Current Affairs for July 8, 2019
BANKING AND ECONOMY
- PM Narendra Modi unveiled the statue of 2nd Prime Minister of India- Lal Bahadur Shastri at the Varanasi International Airport.
- After unveiling the statue, he launched a tree plantation drive.
- The official name of Varanasi International Airport is Lal Bahudar Shastri Airport.
- 3rd edition of International Sunflower Seed and Oil Conference (ISSOC) 2019 was held in Mumbai, Maharashtra.
- Host: – Solvent Extractors’ Association of India (SEA) & organized by International Sunflower Oil Association (ISOA).
- 1st edition was held in 2015 at Shanghai, China and 2nd edition was held in 2017 at Odessa, Ukraine.
- India is the largest importer of sunflower oil with imports of about 8 million tonnes (MT) whereas global imports of sunflower oil is around 9.6 MT.
- Jaipur has been included in the World Heritage Site of UNESCO during the 43rd meeting of World Heritage Committee in Baku, Azerbaijan.
- Total 29 sites were included this year, taking the total number of sites to 1,121.
Other sites included in UNESCO’s World Heritage Site
|Budj Bim Cultural Landscape, is the first Aboriginal site, to be included in the World Heritage Site list.|
|Iran’s Hyrcanian Forests.|
|Italy’s hills of Conegliano and Valdobbiadene, which produces world-famous sparkling wine Prosecco.|
- Indian Army and National eGovernance Division (a part of Ministry of Electronics and Information Technology) signed MoU to revamp Management Information Systems Organisation (MISO).
- Function:- It maintains the centralised database for personnel, equipment and major stores to provide management-related information to Headquarters of Ministry of Defence (Army) and other agencies.
- MISO is operated under the Directorate General of Information Systems.
- A book named ‘Vivekadeepini’ has been released by Vice President, Venkaiah Naidu.
- It is a summary ofPrashnottara Ratnamalika book, written by Adi Shankaracharya (an 8th century Indian philosopher and theologian).
- It has been translated into 10 languages: – English, Hindi, Bengali, Kannada, Telugu, Tamil, Malayalam, Marathi, Gujarati and Odia.
- Border Security Force has launched ‘Operation Sudarshan’ to fortify/strengthen the ‘anti-infiltration grid’– in Jammu and Punjab alongside International border between India and Pakistan.
- The length of International border between India and Pakistan is 485 km in Jammu and 553 km in Punjab (a total of 1,000 km).
- Purpose: – To strengthen vigilance along the border to curb infiltration (trespass) into India.
- Asia’s first Six Sigma Institute of Mountain Medicines and High Altitude Rescue is set to be established at Rudraprayag district in Uttarakhand.
- Function: – It will provide mountain medicinal, training and research
- It will be the ‘First’ high altitude institute dealing with health problems related to mountains and high altitudes.
- Six Sigma health care will set up this institute at a cost of Rs 750 crore.
- Delhi Police Crime Branch has rescued 333 children in Delhi who were missing since January 2019 from various parts of the country as part of its ‘Operation Milap’.
- Operation Milap was launched in 2014 to rescue missing children. It is being undertaken by the ‘Anti Human Trafficking Unit’ (AHTU) of Delhi Police.
9. Environment Impact Assessment Notification, 2019 proposes to set up “District Environment Impact Assessment Authority” under the leadership of District Magistrate (DM).
- Aim: – It will grant environment clearance for “minor” mining projects.
- State level officials have objected to various clauses of this draft.
- PM Narendra Modi will be the chief guest at the Eastern Economic Forum to be held in Vladivostok, Russia.
- Sri Lanka’s first model village has been built at Ranidugama in Gampaha under the ‘Model Village Program’ of Sri Lanka.
- ‘Model Village Program’ :- Aims to help war affected people and estate workers by providing houses.
India and Sri Lanka have partnered to build 100 model villages (consisting a total of 2400 houses) all across Sri Lanka under the Indian Housing Project- initiated for war affected people in north and east Sri Lanka and estate workers in plantation areas of the country.
