12 July 2018 - Daily Current Affairs
India becomes world’s 6th largest economy in 2017
- According to latest World Bank figures on GDP of countries for 2017, India becomes the world’s sixth-biggest economy surpassing France to seventh place.
- India’s gross domestic product (GDP) has been amounted to $2.597 trillion at the end of 2017, as against $2.582 trillion for France.
- At the end of 2017, United States was the world’s largest economy with size of US $19.39 trillion, followed by China (US $12.23 trillion), Japan (US $4.87 trillion) and Germany (US $3.67 trillion).
- Britain is still world’s fifth-biggest economy with a GDP of $2.622 trillion.
- India, with population of around 1.34 billion is poised to become world’s most populous nation, whereas France’s population stands at 67 million.
- In near future India is also expected to surpass fifth largest economy United Kingdom.
- India has grown at seven-quarter high of 7.7% in the three months ended March 2018, helped by higher government spending and investment.
- According to International Monetary Fund (IMF), India is projected to grow at 7.4% in 2018 and 7.8% in 2019.
- This compares to world’s expected average growth of 3.9%.
- London-based Centre for Economics and Business Research predicted that in future, India will overtake both Britain and France in terms of GDP and has good chance of becoming world’s third-biggest economy by 2032.
BSNL launches India’s first internet telephony service
- State-run telecom firm BSNL through its mobile app ‘Wings’ has launched India’s first internet telephony service.
- With the help of this app, BSNL customers will be able to make calls to any phone number, domestic or international.
- Before this service, phone calls on mobile apps were possible within users of particular app (such as Whatsapp, Duo etc) and not on telephone numbers.
- The Wings service will allow calls from mobile phone to any number, domestic or international using internet.
Airtel Bank gets RBI, UIDAI nod
- Airtel Payments Bank has received requisite approvals from the Reserve Bank to begin taking new customers.
- Aadhaar-issuing authority UIDAI has also allowed it to use the 12-digit unique identification number-based e-KYC, it said in a statement.
- The development comes nearly seven months after Airtel along with Airtel Payments Bank came under fire for allegedly opening payments bank accounts of its mobile subscribers without their consent, and LPG subsidy worth crores was deposited into these accounts.
- RBI thereafter had directed Airtel Payments Bank not to on-board new customers while Aadhaar-issuing body UIDAI had suspended the e-KYC licence of both Airtel and the payments bank.
- The company had denied any wrong doing and streamlined its processes to comply with the regulations.
- A payments bank is like any other bank, but operates on a smaller scale without involving any credit risk.
- It can accept deposits of up to Rs 1 lakh, offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third party fund transfers but cannot advance loans or issue credit cards.
India formally announced as 69th shareholder of EBRD
- India has been formally inducted as the 69th shareholder of European Bank for Reconstruction and Development (EBRD).
- It comes after entire membership process completed recently and after EBRD’s board of governors, which represents all existing shareholders voted unanimously in favour of India’s application in Mar 2018.
- India had applied for EBRD membership in Dec 2017.
- India will only take shareholding in EBRD and will not be recipient of EBRD financing.
- It will pave way for more joint investment with Indian companies across EBRD’s regions of operation.
- It opens up further joint investment prospects for India in markets such as Central Asia, Egypt and Jordan.
- EBRD, headquartered in London, United Kingdom, is a multilateral developmental investment bank.
- It is owned by 65 countries and two EU institutions.
PM Modi inaugurates New Headquarters Building of ASI
- Prime Minister Narendra Modi inaugurated the new headquarters building of the Archaeological Survey of India in New Delhi.
- The ASI’s new headquarters at Tilak Marg has been equipped with state-of-the-art facilities, including energy efficient lighting and rainwater harvesting.
- It will include a central archaeological library with a collection of about 1.5 lakh books and journals.
Gujarat Govt approves Rs 39-cr ‘Seema Darshan’ project
- Gujarat Chief Minister Vijay Rupani has given in-principle approval for the 39-crore rupees ‘Seema Darshan’ project for developing more infrastructure facilities.
- The facilities will be developed from T-Junction to Zero Point at Nadabet near Suigam in Banaskantha district to instil patriotism through a unique Gujarat initiative for border tourism.
- The project being developed on Wagah Border pattern, entails an exhibition hall, a parade ground with amphitheatre for 5,000 people.
- The phase-1 of the project worth 22-crore was launched on Dec 24, 2016.
- Nearly one lakh tourists-youth have already participated in watching the border in an atmosphere surcharged with excitement at Seema Darshan.
- The viewers can watch the border where the Gujarat’s seacoast meets the landmass.
- It will encourage local economic activity in the Rann region, alongside visit to adjoining flamingo and wild ass sanctuaries.
Govt launches technology challenge
- Union Ministry of Housing and Urban Affairs (MoUHA) launched ‘Technology Challenge: Identifying solutions for cleaning of Sewerage Systems and Septic Tanks’ to promote suitable techniques for cleaning sewers and septic tanks to eliminate need for human entry in them.
- It aims to eliminate human intervention in cleaning of sewers and septic tanks.
