Daily Current affairs - April 16th, 2018 for all competitive exams
Prime Minister Narendra Modi left on a five-day
visit to Sweden and the UK. The visit to the two nations aims at enhancing
bilateral cooperation in key areas like trade, investments and Science &
technology.
- On
the first leg of his visit, the Prime Minister will attend the
first-ever India-Nordic Summit at Stockholm, which will be
co-hosted by India and Sweden.
- In
London, Mr Modi will take part in the Commonwealth Heads of
Government Meeting being hosted by the UK.
- Nordic
countries include Sweden, Norway, Finland, Denmark and Iceland.
PM Modi’s speech in London will be from
historic Central Hall Westminster
Prime Minister Narendra Modi will address the world in a
globally broadcast live event from the historic Central Hall Westminster in
London during his visit to the UK, following in the footsteps of speakers such
as Mahatma Gandhi and Martin Luther King Jr.
- According
to the Europe India Forum, the organisers of Bharat Ki Baat, Sabke Saath,
the Indian prime minister will address people of all nationalities and
backgrounds as questions pour in on social media from far and wide — from
the North Pole to New Zealand and Saudi Arabia to San Francisco.
- The
event will be broadcast globally live from the historic location.
CII pegs India's GDP growth at 7.3-7.7% for
2018-19
The Confederation of Indian Industry (CII) has announced
that it expects India's gross domestic product (GDP) to grow at
7.3-7.7% during the 2018-19 financial year.
- This
is based on strengthening demand in the rural economy, including
agriculture and non-farm activities, as well as better global growth
climate.
Government raises NABARD's authorised capital
to Rs.300 billion
As part of the drive to double the income of farmers by
2022, the government has raised the authorised capital of NABARD by
six times from 50 billion to Rs 300 billion to help it increase its
lending to the rural economy.
- The
increase in authorised capital will enable Nabard to respond to
commitments it has undertaken, particularly in respect of the Long Term
Irrigation Fund and on-lending to cooperative banks.
- The
government in the Budget had enhanced the corpus of the Rural
Infrastructure Development Fund (RIFD) to Rs.280 billion with an overall
objective of doubling farmers income by 2022.
National Bank for Agriculture and Rural Development
(NABARD) is an apex development financial institution in India, headquartered
at Mumbai with branches all over India Harsh Kumar Bhanwala is the Chairman
of NABARD.
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Government decided to extend FAME scheme by 6 months
The government
has decided to extend the Faster Adoption and Manufacturing of (Hybrid) and
Electric Vehicles (FAME) scheme by six months until 30 September 2018, or till
the time the second phase of the scheme is approved by it.
- With
an aim to promote eco-friendly vehicles, the government had launched the
Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in
India (FAME-India) scheme in 2015.
The FAME
India Scheme is aimed at incentivising all vehicle segments, including
two-wheelers, three wheeler auto, passenger four-wheeler vehicle, light
commercial vehicles and buses. The scheme covers hybrid and electric
technologies like a strong hybrid, plug-in hybrid and battery electric
vehicles.
FAME India –
Faster Adoption and Manufacturing of Hybrid and Electric vehicles in India –
is a part of the National Electric Mobility Mission Plan. The scheme
envisages Rs 795 crore support in the first two fiscals. It is being
administered by the Heavy Industries Ministry.
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Govt. ties up with IIT-Delhi for safety switches on
vehicles
Under pressure on the issue of safety of women in the
country, the government has turned to technology for a solution. The Ministry
of Electronics and IT in partnership with IIT-Delhi is working on a
switch-based device in cars and buses to aid safety of women.
- The
system will include features such as authenticating the driver of the
vehicles and a camera interface. The system is designed to monitor the
health of the switch. Whether it is in proper working condition or not,
and it will also enable tamper proof operation.
- The
field trials for the beta version of the system are already underway, and
the Ministry expects to start rolling out the final version by next month.
“The first version has been field tested and the final version is expected
in May, 2018 for cars and by August, 2018 for buses,”.
The project, being developed by IIT-Delhi, is being funded
by the Nirbhaya Fund, set up in 2013 for implementation of
initiatives aimed at enhancing the safety and security of women in the
country. However, the government has been facing criticism for under-utilisation
of the fund.
