7th March 2017 – Current Affairs Today

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National Current Affairs

Andhra Pradesh Renames Tirupati Airport and Vijayawada Airport

  • The cabinet proposed to rename the Vijayawada Airport in Gannavaram as ‘Nandamuri Taraka Rama Rao (NTR) Amaravati Airport’ after the legendary actor and founder of the ruling Telugu Desam Party and the new capital of Andhra Pradesh.
  • The Tirupati Airport at Renigunta has been renamed as ‘Sri Venkateswara Airport’ after Lord Venkateswara of the temple town.

Maharashtra Cabinet Plans to Regulate Web-Based Taxi Services

  • The aim of the move is to ensure affordable travel for passengers and commuters and bring
  • The decision was based on the complaints that web-based taxis like Ola, Uber, Taxi for Sure charged fares as per the supply of the taxi services and demand by the commuters.
  • As per the new regulation, the vehicle would have GPS/GPRS system in the vehicle and there will be a display of the route and fare to be recovered for the same.
  • The service providers will have to register in the city where they wish to operate the taxi service.
  • The taxi drivers would be required to give a bill for the payment made by the commuters. Government will formulate the maximum and minimum fare. The fares will be different for small taxis, medium luxury taxis and large taxis.

India to supply additional 60 MW power to Bangladesh

  • North Eastern state Tripura has agreed to supply an additional 60 MW to Bangladesh over the 100 MW of power the north-eastern state it is supplying already.
  • This development comes after Bangladesh sought 100 MW electricity from India to solve its power crisis in the eastern part of the nation. They have no transmission facility to receive their entire request of 100 MW now.

Haryana Government announces Tirtha Darshan Scheme for Senior Citizen

  • Under the scheme, senior citizens of Haryana domicile above the age of 60 years will be able to go on a Pilgrimage within the country at government expense.
  • The government would bear the entire cost of the tour of senior citizens belonging to Below Poverty Line families.
  • In case of a couple, the expenses of the spouse belonging to BPL family would also be borne by the government. They would also be allowed to take an assistant along with them
  • In case of senior citizens of non-BPL families, the government would bear only 70 percent of the cost.

International Current Affairs

India To Lead the world in Smartphone Adoption During 2016-2020

  • According to the GSM Association report released in Barcelona, India will lead the world in Smartphone adoption with a net addition of 350 million connections in 2016-20.
  • As per the report, the developing world is set to add 6 billion smartphone connections between 2016 and 2020.
  • It also stated that the Smartphone adoption across developing markets will increase from an average of 47 percent in 2016 to 62 percent in 2020 which would be led by India, China and Indonesia.
  • In developing region, the Smartphone accounted for 51 percent of all mobile connections at the end of 2016 which was greater than that of basic and feature phone in all regions except sub-Saharan Africa.

IMF Reaches Preliminary Agreement with Ukraine

  • International Monetary Fund reached a preliminary agreement with Ukraine on an updated Memorandum of Economic and Financial Policies
  • The agreement will pave way for the IMF’s Executive Board to consider the third review of the arrangement under the Extended Fund Facility (EFF) and disburse fresh aid of $1 billion (0.9 billion euros) to Ukraine in the first half of March 2017.
  • The International Monetary Fund approved a $17.5 billion loan program for 4 years for Ukraine in 2015 to help the former Soviet republic financially amid a conflict with pro-Russia rebels.
  • Disbursements under the program have seen repeated delays over the past two years due to stop-start progress on reforms. So far Ukraine has received $7.7 billion under the program.

China hikes defence budget to $150 billion

  • China has increased its defence budget by 7% for 2017, the lowest increase in seven years and second year in row.
  • In real terms, the defence budget of the world’s largest armed forces, the People’s Liberation Army (PLA) is likely to be close to the $ 145 billion-mark.
  • China’s defence budget is much smaller compared to that of the US, which announced a 10% increase in its defence outlay after the change of oval office.

Business & Economy

IRDAI Proposes 50% Hike In Motor Insurance Premium From April 1

  • Insurance Regulatory and Development Authority of India (IRDAI) has proposed to increase the insurance premium to 50 percent for cars, motor cycles as well as commercial vehicles from April 1.
  • The proposed hike would be applicable for mid-segment cars (1,000 – 1,500 cc) as well as bigger cars and SUVs. The insurance premium would be raised to Rs 3,355 for cars up to 1,000 cc and Rs 9,246 for bigger ones.
  • Third party motor insurance premium for small cars (up to 1,000 cc) would remain same at Rs 2,055.
  • The regulator has also not proposed any increase for two-wheelers having engines up to 75 cc. However, the insurance premium for sports bikes and super bikes (more than 350 cc) has been increased to Rs 1,194 from the present Rs 796.