- It also aims to identify technological as well as business process innovations to avoid human intervention in cleaning of sewers and septic tanks.
- It will also endorse viable business models that are suitable for different size, geographies, and class of cities.
- The challenge will be part of Mahatma Gandhi International Sanitation Convention that will be held on Oct 2, 2018.
India to hold first ever India Tourism Mart
- India will organise its first-ever India Tourism Mart (ITM) for three days from Sept 16 to increase tourist footfalls.
- It would be similar to major international travel marts organised by many countries.
- It is expected to provide a platform for all stakeholders in the tourism and hospitality industry to interact and create business opportunities.
- The event will be organised by the Tourism Ministry, in partnership with the Federation of Associations in Indian Tourism and Hospitality (FAITH) with the support of States/UTs.
- The ITM 2018 will be a big step to attract visitors from all over the world.
India and UK sign MoU
- India and United Kingdom signed Memorandum of Understanding (MoU) on cooperation in the sphere of Law & Justice and establishing Joint Consultative Committee.
- It was signed by Law Minister Ravi Shankar Prasad and UK’s Secretary of State for Justice David Gauke in London.
- It aims to enhance bilateral cooperation in legal affairs which would provide framework for promoting greater cooperation between judicial and legal professionals in both countries through exchange of expertise and training.
Andhra Pradesh Govt launches 60 Anna Canteens
- Andhra Pradesh Govt launched 60 Anna Canteens across the state in the first phase to provide subsidised food to urban poor.
- These canteens aim to tackle hunger in urban areas.
- The Anna canteens will offer breakfast, lunch and dinner at Rs 5 a meal.
- It will be run by Akshaya Patra Foundation.
- The first Anna Canteen named former undivided Andhra Pradesh Chief Minister N T Rama Rao was launched in Mar 2016.
- It was opened on pilot basis close to Govt Transitional Headquarters at Velgapudi in Amaravati.
- Tamil Nadu is first state of launch ‘Amma’ canteens in Feb 2013 in Chennai.
- Now, Rajasthan (Annapurna Rasoi Yojana), Madhya Pradesh (Deendayal canteens), Delhi (Aam Aadmi canteens), Odisha, and Karnataka have started their own versions of subsidised food canteens.
INS Sumitra becomes the first-ever warship
- The Indian naval ship INS Sumitra has become the first-ever warship to enter port of Sabang in Indonesia.
- It was received by traditional dancers and Indonesian traditional band.
- The ship was welcomed by Indian Ambassador to Indonesia PK Rawat, Indonesian foreign affairs officials, members from Indian embassy, Indian businessmen and Indonesian naval and air force officers onboard.
- The warship was deployed in Malacca Straits.
Western Ghats (India) bagged 4th best tourist spot in Lonely Planet’s
- The Western Ghats of India has bagged the 4th best tourist spot in Lonely Planet’s top five “2018 Best in Asia” list.
- The list is a collection of 10 of the best destinations to visit in the continent for the year.
- The list is topped by Busan in South Korea, followed by Uzbekistan and Ho Chi Minh City (Vietnam).
- The Western Ghats is older than the Himalayas and well known for its rich and unique flora and fauna.
- It is one of the Hottest Biodiversity Hotspots and UNESCO World Heritage site.
- It supports the life of 7,402 species of flowering plants, 1814 species of non-flowering plants, 139 mammal species, 508 bird species, 179 amphibian species, 6000 insects species and 290 freshwater fish species.
- Lonely Planet is considered a Bible by travellers worldwide.
Dr. Sandeep Sancheti assumed charge as 97th President of AIU
- The Vice Chancellor of SRM Institute of Science and Technology (SRMIST), Dr. Sandeep Sancheti has assumed charge as the 97th President of the Association of Indian Universities (AIU).
- The AIU was founded in 1925, and initially it was known as the Inter-University Board of India.
- It facilitates coordination and mutual consultation among Universities and acts as a liaison with the Central and State governments.
Entire Men’s Hockey team included in TOPS
- The Mission Olympic Cell (MOC) of Union Ministry of Sports and Youth Affairs included entire Men’s Hockey team of India under the Target Olympic Podium Scheme (TOPS).
- This is first instance that entire team has been made beneficiary of the scheme as earlier only individual athletes from different sports were included as beneficiaries of the scheme.
- The decision to include hockey was taken after India’s performance had improved as they had finished runners up in Champions Trophy in Netherlands.
- With this, the 18 team members will be provided with monthly allowance of Rs. 50,000 each under the Target Olympic Podium Scheme (TOPS).
- TOPS was launched by Ministry of Sports within the ambit of National Sports Development Fund (NSDF).
- It aims at identifying and supporting potential medal prospects for upcoming Olympic Games.
Spiritual leader Dada Vaswani passes away
- Spiritual leader Dada Vaswani has passed away at the age of 99 in Pune.
- He was chief of Sadhu Vaswani Mission in Pune that is named after his uncle TL Vaswani.
- Acclaimed as a humanitarian, philosopher, educator, orator and non-sectarian spiritual leader, he was also known for promoting vegetarianism and animal rights.
