Allison of US and Tasuku Honjo of Japan
The Rule of Law - Albie Sachs, former justice of the Constitutional Court of South Africa
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>>>Unity Deal signed in Afghanistan
>>Unity deal signed between Abdullah Abdullah and Ghani Adhmadzai
>>The deal ended three-month stalemate over government formation in Afghanistan
>>The stalemate was due to allegations that elections were rigged
>>The deal calls of creation of post of CEO who will be the acting Prime Minister
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>>>Ebola Virus Disease outbreak
>>More than 7000 patients died due to the Ebola Virus in West Africa.
>>Ebola Virus disease first surface in Guinea in March 2014
>>Nigeria, Sierra Leone, Guinea and Liberia are the countries affected
>>Ebola disease was first detected in Congo basin of Zaire
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>>>Fields Medal 2014
>>The Fields Medal Awards held in Seoul, South Korea.
>>The award recognized contributions of four medalists.
>>Artur Avila, Manjul Bhargava, Martin Haire, Maryam Mirzakhani are the recipients
>>The Fields Medal was first awarded in 1936.
>>First winner were Finnish mathematician Lars Ahlfors and American mathematician Jesse Douglas.
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>>>Prayuth Chan-ocha elected Prime Minister of Thailand
>>He is a former Army Chief of Thailand
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>>>6th BRICS Summit: Fortaleza Declaration
>>Held in Fortaleza, Brazil on 15 July and 16 July 2014.
>>Theme of the Summit was Inclusive Growth: Sustainable Solutions.
>>The participating countries Brazil, Russia, India, China and South Africa
>>The BRICS Network University will be established
>>BRICS Development Bank to be established
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>>>UNSC adopted resolution to probe into MH-17 plane crash
>> Resolution adopted by 15-member UNSC unanimously.
>> It demands free access to the crash site of Malaysian plane MH17.
>>It insisted on dignified and respectful treatment of bodies of the victims.
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Economy & Corporate
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>>>Advisory Group on Integrated Development of Power
>>The Group was headed by Suresh Prabhu
>>It has suggested opening up of the coal sector
>>Called for improvement in Coal India Ltd and its subsidiaries
>>Expedite reforms in the distribution sector with targeted actions
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>>>SBI Mutual Fund launched Shariah Equity Fund
>>The fund is aimed at attracting investments from Muslim populations of India. 
>>The fund approved by the All India Muslim Personal Law Board
>>SBI MF fourth fund house in India to have an Islamic equity fund.
>>India second country outside the Islamic world where a state-owned bank is offering such fund
>>The UK is the first country who issued sovereign Islamic bonds in June 2014
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>>>Kotak Mahindra Bank first bank in India to fully own insurance business
>>RBI gave permission to the bank for setting up Kotak General Insurance
>>Kotak General Insurance will be the 29th non-life insurance company in the country
>>The CEO of the company will be Mahesh Balasubramanian
>>The bank already promotes life insurance with Old Mutual of South Africa
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>>>SEBI de-recognised Delhi Stock Exchange (DSE)
>>De-recognised on account of serious irregularities in demutualisation process
>>SEBI demutualisation rules requires every stock exchange to sell brokers' 51% equity
>>DSE was incorporated in 1947
>> It is an amalgamation of Delhi Stock and Share Brokers' Association Ltd and the Delhi Stocks and Shares Exchange Ltd
>>>Shell India won 18000-crore rupees tax dispute case
>>It won the tax case against Income Tax department
>>The decision given by Bombay High Court
>>Decision based on legal principle laid down in the Vodafone case
>>It ruled that transfer pricing does not arise in case of transfer of shares
>>The case pertains to alleged under pricing of shares issued by Shell India
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>>>Alibaba made the record of earning 9.3 billion US dollars on a single day
>>Alibaba shipped 278 million orders out of which 43 percent were mobile devices
>>It achieved the staggering figure on Singles Day shopping event
>>The event celebrates the bachelorhood of Young single Chinese
>>Alibaba is a Chinese e-commerce giant founded by Jack Ma
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>>>SoftBank of Japan to invest 10 billion dollars in India
>>Will invest in India's IT and communications sector in coming years
>>Announced to invest 627 million US dollars in Snapdeal
>>Signed definitive agreement to invest 210 million US dollars in ANI Technologies
>>Chairman and CEO of the SoftBank is Masayoshi Son
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>>>Union government de-regulated diesel and hiked natural gas rates
>>The price of diesel to be market-linked
>>The retail rates will reflect price changes in the global market.
>>The government will no longer provide subsidy on diesel.
>>This is the first reduction in diesel rates since 2009.
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>>>Google closed Orkut
>>Orkut is a social network site
>>Google announced to shut down Orkut in June 2014.
>>Old users of Orkut can take back up of pictures till September 2016.
>>Orkut was started in 2004 and named after its creator, Orkut Buyukkokten.
>>Google has moved to a new platform the Google Plus.
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>>>Union government decided to wind up HMT Watches
>>The unit has been incurring losses since 2000
>>HMT Watches is a wholly owned subsidiary of Hindustan Machines Tools (HMT) limited
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>>>RBI fixed the upper age limit at 70 years for M.D. and CEO in private sector banks
>>The decision was taken to comply with the Section 196(3) of the Companies Act, 2013
>>Individual bank’s boards free to prescribe a lower retirement age for whole time Directors
>>Earlier, no maximum age was specified and decisions were taken case by case
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>>>Union Government granted Navratna Status to CONCOR
>>CONCOR is the 17th Central Public Sector Enterprise (CPSE) to achieve Navratna Status.
>>The status was accorded by the Department of Public Enterprises.
>>CONCOR current Chairman and Managing Director (CMD) is Anil Kumar Gupta.
>>It deals in Export-Import and domestic trade and commerce policy of India.
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>>>Expenditure Management Commission constituted
>>The Commission will be headed by Bimal Jalan
>>He is a former RBI Governor
>>Commission will suggest the way for managing public finances by reducing subsidies. 
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>>>ICICI Bank became the first bank in India to launch EMI facility on Debit Card
>>This was so far available only for credit cardholders.
>>Will enable customers to convert their high value transactions into easy installments
>>Facility available to debit cardholders with minimum fixed deposit of 10000 rupees
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>>>C S Verma elected as First President of Indian Steel Association
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>>>DIPP notified Press Note 8 allowing 100% FDI in Rail infrastructure.
>>FDI in rail infrastructure will be through automatic route
>>FDI will not be allowed in train operations and safety
>>Proposals involving FDI beyond 49 percent in sensitive areas to be placed before the Cabinet Committee on Security
>>Definitions of infrastructure and common facilities have also been widened
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>>>Union Finance Minister, Arun Jaitley presented Union Budget 2014-15
>>This was the first budget of newly appointed government led by Narendra Modi.
>>It focussed on providing good infrastructure like public transport, solid waste disposal.
>>Emphasized on skill development and entrepreneurship in the budget.
>>Announced that the FDI cap in Defence sector would be raised to 49 percent.