Daily Current affairs - August 3rd, 2018 for all competitive exams
Loksabha passed 123rd Constitutional Amendment Bill
The Lok Sabha
has passed the 123rd Constitutional Amendment Bill providing for a National Commission for Backward Classes as
a constitutional body.
- The
bill provides for the grant of constitutional status to the National
Commission for Backward Classes (NCBC) on par with the
National Commission for Scheduled Castes and the National Commission for
Scheduled Tribes.
- It
states that the President may specify the socially and educationally
backward classes in the various states and union territories. He may do
this in consultation with the Governor of the concerned state.
- The
duties of the NCBC include
investigating and monitoring how safeguards provided to the backward
classes under the Constitution and other laws are being implemented and
probe specific complaints regarding violation of rights.
- The
NCBC will be required to present annual reports to the President on
working of the safeguards for backward classes. These reports will
be tabled in Parliament, and in the state legislative assemblies of the
concerned states.
Present status of NCBC:
The Supreme
Court, in its final verdict in the Indira Sawhney (Mandal Commission) case,
had directed the establishment of the NCBC as a statutory body. Based on
this, a law was passed in 1993 to set up the commission. The NCBC has been
examining cases for inclusion in the BC lists for the Central government
since then.
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NITI Aayog launched Move Hack, a global mobility hackathon
NITI Aayog has
launched Move Hack, a global mobility hackathon to
crowdsource solutions aimed at the future of mobility in India.
The hackathon
has a two-pronged campaign approach:
1. “Just
Code It”: aimed at solutions through innovations in technology/product/software
and data analysis.
2. “Just
Solve It”: innovative business ideas or sustainable solutions to transform
mobility infrastructure through technology.
Move Hack is focused on 10 themes and structured over three
legs: online, followed by Singapore leg, and the finals in New Delhi.
- The
winners will be announced during the Move Summit 2018, which is also
organized by NITI Aayog in September 2018 in New Delhi. Awards for the
hackathon include recognizing top 10 winners, with total prize of more
than Rs. 2 crores.
141st birth anniversary of Pingali Venkayya observed on
August 2
141st birth
anniversary of freedom fighter and designer of Indian National Flag Pingali
Venkayya was observed on August 2, 2018.
- Pingali
Venkayya was a freedom fighter and the designer of the Indian
National Tricolour. The national flag that we see today was
based upon his design.
- Initially,
Venkayya came up with saffron and green colours, but it later evolved with
a spinning wheel at the centre and a third colour-white. (LALA HANS RAJ
SONDHI SUGGESTED ADDING A SPINNING WHEEL — SHOWING THE INDEPENDENT INDIANS
WHO CAN SPIN THEIR OWN CLOTHING FROM LOCAL FIBRES.)
- The
flag was officially adopted by the Indian National Congress in 1931.
India's GDP growth to rise to 7.5% this fiscal:
Morgan Stanley
India's economy is expected to clock GDP growth of 7.5% in
this financial year according to a Morgan Stanley report.
- In
aggregate, the report expects GDP growth to pick up to 7.5% in
this financial year as against 6.7% in 2017-18.
- The
report forecasts Consumer Price Index (CPI) inflation to remain
slightly above the inflation target of 4% and the current account deficit below
2.5% of GDP.
Mukhyamantri Yuva Nestam: Andhra Pradesh
Government launches unemployment allowance scheme
Andhra Pradesh Government has approved Mukhyamantri Yuva
Nestam, an unemployment allowance scheme to provide Rs 1000 per month
unemployed youth in state in the age group of 22-35 years. It was announced by
Andhra Pradesh IT Minister Nara Lokesh.
- The
Chief Minister will launch the programme after completion of the online
registration of unemployed youth in the State. The unemployment dole would
be distributed through biometric system to youth in their villages.
Startup India Yatra launched in Chhattisgarh
The Startup India Yatra launched in Raipur, the capital city
of Chattisgarh. Startup India is a flagship initiative of the Government
of India.
- Aim:-
To promote job creation in tier 2 and tier 3 towns and cities. Main
pillars of the program are Simplification and Hand Holding Funding Support
and Incentives Industry Academia Partnership and incubation
World's 1st Hindi-Speaking Robot 'Rashmi'
Ranchi-based software developer Ranjit Srivastava is
developing the world's first Hindi-speaking humanoid robot, claimed
to cost just Rs50,000 so far.
