Daily Important News will speed up the preparation for the Civil Services Examination and it also plays a crucial role to grasp the current affairs topic comprehensively. Here we have covered most of the topics related to various categories including National, International, Sports, Science and Technology, and so on.
1. Office-cum-Residential Complex
– Prime Minister Narendra Modi will inaugurate the state-of-the-art office-cum-residential complex of Income Tax Appellate Tribunal (ITAT) at Cuttack on 11th November, 2020.
– During the event, Union Law Minister, Union Petroleum Minister, Chief Minister of Odisha, Chief Justice and Judges of Orissa High Court, along with other dignitaries would also be present.
– On this occasion, an e-Coffee Table Book on ITAT will also be released.
About ITAT
– Income Tax Appellate Tribunal, also known as ITAT, is an important statutory body in the field of direct taxes and its orders are accepted as final, on findings of fact.
– It is presently headed by Mr. Justice (Retd) P.P. Bhatt, formerly Judge of the High Court of Jharkhand and High Court of Gujarat.
– ITAT was the first Tribunal to be created on 25th January, 1941 and is also known as ‘Mother Tribunal’.
– It was started with three benches in 1941, at Delhi, Bombay and Calcutta and it has now grown to 63 Benches and two circuit benches spread across thirty cities of India.
– The Cuttack Bench of the ITAT was created and started functioning from 23rd May, 1970.
2. A-Sat Missile Model
– A model of Anti Satellite (A-SAT) Missile installed inside the DRDO Bhawan premises was unveiled by Defence Minister Rajnath Singh.
– ‘Mission Shakti’ was country’s first-ever Anti-Satellite (ASAT) Missile Test successfully conducted on 27th March 2019 from Dr AP J Abdul Kalam Island in Odisha, where a fast-moving Indian orbiting target satellite in Low Earth Orbit (LEO) was neutralised with pinpoint accuracy.
– The successful conduct of Mission Shakti made India the fourth nation in the world with the capability to defend its assets in outer space.
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3. 1st BRICS Finance Ministers and Central Bank Governors Meeting
– Union Minister for Finance & Corporate Affairs Nirmala Sitharaman participated in the 1st BRICS Finance Ministers and Central Bank Governors (FMCBG) meeting under the BRICS Russian Chairmanship.
– The agenda of the meeting included discussions on the outcomes of G20 Saudi Presidency in 2020, a digital platform to encourage infrastructure investments and expansion of the membership of the New Development Bank.
– G20 Debt Service Suspension Initiative ensured immediate support to address the liquidity needs of low-income countries.
– BRICS members have played an important role in ensuring that concerns of emerging economies are appropriately reflected in these initiatives.
– The BRICS Finance Ministers and Central Bank Governors also discussed expansion of the membership of the New Development Bank (NDB).
4. Four Years of Demonetisation
– Four year anniversary of demonetisation was marked on 8 November, 2020. It was when Rs 500 and Rs 1,000 notes were withdrawn from the system in 2016.
– Demonetisation is the act of stripping a currency unit of its status as legal tender.
5. Petition for Declaring ESA Unconstitutional
– A Kerala-based NGO for farmers has moved the Supreme Court (SC) to declare the draft notification on the Western Ghats Ecologically Sensitive Area (ESA) unconstitutional.
– It was not to implement the Madhav Gadgil and Kasturirangan committees’ reports on the conservation of the Western Ghats.
– In the draft notification, 123 agricultural villages in Kerala was declared as ESA converting the semi-urban villages in the region into forests with no facilities and roads. It will affect 22 lakh people and cripple the economy of Kerala.
– It also suggested that ESA in Kerala should be restricted to reserved forests and protected areas.
6. Armed clashes in Ethiopia’s Tigray
– A domestic conflict is going on in the country’s northern Tigray region. Ethiopia is on the brink of a civil war.
– Ethiopia’s federal system structure allows the country’s ten regions significant autonomy. These regions also have their own parliaments, their own security forces, and the right to a referendum for independent rule.
What is the impact on the Horn of Africa?
– Due to its proximity to Tigray. Eritrea may be hardest hit.
– If the violence and conflict spill outside Ethiopia’s borders, it may potentially destabilize the Horn of Africa region.
– In this region, the US and China have various strategic military bases and the closest being Djibouti. If these military bases were impacted then the disturbances may cause foreign powers to get militarily involved in the region and the conflict.
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