15 May 2018 - Daily Current Affairs

President Kovind inaugurates Global Exhibition on Services-2018

15 May 2018 - Daily Current Affairs

President Kovind inaugurates Global Exhibition on Services-2018

  • President Ram Nath Kovind has inaugurated the 4th edition of Global Exhibition on services in Mumbai.
  • This year five Indian states and around 100 countries are participating in Global Exhibition on Services with 625 exhibitors and 500 overseas delegates.
  • President visited the Bhabha Atomic Research Centre and attended an exhibition on Department of Atomic Energy (DAE) technologies in Trombay (Mumbai).
  • He also released the logo for Services and launched the portal.

Govt unveils National Wind-Solar Hybrid Policy

  • The Ministry of New and Renewable Energy (MNRE) unveiled a National Wind-solar Hybrid Policy that which seeks to promote new projects as well as hybridization of the existing ones.
  • The objective of the policy is to provide a framework for the promotion of large grid-connected wind-solar PV hybrid system for efficient utilization of transmission infrastructure and land.
  • These projects can be set up anywhere in the country depending on feasibility and land availability with bidders.
  • The MNRE is also in the process of launching a scheme for new hybrid projects under this policy.

Customs and Postal Department hold first-ever Joint Conference

  • Indian Customs and Department of India Posts held a First ever Joint Conference at Vigyan Bhavan in New Delhi to deliberate on streamlining of imports and exports by post.
  • Commissioners of Customs from all the States having Foreign Post Offices (FPOs) were present along with their counterpart Post Master Generals.
  • Imports and exports by post are the 6th highest cited citizen grievances under CPGRAMs.
  • Customs and Directorate General of Foreign Trade (DGFT) have worked together since a year to liberalize, reform and align laws relating to imports by Post.

WPI inflation rises to 3.18 % in April

  • According to data released by the Commerce Ministry, Inflation based on Wholesale Price Index (WPI) shot up to 3.18% in April due to increasing prices of petrol and diesel as well as fruits and vegetables.
  • Inflation in food articles was at 0.87% in April 2018, as against a deflation of 0.29% in the preceding month.
  • Deflation in vegetables was 0.89% in April, (previous month 2.70%).
  • The data also mentioned that Inflation in 'fuel and power' basket rose sharply to 7.85% in April from 4.70% in March as prices of domestic fuel increased in line with rising global crude oil rates.
  • Inflation in fruits was in double digits at 19.47% in April, up from 9.26% in the previous month.
  • The Wholesale Price Index (WPI) focuses on the price of goods traded between corporations, rather than goods bought by consumers, which is measured by the Consumer Price Index.
  • The purpose of the WPI is to monitor price movements that reflect supply and demand in industry, manufacturing and construction.

Important Days 

International Day of Families being observed today

  • The International Day of Families is observed on the 15th of May every year to provide an opportunity to promote awareness of issues relating to families and to increase the knowledge of the social, economic and demographic processes affecting families
  • The theme of this year is “Families and inclusive societies”.
  • In 1993, the General Assembly of United Nations decided that 15 May of every year should be observed as The International Day of Families.

National Appointments 

Major changes in Union Cabinet; Piyush Goyal gets finance

  • In a cabinet reshuffle, The Prime Minister has given Piyush Goyal (Railway Minister) the additional charge of Finance Ministry till Arun Jaitley fully recovers after his successful kidney transplant surgery.
  • PM Narendra Modi has given Rajyavardhan Singh Rathore the independent charge as Minister of State in the Ministry of Information and Broadcasting (I&B), in place of current Minister of Information and Broadcasting Smriti Irani.
  • Piyush Goyal (Railway, Coal, Corporate Affairs): Finance Ministry.
  • Rajvardhan Rathore (Youth Affairs and Sports): Information and Broadcasting Ministry (Independent charge)
  • SS Ahluwalia: Electronics Ministry (Ministers of State)
  • KJ Alphons: Tourism Ministry (Independent Charge)
  • Smriti Irani: Textiles Ministry (Cabinet Minister).

International Affairs

WHO launches 'REPLACE' to Eliminate trans-fat in foods by 2023

  • The World Health Organization (WHO) launched an initiative called ‘REPLACE’ to provide a guidance for all countries on how to remove artificial trans fats from their foods supply by 2023.
  • REPLACE stands for review dietary sources, promote the use of healthier fats, legislate, assess changes, create awareness and enforce.
  • This initiative is meant to lead countries in establishing legislation to eliminate the trans fats.
  • Artificial trans fats are made when vegetable oil hardens in a process called hydrogenation.
  • Those hydrogenated fats are often used in processed foods or baked goods, because they don't spoil as quickly as other fats, but they can have some harmful health effects.
  • The WHO estimates that every year, trans fat intake leads to over 5,00,000 deaths worldwide from cardiovascular diseases.

ICBC launches China's 1st India-Dedicated investment fund

  • A Chinese bank, Industrial and Commercial Bank of China (ICBC) has launched the country's first India-dedicated publicly offered investment fund for investing in India.
  • The ICBC Credit Suisse India Market Fund will invest in exchange-traded funds listed on more than 20 exchanges in Europe and the US that are based on the Indian market.
  • The fund will invest in the future of the Indian economy and track the distribution of the industrial structure across the Indian market.


Renowned physicist Dr. E C G Sudarshan passes away

  • Eminent Indian-American theoretical physicist Ennackal Chandy George Sudarshan (86-year) passed away in Austin, Texas.
  • Sudarshan (Professor at the Texas University) specialized in Quantum Optics and linked Vedanta with modern physics.
  • In 2007, the Indian government recognized and awarded the physicist with the second highest civilian award, Padma Vibhushan.
  • E C G Sudarshan was recommended for the Nobel Prize nine times but never awarded.
  • He has proved Albert Einstein's theory on the speed of light was wrong as tachyon can move faster than light.

Malayalam actor Kalasala Babu passes away

  • Malayalam Actor Kalasala Babu(68-year) passed away at a hospital in Kochi.
  • Kalasala Babu was associated with the entertainment industry for about 45 years.
  • He acted in plays mostly produced by Kalidasa Kala Kendram.
  • He even launched his own drama troupe called Kalasala in Tripunithura, which had artists such as Thilakan and Surasu among others.


Heena Sindhu bags gold, Nivetha bronze in Hannover, Germany

  • Indian Shooter Heena Sidhu won the gold medal while compatriot P Shri Nivetha (219.2 points) settled for bronze in the women's 10m air pistol at the International Shooting Competitions of Hannover, Germany.
  • In the final, Heena was tied with France's Mathilde Lamolle on 239.8 points.
  • She won the tie to win the gold ahead of Mathilde.
  • Earlier, Heena had won a gold in the women's 25m pistol event in Gold Coast and a silver in 10-meter air pistol.

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