Daily GK Update: February 5th, 2016.

‘GST will become a reality soon’.

Finance Minister Arun Jaitley said he hoped that the Opposition parties will “see reason” and the Goods and Services Tax (GST) Bill, which is held up in Rajya Sabha, will be passed soon.

Govt, Qualcomm announce contest for Start Ups.

In support of the forthcoming Make in India Week event to be held in Mumbai, the Department of Industrial Policy & Promotion (DIPP) and Qualcomm Ventures announced India’s largest start-up contest — “QPrize Make in India” awarding $ 350,000 in equity investment as prize money for the winning company.

Govt. to present General Budget on February 29.

The Budget session of Parliament will commence from February 23 and the government will present the General Budget on February 29. The dates were decided at a meeting of the Cabinet Committee on Parliamentary Affairs, chaired by Home Minister Rajnath Singh.

Investing in startups easier than investing in large companies, says Ratan Tata.

Ratan Tata, Chairman Emeritus of Tata Sons, said that he would consider investing in young and dynamic startups than in large enterprise as the challenges associated in startup funding was lesser than investing in complex entities.

‘Report on insolvency and bankruptcy code expected by the first week of March’.

Union Finance Minister Arun Jaitley expects the joint committee of Parliament studying the insolvency and bankruptcy code will submit its report by the first week of March, with passage of the reform legislation possible during the Budget session scheduled to begin February 23.

WHO certifies vaccine maker GreenSignal Bio.

Geneva-based World Health Organisation (WHO) has accorded PQP (Pre-qualification of Medicines Programme) certification to the Bangalore based GreenSignal Bio Pharma Pvt. Ltd., a BCG vaccine-making firm. GreenSignal is the second Indian company to get PQP certification from WHO.