Current Affairs December 6, 2017

NATIONAL

Release of Mid-Term Review of Foreign Trade Policy 2015-2020:

The Minister of Commerce and Industry, Shri Suresh Prabhu released the Mid-term Review of the Foreign Trade Policy (FTP) 2015-20 in New Delhi. The FTP will focus on exports from labour intensive and MSME sectors by way of increased incentives in order to increase employment opportunities.

Export incentives under Merchandise Exports from India (MEIS) have been increased by 2 percent across the board for labour intensive MSME sectors leading to additional annual incentive of Rs. 4,567 crore. Further, incentives under Services Exports from India Scheme (SEIS) have also been increases by 2% leading to additional annual incentive of Rs. 1,140 crore.

Further, the validity period of Duty Credit Scrips has been increased from 18 to 24 months and GST rates on transfer/sale of scrips has been reduced to zero.Focus will be given to Ease of Trading across borders.

Smt. Anupriya Patel inaugurates 22nd AHWP conference:

Smt. Anupriya Patel, MoS (Health & Family Welfare) inaugurated the 22nd conference of Asian Harmonization Working Party (AHWP) at New Delhi. The five-day conference is being conducted by Central Drugs Standard Control Organization (CDSCO) and National Drug Regulatory Authority (NDRA) of India in collaboration with Ministry of Health & Family Welfare.

The key objective of the event is to develop and recommend approaches for the convergence and harmonization of medical device regulations in Asia and beyond and to facilitate the exchange of knowledge and expertise amongst regulators and the industry.

ISA to become treaty-based International intergovernmental organization:

India’s global initiative, the International Solar Alliance (ISA) will become a treaty-based international intergovernmental organization. It aims at addressing obstacles to deployment at scale of solar energy through better harmonization and aggregation of demand from solar rich countries lying fully or partially between the tropics of Cancer and Capricorn. Till date, 46 countries have signed, and 19 countries have ratified the framework agreement of the ISA.

The initiative was jointly launched by the Prime Minister Narendra Modi and then President of France Francois Hollande on 30th November 2015 in Paris, on the side-lines of UN Climate Conference COP-21.

ISA Headquarters: Gwal Pahari, Gurgaon, Haryana,India.

Nation pays homage to Dr. B. R. Ambedkar on his 62nd Mahaparinirvan Diwas:

The President ShriRam Nath Kovind led the nation in paying homage to Bharat Ratna Baba Saheb Dr. B.R. Ambedkar on his62nd Mahaparinirvan Diwas on 6^th Dec 2017. The President offered floral tributes at the statue of Baba Saheb at Sansad Bhavan Lawns in the Parliament House complex.

The Vice President, Shri M. Venkiah Naidu, the Prime Minister Shri Narendra Modi and the Speaker of the Lok Sabha, Smt. Sumitra Mahajan also offered tributes to the Father of the Indian Constitution, Dr. Ambedkar. The function was organised by the Ambedkar Foundation, an autonomous organization under the Ministry of Social Justice & Empowerment.

Surface-to-air missile ‘Akash’ successfully test fired:

Surface-to-air missile ‘Akash’ was successfully test fired for the first time with a home-made radio frequency seeker against target Banshee.The missile was launched from the Launch Complex-III atITR Chandipur in Odisha.

The missile can target aircrafts flying at 18 km altitude and has a range of 30 km. The radars, telemetry and electro-optical systems along the coast have tracked and monitored all the health parameters of the missile.

Odisha

Capital: Bhubaneswar
Chief Minister: Naveen Patnaik
Governor: C. Jamir

U.P. becomes first State to endorse Centre’s triple talaq draft bill:

Uttar Pradesh has become the first State to endorse the Central government’s draft bill that makes instant triple talaq a cognisable and non-bailable offence.

The draft law, which provides for three-year imprisonment and a fine to a man trying to divorce his wife by uttering “talaq” three times, got the State government’s approval at a Cabinet meeting, chaired by Chief Minister Yogi Adityanath in Lucknow.

