CURRENT AFFAIRS JULY 17, 2011

World Bank probable to approve $1 Billion credit for NRLP

The Rural Development Ministry to sign agreement with World Bank for Soft Loan

worth of $ 1 billion

Objective of the Loan: To implement the National Rural Livelihoods

Project (NRLP)

under National Rural Livelihood Mission (NRLM)

Distribution of project funds among the states to be based on the relative share of

rural BPL population in the total states

Hugo Chavez delegates some of his powers to VP & FM

Venezuelan President: Hugo Chavez

Mr. Hugo arrived in Cuba to continue receiving medical treatment on

cancer detected

Mr. Chavez delegated some of his responsibilities to Vice President Elias

Jaua temporarily

2011 Military World Games open in Rio de Janeiro

2011 Military World Games opened in Rio de Janeiro, Brazil

Games are officially known as the 5th CISM Military World Games

About 4,900 athletes from 88 countries competing in 24 events

during the 9-day Games

A group of 149 services personnel will represent the Indian armed forces at the

Games

They include a number of National, Commonwealth and Asian Games medalists

India will participate in 12 disciplines and the team include ace shooter Sanjeev

Rajpur and star boxers Suranjoy Singh, T. Nanao Singh and Chhote Lall Yadav

The Indian contingent is headed by Air Marshal J.N.Burma, President, Services

Sports Control Board

Volcano Mount Lokon re-erupts in Indonesia

A volcano in North Sulawesi in central Indonesia has re-erupted

Mount Lokon re-erupted spewing ash up to 3,000 to 3,500 meters high and

moving to the north

Mount Lokon of 1,750 meters high is one of Indonesia’s 129 active

volcanoes

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250 Crore Tax payed by the India’s Richest Sporting body BCCI

Keeping its reputation of being India’s richest sporting body , the

Board of Control for Cricket in India, BCCI paid taxes to the tune of `

300 small Political Parties did not file IT Return

A nationwide investigation conducted by the Income Tax Department

has established that 300 registered political parties have never filed their IT

Returns

IT Department directed by the EC to issue notices to such Parties

Central Board of Direct Taxes (CBDT) asked by the EC to ensure the financial

status of these small parties for suspected violation of tax laws and money

laundering

The CBDT carried an investigation on this issue and submitted its Report to the

election panel

A number of political parties also do not possess Permanent Account Number

(PAN)

As the donations to Political Parties are relieved from payment of

income tax, it is suspected that people are floating such political

parties in large numbers to escape taxes

Income Tax Department asked by the EC to step up the investigation and to serve

show-cause notices to these small parties under the pertinent provisions of Income

Tax Act and make certain the source and efficacy of the funds they received

through donations

The report tracked the I-T returns of these small parties in 13 states including

Tamil Nadu, West Bengal and North East

Regularly I-T returns have been filed by all the National and other major Political

Parties

Chief Election Commissioner Mr. S.Y.Quraishi observed that almost 75 to

80% of the registered political parties have not participated in any elections for

the last several years

Satyavanrao Atram passes away

Satyavanrao Atram: Former Maharashtra Member of Legislative Assembly and

President of the Nag-Vidarbha Aandolan Samiti Raje Satyavanrao Atram