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The Weekly Update consisting of Important News, Events, Facts and Achievements. Browse Regularly for Strengthening your General Knowledge, and staying abreast with what is happening around you. 

National Political News:

1. India insists on Russia for delivery of 5th generation fighter T-50 in 2016. T-50 shall be a replacement for ageing squadrons of fighter aircrafts MIG21S and MIG27S. T-50 is considered ideal for India’s defense capabilities and for a strike deep inside Chinese territory.

2. Rahul Gandhi Congress Vice President has gone on a sabbatical to introspect during the budget session of parliament. A furore of sorts has been thus created by parties opposed to Congress.

3. RSS chief Mohan Bhagwat’s comment on Mother Teresa’s motive behind service was conversion to Christianity of the gullible. A hornets nest has been stirred by these remarks.

4. AAP government reduces power consumption charges in Delhi by half for a consumption of 400 units per month. Simultaneously 33 water buckets a day amounting to 20 KL in a month will be supplied free of cost to the consumers. Any power and water consumption above the free ceiling’s shall attract the full rate ab-initio.

International Political News:

1. 3 British teenaged girls, students of Bethnal Green Academy, London, have fled to Syria to join the ISIS ranks. The girls are 15 year olds Shamima Begum, Amina Abase and 16 years old Kaliza Sultana.

2. ISIS abducts 90 Christians in Syria.

3. Ceasefire in Ukraine continues to be uneasy. Pro Russian forces are amassing arms and men near Ukraine’s port city of Mariupol.

4. Former Maldivian President Mohd. Nasheed arrested on terrorism charges in Male, capital of Maldives. Nasheed had been denied bail and was publically dragged to court. Defence complains of trumped up charges of terrorism.

5. Two British ruling Conservative party MP’s caught in a sting operation in cash for access scam. British Prime minister David Cameroon confirmed a disciplinary inquiry into allegations.

6. Kurdish Militia belonging to Iraq have launched a big offensive against Islamic State (ISIS) in north east Syria, cutting off its supply lines from Iraq.

Business and Financial News:

1. Budget Session commenced on 23th Feb 2015.
The budget session has raised expectation of every Indian – common man, agriculturist, middle class, industrialist, investor infact all strata’s of society for an inclusive budget.
The railway budget presented in parliament by union railway minister Suresh Prabhu has spared the passenger class from any increase in fare. Freight charges have been increased on select commodities like cement, steel etc.
Railway budget is aimed at bringing in FDI for rail modernisation, better safety features, use of solar energy, and technical upgradation. The emphasis is on completion of projects in hand. The railways need Rs.1.8 lakh crores to complete 359 pending railway projects.
The Economic survey presented in parliament by minister of state for finance Jayant Sinha has forecasted a GDP growth figure of 8.1% to 8.5%, inflation at 5 to 5.5% and current a/c deficit at 1% of GDP for 2016. Indian stock Indices Sensex and Nifty had a bash and rose 473 and 160 points respectively after the presentation of the economic survey.
The union budget 2015 presented in parliament by finance minister Arun Jaitley had the following key features:-
(a) Rise in service tax from 12.36% to 14%. All services that is Telecom, Hotels, Courier, Transportation etc. will become expensive to that effect.
(b) FII’s/FDI are out of MATNET to boost investment in the Indian infrastructure and manufacturing sector.
(c) Wealth tax has been dispensed with but income tax on annual income of 1 crore rupee and above shall carry surcharge of 2%.
(d) New law on black money search, seizure and declaration.
(e) Corporate tax cut to 25% as all exemptions go.
(f) Direct tax benefit in the shape of medical insurance premium and other saving instruments set off increased.

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Science and Technology:

1. Scientific studies in United States show no appreciable relationship between consumption of dietary Cholesterol and Serum Cholesterol. Thus butter, eggs are back on the American dining table with vengeance.

Miscellaneous:

1. 87th Academy awards better known as Oscars were held in Los Angeles, U.S. More than the Oscar winners John Trovolta had the spot light on himself because of his outreaching action with actress Scarlett Johanasson and Idina Menzel.
Eddie Redmayne won the best actor award for his role in ‘The Theory of Everything’.
Julianne Moore won the best actress award for her role ‘Still Alice’.
Best picture award was won by comedy ‘Birdman’.

Sports:

1. Supreme court on 23rd Feb slammed BCCI chairman N. Srinivasan over his presiding of the recent BCCI board working committee. This was in the face of an adverse ruling by the Supreme court on conflict of interest in his company India Cement owning Chennai Super Kings in IPL.

2. India defeated S. Africa in and broke the jinx in Melbourne. India’s opening batsman Shikhar Dhawan scored 137 in India’s 307/7 in 50 overs. S. Africa could only score 177 all out in 40.2 overs. Superb Indian fielding was on display in the match resulting in S. African run outs.

3. In another World Cup match, England beat Scotland at Christchurch in New Zealand, marking England’s first win in the tournament.
England’s Moeen Ali scored 128 runs in their score of 303/8 in 50 overs. Scotland replied with 184 all out in 42.2 overs.

4. In a World Cup match between West Indies and Zimbabwe, West Indian Chris Gayle scores match winning 1st ever record creating double century of 215 runs of 147 balls. Chris Gayle used a Jalandhar made bat as do others likes Sachin Tendulkar and other Indian players.

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