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Ace Bank Exams
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Current AffairsAnnual Issue
2016
Curren Affairs eBook] February, 2017
www.jagranjosh.com | Preface 4
PREFACE
The Current Affairs February-2017 eBook covers the current events that happened in the month of January. Current Affairs is a crucial component of any competitive exams including IAS|PCS, SSC, Banking and MBA.
The Current Affairs play the bigger role in many competitive and government exams. It holds the power of making or breaking your chance of success. Therefore, the candidates should cover the Current Affairs thoroughly and smartly.
However, there are huge numbers of student who are often confused about how to prepare the current affairs section of the different competitive exams. To clear such doubts and confusion, Jagranjosh.com has come up with eBook concept.
Although current affairs section per se is very wide to be covered, yet we have tried to cover all the possible current affairs for the month of January 2017.
The Current Affairs February-2017 eBook is divided into different section keeping in mind the need of various exams. The sections covered namely are International, National, Economy, Ecology and Environment, Science & Technology, Corporate, Sports, States News Makers and few others.
Every news item in each section is arranged date wise with the most recent news being covered first and so on. Highlights of the issue are- Eeverything about Budget, Idea of simultaneous elections in India, India’s new defence policy- 2014-16, the story of three parent baby, Jallikattu Controversy.
Presentation of the given current affairs has been planned meticulously. It has been planned in such a way that it remains in the minds of readers for a longer duration. Wherever necessary each news item is presented along with a background and analysis so as to help candidates contemplate all the important current events at the time of exam in an effective way.
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February, 2017 [Curren Affairs eBook]
5 INDEX | www.jagranjosh.com
INDEX
Cover Story ............................................................................................... 8
National | India ...................................................................................... 28
Economy ................................................................................................. 82
Corporate ............................................................................................. 120
Committees | Commissions ................................................................. 127
Defence | Security ................................................................................ 131
Environment | Ecology ......................................................................... 134
Science | Technology ........................................................................... 147
International | World ........................................................................... 170
Summit | Conference ........................................................................... 209
Art | Culture ......................................................................................... 211
Awards | Honours ................................................................................ 215
Sports ................................................................................................... 233
Person Appointed ................................................................................. 262
Person Died .......................................................................................... 282
States .................................................................................................... 296
Day | Week | Year ................................................................................ 315
Exam booster ....................................................................................... 323
Quizzes ................................................................................................. 327
Quantitative Aptitude (IBPS PO Pre) .................................................... 338
Sarkari Naukri ....................................................................................... 377
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L=50,000
pyramid = (1/3) b h
cone = (1/3) b h = 1/3 pi r 2 h
P = C (1 + r) t
B = A (1 + r/n)NT - P
2/PI = sqrt2/2 * sqrt( 2 + sqrt2 )/2 * sqrt(2 + ( sqrt( 2 + sqrt2) ) )/2 * ...c
PI/4 = 1/1 - 1/3 + 1/5 - 1/7 + ...
(n 0)B0 + (n 1)B1 + (n 2)B2
gamma = - integral(0-inf) e^-x ln x dx
Gamma(x+1) = x Gamma(x)
Gamma(x) = r x(integral)(0 to inf) e -rt t (x-1) dt
-(x+2) = 9-x -2 = 9-x = 11x = -11
ABSOLUTE VALUE
|−23|+|4|
4 × π × r2
(½) d1d2
1. |–a| = |a|
2. |a| ≥ 0
|a – b| ≥ |a| – |b
a+b =c
cone = (1/3) b h = 1/3 pi r 2 h
(4/3) pi r1 r2 r3
P = C e rt
PI/4 = 1/1 - 1/3 + 1/5 - 1/7 + ...
1. |–a| = |a|
2. |a| 2/PI = sqrt2/2 * sqrt( 2 + sqrt2 )/2 * sqrt(2 + ( sqrt( 2 + sqrt2) ) )/2 * ...c
-x ln x dx
Gamma(x+1) = x Gamma(x)
-(x+2) = 9-x -2 = 9-x = 11x = -11
(½) d1d2
cone = (1/3) b h = 1/3 pi r 2 h
(4/3) pi r1 r2 r3
P = C e rt
PI/4 = 1/1 - 1/3 + 1/5 - 1/7 + ...
