5th August 2018 Current Affairs

Contents

29^th GST Council Meeting: Sub Committee formed under MoS Finance Shiv Pratap Shukhla to address MSME woes-

On 5^th August 2018, the GST Council in its 29^th meeting has decided to create a sub-committee headed by MoS Finance Shiv Pratap Shukhla for the Micro, Small, and Medium Enterprise (MSME) Sector.
The main objective of the meeting is to address the issues, challenges, and concerns of Micro, Small, and Medium Enterprise.
The Committee consists of Manish Sisodia, Sushil Modi, Himanta Biswa Sarma, Thomas Issac, Manpreet Badal.
It has also decided to run a pilot to provide cashback for digital transactions.
Capped at Rs 100/-, RuPay Debit and UPI Based Transaction will get a cashback of 20% of the GST Paid.
For this initiative, the GST has planned to create a software and invited states to implement it.

On 5^th August 2018, as per the Bloomberg’s Data Japan is the world’s second largest stock market.
It has overthrown China as its total equity is $6.17 Trillion and that of China’s is $6.09 Trillion.
The United States is the world’s biggest market for stocks, with a total worth of just over $31 Trillion.
Earlier China overtook Japan in 2014.

On 5^th August 2018, the Central Government announced that PM Modi will launch India Posts Payments Bank on 21^st August 2018 with a focus on the rural areas.
Around 648 branches will be launched across the country in every district.
Government will link 1.55 Lakh Posts Office Branches with IPPB Services.
This will create the country’s largest banking network.

Chinese Scientists have created the first single chromosome yeast without affecting the majority of its functions.
Brewer’s Yeast consists of 16 Chromosomes. The Chinese Scientists have created a single chromosome yeast which has almost all the genetic material of Brewer’s Yeast.
Molecular Biologists at the Centre for Excellence in Molecular Plant Sciences, China used CRISPER- Cas9 Genome- Editing to develop a single- chromosome yeast strain.
A paper regarding this has been published in Journal Nature. This finding can help in advancing research related to aging and diseases in humans.
It could also lead to the creation of new-man made species in future.

Gaganjeet Bhullar won the title at the Fiji International with a six under 66 for a four day total of 14-under 274.
Australia’s Anthony Quayle was ranked second position and South Africa’s Ernie Els was ranked third position.
This is Gaganjeet Bhullar’s 10^th Overall Title. Now he has become the most successful Indian Golf Player on Asian Tour.
He is the First Indian to win on Australian Tour. He is also the first Indian to win European Tour following Atwal, Jeev Milkha Singh, SSP Chawrasia, and Anirban Lahri.