The total number of crimes registered against women in the
country during the year 2014, 2015 and 2016 were 3,39,457, 3,29,243 and
3,38,954, respectively, showing a mixed trend with a decline of 3.0% in 2015
over 2014 and an increase of 2.9% in 2016 over 2015, as per the government
data.
In 2016, the government had announced plans to make it
mandatory for mobile phone makers to provide a panic button on the device,
starting January 2017. However, the plans were delayed by almost a year. The
trial for the system finally started in U.P. earlier this year.
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India planning to against Asian premium charged by OPEC
India is
planning to coordinate with China and other Asian countries to voice against
the “Asian Premium” being charged by the Organisation of the Petroleum
Exporting Countries (OPEC). Soon, the countries will chalk out the strategy
that would result in getting better price from OPEC countries.
- Asian
Premium is the extra charge being collected by OPEC countries from Asian
countries when selling oil. The premium is determined in large part by the
official selling prices (OSPs) set by Saudi Arabia, Iran, Iraq, and
Kuwait, which supply about 15 percent of the world’s crude among them.
They set differential prices against benchmarks on a monthly basis,
adjusting them to account for regional variations.
- India,
which sources 85% of its crude oil supplies from OPEC member countries,
wants producers to offer discounts rather than charge a premium, as today
it has become buyer’s market.
- The
direction of crude flow from West Asia has now shifted to Asia. Besides,
with OPEC deciding not to reduce production, there is a tilt in the
demand-supply balance.
The
Organization of the Petroleum Exporting Countries (OPEC) is a permanent,
intergovernmental Organization, created at the Baghdad Conference in
September 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Currently,
the Organization has a total of 14 Member Countries. OPEC had its
headquarters in Geneva, Switzerland, in the first five years of its
existence. This was moved to Vienna, Austria, on September 1, 1965.
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Railways to build the 500km wall along
Delhi-Mumbai route
The train journey between Delhi and Mumbai may soon get
smoother with the Central government approving the construction of a 500km
boundary wall.
- This
is the first step towards converting the Delhi-Mumbai corridor into a
high-speed zone and track changes allowing express trains to attain the
maximum speed of 160km per hour.
- The
plan will cost Rs 500 crore and the Railways is working on a plan to
implement a similar model on Delhi-Kolkata route, said the official quoted
above.
Pradhan Mantri Ujwala Yojana launched in Telangana
Pradhan Mantri
Ujjwala Yojana (PMUY) was launched in the state of Telangana on the birth
anniversary of Dr. B.R. Ambedkar.
- Pradhan
Mantri Ujjwala Yojana aims to provide LPG (liquefied petroleum gas)
connections to poor households.
- Under
the scheme, an adult woman member of a below poverty line family
identified through the Socio-Economic Caste Census (SECC) is given a
deposit-free LPG connection with financial assistance of Rs 1,600 per
connection by the Centre.
- Eligible
households will be identified in consultation with state governments and
Union territories. The scheme is being implemented by the Ministry of
Petroleum and Natural Gas.
According to
the World Health Organization, solid fuel use is responsible for about 13% of
all mortality and morbidity in India (measured as Disability-Adjusted Life
Years), and causes about 40% of all pulmonary disorders, nearly 30% of cataract
incidences, and over 20% each of ischemic heart disease, lung cancer and
lower respiratory infection.
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Punjab allows transport of food grains on tractors
The Punjab government’s decision to allow transport of food
grains and other produce from market yards on tractor-trolleys has not gone
down well with the truck operators in the State.
- Dismissing
the allegation of cartelization against them, the truck operators say the
decision will badly affect their business and will not serve the long-term
interest of farmers or transporters.
Himachal Pradesh celebrates its 71st Foundation
day
Himachal Pradesh celebrated its 71st foundation day with
much fanfare and gaiety. Several cultural events were organized across the state.
- It may be recalled that the hill state came into
existence after the merger of 30 odd princely states in 1948.
- The main event was held at Ridge Maidan in Shimla, where
Chief Minister Jairam Thakur reviewed the ceremonial Parade presented by
police, home guards and NCC cadets.