1. |–a| = |a|
2. |a| 2/PI = sqrt2/2 * sqrt( 2 + sqrt2 )/2 * sqrt(2 + ( sqrt( 2 + sqrt2) ) )/2 * ...c
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Curren Affairs eBook] February, 2017
www.jagranjosh.com | cover story 8
COVER STORY
Everything you should know about Union Budget
from 2017
The Budget
The constitution of India defines
union budget under the article
112. It is also known as Annual
Financial statement. Budget is
estimated revenues and
expenditure of the Government
during a year. Budget is
presented for the proceeding
financial year. Every budget
consists of Actual figures for
preceding year’s budget and
revised figures for the current year and budget estimates for the following years. Under
Article 112 of the Constitution, a Statement of estimated expenditure of the Union
Government has to be laid before the Parliament in respect of every financial year running
from 1st April to 31st March. The union government has decided to present the budget on
1 February from 2017 before the parliament. Earlier it used to pass it on end of the
February.
WHAT ARE THE PARTS OF THE BUDGET?
The union budget is categorized into three parts:
Consolidated Fund: Consolidated Fund consists of revenues received by the government
and expenses made by it, excluding the exceptional items. This fund was established under
Article 266 (1) of the Constitution of India. All revenues received by the government by way
of direct taxes and indirect taxes, money borrowed and receipts from loans given by the
government come under the Consolidated Fund of India. All government expenditure is
made from this fund, excluding exceptional items which are met from the Contingency Fund
or the Public Account. No money is permitted to be withdrawn from this fund without the
Parliament's approval.
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9 cover story | www.jagranjosh.com
Public Account: Public Account of India was constituted for those transactions where the
government is merely acting as a banker. This fund was established under Article 266 (2) of
the Constitution.
Contingency Fund: Contingency Fund is constituted as an imprest account to meet some
urgent expenditure of the government. This fund was established by the government under
Article 267 of the Constitution of India. The Contingency fund is at the disposal of the
President. Any expenditure drawn from this fund requires a subsequent approval from the
Parliament and the withdrawn amount is submitted to the fund from the Consolidated
Fund.
HOW BUDGET IS CREATED?
1. Role of the Parliament
Indian parliamentary system of Government is based on Westminster model. The
Constitution has vested the power over the purse in the hands of elected representatives of
the people. It sanctifies the principle ‘no taxation without representation’. The government
is constitutionally obliged to present the preparation of the budget for the approval of the
Legislature. Legislative control over expenditure, Legislative prerogative over taxation, and
executive initiative in financial matters are some of the fundamental principles of the
system of Parliamentary financial control. The Constitution of India of India has laid down
specific provisions incorporating these tenets. For example, article 265 states that ‘no tax
shall be levied or collected except by authority of law’, and article 266 states that no
expenditure can be incurred except with the authorization of the Legislature.
2. Demands for Grants
The expenditures whose estimate gets mentioned in the budged are required to be voted by
Lok Sabha. These estimates are in the form of Demands for Grants. These Demands for
grants are arranged Ministry-wise and a separate Demand for each of the major services is
presented. Each Demand graft carries first a statement of the total grant and then a
statement of the detailed estimate divided into items.
HOW BUDGET IS PRESENTED?
In India, the date of the Budget presentation in the parliament is fixed by the President. The
Budget speech of the Finance Minister is divided into two parts. Part I deals with the general
economic survey of the country while Part II deals with taxation proposals. The Union
Budget is presented in Lok Sabha by the Minister of Finance. The minister of finance makes
a speech introducing the Budget.
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www.jagranjosh.com | cover story 10
WHAT ARE THE OTHER DOCUMENTS OF THE BUDGET?
Apart from, the ‘Annual Financial Statement’ Government presents the following
documents in the Union budget:
1. An Explanatory Memorandum which briefly explains the nature of expenditure and
receipts during the current year and the next year and the reasons for variations in the
estimates for the two years.
