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Important Current Affairs 3rd November 2017

Important Current Affairs 3rd November 2017

Current Affairs 3rd November 2017: NATIONAL NEWS

Hyderabad will host a three-day conference to discuss urban traffic challenges and their solution

Nearly 1000 policymakers, including the Mayors and the Municipal Councilors from five southern states, from tomorrow in cities , during the three-day conference in 20 states and administrators of 25 countries, experts, urban planners, researchers and technology and service providers, in Hitec City, Hyderabad. 
●    Vice President Shri M. Venkaiah Naidu will inaugurate the 'Urban Dynamics India Conference & Exhibition' tomorrow.
●    The Chief Minister of Telangana Shri K. Chandrasekhar Rao and Union Minister of Housing and Urban Affairs, Shri Hardeep Singh Puri will also address the inaugural session.
●    When Mr. M. Venkaiah Naidu was the Minister of Housing and Urban Poverty Alleviation at the Center, last year he had selected Hyderabad for the 10th UMI Conference and the exhibition.
●    Hyderabad is hosting this conference for the first time since the launch of UMI Conference in 2008.
●    The conference is being organized jointly by Union Ministry of Housing and Urban Affairs, Telangana Government and France's Transport Institute 'Kodatu'.
●    The objective of the UMI Conference is to provide information on traffic, mobility topics and traffic conditions in different cities of the whole world and exchange ideas.
●    During the conference, various aspects of traffic related to 86 cities of India including 36 foreign cities will be discussed in detail.

Meeting with Radha Mohan Singh and Minister of State for Agriculture and Food, Germany Mr. Peter Blazer

Welcoming Mr. Peter Blaser, Minister of State for Agriculture and Farmers Welfare, Germany, Shri Radha Mohan Singh,  said that India’s relations with Germany have always been close and friendly.
●    These relations are based on common democratic values, fundamental rights and mutual trust.
●    Shri Singh said that he is particularly happy that cooperation between agriculture and allied sectors is progressing rapidly between the two countries.
●    Shri Singh said that 6 meetings of the Joint Working Group have been held since 2008; The Indian Agricultural Skills Council (ASCI) and the German Agricultural Trade Alliance (GAA) have agreed on mutually agreeing to set up a center of excellence in the field of agriculture.
●    Shri Singh said that the cooperation being done in the Seed area is particularly remarkable.
●    As the project implementation agreement for the next phase (January 2017 to December 2018) was signed in May 2017.
●    The Union Agriculture Minister said that while briefing about the various initiatives taken by the government in the agriculture sector, he said that the current level of bilateral trade can be further extended in agricultural products.
●    Mr. Singh urged the Minister of Germany to use his post to resolve promptly the Tricyclazole (TCA) issue related to Indian rice exported to Germany and other countries of the European Union.

Prime Minister launches investment portal 'Investment Bandhu'

Prime Minister Narendra Modi inaugurated the World Food Bharat-India in Vigyan Bhawan, New Delhi today.
●    This three-day event has been organized by the Ministry of Food Processing, under the guidance of Union Food Processing Minister Smt. Harsimrat Kaur Badal.
●    Armenia President H. S. Srpson, Latvia Prime Minister H.E. Mr. Peter Blaser, Deputy Minister for Economic Development of Italy, Mr. Peter Blaser of Italy, Mr. Asben Lunde Larsen, Federal Minister for Food and Agriculture of Germany and the Environment and Food Minister of Denmark were also present.
●    For the first time in India, World Food Conference has been organized. On this historic occasion, Prime Minister Narendra Modi launched the 'Investment Bandhu' portal or investor friend.
●    This Portal will contain information about the policies of Central and State Governments and the concessions given under the Food Processing Zone.
●    It will be a common platform for businessmen, farmers, traders, processing people and logistic operators.
●    This portal has included publications with the Ministry of Food Processing Industries, which will help investors to make decisions.
●    The Prime Minister released a memorial ticket and a coffee table book on Indian cuisine.

Successful test of guided bombs

The successful light-weight guided bomb 'Saw' (SAAW, Smart NT Airfield Weapon) developed in indigenously, successfully tested from IAF aircraft in the ITR range in Chandipur, Odisha.
●    Guided bombs coming out of the aircraft, with precision, achieved the target, located 70 kilometers away using the micro-navigation system.
●    Keeping in mind the different conditions and distances, three tests were conducted and all were successful.
●    This guided bomb has been developed by the DRDO Research Center Building (RCI) with the help of other departments of DRDO and Indian Air Force.
●    Defense Minister Smt. Nirmala Sitharaman congratulated the Indian Air Force and DRDO scientists for these successful trials.
●    Dr. S.Christopher, President of DRDO and Defense R & D Department congratulated the team and said that Saawe will soon be included in the Armed Forces.
●    Dr. G. Satish Reddy, Director General of Missile and Strategic Systems said that guided bombs are a milestone in indigenous capacity development.

JWGCTC's fourth meeting was organized in India

Under the Indo-US Defense Trade and Technical Initiative, the fourth meeting of the Joint Working Group (JWGCTC) on Aircraft Carrier Technical Cooperation was held from 29 October to 03 November in India.
●    A 13-member US delegation led by Rear Admiral Brian Antonio, Chief of Aircraft Career Program, visited the testing facility center located on the coast of Goa, Naval Center at Karwar, INS Vikramaditya in the sea, visiting the headquarters of Mazagon Dock Limited and the Western Naval Command. 
●    The concluding meeting of the Joint Working Group was held in New Delhi on November 03, 2017, headed by Rear Admiral Brian Antonio, Chief Admiral D.M. Deshpande, Chief of the Aircraft Carrier Program, and the controlling warship production and acquisition.
●    At the meeting, both sides discussed the achievements of the Joint Working Group and in the future agreed on mutual cooperation on different dimensions of aircraft carrier technology such as design, construction, testing process and project management.
●    A joint statement was signed on 03 November 2017.
●    This meeting reflects the growing mutual cooperation between the two countries in the aircraft carrier technology. 
●    Both sides agreed to hold a meeting in the United States next year.

Launch of Deendayal 'touch' scheme to encourage stamp collection

Communications Minister Mr. Manoj Sinha today launched Deendayal Touch Scheme to promote postal stamp collection.
●    This is a scholarship scheme for school children across India.
●    Under the 'touch' scheme, class VI to IX will be given scholarships annually to those children who have good academic results and who have chosen the postal stamp collection as an interest.
●    Based on a competitive process to be held in all the post circles, students interested in postage stamp collection will be selected.
●    After introducing the scheme, giving information to the media, Mr. Sinha said that under the scheme, there is a proposal to provide 920 scholarships.
●    Each postal circle will select a maximum of 40 students.
●    In class VI, VII, VIII, and IX, 10 students will each be selected.
●    The amount of scholarship is Rs 500 per month (Rs 6000 per annum).
●    The Minister said that in order to get scholarship, the child should be a student of the registered school, the school should have a stamp collecting club and the child should be a member of this club.

Current Affairs 3rd November 2017: INTERNATIONAL RELATION

Armenia President meets President


Armenia President Serge Sargsyan met President Ramnath Kovind at the Rashtrapati Bhavan today (03 November, 2017).
●    Welcoming President of Armenia on his first visit to India, congratulated Armenia on successfully guiding President of the Presidential system in the parliamentary system.
●    The President thanked Mr. Sargsyan for his presence at World Food India Festival.
●    The President said that India and Armenia share a very special relationship.
●    The roots of our warmth and friendly relations are rooted in history. Our citizens have been associated with each other for centuries.
●    In other cities of Kolkata, Chennai and India, citizens of Armenia are lovingly living with Indian citizens.
●    We feel very proud about this shared legacy.
●    The President said that our bilateral relations are strong.
●    Health sector is a potential area of bilateral cooperation.
●    He expressed confidence that this visit would give a new impetus to India-Armenia relations.

Current Affairs 3rd November 2017: DAYS AND DATES

Bureau of Indian Standards celebrates 48th World Standard Day

The Minister of Consumer Affairs, Food and Public Distribution, Shri Ram Vilas Paswan has said that the Department of Consumer Affairs is working on bringing the certification regulations under the new BIS Act 2016.
●    Mr. Paswan appreciated the amendment of standards on gold ornaments with only three sections, namely, 14, 18 and 22 carats under the certification.
●    Mr. Paswan today expressed his gratitude while inaugurating the seminar on 'Making cities and smart' organized by the Bureau of Indian Standards on the occasion of 48th World Standard Day in New Delhi.
●    Shri Paswan gave special emphasis on consumer protection, which will be promoted through new consumer protection and BIS act.
●    Shri Ram Vilas Paswan released a pre-standardization report for the integrated, safe and flexible method for smart cities.
●    Mr. Paswan said that building a smart city is a very complex obligation, which has its own challenges and the standard is the only integrated separator, which can simplify this obligation.
●    National standards make the work related to Smart City safe and easy.

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Important Current Affairs 2nd November 2017

Important Current Affairs 2nd November 2017

Current Affairs 2nd November 2017: NATIONAL NEWS

President inaugurates 21st World Mental Health Conference

President Shri Ramnath Kovind inaugurated the 21st World Mental Health Conference in New Delhi today (November 2, 2017).
●    This conference was organized by the World Federation for Mental Health in collaboration with the Conference Career Foundation and other organizations.
●    In his address on this occasion the President said that for the first time in India, the World Mental Health Conference is being organized.
●    The number of cases related to mental health is increasing in our country.
●    According to the National Mental Health Survey 2016, 14 percent of India's total population is suffering from mental health problems.
●    The President said that the people living in metros and the risk of mental illness in the youth are the highest.
●    65% of India's population is under 35 years of age.
●    The rapid urbanization of our society is taking place, in this way the risk of possible mental health pandemic has also increased.
 

