Daily Current Affairs 1 July 2017: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 1 July 2017. It includes all Major National, International, Business and Sports related current affairs of 1 July 2017. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 1 July 2017 Current affairs test.

National News

1. Mega Tax Reform GST Launched

  • President Pranab Mukherjee and Prime Minister Narendra Modi pressed a button in parliament’s Central Hall at midnight to launch the Goods and Services Tax (GST), India’s biggest tax reform ever
  • Central Hall was specially decorated and was fitted with new carpets and sound systems for the big night. Former Prime Minister HD Deve Gowda was seated at the high table with the PM and President, as were Lok Sabha Speaker Sumitra Mahajan and Vice President Hamid Ansari.
  • The Congress, Trinamool Congress, RJD, DMK and Left parties stayed away from the event. However leaders of other opposition parties like the Nationalist Congress Party and Samajwadi Party attended the function.

2. India asks Pakistan for consular access to Kulbhushan Jadhav again

  • As the two countries exchanged a list of prisoners lodged in each others’ jails, India yet again asked Pakistan to grant consular access to Kulbhushan Jadhav.
  • Jadhav has been sentenced to death on charges of espionage and sabotage activities.
  • India again requested Pakistan to grant full and early consular access to the Indian nationals lodged in the custody of Pakistan, including Hamid Nehal Ansari and Kulbhushan Jadhav,” the External Affairs Ministry said in a statement in Delhi.

3. Azam Khan booked for sedition over Army remarks.

  • Samajwadi Party leader Azam Khan has been booked under sedition charges at Chandpur police station in Bijnor on Friday for alleged derogatory remarks against the Army.
  • An FIR has been filed against Khan under IPC sections 124 a (sedition), 131 (Abetting mutiny, or attempting to seduce a soldier, sailor or airman from his duty) and 505 (statements conducing to public mischief).

4. Pachnanda is the new DG of ITBP

  • Senior IPS officer R K Pachnanda took charge as the chief of the Indo-China border guarding force ITBP.
  • He is a 1983-batch police officer of West Bengal cadre and was handed over the baton of about 90,000-personnel by outgoing Director General Krishna Chaudhary.
  • Prior to his appointment, he was serving as the DG of National Disaster Response Force.

5. India to set up 20 World Class Research Institutions

  • India will set up 20 world class institutions across the country to promote research and innovation, said Union Human Resources Development Minister Prakash Javadekar on Saturday
  • The government has decided to establish 20 world class institutions across the country to encourage the young talent do research and promote innovation in science and technology,” Mr. Javadekar told students of the Indian Institute of Science (IISc).

International News

1. Carrie Lam sworn-in as Hong Kong’s new leader

  • Chinese President Xi Jinping sworn in the new leader of Hong Kong, Carrie Lam, on Saturday as the region marked 20 years of its handover to China from Britain.
  • She is Hong Kong’s first female leader
  • The Chinese president warned against “impermissible” challenges to Beijing’s authority.

2.2 Indian-Americans to Be Honoured by US

  • Shantanu Narayen and Vivek Murthy will be honoured with the prestigious ‘Great Immigrants’ annual award on US’s Independence Day on July 4.
  • They are among 38 immigrants to be honoured this year for their role in helping advance the Us’s society, culture and economy.
  • Vivek Murthy was dismissed this year in April by the Trump administration.

3. Defiant militant commander Syed Salahuddin denounces U.S. terrorist designation

  • Kashmiri militant commander Syed Salahuddin on Saturday denounced his designation as a terrorist by the United States, vowing to continue his armed fight against India over Kashmir
  • Syed Salahuddin called the decision by U.S. President Donald Trump’s administration “idiotic”
  • He added that it was a gift to Prime Minister Narendra Modi, who visited Washington, the day Salahuddin was declared a Specially Designated Global Terrorist.

4. Canada Celebrates 150th Birthday

  • Thousands of revelers, British royals and even Bono converged on Canada’s capital Ottawa on Saturday to celebrate the nation’s 150th birthday with a massive party that was held under a heavy security presence.
  • Canada’s Prime Minister Justin Trudeau, accompanied by Britain’s Prince Charles, shook hands with some of the thousands of revelers who converged on Canada’s capital Ottawa for the festivities.
  • Saturday marked the 150th anniversary of the day Canada officially became a country. Britain had ruled it before 1867.

Business News

1 .GST rate in India highest, traders and merchants protest

  • From Kanpur to Kashmir, the unions are protesting the new regime on the grounds that the slabs on certain categories are “excessive,” and the process is “complicated” overall, according to the Hindu.
  • As per the new system India will have four tax slabs: 5%, 12%, 18% and 28% which now, makes it the country with highest GST rate going past Argentina that levies 27% tax on goods and services.
  • France was the first country to introduce this type of tax regime and since then 140 countries have implemented it, with some of them following the dual-GST model, for example, Brazil and Canada.
  • India to followed the footsteps of Canada and introduced a structure where both Centre and states have the powers to levy and collect taxes.

2. Infy names Sundaram Independent Director

  • Infosys has appointed TVS Capital Funds Vice Chairman and MD D Sundaram as an independent Director of the company, with effect from July 14.
  • The decision was taken on the basis of recommendations by the Nomination and Remuneration Committee of the Board.

3. GST Impact, iPhone becomes cheaper

  • Apple has slashed retail prices of all its iPhone models by 4 per cent to 7.5 per cent from July 1, as apple passed on benefits accrued from goods and services tax (GST) regime to consumers.
  • According to changes in prices on the company’s website on Saturday, the priciest iPhone 7 Plus with a 256 GB storage which was billed to consumers for Rs 92,000, will now leave a smaller hole – of Rs 85,400.
  • The iPhone 6s starting variant of 32 GB will now be available for Rs 46,900, a mark down of 6.2 per cent.

4. Larsen & Toubro has new CEO and MD

  • SN Subrahmanyan will take charge as the chief executive officer and managing director of Larsen & Toubro.
  • The appointment marks a major change in leadership positions at L&T where Naik has served for over 52 years.
  • Subrahmanyan is currently the deputy managing director and president of L&T.

Sports News
1. Germany Beat Spain to win under-21 European Championship

  • Germany has won the under-21 European Championship title after a 1-0 win over Spain in the southern Polish city of Krakow
  • It is Germany’s second title in the age group following their triumph in 2009, while Spain failed to expand their collection of four titles< li>

2. Union Sports Minister Vijay Goel Felicitates Shrikanth Kidambi

  • Ace Badminton player Shrikanth Kidambi was felicitated today by Minister of State (I/C) for Youth Affairs & Sports Shri Vijay Goel at his official residence.
  • His coach Pullela Gopichand was also part of the felicitation function.
  • Speaking on the occasion Shri Goel congratulated Shrikanth Kidambi on his winning streak at recent International Badminton Tournaments. He said, “Srikanth’s performance has been truly exceptional

3. Vijay Mallya’s F1 Team May Drop ‘India’ From Force India

  • Businessman Vijay Mallya owned Force India Formula 1 team could be re-branded as ‘Force One’ after its top official Otmar Szafnauer hinted at a name change for the Silverstone-based outfit
  • The tainted businessman, who is wanted in India for unpaid loans in connection with the defunct Kingfisher Airlines, himself had earlier said that he was considering a name change.

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