NATIONAL NEWS Govt issues orders for extending assistance to sugarcane farmers In a bid to help sugar mills to clear cane dues of farmers, Central Government has issued orders to extend financial assistance @ of Rs. 5.50 per quintal of cane crushed in sugar season 2017-18 to sugar mills to offset the cost of cane. Assistance to sugarcane farmers: i. The said assistance shall be paid directly to the farmers on behalf of the mills on the basis of actual cane crushed. ii. On account of high sugar production vis-à-vis consumption, sugar prices have remained depressed since the beginning of current sugar season 2017-18. iii. Surplus holdings have negatively affected the liquidity position of sugar mills which has in turn lead to accumulation of cane price dues of farmers. iv. The total assistance as per this decision is estimated to be about Rs. 1540 crore. Telangana CM launches investment support scheme for farmers Telangana Chief Minister K Chandrasekhar Rao launched Rythu Bandhu (friend of farmers), an investment support scheme for farmers. More information about Telangana Government s Rythu Bandhu Scheme: i. This scheme is claimed to be the first such initiative among all states of India. ii. Under Rythu Bandhu Scheme, all farmers in Telangana who own land, will be provided investment support of Rs 8000 per acre per year. iii. This scheme has been rolled out with budgetary allocation of Rs 12000 crore for 2018-19. iv. However, Rythu Bandhu Scheme has not been extended to tenant farmers. Committee to review conduct of everyday business in Rajya Sabha Vice President of India and the Chairman of the Rajya Sabha, Venkaiah Naidu has constituted a 2-member committee to review rules of procedure and conduct of business in Rajya Sabha.
Details about the Committee: i. The two-member committee will be headed by V.K. Agnihotri Former Rajya Sabha Secretary General, while the other member will be S.R. Dhaleta Former Joint Secretary in the Union Ministry of Law and Justice. ii. Although the committee will review the rules of procedure for conduct of business as a whole, it will focus on provisions, which seem inadequate vis-a-vis rules in Lok Sabha. iii. It is to be noted that this committee has been formed in wake of repetitive disruptions witnessed in both the houses during the recent budget session. iv. The committee has been asked to submit its report to Chairman of Rajya Sabha in three months. Joint Exclusive Economic Zone (EEZ) Surveillance of Maldives Indian Navy is engaged in conducting a joint exclusive economic zone (EEZ) surveillance of Maldives. More information about Joint EEZ Surveillance of Maldives: i. For this purpose, Indian Navy has deployed Indian Naval (IN) ship Sumedha, a Naval Offshore Patrol Vessel (NOPV), from 9th to 17th May 2018. ii. This deployment is a part of Indian Navy s Mission Based Deployments. iii. On 11th and 12th May 2018, INS Sumedha would undertake an Operational Turnaround (OTR) at Male, during which it will interact and impart training to Maldives National Defence Forces (MNDF) personnel. iv. From 12th to 15th May, 2018, INS Sumedha will undertake joint EEZ surveillance of Maldives with MNDF personnel onboard. v. In context of this news, it is important to note that two officers and eight sailors of the Indian Navy s Marine Commando (MARCO) cadre are currently conducting the 2nd Asymmetric Warfare Training Exercise Ekatha 2018 at Maldives. Ekatha 2018 started on 28th April, 2018 and will conclude on 15th May, 2018. Quick Facts about Maldives: Capital Male Currency Maldivian rufiyaa Current President Abdulla Yameen Department of Economic Affairs disposes five FDI proposals in April, 2018 Department of Economic Affairs (DEA) under Union Ministry of Finance disposed of five foreign direct investment (FDI) proposals during April, 2018. FDI proposals disposed in April 2018: i. Applicants whose, proposals have been approved are M/s Alcon Laboratories (India) Pvt Ltd. for undertaking financial lease of ophthalmic surgical equipment in India in addition to the existing business of wholesale trading in India and M/s CVC Asia Pacific (Singapore) Pte. Limited, which pertains to amendment application relating to
