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Daily Current Affairs – 2 Sep 2020 : GKToday Updates

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Daily Current Affairs – 2 Sep 2020 : GKToday Updates

1. PM Modi to deliver key note address at 3rd USISPF leadership summit tomorrow

  • PM Modi will deliver key note address at the 3rd leadership summit of US India Strategic and Partnership Forum (USISPF) tomorrow.
  • The summit titled ‘US-India Week: Navigating New Challenges’ highlights areas of Indo-US bilateral cooperation including in trade and investment, strategic energy ties, collaboration in fintech, healthcare, technology and India’s position in global supply chains.
  • US Vice President Mike Pence, External Affairs Minister S Jaishankar and Commerce and Industry Minister Piyush Goyal have also addressed the summit earlier this week.
  • The summit is being attended by top corporate leaders and government officials.

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The US-India Strategic Partnership Forum (USISPF) is a non-profit organization, with the primary objective of strengthening the U.S.-India bilateral and strategic partnership.


2. Defence Minister Rajnath Singh to embark on 3 day visit to Russia today

  • Defence Minister Rajnath Singh will leave for Moscow today on a three day visit to Russia to attend the Shanghai Cooperation Organization (SCO) Defence Ministers’ meet.
  • Mr. Singh is visiting Moscow on the invitation of Russian Defence Minister General Shergei Shoigu and will also take part in the meeting of Collective Security Treaty Organisation (CSTO) and Commonwealth of Independent States (CIS).
  • During his visit, Defence Minister is also scheduled to meet his Russian counterpart to discuss bilateral cooperation, issues of mutual interest and the visit marks one of many high political level interactions between the two countries.

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The SCO currently comprises eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan), four Observer States interested in acceding to full membership (Afghanistan, Belarus, Iran, and Mongolia).


3. SC gives telecom companies 10 years to pay AGR dues to govt

  • Supreme Court has given telecom companies 10 years to clear AGR (adjusted gross revenue) dues of around 1.43 lakh crore rupees to the Centre.
  • A bench of Justices Arun Mishra, S Abdul Nazeer and MR Shah agreed with the Centre’s plea that staggered payment option be given to bail out the companies.
  • The court made it clear that the companies have to pay the dues without further review as it granted the firms a 10-year window.
  • The apex court set a deadline of March 31, 2031 for the companies to pay the amount in annual instalments. It directed the companies to pay the first instalment of 10% of dues by March 31, 2021.


4. Dept. of Fertilizers to observe Swachhta Pakhwada from 1st to 15th September

  • The Department of Fertilizers is observing Swachhta Pakhwada from 1st to 15th September.
  • All Public Sector Undertakings and other Organisations under the Department are participating in the Swachhta Abhiyan.
  • Chemicals and Fertilizers Minister D V Sadananda Gowda said that Swachhta Pakhwada has gained even greater importance this year in view of the outbreak of COVID-19 pandemic.
  • He said that the efforts of the entire fertilizer industry, dealers and traders will yield visible positive results in the country’s endeavour for cleanliness.


5. Rajiv Kumar takes charge as new Election Commissioner

  • Rajeev Kumar assumed charge as the new Election Commissioner of India on September 1, 2020.
  • He has formally joined the Election Commission of India and will be working alongside Chief Election Commissioner Sunil Arora and Election Commissioner Sushil Chandra.
  • Kumar was appointed as the new Election Commissioner by President Ram Nath Kovind on August 21, 2020.
  • The former finance secretary succeeds Ashok Lavasa, who had resigned earlier. His appointment comes at a time when the election commission is preparing to hold the Bihar assembly polls amid COVID-19 pandemic.

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Kumar will serve a five-year term as Election Commissioner. He is scheduled to retire from the post in 2025. Hence, it is likely that he will preside over the 2024 Lok Sabha Elections.


6. Gross GST revenue collection in August stands at Rs 86,449 crore

  • The gross GST revenue collected in August is Rs 86,449 crore. Out of this, CGST is Rs 15,906 crore, SGST is Rs 21,064 crore, and IGST is Rs 42,264 crore.
  • The total revenue earned by Central Government and the State Governments after regular settlement in August is Rs 34,122 crore for CGST and Rs 35,714 crore for the SGST.
  • The revenue for the month is 88 per cent of the GST revenue in the same month last year.
  • During the month, the revenue from import of goods was 77 percent and the revenue from domestic transactions was 92 percent of the revenue from these sources during the same month last year.

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The taxpayers with turnover less than Rs 5 crore will continue to enjoy relaxation in filing of returns till September.