February 5 : The task of leadership is not to put greatness into humanity, but to elicit it.

On this day, 05 Feb....

1825 - Housewife Hannah Lord Montague of Troy, New York took her scissors and created the first detachable collar on one of her husband's shirts in order to reduce her laundry load to the collar only. Her husband showed his wife's invention to other men around town. Their wives embraced this new invention. Merchants followed suit, and Troy, New York, became "Collar City" to the rest of America.

1850 - Gail Borden of Brooklyn, New York, was issued a U.S. patent for his process that baked a combination of extracts from meat with flour to produce a meat biscuit capable of long term storage. This gave a convenient method that a preserved meat-based product could be carried by the military, seamen and other travellers. Because it could be reconstituted with hot water as a soup, the patent title was “Preparation of Portable Soup-Bread.” (Six years later, he perfected a process to heat milk in a vacuum to produce condensed milk capable of extended storage).

1861- A stereoscope design that may be regarded as the first U.S. precursor to the peep show machine was patented by Samuel D. Goodale of Cincinnati.

1884 - Black American inventor Willis Johnson of Cincinnati, Ohio, was issued a U.S. patent for an "Egg Beater".

1918 - Thomas A. Edison was issued a U.S. patent for a "Starting and Current-Supplying System for Automobiles"

1918 - 1st U.S. pilot to down an enemy airplane, Stephen W. Thompson.

1922 - Readers Digest First Published. DeWitt Wallace and his wife Lila Wallace publish the first Reader's Digest magazine designed to provide abridged articles on a wide variety of subjects, for easy reading.

1929 - Earlier, athletes dig holes in the ground to get a firm foot-hold for starting. On this day, the first U.S. patent for starting blocks, titled "Foot Support," was issued to George T. Bresnahan of Iowa City. He described his invention as "what might be termed a starting block" to be used on a running track or field.

1989 - The last Russian troops withdraw from the capital city of Kabul.

1991 - The last of 1.2 lakh Indians in Kuwait manage to return to India.

Born

1630 - Har Rai, Sikh Guru.

1976 - Abhishek Bachchan, actor.

RIP

2008 - Maharishi Mahesh Yogi, Indian guru, founder of Transcendental Meditation.

2010 - Sujit Kumar, actor.

You may have known....

The General Sherman giant sequoia is the largest known stem tree by volume on the planet. The trunk of the tree contains slightly more than 52,500 cubic feet (1,486.6 cubic meters) of material.

Economic News

Tata group's consolidation promoter holdings plan in various listed Co's will turnout to be costly due to LTCG Proposed in budget 2018-19.

Govt proposes to stiffen the prevention of money laundering act 2002 ,allows confiscation of overseas property,restitution of proceeds of crime.

Taxmen will get more power to proceed against shell Co's and errant NGOs.

Investigation agencies,ED & IT, have turned their lens on bitcoin users suspecting money laundering,fraud and tax evasion.

India will renegotiate tax treaties to tax the digital economy but will restrict the scope to cover only large entities.

It will take 6 months for the recovery of markets,says experts.

Incentives soon for start ups & venture funds that undertake research on Artificial intelligence in key sectors