Daily Current Affairs- 6th August 2016

Dear Readers, we are providing Today's important current affairs of Competitive Exams specially for Bank and SSC

1. Union Government aims to roll out GST from April 1, 2017

1. The Union Government has set the ambitious target to roll out of the Goods and Services Tax, (GST) from 1st April 2017. It was announced by Union Finance Minister Arun Jaitley after unveiling a detailed road map for GST implementation. This announcement was made after Rajya Sabha had passed.
2. There will be two components of GST – Central GST (CGST) and State GST (SGST) in order to comply with federal structure of India. Thus both Centre and States have authority to simultaneously levy GST across the value chain. GST will be levied on every supply of goods and services. States will levy and collect the State Goods and Services Tax (SGST) on all transactions within a State and Centre will levy and collect Central Goods and Services Tax (CGST).

2.RBI constitutes Tarun Ramadorai Committee on Household Finance

1. The Reserve Bank of India (RBI) on 4 August 2016 constituted a committee to look at various facets of household finance in India. The Committee will be chaired by Tarun Ramadorai, Professor of Financial Economics, University of Oxford.
2. It will have representation from financial sector regulators namely, Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA) apart from Reserve Bank of India (RBI).
3. Terms of reference of the Tarun Ramadorai Committee
• To benchmark the current depth of household financial markets in India among those in other major world markets and to identify areas of priority for growth and change.
• To characterize and evaluate Indian households' demands in formal financial markets (for assets such as pensions as well as liabilities such as home loans) over the coming decade.

3. China successfully launches first satellite for mobile telecommunication

1. China has successfully launched the first satellite dubbed as The Tiantong-01 for mobile telecommunication. It was launched on-board of the Long March-3B carrier rocket from Xichang Satellite Launch Centre. 
2. The Tiantong-01 is the first satellite of China’s homemade satellite mobile telecom system. It is a key part of the country’s space information infrastructure.

4. Union Government launches nation-wide programme MAA for promoting breastfeeding

1. Union Health Minister J P Nadda  launched a nation-wide programme MAA - Mothers’ Absolute Affection for promoting breastfeeding.
2. The goal of the programme is to enhance optimal breastfeeding practices.
3. About the programme
• MAA is an intensified programme of the Health Ministry for creating an enabling environment to ensure that mothers, husbands and families receive adequate information and support for promotion of breastfeeding.
• The Ministry has allocated 30 crore rupees for the Programme and 4.3 lakh rupees for each district will be allotted for implementing the various activities under MAA programme.
• The chief components of the MAA Programme are Community awareness generation, Strengthening inter personal communication through ASHA, Skilled support for breastfeeding at Delivery points in Public health facilities, and Monitoring and Award/recognition.

5. 2016 Rio Olympics begins with grand ceremony

1. The 31st Summer Olympic Games officially began on 5 August 2016 with inaugural ceremony held at the Maracana Stadium in the Brazilian city of Rio de Janeiro.
2. The Game was declared open by Brazil’s Acting President Michel Temer in the presence of International Olympic Committee chief Thomas Bach and United Nations chief, Ban-Ki Moon. 
3. After declaration of the Games by President Temer, the Brazilian 2004 Athens Olympics marathon bronze winner Vanderlei de Lima lit the Olympic cauldron. He lit the lamp after former tennis world number one and three-time French Open winner Gustavo Kuerten brought the torch into the arena.
4. Facts of the Rio Olympics
• Nearly 11000 athletes, including a first-ever refugee team, will take part in the 17-day extravaganza featuring 306 events in 42 sport disciplines.
• The Refugee team will compete under the Olympic flag and has members from South Sudan, Syria, Congo and Ethiopia.
• With this, Rio de Janeiro became South America's first Olympic host city, while the African continent is yet to host the Olympic Games.

6. World Breastfeeding Week 2016 observed

1. The 2016 World Breastfeeding Week (WBW) is being observed across the world. The week is held every year from 1 to 7 August.
2.The theme for the 2016 World Breastfeeding Week is Breastfeeding: A key to Sustainable Development. The theme aims at raising awareness of the links between breastfeeding and the Sustainable Development Goals.
3. The week is organized by World Alliance for Breastfeeding Action (WABA), World Health Organisation (WHO) and UNICEF.WBW’s goal is to promote exclusive breastfeeding for the first six months of life, which yields tremendous health benefits, providing critical nutrients, protection from deadly diseases development.