Prime Minister will inaugurate the World Food India Festival - 2017

Prime Minister Shri Narendra Modi will inaugurate the World Food Bharat Festival (WFI) - 2017 in Vigyan Bhawan, New Delhi on November 03, 2017.
●    WFI is the most expected International Mega Food Festival.
●    India will welcome the biggest gathering of global investors and industrialists of big companies of food sector in New Delhi during November 3-5, 2017.
●    The purpose of the World Food Festival organized by the Ministry of Food Processing Industries under the leadership of the Union Minister Smt. Harsimrat Kaur Badal is to transform the food economy and to establish India as a preferred investment destination and sourcing hub for the global food processing industry. 
●    For the first time, India is hosting such a function for the food processing sector.
●    The World Food India Forum will strengthen India's position as a global food factory and it is a positive step towards the country's food security.
●    During the next three years in India, it is expected to attract investment of ten billion dollars in the food processing sector and create one million jobs.

For the first time in India, a 220 KV voltage level sub-station was constructed at an altitude of 11,500 ft

Powergrid successfully completed the work of 220 KV Sustaining (Srinagar) -Help Transmission Line 220 KV S / C Leh-Khalasi line section with 220/66 KV GIS sub-station in Leh and Khalasi on October 31, 2017. 
●    For the first time in India, 220 KV voltage level sub-station has been constructed at an altitude of 11,500 ft.
●    This prestigious project of the Government of India linking the Leh-Ladakh region with the grid in Jammu and Kashmir.
●    The strategic importance of this project was laid on 12 August 2014 by the Prime Minister.
●    The implementation of Srinagar-Leh transmission system has been handed over to Power Grid Corporation of India (Powergrid).
●    On the launch of these facilities, the facility of power supply from the Hydroelectric power station of Neemo Bajo (3x15 MW) in the Leh-Ladakh region will be facilitated.
●    The work of the remaining section of the project ie Khalasi-Kargil-Dras-Alsteng (Srinagar) section is in progress.
●    On completion of this, with reliability in all seasons, the facility of transmission of electricity in the Ladakh region can be provided directly from the Northern Grid.


Nitin Gadkari reviewed PMKSY project in Andhra Pradesh, Odisha and Karnataka

Central Water Resources, River Development and Ganga Conservation Minister, Shri Nitin Gadkari reviewed the Prime Minister's Agricultural Irrigation Scheme (PMKSY) projects in Andhra Pradesh, Odisha and Karnataka states at a high level meeting in New Delhi yesterday.
●    Expressing satisfaction over the progress of various PMKSY projects in these states, Shri Gadkari asked the officers to implement the pending projects without any delay as per the prescribed time limit.
●    The Minister said that one of the eight PMKSY projects in Andhra Pradesh has been completed and six will be completed during the current financial year.
●    He said that the remaining one project will be completed during the next financial year.
●    Regarding Odisha, the Minister said that out of eight PMKSY projects, two have been completed and three will be completed during the current financial year.
●    He said that the remaining three projects will be completed during the next financial year.
●    On the AIBP projects of Karnataka, the Minister informed that a project has been completed and the remaining four will be completed during the next financial year.
●    The Central Water Resources Ministry and senior officials of the three states participated in the meeting.

Current Affairs 2nd November 2017: DEFENSE

Civil Aviation Rule (CAR) Draft Act declaration for citizen use of drones

The Directorate General of Civil Aviation announced yesterday the draft rules for civilian use of remote piloted aircraft system ie drone.
●    Union Civil Aviation Minister Shri Ashok Gajapathi Raju and Minister of State for Civil Aviation Mr. Jayant Sinha gave information to the media.
●    According to the pilotless aircraft system draft, the drone is classified according to the maximum weight being taken as follows:
●    Nano - less than or equal to 250 grams
●    Micro - Over 250 grams and less than or equal to 2 kg
●    Mini - more than 2 kg and less than or equal to 25 kg
●    Small - More than 25kg and less than 150 or less
●    Large - Over 150 kg
●    According to the format of the draft, all types of drones can be displayed in the visual line and only in the day, whose height does not exceed 200 feet.
●    The drone is not allowed to carry or carry any dangerous material, animal or human.

Minister of State for Defense inaugurated a seminar on "Challenges of tunneling for highways in the Himalayan region"

The Minister of State for Defense, Dr. Subhash Bhamre inaugurated a two-day seminar organized on 'Challenges to design, investigate, design and manufacture tunnels for highways in the Himalaya region'.
●    This seminar has been organized by the Border Roads Organization (BRO).
●    Addressing the program, Dr. Bhamre said that road infrastructure plays an important role in attracting foreign investment and attracting foreign countries to the mainland, creating the country's development, employment generation.
●    The infrastructure of roads in the Himalayas has special significance, because it is the only means of transport and development of the residents of this region.
●    From the point of view of security, the role of roads used in all seasons becomes even more important.
●    Dr. Bhamre said that many challenges have to be faced in the construction of road network in upper-Himalayan regions.
●    The only solution in many areas is to build a tunnel.
●    Therefore, construction of tunnels for road and rail networks in the Himalayan region is of particular importance, although initially it seems highly expensive.
●    Dr. Subhash Bhamre further said that the country is progressing rapidly in the field of tunnel construction for roads and railways.


Integrated Quarter Master Package (IQMP) software application released for Indian Army

Chief of Army Staff Lieutenant General Sharat Chand released Integrated Quarter Master Package (IQMP) software application for the Indian Army in a program held on 2 November 2017 in South Block.
●    IQMP is web based software developed by the Army Software Development Center in collaboration with M / s TCS Limited.
●    This application is related to the logistics requirements of a military unit.
●    This application will replace applications like 'Clothing' and 'Quarter Master Package'.
●    There are 13 modules in this package, which will meet the military unit level logistic requirements at the level of automation.
●    Various types of military units can be changed according to this application and data and other information can be shared.
●    The purpose of developing the software is to bring speed, stability and transparency in the logistics context at the military unit level.
●    This will help in effective logistics management and decision making and thus help the military units to get ready for the war.

Current Affairs 2nd November 2017: GLOBAL NEWS

Dharmendra Pradhan will attend the Round Table Meeting of 7th Asian Energy Ministers

The Minister of Petroleum & Natural Gas Shri Dharmendra Pradhan today concluded a two-day visit to Bangkok where he participated in the Round Table Meeting of 7th Asian Energy Ministers organized by the International Energy Forum (IEF).
●    India is currently the Chairman of the IEF, which is the largest intergovernmental organization in the oil and gas sector of 72 member countries where 90 per cent of global supply and demand of oil and gas is met.
●    Member countries include developing, developing, OPEC, non-OPEC and G-20 countries.
●    18 countries of G20 countries are members of the IEF.
●    During his visit Shri Pradhan met the Ministers of Petroleum and Natural Gas from Saudi Arabia, UAE, Qatar, Thailand, Bahrain, Brunei, Bangladesh, Myanmar, Kuwait, Yemen and other countries.
●    Addressing a full session on natural gas, he outlined the importance of recovering from market and policy barriers and moving towards a flexible, transparent and non-discriminatory global LNG business system.
●    He also underlined the efforts of the government to move towards a gas based economy and in terms of opportunities for foreign direct investment (FDI) in the construction of infrastructure for gas including LNG Terminal, Pipeline, CGD etc.

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Important Current Affairs 1st November 2017

Important Current Affairs 1st November 2017

Current Affairs 1st November 2017: NATIONAL NEWS

President inaugurates World Clubfoot Conference

President Ramnath Kovind inaugurated the first global clubfoot conference organized by Kyuri India in collaboration with the Ministry of Health and Family Welfare in Delhi on 01 November 2017.

●    Clubsfoot bone is a malfunction that occurs from the time of birth.
●    If it is not treated at the beginning, it can lead to disability.
●    It affects the child's confidence.
●    This has adverse effects on child schooling.
●    Disability affects 10 million people in India.
●    Divas should also have equal opportunities in every field.
●    Many types of disability can be treated or prevented.
●    The task of defense, treatment and involvement in the mainstream should be equally.
●    New cases of poliomyelitis have not come to light and it has been completely eliminated.
●    In the last 6 years, no case of paralysis poliomyelitis has come up.

Approval of amendment to the National Teacher Training Act, 1993

Under the chairmanship of Narendra Modi, the Union Cabinet has given its approval for the amendment in the National Teacher Training Act, 1993, to present this bill in Parliament under the National Teacher Training (Amendment) Act, 2017.

●    In this, there is a provision to give recognition to the Central / State / Universities that operate teacher training courses without retrospective effect.
●    In this amendment, there is a provision to give recognition to the institutions / universities funded by the Center / State / Union Territory, running the teacher training courses without the NCEE accreditation, till the academic session 2017-2018.
●    It is being recognized as one-stop measurement of the Geological Survey, so that these institutions have passed.
●    With this amendment, students who have already studied in these institutions / universities or have already passed there will be eligible for employment as a teacher.
 

Nitin Gadkari launches digital ship of steel cargo

Mr. Nitin Gadkari, the Union Minister of Water Resources, Road Transport and Highways, Water Resources, River Development and Ganga Conservation, today launched the digital cable of 230,000 tonnes of steel cargo going to Ahmedabad, Mumbai and Kochi from the coastal sea route via Wyjec Port.
●    In his address on this occasion, the Minister said that Rashtriya Ispat Nigam Limited (RINL) was sending its product to 22 stock yards through road and rail transport so far.
●    The coastal sea route will now save 380 million tonnes of kilometer compared to the railways every year.
●    This will reduce transportation costs.
●    This is important because RINL has doubled its production capacity (6.3 million tonnes).
●    Manufacturers should use coastal sea routes.
●    Located near RINL port.
●    It has signed a one-year agreement with Visakhapatnam to send steel to its yards in Ahmedabad, Mumbai and Kochi.
●    The Rs 75-crore agreement is with Shreyas Shipping, a member of Trans World Group of Dubai.

