1 June 2016 - Important Current Affair Today PDF

All Important current affair for today that can be asked by examiners in current GK questions to
check how informed you are are listed below. This is a sincere attempt by ExamPariksha team to
cover all important topics to help our readers in interviews, exams or for staying up to date about
general awareness issues.

National News Important Current Affair Updates – 1 June

2016
ExamPariksha publishes relevant fact based daily Current Affairs to cover all important happening
and developments in the National sphere in this section.

☀The fire at the Central Ammunition Depot in Pulgaon, Maharashtra has been completely

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doused and situation brought under control. The disaster has claimed 16 lives including two Army
officers and left 17 persons injured.

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☀ Admiral Sunil Lanba takes charge as the 23rd Chief of the Naval Staff. He replaced Admiral R
K Dhowan who has retired. The Admiral is a recipient of Param Vishist Seva Medal and Ati
Vishist Seva Medal for meritorious service and is also the Honorary Aide-de-Camp to the

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President of India.

☀ According to a report, in the last 17 months alone, 2,234 persons across India have been
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infected with human immunodeficiency virus (HIV) while getting blood transfusions. The
data was revealed by National AIDS Control Organization (NACO) in response to a Right to
Information query.
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In India, NACO has been primarily responsible for ensuring provision of safe blood.
According to law, it is mandatory to screen donors/donated blood for transmissible
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infections – HIV, HBV and hepatitis C, malaria and syphilis.

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☀ The India-Morocco Chamber of Commerce and Industry (IMCCI) was inaugurated by Vice
President Mohammad Hamid Ansari and Moroccan Prime Minister Abdelilah Benkirane in Rabat.
This is a new initiative by the two countries to strengthen their relations in trade and investment.
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The motto is, “Shake hands, strengthen ties, go with IMCCI.”

☀ The Appointments Committee of the Cabinet has approved the appointment of Ashok Lavasa as
the Finance Secretary. He replaces Rajan Watal, who has been appointed as the Principal Advisor
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to NITI Aayog.

☀ All Gram panchayats in the country will now have WiFi connectivity by October 2018 under
the Bharat Net programme. Under this programme, connectivity will be provided using optical
fibres and radio satellites.

International Important Current Affair Updates – 1 June

2016
Questions about International Relations (IR) are often asked in interviews, written exams conducted
by various recruiters. The following international news has important daily current affairs which you
must know as an aspirant for exams conducted by UPSC and State PSCs.

☀ Oscar-winning Indian musician AR Rahman has been conferred the Japan’s Fukuoka Grand
Prize for 2016. Rahman was honoured as “a global film music composer”.

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 1 June 2016 - Important Current Affair Today PDF

The annual award was established by Fukuoka City, Japan, in 1990.

Aims to honour the outstanding work of individuals, groups and organisations working to
preserve and promote the unique and diverse culture of Asia.
Filipino historian Ambeth Ocampo won the Fukuoka Academic Prize.
Pakistan Architect Yasmeen Lari won the prize in the Arts and Culture category. Yasmeen
Lari is the first woman architect in Pakistan.

☀ China has successfully launched a new civilian high-resolution mapping satellite ( Ziyuan
III 02) along with two other foreign satellites, on the back of a Long March 4B rocket. It was the
228th flight mission by a Long March carrier rocket.

The Ziyuan III 02 satellite will be used for land resource surveys, natural disaster prevention,
agricultural development, water resource management and urban planning, among others

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applications.
It is the second satellite in the remote-sensing mapping system which China plans to build by
2030.

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☀ Switzerland will get the world’s longest and deepest rail tunnel, running under the Swiss Alps.
The 57-kilometer long Gotthard Base Tunnel will connect northern and southern Europe. Its

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full service will begin in December. This tunnel was built in 17 years by 2,400 workers, at a cost
of over 12 billion dollars.
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In Switzerland, the Gotthard base tunnel will hopefully also shift alpine traffic from road to
rail and reduce CO2 emissions, thus helping to protect the ecosystem.
It overtakes Japan’s Seikan tunnel, which measures 53.9 kilometers, as the longest rail
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tunnel in the world.