imposition of minimum capital norms. ii. Another proposal which has been approved is of M/s Hindustan Infralog Pvt Ltd., seeking approval for foreign investment up to Rs. 3250 crore in M/s Hindustan Infralog Pvt Ltd. iii. A proposal from M/s Northvale Capital Partners Private Limited seeking approval for acquisition of up to 100% of the share capital of a non-operational investment holding company, namely M/s Vadodara Stock Exchange Limited, a derecognized stock exchange has been returned to the on the ground of being premature while an application by M/s Kora Research Advisors India LLP, seeking post facto approval for the cumulative investments made by M/s Kora Management LP, USA and M/s Kora LLC, USA in M/s Kora Research Advisors India LLP has been rejected. New Projects on priority for developing tourism in NE states: Dr Jitendra Singh On 11th May 2018, Union Minister of State (Independent Charge) of the Ministry of Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr. Jitendra Singh conducted a meeting with Union Minister of state for Tourism (I/C) and Electronics and Information Technology K.J. Alphons in New Delhi. i. The meeting was held as a part of continuing inter-ministerial discussions for development of North Eastern states. ii. Discussions were made on proposals for identifying new projects on priority for development of tourism in North Eastern states. iii. Dr. Jitendra Singh said that, the Ministry of DoNER has recommended to the Finance Ministry for higher fund allocation and special package for certain projects in the NE region. iv. He said that, under the North East Special Infrastructure Scheme (NESIDS), the DoNER Ministry offers financial assistance for projects of physical infrastructure related to water supply, power, connectivity to encourage tourism in the region. v. He added that, under North Eastern Council (NEC), work for promotion of theme-based regional tourism circuits is in progress. About North Eastern Council (NEC): Chairman Dr. Jitendra Singh Headquarters Shillong, Meghalaya India s longest rail-road bridge to be inaugurated this year India s longest road and railway bridge Bogibeel bridge, linking Dibrugarh in Assam to Pasighat in Arunachal Pradesh is expected to be inaugurated in 2018 by Prime Minister Narendra Modi. This project was approved in 1996. Construction of the bridge was initiated in 2002. It was declared as a national project in 2007.
Parliamentary panel headed by Murali Manohar Joshito look into black money recovery, performance of public sector banks A parliamentary panel headed by BJP leader Murali Manohar Joshi decided to study the recovery of black money and performance of public sector banks etc. i. The Estimates Committee consists of 30 members. It has planned to study various subjects related to several ministries in 2018-19. ii. As per the memorandum of the committee, the panel will overview the import of uranium for nuclear plants, mining activities and environment, upgrading of India Post offices and the drought situation in India etc. iii. The panel on estimates is also called the continuous economy committee. It recommends changes in policy or administrative framework to achieve efficiency in expenditure. iv. It has planned to overview the functioning of Enforcement Directorate and recovery of black money, performance of public sector banks, debt recovery tribunals, rural housing fund and review the imports, exports and balance of payments. v. The panel will also review preparedness of the armed forces, defence production and procurement and make recommendations to the government. vi. This panel was reconstituted by Lok Sabha Speaker Sumitra Mahajan on 1st May 2018. She re-appointed Murali Manohar Joshi as its Chairman. vii. Apart from this panel, the Public Accounts Committee also overviews the issue of black money after implementation of demonetisation. Kerala Government to provide free internet Kerala Government approved setting up of the Kerala Fibre Optic Network Limited, the Joint Venture, to implement the Kerala Fibre Optic Network (K-FON) project, as a part of its programme to offer free internet to over 20 lakh poor families. IAF conducts first-ever online exam for selection of airmen The IAF (Indian Air Force) successfully conducted its first online selection test for airmen. The first ever Scheduled Test for Airmen Recruitment (STAR) was held through computer based online tests in association with Centre for Development of Advanced Computing (CDAC) Pune. Stanford University to partner with UP to combat chronic diseases Uttar Pradesh Health Minister Sidharth Nath Singh informed that the United States Stanford University will partner with