Current Affairs 1st November 2017: ECONOMICS

India and Ethiopia approves trade agreement

Under the chairmanship of Narendra Modi, the Union Cabinet has given its official approval to trade agreement between India and Ethiopia for strengthening and promoting trade and economic cooperation.

●    India's Presidential visit to Ethiopia from October 4 to 6, 2017
●    This trade agreement was signed on October 5, 2017 during this visit.
●    This trade agreement was signed in 1982, and the current trading agreement will replace it.
●    In this trade agreement, all necessary measures have been made for promotion in the trade, economic cooperation, investment and technical sector.
 

EESL launches a $454 million project in partnership 
with GEF

Given the efforts of India in complying with the creation of low emissions economy and energy efficiency programs, Global Environment Facility (GEF) has started a partnership with Energy Efficient Services Limited (EESL) under the Ministry of Energy here today.
●    This project will receive a total fund of $ 454 million.
●    GEL will give $ 20 million in grants and $ 434 million will be in the form of debt and equity.
●    This includes a $ 200 million loan given by Asian Development Bank.
●    On this occasion, Energy Secretary Shri Ajay Kumar Bhalla said that at present two thirds of India's energy production is based on fossil fuel (fossil fuels).
●    He said that India's goal is to become 40 percent of the total capacity by 2030 on clean energy resources.

Current Affairs 1st November 2017: INTERNATIONAL RELATION

Agreement between the government of the Republic of India and the Government of Armenia Republic

Under the chairmanship of Narendra Modi, the Union Cabinet has given its approval for signing and agreement on the agreement between the Government of the Republic of India and Government of Armenia on cooperation and mutual assistance in customs matters.
●    The national legal requirements required for this agreement have been fulfilled.
●    This agreement can help in the prevention, combat and investigation of information related to exchange of information and intelligence between customs authorities and customs duty and facilitate legal business.
●    This proposed agreement will facilitate a legal framework for exchange of information and intelligence between the two customs authorities of the two countries.
●    The text of this draft format has been finalized with the consent of both the Customs administrations.
●    In the format of the agreement, attention has been paid to the concerns and expectations of Indian Customs, especially the declared value of customs duty and the authenticity of the original certificates of exchange of goods between the two countries.
 

Current Affairs 1st November 2017: SCHEME

Cabinet approves the continuation of the current central sponsored scheme National Agricultural Development Scheme

Cabinet Committee on Economic Affairs has approved the centrally sponsored Rashtriya Krishi Vikas Yojana (RKVY) as RKVY-speed for three years i.e. 2017-18 to 2019-20.


●    The financial allocation will be Rs. 15, 722 crores on this plan, which aims at strengthening the efforts of the farmer, through reducing risk, making the work of agriculture economically viable and promoting agricultural business entrepreneurship.
●    RKVY-RAFTAAR funds will be made available to states in the form of grants in the ratio of 60:40 between the Center and the States through the following medium.
●    Regular RKVY-RAFTAAR, including 70 percent of the annual outlay to be allocated to the states as a grant for the following activities.
●    Basic amenities and assets with 50 percent of regular RKVY-RAFTAAR outlay.
●    Production projects related to value addition with 30% of regular RKVY-RAFTAAR.

Current Affairs 1st November 2017: DAYS AND DATES

Army Aviation Corps celebrated 32rd Foundation Day

Army Aviation Corps celebrated its 32nd Raising Day on November 01, 2017.

●    A wreath-laying ceremony was organized on Amar Jawan Jyoti of India Gate on this occasion.
●    Lt Gen Kanwal Kumar, Director General, Colonel Commandant and Army Aviation Corps wreaths.
●    Apart from this, officials and military personnel also wore wreaths.
●    Army Aviation Corps, the Indian Army's Aerial Menu twer, has provided vital aviation assistance to our troops on the border.
●    At the time of National Disaster, it has also played an important role in helping the common citizens.

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Important Current Affairs 31st October2017

Important Current Affairs 31st October 2017

Current Affairs 31st October 2017: NATIONAL NEWS

Prime Minister launches "Run for Unity"

President Ramnath Kovind, Vice President Venkaiah Naidu and Prime Minister Narendra Modi presented a wreath on the statue of Sardar Patel at Patel Chowk in New Delhi on the birth anniversary of Sardar Vallabh Bhai Patel.
●    After this, the Prime Minister flagged off "Run for Unity" from Major Dhyan Chand National Stadium.
●    Narendra Modi remembered his contributions in the contribution of Sardar Vallabhbhai Patel, in particular the unity of the country.
●    The Prime Minister said that the youth of India respects Sardar Patel and his contribution in the creation of our nation.
●    India is proud of its diversity and opportunities like "Run for Unity" give us the opportunity to reinforce the feeling of pride and unity.
●    Prime Minister also administers oath to the participants.


Dharmendra Pradhan will attend 7th Asia Ministers Level Energy Round Table Conference
Central Petroleum and Natural Gas and Skill Development and Entrepreneurship Minister Dharmendra Pradhan will visit Bangkok on 01 and 02 November 2017 in Thailand, where he will participate in the 7th Asia Ministers Level Energy Round Table Conference (AMER 7) of IEF.
●    India is currently the President of the International Energy Forum.
●    It is also the organizer of this conference.
●    Or the conference takes place at a gap of two years.
●    The energy ministers and experts from Asian countries participate in this conference.
●    In this conference, the Minister will be attending the Ministerial Round Table Conference.
●    They will talk about 'entering the golden age of gas while facing the challenge of natural gas markets and policies'.
●    The energy minister of Qatar and Brunei and the senior representatives of Japan's Economy, Trade and Industry, ASEAN and East Asia (ERIA) will also talk about this.
●    Energy Minister of Saudi Arabia, Russia, UAE, Thailand, Iraq, Kuwait, Qatar, Bangladesh,

Malaysia and Brunei are also attending the conference.

Vice Admiral Karambir Singh became the Flag Officer Commanding-in-Chief of Eastern Naval Command


Vice Admiral Karambir Singh, AVSM took the responsibility of the Flag Officer Commanding-in-Chief of the Eastern Naval Command on October 31, 2017.
●    He was given a salute at the Naval base in New Delhi today.
●    He inspected the platoons of naval personnel in ships and establishments of Eastern Naval Command.
●    Vice Admiral HCS Bisht retired after 40 years of service.
●    Indian Navy Organized 'Pulling Out' in their farewell program.
●    Karambir Singh joined the Navy in July 1980
●    He was trained with the National Defense Academy Khadakwasla.
●    In 1982, he became a helicopter pilot.
●    Admiral Karambir Singh also received the Extreme Service Medal from the President.

Meeting of Consultative Committee of Ministry of Power

A meeting of the Consultative Committee attached to the Ministry of Power, New and Renewable Energy was held today in Guwahati.
●    This meeting was chaired by the Union Minister of State for Power, New and Renewable Energy (Independent Charge), Shri R.K. Singh
●    The committee reviewed the functioning of NHPC Limited and Solar Rooftop and Solar Pump Program.
●    Singh said that we need clean energy for economic development.
●    Singh said that the hydroelectric power plants are sustainable, which provides electricity for long periods of time.
●    Therefore, there is a need to encourage hydroelectric projects.
●    The meeting of the Consultative Committee began with a presentation on NHPC Ltd by its Chairman and Managing Director Shri Balram Joshi.


SEBI suspends Eminence Infra directors

Sebi has banned Eminence Infra projects and its five directors of Kolkata for at least four years.
●    Apart from this, it has been instructed to return the amount raised without acknowledging the public issue rules.
●    SEBI said in the order of October 30 that these directors will not be able to relate to any listed company for four years from the date of order.
●    All these directors can not return before returning their money.
●    Restricted directors are Somnath Banerjee, Apu Halder, Supriya Roy, Tarun Kumar Das and Kaushik Mukherjee.
●    SEBI found in its investigation that the company had raised Rs 39 lakh during 2010-11, 2011-12 and 2012-12.
●    Since these shares were issued to more than 50 people, in this case it becomes a public issue .
●    The company had to list it on a recognized exchange.
●    The company did not follow this rule.


K.J. Alfons Launches Student Science Manthan Mobile App

In order to encourage the study of science, technology and mathematics in school students, on November 26, the science talent search examination - Student Science Manthan - will be organized across the country.
●    This program is being organized by scientists and experts related to science dissemination.
●    Science dissemination, science and technology department are An autonomous organization under NCERT and Vision Bharti.
●    Union Minister of Electronics and Information Technology and Tourism Shri K.J. Alfons today launched a Mobile App (VVM) in the National Capital.
●    On this occasion, he said that for the better future, the student science manthan will provide a platform for the young generation of India to study science and technology.
●    He said that today's students should study digital technology and science
●    Vision Bharati, Secretary General of the Department, Mr. Jai Kumar informed about various dimensions of VVM and urged the students to practice this examination on their mobile.