2. The Books of Demands which shows the provisions Ministry-wise and a separate Demand
for each Department and service of the Ministry.
3. The Finance Bill which deals with the taxation measures proposed by Government is
introduced immediately after the presentation of Budget. A memorandum explaining the
provisions of the Bill and their effect on the finances of the country is also presented with
the financial bill. We have elaborated the finance bill below in detail.
WHAT HAPPENS AFTER THE PRESENTATION OF THE BUDGET?
Vote on Account
Discussion on Budget takes place after a few days of the presentation of the Budget. The
Parliament can’t vote the entire budget before the beginning of the new financial year. This
creates the requirement to keep enough finance at the disposal of Government so that it
could run the administration of the country. Therefore, there is a special provision named
"Vote on Account" by which Government obtains the Vote of Parliament for a sum
adequate to incur expenditure on various items for a part of the year.
Analysis of the budget in the Parliament
After the General Discussion on both General Budget as well as Railway, the House is
adjourned for a certain period. During this period, the Demands for Grants of various
Departments /Ministries including Railways are considered by concerned Standing
Committees (Rule 331G). These Committees are responsible for making their reports to the
House within a fixed period without asking for more time. The Standing Committee consists
of 45 Members, 30 from Lok Sabha and 15 from Rajya Sabha. After the presentation of the
reports to the House, by the Standing Committees, the House moves ahead to the
discussion and Voting on Demands for Grants, Ministry-wise. The time for Voting of
Demands and discussion for Grants is allocated by the Speaker in consultation with the
Leader of the House. On the last day, the Speaker puts all the outstanding Demands to the
Vote of the House. This device is commonly known as ‘guillotine’.
February, 2017 [Curren Affairs eBook]
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Lok Sabha is given the power to assent to or refuse any Demand or even to reduce the
amount of Grant sought by Government. There is only a general discussion in Rajya Sabha
on the Budget. It does not have the power to vote on the Demands for Grants. Members of
both houses have full opportunity to criticize the budgetary provisions during the course of
the discussion. And they also have the opportunity to make suggestions for improving the
financial position of the country.
WHAT ARE THE BILLS WHICH ARE MANDATORY AFTER THE BUDGET?
1. Appropriation Bill
The Appropriation Bill is introduced by the government after the completion of the General
Discussion on the Budget proposals and Voting on Demands for Grants. The Appropriation
Bill is aimed to give authority to Government to incur expenditure from and out of the
Consolidated Fund of India. The procedure for passing this Bill is the same as in the case of
other money Bills.
2. Finance Bill
The Finance Bill seeks to give effect to the Government’s taxation proposals which is
introduced in Lok Sabha immediately after the presentation of the General Budget. The
finance bill is taken up for consideration and it is passed after the Appropriation Bill. Some
provisions in the Bill which are related to levy and collection of fresh duties come into effect
instantaneously on the expiry of the day on which the Bill is introduced under the
Provisional Collection of Taxes Act. The Finance Bill must be passed within 75 days of its
introduction by the Parliament.
Inclusion of Motor Vehicle Bill and Railway Budget in the Union Budget from 2017
The government of India has decided to merge Railway budget with Union Budget from
2017. It has also decided to present Motor Vehicle Bill along with Union budget and Railway
budget.
WHAT IS MOTOR VEHICLE BILL?
The union government has decided to present Motor Vehicle Bill with the Union Budget on
February 1.The Ministry of Road Transport and Highways formed a group of 18 Transport
Ministers of the States to advise changes to the existing Motor Vehicle Act to improve safety
for commuters. The committee’s recommendations have been assimilated as amendments
to 68 of the 223 sections in the Motor Vehicles Act. Recently sharp higher fines for traffic
rule violations were witnessed in the country. The new law includes comprehensive rules
that run the gamut on every aspect of road safety, from a National Registry for vehicles, to
Curren Affairs eBook] February, 2017
www.jagranjosh.com | cover story 12
guidelines encouraging commuters to report and help accident victims, to automated
testing for driving licences.
WHAT IS RAILWAY BUDGET?
