Current Affairs India - 14-15 August 2016

1. Assam has become the first Indian state to ratify the Goods and Services Tax Constitutional Amendment Bill which was cleared by the Parliament only recently. The new tax rule aims to create a uniform tax regime throughout the country, and it now awaits the ratification of at least 15 states to make it a law.

2. Railway Budget will be merged with the General Budget from 2017-18 onwards which will end a 92-year-old tradition. The move is considered to be a relief to the national transporter, which was suffering from an additional burden of about Rs 40,000 crore on account the Seventh Pay Commission and close to Rs 35,000 crore on subsidy burden.

3. Justice Manjula Chellur has been appointed as the next Chief Justice of the Bombay High Court. Justice Chellur, who is currently the Chief Justice of Calcutta High Court, will take charge of Bombay High Court on or before August 24, 2016. She replaces CJ Dhirendra Hiralal Waghela.

4. Retail inflation, measured by the Consumer Price Index, jumped to a 2 year high of 6.07% in July this year due to higher increase of food prices. It stood at 5.77 per cent in June this year, and 3.69 per cent in July last year. Food inflation increased to 8.35% in July.

5. Global retail furniture giant Ikea has laid the foundation for its first store in India in Hyderabad this week which is expected to open in July next year. This is IKEA's first store in the country and the second store will be opened in Mumbai.

6. Indian leading pharma company Cipla Limited has appointed Umang Vohra as the managing director (MD) & global chief executive officer (CEO) of the company effective 1st September this year. He will succeed Subhanu Saxena who will step down from his position due to personal priorities. The company also announced that Samina Vaziralli, Executive Director (ED) and the global head - strategy, M&A and Cipla New Ventures, will be the executive vice-chairman of Cipla.

7. Gautam Eknath Thakur has been elected Chairman of the leading co- operative banker, Saraswat Bank which is an urban co-operative banking institution based in Mumbai, Maharashtra and operating as a co-operative bank since 1918.