Current Affairs 23 June 2017

Current Affairs 23 June 2017

Current Affairs 23 June 2017

Current Affairs Today

Moody’s cuts China’s rating on debt con- cerns:
Moody’s ratings agency downgraded China’s credit score, warning that econo- my-wide debt is expected to rise as potential economic growth slows over the coming years.
The agency lowered China’s long-term local currency and foreign currency issuer ratings to A1 from Aa3, but said its outlook changed from “negative” to “stable”.
Govt. to widen coverage under UDAN:
The Central government has proposed widening the scope of its UDAN scheme for regional connectivity by making more flight operations eligible for a host of concessions, including viability gap funding. Soon, all routes which do not have flight services at present may become part of the Scheme.

Current Affairs :Centre amends definition of a start-up

Centre amends definition of a start-up
The Centre has amended the definition of a start-up by broadening the term to include scalability of business model with a potential for employment generation or wealth creation, according to an official statement issued.
The other significant changes include increasing the age of a start-up as well as doing away with the requirement of Letter of Recommendation from an incubator/industry association for recognition or tax benefits.
Startup India initiative was unveiled in January 2016 to build a strong eco-system for nurturing innovation and to help start-ups to drive economic growth and generate large scale employment opportunities.

  • The Department of Industrial Policy and Promotion, the nodal agency for startups. The changes are also aimed at building a nation of job creators instead of job seekers, according to the statement.

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