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Daily Current Affairs (27th December - 2016)

National

Polavaram project gets Central funds

  • The Centre released Rs.1,981.54 crore, through the National Bank for Agricultural and Rural Development (Nabard), for Andhra Pradesh’s ambitious Rs.16,000-crore Polavaram irrigation project along the Godavari river.
  • He was speaking at an event attended by Andhra Pradesh Chief Minister Chandrababu Naidu, Union Water Resources Minister Uma Bharti, where funding was also disbursed for 99 irrigation projects in Gujarat and Maharashtra under the Long Term Irrigation Fund announced in Budget 2016-17.
  • Stating that the people of Andhra Pradesh had been nursing a feeling of economic discrimination and unfair treatment since the division of the State, Mr. Jaitley said it was due to the BJP’s efforts that the UPA government made some commitments, though without any financial allocation.

http://www.iasplanner.com/civilservices/images/Krishna-Water-Disputes.jpgKrishna water supply suspended again

  • For the third time since October, Krishna water supply to the city has been suspended.
  • According to WRD officials, water discharge into the 152-km- long Kandaleru Poondi canal was suspended last week due to Cyclone Vardah in accordance with the guidelines.
  • Krishna water flow into the KP canal dropped twice in October and early November for a few days as discharge from Kandaleru reservoir was reduced to prevent illegal drawal of water.
  • Chennai Metrowater supplies 800-810 million litres a day through pipeline and tankers. The water agency is also planning to hire agricultural wells as a last resort to augment the water supply.
International

http://www.iasplanner.com/civilservices/images/China.jpgChina to levy environment tax to fight pollution

  • Battling recurring pollution enveloping its cities, China has passed a new law to levy environment tax on polluters, specially on heavy industries.
  • carbon dioxide, one of the major contributors to global warming, is not included in the levying list.
  • The law, to enter into force on January 1, 2018, will be key to fighting pollution, Wang Jianfan, director of the Ministry of Finance tax policy department said.
  • China has collected a “pollutant discharge fee”, since 1979.
  • In 2015, it collected 17.3 billion yuan (about $2.5 billion) from some 280,000 businesses, Wang said.
Economy

India needs lower taxes, higher compliance: Jaitley

  • Union Finance Minister Arun Jaitley said India needs lower taxes to compete globally and that voluntary tax compliance by citizens should be encouraged by a friendly administration.
  • We have lived through the last seven decades in India under the impression that if avoidance could be done of government revenue, then there was nothing immoral about this. That was considered commercial smartness.

http://www.iasplanner.com/civilservices/images/AXE-TAX.jpg

  • According to the Minister, “extraordinarily high taxation rates in the past” had encouraged people to evade taxes. “What you need is lower level of taxation, to provide services more competitive in nature.
  • Competition is not domestic, it is global. This is one important change you will witness while you will be in service.