The concept of the railway budget was advocated by British politician William Ackworth in
1924. He recommended a separate railway budget because, at that time, most of the
infrastructure spending by the British government went towards building railway lines. In
last year, the Government took a decision to merge Rail Budget with the Union Budget from
the budget year 2017-18. The merger is based on the recommendations of the Committee
headed by Bibek Debroy, who is a member of NITI Aayog. Bibek Debroy along with Kishore
Desai presented a separate paper on ‘Dispensing with the Railway Budget’. A Committee
with representatives from Ministry of Finance and Ministry of Railways examined the issues
mentioned and worked out the procedural details. The merger of the Union budget and
railway budget would mean that the Indian Railways would not have to separately bear the
burden. The Capital at the charge of the Railways on which annual dividend is paid by the
Railways will be relieved. Due to this, there would be no dividend liability for Railways from
2017-18 while Ministry of Railways would continue to get Gross Budgetary support for
capital expenditure.
---------------------------------------------------------------------------------------------------
Idea of simultaneous elections in India
Prime Minister Narendra Modi
advocated a very pertinent idea of
having simultaneous elections for
the Lok Sabha and state assemblies.
On September 5, 2016, on the
occasion of Teacher’s Day, President
Pranab Mukherjee also supported
the idea and urged all parties to
consider putting an end to constant
elections to ensure political stability. These statements by the prime minister and the
president have triggered a debate on simultaneous elections in India.
We have tried to explore this proposal in detail that whether holding elections
simultaneously is feasible and would suit the working of our democratic system.
Other Such Suggestions:
February, 2017 [Curren Affairs eBook]
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In a report on electoral reforms in India in 1999, The Law Commission had suggested that
simultaneous Lok Sabha and state assembly elections can be helpful to improve governance
and stability. To avoid frequent elections it is necessary to have stable elected bodies.
Elections in India have taken a form of a continuous cycle. Political parties in various states
are constantly seen in campaign mode. They always seem to be preparing for one election
or the other. This negatively affects policymaking and governance as the government is
captured in short-term thinking. It puts pressure on the exchequer and also puts pressure
on political parties, especially smaller ones, as elections are becoming increasingly
expensive.
In December 2015, A department-related parliamentary standing committee which
submitted its report studied the issue in detail and made some recommendations on
simultaneous elections. The committee suggested that general public opinion supports the
idea of simultaneous elections. One important suggestion it received was that elections for
assemblies with a term ending six months before or after the Lok Sabha election could be
clubbed with general elections. If this suggestion is implemented, this would mean assembly
elections can be held in 12 states in 2019 along with the Lok Sabha polls. It will help in taking
forward the process of economic reforms as decisions will not always be hostage to
assembly elections.
IMPACTS OF SIMULTANEOUS ELECTIONS
1. Improvement in Governance efficiency:
In India, if the elections to the local bodies are considered there is no year without some
elections taking place. Now this vicious circle of continuous elections is required to be
broken. It directly affects stability and without it, a satisfactory law and order situation and
economic development, situation are not possible. It can be said that efficient governance is
the first casualty when winning elections is the first priority of all politicians and
understandably so. As a result, and attending to people’s grievances and running an
administration take a back-seat and the bureaucracy rules the roost. As the moral code of
conduct is enforced during elections, this hampers the pace of economic development. So, If
all elections are held in one particular year, it will give a clear four years to the political
parties to focus on good governance.
2. Cost Reduction in Elections:
It is an undeniable fact that a huge amount of money is spent in conducting elections in
India, both by political parties and the candidates as well as the Election Commission of
India(the government). In India, there is a legal limit on how much money a candidate can
spend on his campaign from his own sources but most spend as much as they can in the
belief that this would help them reach out to a larger number of voters and also increase
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www.jagranjosh.com | cover story 14
their chances of winning. The simultaneous elections would reduce the amount of money
spent in the election. And Election commission’s money which comes from the public
exchequer would also be significantly reduced because it will have to do fewer
arrangements for less time to conduct the elections. There is hardly any doubt that the
fewer the number of elections, the lesser would be the expenses.
