Union Cabinet Approved Special Package for Textiles & Apparel Sector
- The Union government on June 22, 2016 approved a Rs 6000 crore special package for textiles & apparel sector to create one crore new jobs in 3 years, attracting investments of $ 11 billion and generating $ 30 billion in exports.
- The measures approved include additional incentives for duty drawback scheme for garments, flexibility in labour laws to increase productivity as well as tax and production incentives for job creation in garment manufacturing.
- The package breaks new ground in moving from input to outcome based incentives by increasing subsidy under Amcnded-TUFS from 15% to 25% for the garment sector as a boost to employment generation.
Union Cabinet Approved Mega Spectrum Auction
- The Union Cabinet on June 22, 2016 approved the mega spectrum auction plan, which is estimated to fetch about Rs 5.66 lakh crore to the exchequer.
- As per the rules approved by an inter-ministerial paneL the auction would include the sale of the most premium 700 MHz band at a reserve price of Rs 11485 crore per MHz.
- The cost of delivering mobile services in this band is estimated to be around 70% lower than the 2100 MHz band, used for providing 3G service.
- The inter ministerial panel that is the supreme body on decisions on telecom matters suggested a flat 4.5% rate for spectrum acquired across bands at . various points in time.
Silver Coin Released to Mark Martyrdom Day of Sikh Leader Banda Bahadur
- The Union Finance Minister Arun Jaitley released a commemorative silver coin to mark the 300th martyrdom day of Sikh General Banda Singh Bahadur on March 21, 2016.
- Banda Singh Bahadur Banda Singh, who was bom in 1670 in Rajouri, was given the title of Bahadur by 10th Sikh Guru Guru Gobind Singh.
- He was appointed by Gum Gobind Singh as his deputy and military’ lieutenant. Armed with the blessing and authority of Gum Gobind Singh, Banda Singh Bahadur assembled a fighting force and led the struggle against the Mughal Empire.
Government Banned the Use of Potassium Bromate as Food Additive
- The government banned use of potassium bromate as a food additive following a CSE study that found its presence in bread causing cancer on June 20, 2016.
- The Food Safety Standards Authority of India (FSSAI), however, has referred potassium iodate also claimed to be carcinogenic used as a food additive to a scientific panel.
- A CSE study found that 84% of 38 commonly available brands of pre-packaged breads, including pav and buns, tested positive for potassium bromate and potassium iodate. The two food additives are banned in many countries and are listed as ‘hazardous’ to public health.
