DAILY CURRENT AFFAIRS UPDATE – 4-5th January, 2015
Finance/Business/Economy News
1. Prime Minister
appointed economist Arvind Panagariya as the Vice Chairman of NITI Aayog
appointed economist Arvind Panagariya as the Vice Chairman of NITI Aayog
- Prime Minister Narendra Modi on 5 January 2015 appointed
economist Arvind Panagariya as the Vice-Chairman of National Institution for
Transforming India (NITI) Aayog. He is an Indian-American economist and
Professor of Economics at Columbia University. - Panagariya is an Alma matter of Rajasthan University and
holds a Ph.D. degree in Economics from Princeton University. - He has written around 10 books, the latest being India:
The Emerging Giant, which was published in March 2008 by the Oxford University
Press, New York. - Besides Arvind Panagariya, PM also appointed other
members of the newly constituted NITI Aayog that came into existence on 1
January 2015 replacing 65 year old Planning Commission.
The other members
appointed are:
appointed are:
Full-Time Members
- Bibek Debroy, Economist
- Dr. V.K. Saraswat, Former Secretary Defence Research
& Development
Ex-officio members
- Rajnath Singh, Union Minister of Home Affairs
- Arun Jaitley, Union Minister of Finance, Corporate
Affairs and Information & Broadcasting - Suresh Prabhu, Union Minister of Railways
- Radha Mohan Singh, Union Minister of Agriculture
Special Invitees
- Nitin Gadkari, Union Minister of Road Transport &
Highways and Shipping - Thawar Chand Gehlot, Union Minister of Social Justice and
Empowerment - Smriti Zubin Irani, Union Minister of Human Resource
Development
2. Sutirtha
Bhattacharya took charge as CMD of Coal India Limited
Bhattacharya took charge as CMD of Coal India Limited
- Sutirtha Bhattacharya on 5 January 2015 took charge as
Coal India Limited’s full-time Chairman and Managing Director (CMD). The post
was vacant for over six month. - Prior to taking the charge of Coal India, Bhattacharya, a
1985 batch IAS officer of Andhra Pradesh cadre was the CMD of the state-owned
Singareni Collieries Company. - Bhattacharya’s name was recommended for the CMD of Coal
India Limited (CIL) by the Public Enterprises Services Board (PESB) on 19
November 2014. Later in November 2014, his named was cleared for the top post
by the Appointments Committee of the Cabinet. - Coal India was without a full-time head since May 2014
when S Narsing Rao resigned from the post to join Telangana government. But it
was being handled by additional secretary, coal, AK Dubey who was given the
additional charge as CMD of CIL from 26 June 2014.
3. Centre to implement
Rs.1,900-cr e-governance project “Panch Deep” for ESIC
Rs.1,900-cr e-governance project “Panch Deep” for ESIC
- The Centre is implementing a 1,900 crore e-governance
project called ‘Panch Deep’ to automate transactions of the Employees State
Insurance Corporation (ESIC), Union Minister for Labour Bandaru Dattatreya said
here on Sunday. - Under the project, Enterprise Resource Planning (ERP)
solution would be installed across the country which will give a unique card to
the employees and facilitate clearance of third party bills. - Addressing a press conference here, he said the unique
bio metric cards given to the members would make authentication easier.
Besides, the ERP solution would help build a massive database of health records
of all the members. “It is going to be one of the biggest online databases in
e-governance,” the Minister said.
4. Government to
implement new Companies Act that includes setting up IEPFA and NFRA
implement new Companies Act that includes setting up IEPFA and NFRA
- The corporate affairs ministry has charted its road map
for full implementation of the new Companies Act that envisages setting up
Investor Education and Protection Fund Authority (IEPFA) and National Financial
Reporting Authority (NFRA) within six months. - The government is already in final stages of notifying
rules for IEPFA and NFRA, a quasi-judicial apex body for accounting and
auditing standards, also with powers to probe and review audits of companies. - Since April last year, when the Companies Act 2013 took
effect, only 60% sections of law have been notified while 187 sections related
to investor protection and winding up of companies are yet to be notified.
News Related to India and Indian Polity
5. PM launched
National Programme for LED-based Home and Street Lighting
National Programme for LED-based Home and Street Lighting
- Prime Minister (PM) Narendra Modi on 5 January 2015
launched a National Programme for LED-based Home and Street Lighting in New
Delhi to reduce energy consumption.
Other Launches
- A scheme for Light Emitting Diode (LED) bulb distribution
under the Domestic Efficient Lighting Programme (DELP) was also launched. - The Prime Minister also launched a web-based system to
enable consumers in Delhi to register requests for procuring LED bulbs under
Domestic Efficient Lighting Programme (DELP). Consumers can register either
through the programme website (www.eeslindia.org/Delhi-Launch) or by sending an
SMS to a designated number.
