National Political
1. The Indian Parliament has been adjourned sine die, 2 days ahead of scheduled date as completion of legislative and financial business is there. Besides budget, the bankruptcy bill has been passed by both the houses that is the Lok Sabha and Rajya Sabha in this session.
2. Uttarakhand former CM and Leader of Congress legislative party Harish Rawat proves his majority in a floor test in the Uttarkhand Assembly. The President’s rule has been revoked there. The Supreme Court shall continue to hear the appeals against disqualification of MLA’s of Congress party by the Speaker who did not allow them to vote in the floor test.
3. UK government advises India to seek extradition of Vijay Mallya in the E.D – Money laundering case pertaining to Public Sector Bank loans as deportation proceedings are not maintainable because of his passport being cancelled. The CBI has move the Interpol for a red corner notice against him.
4. The pre poll cash seizure in TamilNadu after the model code came into effect for state legislative elections has crossed Rs. 100 crores, a record in state’s history. However Andhra Pradesh holds the record in 2014 Parliamentary elections of seizure of cash and material of over Rs. 140 crores.
5. The controversy raised by AAP – Kejriwal has been laid to rest as Finance Minister Jaitley and BJP President Amit Shah display PM Modi’s graduation and post-graduation degrees in a press conference.
6. The Malegaon blast case has taken a U-turn with NIA accusing the Maharashtra Anti-Terrorism Squad (ATS) of planting RDX traces on prime accused Col. Prasad Shri Kant Purohit a serving military intelligence officer. Sadhvi Pragya Thakur the fire brand Hindu leader and a few others have been discharged from the case a few weeks back.
International News
1. 3 multiple car bomb blasts shake up the Iraqi capital Baghdad including a Shia dominated market place killing at least 94. All bomb blasts claimed by the ISIS as their handiwork.
2. Bangladeshi extremist leader of Jamaat-e-Islami Motiur Rahman Nizami executed for war crimes of 1971 liberation war. Clashes erupt in Bangladesh as an aftermath of his execution.
3. Hilary Clinton the Democratic Party front runner for party nomination loses the West Virginia primary to Bernie Sanders. Clinton is still 144 delegates short of 2383 required for the nomination. Trump wins the West Virginia and Nebraska to take his delegate count to 1107 thereby being 130 short of the count of delegates required for Republican Party nomination.
4. The Brazilian senate votes to put on trial their President Dilma Rousseff being accused of corruption charges. She denies being involved in any fraud/corruption. Brazil’s Parliament can remove her from office and convict her by a 2/3rd majority. Rousseff is an economist and was a former member of a Marxist Guerrila Group.
5. UK Prime Minister David Cameron wants Britain to remain in EU as the Brexit referendum gains momentum.
6. Russia marks the World War 2 end,71stanniversary at Red Square, Moscow with a grand military parade attended by President Putin and other leaders of the erstwhile USSR.
7. US Defence establishment, the Pentagon claims that China is deploying increased number of troops on its borders with India and improving its nuclear force and strike capabilities.
8. US supports India as a member of Nuclear Suppliers Group.
Business News
1. India and Mauritius sign anagreement to tax capital gains accrued in P note transactions in India on shares of Indian Companies. 50% of the applicable rate of taxation will accrue to India after April 1, 2017. Full capital gains tax shall be chargeable after April 1, 2019. This treaty shall curb the abuse and round tripping of funds.
2. The Dollar index stands at 94 as diversion of funds has been there to emerging markets from advanced countries. The index stood at 98 in January this year when the emerging markets were in turmoil.
3. SEBI is to tighten the P notes (Participatory Notes) rules through which it is presumed that black money flows into the stock markets. SEBI shall make KYC (Know Your Client) norms mandatory for all P note participants. The Round tripping of money from various tax havens may be curbed by this move.
Science and Technology
1. A startup Labinapp, a 3D virtual Lab set up for school going children is simulating science experiments. The startup offers license based programs for students of class 9 to 12 in general science, physics, chemistry and biology.
2. Indian Space Research Organisation (ISRO) is processing an indigenously made reusable launch vehicle known as Technology Demonstrator (RLV-TD) with delta wings which could after the launch and flight be glided back on a virtual runway in Bay of Bengal. The first vehicle may disintegrate on impact with water, since it is not designed to float and the scientific purpose is to navigate it from a velocity 5 times that of sound on to the virtual runway.
Sports
1. Camelo Alvarez of Mexico retains his World Boxing Council middle weight belt by knocking out Britain’s Amir Khan in Los Angeles, US.
2. Soccer
The 10 most valuable soccer teams in the world in billion dollar terms are: Real Madrid – 3.6, Barcelona – 3.5, Manchester United – 3.3, Bayern Munich – 2.6, Arsenal – 2.0, Manchester City – 1.92, Chelsea – 1.66, Liverpool – 1.54, Juventus – 1.29 and Tottenham – 1.01.
Barcelona the defending champions win the La Liga Cup. Barca ended with 91 points against Real Madrid’s 90.
Bayern Munich beat Hanover 3-1 to win the German League title Bundesliga.
3. IPL Cricket League Matches:
• Hyderabad: Sunrisers Hyderabad beat Gujarat Lions.
• Bangalore: Royal Challengers Bangalore beat Rising Pune Supergiants.
• Mohali: Kings XI Punjab beat Delhi Daredevils.
• Mohali: Royal Challengers Bangalore beat Kings XI Punjab.
• Vizag: Sunrisers Hyderabad beat Pune Supergiants.
• Bangalore: Mumbai Indians beat Royal Challengers Bangalore.
• Hyderabad: Delhi Daredevils beat Sunrisers Hyderabad.
• Vizag: Kings XI Punjab beat Mumbai Indians.
• Bangalore: Royal Challengers Bangalore beat Gujarat Lions.
• Mohali: Sunrisers Hyderabad beat Kings XI Punjab.