ITDC bags Rs.550 crore project for developing infrastructure in
Andhra Pradesh
India Tourism Development Corporation (ITDC) signed a
memorandum of understanding (MoU) with Hyderabad based firm M/s Suraas Impex
Pvt. Ltd. for developing a Mega Tourism Destination project in Kakinada, Andhra
Pradesh.
- The proposed Mega Tourism Destination project in
Kakinada, Andhra Pradesh will be implemented at an estimated cost of Rs.
550 crore.
ITDC will be the Consulting Agency as well as Implementing
Agency for this project.
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India rejects China’s latest offer to join BRI
India has rejected China’s latest overture to join the Belt
and Road Initiative (BRI).
It says that it won’t take sides in the ongoing trade dispute
between Beijing and Washington.
- The remarks are made by NITI Aayog vice-chairperson
Rajiv Kumar, who is in Beijing for the 5th Strategic Economic Dialogue
with He Lifeng.
- On the ongoing trade spat between China and the US,
Kumar said India would not take any sides though it supports the multilateral
trade order.
US places India under watch list
The United
States Treasury Department has put India again on the currency manipulator
watchlist as the country’s foreign exchange net addition and the bilateral
trade surplus with the US have breached two of the three criteria determining
manipulation.
- The Treasury report is required by Congress to identify
countries that are trying to artificially manage the value of their
currency to gain a trade advantage, for example by keeping the exchange
rate low to promote cheaper exports.
The US Treasury Department uses three parameters to determine a
currency manipulator: Bilateral trade surplus with the US to
be $20 billion, current account surplus at 3% of country’s GDP, and net
purchases of foreign currency to 2% of country’s GDP over a year.
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Ireland’s tallest tower reopens to public after
47 years
Ireland’s tallest tower has reopened to the public here after
47 years following a bomb attack.
- Hundreds of tourists, both local and foreign, are coming
in from different corners of the city to visit the O’Connell Tower.
- Located in north Dublin, the tower was built in 1855 in
the memory of Daniel O’Connell, one of the greatest political figure.
- In 2016, Glasnevin Trust, the largest funeral services
provider in Ireland, started work to restore the destroyed staircase that
leads to the top of the tower.
The trial run of Bangladesh-Nepal bus on April
23
Bangladesh, India and Nepal, the three governments will carry
out a trial bus run on April 23.
- Two buses carrying 35 passengers will travel
from Dhaka to Siliguri and onwards to Kathmandu.
- The three countries made a schedule to exchange letters
for implementation of Bangladesh, Bhutan, India, Nepal (BBIN) Motor
Vehicles Agreement.
- The success of the trial run will pave the way for
taking a decision for the formal launch of the bus service.
UN launches Road safety trust fund
United Nations’ Deputy Secretary-General Amina
Mohammed announced the launch of the ‘UN Road Safety Trust Fund’ to
stimulate action that can save lives and prevent injuries and sufferings associated
with road accidents.
- The United Nations Road Safety Trust Fund aims to
accelerate progress in improving global road safety by bridging the gaps
in the mobilization of resources for effective action at all levels.
- The Fund will mobilize resources from governments,
intergovernmental or non-governmental organizations, the private sector,
philanthropic organizations and individuals.
- UN Economic Commission for Europe (UNECE) will be the
secretariat for the Trust Fund. It is estimated that every $1,500 contributed
to the Fund could save one life, prevent 10 serious injuries and leverage
$51,000 towards investments in road safety.
The United
Nations Road Safety Trust Fund has the potential to galvanize our global
efforts to address the road safety situation, building on the progress made
and experience gained over the Decade of Action for Road Safety 2011-2020.
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The United Nations is an international organization founded
in 24th of October 1945. It is currently made up of 193
Member States. The Headquarters of UN: New York, USA. Antonio Guterres
is the Secretary-General of United Nations.
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In a first, Tejas takes part in ‘Gagan Shakti’
Indian Air Force’s (IAF) war exercise ‘Gagan Shakti’
involving its entire fleet strength all across its bases in the country is
progressing well.
- Light combat aircraft Tejas, which had so far been only
a technology demonstrator and was recently inducted into IAF.
- In this war game indigenous fighter jet Tejas is taking
part for the first time. Although, the complete squadron of Tejas is
showing its talent.
