Major News and Events of 05 March 2016
What Happened on 05 March 2016
Jitu Rai wins ISSF World Cup in Men's 50m Pistol Event
Government show-causes, Monsanto threatens to Leave India
Karnataka HC issues Notice on Vijay Mallya's Arrest in Loan Default Case
Defence Minister talks tough on Indo-US Joint Patrolling, Vouches for Smarter and Leaner Military
PM Modi asks FM Jaitley to reconsider decision to Impose EPF Withdrawal Tax
JNUSU President Kanhaiya Kumar gave a fiery speech in the JNU campus after he was released from Tihar Jail on conditional bail for 6 months. He clarified in a press meet that by “Azaadi” he didn’t mean freedom from India but from poverty and oppression within the country (through constitutional means). He called Hyderabad University’s late Rohith Vemula his role model and not Afzal Guru. Parliamentary Affairs Minister Venkaiah Naidu asked Kanhaiya to study or join politics.
Indian shooter Jitu Rai won gold in men's 50m Pistol event at International Shooting Sport Federation (ISSF) World Cup for Rifle and Pistol, played in Bangkok. Rai defeated Olympic champion Pang Wei of China. While India’s Jitu rai scored 191.3, Pang Wei was successful in accumulating 186.5. Bronze medal in the event was won by China’s Wang Zhiwei, who scored 165.8 in the final round. Men’s 10m Air Pistol and 50m Prone events will be played today.
Science and Technology
After Union Government (Department of Industrial Policy & Promotion) issued show-cause notice to the trans-national behemoth Monsanto for revoking patent rights on a genetically modified BT Cotton variant (Bollgard II) two days back on the basis of complaints of declining resistance against bollworm, Monsanto India threatened to pull out of India. DIPP officials said that the show-cause notice was issued to Mahyco Monsanto Biotech (India) Ltd. on the basis of agriculture ministry’s recommendations, after Bharatiya Janata Kisan Morcha’s representation to the ministry.
Karnataka High Court (Justice AS Bopanna) ordered issue of notice, seeking Vijay Mallya’s arrest as well as impounding of passport on loan default case. The notice will be served to Mallya, now defunct Kingfisher Airlines, and 9 others. SBI counsel said that they also petitioned HC to force disclosure of Mallya and his family’s properties. HC’s decision comes even when Debt Recovery Tribunal (DRT) has reserved its order on SBI-led consortium plea of attaching $75-million severance package from Diagio to Mallya. DRT’s ruling is expected on Monday.
Defence Minister Manohar Parrikar has made it clear that India only performs joint exercises and not patrolling. Parrikar’s response comes after US Admiral Harry Harris’s statement regarding steaming together of American and Indian Navy vessels throughout Indo-Asia-Pacific waters in the near future. Defence Minister also vouched for a leaner and smarter military and asked military to “cut the flab”. Parrikar said steps such as training rationalization including use of simulators in training can save defence budget. Minister called himself tough negotiator and said that he’s trying to save money for the defence on Rafale fighter jet deal.
After Finance Minister Arun Jaitley proposed taxing 60 per cent corpus of Employees Provident Fund (EPF) at the time of withdrawal, Prime Minister Narendra Modi has asked FM to reconsider the amendments on EPF. Reports say that Jaitley is likely to restore some tax benefits on EPF and that may happen as early as Tuesday. Sources say FM may announce the exemptions while replying to budget on House floor. While Congress called it “victory for the common man”, BJP lauded PM’s initiative.