DAILY UPDATED CURRENT AFFAIRS – 21.01.2018 TO 24.01.2018 ECONOMY India’s richest 1% corner 73% of wealth generation: Oxfam Survey • According to latest survey released by the international rights group Oxfam, richest 1% in India cornered 73% of the wealth generated in country in 2017. The survey shows worrying picture of rising income inequality. • It was released as part of report titled ‘Reward Work, Not Wealth’, revealing how global economy enables wealthy elite to accumulate vast wealth even as hundreds of millions of people struggle to survive on poverty pay. Globally 82% of wealth generated in 2017 worldwide went to 1%. World Bank, India ink $120 mn pact for improved water supply in Uttarakhand India has signed $120 million loan agreement with multilateral lending agency World Bank to help increase access to improved water supply services in peri-urban areas in Uttarakhand. The agreement was signed between Government of India, Government of Uttarakhand and World Bank Board. Indian economy to grow at 7.4% in 2018: IMF • In its latest World Economic Outlook (January 2018 update) released by International Monetary Fund (IMF), India is projected to grow at 7.4% of its gross domestic product (GDP) in 2018. • IMF projected India’s GDP growth rate at 7.4% in 2018 and 7.8% in 2019. • International Monetary Fund-Headquarters: Washington, D.C CEO: Christine Lagarde India to surpass China as fastest growing large economy in 2018 • According to Sanctum Wealth Management report, India will become the fastest growing large economy in the world in 2018, surpassing China and the country’s equity market will jump to become the fifth largest in the world. • India is looking to achieve a 7.5 per cent growth in its economy, while the developed economies are pushing for 2-3 per cent growth. • Sanctum is a Delhi-based professional wealth management company. The company aims to provide end-to- end wealth management solutions for High net worth Individuals (HNIs). ONGC acquires 51.11% stake in HPCL for Rs 36,915 crore The Union Government and state-run oil explorer ONGC clinched deal for acquisition of government’s 51.11% stake in Hindustan Petroleum Corporation (HPCL) for a consideration of Rs. 36,915 crore. ONGC-Headquarters: Uttarakhand, CEO: Shashi Shanker. HPCL-Headquarters: Mumbai, CEO: Mukesh Kumar Surana Allahabad Bank to issue shares Allahabad Bank has became the 1st public sector lender to offer an employee stock option scheme, under which it will offer 5 crore ordinary shares to its staff. Allahabad Bank-Headquarters: Kolkata, CEO: Usha Ananthasubramanian Mauritius Largest Source of FDI in India- RBI • Mauritius was the largest source of foreign investment in India (21.8 per cent share at market value), followed by the US and the UK, according to a census by the Reserve Bank of India. • Singapore and Japan were the next two sources of foreign direct investment (FDI), reported the Census on Foreign Liabilities and Assets of Indian Direct Investment Companies 2016-17, released by RBI. • Mauritius Capital- Port Louis, Currency- Mauritian rupee. President: Ameenah Gurib, Prime Minister: Pravind Jugnauth NATIONAL Himachal Pradesh launches Nutrition Scheme for HIV-Positive Children • Himachal Pradesh Chief Minister Jai Ram Thakur launched a state-level nutrition scheme for HIV-positive children on the occasion of National Youth Day. • The nutrition scheme will provide nutritional supplement and will boost the immunity of over 400 children up to the age of 18. Earlier in January 2018, the state government also made it mandatory for every expectant mother to go for an HIV test. International Dam Safety Conference to begin in Thiruvananthapuram • Kerala Chief Minister Pinarayi Vijayan inagurated the International Dam Safety Conference - 2018 at Thiruvananthapuram, the capital city of Kerala. • The conference will also witness the launch of a software programme called, ‘Dam Health and Rehabilitation Monitoring Application (DHARMA).It is a web tool to digitise all dam-related data effectively. • The annual conference is organised under the Dam Safety Rehabilitation and Improvement Project (DRIP) project, which is being run by the Ministry of Water Resources, River Development and Ganga Rejuvenation (MoWR,RD & GR) in the seven states of Jharkhand, Karnataka, Kerala, Madhya Pradesh, Odisha, Tamil Nadu and Uttarakhand. • DRIP Project with financial support from the World Bank, was launched in 2012 with a total financial outlay of Rs 2100 Crores. Swachh Bharat Mission-Urban launches Smart Star-Rating for garbage-free cities • Hardeep Singh Puri, Minister of State (I/C) for Housing and Urban Affairs along with the Chief Minister of Goa, Manohar Parrikar launched the ‘Protocol for Star Rating of Garbage-Free Cities’ in Goa. • The SMART star-rating initiative, developed by the Swachh Bharat Mission – Urban would rate the cities on a 7-star rating system, which would be based on multiple cleanliness indicators for solid waste management. Manipur Government launches health assurance scheme for poor & disabled people • Manipur Chief Minister N Biren Singh launched the Chief Minister-gi Hakshelgi Tengbang (CMHT), a health assurance scheme for the poor and disabled people. 