Uttar Pradesh

Capital:Lucknow
Chief Minister:Yogi Adityanath
Governor: Shri Ram Naik

INTERNATIONAL

Flag4 military exercises begins:

The armed forces of the UAE, US, UK and France will begin military exercises in Abu Dhabi.The joint exercises, named “Flag4”, comes within the framework of UAE’s military cooperation with brotherly and friendly countries in order to raise combat efficiency, gain more field expertise, and work to unify military concepts and terminologies among the participating parties.

BANKING & BUSINESS

ADB approves $583 million loan to Reliance Power project:

Reliance Power Ltd said Asian Development Bank (ADB) has approved debt financing and partial risk guarantees totalling $583 million(approxRs. 3,748 crore) to develop its 750 MW power plant and LNG terminal project in Bangladesh.

The project, which includes a power generation facility to be located inMeghnaghat near Dhaka and an LNG terminal near Kutubdia Island south of Chittagong, will significantly increase power generation and improve energy infrastructure in Bangladesh.

PM Modi emerges as most tweeted about world leader after US Prez:

Microblogging site Twitter has said, Prime Minister Narendra Modi with 37.5 million followers is the second most tweeted about world leader, after US President Donald Trump with 44.1 million followers this year.

Two postings of former US president Barack Obama were among the top three most-liked tweets of 2017.Other world leaders to figure in the top-10 list include Venezuelan President Nicolas Maduro, Turkish President Recep Tayyip Erdogan, French President Emmanuel Macron and British Prime Minister Theresa May.

Fitch lowers FY18 growth forecast:

Fitch Ratings cut the country’s GDP growth forecast for the current fiscal to 6.7% from the earlier projected 6.9%, saying that the rebound was weaker than expected.It also cut GDP growth forecast for 2018-19 fiscal year to 7.3% from 7.4% predicted in its September Global Economic Outlook (GEO).

World Social Protection Report 2017-2019:
According to new data presented in the World Social Protection Report 2017/19: Universal social protection to achieve the Sustainable Development Goals, only 45 per cent of the global population is effectively covered by at least one social benefit, while the remaining 55 per cent(4 billion people)are left unprotectedsaid by a new flagship reportfrom the International Labour Organization (ILO).

The new research also shows that only 29 per cent of the global population enjoys access to comprehensive social security – a small increase compared to 27 per cent in 2014-2015, while the other 71 per cent, or 5.2 billion people, are not, or only partially, protected.

APPOINTMENTS

Lebanon’s Saad Hariri withdraws resignation:

Lebanese Prime Minister Saad Hariri has officially withdrawn his resignation, a month after saying he was quitting in a shock announcement in Saudi Arabia.He said the situation had been resolved after all members of the government agreed to stay out of the affairs of other Arab states.

AWARDS

Syrian boy wins Children’s Peace Prize for building refugee school in Lebanon:

A teenage Syrian refugee won a prestigious international prize for building a school and providing an education to hundreds of children who fled to Lebanon to escape the conflict.

Mohamad Al Jounde was just 12 years old when he decided to set up a school in the Bekaa Valley refugee camp, enlisting his relatives and volunteers to help construct the building and teach a range of subjects from English and maths to photography.

Syria

Currency: Syrian pound
Capital: Damascus

SPORTS

India win first-ever South Asian Regional Badminton Team Championship:

India has won the first-ever South Asian Regional Badminton Team Championship. In the title clash played at theTarun Ram Phookan Indoor Stadium in Guwahati, India defeated Nepal, 3-0.

Winner List

In Boys’ singles – Aryaman Tandon
In Girls’ singles – AshmitaChaliha
In Boys’ Doubles – Arintap Dasgupta and Krishna Prasad

IOC bans Russia from next year’s Winter Games:

Russia were banned from the 2018 Olympics over state-sponsored doping. The decision was taken in the IOC’s executive board meeting in Lausanne, Switzerland. However, the IOC said that Russian athletes would be able to take part in the Games, as independent competitors under the Olympic flag.

The IOC announced the decision after examining evidence of state-sponsored doping over several years that reached a high-point at the Winter Olympics hosted in Sochi, Russia, in 2014.

OBITUARY

Noted musician Adithyan passes away:

Noted South Indian music director, Adithyan, passed away in Hyderabad.The musician is known for his numbers in films such as the super hit gangster flick Amaran, besides SeevalaperiPandi, in the early 90s.