Saturday, 3 June 2017

Daily Update On Current Affairs - June 01, 2017

current affairs

Here's your daily summary of Current Affairs.

India And Spain Sign Seven Agreements

India and Spain have signed seven agreements following talks between Prime Minister Narendra Modi and his Spanish counterpart Mariano Rajoy at the Moncloa Palace in the Spanish capital. The visit of Prime Minister Narendra Modi is the first by an Indian Prime Minister to Spain in nearly 30 years. The last Prime Minister to visit Spain was Rajiv Gandhi in 1988. Earlier, PM Modi and the Spanish Prime Minister had met on the sidelines of the G20 Summit in Turkey in November 2015. Prime Minister Narendra Modi has welcomed Spain’s infrastructure, tourism, energy, and defense companies to invest in priority sectors in India. Spain is India’s 7th largest trading partner in the European Union. Bilateral trade between both the nations has totaled USD 5.27 billion in 2016.

Amul Signs MoU With ISRO

Gujarat Cooperative Milk Marketing Federation (GCMMF) which markets its product under the brand name ‘Amul’ has signed a MoU with ISRO for fodder acreage assessment using satellite observation and space technology. As per the MoU signed, ISRO would help in identification between food and fodder crops at the village level. ISRO will also help in establishing suitable areas at village level for green fodder cultivation. The Space Applications Centre (SAC) of ISRO has already carried out an assessment that concluded that green fodder availability for dairy livestock at district and village level through remote sensing is feasible. The significance of the agreement lies in the fact that the fodder acreage estimation can help in monitoring and planning of fodder development activities by the stakeholders in the dairy sector. This will help the milk producing farmers of Gujarat to reap benefits of fodder cultivation. Amul is procuring around 150 lakh liters of milk every day from around 35 lakh milk producers living in 18,500 villages.

UPSC Civil Services 2016 Results Announced;  Nandini K.R From Karnataka Tops The List

Nandini K R from Karnataka has topped Civil Services Examination 2016. Anmol Singh Bedi secured 2nd position while Gopal Krishna Ronanki of Andhra Pradesh bagged the 3rd position. The UPSC announced the results today. A total of  1099 candidates have cleared the examination. Out of top ten, three are women. Five hundred candidates have been declared successful in General category, 347 in OBC, 163 in SC and 89 in ST category.

India Not The Fastest Growing Economy In The World, Loses No 1 Rank To China

The country's Gross Domestic Product (GDP) grew 6.1 percent year-on-year during the January-March period. The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation, released the provisional estimates of national income for the financial year 2016-17 and quarterly estimates of Gross Domestic Product (GDP) for the fourth quarter (January-March) of 2016-17. China grew at 6.9 percent during the same period. The slowdown is attributed to the demonetization in Nov 2016. The GDP for the full year (2016-17 ) came in at 7.1 percent in line with official estimate compared to a revised growth figure of 8 percent in the financial year 2016-17. During the quarter, the agriculture, forestry and fishing sectors grew at 5.2 percent, mining and quarrying at 6.4 percent, manufacturing at 5.3 percent, electricity, gas, water supply and other utility services at 6.1 percent, trade, hotels, transport and communication at 6.5 percent; financial, real estate and professional services at 2.2 percent, and public administration, defence and other services at 17 percent. However, the construction sector shrank 3.7 percent. 

Growth In India's 8 Core Sectors Slowed To 2.5% In April This Year

Growth in the country's eight core sectors slowed to 2.5 percent in April this year, from 8.7 percent in April last year. This was mainly due to lower coal, crude oil, and cement production. According to government data released today, coal production declined 3.8 percent, crude oil output fell 0.6 percent, and cement production dropped 3.7 percent in April. Growth in refinery products slowed to 0.2 percent, and electricity generation slowed to 4.7 percent in April. But natural gas output rose 2 percent, fertiliser output increased 6.2 percent, and steel production grew 9.3 percent during the month.

India Signs Loan Agreement Of 36 Million Dollar With World Bank

India today signed a loan agreement of 36 million dollars with the World Bank for Himachal Pradesh Public Financial Management Capacity Building Programme. The project aims to improve the efficiency of public expenditure management and tax administration in Himachal Pradesh. The agreement was signed by Joint Secretary of Department of Economic Affairs Raj Kumar and the Bank's Country Director Junaid Kamal Ahmad.

