14th March 2017 – Current Affairs Today

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National Current Affairs

Surplus Budget Estimate 2017-18 for Telangana state

  • Telangana presented the budget estimate of 1,49,646-crore for 2017-18 in the state assembly.
  • The 2017-18 budget is Rs 15 lakh crore more when compared to Rs 13 lakh crore in the 2016-17 Budget
  • The Gross State Domestic Product (GSDP)growth at constant prices in 2016-17 is likely to be 10.1 percent as against expected national GDP growth of 7.1 per cent
  • State’s Per Capita Income in 2016-17 is estimated to increase to Rs 1,58,360 from Rs 1,40,683 in 2015-16.
  • Committed expenditure in 2017-18 has been pegged at Rs 61,607.20 crore while the Revenue Expenditure at Rs 50,954.61 crore

Arunachal Pradesh Launches Adarsh Gram Yojana for Rural Poor

  • The scheme aims to reach the poor people in rural areas of the state to serve them better.
  • Under the scheme, 123 villages(comprising one village per circle) will be developed as ‘Model Villages’ during the fiscal year 2017-18.
  • The state government has allocated an amount of 93 crore in the Budget 2017-18 for infrastructure development and for creating employment opportunities and community assets for the people of those villages.

International Current Affairs

Pakistan to Conduct its First Census in 19 years From March 15

  • Pakistan government is set to conduct its first national census in 19 years from March 15, 2017 for proper allocation of funds and resources.
  • The census will be done in two phase. The first phase of the census will begin on March 15 and last on April 15. After a ten day gap, the second phase will start from April 25 and conclude on May 25.
  • For the census program, an amount of Rs 18.5 billion have been allocated by the government.
  • Islamabad last conducted a census in 1998, which recorded a national population of approximately 180 million.

Bangladesh declares to Observe March 25 as ‘Genocide Day’

  • Parliament of Bangladesh unanimously adopted a resolution to declare March 25 as Genocide Day in remembrance of the brutality carried out by the Pakistani Army in the “Black Night” of March 25, 1971.
  • Pakistani Army carried out history’s most cruel genocide on Bengali people on the night of Mar 25, 1971 as their leader Bangabandhu Sheikh Mujibur Rahman proclaimed Bangladesh’s independence to free the nation from Pakistani subjugation.

Business & Economy

RBI Removes Limit on Cash Withdrawal from Savings Banks Accounts

  • In order to comply with the pace of remonetization, the Reserve Bank of India(RBI) has decided to remove the restrictions on cash withdrawals from Saving Bank accounts(including accounts opened under PMJDY) in a two-step process.
  • Firstly, effective from February 20, 2017, the limits on cash withdrawals from the Savings Bank accounts was enhanced to Rs. 50,000 per week from the current limit of Rs. 24,000 per week.
  • Besides, effective from March 13, 2017, there will be no limits on cash withdrawals from Savings Bank accounts.
  • On January 30, the RBI had ended all curbs on withdrawals from Current Accounts, Cash Credit Accounts and Overdraft Accounts.

Hyundai Signs 3 Bn Euro Deal For Iran Oil Project

  • Hyundai Engineering Co has signed a deal worth 3 billion euros (USD 3.2 billion) with an Iranian investment fund to invest in a major Iranian oil project.
  • The South Korean company will have nine months to secure financing for the oil project which is a potential obstacle due to continued reluctance of international banks to engage with Iran.
  • The second phase of the deal involves the construction of four production plants at the Kangan site and is expected to take four years.
  • The first phase of the Kangan project was 30 percent completed with an investment of nearly 120 million euros.

Intel to buy Mobileye for $ 15.3 billion

  • Intel has announced a deal under which it will buy Israeli technology company Mobileye for $15.3 billion.
  • Mobileye provides anti-collision, driver assistance, and autonomous driving solutions. Intel will buy all the shares of Mobileye at $63.54 per share in cash. 
  • The acquisition will combine the computer vision expertise of Mobileye with the high-performance computing of Intel to create automated driving solutions from the cloud through the network to the car.
  • Intel has estimated the vehicle systems, data and services market to be around $70 billion by 2030.

People in News 

HSBC Appoints Mark Tucker as its New Chairman

  • AIA Group Ltd Chief Executive, Mark Tucker  will take over on October 1, 2017, succeeding Douglas Flint who has been in the role since 2010.
  • The appointment of Trucker breaks an HSBC tradition of appointing insiders to the chairmanship.
  • Mr Tucker has been chief executive of AIA for seven years. Before AIA, he was the chief executive of insurance giant Prudential, AIA Group Ltd.

Finance Minister Arun Jaitley Assumes Additional Charge of Defence 

  • Union Finance minister Arun Jaitley was given the additional charge of the Defence Ministry after Manohar Parrikar resigned to take on the new role of Chief Minister of Goa.
  • Upon the advice of Prime Minister Narendra Modi, President Pranab Mukherjee directed that Arun Jaitely shall be assigned the charge of the ministry of defence, in addition to his existing portfolios.
  • This is the second time that Jaitley is holding the additional portfolio of Defence Ministry during the present NDA government

Sports Current Affairs 

Lee Chong Wei Wins His Fourth All England Championship Title

  • Top seeded Lee Chong Wei won his fourth All England Championship in men’s singles event by beating Shi Yuqi from China 21-12, 21-10 at the Barclaycard Arena in Birmingham, England on March 12, 2017.
  • Other Category Winners
Category Winner Runner Up
Women’s Single China’s Tai Tzu-ying 21-16, 22-20 Thailand’s Ratchanok Intanon
Men’s Double Indonesia’s Marcus Gideon and Kevin Sukamuljo 21-19, 21-14 China’s Li Junhui and Liu Yuchen
Women’s Double South Korea’s Chang Ye Na and Lee So Hee 21-18, 21-13 Denmark’s Kamilla Rytter Juhl and Christinna Pedersen
Mixed Double China’s Lu Kai and Huang Yaqiong 18-21, 21-19, 21-14 Malaysia’s Peng Soon Chan and Liu Ying Goh

 

SSP Chawrasia Becomes Second Indian Golfer to Defend Indian Open Title

  • SSP Chawrasia became the only Indian Golfer to retain his Hero Indian Open title for the second year in a row with a remarkable seven-stroke win in New Delhi
  • This was his sixth win on the Asian Tour and overall sixth international victory.
  • Chawrasia is the third player to win back-to-back Indian Open. The other two golfers who did so earlier are Jyoti Randhawa who won in 2006 and 2007 and Japan’s Kenji Hosoishi who won in 1967 and 1968.

Punjab Defeats Railways to Win Santosh Trophy

  • Railways who failed to make constructive moves in the first half came with occasional foray in the second half and restored parity in the 59th minute.
  • Punjab led by 1-0 at half time with score from Rajbir Singh (16th, 61st).
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