Daily GK Potion – 7th October 2014

  1. The Karnataka High Court refused to release Jayalalithaa on bail and rejected her plea for suspending the four-year prison sentence.
  2. Alert in Rajasthan as polio on the rise in Pak
    1. With Pakistan reporting the highest number of polio cases in the past 15 years, India has stepped up surveillance along the international border, particularly in Rajasthan, to check any spread of the infection
    2. Pakistan has recorded 202 polio cases this year — the highest in the world
  3. The Reserve Bank of India said banks could shift their excess bond holdings to trading portfolios from the held-to-maturity (HTM) basket thrice a year from 2015 to deepen the government securities market.
  4. The Finance Ministry and the RBI will finalize a new monetary policy framework by December end under which the central bank will pursue the retail inflation target to be decided by the government.
  5. Net direct tax collections up 7 per cent
    • Net direct tax collections have risen only by 7.09 per cent to Rs.2.69 lakh crore in the first six months of the current fiscal from Rs.2.51 lakh crore in the same period in the previous year.
    • The government has fixed the direct tax collections target of over Rs.7.36 lakh crore for 2014-15, which is 15 per cent higher than the last fiscal’s revised estimates.
  6. The first match of ODI series between India and West Indies is in KOCHI on 8 October 2014.
  7. IMF and World bank forecasts India growth rate at 6.4% in 2015
    • “Growth in India is expected to rise to 5.6 per cent in 2014 and pick up further to 6.4 per cent in 2015 as both exports and investment increase,” the International Monetary Fund said in its latest World Economic Outlook (WEO) report.