17 Feb 2018: UPSC Exam PIB Summary & Analysis

National Banana Festival- 2018

  • The Union Agriculture & Farmers Welfare Minister, Shri Radha Mohan Singh addressed at the National Banana Festival, 2018 held in Thiruvananthapuram, Kerala.
  • Banana is native of India and is widely grown in tropical, sub-tropical, and coastal region of India.
  • India is the largest producer of banana in the world with 29.7 million tonnes from an area of 0.88 million hectares with a productivity of 37 MT/ha. 
  • Tamil Nadu is the largest banana producing state.

India and Iran sign DTAA

  • India and Iran signed an Agreement for the Avoidance of Double Taxation (DTAA) and the Prevention of Fiscal Evasion with respect to taxes on income.
  • The Agreement will stimulate the flow of investment, technology and personnel from India to Iran& vice versa, and will prevent double taxation. 
  • The Agreement also meets treaty related minimum standards under G-20 OECD Base Erosion & Profit Shifting (BEPS) Project, in which India participated on an equal footing.
  • The Agreement will provide for the exchange of information between the two Contracting Parties as per latest International Standards.
  • It will improve transparency in tax matters and will help curb tax evasion and tax avoidance. 

12th India-Saudi Arabia Joint Commission Meeting 

  • The Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley will attend the 12th India-Saudi Arabia Joint Commission Meeting (JCM).
  • The JCM will be held at Riyadh, Saudi Arabia.
  • The Finance Minister Shri Jaitley along with his counterpart Minister from Saudi Arab will open the “Saudi-Indian Business Council”. 

Prime Minister to Inaugurate the Fourth Container Terminal of JNPT

  • Prime Minister Shri Narendra Modi will inaugurate the Fourth Container Terminal (FCT) of Jawaharlal Nehru Port Trust in Mumbai.
  • The new FCT will add a capacity of 24 lakh containers per year in Phase-I and after completion of Phase-II in 2022, the capacity of JNPT will be 100 lakh containers per year.
  • The Fourth Container Terminal has been developed on Design, Built, Fund, Operate and Transfer (DBFOT) basis.
  • The terminal will have deepest berths enabling it to handle “Mother Ships”.
  • Under Sagarmala, 101 projects worth Rs 2.5 Lakh Crore have been planned in Maharashtra. Out of these, 5 projects have already been completed and 58 projects are under various stages of development.

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