12 Feb 2017 – Daily Current Affairs

12th sss

NATIONAL

Book Released: ‘Veerappan, Chasing the Brigand

  • New book was released named ‘Veerappan, Chasing the Brigand’.
  • It is authored by KV Kumar.
  • It was released on 8th February 2017.
  • Home Minister R Singh released this book.
  • Kumar is Sr. Security Advisor at the Home Affairs Ministry.
  • It is a narrative of the author’s life event.
  • He headed the TN STF (Special Task Force) in 2004.
  • This Task Force planned & executed the encounter of Veerappan.
  • Book accounts the rise & fall of Veerappan.
  • He was considered most feared forest brigand on India.
  • It narrates various events that influenced Veerappan’s life.
  • He was a small-time sandalwood smuggler & poacher.
  • He rose to brutal fugitive holding 3 states for 2 decades.
  • It also describes the ruthless killings & high-profile kidnappings.

BUSINESS AND ECONOMY

CBDT signed 4 UAPAs (Unilateral Advance Pricing Agreements)

  • CBDT signed 4 UAPAs (Unilateral Advance Pricing Agreements).
  • It was signed on 6th February 2017.
  • It was as part of ‘Advanced Pricing Agreement Scheme’.
  • Various international transactions were covered in this.
  • 4 UAPAs were in manufacturing, finance & IT sectors.
  • With this, there are total 130 APAs entering CBDT.
  • These include 122 Unilateral & eight bilateral APAs.
  • Transfer pricing means setting goods & service price.
  • These are sold among related-legal entities within enterprise.
  • This mechanism is frequently misused by MNCs.
  • Advance Pricing reduces the misuse of Transfer Pricing.
  • It can be unilateral, bilateral or multilateral.

NATIONAL

Committee for faster completion of Sagarmala Project formed

  • Committee for faster completion of Sagarmala Project formed.
  • It is a 33 members committee.
  • The Sagarmala Project is in Andhra Pradesh.
  • Committee will be headed by Chief Minister Chandrababu Naidu.
  • It will be overseeing this entire project.
  • All concerned departments will be brought together.
  • Their work will be reviewed on a daily basis.
  • This will help in timely project completion.
  • First meeting of the committee was held in 8th February 2017.
  • Inland waterway development was emphasized in meeting.
  • Sourcing raw materials at reasonable rate was also highlighted.
  • Every department will have nodal officer for smooth work.
  • Officers were urged for creating action plans & following them.

INTERNATIONAL

India placed 43rd at 5th Annual International-IP Index

  • India placed 43rd at 5th Annual International-IP Index.
  • It is of the USCC (US Chamber of Commerce).
  • Total nations taken in this ranking were 45.
  • These 45 nations represent 90% of global GDP.
  • The index was released on 8th February 2017.
  • The 2017 Index was named ‘The Roots of Innovation’.
  • India ranked just above Venezuela & Pakistan.
  • United States was placed at 1st position in this index.
  • Others at top ranks were UK, Japan & European Union.
  • India was ranked 37th out of total 38 nations in 2016.
  • India’s IP framework is fundamentally weak.
  • Computer-related inventions faced patentability challenges.
  • Nations are ranked based on various parameters.
  • Some are trademarks, copyrights, patents etc.

OBITUARY

Nobel Prize winner Peter Mansfield died

  • Peter Mansfield, Nobel laureate passed away.
  • He died on 8th February 2017 at age 83.
  • He received Nobel Prize in 2003.
  • It was for Physiology/Medicine for developing MRI.
  • MRI is ‘Magnetic Resonance Imaging’.
  • Peter shared his Nobel Prize with P Lauterbur.
  • Peter was physicist & professor at Nottingham University.
  • He was born in London in 1933

12 February 2017 – Daily Current Affairs Quiz

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