Centre Contains Fiscal Deficit At 3.51% In FY17

The Centre managed to keep its finances in check in 2016-17 despite a shortfall in revenue receipts. The fiscal deficit in FY17 amounted to 3.51 percent of the GDP or 5.35 lakh crore, according to provisional estimates released by the Controller General of Accounts (CGA) on Wednesday. Finance Minister Arun Jaitley had targeted a fiscal deficit of 3.5 percent or 5.34 lakh crore in FY17. The revenue deficit was, however, slightly lower at 2.02 per cent of GDP, against the Revised Estimate of 2.1 per cent. According to the CGA, the effective revenue deficit was 0.93 percent of GDP in 2016-17, against the Revised Estimate of 0.9 percent. Total receipts amounted to 14.39 lakh crore or 97.3 percent of the Revised Estimate of 14.8 lakh crore. Total expenditure was also marginally lower at 19.74 lakh crore in 2016-17 or 98 percent of the estimate of 20.14 lakh crore.

Link Aadhaar With PAN Using SMS: IT Dept

The Income Tax Department today urged taxpayers to link their Aadhaar with their PAN, using an SMS-based facility. The department issued advertisements in leading national dailies and described how both the unique identity numbers of an individual can be linked by sending an SMS to either 567678 or 56161. It said people can also visit the official e-filing website of the department to link the two identities, in cases where there is a minor mismatch. It said linking the two numbers is the key to “seamlessly avail online, a world of income tax facilities.” “Aadhaar can also be seeded into PAN database by quoting Aadhaar in PAN application form for new PAN allotment or by quoting Aadhaar in change request form used for reprint of PAN card,” it said in the advertisement.

Ujjivan Small Finance Bank Strengthens Footprint In TN

Ujjivan Small Finance Bank Ltd, a wholly owned subsidiary of Ujjivan Financial Services Ltd, has commenced its banking operations in Salem. In addition to Salem, Ujjivan SFB has opened four additional branches in Tamil Nadu at Krishnagiri, Dharmapuri, Vellore Katpadi and Tirupathur. The bank commenced banking operations in February this year with a pilot branch in Bengaluru. It has established a network of 34 branches across Karnataka, Maharasthra, New Delhi and West Bengal. Ujjivan has its presence across 24 districts in Tamil Nadu with 56 branches, catering to over 5.04 lakh customers. The total loan disbursed in Tamil Nadu as at the end March 2017 stood at over 3,136 crores. Over a period of eight years, Ujjivan’s microfinance branch in Salem has catered to over 12,700 customers. The existing Ujjivan customers would be onboarded as bank customers. The process of onboarding over 6,000 microfinance customers has already been initiated, while the transition for the rest would take place in a phased manner, Ujjivan SFB has stated in a release.

Trump Administration Approves Tougher Visa Vetting

In the United States, the Trump administration has rolled out a new questionnaire for US visa applicants worldwide that asks for social media handles for the last five years and biographical information going back 15 years. The new questions, part of an effort to tighten vetting of would-be visitors to the United States, was approved on May 23rd by the Office of Management and Budget despite criticism from a range of education officials and academic groups during a public comment period. Critics argued that the new questions would be overly burdensome, lead to long delays in processing and discourage international students and scientists from coming to the United States.

Scientists at IIT Kharagpur Develop New Technology to Manufacture Biofuel

Scientists at IIT Kharagpur have come up with a new technology known as ‘soil-to-soil’ manufacturing technology for manufacturing cheaper, quicker and pollution-free biofuel. The technology is in the process of being patented. Biofuels are fuels which are in some way derived from biomass. The term covers solid biomass, liquid fuel and various biogases and also denotes Biodiesel, Bio-alcohol and Bio-gasoline. The new technology makes use of natural resources to extract gaseous and liquid biofuel and then converts the wastes into bio-fertilizer. At present 2gm of bioethanol can be manufactured from various naturally available lignocellulosic components. However, this process requires chemical treatment that results in polluting the environment. The new technology has replaced this chemical treatment with enzymes which degrade the lignin thereby making the manufacturing process totally pollution free. Lignins are complex organic polymer deposited in the cell walls of the plants. In this process, the residual biomass can be used as organic fertilizer. The Project is funded by the Ministry of Petroleum and Natural Gas, Department of Science and Technology and the Ministry of Human Resource Development.

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