Current Affairs for August 1, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Union Cabinet has approved the increase in the number of Supreme Court’s judges from 31 to 34.
- Delhi Public Library has commenced the Mobile library bus service under its “Ghar Ghar Dastak Ghar Ghar Pustak”
- Purpose: – To provide books to the citizens of Delhi, especially to resettlement colonies, slums and rural areas.
- India’s first Rapid Rail Transit Corridor (RRTS) is being built between Delhi-Uttar Pradesh (17-km-long between Duhai-Sahibabad) and is expected to be operational by early 2023.
- Complete Delhi-Ghaziabad-Meerut RRTS corridor will be operational by 2025.
- Union Cabinet has approved the revised Chit Fund (Amendment) Bill 2019 (revised version of the Chit Funds (Amendment) Bill, 2018).
- It will replace the Chit Fund Act, 1982.
- The 2018 bill allows a chit to be drawn in the presence of at least 2 subscribers.
- It proposed to increase the maximum commission of the person who manages the chit fund to 7% from 5%.
- The 2018 Bill proposed to remove the minimum amount limit of chits at ₹100, and proposed to allow the State government to set the limit of minimum amount of chit fund.
- According to Ministry of Human Resource Development, 2,461 IIT students have dropped out of under-graduation from 23 IIT universities last two years.
- 1,171 of the dropouts, which is 47.5%, are SC/ST/OBCs (almost equivalent to reservation quota of 49.5%).
- IIT-Delhi had recorded the highest number of dropouts at 57% of all dropouts.
- Cabinet has raised the subsidy of sulphur-based fertilizer to ₹350/100kg from ₹277 earlier under the Nutrient-based subsidy.
- The government is expected to incur ₹22,875.50 crore expenditure on total subsidy burden for nutrient-based fertilizers.
New Subsidy Rates
Rs 18.90 per kg
Rs 15.11 per kg
Rs 11.12 per kg
Rs 3.56 per kg
- Cabinet approved the Jammu and Kashmir Reservation (Second Amendment) Bill, 2019, to allow 10% EWS reservation in educational institutions and government jobs alongside existing reservations.
- Pradhan Mantri Shram Yogi Maan-dhan scheme aims to enrol 150 million workers of unorganized sector in this scheme over the next 3 years.
- The scheme was launched in February 2019.
- NITI Aayog’s Atal Community Innovation Centre (ACIC) have been opened up in New Delhi with a focus 484 backward districts to provide access to latest technologies for innovation to these areas.
- India is the 3rd largest consumer of energy in the world.
- These ACIC (opened as part of NITI Aayog’s Atal Innovation Mission) aim to facilitate innovation in energy sector.
- UP government will install a 251-metre-tall statue of Lord Ram in Ayodhya– the tallest statue in the world at 100-acre Digital Park in Ayodhya.
- Andhra Pradesh has passed ‘School Education Regulatory and Monitoring Commission Bill, 2019’ to set up a state commission to monitor the school fees and implement the Right to Education Act, 2009 in the state.
- According to 2011 Census, Andhra Pradesh has the higher number of uneducated people (due to financial burden) at 33% as compared to national average of 26%.
- Wing Commander of Indian Air Force, Tarun Chaudhari has become the first pilot to do a wingsuit skydive jump.
- He jumped off from 8500 feet from Mi-17 helicopter on Kargil Diwas (26 July).
- IIT-Kharagpur and Tata Medical Centre have partnered to set up the first-of-its-kind Comprehensive Digital Archive of Cancer Imaging (CHAVI).
- CHAVI is being opened under the National Digital Library Initiative of the Ministry of Human Resource Development.
- It will set up a data of images for cancer patients and for radio oncology (a method of controlled use of radiation to treat cancer).
- IIT-Kanpur and IIT-Lucknow based Central Drug Research Institute (CDRI) has devised a molecular framework to destroy superbugs.
- Superbugs is a drug-resistant bacteria that is estimated to kill 10 million people across the globe by 2050.
- USA will incur foreign military sales worth $670 million to support C-17 military transport aircraft of India.
- Purpose: – To increase ability of C-17 to provide Humanitarian Assistance and Disaster Relief (HA/DR) assistance in the Indo-Pacific region.
- According to Ministry of Environment, Forest and Climate Change (MoEFCC), Chhattisgarh and Telangana processed the maximum of its solid waste as of Nov. 2018.
- Chhattisgarh processed almost 84% of its total 601,885 metric tonne per annum (MTPA) of solid waste generated.
- Telangana generated a total 2,690,415 MTPA and processed 73% of it.
- Maharashtra was the top solid waste producing state with 8,22,38,050 MTPA and processed only 44% of it.
- UK and India launched a joint initiative- “Innovation for Clean Air” for two years to provide opportunities to various stakeholders to test interventions related to air quality and e-Vehicle integration.
- Partners: – Indian Institute of Science- Bangalore (IISc), Confederation of Indian Industries, C40 Cities and Clean Air Platform.