Economics Important Current Affairs News Today – 1 June

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2016
The following economics current news update has all important economy news for exams. These will
also help in developing a better understanding of Economy.
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☀ The finance ministry has notified that the equalisation levy (popularly known as Google tax)
introduced in this years budget. It will come into force from June 1 and will apply to payments for
online advertisements made by Indian business entities to non-residents (such as Google,
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Yahoo, Twitter, Facebook) where the aggregate payment in a financial year exceeds Rs 1 lakh.

What is Google tax? From June 1, an equalisation levy of 6% will have to be deducted by a
business entity in India for payments exceeding Rs 1 lakh to a non-resident service provider
for specified services.
Who is the Target? The Google tax is aimed at online digital portals like Alphabet Inc.,
Facebook Inc. and Twitter Inc. that get significant online advertisement revenues from India
Implications of Google Tax? This levy has been criticised, because the foreign entity will not
get a foreign tax credit for such deduction in its home country. Also, since the tax is already
deducted at source on the payments made to the foreign entity, the imposition of an
equalisation levy is being viewed as double taxation.

☀ The Direct Tax Dispute Resolution Scheme, which was announced in budget will take effect
from today.

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 1 June 2016 - Important Current Affair Today PDF

It seeks to resolve cases pending in various courts, tribunals, arbitrations or under the
Bilateral Investment Protection Agreement (BIPA).
The scheme provides a settlement opportunity of cases emanating from retrospective
amendment of tax laws, by asking companies to pay the basic tax demand and get waiver
on interest and penalty.
What is benefit of Direct Tax Dispute Resolution Scheme? It is being viewed as a big
step towards tax reform. It would act as a relief for companies like Vodafone and Cairn,
which are facing multi-billion dollar tax liability following retrospective tax amendments
made in 2012.

☀ India has climbed to 41st slot on competitiveness ranking, moved up three spots from last
year on the IMD World Competitiveness Scoreboard, 2016. India’s improvement is in sharp contrast
to the sagging fortunes of other Asian countries.

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While Hong Kong has replaced the US as the world’s most competitive economy.
Switzerland, Singapore, Sweden, Denmark, Ireland, the Netherlands, Norway and Canada

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have got slots in the top 10.

☀ Government has achieved the fiscal deficit target of 3.9 per cent of the GDP in 2015-16

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and India continues to remain a bright spot in the world economy with solid macroeconomic
parameters. The government aims to further bring down the fiscal deficit – the gap between
expenditure and revenue – to 3.5 per cent.
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☀ The Income Declaration Scheme will open today and will remain in force till 30th of
September. The Scheme is part of Finance Act, 2016 and seeks to provide an opportunity to all
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persons who have not declared their income correctly in previous years to come forward and declare
undisclosed incomes. However, the scheme is not meant for those who have earned money through
corruption.
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☀ The Growth in the country’s eight core sectors surged to an over four-year high of 8.5 per
cent in April this year. Output has surged on the back of double-digit expansion in refinery
products output and electricity generation.
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1 June 2016 – Important Current Affair Updates Sports News

The following important current affairs about sports news are relevant from exam point of view.
Questions might appear in upcoming exams:
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☀ England batsman, Joe Root has grabbed the top honours at the 2016 CEAT Awards as he was
named International Cricketer of the Year as well as International Batsman of the Year.

While Ravichandran Ashwin was named as the International Bowler of the Year.
Kane Williamson won Test Player of the Year Award
Martin Guptill won ODI Player of the Year Award
Virat Kohli won T20 Player of the Year Award.

We hope this compilation was useful for going through today’s important current affair. Please
share your comments with us. Have a Good Day!

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