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Daily Current Events by Civils360 November 23, 2017

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Women Empowerment: Read Here

  • Union Cabinet on Wednesday gave approval for setting up of the Pradhan Mantri Mahila Shakti Kendra (PMMSK), which is a one-stop convergence support service for empowering rural women with opportunities for skill development, employment, digital literacy, health and nutrition.
  • It is aimed at bringing gender empowerment and also to justify the governments’ promise of Sabka Saath, Sabka Vikas.
  • At the national level, the Mahila Shakti Kendra will provide domain-based knowledge support while at the state level, it will cater to the State Resource Centre for Women that will provide technical support to the respective government on issues related to women.

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Indo-Srilanka: Read Here

  • Srilankan PM will meet Indian PM today.The meeting assumes significance since India has expressed interest in investing in Mattala airport in Hambantota district.It can act as an effective counter to China’s string of pearls in the Hambantota port.
  • India had proposed to “operate, manage, maintain and develop” the airport through a joint venture, with India holding 70 percent of the equity for 40 years. The Indian offer had come within weeks of a Sri Lanka-China agreement on development of Hambantota port.
  • Two Prime Ministers are also expected to discuss the development of the Trincomalee port, a petroleum refinery and other industries in the vicinity of the port.

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Tax Legislation: Read Here

  • The government is now focused on improving India’s direct tax regime. IT has constituted a task force to review the 56-year-old law and suggest a new law to replace it in consonance with the economic needs of the country.
  • The terms f reference for the task force includes a new legislation based on the international best practices, the direct tax system present in various countries etc.
  • The redrafting of archaic Income Tax law is expected to make it simpler and raise India’s low direct tax base.

Naga Insurgency: Read Here

  • Parliamentary Standing Committee on Home Affairs has asked Naga interlocutor to appear before it to explain the status of the Naga framework agreement that was signed in 2015.
  • He signed a framework agreement on behalf of the Union government with the National Socialist Council of Nagaland (Isak-Muivah) group to end the decades-old Naga insurgency.
  • The NSCN-IM has been fighting for ‘Greater Nagaland’ or Nagalim — it wants to extend Nagaland’s borders by including Naga-dominated areas but the states like Manipur, Arunachal Pradesh are not willing to concede their land.
  • The parliamentary panel has met to discuss the security situation in Northeast states and the Naga deal is a crucial aspect of it.

Fifteenth Finance Commission: Read Here

  • Cabinet approves set up of new finance commission which will decide the revenue devolution between Centre and States from 2020 till 2025.
  • The commission is set to be appointed at a time when the Centre-State fiscal relations have drastically changed, owing to the implementation of Goods and Services Tax.
  • The Fourteenth Finance Commission recommendations have a ten percent jump in States’ share of the central pool of taxes from 32% to 42%.

Prelims related fact

Brahmos missile: It is the world’s first supersonic cruise missile.Recently, Indian Air Force became the first air force in the world to have successfully fire air-launched 2.8 Mach surface attack missile of this category. Brahmos is developed as a joint venture between Russia and India. It operates on ‘fire and forget’ principle