Current Affairs 31st October 2017: REPORTS AND RANKING

 India's ranking in ease of doing business improved

In a report released by the World Bank on Tuesday, India has made a big leap in the ease of doing business .
●    With 30-point jump, India has now reached number 100.
●    Finance Minister Arun Jaitley did a press conference and informed about it.
●    He said that the World Bank has appreciated India's performance.
●    He said that India is one of the top 10 countries to improve.
●    He said that in terms of security of small shareholders, India has reached the fourth place.
●    In terms of providing credits for business, India is ranked 29th.
●    In terms of giving electricity connections for businesses, India's ranking is 29th.
●    While India's ranking in tax fare is 119,
●    India was ranked 172 in paying taxes, but now India has made a jump of 53 points.
●    In terms of settling insolvency, India reached number 103.

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Important Current Affairs 30th October 2017

Important Current Affairs 30th October 2017

Current Affairs 30th October 2017: NATIONAL NEWS


Vice Admiral Ajit Kumar P, AVSM VSM assumes charge as the Vice Chief of Naval Staff (VCNS) 

Vice Admiral Ajit Kumar P, AVSM, VSM has assumed charge as the Vice Chief of Naval Staff from Vice Admiral Karambir Singh AVSM at a formal ceremony held this morning at South Block, New Delhi. 
●    Vice Admiral Karambir Singh proceeds to Visakhapatnam and is scheduled to take over as Flag Officer Commanding-in-Chief Eastern Naval Command on 31 Oct 17.
●    Vice Admiral Ajit Kumar P, AVSM, VSM is an alumni of the National Defence Academy. 
●    The Flag Officer was commissioned in the Indian Navy on 01 Jul 81 and is a specialist in Missiles & Gunnery. 
●    The Flag Officer has had extensive operational tenures onboard frontline warships of the Indian Navy. 
●    He has had the distinction of having commanded six seagoing platforms which include the guided missile corvette Kulish (commissioning), the guided missile frigate Talwar, the guided missile destroyers Mumbai and Mysore. 
●    The officer has done the Naval Higher Command Course and is also an alumni of the Naval War College, Newport, Rhode Island, USA.

The Government of India and World Bank sign $200 Million Loan Agreement for the Assam Agribusiness and Rural Transformation Project

The Government of India and the World Bank today signed a $200 million Loan Agreement for the Assam Agribusiness and Rural Transformation Project. 
●    The Project will support the Government of Assam to facilitate agri-business investments, increase agriculture productivity and market access, and enable small farm holders produce crops that are resilient to recurrent floods or droughts in the state. 
●    After the Agreement, Mr Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance said that Assam is simplifying several regulatory procedures related to doing business, agricultural marketing, and fisheries amongst others. 
●    He said that the project will help the State increase agricultural productivity by strengthening the farming systems, raise private sector investments to promote agri-enterprises which will create better job opportunities for the youth in the State. 
●    The Project will be implemented in over 16 Districts of Assam. 
●    Over 500,000 farming households will directly benefit from the Project. 
●    At least 30 percent women are expected to participate in project activities. 
●    Specific focus will be given to women-led enterprises and their participation in the decision-making process of farmer producer organizations. 

Government approved Rs.25,000 crores package for Police Modernization

The Union Home Minister Shri Rajnath Singh today asked the young police officers to brace themselves up for terrorist threats emerging from the cyber world. 
●    Addressing the Passing Out Parade of IPS Probationers at the Sardar Vallabhbhai Patel National Police Academy (SVPNPA) in Hyderabad, Shri Rajnath Singh said the world is today grappling with the menace of terrorism and extremism; internet is being used by organisations like the ISIS to spread hate. 
●    We are not untouched by this menace, he added. 
●    The Union Home Minister, however, expressed satisfaction, saying our Intelligence and Security Agencies have been successful in countering these sinister designs. 
●    Central Government is all committed to strengthen the security structure of the country. 
●    He said we know that State Police Forces need Central Government help to tackle the present problems and all that might arise in future. 
●    We need to work towards Modernisation of Police Forces. 
●    Keeping this in mind our Government last month approved a Rs.25,000 crores package for Police Modernization, he added. 


MHA gives a boost to “Make in India” in the field of manufacturing of arms 

The Ministry of Home Affairs has liberalised the Arms Rules to boost “Make in India” manufacturing policy of the Government as also to promote employment generation in the field of manufacturing of arms and ammunition.
●    The liberalisation of the Arms Rules will encourage investment in the manufacturing of arms and ammunition and weapon systems as part of the “Make in India” programme. 
●    The liberalised rules are expected to encourage the manufacturing activity and facilitate availability of world class weapons to meet the requirement of Armed Forces and Police Forces in sync with country’s defence indigenization programme. 
●    The salient features of the liberalised rules are:
●    The licence granted for manufacturing shall not be valid for the lifetime of the licensee company. 
●    The requirement of renewal of the license after every 5 years has been done away with.
●    Similarly, condition that the small arms and light weapons produced by manufacturer shall be sold to the Central Government or the State Governments with the prior approval of the Ministry of Home Affairs has been done away with.


Shri Giriraj Singh launches MSME Delayed Payment Portal – MSME Samadhaan 

Union Minister of State (Independent Charge) Shri Giriraj Singh launched MSME Delayed Payment Portal – MSME Samadhaan here today, empowering micro and small entrepreneurs across the country to directly register their cases relating to delayed payments by Central Ministries/Departments/CPSEs/State Governments. 
●    Shri Arun Kumar Panda, Secretary, Ministry of MSME along with other dignitaries and senior officials from the Ministry were also present.
●    Speaking on the occasion, Shri Giriraj Singh said that the Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 contains provisions to deal with cases of delayed payment to Micro and Small Enterprises (MSEs). 
●    As per the provisions, the buyer is liable to pay compound interest with monthly rests to the supplier on the amount at three times of the bank rate notified by Reserve Bank in case he does not make payment to the supplier for the supplies of goods or services within 45 days of the day of acceptance of the goods/service or the deemed day of acceptance.
●    The Portal will give information about the pending payment of MSEs with individual CPSEs / Central Ministries, State Governments, etc. 
●    The CEO of PSEs and the Secretary of the Ministries concerned will also be able to monitor the cases of delayed payment under their jurisdiction and issue necessary instructions to resolve the issues. 
●    The portal will greatly facilitate the monitoring of the delayed payment in a more effective manner. 


8th National Painting Competition on Water Conservation and Pollution for school children 

Central Ground Water Board under Ministry of Water Resources, River Development and Ganga Rejuvenation will be organizing 8th National Painting Competition on Water Conservation and Pollution for school students of 6th, 7th and 8th Standards. 
●    Theme for this year’s painting competition is, “Use water with more care-save our future generation”.
●    School Principals have been requested to organise Painting competition of two hrs. duration for 6th, 7th and 8th standards students in their schools on above mentioned theme preferably on A-4 size paper. 
●    The school principals would select three best paintings and send to the nodal officer so as to reach him along with the list of total number of participants not later than December 15, 2017. 
●    Students who have won first, second and third prize in earlier competitions are not eligible for participation. 
●    The consolation prize winners may participate but they would be considered for 1st, 2nd and 3rd prize only at the State level Painting competition. 
●    Best 50 painting will be selected out of paintings received from School level competition by a board of Jury of State level Painting Competition to be held in January, 2018. 

The Vice President of India awards Ministry of Railways for creation of an IT enabled organization wide infrastructure in Railway tendering and contractual matters. 

The Vice-President of India, Shri M. Venkaiah Naidu awarded Ministry of Railways, for outstanding contribution in IT initiative for Transparency in the organization, for creation of an IT enabled organization wide infrastructure in railway tendering and contractual matters to enhance transparency and clarity in processes, today at Vigyan Bhavan. 
●    Minister of State for Development of North Eastern Region (I/C), Prime Minister’s Office, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh, Cabinet Secretary, Shri P K Sinha, Chief Vigilance Commissioner, Shri K V Chowdary, and other dignitaries were present on the occasion. 
●    The award was received by Shri Rajaram Prasad,(GM/MMIS/CRIS), who has been the prime mover behind the effort.
●    This award programme at Vigyan Bhawan was organised by Central Vigilance Commission as a part of Inaugural function of Vigilance Awareness Week-2017.
●    As a result of this IT initiative, Railways has been able to achieve 100% e-tendering for procurement and 100% e-auction for disposal of scrap in a secure, transparent and easy manner, with information and status accessibility to all the stakeholders at the click of a button. 
●    This has substantially mitigated the risk of corruption involved in these areas, simultaneously providing the environment of Transparency, Ease of doing business and Fair Business Practice.
●    Indian Railways’ e-procurement portal (IREPS) is the largest e-procurement platform in India handling almost 2/3rd of the total Government tenders. 


Current Affairs 30th October 2017: INTERNATIONAL RELATIONS
 

Exercise Indra-2017 Concluded in Vladivostok 

The Indo-Russian military Exercise 'Indra-2017' culminated today at Vladivostok after eleven days of joint training in counter-terrorism operations. 
●    After intense and exacting military training, the joint exercise concluded with a closing ceremony, wherein both the contingents showcased their immense talents with unique traditional touches. 
●    The grand closing ceremony at Vladivostok which comprised of personnel of both contingents was witnessed by senior officials and dignitaries of both countries including His Excellency Ambassador of India to the Russian Federation Shri Pankaj Saran. 
●    Personnel from the Indian as well as Russian contingents were awarded medals of excellence for their outstanding performance during the exercise. 
●    Fighters and Helicopters co-piloted by Indian and Russian pilots took part in the flypast along with an IAF IL-76 aircraft. 
●    In the joint tactical exercise which began on 19 October 2017, the two countries conducted training focused on combating terrorism. 