These 2400 houses are an addition to 60000 houses built with a grant of Rs.1,200 million ($17.5 million).
BANKING AND ECONOMY
- USA’s sanctions on Iran’s Chabahar port and Pakistan’s restriction on airspace will hamper India’s trade with Afghanistan.
- India, which used to allocate ₹150 crore for developing this port for past few years, has reduced the budgetary allocation to ₹45 crore for it in the Budget for 2019-20.
- USA has given waivers to India for developing this port.
- The allocation of funds in the Budget 2019-20 for tri-services (army, navy, air force) is less than the committed liabilities of these services.
- Budget 2019-20 allocation of funds for health has been increase by 0.05%, from 3.24% in the 2018-19 to 3.29% in the current fiscal with a grant of ₹91,644.29 crore.
- NGO Child Rights and You has conducted the analysis of budget on four areas of child rights — education, health, development and child protection.
- Fiscal deficit target has been lowered to 3.3% of GDP in Union Budget 2019-20, as the government is expecting additional revenue of ₹6,000 crore.
- It is lower than the 3.4% target set in interim budget.
- Budget 2019 states that Central government provides partial guarantee to banks for giving credit to NBFCs as a boost to NBFCs.
- Gross non-performing assets (NPAs) of NBFCs as of 31 March 2019 stood at 6.60%.
- Public sector banks’ gross NPAs stood at 12.6% as of 31 March 2019.
- Budget 2019: surcharge on individuals earning ₹2-5 crore a year will be raised to 25%.
- For those earning more than ₹5 crore, it was increased to 37%.
- The effective income tax rate on the two highest slabs of income earners will be raised to 39% and 42.7%, respectively.
- Deutsche Bank (headquartered in Frankfurt, Germany) plans to shut the majority of its equities businesses in Asia-Pacific region as part of a restructuring.
- The bank will cut 18,000 jobs for a global headcount of around 74,000 employees by 2022.
- Budget 2019: – Social Stock Exchanges will be set up to encourage listing of social enterprises, or organizations working for social welfare under Sebi’s guidance.
- Purpose: – To empower social welfare groups to raise funds through markets.
- Central Board of Direct Taxes (CBDT) has announced that fresh pan cards will be issued to those who fill income tax with Aadhaar card.
- Budget 2019: – provides that biometric ID will be enough for I-T filling.
- Christine Lagarde (current CEO of International Monetary Fund), has become first female president European Central Bank.
- Jammu and Kashmir Bank has appointed Rajni Saraf as its Chief Financial Officer.
- Arinjeeta Dey (aged 10) won the silver medal in World Youth Cup 2019 in Umag, Croatia.
- Organizer: – World Karate Federation (affiliated to the International Olympic Association).
- USA’s women’s team won the FIFA Women’s World Cup 2019 after beating Netherlands held in, Rio de Janeiro, France.
- Brazil has won the Copa America (football tournament) 2019 held in Brazil.
- It is 9th Copa America title of Brazil after a gap of 12 years since 2007.
- It is organized by South America’s football ruling body CONMEBOL.
- 2nd edition of Intercontinental Cup/Hero Intercontinental Cup for sponsorship reasons 2019 (football) is being held at EKA Arena in Ahmedabad, India.
- It is a 4-team football tournament being played among Tajikistan, Syria, North Korea and India.
- G. Kosanov memorial international athletics meet was held at Almaty, Kazakhstan.
- Gold Medals to India: – Mohammed Salahuddin, M. Sreeshankar, Sahil Silwal
- Silver Medals to India: – Mohammed Zuber, Rohit Yadav.
- Saritaben Gayakwad won the women’s 400m gold in the Kutno international meet in Poland.
- “Amit Shah and the March of the BJP” book on politician Amit Shah has been written by Anirban Ganguly and Shiwanand Dwivedi and published by Bloomsbury India.
COMPLETE UNION BUDGET HAS BEEN COVERED IN THIS VIDEO: –