Gagan
Shakti 2018 is the military exercise began on April 10 and would conclude on
April 23. The IAF has mobilised more than 1,100 combat, transport and rotary
wing (helicopter) aircraft in order to practice the real time scenario. The
day and night exercise, was being conducted along Pakistan border in the
Western areas. The forces will switch to China border in the Northern areas
now.
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Pakistan successfully test fired Babur cruise missile
Pakistan has
successfully test fired an enhanced version of indigenously-built Babur cruise
missile.
- ‘Babur Weapon System-1 (B)’ is a low-flying,
terrain-hugging missile, which carries certain stealth features and is
capable of carrying various types of warheads. It can deliver conventional
and non-conventional weapons with a range of 700 kilometres.
- It incorporates advanced aerodynamics and avionics that
can strike targets both at land and sea with high accuracy.
It is
equipped with the Terrain Contour Matching (TERCOM) and all time Digital
Scene Matching and Area Co-relation (DSMAC) technologies, which enable it to
engage in various types of targets with pinpoint accuracy even in the absence
of GPS navigation.
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L&T, BEL ink MoU for Defence Products
In line with the efforts to indigenize the defence sector
under the ‘Make in India’ initiative, Larsen & Toubro (L&T) and Bharat
Electronics Limited (BEL) signed an MoU to cater to the needs of evolving
domestic and export markets for defence products and systems.
- The MoU seeks to leverage the capabilities of both the
firms for meeting the growing requirements of the Indian Armed Forces.
- The MoU also intends to leverage the well-developed
supply chain, vast experience and expertise of BEL and L&T to
synergise and enhance exports in the defence sector.
Reliance Jio raises Rs.3250 crore from Japanese banks to fund
capital expenditure
Reliance Jio has signed an agreement to raise nearly Rs 3,250
crore as samurai term loan from Japan-based banks.
- Reliance Jio Infocomm Limited said that, it had signed
approximately JPY 53.5 billion samurai term loan with 7 year bullet
maturity.
- The facility is guaranteed by Reliance Industries
Limited. It will be used for funding Reliance Jio Infocomm Limited’s
ongoing capital expenditure.
- With exchange rate of 60 paise per Japanese yen, the
loan value amounts to nearly Rs 3,248 crore.
- This deal is said to be the largest samurai loan (low
interest loans from Japanese investors) for an Asian corporate company.
Vedantaa, Maharashtra’s first private limited
medical college
The state has exempted Vedantaa Institute of Medical Science
from coming under the Free Regulation Authority (FRA).
- Medical education secretary Sanjay Deshmukh said that
this has been allowed because the institute is a “first-of-its-kind
college which is registered as a private limited company established to
make profit.
Kotak Mahindra Bank pips SBI to become India’s
2nd most valuable bank
Shares of private lender Kotak Mahindra Bank Ltd beat
India’s largest lender State Bank of India (SBI) for the first time to become
the second most valued bank in the country.
- Data from BSE showed that Kotak Mahindra Bank has
a market capitalization of Rs2,22,560.69 crore after its
shares rose 1.7%.
- SBI market capitalization stood at Rs2,22,043.74 crore.
Its shares were trading at Rs248.80 on BSE, down 1% from its previous
close.
Commonwealth Heads of Government Meeting begins
in London
The Commonwealth Heads of Government Meeting (CHOGM
2018) has begun in London, the UK.
- Prime Minister Narendra Modi will take part in the event
on 19th and 20th of April.
- The theme of the summit is 'Towards a Common
Future'. The biennial event has brought together delegates from 53
Commonwealth nations.
Smriti Irani inaugurates 7th edition of Home
expo India 2018
The seventh edition of Home Expo India 2018, organised
by Export Promotion Council for Handicrafts (EPCH), was inaugurated
at India Expo Centre & Mart in Greater Noida.
- Union Minister of Textiles Smriti Irani inaugurated
the fair, while Ajay Tamta, Minister of State for Textiles, was the
guest of honour.
- Home Expo India 2018 will generate business deals for
direct import.