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Important Current Affairs 29th October 2017

Important Current Affairs 29th October 2017

Current Affairs 29th October 2017: NATIONAL NEWS


Railways to invest $150 billion

The Railways is looking to invest over $150 billion over the next five years which would help create one million additional jobs, minister Piyush Goyal has said.
●    Goyal, who took over as the rail minister after a Cabinet reshuffle in August, said he was trying to give the national transporter a "new direction".
●    "During the next five years, the Railways alone will be looking at an investment of upwards of $150 billion. 
●    And when I translate that into jobs, I see a million jobs being created only through investments in the railway sector," he said.
●    The Railways can play an important role in "aggressively pursuing" government agenda to provide safe, secure, comfortable travel, he said addressing an awards function organised by the business daily Economic Times late last night.
●    A focus on infrastructure could also help increase local manufacturing, he said.
●    Goyal said his ministry was also compressing the time taken for complete electrification of rail lines to four years from the earlier plan of 10 years, which would help cut costs by around 30 per cent for the loss-making Railways.
●    This electrification initiative would help save the national transporter around Rs 10,000 crore per annum on fuel bill, he said.
●    Earlier this month, Goyal had said the Railways would create one million jobs within the next 12 months.
●    In 2015, his predecessor Suresh Prabhu had said the Railways needed investments of Rs 8.5 trillion over the next five years, and invited overseas investors for the same.
●    Prabhu had also secured a debt funding worth Rs 1.5 trillion from Life Insurance Corporation to fund various projects.
●    It is not clear whether Goyal's $150 billion is part of Prabhu's Rs 8.5 trillion investments.


Air Deccan, Air Odisha to get 10 slots at Delhi airport


Air Deccan and Air Odisha will get a total of 10 slots at the Delhi airport for their flights under the regional connectivity scheme, according to officials. 
●    Both airlines bagged a significant number of routes in the first round of bidding under the ambitious RCS, which seeks to connect unserved and underserved airports.
●    Together, Air Deccan and Air Odisha were looking for 16 slots for their proposed RCS flights from the airport here. 
●    After extensive stakeholder discussions, DIAL has agreed to provide a total of 10 slots to the two airlines.
●    When contacted, a DIAL spokesperson said, “DIAL has agreed to 10 slots for Air Deccan and Air Odisha under the regional connectivity scheme.” 
●    One of the officials said Air Deccan and Air Odisha would get six and four slots, respectively. 
●    Air Deccan was seeking 10 slots while Air Odisha’s requirement was for six. 
●    Since the number of slots being offered is less than required, both airlines would have to reduce the number of flights they plan to operate from the national capital, the official added.
●    Each airline would get one night parking slot. 


Essar Group, Tatas, ArcelorMittal eye Essar Steel

Top global players including Tata Steel, Essar Group and ArcelorMittal are learnt to have submitted bids to acquire debt-laden Essar Steel which is going through the insolvency resolution process.
●    Essar Steel India Ltd, an integrated steel producer with an installed capacity of 10 million tonne per annum (MTPA) is undergoing Corporate Insolvency Resolution Process (CIRP) under the provisions of Insolvency and Bankruptcy Code.
●    The expression of interest (EoI) for the company was invited by October 23.
●    "Essar Group has submitted EoI for Essar Steel. 
●    A resolution plan will be submitted to IRP within the scheduled time frame," an Essar Group Spokesperson said.
●    Asked about the rationale for bidding, the spokesperson said IBC allows promoters to bid for their company at the NCLT and there are no limitations.
●    He added that the entire process is on purely commercial basis and the final selection is done based on the highest bid offered for the NCLT company.
●    "This practice of promoters being permitted to bid in bankruptcy/insolvency cases is prevalent in the US, UK and many developed and developing countries," the spokesperson said.


Govt. has asked coal India to enhance its production


Keeping in mind the strong demand of coal, Central government company coal India Ltd CIL has decided to increase the coal production.
●    coal distribution of 16 million tons per day is going to be increased to 20 million tons per day. 
●    The government has given this directive to Coal India at a time when power plants in the country are battling coal crisis.
●    Coal Secretary Sushil Kumar said, "The demand for coal is strong ... we have asked Coal to produce and distribute 2 million tonne of coal per day."
●    At present, Coal India distributes nearly 1.6 million tonnes of coal.
●    Therefore, Coal India has been targeted to produce and distribute 2 million tonne of coal per day.
●    Kumar has expressed confidence that in view of the monsoon, Coal India will be able to achieve the target.
●    He said that the power sector, which was done in the month of August, is 14.4 per cent higher than the corresponding month of last year, and in September it was 22 per cent more than the same period last year.


Telangana govt prepares draft policy on electric vehicles


The Telangana government has prepared a draft policy on electric vehicles which proposes benefits for manufacturers and to put in place the necessary support system towards embracing the new mode of transport.
●    The policy has three components -- for manufacturers, users and support mechanisms, an official said.
●    The second component in the draft policy is about the support for users who want to shift to electric vehicles from regular vehicles, Ranjan said.
●    "Suppose I am using a regular car. If I want to shift to an electric vehicle, what kind of support I will get," he said.
●    "The third component is about infrastructure. Because, to sustain electric vehicles, you require charging infrastructure. 
●    Who will build that charging infrastructure; if some private sector person is coming to build it up, what kind of support they will get. That will also be covered in the policy," the official said.
●    The draft policy has guidelines on facilitating the public transport to shift to the electric mode, Ranjan said.
●    "Finally, there will be something on public transport. What has been seen the world over is that moving a city into electric vehicle has to come from the leadership of the public transport providers," he said.


Niti Aayog to finalise National Energy Policy soon


Government think-tank Niti Aayog will soon finalise the National Energy Policy (NEP) and take it to the Union Cabinet, a top official said. 
●    The Aayog had released the draft National Energy Policy in June this year. 
●    “We will finalise the National Energy Policy in the next 10 days and will send it to the Cabinet,” the Niti Aayog official said.
●    In its draft report, the government think tank has said that India’s energy demand is likely to soar around three times by 2040, leading to increase in overall primary energy imports. 
●    It had also made a case for a single regulator to govern India’s energy market to make ‘India’s economy energy ready’ by the year 2040.
●    Another senior Niti Aayog official said the Aayog has finalised National Medical Commission Bill (NMC), 2016 and has sent it to the Cabinet.
●    Last year, a high-level committee, headed by the then Niti Aayog Vice-Chairman Arvind Panagariya, looked into the issue of poor regulation of medical education by Medical Council of India (MCI) and had proposed replacing MCI with NMC.

Centre approves Rs 40,000 crore for Army to directly buy weapons for ‘short and intense war’


Amid tension on borders with Pakistan and China, the Centre has allowed the Army to make ‘emergency procurements,’ without going through the red-tape, to be prepared for a ‘short and intense war’.
●    A notification issued by the government last week empowered Vice Chief of the Army to make hardware procurements up to Rs 40 thousand crore to meet critical deficiencies. 
●    Army has identified critical deficiencies in 46 types of ammunition and certain spares for 10 types of weapon platforms.
●    According to Defence Ministry sources, after the Uri attack, an internal audit was conducted to review Army’s preparedness.
●    Though the Special Forces carried out ‘surgical strikes’ 10 days later, the audit exposed several lapses in Army’s critical procurement in order to fight a ‘short and intense war’— that would last 15 days.

ONGC holds board meeting


State-owned Oil and Natural Gas Corp (ONGC) has become India’s first company to hold a meeting of its board of directors at high sea when its top officials assembled at an oil installation in the Arabian Sea to approve second quarter earnings.
●    ONGC’s new Chairman Shashi Shanker convened the company’s 299th board meeting at a platform on the Mumbai High field yesterday to approve the second quarter earnings among other things, officials said.
●    “The idea was to familiarise the independent directors, most of whom are new to the unique oil and gas exploration and production business, to offshore operations,” an official said.
●    ONGC produces more than 80 per cent of its oil and gas from offshore fields with Mumbai High, off the coast of Maharashtra, being the biggest.
●    The company is betting big on quickly putting to production untapped discoveries as well as rejuvenating ageing fields offshore to raise crude oil production by 4 million tonnes and almost double natural gas output by 2021-22 to meet Prime Minister Narendra Modi’s target of cutting India’s import dependence by 10 per cent.
●    The state-owned firm plans to raise crude oil production from 22.6 million tonnes in 2017-18 to 26.42 million tonnes in 2021-22. 

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Important Current Affairs 28th October 2017

Important Current Affairs 28th October 2017

Current Affairs 28th October 2017: NATIONAL NEWS

Revanth Reddy Quits Party in Telangana


The Telugu Desam Party (TDP) suffered a setback in Telangana on Saturday as the state working president and MLA, A Revanth Reddy, quit the party saying the recent happenings in the state unit pained him.
●    Revanth, who flew down to Vijayawada for a meeting with TDP supremo and Andhra Pradesh Chief Minister N Chandrababu Naidu, is understood to have handed over his resignation letter to Naidu's private secretary and immediately left for Hyderabad.
●    When asked about it, Chandrababu Naidu told reporters that he has not received Revanth resignation letter.
●    Revanth was arrested in the "cash-for-vote" case after he was caught on camera allegedly offering money to a nominated MLA for his vote in the MLC election in 2015.
●    For the past few days, there has been a turmoil in Telangana TDP with reports claiming that Revanth, who is an MLA from Kodangal in Mahbubnagar district, met Rahul Gandhi and was about to join the Congress.
●    Revanth also caused a stir by accusing some leaders of Andhra Pradesh TDP, including two ministers, of securing huge financial contracts from the TRS government in Telangana.

