Current Affairs Today – April 27 2016

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INDIAN AFFAIRS

Uttarkhand Government to be first stable to buy short-term power through e-auction

The Government will start to buy short term power procurement through e-auction with nine biddings

• The State has decided to buy 100-200 Megawatt short term power for the months July, August and September
• The term of the power procurement is ranging from a day to a year
• Bidders including power generators, traders and distribution companies had registered their wishes to take part in the bidding after the launch of the e-auction portal

Shyam Benegal panel submits report on censor board

Film maker Shyam Benegal headed committee constituted by the Information and Broadcasting ministry to suggest measures to help Board members understand the distinctions of film certification of the censor board submitted its report to I&B minister Arun Jaitly.

• The committee suggested that the Central Board of Film Certification can decline certification if a film having anything that contravenes the provisions of Section 5B (1) of the Cinematograph Act, 1952.
• CBFC head will only plays the role of a guiding mechanism for the body, and not be involved in the day-to-day activities regarding the certification of films.

India hosts Heart of Asia Conference for the year 2016

India hosts Heart of Asia Conference on 26^th April 2016

Venue: New Delhi

Objective:

• Bringing peace and Stability to Afghanistan and enhancing up its reconstruction
• Focusing on investment growth and connectivity to the country

Delegates: Officials of a number of countries including Pakistan Foreign Secretary Aizaz Ahmed Chaudhry

Issues discussed: Combating challenge of extremism and terrorism

Union Railway Ministry to set up Rs 1 lakh crore Rashtriya Rail Sanraksha Kosh

Ministry of Railways has pledged to set up a 1 lakh crore rupees safety fund called Rashtriya Rail Sanraksha Kosh which aimed to strengthen safety measures on the rail network to prevent accidents.

• The announced fund will help to accomplish railway’s zero-accident mission by strengthening the safety measures on the rail network in a comprehensive way.
• The fund will be a non-lapsable in nature which will be make use of safety measures.
• Rashtriya rail fund will be also used for replacement and upgrading of signaling system, improvement and up gradation of rolling stock, replacement of electrical assets and human resource development.

Haryana notifies scheme to encourage water harvesting in MSMEs

Government of Haryana has notified Water Audit Scheme for Micro Small and Medium Enterprises (MSMEs) to fillip water harvesting and conservation in industrial units.

• The move involves measuring the actual water consumption of various gadgets used in the premises of the enterprise, comparing it with an estimate of the minimum water required to undertake the process and establishing technically and economically feasible means to achieve the same.
• It envisages to optimize the water consumption principal to water saving and cutting down water consumption bills.
• Under the fund 75 per cent reimbursement of cost of water audit limited to a maximum of Rs 1 lakh and subsidy up to 50 per cent or maximum of Rs 20 lakh on the cost of capital equipment required for water conservation or harvesting systems.

Naval detachment set up at Lakshadweep

Indian Navy set up a new naval detachment at Androth islands of Lakshadweep as part of measures to enhance surveillance of crucial shipping lanes.

• Lakshadweep and Minicoy Islands occupy a strategic location in the Arabian Sea, These Naval Detachment at Androth Island will improve the Navy’s reach and surveillance, and contribute significantly to strengthen maritime security and stability.
• Earlier the naval detachment at Kavaratti was specially made as a naval establishment, INS Dweeprakshak, in 2012.
• This facility will function as an observance and reporting organisation. It will also provide connectivity with mainland.

Panel suggests fine or jail for celebs in misleading ads

Parliamentary Standing Committee has been formed to tackle misleading advertising as well as to fix liability on endorsers/celebrities.

• The committee to be headed by MP J C Divakar Reddy advocated that the Department of Consumer Affairs should be empowered to make laws to regulate growing sectors of e-commerce, direct selling and multi-level marketing where consumer complaints are on the rise.
• The panel suggests that for first time offence the violator may be penalised with either a fine of Rs 10 lakh or imprisonment up to two years or both. For second time offence a fine of Rs 50 lakh and imprisonment of five years.

INTERNATIONAL AFFAIRS

Saudi Arabia unveiled Vision 2030 cutting reliance on oil

Saudi Arabia kingdom has approved the Vision 2030, along term economic reform plan. The Blue Print charts out the roadmap to broaden the country’s economy in next 14 years and to ensure reduction in oil dependency and to live without oil by 2020.

• It envisions forming Investment fund from the Public, offering affordable housing and providing expats long-term residence among others.

