DAILY CURRENT AFFAIRS: MARCH 16, 2018

NATIONAL

Telangana, Kay Ventures tie up for apparel hub

The Telangana government is setting up a ₹100-crore Apparel Super Hub in Sircilla.

It signed a memorandum of understanding with Kay Ventures to roll out the project.

To be set up on 20 acres, the hub will be completed in three phases. The first phase will be taken up with an investment of ₹30 crore in a year.

While the State government will infuse 90 per cent of the phase-1 funds, Kay Ventures and its associates will take care of the balance amount.

PM Inaugurates 105th Indian Science Congress in Imphal

PM Modi inaugurates the 105th Indian Science Congress in Imphal.

The theme of the event is “reaching the unreached through science and technology”

The prestigious event is being held in Manipur for the first time and for the second time in the North-East.

IATA Partners with Civil Aviation Ministry in India

The International Air Transport Association (IATA) on Tuesday said it has signed a Memorandum of Understanding (MoU) with the Ministry of Civil Aviation and the National Aviation University.

It aims to enhance human resource availability in India’s aviation industry.

India is expected to be the third largest aviation market in the world behind China and the US by 2024, and is forecast to grow to a market size of 480 million passengers in 2036.

IATA

Headquarters: Montreal, Canada

CEO: Alexandre de Juniac

INTERNATIONAL

President Of India Inaugurates World Hindi Secretariat In Mauritius

President Ram Nath Kovind inaugurated the World Hindi Secretariat building in Mauritius on the third day of his visit to the country.

He also launched the World Hindi Secretariat’s logo and unveiled foundation stones of a social housing project and a large ENT hospital being built with Indian assistance.

He became the first Indian President to visit Madagascar.

Mauritius

Capital: Port Louis

Currency: Mauritian rupee

President: Ameenah Gurib

India-Iran cabinet approves agreement for avoidance of Double taxation

The Union Cabinet, chaired by Prime Minister Narendra Modi approved an agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income between India and Iran.

The agreement will stimulate the flow of investment, technology and personnel from India to Iran and vice versa, and will prevent double taxation.

Section 90 of the Income Tax Act, 1961- For avoidance of double taxation of income

Income-tax Act, 1961-exchange of information for the prevention of evasion or avoidance of income-tax chargeable.

Iran

Capital: Tehran

Currency: Iranian rial

President: Hassan Rouhani Trending

BANKING AND ECONOMY

Amazon launches first debit card in Mexico e-commerce push

Amazon.com Inc launched its first-ever debit card in Mexico, part of a push to encourage shoppers without bank accounts to buy online.

Amazon said that Mexico was the first country where it has offered a debit card, called Amazon Rechargeable, aiming to give customers a new method to shop on its website.

Clients that don’t have a credit or debit card will find Amazon Rechargeable an easy and practical way to convert cash into a payment method.

India ranks 78th on WEF Energy Transition Index 2018

India has been ranked at 78th, lower than its emerging market peers like Brazil and China, among 114 countries on the World Economic Forum’s (WEF) energy transition index.

The list was topped by Sweden.

It ranks countries based on how well they are able to balance energy security and access with environmental sustainability and affordability.

ICMR Wins 2017 Kochon Prize for TB Research

The 2017 Kochon Prize was awarded to the Indian Council of Medical Research in New Delhi for building a tradition of excellence in TB research and development.

The $65,000 prize is awarded annually by Stop TB Partnership to individuals and/or organizations that have made a significant contribution to combating the disease.

Kochon Foundation is a non-profit organisation from Korea.

Annual Krishi Unnati Mela to begin in New Delhi

The three-day annual Krishi Unnati Mela will begin in New Delhi with a focus on doubling the farmers’ income.

The objective of the fair is to create awareness among farmers about the latest agriculture-related technological developments.

Prime Minister Narendra Modi will address the farmers and agri-scientists. He will also unveil a portal on organic farming and lay the foundation stone of 25 Krishi Vigyan Kendras.

CCEA approves continuation of urea subsidy scheme

The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi has approved the proposal of Department of Fertilizers.

The proposal is that to continue Urea Subsidy Scheme upto 2019-20 at a total estimated cost of Rs. 1,64,935 crore and for disbursement of fertilizer subsidy.

This decision implies that there will be no increase in price of urea, till 2020.

The scheme is wholly financed by the Government of India through Budgetary Support.

APPOINTMENTS

Sangeeta Bahadur Appointed Next Ambassador of India to Belarus

Ms. Sangeeta Bahadur (IFS:1987) has been appointed as the next Ambassador of India to the Republic of Belarus.

She is currently Additional Secretary in Ministry of External Affairs.

Belarus

Capital: Minsk

Currency: Belarusian ruble

President: Alexander Lukashenko

DAILY CURRENT AFFAIRS QUIZ: MARCH 16, 2018