Highlights of the
programme
programme
- LED bulbs will be distributed in a phased manner from
March 2015 onwards. - The entire project of installing LED bulbs for domestic
and street-lighting in 100 cities is targeted for completion by March 2016. - In Delhi, LED bulbs will be provided to all domestic
consumers at an initial payment of 10 rupees each and the balance amount of 120
rupees each will be recovered from their electricity bill. - Therefore, the cost for an LED bulb to domestic consumer
will be 130 rupees through this programme due to bulk procurement, compared to
the current open market retail price in the range of 350-600 rupees for LED
bulbs. - The estimated annual savings for households in Delhi per
LED bulb will be 162 rupees. The LED bulbs will have a warranty of 3 years. - It will result in annual saving of energy by about 24
crore units every year.
6. Commemorative coins
in honour of Jamsetje Tata
in honour of Jamsetje Tata
- The government will soon issue commemorative coins in
honour of Tata Group founder Jamsetji Nusserwanji Tata to mark his 175th birth
anniversary. - Jamsetji Tata, considered as the father of modern
industry in India, will be the first industrialist to be felicitated by the
Indian government in such a manner. - The official said Jamsetji was chosen by the government
because he is a legendary figure and the government also wants to encourage
Indian businesses through this initiative. - The government has so far minted coins in honour of
artists, freedom fighters, scientists, institutions and organisations. - Previously, the government had honoured Jamsetji by
releasing postal stamps — one in 1958 and another in 1965. - Jamsetje Tata founded Tata Group, India’s largest
business conglomerate. He was born on March 3, 1839 in Navsari, a small town in
south Gujarat.
7. Mumbai Tiffin Box
Suppliers Association GS Gangaram Laxman Talekar died
Suppliers Association GS Gangaram Laxman Talekar died
- Mumbai Tiffin Box Suppliers Association General Secretary
(GS) Gangaram Laxman Talekar passed away on 31 December 2014 following a heart
attack. - Earlier, he had worked with Central Bank and Hindustan
Mills for small duration. - He has given various Lecture in IIMS, Management
Institutes, IIT and Multinational
Companies on topics like time management, accuracy and supply network. - Mumbai Tiffin Box Suppliers Association is famously known
as Mumbai Dabbawala Association. - Dabbawalas (one who carries the box) carry and deliver
freshly made food in a lunch box (Dabba) and deliver it to offices in the
Indian city of Mumbai.
8. ICG Rajratan: The
Inshore Patrol Vehicles
Inshore Patrol Vehicles
- Indian Coast Guard (ICG) Rajratan, the fifth ship in the
series of eight Inshore Patrol Vessels (IPVs) ordered after the 26/11 attack,
was in news in the first week of January 2015. - The ship was deployed in 48-hour search operation at and
around the site where the Pakistani terror boat sank after its crew set it
ablaze on 1 January 2015. - However, the ship could neither gather the debris of the
fishing boat nor traced any survivors of bodies of the boats suspected
terrorist crew. - The only evidence of the incident that occurred now lies
in the footage shot by sailors onboard ICGS Rajratan.
9. Transgender Madhu
Kinnar won Mayoral election from Raigarh Municipal Corporation
Kinnar won Mayoral election from Raigarh Municipal Corporation
- Independent candidate and transgender Madhu Kinnar on 4
January 2015 won the Mayoral election in Chhattisgarh’s Raigarh Municipal
Corporation. Kinnar won the election by 4537 votes against Bharatiya Janata Party’s
(BJP) Mahaveer Guruji. - With this, she scripted history by becoming the first
transgender to get elected as mayor in the state. - Madhu Kinnar, whose original name is Naresh Chauhan,
funded her electoral campaign by working as a singer and dancer on trains. - Her win follows Supreme Court’s decision, in which it
ruled that transgender people could be legally recognised as a third gender. - After the SC’s decision, Tamil-language Lotus TV based in
the city of Coimbatore in September 2014 recruited India’s first ever
transgender news anchor, Padmini Prakash.
International News
10. Jiaolong, the
Chinese deep sea submersible, began exploration in Indian Ocean
Chinese deep sea submersible, began exploration in Indian Ocean
- China’s deep sea manned submersible Jiaolong on 2 January
2015 started exploration for the first time in the southwestern Indian Ocean.
The submersible will search for active hydrothermal vent. - The Chinese vessel Jiaolong, named after a mythical
dragon, during its 120-day expedition will dive in the ocean with an aim to
collect sample of research polymetallic sulfides, biological diversity,
hydrothermal microbes and genetic resources for research purposes. - Hydrothermal sulfide is a kind of sea-bed deposit
containing copper, zinc and precious metals such as gold and silver.
