July 4, 2018
- The Cabinet Committee on Economic Affairs (CCEA) will approve the support price for
kharifcrops and is likely to raise the Minimum Support Price (MSP) for paddy by ₹200 to ₹1,750 a quintal.
- It will be done to
honourthe budget announcement to ensure farmers get at least 1.5 times the production cost.
- It will be done to
- The government will change the base year for calculation of GDP and retail inflation to 2017-18 and 2018 respectively.
- Which is likely to come into effect by 2019-20.
- The last base year for GDP, Index of Industrial Production and Consumer Price Index was revised to 2011-12 and 2012 (for inflation).
- An upgraded version of the Unified Payments Interface, UPI 2.0, is expected to be launched.
- The National Payments Corporation of India (NPCI), which manages the UPI platform, presented a demonstration of UPI 2.0.
- NPCI is the umbrella organization for all retail payments in the country.
- UPI is a payments system that facilitates instant fund transfer between two bank accounts on a mobile platform, without requiring any detail of the beneficiary’s bank account.
- UPI 2.0 will have additional features such as generating collect payment requests along with invoice/ bill attachment,
one-timemandate with block functionality, signed intent/quick response code, adding of overdraft account type in UPI and foreign inward remittance.
centreis considering a proposal to introduce pulses under the subsidized Public Distribution System (PDS) in 200 districts faring the worst on nutrition parameters.
- The idea behind the scheme is driven by the fact that central agencies are stocked with 5 million tonnes of pulses following a record production last year.
- The plan is to provide about 70 million households in selected districts with 2kg of pulses every month at prices which are at least 50% cheaper than the market.
- Government data on nutritional indicators show that in India 4% of all children under five are stunted, or have
lowerheight for their age.
- According to the United Nation’s Food and Agriculture Organization, pulses are nutritional powerhouses loaded with protein and dietary
fibrewhich can help address malnutrition problems in developing countries.
- The government will release the Quarterly Employment Survey Data, based on the new Periodic Labour Force Surveys (PLFS) conducted by the Statistics Department, in December.
- PLFS will measure quarterly changes in urban employment and annual changes in employment in both rural and urban areas.
- It was launched in April 2017.
- The nodal agency, the National Sample Survey Office, is for the first time using the computer-assisted personal interviewing method to capture data on tablets.
- Niti Aayog will prepare a blueprint for the transportation sector jointly with state governments to help achieve goals of electric mobility, wider renewable energy use
- The authenticity of Thanjavur paintings can be checked through Raman Spectroscopy.
- Thanjavur paintings have Geographical Indication tags.
- Thanjavur painting is a classical South Indian painting style spread across Tamil Nadu.
- Raman spectroscopy is one of the vibrational spectroscopic techniques used to provide information on molecular vibrations and crystal structures.
- The Rajasthan government will provide milk thrice a week to 62 lakh children studying in government schools and madrasas under its Annapurna Milk Scheme.
- Students till Class 5 will get 150 ml of hot milk thrice a week while those in Class 6 to 8 will get 200 ml milk.
- The Chief Justice of Madras High Court, Indira Banerjee, has been selected by the Supreme Court for the second time to head an In-House Inquiry Committee to probe allegations of impropriety against sitting High Court judges in other States.
- High Court Judges- Justices Indrajit Mahanty and Sangam Kumar Sahoo of the Odisha High Court since 2016.
- The Election Commission launched an Android-based mobile application named “
cVigil” for citizens to share proof of malpractices by political parties, their candidates andactivists when the Model Code of Conduct is in force.
- The mobile application also facilitates sharing of geo-tagged photographic and video evidence without disclosing the identity of the sender.
- Delhi Chief Minister Arvind Kejriwal launched the “Happiness Curriculum” for students of
nurseryto Class 8 in government schools .
- The curriculum was launched in the presence of the Dalai Lama.
- According to the curriculum, Students across schools can expect a ‘happiness’ period of 45 minutes.
- Each class will begin with a five-minute meditation.
- Jharkhand Chief Minister Raghubar Das announced that Jharkhand will have the first ‘Khadi Mall’ of the country.
- It will be developed by
- It will be developed by
- The Chhattisgarh government set up a tribal museum in the state’s upcoming new capital Naya Raipur.
- The Centre has announced a State-of-The-Art E-Waste Recycling Unit for Bengaluru, India’s technology capital.
- It will be India’s first such unit in the government sector.
BANKING AND ECONOMY
- The Supreme Court refused to stay a Reserve Bank of India (RBI) circular prohibiting banks and financial institutions from dealing in virtual currencies such as Bitcoin
. Withno interim stay on the circular, all virtual currency transactions through banks would be blocked from 6 July, effectively resulting in a ban.
- The Multi Commodity Exchange of India (MCX), the country’s largest commodity bourse in terms of market share, plans to enter the currency derivatives segment.
- Mohit Gupta has been named as the Chief Executive Officer (CEO) of Food-tech start-up Zomato Media Pvt. Ltd.
- On 4th July 2018, the 242nd America Independence Day was celebrated in the United States.
- Independence Day in America marks the date back in 1776 when Americans broke away from being ruled by the British, who had been on the continent since the 16th Century.
- Professor Ravinder Dahiya, an Indian-origin scientist working on a project to create a robotic hand covered in so-called Brainy Skin that mimics the human sense of touch has won 1.5 million
poundas funding for the project.
- Brainy skin is critical for the autonomy of robots and for a safe human-robot interaction to meet emerging societal needs such as helping the elderly.
- SoundLogic has roped in India’s most successful captain, Mahendra Singh Dhoni, as a Partner-Evangelist.
- Evangelism marketing is an advanced form of word-of-mouth marketing in which companies develop customers who believe so strongly in a particular product or service that they freely try to convince others to buy and use it.
- Australia won the Champions Trophy hockey 2018 in Breda, the Netherlands.
- US Food and Drug Administration (FDA) for the first time approved the use of Epidiolex, an oral solution made from marijuana, for the treatment of seizures related to 2 rare and severe forms of epilepsy.
- Former Chief of Naval Staff Admiral JG Nadkarni died.