Daily GK Updates - 5th May, 2018

NATIONAL UPDATES:

1. GST Council simplifies return filing process : The GST Council in its 27th meeting decided on a new, simplifed method of filing GST returns, based on the recommendations of the Group of Ministers on IT simplification.All taxpayers excluding a few exceptions like composition dealer shall file one monthly return.

Goods & Services Tax Council is a constitutional body & is chaired by the Union Finance Minister

2. Chhattisgarh to recruit transgender in police : To promote gender equality, Chhattisgarh govt has decided to recruit transgender in the police force.

Chhattisgarh is the first state to recruit transgenders for police while Tamil Nadu is the first state to hire India’s first transgender police officer.In 2014, Supreme Court declared transgender people as the 3^rd gender & ruled that they have equal privilege over the fundamental rights.

3. New snake found in Western Ghats : The snake, currently observed only in the forests of the Anaikatty hills in Tamil Nadu’s Coimbatore district, has been named Uropeltis bhupathyi.The reptile belongs to a family of snakes found only in peninsular India and Sri Lanka.They are non-venomous, burrowing and mostly earthworm-eating.

INTERNATIONAL UPDATES:

1. California’s economy is world’s 5th biggest : California’s economy has surpassed that of the United Kingdom to become the world’s fifth largest economy.

California’s GDP of $2.7 trillion has overtaken the UK’s $2.6 trillion.

California’s economic output is now surpassed only by the total GDP of the United States, China, Japan and Germany.All economic sectors except agriculture contributed to California’s higher GDP.

2.A new nuclear reactor for space : NASA has developed a new kind of reactor to be used for space exploration missions.NASA’s Kilopower project works to build the kind of technology that could be used for an affordable fission nuclear power system so astronauts can have longer trips to planets.

3. World’s rarest ape on the edge of extinction : Tapanuli Orangutan – the rarest ape species on the planet – could lose its battle for survival, unless decisive steps are taken to rescue it.Fewer than 800 members of the species survive, and they are under assault from mega-projects, deforestation, road building, and poaching.

The ape survives only in areas with virtually no roads.

4. India, Sri lanka agree on information exchange : India & Sri Lanka have agreed on cooperation on exchange of information & other aspects to tackle smuggling of drugs in both countries.The decision was taken at the 3^rd bilateral meeting between India’s Narcotics Control Bureau & Sri Lanka’s Police Narcotics Bureau.Use of sea route to smuggle drugs & sharing of best practices & training needs were also a part of the discussion.

5. Informal meeting of SAARC FMs held in Manila : The twelfth informal meeting of SAARC Finance Ministers was held in Manila, on the sidelines of the 51st Annual Meeting of Asian Development Bank (ADB).The meeting was chaired by the Finance Minister of Nepal Yuba Raj Khatiwada.The Finance Ministers/Heads of Delegation briefed the meeting about the current status of economic progress achieved by their countries.

6. No Nobel Prize in Literature this year : The Swedish Academy has postponed the 2018 Nobel Prize in Literature following sex-abuse allegations and other issues within its ranks that have tarnished the body’s reputation.The 2018 winner will be presented alongside the 2019 winner next year.It is the first time since wartime 1943 that the prestigious award will not be given.

OTHER UPDATES:

BUSINESS/ECONOMY:

1. RBI asks banks to share data with DRI :The Reserve Bank of India has asked banks authorised to deal in foreign exchange to share data with the Directorate of Revenue Intelligence (DRI).Under the new rules, in the case of inward remittances, the agency can seek information relating to a remittee’s details like name, address etc.In the case of outward remittances, the agency can seek information relating to a remitter’s detail.

SPORTS:

1. Saina returns to top 10 : Commonwealth gold medalist Saina Nehwal climbed up to return into the top-10 of the Badminton World Federation women’s singles rankings.Commonwealth mixed team gold medalist Kidambi Srikanth climbed from fifth to the third spot, while HS Prannoy jumped to a career-best eighth spot. Meanwhile, Rio Olympic silver medalist PV Sindhu retained the third spot.