PAC Favors Naming and Shaming of Corporate Houses to Deal with NPA

  • A solution of “Naming and Shaming” big corporate houses which default on repayment of bank loans to help financial institutions get back their money has been proposed by PAC.
  • According to the government data, the Non Performing Assets(NPA) of the scheduled commercial banks was about 6.8 lakh crore in September 2016.
  • Out of the Rs 6.8 lakh crore of NPA, around 70 percent constitutes those taken by big corporate houses, while hardly 1 percent of it constitutes loans to farmers.
  • In case of farmers or small traders banks act strong and they go to their houses to recover money. They even get published their name and photograph in newspapers. But when it comes to corporate houses, they don’t reveal the names.

China sets 2017 GDP growth target at around 6.5%

  • China has set its GDP growth target at around 6.5 per cent for 2017, compared with a target range of 6.5 to 7 per cent last year.
  • The Downward target reflects the market situation globally that forces the world’s second largest economy to set this target. The GDP last year reached 74.4 trillion yuan (over USD 11 trillion) clocking 6.7 per cent.
  • GDP target is in consistent with both economic principles and realities and will help to stabilise market expectations and facilitate the country’s structural adjustments.

Facebook Launches ‘SheLeadsTech’ to Support Women Founded Startups in India

  • Facebook has launched a new initiative named SheLeadsTech to support startups which are founded or co-founded by women population.
  • The aim of the program is to encourage more women founders who wish to have their own startup or business.
  • The yearlong program will give the startups access to “FBStart”which will provide tools, resources and mentorship to help overcome some of the barriers they face.
  • Under the mentorship program the women founders will get support and advice from an all-women mentor panel.

Ola Signs MoU with MP Government to Train 25,000 People

  • Online cab aggregator Ola has signed MoU with Government of Madhya Pradesh to impart training to 25,000 youths in the state.
  • The aim of the MOU is to provide training, skill development and empowerment of 25,000 driver partners in the next two years.
  • The company has also set a goal of nurturing micro entrepreneurship and skilling 50 lakh drivers by 2020.
  • Ola will organize on-ground events, build communication modules and create conducive ecosystem for aspiring driver partners to get requisite training and skills.
  • Ola will work closely with the Skill Development Department of the state in providing essential training infrastructure, utilities and technology framework to ensure an improved employment scenario for the youth of Madhya Pradesh.

Awards

M P Veerendra Kumar Presented Moortidevi Award

  • Eminent Malayalam author and journalist M P Veerendra Kumar was presented the 30th Moortidevi award by Bharatiya Jnanpith organisation in Kozhikode Kerala.
  • He was chosen for the prominent award for his Malayalam travelogue Hymavathabhoovil, which dwells upon ancient trails of Indian culture, myth, literature and people strewn in the plains, valleys and mountains of India”
  • Moortidevi award, which is presented every year for “contemplative and perceptive work” published in in all Indian languages besides English pertaining to Indian philosophy.

Sports Current Affairs 

List of Winners of the ISSF Shooting World Cup 2017

  • Jitu Rai and Heena Sidhu bagged the first ever gold medal in the newly included 10m pistol mixed event at the ISSF Shooting World Cup.
  • Pooja Ghatkar clinched bronze medal in the women’s 10m air rifle event in the International Shooting Sport Federation (ISSF) World Cup.
  • Jitu Rai won gold medal in the 50-metre free pistol event on March 1, 2017 in the ISSF World Cup

2017 Dubai Tennis Championships 

Category Winner Runner
Men’s Singles Andy Murray (United Kingdom) Fernando Verdasco(Spain)
Women’s Singles Elina Svitolina(Ukraine) Caroline Wozniacki(Denmark)
Men’s Doubles Netherlands Pair
Jean-Julien Rojer / Romania Horia Tecău
Rohan Bopanna (India) / Marcin Matkowski (Poland)
Women’s Doubles Ekaterina Makarova(Russia) / Elena Vesnina(Russia) Andrea Hlaváčková (Czech Republic) / Peng Shuai ( China)
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