Current Affairs 10th July 2019

Current Affairs 10th July 2019 - Important Points

• Padma Shri awardees to get 10k monthly allowance in Odisha finallised on - 8th July 2019
• Titan shares sink 12%, BSE Sensex slumped 207 points  for  - April-June quarter
• Gully Boy’ wins NETPAC Award for Best Asian Film at - BIFAN
• Parliament adopts resolution levying 200% duty on all goods from -  Pakistan
• Rahul Dravid appointed as Head of Cricket at -NCA
  Current Affairs 10th July 2019 - Details

Padma Shri awardees to get 10k monthly allowance in Odisha finallised on - 8th July 2019

Odisha government on July 8th, 2019 finalised to issue Rupees 10000/month to Padma Shri award winners of the state suffering financial crisis. CM Naveen Patnaik sanctioned this proposal made by the state Culture department.
4 Padma Shri winners of the state including Haladhar Nag, Daitari Naik, Kamala Pujari and Jitendra Haripal, were in the news for their poor financial problems. Patnaik had earlier asked the Culture department to examine the economic condition of Padma Shri award winners of the state who are facing financial crisis.
Important Highlights

• 75 years old tribal farmer Daitari Naik of Talabaitarani village in Keonojhar district, who was
  awarded the Padma Shri award in 2018 for digging a 3 kms long canal via a mountain in Odisha,
  had openly declared to return the award as he was not given work by the villagers after getting the
  award as people think it is below his dignity to work for them, Naik had some time ago told
  reporters.
• Likewise, the financial conditions of Haladhar Nag, Jitendra Haripal and Kamala Pujari were also
  discussed in the media.
• Sum of 84 people from the state have so far been honoured with Padma Sri Award of whom 45
  have decreased. Of the remaining 39 individuals, financial condition of some is precarious.

Titan shares sink 12%, BSE Sensex slumped 207 points  for  - April-June quarter

Titan shares slumped around 13 percent on BSE just following the organisation declared lower revenue growth for the April-June quarter. Titan Company Ltd reported a lowest expected growth in jewellery business owing to a threatening macro-economic environment with consumption taking a hit. Bombay Stock Exchange Sensex cracked more than 800 points yesterday while slumped 207 points today and National Stock Exchange Nifty 50 traded about, 11500, down 0.5%.
It dragged by losses in HDFC twins, LandT and Reliance India Ltd stocks, amid heavy sell-off in international equities. The Bombay Stock Exchange Sensex fell 817.48 points to 38695.91 in trade headed by Bajaj Finserv as biggest loser among Bajaj Finance, Oil and Natural Gas Commission, NTPC, Hero Motocorp, Indian Oil Corporation, Indiabulls Housing Finance, Maruti, LandT, Grasim Industries and State Bank of India which dropped 4-8%. Likewise, the broader Nifty dropped too more than 271 points to 11539.75.
Reasons behind Sensex crash

• Budget proposal to upsurge minimum public stakeholding of listed companies to 35% from 25%
  surprised market sentiment. Besides, the Budget proposed a 20% tax in case on buy-backs, which
  may dry-up share repurchases in the market.
• Asian markets opened expressively lower as hopes of steep cuts in interest rates by the United
  States Federal Reserve faded following the world's largest economy posted better than anticipated
  jobs information.
• According to the information Shanghai Composite Index plunged 2.58%, Hang Seng 1.54%,
  Nikkei 0.98% and Kospi tumbled 2.20%.
• United States Jobs information dragged emerging markets currencies against dollar.
• If the budget proposals are to be executed in the coming 18 months or so, market might witness a large amount of offloading, which might occur.

Rahul Dravid appointed as Head of Cricket at -NCA

BCCI declared that former Indian captain Rahul Dravid was designated as Head of Cricket at the
National Cricket Academy. Rahul Dravid was predictable to take over as National Cricket
Academy head from July 1st but his job at the India Cements resulted the delay.
The Committee of Administrators asked Rahul Dravid to surrender his position as vice-president of
India Cements/be on leave until he finishes his tenure. India Cements then sent him on leave to
avoid conflict of interest.
Rahul Dravid as NCA head

• BCCI announcement stated that Rahul Dravid will supervise all cricket related activities at National
  Cricket Academy and will be involved in mentoring, training and inspiring players, coaches and
  supporting staff at the National Cricket Academy.
• Rahul Dravid will also work with the National Men’s and Women’s Head Coaches and Cricket Coaches for India Developmental teams, counting India-A, India Under-19, India Under-23 teams, in the finding of important training and development objectives.
• He will also be accountable for monitoring development against these aims for the developmental
  teams and provide essential inputs on the same to the Senior Men’s and Women’s Head Coaches.
  The BCCI did not mentioned the tenure of appointment for Dravid.

Parliament adopts resolution levying 200% duty on all goods from -  Pakistan

The Parliament of India has accepted a statutory resolution for levying 200 percent duty on all
goods exported/originating in Pakistan. The 2 statutory resolutions were initiated by Anurag
Thakur, Minister of State for Finance on behalf of Union Minister of Finance Smt. Nirmala
Sitharaman and both were accepted by voice vote.
Important Highlights

• India had informed about levying of basic custom duty to 200 percent on all goods exported from
  Pakistan with effect from 16th February 2019. In this regard both  Lok Sabha  and Rajya Sabha
  agreed the amendment in 1st schedule of Customs Tariff Act (CTA), 1975.
• The 1st resolution sought to support February 2019 notification to insert new tariff item 9806 00 00 under Chapter 98 of 1st Schedule of Customs Tariff Act.
• Besides, the statutory resolution the Rajya Sabha approved the initiative to upsurge basic custom
  duty on lentils, boric acid and diagnostic and laboratory reagents.
• Custom duty on lentils has been augmented from 40 percent to 50 percent, on diagnostic items from 20 percent to 30 percent and on boric acid it has been increased from 17.5 percent to 27.5 percent.

Gully Boy’ wins NETPAC Award for Best Asian Film at - BIFAN

Indian film ‘Gully Boy’ was felicitated with The Network for the Promotion of Asian Cinema Award
for Best Asian Film at 23rd Bucheon International Fantastic Film Festival in South Korea.

Important Highlights

• The film directed by Zoya Akhtar, rotates around the underground rap music movement in India and
  was released on 14th February 2019.
• It is stimulated by the lives of Mumbai street rappers Vivian Fernandes (aka Divine) and Naved
  Shaikh (aka Naezy).
• It will also be screened at 2019 Indian Film Festival of Melbourne in Australia.
• Other than bagging award at Bucheon International Fantastic Film Festival in South Korea, Zoya Akhtar freshly joined the list of new members of Academy of Motion Picture Arts and Sciences that
  organises yearly Oscar awards.
  More about BIFAN
• It was initiated in 1997 with particular consideration to Asian cinema from East Asia and Southeast
  Asia.
• It is an International film festival which is organised yearly in July in Bucheon, South Korea.
  More about NETPAC Award
• It is bestowed at select international film festivals to encourage Asian cinema by highlighting
  exceptional films as well as discovering new capacities.
• It is presented to the best Asian feature film by a jury from NETPAC. The Network for the
  Promotion of Asian Cinema Jury Committee, comprised of Network for the Promotion of Asian
  Cinema members and film professionals, select best Asian Film from World Fantastic Blue section
  that features newer genres and diversity of stories including comedy, fantasy and drama.
• It is a pan-Asian film cultural organization of 29-member nations which includes critics, filmmakers,
  distributors and exhibitors, festival organizers and curators, and film educators.