DAILY CURRENT AFFAIRS: MAY 10, 2018
DAILY CURRENT AFFAIRS: MAY 10, 2018
15th Finance Commission constitutes an Advisory Council
The Fifteenth Finance Commission has constituted an Advisory Council to advise and assist the Commission.
The role and functions of the Advisory Council will be to advise the Commission on any issue or subject related to the Terms of Reference (ToR) of the Commission.
It helps in broadening the Commission’s ambit and understanding to seek best national and international practices on matters pertaining to fiscal devolution and improving the quality and reach and enforcement of its recommendations.
The Finance Commission had so far made the 1971 Census as the basis to decide the transfer of tax money to the states. The government has directed the 15th Finance Commission to use the 2011 Census figures for purposes of devolution of taxes to the states.
Ravi Shankar Prasad Launches Website of Digital India Internship Scheme
In an effort to enhance skills of the youngsters, the Ministry of Electronics and Information technology (MeitY) has launched the ‘Digital India Internship Scheme’ which will offer ₹10,000 per month as stipend to interns.
The portal will facilitate students to apply online for internship and its aim is to provide an opportunity to secure first hand and practical work experience under the guidance of a mentor.
The internship scheme will enable the young students to learn closely about the initiative of Digital India.
Ministry of Electronics and Information technology (MeitY)
Cabinet Minister: Ravi Shankar Prasad
Constituency: Bihar, Rajya Sabha
TRAI Releases Draft for Telecom Interconnection Regulations
The Indian telecom regulator has released the draft amendment of telecommunication interconnection.
It has set time-frame for provisioning of ports for initial interconnection and augmentation to be increased to a maximum 42 working days.
The draft said a service provider may request the other service provider for additional ports at a Point of Interconection (POI), if the projected utilization of the capacity of such POI at the end of 60 days from the date of placing the request, is likely to be more than 85 per cent
China will host World Robot Conference 2018
The 2018 World Robot Conference will be held in Beijing, China. The event will see over 12,000 competing teams and 50,000 participants from more than 10 countries and regions.
The conference will greatly stimulate passion and innovation in the robot industry as well as help with research and development. A robot competition will be held during the conference.
President: Xi Jinping
BANKING AND ECONOMY
NSDL payment bank to open in a month
National Securities Depository Limited (NSDL)expects to launch its payment bank’s operations within a month as it is awaiting Reserve Bank’s nod. It will be a digital bank focussed on making digital payments.
NSDL has already obtained license from the apex bank and filed an application seeking clearance for launching operations.
NSDL is currently storing certificates of as many as 40 universities in the country.
Managing director and CEO NSDL: GV Nageswar Rao
India and Panama Signed 2 Agreements
India and Panama have signed two agreements on exemption of Visas for holders of Diplomatic and Official Passports and in the field of Agriculture.
These agreements were signed in the presence of Vice President M Venkaiah Naidu and President of Panama Juan Carlos Varela Rodrigues and Vice President and Foreign Minister Isabel de Saint Malo de Alvarado in Panama.
Two centres for Biodiversity and Innovation will be setup by India in Panama worth US $10 mn and US $15 mn each.
Capital: Panama City
Currency: United States Dollar, Panamanian balboa
Former Malaysian PM Mahathir Mohamad wins general elections
Mahathir Mohamad is set to become the world’s oldest prime minister after his opposition party was declared the winner of the general election.
At the age of 92, Mr Mahathir defeated the Barisan Nasional coalition, which has been in power 60 years.
Mr Mahathir’s opposition alliance had won 115 seats, over the threshold of 112 seats needed to form a government.
Capital: Kuala Lumpur
Currency: Malaysian ringgit
Arun Bhardwaj, Head of “centre for excellence for cricket”
Noted coach and umpire Arun Bhardwaj will head the Centre of Excellence.
Bhardwaj will be assisted by a full-time trainer and physio apart from three faculty coaches.
He is known for his sound knowledge of the game, Bhardwaj who calls himself a “Student” of the game, is a retired employee of the Sports Authority of India.
Cabinet Secretary P.K Sinha gets extension till 2019
The Narendra Modi government has given a one-year extension to top IAS officer Pradeep Kumar Sinha as the Cabinet Secretary. He will now continue be as the cabinet secretary till June 12, 2019.
As per government rules, no government servant shall be granted extension in service beyond age of retirement of 60 years but as per rule FR 56, extension in public interest may be given.
The government has followed precedent as both predecessors of Sinha, Ajit Kumar Seth and K. M. Chandrasekhar had also served four-year terms in the same chair.
Cabinet Secretary provides services and advice to a Cabinet of Ministers as part of the Cabinet Office.
Armenia: Nikol Pashinyan elected as new prime minister
Armenia’s parliament has elected opposition leader Nikol Pashinyan as the new prime minister.
He led the nonviolent protest movement that improbably toppled the government of Armenia. Mr. Pashinyan, a former newspaper editor and political prisoner.
He is the leader of Civil Contract party.
President: Armen Sarkissian
Currency: Armenian dram
AWARDS AND HONOURS
Nisha Bhalla receives WEF 2018 award
Nisha Bhalla, 46, a holistic coach and consultant from Mumbai was felicitated at the recently concluded Annual WEF 2018 Awards.
Women Economic Forum is the largest global gathering of women entrepreneurs and leaders worldwide. This annual event recognises the most successful women across all fields.
Nisha was presented the ‘Excellent Woman of Excellence’ award for her spiritual service at the event on April 28. Nisha conducts holistic courses at her institute ‘Sai Institute of Kosmic Sciences’ in Mumbai.
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