Rio Olympics 2016 opens with a glittering ceremony in Rio De Janerio August 6, 2016
 The 31st edition of Summer Olympic Games opened in the Brazilian city of Rio de Janeiro. It was     declared open by Acting Brazilian President Michel Temer at the Maracana Stadium. The theme of the 31st edition of summer Olympic Games was “World peace and Environment“.
                                                                                Key Facts
 The 2016 Rio Olympics games are scheduled to take place in Rio de Janeiro, Brazil from 5 to 21 August 2016. It is officially known as the Games of the XXXI Olympiad
1:-. It is for first time the summer Olympics will be held in South American Continent and Brazil is hosting it for the first time.
2:- The opening ceremony was held at the Maracana Stadium and it witnessed different performances and events depicting rich blend of Brazilian styles, histories and artists.
3:- The events retraced the history of Brazil from the arrival of the Portugese, the African influence on its culture, the immigration of Arab and Japanese communities and the rise of great cities.
4:- India, which has fielded its biggest ever contingent of 120 sportspersons was led by flag-bearer and Olympic Gold medallist Abhinav Bindra

                                  Rajya Sabha passes Maternity Benefits (Amendment) Bill, 2016
  The Rajya Sabha has passed the Maternity Benefits (Amendment) Bill, 2016 to raise maternity leave for working women from 12 weeks to 26 weeks for two surviving children. The Bill seeks to amend the Maternity Benefit Act, 1961. The law protects the employment of women during the time of her maternity and entitles her of a ‘maternity benefit’
                                                                              Key Facts
1:-The Bill aims at increasing women’s participation in the workforce which is “decreasing day-by-day
2:-The provisions of bill apply to every establishment employing ten or more persons and include mines and      factories.
 3:-No employer can remove any woman employee on the ground of pregnancy. It is a mandatory for every establishment having 50 or more employees to have a creche. 
4:-There is also a provision in the bill to provide 12 weeks maternity benefit to a commissioning mother and adopting mother (adopting a newborn aged below three).
5:- In this case commissioning mother is defined as a biological mother who uses her egg to create an embryo implanted in another woman.
 6:-However, a woman who has two or more children will continue to get only 12 weeks maternity leave.
 With this India will be in third position in the world in terms of the number of weeks allowed for maternity leave behind Norway (44) and Canada (50)

Assam becomes first state to ratify The Constitution (122nd Amendment) (GST) Bill, 2014 August 12, 20161

 The northern east state of Assam became first state in India to ratify The Constitution (122nd Amendment) (GST) Bill, 2014. In this regard, the Assam Assembly passed a resolution ratifying The Constitution (122nd Amendment) (GST) Bill, 2014 with simple majority. The Bill was passed by the Parliament in August 2016 and was forwarded to states for approval as per Article 368 of Constitution. The approval of half of the states (15 out of 29) in mandated as per Article 368 of Constitution as it deals with changes in the features of fiscal federalism. 
                                            Article 368;Special Majority plus State ratification
 1:-This type of special majority plus state ratification is required when a constitutional amendment bill try to change the federal structure
2:-. As per article 368, the bill must be passed by a special majority requiring a majority of 2/3rd members present and voting in both houses of Parliament.
 3:-Besides, it must be ratified by more than half of the state legislatures (15 out of 29 states) by a simple majority.
                                                               Key Provisions of the Bill
1:- Keeping in mind the federal structure of India, the GST has two components viz. Central GST (CGST) and the State GST (SGST).
2:- Besides, Centre will only levy the Integrated GST (IGST) on interstate supply of goods and services or imports
.3:- Parliament and state legislatures have concurrent powers to make laws on GST. Parliament will not override state law on GST.                                                                                                                                                 4:- 4:-GSTcouncil will recommend rates of tax, period of levy, principles of supply, special provisions to certain states etc
. 5:-GST council will comprise of Union Minister of Finance (Chairman), Union Minister of State (MoS) for Revenue and state finance Ministers as members.
 6:-Alcoholic liquor for human consumption has been keep away from preview of GST. Initially, GST will not apply to (i) petroleum crude, (ii) high speed diesel, (iii) motor spirit (petrol), (iv) natural gas and (v) aviation turbine fuel. The GST Council will decide when GST will be levied on them.

                                                            Current Affairs Today Current Affairs 2016

 India’s first Nuclear Suppliers’ Insurance Policy unveiled by INIP August 13, 2016. India’s first Nuclear Suppliers’ insurance policy for ‘Right to Recourse’ was unveiled by India Nuclear Insurance Pool (INIP). The policy was unveiled by Atomic Energy Commission (AEC) chairman Sekhar Basu in Mumbai, Maharashtra. INIP is the 27th global nuclear insurance pool which was launched by state run General Insurance Corporation of India (GIC Re), in association with non-life insurance companies. New India Assurance Co (NIAC) and INIP will issue the policy and administer the claims on behalf of the pool.  Earlier NIAC had issued a policy for the operators of nuclear power plants under INIP by underwriting premium to the tune of Rs 100 crore. What is India Nuclear Insurance Pool (INIP)? Indian Nuclear Insurance Pool (INIP) of 1,500 crore rupees was launched as per the mandatory provision under the Civil Liability for Nuclear Damage Act (CLND), 2010. The pool provides capacity for insurance coverage to operators and suppliers for any nuclear liability towards third party. INIP also will offer policies on the nuclear operators liability insurance policy and a nuclear suppliers’ special contingency (against right to recourse) insurance policy. It will also address third-party liability insurance and later expand into property and other hot zone i.e. inside reactor areas risk. At present, it only covers cold zones (outside reactor areas). It will also provide the risk transfer mechanism to the operators and suppliers to meet their obligations under the CLND Act, 2010.

                                                                 

Current Affairs Today - Current Affairs 2016 India’s first Nuclear Suppliers’ Insurance Policy unveiled by INIP August 13, 2016No comments India’s first Nuclear Suppliers’ insurance policy for ‘Right to Recourse’ was unveiled by India Nuclear Insurance Pool (INIP). The policy was unveiled by Atomic Energy Commission (AEC) chairman Sekhar Basu in Mumbai, Maharashtra. INIP is the 27th global nuclear insurance pool which was launched by state run General Insurance Corporation of India (GIC Re), in association with non-life insurance companies. New India Assurance Co (NIAC) and INIP will issue the policy and administer the claims on behalf of the pool.  Earlier NIAC had issued a policy for the operators of nuclear power plants under INIP by underwriting premium to the tune of Rs 100 crore. What is India Nuclear Insurance Pool (INIP)? Indian Nuclear Insurance Pool (INIP) of 1,500 crore rupees was launched as per the mandatory provision under the Civil Liability for Nuclear Damage Act (CLND), 2010. The pool provides capacity for insurance coverage to operators and suppliers for any nuclear liability towards third party. INIP also will offer policies on the nuclear operators liability insurance policy and a nuclear suppliers’ special contingency (against right to recourse) insurance policy. It will also address third-party liability insurance and later expand into property and other hot zone i.e. inside reactor areas risk. At present, it only covers cold zones (outside reactor areas). It will also provide the risk transfer mechanism to the operators and suppliers to meet their obligations under the CLND Act, 2010.

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