Today’s Current Affair Capsule has a brief collection of important news from national dailies and government releases on PIB useful for UPSC IAS, CDS, SSC CGL, NDA, etc.) It covers The Hindu, Indian Express, thewire.in. scroll.in, PIB, Govt Websites, Down to Earth.
National Important Current Affairs – 5 September 2017
■ Today is Teacher’s Day. The day is observed to commemorate the birth anniversary of academician, statesman and philosopher Dr. Sarvepalli Radhakrishnan who was the second President and first Vice President of India.
The Prime Minister Modi has wished the country on this occasion and called on people to make the next 5 years about teach to transform, educate to empower and learn to lead.
Vice President M Venkaiah Naidu will confer the National Award to Teachers. The award is given as public recognition to meritorious teachers working in primary, middle and secondary schools. The awards which were instituted in 1958 carries a medal, certificate, and award money of 50 thousand rupees. Special Awards also have been instituted for special educators who promote inclusive education in schools.
■ The Buxa Tiger Reserve in West Bengal has been identified for the tiger augmentation programme by the National Tiger Conservation Authority (NTCA).
Tigers from the forest reserves of Assam, which has a similar flora and fauna, will be introduced in Buxa. This reserve is located very close to Assam’s Manas Tiger Reserve, from which animals often come to Buxa using Bhutan as a corridor.
Problems posed in this region:
- Human habitation – There are about 38 villages in Buxa and 49 villages in the fringe area. A number of tea gardens are located on the periphery of the reserve.
- Presence of broad gauge rail – The broad gauge rail line passing through the reserve, connecting Siliguri and Alipurduar. Over the past few years, a number of elephants and other animals have died, having been run over by trains.
About Buxa Tiger reserve:
Notified as a tiger reserve in 1983, Buxa consists of moist, deciduous and evergreen forests. It stretches to a length of 50 km from west to east and 35 km from north to south.
■ Nitin Gadkari, Minister for Road Transport and Highways, Shipping and Water Resources, River Development and Ganga Rejuvenation has lagged off a fleet of first batch of 1000 E-rickshaws from Huda City Centre metro station in Gurugram.
- The E rickshaw fleet is being operated by Treasure Vase Ventures Private Limited in partnership of Delhi Metro, under the SmartE brand name.
- E-rickshaw fleet will not only provide cost effective and pollution free substitute in transport system of Gurugram, but will also generate employment opportunities for marginalised youth.
- SmartE will provide the last mile transport connectivity in the area.
- These E-Rickshaws have been manufactured in India and are fitted with GPS and tracking system.
■ The Maharashtra government has decided to declare lightning as a disaster and increase the compensation from Rs 1.5 lakh to Rs 4 lakh for victims and their families. This comes after the Centre recently directed the states to allocate 10% of their disaster relief funds towards state-specific disasters.
International Current Affairs Capsule – 5 September 2017
■ The BRICS Xiamen declaration has deplored all terrorist attacks worldwide, including attacks in BRICS countries, and condemned terrorism in all its forms and manifestations wherever committed, by whomsoever.
■ China has initiated a move to persuade India to go slow on the Asia Africa Growth Corridor, which New Delhi has formulated along with Japan. Beijing is now trying to persuade India and South Africa to merge the project with the BRICS platform and keep its rival, Japan, out of it.
- The Asia Africa Growth Corridor project was planned by India and Japan with the active support of the African Development Bank and several African countries including South Africa who wish to reduce their dependence on Beijing.
- It aims to create a ‘free and open Indo-Pacific region’ by rediscovering ancient sea-routes and creating new sea corridors by integrating the economies of South, Southeast, and East Asia with Oceania and Africa.
It is seen by many as an alternative Silk Road to tap the African market, China has seen this move as a source of major competition which will reduce its economic and political influence over the African continent. It is now trying to persuade both India and African countries to merge the initiative with the BRICS agenda so it can have better control over it.
■ Symbolising the growing hydrocarbon engagement between India and Myanmar, the first consignment of 30 MT of High Speed Diesel was sent today from India to Myanmar by land route.
The Numaligarh Refinery Ltd. (NRL), which has been supplying HSD to Bangladesh, has despatched the first diesel consignment through NH 37 across the Moreh Custom Check Point on the Indian side and Tamu Custom Check Point on the Myanmar side. NRL refinery, situated at 420 km from the India-Myanmar border, is ideally suited to supply diesel to Northern Myanmar where connectivity is a challenge, particularly in the rainy season.
Supply of diesel consignment to Myanmar is another step in realizing the vision of Prime Minister Shri Narendra Modi to enhance hydrocarbon synergy with neighbouring countries as well as promoting India’s Act East Policy.