Centre plans to open AYUSH hospitals in every district in 10 years: Naik


The Centre is working on a plan to open AYUSH hospitals in every district of the country in the next 10 years, Union Minister Shripad Naik said on Saturday.
●    "Under AYUSH Mission, the work of setting up a 50 bedded hospital in each district of the country in next 10 years has begun," Naik, the Union Minister of State for Ayush, said.
●    He said that his ministry has cleared 66 proposals from different states and sanctioned funds for opening AYUSH hospitals.
●    Besides, the minister said, work of constructing 992 yoga wellness centres has begun.
●    Naik said under AYUSH Mission, Rs 1,117.34 crore has been given to states and union territories.
●    In his address, Bhagwat stressed that medical care was a necessity for humans and it should be easily accessible and cheap.
●    He said the western world medical care focuses on treatment of disease while traditional Indian medical science wants that people should stay healthy always. 

Current Affairs 28th October 2017: Persons

Jeff Bezos passes Bill Gates to become world’s richest person after Amazon soars


A post-earnings surge in Amazon.com Inc. shares on Friday pushed Jeff Bezos to the top of the Bloomberg Billionaires Index for the first time, vaulting him ahead of Bill Gates who had held the top spot as the richest person on Earth for more than four years.
●    The founder and chief executive officer of the retail juggernaut added $10.4 billion to his net worth as Amazon shares rose 13%, the most in 2 1/2 years, a day after the company reported quarterly sales and profit that surpassed analysts’ estimates. 
●    His wealth briefly eclipsed that of Gates, the Microsoft Corp. co-founder, on an intraday basis on 27 July, but Amazon shares ended that day lower, leaving Bezos at No. 2.
●    At the close of US markets on Friday, Bezos had a net worth of $93.8 billion, $5.1 billion ahead of Gates on the Bloomberg index, a daily ranking of the world’s 500 richest people. 
●    Gates, 61, had been the world’s richest person since 2013.
●    Bezos, 53, has added $28.5 billion to his fortune this year. 
●    Gates’s net worth has climbed by $6.3 billion since year-end, even after he donated $4.6 billion of Microsoft stock to the Bill & Melinda Gates Foundation in August.
 


 

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Important Current Affairs 27th October 2017

Current Affairs 27th October 2017: NATIONAL NEWS

President of India launches Technocity project in Thiruvananthapuram and lays foundation stone for the first government building in Technocity 

The President of India, Shri Ram Nath Kovind, launched the Technocity project in Thiruvananthapuram today (October 27, 2017) and laid the foundation stone for the first government building in Technocity.
●    Speaking on the occasion, the President said that Kerala’s strengths in basic literacy and skills – and the experience of Kerala’s people in the services sector and in consumer driven industries – make this state a natural for an IT ecosystem. 
●    He stated that IT is not just important in itself. It is a force multiplier for the entire services economy. 
●    It has played a game changing role in health-care, education, tourism and many other industries. 
●    These areas are Kerala’s strengths. 
●    He was confident that the development of Techno City will provide new opportunities for the young people of Kerala.
●    The President said that in many parts of the country, people from Kerala are an essential part of the economic landscape. 
●    And such achievements are by no means limited to India.  


First International Conference on Consumer Protection with the theme of “Empowering consumers in new markets” concludes in New Delhi 

The First International Consumer Protection Conference on “Empowering consumers in new markets” for the South, South East and East Asian Countries was held on 26 to 27 October 2017 in New Delhi. 
●    His Excellency Mr. Narendra Modi, Prime Minister of India inaugurated the Conference which was attended by 1600 participants that included delegates from 19 countries, Senior dignitaries from the Central Government, State Governments from India, Presidents of the Consumer Commissions,  as well as private sector, consumer associations and academia. 
●    Dr. Mukhisa Kituyi, Secretary-General of UNCTAD addressed the conference in the Inaugural session.
●    The Prime Minister during his inaugural speech stated that Consumer Protection is one of the priority areas for the Government.
●    Government’s vision is a step further from Consumer Protection to Consumer Empowerment and to Protection of Consumer Interests.
●    The Conference was chaired by Shri Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution. 

RM Releases Coffee Table Book on Department of Defence Production 

Raksha Mantri Smt Nirmala Sitharaman released a coffee table book on the Department of Defence Production (DDP), titled ‘A journey towards self-reliance’ here today.
●    The first ever coffee table book on the department, it chronicles the post-independence years of development, indigenisation and production of arms, ammunition and defence equipment, with a view to achieve self-reliance for the Armed Forces of India.
●    Smt Nirmala Sitharaman, in her message printed in the book says, “The coffee table book is a noteworthy initiative of DDP to compile success stories of projects of OFB/ DPSUs, transcending from the stage of inception to execution.
●    The contents of the book are a remarkable collection of past and current defence equipment produced in India. 
●    Avid readers will find themselves immersed in a world of illustrations and remarkable photographs, captured at ‘the’ moments, and revealing relevant texts, which will be of interest to the ‘defence technology-savvy’ Indians.
●    The book epitomises the visionary approach of the Government of India seeking to establish India as a global manufacturing hub, under the ‘Make in India’ initiative. 

Establishment of permanent campus of six new IITs at Tirupati, Palakkad, Goa, Dharwad, Jammu and Bhilai 

The Union Cabinet on 24th October 2017 approved a Rs. 7,002 crore plan for construction of permanent campuses for six new IITs, to be completed by 31st March 2020. 
●    Each campus will have facility for housing 1,200 students, beginning from the academic year 2020-2021.
●    Currently, these institutions are functioning from temporary campuses with a total strength of 1,530 students. 
●    After construction of the campuses, this strength will go up to 7,200.
●    The Hon’ble Finance Minister in his Budget Speech 2014-15 had announced establishment of five new IITs in Andhra Pradesh, Kerala, Jammu & Kashmir, Goa and Chhattisgarh. 
●    Further, in the Budget Speech 2015-16,establishment of an IIT in Karnataka was announced.
●    In pursuance to the Budget announcements, the academic sessions in IITs at Tirupati and Palakkad started in 2015-16 and in IITs at Dharwad, Bhilai, Jammu and Goa in 2016-17, from their respective temporary campuses.

Power Minister chairs the 4th Foundation Day celebrations of National Institute of Solar Energy, Gurugram 

Union Minister of State (IC) for Power and New & Renewable Energy, Shri Raj Kumar Singh, presided over the 4th Foundation Day celebrations of National Institute of Solar Energy (NISE), at its campus in Gurugram, Haryana today.
●    While addressing scientists, research staff and other guests during the event,Shri Singh said that NISE should aim to establish itself as the World’s leading institute in the field of solar energy through its world class R&D, Testing & Certification and Training and emerge as a ‘Centre of Excellence’.
●    NISE should strive further and set up regional centres for research and development in solar energy, Shri Singh added.
●    “There is no dearth of funds for R&D activities”, Shri Singh said, while complimenting the scientists on the number of innovative prototype projects developed at NISE. 
●    Further, the Minister said that NISE should work quickly and patent some of the products and encouraged scientists to work out strategies for public-private collaborations to reach end-users.
●    Shri Singh also launched the Automation System for Customer Service Cellfor Testing Facilities at NISE. 
●    He was presented with a set of four books on Solar Energy published by NISE.


Piyush Goyal inaugurates International Conference on Green Initiatives & Railway Electrification 

Minister of Railways & Coal Shri Piyush Goyal inaugurated International Conference on Green Initiatives & Railway Electrification organised by Ministry of Railways through Institution of Railways Electrical Engineer (IREE) India on 27th October 2017.
●    Minister of State for Railways & Minister of State for Communications (Independent Charge) Shri Manoj Sinha was specially present to grace the occasion. 
●    Member Traction Railway Board & Patron, IREE, Shri Ghanshyam Singh, other Railway Board Members, Additional Member Electrical, Railway Board & President, IREE Mr. V. K. Agarwal and senior officials were also present on the occasion.
●    Speaking on the occasion, Minister of Railways & Coal, Shri Piyush Goyal said, "Indian Railways is working with a renewed attitude and confidence. 
●    The mindset of Indian Railways has changed. Indian Railways is working with “will do/can do” spirit, for the Government, Development is a positive agenda. 
●    Indian Railways is working in a mission mode and coming up with solutions to the problems. 
●    Indian Railways is working with a commitment to serve in a time bound manner for the common people. 
●    For the common people, Railways is the preferred mode of transport. 
●    1.3 million Railwaymen have dedicated themselves to serve with commitment. 
            

The Union Finance Minister, Shri Arun Jaitley launches the mandatory use of Public Finance Management System (PFMS) for all Central Sector Schemes
The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley said that the mandatory use of Public Finance Management System (PFMS) for all the Central Sector Schemes of the Government of India would help in tracking and monitoring the flow of funds to the implementing agencies. 
●    Shri Jaitley further said that due to the monitoring of funds through PFMS, one can know the actual status of utilization of funds by the multiple implementing agencies of the Central and the State Governments. 
●    He said that the ultimate purpose of implementing any Scheme is to ensure that the benefits much reach to the last mile. 
●    The Finance Minister specifically mentioned about the implementation of various Schemes through Direct Benefit Transfer (DBT) mechanism in this regard. 
●    The Union Finance Minister Shri Arun Jaitley was addressing the senior Officers of the Finance and other Ministries after launching the mandatory use of the Public Finance Management System (PFMS) for all Central Sector Schemes in the national capital today. 
●    These Central Sector Schemes with a budgetary outlay of Rs.6, 66,644 crore covers over 31 percent of the total Central Government expenditure during the current financial year 2017-18. 