1441, Opp. IOCL Petrol Pump, CRPF Square, Bhubaneswar-750015 1 Ph. : (0674) 6556677, 8093556677. Web : www.vanik.org, E-mail : [email protected] DAILY UPDATED CURRENT AFFAIRS – 21.01.2018 TO 24.01.2018 • The CMHT scheme will provide cashless treatment to poor at government hospitals, health centres and other empanelled selected private hospitals. • The scheme will provide insurance cover up to Rs 2 lakh per eligible family in treatment of seven critical identified critical ailments – cardiovascular diseases, neurological conditions, kidney ailments, liver ailments, cancer, neo-natal diseases and burns per year. Telangana inks MoU with ISE Foods • Telangana has signed a MoU with the Clean Authority of Tokyo for solid waste management. The two sides will exchange expertise and build technical cooperation in waste management. • ISE Foods will set up a pilot project for egg production using advanced technologies. • The firm will also set up a solar park to support the egg production facility, including the development of storage devices. Odisha plans to complete EWDS by 2018 The Odisha government has planned to commission Early Warning Dissemination System (EWDS) in coastal areas of 6 districts by March 2018. This is a part of World Bank-supported National Cyclone Risk Mitigation Project. Total cost of the project is Rs 75 crore. India restricts use of imported petcoke The environment ministry has placed restrictions on the use of imported petroleum coke in Delhi & its surrounding region to curb rising air pollution. Only consented & registered industrial units of NCR States shall be permitted to directly import pet coke. India is the world’s largest consumer of petcoke & imports over half its annual petcoke consumption of about 27mn tonnes mainly from US. Bharat Ke Veer anthem launched by HM • Home Minister Rajnath Singh has launched Bharat Ke Veer anthem and a short film on India’s bravehearts. The anthem is sung and composed by singer Kailash Kher. • The ‘Bharat ke Veer’ initiative was launched by the HM in April 2017 and seeks to help families of paramilitary personnel killed in combat operations. So far, it has raised Rs. 12.93 crore for kin of paramilitary personnel killed in the line of duty. • Bharat ke Veer is web portal and mobile application launched by MHA. The portal is supported by National Informatics Centre (NIC) and powered by State Bank of India (SBI). • Akshay Kumar is the brand ambassador of the ‘Bharat ke Veer’ initiatives. New Delhi to host Ramayana Festival of ASEAN Countries • National capital New Delhi will host the Ramayana Festival of the Association of South-East Asian Nations (ASEAN) countries at the Kamani Auditorium from January 20 to 24. • The five-day gala festival to be organised by Indian Council for Cultural Relations will witness the convergence of top groups from all 10 ASEAN member countries - Indonesia, Singapore, Philippines, Malaysia, Brunei, Thailand, Cambodia, Lao PDR, Myanmar and Vietnam. Puducherry’s 1st POPSK at Karaikal • The first Post Office Passport Seva Kendra (POPSK) of Puducherry was inaugurated by Smt. Sushma Swaraj, Minister for External Affairs at Karaikal. • The POPSK at Karaikal is the 60th POPSK to have become functional since the launch of the scheme in January 2017. It is the first POPSK to become operational in the UT of Puducherry. MEITY Launches Cyber Surakshit Bharat to Strengthen Cybersecurity • The Ministry of Electronics and Information Technology (MeitY), announced the 'Cyber Surakshit Bharat' initiative in association with National e-Governance Division (NeGD) and industry partners. • Ravi Shankar Prasad is the present Union Minister of Electronics and Information Technology. Mercedes-Benz first to launch locally-made BS-VI-compliant car German auto major Mercedes-Benz has unveiled India’s first BS-VI-compliant S Class car produced at its Pune facility. The BS-VI-compliant S Class car was unveiled more than two years ahead of Government’s deadline of April 2020 for switching to new BS-VI emission norms. Odisha launches e-Hospital system On Jan 19, Odisha State Government launched Odisha e-Hospital Management Information System. It is an online platform which hosts all clinical parameters of patients and reporting of performance criteria of hospitals. Through OeHIMS, patients can be registered online. Besides, individual electronic health records can be viewed and downloaded online through web portal or mobile application. INTERNATIONAL 48th World Economic Forum annual meet begins in Davos • The 48th annual meeting of the World Economic Forum (WEF) began in Davos, Switzerland with the theme 'Creating a Shared Future in a Fractured World'. • WEF Founder and Executive Chairman Klaus Schwab inagurated the summit .WEF Headquarters: Cologny, Switzerland • The Indian contingent at the summit, which is led by Prime Minister Narendra Modi, is the largest ever with over 130 participants.