Daily GK Update: 29th November, 2015 Important Current Affairs

Union Govt to roll out BSV norms from April 1, 2019
i. Union Government has decided to advance the date for implementation of Bharat Stage (BS) V and BS VI emission norms for four-wheelers in order to reduce vehicular air pollution from road transport sector. 
ii. As per advance dates,  BS V norms will be rolled out from 1st of April, 2019 and BS VI norms from 1st April, 2021. 
iii. In this regard draft notification was issued Union Ministry of Road Transport and Highways as per the Auto Fuel Policy, 2003. 

About Bharat stage (BS) norms 
  • Bharat stage (BS) norms are emission standards decided by the government to regulate the amount of air pollutants from vehicles. They were adopted in line with European regulation standard ‘Euro norms’ in 2000. 
  • So far, 4 states of Bharat stage (BS) norms have been issued by government. In each stage certain limit is specified on the released pollutants and in the succeeding higher stages, the BS norms reduces the limit of pollutant emission. 
  • Issued BS stages are:
  1. BS-I - Euro 1 - 2000 
  2. BS-II - Euro 2 - 2005 
  3. BS-III - Euro 3 - 2010 
  4. BS-IV - Euro 4 - 2015 (63 cities till 1 April 2015) 

India-Israel co-developed LRSAM misile successfully tested
i. Long Range Surface-to-Air Missile (LRSAM) co-developed by India and Israel was successfully test-fired for the first time from an Israeli Naval Platform. 
ii. Test: The trial test was undertaken by Israel Aerospace Industries (IAI) in the presence of Defence Research Development Organisation (DRDO) scientists. During the test the missile achieved the desired goal by hitting the incoming target. 

About Long Range Surface-to-Air Missile (LRSAM) 
  • LRSAM is also called Barak 8 missile in Israel which in Hebrew language means Lightning. 
  • Barak 8 is an advanced, long-range missile defence and air defence system. Its main features are long range, active radar seeker missile, vertical launch and multiple simultaneous engagements. 
  • For the LRSAM, DRDO has developed dual pulse propulsion system along with other safety arm mechanisms for Solid Propulsion system. 
  • The LRSAM programme consists of Missiles, Weapon Control System, MFSTAR (Radar), Vertical 
NHAI approves pilot project for developing greenbelts along National highway
i. National Highways Authorities of India (NHAI) has approved a pilot project for undertaking scientific studies on designing greenbelts along national highways. 
ii. Proposal in this regard was submitted by Nagpur based National Environmental Engineering Research Institute (NEERI). 

Key facts 
  • The pilot project will be implemented on a 5 km stretch on NH-7 (Varanasi to Kanyakumari) between Jam and Hinganghat in Nagpur region. 
  • Around 20,000 scientifically chosen species of trees are proposed to be planted on both sides of this stretch in multiple rows at an estimated cost of 11 crore 80 lakh rupees. The project will run for five years’ time span. During this period various experiments will be conducted in NEERI laboratory to record the impact of greenbelt development. 

CBDT signs 11 more Unilateral Advance Pricing Agreements
i. The Central Board of Direct Taxes (CBDT) has entered into 11 more unilateral Advance Pricing Agreements (APAs) with Indian subsidiaries of foreign companies operating in various segments of the economy. 
ii. Of the total eleven APAs, seven were having rollback provisions in them with maximum period of 9 years, while the other four are extension agreements for future five years i.e. till 2020. 
iii. With this, CBDT so far has entered into 31 APAs (30 unilateral and one bilateral) and is now aiming to finalise another 30 to 40 APAs in order to provide stability and confidence among the foreign enterprises operating in India. 

What is Advance Pricing Agreements (APAs) 
  • APA usually is signed between a taxpayer and the central tax authority (in case of India it is CBDT) for multiple years on an appropriating transfer pricing methodology. 
  • The APA Programme was introduced in 2012 as per the provisions of the Income Tax (IT) Act, 1961. It helps in determining the price and ensuing taxes on intra-group overseas transactions.

BBIN Friendship Motor Car Rally flagged off from Silchar
i. Bangladesh, Bhutan, India and Nepal (BBIN) Friendship Motor Car Rally was flagged off from Silchar, Assam. 
ii. The international rally aims at highlighting connectivity in the sub-region and seamless movements of vehicles across the borders in the 4 nations through implementation of BBIN Motor Vehicles Agreement (MVA). 

Key facts 
  • The Car Rally has been jointly organised by the Union Ministry of Road Transport & Highways, Kalinga Motor Sports Club (Odisha) in partnership with the counterpart clubs of the neighbouring countries. 
  • The 19-days rally will culminate at Kolkata (West Bengal) on December 2, 2015 next after covering the capitals of Indian states and neighbouring countries.

Sindhu seizes Macau Open title for third time
i. Sindhu produced a dominating game to notch up a 21-9 21-23 21-14 win against sixth seed Mitani in a women’s singles match.
iii. Two-time defending champion P. V. Sindhu completed a hat-trick of women’s singles title at the $ 120,000 Macau Open Grand Prix Gold after defeating Japan’s Minatsu Mitani in the finals here today.
iii. Sindhu produced a dominating game to notch up a 21-9 21-23 21-14 win against sixth seed Mitani in a women’s singles match that lasted an hour and six minutes here.


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