Current Affairs 27th October 2017: DAY AND DAYS

Observance of ‘Rashtriya Ekta Diwas’ on 31st October 

The Government observes 31st October all over the country as a day of special occasion, to foster and reinforce the Government’s dedication to preserve and strengthen unity, integrity and security of our nation, by celebrating it as Rashtriya Ekta Diwas to commemorate the birth anniversary of Sardar Vallabhbhai Patel, one of the founding fathers of the Republic of India.
●    In the National Capital Territory of Delhi, celebrations on the occasion of Rashtriya Ekta Diwas between 7 a.m. and 8 a.m. include offering Floral Tribute to Sardar Patel at Patel Chowk by the Prime Minister Shri Narendra Modi, followed by administering Pledge and flagging off the Run for Unity.
●    ‘Run’ will take place from National Stadium - C-Hexagon – Shah Jahan Road Radial – India Gate (1.5 km). 
●    A large gathering is expected to participate in the Run. 
●    Ms. P.V. Sindhu (Badminton), Ms. Mitali Raj (Cricket) and Shri Sardar Singh (Hockey) are likely to participate. 
●    The Run will be organized by experienced Coaches from Sports Authority of India. Ministries/ Departments involved in organizing the programme include Ministry of Home Affairs, Ministry of Housing & Urban Affairs, Department of Sports, Department of Youth Affairs, Ministry of Railways, Ministry of Information & Broadcasting and GNCTD and Organizations involved include CPWD, NDMC, DDA, SAI, CAPFs and Delhi Police.
●    All States/UTs will organize State-level functions at respective capitals and the Ministry of Youth Affairs and Sports is coordinating with the local administration to organize functions in 623 districts while the Ministry of Human Resource Development is organizing functions in the Kendriya and Navodaya Vidyalayas. 

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Important Current Affairs 26th October 2017

Important Current Affairs 26th October 2017

Current Affairs 26th October 2017: NATIONAL NEWS

Vigilance Awareness Week to be observed from 30th October to 4th November, 2017 with theme “My Vision-Corruption Free India” 

The Central Vigilance Commission (CVC) has decided that this year the Vigilance Awareness Week would be observed from 30th October to 4th November, 2017. 
●    The theme of the week would be “My Vision-Corruption Free India”. 
●    The Vice President of India Shri M. Venkaiah Naidu will be the Chief Guest at the Inaugural Function to be held on 30th October 2017.
●    The observance of the Vigilance Awareness Week would commence with the Integrity Pledge by public servants in the Ministries/Departments/Central Public Sector Enterprises (CPSEs)/Public Sector Banks (PSBs) and all other Organisations on 30th October, 2017 at 11.00 a.m.
●    While addressing a press conference here today, the Central Vigilance Commissioner, Shri K.V. Chowdary said that the purpose of observing Vigilance Awareness Week is to educate the public at large about the corruption related practices and also educating them how to report about it.  
●    He said that it acts like a mass movement of involving people in saying no to corruption. 
●    Shri Chowdary said that to give recognition to the reforms and good work done by organization in the field of punitive, preventive and participative vigilance, the Vigilance Excellence Awards have been instituted in two categories from this year onwards. 
●    He also said that the Commission is developing an Integrity Index based on benchmarking of internal processes and controls within an organization as well as management of relationships and expectations of external stakeholders. 


Seven shortlisted companies given ‘Letters of Intent’ for 14 monuments under ‘Adopt a Heritage Scheme’ of M/O Tourism 

Seven shortlisted companies were given ‘Letters of Intent’ for fourteen monuments under ‘Adopt a Heritage Scheme’ of Ministry of Tourism at the closing ceremony of ‘Paryatan Parv’ at Rajpath Lawns, New Delhi yesterday. 
●    These companies will be the future ‘Monument Mitras’ who would associate pride with their CSR activities. 
●    The Inter-Ministerial Oversight and Vision Committee members appreciated the positive response received from reputed organisations in the Initial phase, wherein Fifty Seven (57) responses have been recorded and fourteen (14) monuments have been opted through seven (7) Expression Of Interest(s). 
●    After detailed scrutiny, the following companies ranging from hospitality industry, travel industry and banking industry were shortlisted for vision bidding for final selection of Monument Mitras:
●    SBI Foundation shortlisted for the adoption of -Jantar Mantar, Delhi.
●    TK International Limited shortlisted for the adoption of -Sun Temple, Konark, Raja Rani Temple, Bhubaneswar, Ratnagiri Monuments, Jajpur, Odisha
●    Yatra Online Pvt. Limited shortlisted for the adoption of:Hampi, Karnataka, Leh Palace, Jammu & Kashmir, Qutub Minar, Delhi, Ajanta Caves, Maharashtra


Raksha Mantri Smt. Nirmala Sitharaman, Addresses Naval Commanders’ Conference 

Hon’ble Raksha Mantri Shrimati Nirmala Sitharaman addressed the Naval Leadership this morning during the ongoing Naval Commanders’ Conference (24-27 Oct 17) being held at New Delhi. 
●    This is the second edition of this year’s bi-annual Naval Commanders’ Conference.
●    At the very outset, the Hon’ble Raksha Mantri complimented all personnel of the Indian Navy for securing the maritime interests of the nation. 
●    Taking note of the recent developments in our maritime neighbourhood, she emphasised the need for the Indian Navy to be strong at sea, and be ever ready and vigilant to counter any challenges in the maritime domain.
●    The Hon’ble Raksha Mantri acknowledged the high operational tempo maintained by the Navy in the last one year through regular deployment of ships, submarines and aircraft from the South China Sea and Sea of Japan in the East to the Persian Gulf and the Atlantic Ocean in the West and the shores of Australia in the South including the focused efforts to deter piracy attempts off the Gulf of Aden.
●    Participation in a number of bilateral exercises and the unprecedented success of the Exercise MALABAR with the US and the Japanese Navy earlier this year were lauded by the Raksha Mantri.
●    Recognising the lead taken by Indian Navy in indigenisation and self-reliance, the Hon’ble Raksha Mantri stated that it is the collective responsibility of Service Headquarters, the Ministry and the Industry to promote a more vibrant ecosystem percolating down to the MSMEs, to encourage development of equipment and systems in India and to reduce import dependence in the Defence sector.

Power Minister addresses the 3rd Global Investors’ India Forum 

Union Minister of State (IC) for Power and New & Renewable Energy, Shri R. K. Singh addressed the 3rd Global Investors’ India Forum, here today. 
●    The theme of the event was ‘Ideate, Innovate, Implement and Invest in India’ and it was attended by global industry stalwarts.
●    Addressing the august gathering, Shri Singh said that looking at the future of growing power consumption in India, it is expected that the per capita energy consumption would expand at a breakneck speed, tripling in the next 5-7 years. 
●    The Minister assured the members of Industry that the Government would extend all possible support and remove all impediments in the path of investments in the power sector. 
●    “Electricity is the future of economic growth in India. 
●    This growth cannot take place without Industry participation. 
●    I invite you to come and invest in India’s Energy sector”, Shri Singh said.
●    Shri Singh also informed the gathering that in the near future, to keep pace with this rapid change in the Renewable Energy Sector, Industry needs to partner with the Government in investing in Green Energy Corridors, Battery Storage Technology, Grid Improvement, Electric Vehicles Programme etc. 
●    The Minister invited the Industry stalwarts to devise the future strategy to achieve the above goal, in coordination with the Government.


TCIL Pays Dividend for the Year 2016-17

Shri A. Seshagiri Rao, Chairman & Managing Director, Telecommunications Consultants India Ltd. (TCIL) presented a dividend cheque of Rs. 70.82 Million to Hon’ble Shri Manoj Sinha, Minister of State for Communications (I/c)  in presence of Secretary, Telecom.
●    TCIL has paid dividend of Rs. 1929.87 Million to Govt. till 2016-17 on Government’s initial investment in equity of Rs. 3 Million. Rs.160 Million was further infused during 2015-16. 
●    The group and standalone networth of the company are Rs. 23977 Million and Rs.5889 Million respectively as on 31st March, 2017.
●    In 2016-17, TCIL achieved standalone revenue and profit after tax of Rs.12051.10 Million and Rs.708.22 Million respectively.
●    TCIL established in August, 1978, is a Mini Ratna Category – I Status Company under the Ministry of Communications, Department of Telecommunications. Government of India holds 100% of its share capital. 
●    TCIL is a prime engineering and consultancy company. 
●    TCIL undertakes projects in all field of Telecommunications, IT and Civil construction in India and abroad. TCIL has executed projects in over 70 countries across globe.
●    TCIL successfully executed Govt. of India PAN AFRICA e-NETWORK PROJECT for healthcare and educational services in 48 African Union countries, in collaboration with Indian Universities and Super Speciality Hospitals. 
●    It is a single largest project of its kind which has brought the African countries under one umbrella for collaboration and development with India.
●    Overseas operations of the Company are in Kuwait, Kingdom of Saudi Arabia, Oman, UAE, Mauritius, Myanmar, Nepal etc. in addition to Pan African e-Network project operating in 48 African countries. 

Trai recommendations on data privacy by January


Telecom regulator Trai will come out with its recommendations on guidelines for data privacy, security and ownership by January and is very close to finalising suggestions for the controversial net neutrality, a top official said today.
●    "Currently, there is a huge amount of monopoly and that monopoly is becoming bigger and bigger. We are saying you can use my data because we are using your application, but give us too so that we can use it for other purposes too... This should be finalised by December-January," Trai Chairman R S Sharma said in response to a specific question on timeline for issuance of the recommendations.
●    Sharma, who was speaking at a Ficci event today, made a pitch for larger privacy laws in the country, saying the regulators recommendations may be sent to the Justice Srikrishna Committee set up by the Centre and tasked with suggesting a data privacy framework.
●    Sharma let out that many consultation papers, including those of net neutrality, are at the final stage and the recommendations will be issued very soon.
●    The Trai chief observed that the clarity on data ownership and privacy will help many start-ups in developing new applications, which at present are unable to do so because of monopoly on controlling data of consumers.


