1. Cabinet Approves Setting up of 15th Finance Commission
i. The Cabinet has approved the setting up of the 15th Finance Commission which will assess the tax resources of the nation and suggest a formula for their devolution among states. Its recommendations will have to be in place before April 1, 2020, it takes 2 years for Finance Commission to give its recommendations.
ii. As per Article 280 of the Constitution, the Commission is required to make recommendations on the distribution of the net proceeds of taxes between the Centre and the States.
2. Brahmos Flight test from IAF’s Su-30MKI Fighter Aircraft
i. Brahmos, the world’s fastest supersonic cruise missile created history after it was successfully flight-tested first time from the Indian Air Force’s (IAF) frontline fighter aircraft Sukhoi-30MKI against a sea-based target in the Bay of Bengal.
ii. The successful maiden test firing of Brahmos Air Launched Cruise Missile (ALCM) from Su-30MKI will significantly bolster the IAF’s air combat operations capability from stand-off ranges.
3. India becomes Second Largest Fish Producing Country in the World
i. Combining the production of all types of fisheries (capture and culture), the total fish production has reached at about 11.41 million tonnes in 2016-17 and India has become the second largest fish producing country in the world, Union Agriculture Minister Radhan Mohan Singh stated while addressing a conference on the occasion of World Fisheries Day in New Delhi.
ii. The scheme ‘Blue Revolution’ has been launched with the outlay of Rs. 300 crore for the integrated development of the Fisheries sector in the country. As a result, overall fish production has registered an increase of about 18.86% in comparison to the last three years, whereas inland fish production has registered a growth of more than 26%.
- China is the largest fish producer country in the world.
- Radha Mohan Singh represents Purvi Champaran constituency in Bihar state.
- Blue Revolution: Integrated Development and Management of Fisheries.
4. Conference of Commanders of Eastern Air Command commence in Shillong
i. A two-day conference of all Commanders of Eastern Air Command commenced at Shillong in Meghalaya, where issues pertaining to security are being discussed.
ii. Chief of the Air Staff Air Chief Marshal B S Dhanoa interacted with the Commanders and exhorted them to put in efforts to upgrade the operational infrastructure and capability of eastern zone.
5. Andhra Bank Launches scheme to push Entrepreneurship
i. Andhra Bank has launched a new scheme for self-help groups (SHGs) to encourage entrepreneurship. The scheme, Pattabhi Sitaramayya — Self Business Group (PS-SBG), has been introduced to commemorate the 138th birth anniversary of its founder Bhogaraju Pattabhi Sitaramayya, and the Silver Jubilee of the SHG-Bank linkage programme in the country.
ii. Under the scheme, SHGs having five years of association with Andhra Bank and having successfully completed three credit rotations with good repayment record and an aptitude for entrepreneurship, will be eligible for a loan.
- Andhra Bank was registered on 20th November 1923 and commenced business on 28th November 1923 with a paid up capital of Rs 1.00 lakh and an authorised capital of Rs 10.00 lakhs.
- Managing Director & CEO of Andhra Bank- Suresh N Patel
- Headquarter- Hyderabad, Telangana
6. Telangana Makes Telugu Compulsory Till Inter from Next Academic Year
Telugu would be implemented as a compulsory subject from first standard to Intermediate, including in the CBSE and ICSE schools, from the next academic year in Telangana.
Deputy Chief Minister K. Srihari, who also holds Education portfolio, reviewed the steps to be taken before the commencement of the 2018-19 academic year in tune with the decision already taken by Chief Minister K. Chandrasekhar Rao.
- Telangana Founded: 02nd June 2014
- Governor of Telangana- E. S. L. Narasimhan
7. Paytm Acquires Stake in online Loans Firm CreditMate
i. Paytm has bought an undisclosed stake in Urja Money Pvt. Ltd, which evaluates creditworthiness of people seeking loans to buy two-wheelers. Paytm will use Urja’s proprietary CreditMate technology to create a loan management system in collaboration with lending partners.
ii. Mumbai-based Urja, incorporated in July 2016, has partnerships with banks and non-banking entities on the supply side and auto-dealers on the demand side. The company raised $500,000 from India Quotient last November.
8. Facebook Aims to Train 5 lakh Indians on Digital Skills by 2020
i. Social networking giant Facebook stated that it expects to train about five lakh people in India on digital skills by 2020 and has unveiled two programmes designed for individuals and start-ups.
ii. The two programmes – Facebook Digital Training and Facebook Startup Training Hubs – are being rolled out in India before any other country. Apart from these two, Facebook also runs offline training programmes as well as Blueprint (free online training for advertising on Facebook).
9. Trump, Putin Agree to Support UN in Syrian Peace Process
i. US President Donald Trump and Russian President Vladimir Putin has agreed to support the U.N. effort to “peacefully resolve” the nearly seven-year-long Syrian civil war.
ii. They also discussed ways “to implement a lasting peace in Ukraine,” where pro-Russian separatists have been fighting troops loyal to Kyiv, and how to keep international pressure on North Korea to end its nuclear weapon and missile development programs.
- Capital of Syria: Damascus, President: Bashar al-Assad, Currency: Syrian pound
- Capital of Ukraine- Kiev, Currency: Ukrainian hryvnia,
- Headquarters of United Nations- New York, USA.
10. Robert Mugabe Resignation ushers in New Era for Zimbabwe
i. Robert Mugabe has resigned as president of Zimbabwe with immediate effect after 37 years in power, ushering in a new era for a country as uncertain as it is hopeful.
ii. The man who ruled with an autocrat’s grip for so many years finally caved to popular and political pressure hours after parliament launched proceedings to impeach him.
- Capital of Zimbabwe- Harare
- Central Bank of Zimbabwe: Reserve Bank of Zimbabwe.
- The Zimbabwean Dollar is the currency of Zimbabwe.