Uttar Pradesh to fight disease like Japanese Encephalitis (JE) and Acute Encephalitis Syndrome (AES). i. Sidharth Nath Singh headed the delegation of top state officials to the United States. ii. As a part of the official visit to the United States, the Indian delegation met with officials from the State Department, the Department of Commerce and the United States Agency for International Development (USAID). They also held round tables with industry representatives. INTERNATIONAL NEWS External Affairs Minister, Sushma Swaraj Visits Myanmar i. Union External Affairs Minister, Ms. Sushma Swaraj was on an official visit to Myanmar on 10thand 11th May 2018. This visit was a part of the high-level engagement between the two countries ii. During this visit, Ms. Sushma Swaraj called on Win Myint President of Myanmar, held a meeting with Myanmar State Councillor Aung San Suu Kyi and also met Senior General Min Aung Hlaing Commander in Chief of the Myanmar Defence Services BANKING & FINANCE YES Bank to launch water-security programme YES Bank is to launch a capacity building project with farmers in Haryana and Rajasthan under its Livelihood and Water Security CSR (Corporate social responsibility) initiative. YES Bank to launch water-security programme: i. The main focus of the programme is sustainable agricultural practices and digital literacy. ii. It aims to improve farmers access to finance, offer effective use of digital banking resources, and good agricultural practices. iii. The programme will be launched during the current year in Haryana and Rajasthan. iv. Initially it will be launched in 15 districts (eight districts in Haryana and seven in Rajasthan). AWARDS & RECOGNITION Prof Muhammad Yunus conferred KISS Humanitarian Award 2018 On 11th May 2018, Prof Muhammad Yunus was awarded the 11th KISS Humanitarian Award 2018 at an event, in Bhubaneswar, Odisha.
Prof Muhammad Yunus conferred KISS Humanitarian Award 2018: i. KIIT and KISS (Kalinga Institute of Social Sciences) president Saswati Bal and founder Achyuta Samanta presented the award to Prof Muhammad Yunus. ii. Prof Muhammad Yunus is the founder of Grameen Bank of Bangladesh. He is known as the Father of Microfinance. He is the second Nobel laureate to receive this award. iii. KISS Humanitarian Award is an international award. It is presented to someone who has contributed exceptionally to the society in fields related to social issues. APPOINTMENTS & RESIGNS Munu Mahawar appointed as the next Ambassador of India to the Sultanate of Oman Munu Mahawar, an Indian Foreign Service (IFS) officer of 1996 batch has been appointed as the next Ambassador of India to the Sultanate of Oman. Flipkart co-founder Sachin Bansal quits after Walmart deal Flipkart co-founder and Executive Chairman Sachin Bansal has announced his exit from Flipkart, following Walmart s deal to acquire Flipkart. Flipkart co-founder Sachin Bansal quits after Walmart deal: Flipkart sold 77 per cent stake to Walmart group. Sachin Bansal sold his 5.5 per cent stake for about $1 billion to Walmart and exited Flipkart. Sachin Bansal and Binny Bansal had started Flipkart with a capital of Rs. 4 lakh. Binny Bansal has decided to stay with Flipkart. SPORTS Rishabh Pant s 128* highest-ever score by an Indian in IPL Delhi Daredevils Rishabh Pant scored 128*(63) against SunRisers Hyderabad.
He has become the first Indian to reach the highest-ever score in the history of Indian Premier League. OBITUARY Former Test Cricketer Rajinder Pal Passes Away Former Test cricketer Rajinder Pal, who represented India in one Test match, passed away at his Dehradun residence on May 9, 2018. Oscar-winning film editor Anne V. Coates dead On 8th May 2018, film editor Anne V. Coates, died in California, United States. David Goodall, Australia s oldest scientist, ends his own life aged 104 Australia s oldest scientist David Goodall ended his own life at a clinic in Switzerland. IMPORTANT DAYS National Technology Day Every year, 11th May is observed as National Technology Day in India to commemorate major technological breakthroughs attained on 11th May 1998. National Technology Day Background information: i. On 11th May 1998, India successfully carried out nuclear tests at Pokhran, Rajasthan (under Operation Shakti ), flew its first, indigenous aircraft Hansa-3 and also performed successful test firing of the Trishul missile.