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‘KK Venugopal’ to be new Attorney General of India


  • A noted constitutional expert and Senior advocate ‘K K Venugopal’ (86-year) has been cleared for appointment as the Attorney General for India following the decision of ‘Mukul Rohatgi’ to step down as the top law officer.
  • He would become a law officer for the second time after being an Additional Solicitor General during the Morarji Desai government during the seventies.
  • Venugopal is the recipient of ‘Padma Vibhushan’ and ‘Padma Bhushan’.

Note:
  • The Attorney General for India is the Indian government's chief legal advisor and its primary lawyer in the Supreme Court of India.
  • Attorney General appointed by the President of India under Article 76(1) of the Constitution and holds office during the pleasure of the President.

AK Jyoti of Gujarat cadre will be next Chief Election Commissioner


  • Achal Kumar Jyoti (1975-batch – IAS officer) will be the next Chief Election Commissioner (CEC) of India.
  • He would take charge from incumbent ‘Nasim Zaidi’, retire from his post on 6 July 2017.
  • Currently, Achal Kumar Jyoti is the Election Commissioner of India along with O P Rawat.


SN Subrahmanyan new CEO & MD of Larsen & Toubro


  • SN Subrahmanyan has taken charge as the CEO and managing director(MD) of Larsen & Toubro.
  • He replaced AM Naik, who will continue as Non-Executive Chairman for three years (from 1st Oct).
  • Subrahmanyan has played a crucial role in securing and managing the EPC contracts for four major international airports (Bengaluru, Hyderabad, Delhi, and Mumbai).

Note:
  • Larsen & Toubro Limited (L&T) is an Indian multinational conglomerate headquartered in Mumbai.
  • It was founded by two Danish engineers taking refuge in India.
  • The company has business interests in engineering, construction, manufacturing goods, information technology, and financial services, and has offices worldwide.

1st July: National Doctor's Day


  • The National Doctors’ Day is celebrated every year on 1st July in India to honor the legendary physician and the 2nd Chief Minister of West Bengal, Dr. Bidhan Chandra Roy.
  • This is a vital day for doctors as it provides them with an opportunity to reflect on their career and remind them about practicing the art and science of Medicine and Surgery in an ethical manner.
  • Dr. Roy was honored with the country's highest civilian award ‘Bharat Ratna’.

Note:
He was born on July 1, 1882 and died on the same date in 1962, aged 80 years.

International Day of Cooperatives 2017: first Saturday of July


  • International Co-operative Day is an annual celebration of the co-operative movement observed on the first Saturday in July since 1923 by the International Co-operative Alliance.
  • The theme for the 2017 International Day of Cooperatives is Co-operatives ensure no-one is left behind.
  • Since 1995, the United Nations' International Day of Co-operatives has been observed jointly alongside International Co-operative Day.


Ankit Kawatra bags Queen’s Young Leaders Award for 2017


  • Anti-hunger activist ‘Ankit Kawatra’ (25-year) has been awarded the Young Leaders Award for 2017 by Queen Elizabeth II at a ceremony in the Buckingham Palace.
  • The Queen’s Young Leaders Award recognizes exceptional work towards solving hunger and malnutrition.
  • Ankit Kawatra is the founder of Feeding India, an organization which works towards eradicating hunger and food wastage in India.
  • The organization Feeding India, established in 2014 functions across 43 Indian cities with the help of 4,500 volunteers serving 8 million meals to the needy.


Union Government launched National Biopharma Mission


  • The Union Minister ‘Harsh Vardhan’ has launched a first ever Industry-Academia mission "National Biopharma Mission" to accelerate biopharmaceutical development in India.
  • Under the Mission, the Ministry launched a programme named Innovate in India (i3) to create an enabling ecosystem to promote entrepreneurship and indigenous manufacturing in the sector.


MPs approve to legalize same-sex marriage in Germany


  • In German parliament, a clear majority of MPs of the country have voted to legalize same-sex marriage.
  • The decision means that same-sex couples will be able to marry for the first time in Germany, and will have full rights to adopt children.
  • The bill was backed by 393 lawmakers, 226 voted against and four abstained.


European feminist politician Simone Veil passes away


  • The French politician and Holocaust survivor ‘Simone Veil’ (89-years) passed away in her home in Paris.
  • Simone served as minister of health under the center-right government of Valery Giscard d’Estaing and later as president of the European Parliament.
  • She became one of the 40 immortals of the Académie Française in 2010 (a great honor in France).


Govt lowers interest rate by 0.1 % on small saving schemes for July-Sep quarter


  • The union govt. has lowered interest rate on small saving schemes by 0.1% for the July- September quarter this year.
  • Now, the rates of small saving schemes like PPF (Public Provident Fund) - 7.8%, Kisan Vikas Patra (7.5 %) & mature in 115 months, have been lowered across the board compared to the April-June quarter.
  • Samriddhi Account Scheme (girl child savings scheme) will offer 8.3% annually, from 8.4% at present.


RBI report sees India's economic growth rate at 7.3% in 2017-18


  • According to the Reserve Bank of India (RBI) Report, the ongoing accelerated reform initiatives like Goods and Service Tax (GST) and continuing political stability will push the economic growth scale to 7.3% in terms of Gross Value Added -GVA in the current fiscal year.
  • The reform in FDI, real estate sector, implementation of GST, and revival in external demand are likely to contribute to a better growth outlook.
  • The Report projected CPI inflation to be in the range of 2 to 3.5% in the first half of the year and 3.5 to 4.5% in the second half.


Forex reserves at new life-time high of USD 382.53 bn


  • India's Forex Reserves surged by 576.4 million US Dollar to touch a new lifetime high of 382.53 billion US Dollar in the week to June 23 this year.
  • According to Reserve Bank of India FCAs, a major component of overall reserves rose by 580.2 million US Dollar to 358.664 billion US Dollar.
  • The Gold reserves remained unchanged at 20.095 billion US Dollar.
  • The special drawing rights with the International Monetary Fund (IMF) dipped by 1.5 million US Dollar to 1.467 billion US Dollar.


BHEL signs pact with Japanese firm for manufacturing coaches for metro trains


  • The Bharat Heavy Electricals Limited (BHEL) has signed an agreement with Kawasaki Heavy Industries Ltd (KHI) of Japan to manufacture stainless steel coaches and bogies for metro rail.
  • The agreement covers establishing engineering, design, and manufacturing facilities at BHEL using Japanese technology.
  • It will also entitle BHEL for all technological advances and upgrades.
  • The KHI is also the manufacturer and supplier of Shinkansen High-Speed Bullet Trains, proposed to be introduced in India on the Mumbai-Ahmedabad High-Speed Rail Corridor.
  • BHEL supplies electric as well as diesel locomotives, EMUs, and propulsion systems for Indian Railways.


India launches historic indirect tax regime GST


  • Indirect tax regime GST(The Goods and Services Tax) has been launched in India at the stroke of midnight on 1st July 2017.
  • The launch was organized in the Central Hall of Parliament on the midnight of 30 June - 1 July 2017 in the presence of President, Vice President, Prime Minister, Speaker of Lok Sabha and Union Finance Minister among other dignitaries.
  • The GST launch was marked by the speech of Prime Minister Narendra Modi, who dubbed the tax regime as the ‘Good and Simple Tax’.
  • GST is expected to completely transform the Indirect Taxation landscape in the country involving both the Central and State levies as GST will be administered together by the Centre and States.
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