Current Affairs of 10 Feb 2018
Keshav Kishore, Published On:10-Feb-2018
1. India is at 44th position in Intellectual Property Index
• India is ranked 44th out of 50 countries in the Intellectual Property Index released by US Chamber of Commerce.
• There is additional meaningful reform is needed to improve in ranking such as patentability requirement, compulsory licensing for commercial and nonemergency situations etc.
• India has improved its score substantially from 25% to 30% but still in the bottom ladder of ranking where US is at rank one.
2. Medical breakthrough to treat infertility
• Scientists have successfully grown human eggs in a laboratory from the earliest stages in ovarian tissue all the way to full maturity.
• It could one day help in developing regenerative medicine therapies and new infertility treatments.
• This is first time human eggs have been developed outside the human body form their earliest stage to full maturity.
• There is a lot more work is needed to ascertain the safety and security of technique and to check whether these eggs remains normal during the process, can be fertilized to form embryos that could lead to healthy babies.
3. Khelo India School Game is completed
• In the Khelo India competition, Haryana topped the overall medal tally with total 102 medals (38 gold and 26 silver).
• This is the first such competition held in New Delhi, in which Haryana ranked one followed by Maharashtra with 110 medals.
• Khelo India School games are national level multidisciplinary grass-root games in India for the under-17 year’s school kids. Under the programme, every year best 1000 kids will be given an annual scholarship of INR 5 lakh for 8 years to prepare for them for international sporting events.
4. RBI will link Base Rate with MCLR
• To ensure quicker transmission of policy rates to existing loan interest rate of borrowers, the Reserve Bank of India has issued notice that banks will have to link base rate with the Marginal Cost Lending Rate (MCLR) form April 1, 2018.
• RBI introduced Marginal Cost Lending rate with effect from April 1, 2016 to facilitate greater passing on of the benefit of reduction in policy rates to lending rates.
• Since MCLR is more sensitive to policy rate signals, it has been decided to harmonize the methodology of determining benchmarks rates by linking the Base rate to MCLR.
5. LTCG Tax is re-introduced
• The 10% Long-Term Capital Gains (LTCG) tax will be re-introduced which was scrapped in 2004-05.
• LTCG refers to the gains made on any class of asset held for a particular period of time. In case of equity shares, it refers to the gains made on stocks held for more than one year.
• The Union government clarified that if the gains exceeded Rs. 1 lakh in a year, then 10% LTCG tax had to be paid without the benefit of indexation (adjusting the profit against inflation to compute the real taxable gains).
Source: The Hindu, The Indian Express