Disinvestment in Aramco: The project, which includes plan that the Kingdom would sell up to 5% of shares in the 2$ trillion Aramco is probably the world largest oil company.

Oil Dependency: Oil prices pushed the Kingdom’s into a budget deficit of nearly $100 billion last year and a projected deficit this year of $87 billion.

Saudi Arabia:

• Saudi Arabia possesses about 16% of the oil reserves It is the world’s largest exporter of petroleum liquids and the industry relies on almost half of its GDP.
• Saudi Arabia was a founding member of OPEC in 1960.

Bangladesh brings in law to impeach Supreme Court judges

Bangladesh government passed a draft of the Bangladesh Supreme Court Judge (Investigation Act) 2016.

• It will empower the Parliament to impeach the Supreme Court judges for misbehavior and incapacity as well as physical and mental incapability.
• The proposed law allows any citizen with evidence can submit allegations of misconduct or incapacity against a Supreme Court judge to the Speaker of Parliament.
• The Speaker will then form a 10-member parliamentary body will investigate the allegations with former a Supreme Court judge, a former Attorney-General and noted jurists to review the primary report.

Bangladesh:

• East Pakistan became Bangladesh in 1971 after a war of independence against Pakistan.
• Bangladesh has the third largest Muslim population in the world next to Indonesia and Pakistan.

BANKING & FINANCE

NABARD lent 1000 crore rupees to HSWC for wheat procurement

Mumbai based National Bank for Agriculture and Rural Development (NABARD) has sanctioned a loan of 1000 crore rupees to Haryana State Warehousing Corporation (HSWC).

• The loan aimed for the purchase of wheat during the ongoing Rabi marketing season.
• Earlier NABARD had disbursed an amount of 500 crore rupees to the corporation for paddy procurement.
• The loan will help the HSWC for payment of wheat purchased from farmers in various mandis/outlets in the state to pay the farmers’ dues at the earliest.
• The Haryana Food and Supplies Department anticipates around 75 lakh metric tonnes of wheat in the current season.

NABARD:

• Mumbai based NABARD was established on the recommendation of Sivaraman Committee in 1982.

Wheat Producer:

• Uttar Pradeshis the largest producer of wheat, accounting for over 34 per cent of the wheat produced in the country.

IT department to pay interest on TDS refund

The Income Tax Department planned to add interest to delayed refunds made against excess TDS deductions and will also not litigate with the deductor on this issue in the future.

• Finance Ministry governed Central Board of Direct Taxes (CBDT) has issued a directive in this regard to the assessing officers of the Income Tax Department based on a 2014 Supreme Court order.
• Tax deducted at source (TDS) as the very name infers aims at collection of revenue at the very source of income.

Experian India launches new fraud solution for banking and insurance

Information services company Experian has launched Hunter Fraud Score a new scoring mechanism that measures the probability of fraud in a credit application across the banking and insurance industries.

• Earlier the company had launched the Hunter Fraud Management Services for the Insurance sector in India in March this year and have 6 life insurance companies going live this month.
• This iniative will help retail finance providers and insurance companies in India significantly increase their efficiency in fraud detection.
• This will enable them to possibly lower their fraud losses and focus on approving applications from genuine customers.

BUSINESS

Government to sell 11.36% stake in NHPC

Union government in line to sell 36% of stakes through offer for sale mode in Faridabad based Hydropower generation company NHPC to raise approximately Rs 2,700 crore which will pave the way for Rs 56,500-crore disinvestment Programme this fiscal.

• The stake sale in NHPC comprising 1.25 billion shares is the first disinvestment for the financial year.
• Union government currently holds 96 per cent in the hydro power public sector enterprise (PSEs).
• Recently rechristened Department of Investment and Public Asset Management (DIPAM) also called the bids to manage the government’s 10 per cent stake sale in Oil India that could raise about Rs 1,900 crore.

AWARDS & RECOGNITIONS

Jagendra Singh gets press club award for bravery in Journalism

Uttar Pradesh based brave journalist Jagendra Singh, who was killed allegedly for expresses his thoughts on illegal sand mining and other misbehavior activities

• Jagendra Singh honoured posthumously with “RedInk Veer Patrakar Puraskar”

Other Awardees:

25 other journalists were awarded for their contribtuion at the function.

1. T N Ninan, Chairman and Editorial Director of Business Standard – Lifetime Achievement award
2. NDTV India’s senior Executive Editor Ravish Kumar – the ‘Journalist of the year’ award.