- Ministry of Tourism is developing various areas in India into theme based tourist circuits to promote tourism under the Swadesh Darshan Scheme.
- Themes of the circuit are: Spiritual, Ramayana, Krishna, Buddhist, Tirthankar.
- Swadesh Darshan Scheme was launched by Ministry of Tourism in 2014-15 to develop theme-based tourist circuits across India.
- Cabinet approved the MoU signed between ISRO and Bolivian Space Agency to co-operate in the Exploration and Uses of Outer Space.
- Union Cabinet has approved the MoU between India and Bahrain on co-operation in the Exploration and Uses of Outer Space.
- Union cabinet approved the signing of United Nations Convention on International Settlement Agreements (UNISA) to provide an efficient framework for the enforcement of agreements resulting from mediation.
- It will assure foreign investors about India’s commitment to adhere to international practice on Alternative Dispute Resolution.
- Cabinet approved to set up ISRO Technical Liaison Unit (ITLU) in Moscow, Russia.
- It will enable ISRO to collaborate with Space agencies in Russia and neighbouring countries.
- It is the 3rd unit, previous two units were established in (Washington) USA and (Paris) France.
- For the first time, the 22nd edition of National Conference on e-Governance 2019 will be held in North-eastern India (in Shillong, Meghalaya).
- Theme: – ‘Digital India: Success to Excellence’.
- Organizer: – Ministry of Electronics and Information Technology, Meghalaya Government and Department of Administrative Reforms and Public Grievances (DARPG).
- Sri Lanka has exempted visa fees for Indian tourists.
- Now, India is among 48 countries which have been exempted from visa fees by Sri Lanka.
- India gave $100 million line of credit to Benin (West African country).
- India also has a duty-free tariff preference scheme for Benin’s exports which grew to $376 million (more than 68%) in 2018.
- India & Benin signed agreement for making e-Arogyabharati (tele-medicine) and e-Vidyabharati (tele-education) initiatives available in Benin.
- QS (Quacquarelli Symonds) Best Student Cities Ranking 2019, ranks London as the world’s best city for students for the 2nd consecutive year followed by Tokyo and Melbourne.
- Bengaluru (global rank- 81) is India’s best student city, followed by Mumbai (global rank- 85), out of a total of 120 cities.
BANKING AND ECONOMY
- Ministry of Commerce and Industry released the Index of Industrial Production (IIP), rose by 0.2%, higher than June, 2018.
- IIPs include 8 Core Industries which constitutes 40.27% of the index.
- The combined Index of Eight Core Industries was at 131.4 in June, 2019, which was 0.2% higher than June, 2018.
- Its cumulative growth during April to June, 2019-20 was 3.5 per cent.
Growth in % (from 2018)
Cumulative Index (from April to June 2019)- (‘-‘ indicates decline)
Crude Oil production
Natural Gas production
Petroleum Refinery production
- Department for Promotion of Industry and Internal Trade (DPIIT) mentioned that India received the highest-ever Foreign Direct Investment inflow of $64.37 billion in 2018-19.
- FDI inflow was $60.98 billion in 2017-18.
- ICRA has reduced the term loan rating of Coffee Day Enterprises Ltd. (CDEL) under ‘rating watch with negative implications’.
- According to Controller General of Accounts (CGA) data, the fiscal deficit has increased to 61.4% at ₹4.32 lakh crore of the Budget Estimate for 2019-20 at the end of June quarter.
- The estimated the fiscal deficit was ₹7.03 lakh crore during 2019-20.
- Fiscal deficit was 7% of the 2018-19 Budget Estimate in 2018.
- Invesco Oppenheimer has bought 11% stake of Essel group in Zee Entertainment Enterprise Ltd. for Rs 4224 cr.
- SS Deswal has been appointed as the Director General of National Security Guard (NSG).
- He is the current DG of Indo-Tibetan Border force and NSG is an additional charge for him.
- Kapil Dev will be awarded with the Bharat Gaurav – highest honour of The East Bengal football club.
- Dinesh Tiwari (Advocate) has been awarded with ‘The Society Global Indian Icon Award 2019′, by the Society Magazine.
- Reason: – His excellence in the field of law.
- Ellyse Perry (Australian) has become the first cricketer (of either gender) to score 1000 runs and take 100 wickets in T20 format during the women’s Ashes tour in England.
2. For the first time, Oval cricket ground (in England) has named a room after a woman player- Janette Brittin in the member’s pavilion.
- Janette Brittin is one of the pioneers of women’s cricket and a legend woman cricketer from England.
- Vidit Gujrathi has won the Biel International Chess Festival held in Biel, Switzerland.
- The fossils of the world’s smallest monkey (lived 18 million years ago) have been discovered in Amazon forests by Duke University (USA) and National University of Piura (Peru).
- It was published in journal Human Evolution.
- NASA’s Transiting Exoplanet Survey Satellite (TESS) has discovered TOI 270– a new dwarf star and planetary system which is located about 73 light years away from Earth, in the constellation Pictor.