Export Promotion Council for Handicrafts (EPCH) was
established under Companies Act in the year 1986-87 and is a non-profit
organisation, with an object to promote, support, protect, maintain and
increase the export of handicrafts. It is an apex body of handicrafts
exporters for promotion of exports of Handicrafts from country and projected
India's image abroad as a reliable supplier of high quality of handicrafts
goods & services and ensured various meausres keeping in view of of
observance of international standards and specification. The Council has
created necessary infrastructure as well as marketing and information
facilities, which are availed both by the members exporters and importers.
The Council is engaged in promotion of handicrafts from India and project
India's image abroad as a reliable supplier of high quality handicrafts.
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India among 170 countries to ink deal to reduce
shipping emissions by 2050
Over 170 countries, including India, signed an agreement in
London earlier this week to reduce carbon dioxide emissions by at least
50percentt.
- The deal is struck after intense negotiations at the c
(IMO).
- The IMO’s commitment to reduce greenhouse gas emissions
by 50 to 100 percent in 2050 is major progress.
The International Maritime Organization (IMO), known as the
Inter-Governmental Maritime Consultative Organization (IMCO) until 1982, is a
specialised agency of the United Nations responsible for regulating shipping.
The IMO was established in Geneva in 1948 and came into force ten years
later, meeting for the first time in 1959. Headquartered in London, United
Kingdom, the IMO currently has 173 Member States and three Associate Members.
The IMO's primary purpose is to develop and maintain a comprehensive
regulatory framework for shipping and its remit today includes safety,
environmental concerns, legal matters, technical co-operation, maritime
security and the efficiency of shipping.
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China’s foreign minister visits Japan for talks
on North Korea, regional issues
Chinese foreign minister Wang Yi was due in Tokyo
for a visit seen as a sign of a gradual thaw between the Asian rivals.
- Wang will meet his Japanese counterpart Taro
Kono with their talks expected to touch on key subjects such as
economic relations, territorial disputes.
- Kono met Wang in China in January when he became the
first Japanese foreign minister to visit the country in nearly two years.
Indian swimmer double crosses Bangla channel,
sets World record
Pune-based 17-year-old swimmer Sampanna Ramesh Shelar has
set a world record to double cross the Bangla Channel.
- Shelar, is the first person to swim to and fro from
Saint Martin's Island Jetty to Teknaf in Bangladesh also known as the
Bangla Channel.
- He has completed the journey of 32.2 kilometres in 9
hours and 10 minutes.
Dharmendra to be conferred with Raj Kapoor
Lifetime achievement award
Veteran Bollywood actor Dharmendra will be conferred
with the prestigious Raj Kapoor Lifetime
Achievement and filmmaker Rajkumar Hirani with Raj Kapoor
Special Contribution awards.
- Maharashtra Culture Minister Vinod Tawde announced the
names of the winners.
- Veteran Marathi actor Vijay Chavhan will receive the V
Shantaram Lifetime Achievement award, while actor-director Mrinal Kulkarni
has been named for V Shantaram Special Contribution awards.
- The state government-instituted awards will be given
away at the 55th Maharashtra State Marathi Film Festival.
In a battle between Saina Nehwal and PV Sindhu,
Indian badminton the winner
Two girls Saina Nehwal and PV Sindhu have emerged as the ones
to beat in the international arena.
- Saina Nehwal defeated PV Sindhu to clinch the women’s
singles gold at the 2018 Commonwealth Games on Sunday.
- Saina rated the title next to the Olympic bronze she won
in London 2012.
- Sindhu has also lost several important finals since the
Rio summit clash, like in India Open (2018), Superseries Finals, Hong Kong
Open, World Championships (all in 2017) and now in Gold Coast.
CWG 2018: India ends campaign in third spot with 26 Gold Medals
The curtains were drawn on the 21st commonwealth
games at Gold Coast, Australia this evening following a colourful ceremony with
legendary Boxer MC Mary Kom leading Indian delegation carrying tricolor.
- Indian competitors ended their campaign in the eleven day
event on the third place, with 66 medals including 26 Gold, 20 Silver and
20 Bronze medals.
- Australia stood first in the medal tally with 198 medals
including 80 Gold, 59 Silver and 59 Bronze followed by England 136 medals
and Canada 82 medals.