3. Stability In Elected Bodies:
To avoid frequent elections it is necessary to have stable elected bodies. India’s
parliamentary democracy is based on strong constitutional principles. It is mature enough
not to divert into a unitary model just because of simultaneous elections. And simultaneous
elections will help in electing stable elected bodies in long run. When elections happen
frequently and without any certainty it becomes difficult to have stability in elected bodies.
At the start, it would be difficult to get stability in election bodies but after 3-4 consecutive
simultaneous elections, it will become possible. Apart from it, In India, it is relevant to note
that a no-confidence motion is not mentioned in the Constitution or any law. It is mentioned
in Rule 198 of the Rules and Conduct of Business of the Lok Sabha, which states that 50 or
more members can move a no-confidence motion. If it succeeds, the government has to
resign. If no other party or parties can form the government, premature elections follow.
Apart from the consecutive government, an amendment is needed in this law. In Germany,
there is such law which allows the president to appoint a Marshal who conducts the
government till its time limit. This law will also be consistent with the notion of collective
responsibility of the government to the House as mentioned in Article 75 (3) of the
Constitution.
4. Transparency about the new Government:
Due to simultaneous elections, the country will always have a government which enjoys the
confidence of the Lok Sabha. People will come to know in advance who is going to be the
next PM and avoid the uncertainty as to who will lead the government. It will help in
ensuring that Lok Sabha completes its normal term of five years which is also mentioned in
the Constitution. If this proposal is applied to the states and local bodies, we can also have
transparency in all branches of the government.
5. Time Reduction in Elections:
There are undoubted benefits in conducting national and state elections together. It would
reduce the significant amount of time conducting elections in terms of the use of
paramilitary forces, government staff on election duty, organizing booths, EC staff, voter
slips, and electronic voting machines. The imposition of the ‘Model Code of Conduct’ every
time an election is scheduled delays the implementation of central and state government
February, 2017 [Curren Affairs eBook]
15 cover story | www.jagranjosh.com
welfare schemes and infrastructure projects and takes away time and effort from
governance issues.
CHALLENGES:
India has a parliamentary democracy with a federal set up. This system worked fairly well
when the Congress dominated the political scenario for the first two decades since
Independence. But with the disintegration of the Congress’ dominance, the emergence of
strong national and regional parties took place. In this scenario, it would be challenging to
successfully implement the idea of simultaneous elections. These challenges are discussed
below:
1. Mammoth Task to accomplish:
The logistics involved in holding simultaneous elections would perhaps be difficult to
manage. In India, the electorate exceeds 670 million in about 700000 polling stations spread
across the country which has varying geographic and climatic zones. Many polling stations
are located in, the deserts of the Rajasthan, the snow-clad mountains in the Himalayas, and
in randomly populated islands in the Indian Ocean. Hence, in a large and diverse country
like India, finding a period when elections can be held throughout the country is difficult.
The EC has to take into account the weather, the agricultural cycle, exam schedules and
religious festivals and public holidays. The commission has to ensure peaceful polling,
prevent booth capturing and violence, check expenditure of candidates, deal with petitions
during the election, all of which require a vast number of paramilitary forces who are moved
from one part of the country to another. There is also the question of what happens to
simultaneous polls if a ruling party or coalition loses the confidence of an assembly before
the five-year term of its government has ended. Will there then be an extended period of
president’s rule, to ensure synchronicity with the election calendar?
2. Diversity in Election Results:
In India, regions with diverse cultures and languages have co-existed on the Indian sub-
continent from historic periods. In the colonial period, the rise of regional consciousness
based on movements was witnessed that provided regions an identity of their own. This
eventually converted into the demand for linguistic states, post-independence. Today, these
states have strong parties which are able to maintain control over their home turf and also
formed alliances in national coalitions. Regional parties got only 11% of the total votes cast
in the 1984 national election. And by 2009 this rose to 28.4%. In 2014, it was 27.6%. The BJP
in the 2014 elections could gain only 31% of popular votes. As parliamentary majorities are
manufactured in the states, it is worth asking whether there would be stability in newly
formed governments in Simultaneous elections as well.
Current Affairs February 2017
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