Recall that : Minister of Petroleum and Natural Gas, Dharmendra Pradhan had visited Myanmar in February this year during which opportunities for collaboration in the oil and gas sector including setting up of LNG terminal, retail marketing, refurbishment of refineries, participation in upstream sector and capacity building.
■ Astronomers working for Stephen Hawking’s Breakthrough Listen (BL) project have detected a mysterious signal in a distant galaxy and termed it a possible extra-terrestrial communication which has now sparked a controversy. Reportedly 15 fast radio bursts (FRBs) have been picked up from a source unknown and are not sure if they came from neutron stars, black holes or extraterrestrial lives across the universe.
What is a fast radio burst?
In radio astronomy, a fast radio burst (FRB) is a high-energy astrophysical phenomenon of unknown origin manifested as a transient radio pulse lasting only a few milliseconds.
About Breakthrough Listen Project:
Breakthrough Listen is a program to search for intelligent extraterrestrial communications in the Universe. With $100 million in funding and thousands of hours of dedicated telescope time on state-of-the-art facilities, it is the most comprehensive search for alien communications to date.
Economics Today’s Current Affair Capsule – 5 September 2017
■ The Central Board of Direct Taxes (CBDT) has entered into 4 more Advance Pricing Agreements (APAs) during August, 2017. Out of these 4 Agreements, 3 are Unilateral and 1 is a Bilateral. With the signing of these 4 Agreements, the total number of APAs entered into by CBDT has reached 175.
- The Bilateral APA is for international transactions between an Indian company and a UK-based company. This is the 8th Bilateral APA with the United Kingdom and 13th overall (the other 5 being with Japan).
The APA provisions were introduced in the Income-tax Act in 2012 for addressing complex transfer pricing issues in a fair and transparent manner. The “Rollback” provisions were introduced in 2014.
The APA scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance.
■ Five banks of the BRICS inter-Bank Cooperation Mechanism have agreed to establish credit lines in the national currencies and cooperate on credit ratings. These participating banks are :
- Brazilian Development Bank (BNDES),
- Vnesheconom bank,
- Export-Import Bank of India,
- China Development Bank and
- Development Bank of South Africa (DBSA)
- The use of local currencies will help promote mutually beneficial economic cooperation, mitigate currency risks, increase trade, and facilitate companies in accessing the BRICS markets.
- The cooperation on credit ratings allows the ICM members to share information about internal credit ratings assigned to clients, as well as rating assessment and assignment methodologies.
BRICS interbank cooperation mechanism:
In order to develop and strengthen economic ties and investment cooperation between BRICS countries, in 2010 state financial institutions for development and export support of the BRICS nations entered into a Memorandum on cooperation, thus creating the BRICS interbank cooperation mechanism.
One of the main purposes of cooperation is to set up a scheme designed to provide financing and banking services for future investment projects that could be beneficial for the economic development of the BRICS countries.
■ The Indian Computer Emergency Response Team (CERT-In) has issued an alert about spread of new ransomware (malicious software) ‘Locky’ that can lock computers and demand ransom for unlocking them.
A ransomware is a type of malicious software designed to block access to computer system until sum of money is paid. The Ransomware Locky ransomware is being circulated through massive spam campaign in which spam emails with common subject lines target computers by locking them and demanding ransom for restoring access to users.
Note that: The Locky Ransomware cyberattack is third major ransomware attack this year after Wannacry and Petya which had crippled thousands of computers across the globe. India was third worst affected country in list of over 100 countries hit by Wannacry in May 2017.
■ The CBDT is working on a new app “My Pay”, that would facilitate payment of levies and taxes through UPI, digital wallet and net banking.
Sports Current Affairs – 5 September 2017
■ Star India has won the Indian Premier League (IPL) media rights for around Rs 16,350 crore for the next five years from 2018-2022. With this deal, BCCI will now earn approximately 55 crore rupees from an IPL match compared to 43 crores for each international match (ODI) that India plays.
■ In the Singles of US Open tennis, 19-year old Russian Andrey Rublev has become the youngest man to reach the US Open quarter-finals since Andy Roddick in 2001.
“Current Affairs Questions for UPSC IAS Prelims”
Q1. Which state government will provide free education to girls up to graduation?
- A) Tamil Nadu
- B) Odisha
- C) Andhra Pradesh
- D) Karnataka
Q2. Apart from India, which of the following nations have a female Defence minister at helm ?
- A) Brazil
- B) Italy
- C) Germany
- D) Turkey
Answer these questions in the comments below. We encourage you to discuss your thoughts on the news and issues mentioned in today’s current affairs post. The idea is to promote healthy discussions on interesting issues to make preparation fun. Have a good day!
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