11. Project LettuceOnMars:
To grow lettuce on Mars in 2018
To grow lettuce on Mars in 2018
- Scientists at University of Southampton, UK are planning
to grow lettuce on Mars in 2018 under the Project #LettuceOnMars. Under the
project the team will grow small plants with gases obtained from the Martian
atmosphere, with a minimum of material imported from Earth. - The aim of the project is to prove that plant life can
thrive in the controlled greenhouse environment and that the resources on Mars
can be appropriately managed to establish a permanent human settlement. - The scientists led by Suzanna Lucarotti will demonstrate
their project via a payload in the form of lettuce that will be carried by Mars
One Lander in 2018. - Mars One Lander will be launched by Mars One which is a
not-for-profit foundation that aims to establish a permanent human settlement
on Mars by 2026.
12. New Jersey to host
International Hindi Conference in April 2015
International Hindi Conference in April 2015
- The International Hindi Conference will be hosted by New
Jersey in April 2015. The announcement was made on 4 January 2015. - The theme of the International Hindi Conference 2015 is
Expanding World of Hindi: Possibilities and Challenges.
Highlights of the
International Hindi Conference 2015
International Hindi Conference 2015
- The conference will be attended by Hindi scholars from
various parts of the world, in particular from the United States and India. - The participants of the International Hindi Conference
will discuss the current status of the teaching and learning of Hindi among
other things. - The participants are also expected to discuss individual
and organisational partnerships and leadership and field capacity building and
infrastructure building skills and topics. - Topics such as Hindi in higher education, Expanding the
use of Hindi in businesses and commerce, Community support for Hindi and
Current status of the teaching and learning of Hindi will be taken up in the
conference.
13. Edward Brooke,
first black elected to U.S. Senate, dies
first black elected to U.S. Senate, dies
- Edward Brooke, the Massachusetts Republican who was the
first African-American to be popularly elected to the U.S. Senate, died on
Saturday, according to Massachusetts Republican Party spokeswoman Kirsten
Hughes. - Brooke, 95, was elected to Congress in 1966 by voters in
Massachusetts at a time when the nation was gripped in racial unrest. - He was serving as the Massachusetts attorney general when
he was elected to the U.S. Senate. - There had been two black senators shortly after the Civil
War but until early in the 20th Century, senators were picked by state
legislatures and not by popular vote.
Sports News
14. Sports Ministry
recommends Saina’s name for Padma Bhushan
recommends Saina’s name for Padma Bhushan
- The Sports Ministry today decided to recommend ace
shuttler Saina Nehwal for the Padma Bhushan award but insisted that it did not
receive her nomination from the Badminton Association of India (BAI) within the
stipulated deadline. - “In view of the achievements of Ms. Saina Nehwal, the
Department of Sports has decided to recommend her case for Padma Bhushan to the
Ministry of Home Affairs as a special case although the last date for making
the recommendation is long over,” the Ministry said in a statement. - On Saturday, a disappointed Saina had stated that the
Badminton Association of India (BAI) had recommended her name for the Padma
Bhushan in August last year but the Sports Ministry rejected her application,
citing norms. - But Sports Minister Sarbananda Sonowal refuted the claim,
saying that his ministry received the letter of nomination only on Saturday. - The Ministry today reiterated its stand and said not just
this year, it didn’t receive any letter from BAI nominating Saina for the Padma
awards in 2013 as well.
15. Jiji Thomson
resigned as Director General of SAI
resigned as Director General of SAI
- Jiji Thomson on 2 January 2015 resigned as Director
General of Sports Authority of India
(SAI) with immediate effect. Thomson took charge of SAI in March 2013. - He claimed that the central government delayed his
promotion as Sports Secretary for six months before he finally requested for
his immediate repatriation to his parent cadre in Kerala. - Jiji Thomson will now take over as Chief Secretary of
Kerala on 31 January 2015. - He was Special Director General of Organisation C
Commonwealth Games under Union Ministry of Youth Affairs & Sports from 2010
to 2012. - From 2012 to 2013, Thomson served as the Managing
Director of TRIFED under Union Ministry of Tribal Affairs.
16. Andy Murray won
ATP World Tennis Championship in Abu Dhabi
ATP World Tennis Championship in Abu Dhabi
- Andy Murray won the ATP World Tennis Championship at
Zayed Sports City in Abu Dhabi on 4 January 2015. He won the title after the
world number one Novak Djokovic withdrew from the final match citing illness. - This was the first title of year 2015 for Andy Murray.
- In the Semi-finals, Murray defeated Rafael Nadal 6-2, 6-0
in straight sets. In the other semi-final, Novak Djokovic defeated the
Australian Open Champion Stanislas Wawarinka 6-1, 6-2.