- Named
Rashmi, the AI-powered robot can also speak Bhojpuri, Marathi, and
English, and is equipped with facial expressions and recognition systems.
He was inspired to create Rashmi after seeing Hong Kong-made humanoid
'Sophia' in 2016.
UAE launches amnesty programme to aid foreign
visa violators
The United Arab Emirates (UAE) launched a landmark
three-month visa amnesty programme, which will benefit hundreds of illegal
foreign workers, including Indians, who are overstaying their permits in the
gulf nation.
- The
programme will allow the workers to leave the country without paying
penalty and it will also give them six months to find a job.
DRDO successfully conducted Ballistic missile interceptor AAD
DRDO conducted
the successful test of the Ballistic Missile Interceptor Advanced Area Defence
(AAD) from Abdul Kalam Island, Odisha.
- Ballistic
Missile Interceptor AAD is an endo-atmospheric missile, capable of intercepting incoming targets at an altitude of
15 to 25 kms.
- Indigenously
developed by DRDO, the AAD interceptor is
a single-stage missile powered by solid propellants.
- It
has been developed as part of indegenous efforts to have multi-layer
ballistic missile defence system, capable of destroying
incoming hostile ballistic missiles.
- It
is 7.5 metres tall and weighs around 1.2 tonnes.
- The
interceptor missile has its own mobile launcher, secure data link for
interception, independent tracking and homing capabilities and
sophisticated radars.
The Indian Ballistic Missile Defence (BMD)
Programme is an attempt to develop and to use a multi-layered
ballistic missile defence system to protect from ballistic missile attacks.
The India’s decision to develop Ballistic Missile Defense (BMD) was
introduced in the light of the ballistic missile threat mainly from Pakistan,
especially can be attributed to the Kargil War in 1999.
India
follows ‘No First Use policy‘. A robust BMD provides an opportunity to the
nation to strike back if a nuclear projectile is launched by an enemy state.
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Apple becomes 1st US-based company with market
value of $1 trillion
Apple Inc. became the first US-based company with a
market value of $1 trillion, four decades after it was co-founded by Steve
Jobs in a Silicon Valley garage.
- The
consumer-technology giant briefly touched the milestone in New York, based
on share count data the company disclosed in a recent regulatory
filing.
- PetroChina
Co. briefly crossed that valuation in late 2007 but slumped quickly as oil
prices collapsed in the financial crisis.
RBI has given approval to State Bank of
Mauritius to operate in the country
RBI has given approval to State Bank of Mauritiusto
operate in the country through a wholly-owned subsidiary route under the
name SBM Bank (India).
- It
is the first such bank to get such approval. The bank will operate as
a subsidiary to SBM group that has been operational since 1994.
- Currently
it has 4 operational branches in Mumbai, Chennai, Hyderabad
and Ramachandrapuram.
- It
would expand its operation by opening 6 new branches in Kolkata,
Delhi, Bangalore, Pune, Ahmedabad and Jaipur by 2019.
India and USA military cooperation meeting
begins in New Delhi
The meeting was co-chaired by Lt Gen Satish Dua, Chief of
Integrated Defence Staff to the chairman, Chiefs of Staff Committee (CISC) and
Lt Gen Bryan Fenton, Deputy Commander, Indo-Pacific Command.
- External
Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman would meet
their US counterparts in 2 plus 2 meeting in September in New
Delhi.
- The
main aim of the meeting is on strengthening defense and strategic ties.
Fortune 500 list of World's largest companies
released
Seven Indian companies have been listed in Fortune’s 500
list 2018 of world biggest corporations. Indian Oil Corporation (IOC) is
the highest ranked company from India followed by RIL which jumped 55 places.
The US-based retail company, Walmart has topped the list.
- IOC
ranked 137th in 2018 with a significant jump from 168th position from
2017. RIL is the top private sector company in India. It ranked
148th in 2018 from 203rd from 2017.
- ONGC
ranked 197th in 2018 which not even featured in 2017. SBI got 216th
rank 1 place higher than 217th in 2017.
- The
Top 3 companies on the list are: Walmart (the USA), State Grid
(China) and Sinopec Group (China).