Pak radio journalist Misha Euceph selected for prestigious WHCA scholarship

Pakistani Misha Eucepha radio journalist in the US is among 18 budding journalists selected for the prestigious annual scholarship of the White House Correspondents Association.

• Misha from Rawalpindi is the beneficiary of a USD 5,000 grant through the WHCA to help finance a post-graduate degree for a student.
• The scholarship would be presented by US Presidentand the First Lady Michelle Obama.

Misha Eucephh:

• Misha is a Chicago-based radio broadcast journalist, is pursuing a Master’s of Science in journalism at Medill.

APPOINTMENTS & RESIGNS

Sangey re-elected PM of Tibetan ‘govt-in-exile’

National Democratic Party candidate Lobsang Sangay has been re-elected prime minister of the Tibetan government-in-exile in voting.

• Sangay crushed his only rival Penpa Tsering, receiving about 58 percent of the 58,740 votes casted in the prime minister’s runoff.
• The result in the northern Indian town of Dharmsala, the headquarters of the government-in-exile.

Lobsans Sanjey:

• Darjeeling hailed Sangay did his studies in Delhi. He was a senior Fellow at the Harvard Law School.

SCIENCE & TECHNOLOGY

NASA launches X-plane program for green aviation

NASA has unveiled the launch of the New Aviation Horizons initiative in NASA’s 2017 budget, which aims to a new generation of X-planes that are fueled by greener energy uses half of the fuel, and are half as loud as commercial aircraft and generate 75 percent less pollution than current planes.

• The first design contract, to develop a supersonic jet with a quiet boom, wasawarded to Lockheed Martinin February.
• The X-plane called QueSST for Quiet Supersonic Technology aimed to fly in 2020.Through the 17-month $20 million project is required to complete a preliminary design for Quiet Supersonic Technology.

APEPDCL becomes India’s first e-office among all power utilities

Andhra Pradesh Eastern Power Distribution Company Limited (APEPDCL) has become the first e-office electricity distribution company among all power utilities in India.

• The objective of the e-office is to clear the files devoid of any delay, and to ensure transparency, and accountability. The initiative would considerably reduce the expense on paper.
• There are 62,291 files generated in e-office in the Andhra Pradesh of which 50,036 are of the APEPDCL’s accounting closely 32 % of the total files.
• This gives to significantly large number of trees which otherwise would have been cut for producing 5 lakh of A4 size sheets estimated.

ENVIRONMENT

Mumbai Noisiest city: Central Pollution Control Board

While Delhi may be the dirtiest city in terms of high air pollution but the Mumbai is reported the maximum violation of safe noise levels for consistently longer periods during 2011-14 and becomes Noisiest City in India.

• Rank 1: Mumbai
• Rank 2: Lucknow
• Rank 3: Hyderabad
• Rank 4: Delhi

SPORTS

Riyad Mahrez becomes first African footballer to win PFA Player of the Year

Riyad Mahrez of Algeria was adjudged as the Professional Footballers’ Association (PFA) Playerof the Year .He is the first African to receive the award.

• The award chosen by players in the English Premier League is one of the most prestigious honors an individual can receive in British soccer.
• Mahrez’s win was hardly debatable he is the only player in the Premier League to have reached double figures in goals and assists this season.
• He also became the second non-European after Luis Suarez of Uruguay to win this prestigious award.

New emblem of Tokyo 2020 Olympics unveiled

Tokyo 2020 Olympic organizer’s released a new snake-eye logo featuring an indigo coloured check in the design of the logo.

• The new Olympic emblem represents significant elements of the Tokyo 2020 Games vision and the fundamental concepts of achieving personal best unity.
• The design are the words Tokyo 2020 and under them the five interlocking Olympic rings.
• The logo was selected from a shortlist of more than 14,599 entries were publicly accepted.

Tokoyo Olympics:

• Tokyo earlier hosted the 1964 Summer Olympic Games, and in 2020 will become the fifth city to host the Summer Olympic Games more than once.

OBITUARY

China human rights campaigner Harry Wu dies

• Chinese human rights campaigner Harry Wu has died. He was 79. The cause of death wasn’t known.

Harry Wu:

• Wu was born in family in Shanghai that saw most of its property seized following the civil war victory of Mao Zedong’s communists in 1949.
• He studied geology at university but fell afoul of the authorities for his criticism of the Soviet Union.
• Wu authored various books including his prison experience and later advocacy The Chinese Gulag, Bitter Winds, and Troublemaker.