Current Affairs March 29: Income Tax sends notice of Rs 1,823 crore to Congress, Phase-II of Vikram rocket successfully tested

Mar 29, 2024 Divya Bharat

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Current Affairs Income Tax Sent Notice Of Rs 1,823 Crore To Congress, Phase II Of Vikram Rocket Successfully Tested

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Nidhu Saxena became the MD and CEO of Bank of Maharashtra. Adani Group's 'Kutch Copper' started production. At the same time, Reliance Industries has purchased 26% stake in Madhya Pradesh Power Project from Adani Power.

Let us have a look at such major current affairs of today, which are important for the students preparing for government jobs…

NATIONAL

1. IT sent notice of Rs 1,823 crore to Congress: On March 29, the Income Tax Department has issued a new demand notice of Rs 1,823 crore to the Congress. This demand notice is for 2017-18 to 2020-21. This includes interest along with fine.

After receiving the notice, Congress accused BJP of tax violation of Rs 4600 crore.
On March 28 itself, Delhi High Court had rejected the petition filed by Congress regarding tax assessment.
Congress had filed a petition against initiating income tax reassessment proceedings for four years (2017-18, 2018-19, 2019-20 and 2020-21).
Even before this, Congress had challenged the assessment proceedings from 2014-15 to 2016-17, which was rejected by the court.
Income Tax had recovered around Rs 135 crore from the accounts of Congress in the tax assessment for 2018-19.

2. Vikram rocket's second stage successfully tested: On March 28, India's first private space technology company Skyroot Aerospace successfully test-fired the second stage of Vikram-1 rocket. The company has conducted this test at the Indian Space Research Organization (ISRO)'s Satish Dhawan Space Center located in Sriharikota.

Skyroot Aerospace named the second stage of Vikram-1 as Kalam-250.

Kalam-250 is a high power carbon mixed rocket motor.
This will take the rocket out of the Earth's atmosphere and into the space vacuum.
The test lasted 85 seconds, recording a high sea-level thrust of 186 kilonewtons.
This will be converted to approximately 235 kilonewtons during rocket flight.
Skyroot Aerospace tested Vikram S in November 2022.
With this it became the first private company in the country to launch a 'sub-orbital' rocket.

Appointment

3. Nidhu Saxena becomes MD and CEO of Bank of Maharashtra: On March 27, the central government appointed Nidhu Saxena as the executive director of public sector Union Bank. Nidhu previously served as the Managing Director (MD) and Chief Executive Officer (CEO) of Bank of Maharashtra.

Nidhu Saxena has 26 years of banking career experience.

Nidhu Saxena started her banking career with Bank of Baroda.
After this he also worked in UCO Bank and Union Bank of India.
He was working as Branch Manager, Zonal Manager and Vertical Chief in Union Bank.
He has also been a member of the board of Union Asset Management Company.
The MD and CEO of a public sector bank is appointed by the Financial Services Institutions Bureau (FSIB) under the Union Finance Ministry.

BUSINESS

4. Adani Group's 'Kutch Copper' starts production: On March 28, Adani Group company 'Kutch Copper' has started production at the Greenfield Copper Refinery Project located in Mundra. The company has also sent the first batch of cathode from this refinery to the customers. With this the group has also taken its first step in the metal industry.

Adani Group has invested 1.2 billion dollars (about Rs 10,008 crore) in this plant.

This copper smelting plant is to be completed in two phases, in the first phase of which there will be an annual production of 5 lakh tonnes of copper.
Another plant with the same capacity (5 lakh tonnes per annum) will be built in Surrey phase.
With a total annual production of 1 million tonnes, it will be the world's largest metal smelter located in a single location.
The company is also working on setting up Kutch Copper Tube Limited.
The company will produce copper tubes for electric appliances from here.
India has joined the list of China and other countries by rapidly increasing its copper production capacity.
India imports 90% of its copper needs from many other countries including South America.

5. Gautam Adani and Mukesh Ambani came together for the first time: On March 27, Mukesh Ambani's Reliance Industries bought 26% stake in Madhya Pradesh Power Project from Gautam Adani's Adani Power. Along with this, Reliance Industries has signed an agreement for captive use of 500 MW electricity of the plant.

Reliance Company will spend Rs 50 crore on Adani Power Limited.

This is the first time that any kind of partnership has taken place between two competing billionaire industrialists.
Both the companies have given information about this in separate stock exchange filings.
Reliance will buy 5 crore equity shares of Mahan Energen Limited, a subsidiary of Adani Power Limited.
Reliance is India's largest private sector company, with a market cap of Rs 20,14,010.63 crore.
Gautam Adani's Adani Power is India's largest private thermal power producer.
The company has stated in its official website that our power generation capacity is 15,250 MW.
This includes thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh and Jharkhand and a 40 MW solar energy project in Gujarat.

TODAY'S HISTORY

History of March 29: On this day in 1857, Mangal Pandey started a rebellion against the British rule. The British ruler had put everything at stake to suppress this revolution. It was today's day when Mangal Pandey, a soldier of the 34th Bengal Native Infantry in Barrackpore Cantonment of Bengal, attacked two British officers in the parade ground and then shot and injured himself.

This was the first rebellion in India against the British rule, which was called 'Military Rebellion'.

In 2008, it was announced that the Uttar Pradesh Culture Award would be given to Professor Srinivas Rath, a Sanskrit scholar from Ujjain.
In 2003, the hijackers of the Turkish Airlines plane surrendered.
In 2001, America refused to accept the Kyoto Protocol on global warming.
In 1999, Paraguay's President Raul Cubas resigned.
In 1982 N.T. Rama Rao founded the Telugu Desam Party.
Hillary and Tenzing Norgay conquered Mount Everest in 1953.
Former British Prime Minister John Major was born in 1943.

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