Crisil launches inventability index

Crisil announced the launch of Crisil InfinayX.
●    It is India's first investment index, which will monitor and evaluate the development, maturity and investment related attractions of the basic structure areas.
●    Simultaneously, Crisil also unveiled the Infrastructure Yearbook 2017.
●    According to Crisil Infrastructure Yearbook 2017, the government has made considerable progress in the last several years in terms of investment in infrastructure.
●    However, only public investment in this area is not enough. Private sector investment must also be encouraged.
●    According to Ashish Suyash, Managing Director and CEO of Crisil Limited, "Investments in the infrastructure sector of India will be estimated to be around Rs 3,000 crore per day and 56 per cent, or more than Rs 37 lakh crore, from the financial year 2013 to the fiscal year 2017.
●    Looking at this context, Crisil felt the need for a composite investability index to monitor all the nuances of the basic structure sector. 
●    This will prove to be very valuable.


SEBI amended rules for bulk deal of shares

Market regulator Securities and Exchange Board SEBI has revised the outline of the sale of shares in the wholesale deal.
●    It has raised the limit of minimum orders to 10 crore rupees.
●    Also, 15-15 minutes of two different trading facilities have been provided.
●    SEBI has taken steps to ensure the confidentiality of big deals and to keep prices stable in such deals.
●    The bulk deal facility has been started in the wake of buyers and sellers for a large number of shares.
●    Talk about such deals is usually done beforehand.
●    Under the new rules, SEBI will provide bulk deals for 15-15 minutes in the morning and afternoon.
●    In addition, the regulator has increased the minimum order for the transaction under this facility to Rs 10 crore.
●    At present, this facility is available for a single transaction of Rs 5 crore only.
●    The morning convenience will be from 8:45 to 9 pm and noon will be from 02:05 to 02:20.

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Important Current Affairs 25th October 2017

Important Current Affairs 25th October 2017

Current Affairs 25th October 2017: NATIONAL NEWS

President of India addresses members of Karnataka Legislature on 60th anniversary of Vidhana Soudha 


The President of India, Shri Ram NathKovind, graced the ‘Vajramahothsava’ – Diamond Jubilee Celebrations on completion of 60 years of VidhanaSoudha, and addressed the members of both Houses of the Karnataka Legislature at Bengaluru, today (October 25, 2017). 
●    Speaking on the occasion, the President said that it is not just the 60th birthday of this building (VidhanaSoudha) that we are marking. 
●    This is also the diamond jubilee of the debates and discussions in the two Houses, of legislations that have been passed and policies that have been shaped for the betterment of the lives of the people of Karnataka. 
●    Both Houses of the Legislature jointly and collectively represent the will and aspirations of the people of Karnataka. 
●    Not just that, the two Houses also represent the ideals and optimism and the energy and dynamism of the Kannadiga people. 
●    This building is a monument to the history of public service in Karnataka. 
●    A galaxy of political stalwarts has participated in the proceedings of the two Houses that meet here. 

CVC to develop Integrity Index of 25 Organizations 

In line with the broader strategy and emphasis on preventive vigilance, the Central Vigilance Commission (CVC) believes that the next level of systemic change can be through the tool of Integrity Index. 
●    The CVC has therefore decided to go in for development of the Integrity Index-based on benchmarking of internal processes and controls within an organisation as well as management of relationships and expectations of outside stakeholders.
●    The Integrity Index will bring out annual scores/rankings of Public Sector Undertakings/Public Sector Banks and Financial Institutions/Departments/Ministries of Government of India by linking the essential drivers of vigilance with long term efficiency, profitability and sustainability of public organizations and create an internal and external ecosystem that promotes working with Integrity in public organizations.
●    CVC has adopted a research-based approach for creating an integrity index that various organizations can use to measure themselves and which will evolve with changing needs and with this view IIM-Ahmedabad has been engaged to develop the Integrity Index. 
●    Being a new initiative, initially 25 organizations have been selected for development of the Integrity Index (as per list attached). 
●    Subsequently, it is proposed to extend the Integrity Index concept to all other CPSUs and organizations of Government of India. 
●    The management of all 25 organizations have been involved in the development of Integrity Index.


Bills on MLA disqualification, power distribution passed in Rajasthan assembly


The House passed 'Rajasthan Legislative Assembly Members (Prevention of Disqualification) Bill-2017’ and 'The Rajasthan State Electricity Distribution Management Responsibility (Amendment) Bill-2017’.
●    The Rajasthan Backward Classes (Reservation of Seats in Educational Institutes in the State and of Appointments and Posts in Services Under the State) Bill-2017’ was tabled in the House by the Social Justice and Empowerment Minister Arun Chaturvedi, whereas the 'CrPC (Rajasthan Amendment) Bill-2017’ was referred to the select committee of the House.
●    The CrPC (Rajasthan Amendment) Bill-2017 Bill, which was introduced in the house on Monday, was proposed to be taken up for discussion tomorrow.
●    This bill was introduced on Monday along with the controversial Criminal Laws (Rajasthan Amendment) Bill 2017, which seeks to protect judges and bureaucrats from probe without the state government's prior sanction.


Reliance Communications To Shut Down 2G Mobile Business In A Month


Debt-ridden Reliance Communications plans to shut down its 2G mobile business in about a month and continue to operate 3G and 4G services till the time they remain profitable, industry sources said. 
●    RCom Executive Director Gurdeep Singh is learnt to have informed employees that the company has reached a "situation where we need to call it a day on our wireless business" and this would lead to closure of "wireless business 30 days from now".
●    The company will "continue to operate ILD voice, consumer's voice and 4G dongle postpaid services" and mobile tower business till the time they remain profitable and all the other business will be shut down, he has said. 
●    A email query sent to RCom remained unanswered. 
●    The move comes after the company, reeling under debt of around Rs 46,000 crore, failed to close to its wireless business merger deal with Aircel in the beginning of this month.
●    RCom and Aircel in September last year had signed a binding agreement to merge their mobile businesses. 


Interstate migration in India doubled between 2001-2011: WEF


Interstate migration in India doubled between 2001 and 2011 compared to the previous decade, with Pune and Surat emerging as the most affected cities in the Asian region, says a WEF report. 
●    According to the World Economic Forum’s report on ‘Migration and Cities’, India is home to one-fourth of the 100 fastest-growing cities in the world while Mumbai, Delhi and Kolkata are among the 10 most populous urban areas worldwide.
●    The report further said in the Asian region, Pune and Surat have been named among the most affected cities, besides Guangzhou and Davao City.
●    According to the United Nations, there are three times more internal migrants than international migrants in the world.
●    In India, interstate migration doubled between 2001 and 2011 compared to the previous decade, growing 4.5 per cent annually, WEF said, adding annual interstate migration in the country averaged about 5-6 million migrants a year. 
●    “Migrants are drawn to cities in search of economic, social and creative opportunities,” said Alice Charles, Lead, Cities, World Economic Forum.


Over 400 industries reduced CO2 emission by 2% in 2012-15


Bureau of Energy Efficiency (BEE) today said over 400 industries monitored by it have reduced their CO2 emissions by 31 million tonnes (MT) - about 2 per cent of annual CO2 emissions - between 2012-15.
●    "Over 400 industries reduced their emissions by 31 million tonnes of CO2, approximately 2 per cent of annual CO2 emissions, during the first implementation cycle of Perform, Achieve & Trade Scheme (PAT) by BEE between 2012 and 2015," a BEE statement said.
●    According to the statement, the first cycle of PAT (2012 -15) covered 478 Designated industries (DCs) from 8 energy- intensive sectors - aluminium, cement, chlor-alkali, fertiliser, iron and steel, pulp and paper, textiles and thermal power plant.
●    Together, these sectors account for about 33 per cent of India's primary energy consumption.
●    BEE said the scheme resulted in saving of energy equivalent to 8.67 MT of oil, exceeding the target of 6.86 MT by about 30 per cent.
●    This also resulted in avoided generation of about 5,635 MW, resulting in monetary savings of Rs 37,685 crore. 
●    At the same time Rs 9,500 crore have been saved due to reduction in energy consumption.


Hindustan Unilever gross profit increased by 16 percentage


The country’s largest consumer goods maker by volume and profits Hindustan Unilever Ltd (HUL) has posted a better than expected earnings of 16 per cent profit growth at ₹1,276 crore in the quarter ending September 30, 2017, on the back of price cuts, new launches and higher consumer demand.
●    The company's total sales grew by 10 per cent at ₹8,199 crore during the quarter, which also witnessed the country's biggest tax reforms in form of Goods and Services Tax (GST). 
●    However, earnings for this quarter is not comparable with the same quarter in the previous year due to change in the excise duty accounting structure as required by the SEBI, wherein the total sales is inclusive of the excise duty, that is replaced by GST during the quarter.
●    Taking the new accounting structure into consideration, the net sales at ₹8,199 crore during the quarter will be 2 per cent lower than ₹8,335 crore in the year-ago period, the company said. 
●    Volume growth for the quarter came in at 4 per cent, which was more or less in line with estimates.
●    HUL, which claims that about nine out of 10 households in the country consumes its products daily, said that despite the challenges that GST had on trade pipeline, the company was able to manage the transition and maintain demand by passing on the net benefits of the GST to the consumers in terms of price cuts and discounts. 
●    The company had taken about 3-4 per cent price cuts in the July-September quarter. The board has announced an interim dividend of ₹8 per share.

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