Current Affairs & Quiz - 17th August 2019

Posted: August 17, 2019
Category: Current Affairs
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Vice President embarks on three nation’s tour to Lithuania, Latvia & Estonia

Vice President M. Venkaiah Naidu will embark on a three-nation visit to Lithuania, Latvia and Estonia from 17th August 2019. The Vice President will be accompanied by a high-level delegation.

Vice President's visit will be the first-ever high level visit to the three Baltic countries. The visit takes place in the context of increasing political engagement, as well as intensified trade and commercial ties. The visit of Vice President to the three Baltics countries is to advance India’s outreach to the important countries in the region.

PM Modi leaves for two-day visit to Bhutan

Prime Minister Narendra Modi has left for a two-day visit to Bhutan. Ahead of his visit, Prime Minister said that India-Bhutan partnership today is of a special character and substance and forms an important pillar of Government of India’s Neighbourhood First policy.

He said, both countries jointly celebrated the Golden Jubilee of the establishment of formal diplomatic relations last year. He will inaugurate 720 megawatt Mangdechhu hydro-power project and release a commemorative stamp to mark the 50 years of Indo-Bhutan hydropower relations.

He will also inaugurate the Ground Station for South Asian Satellite and launch the first phase of RuPay Card and address the students of Royal University of Bhutan.

National Tribal Festival “Aadi Mahotsav” begins in Leh- Ladakh

Tribal Affairs Ministry and Tribal Cooperative Marketing Development Federation of India (TRIFED) are jointly organizing a 9 - Day Aadi Mahotsav (National Tribal Festival) begins in Leh- Ladakh.

AIR correspondent reports that with a theme of “A celebration of the spirit of Tribal Craft, Culture and Commerce” Adi Mahotsav will be inaugurated by the Governor of Jammu and Kashmir Mr. Satya Pal Malik. Union Minister for Tribal Affairs Arjun Munda,, MoS Smt Renuka Singh and TRIFED Chairman Shri R. C. Meena also be participating in the inaugural. 9 day Adi mahotsav will showcase traditional art and handicrafts and cultural heritage of the country.

Uttar Pradesh government to set up Atal Bihari Vajpayee residential schools for children of labourers

In Uttar Pradesh, state government will set up Atal Bihari Vajpayee residential schools for children of labourers in all 18 divisions of state. Chief Minister of state Yogi Adityanath announced many projects in state in remembrance of former prime minister Atal Bihari Vajpayee including a memorial in Bateshwar, the former prime minister's native village in Agra.

Announcing a number of projects named after the former prime minister, the Chief Minister said that a 25-foot-tall statue will be stalled at the Secretariat Lok Bhawan on Vajpayee's birth anniversary on December 25. He said that a 'Centre of Excellence' will be established in DAV college in kanpur where Atal ji had his education.

Assam gets its first ever CNG fuel station in Dibrugarh

Assam Chief Minister Sarbananda Sonowal inaugurated the first ever CNG fuel station of the state in Dibrugarh. Official sources said that, with the inauguration of this clean and green fuel station, it will reduce environmental pollution.

Our Correspondent reports that Mr. Sonowal has given much emphasis to make the state free from pollution. The source further said that, since the CNG is affordable fuel it will be cost effective for the users.

Rajasthan gets award at World Education Summit

Rajasthan has bagged the “best innovation and initiative leadership award” for its achievements in higher education in the World Education Summit-2019 held in New Delhi.

Minister of State for Higher Education Bhanwar Singh Bhati received the award at the 14th summit organised.

Hong Kong unveils $2.4 billion economic support package as protests weigh

Hong Kong's government announced an economic support package worth HK$19.1 billion ($2.44 billion) as escalating political protests and the prolonged Sino-U.S. trade war weigh heavily on the Asian financial centre.

Financial Secretary Paul Chan unveiled the plan at a news conference, after saying the government is expecting to lower its 2019 GDP growth forecast to 0%-1%, from the original 2-3%.

In another setback, US cuts $440 million financial aid to Pak

In another jolt to Pakistan, the United States slashed the aid to the cash-strapped nation by nearly USD 440 million, bringing down its commitment to just $4.1 billion.

The aid was disbursed under Pakistan Enhanced Partnership Agreement (PEPA) 2010. The US apprised Pakistan Prime Minister Imran Khan about its decision to cut aid three weeks before his planned visit to Washington.

Notably, the PEPA was signed in September 2010 to make operational the Kerry Lugar Berman (KLB) Act that was passed by the US Congress in October 2009 to disburse $7.5 billion to Pakistan over a period of 5 years.
Contemporary Economic Development

Government relaxes norms for shares with differential voting rights

The Ministry of Corporate Affairs has amended the provisions relating to the issue of shares with Differential Voting Rights (DVRs) provisions under the Companies Act.

Its objective is to enable promoters of Indian companies to retain control of their companies in their pursuit for growth and creation of long-term value for shareholders.

The key change brings in an enhancement in the previously existing cap of 26 per cent of the total post-issue paid-up equity share capital to a revised cap of 74 per cent of the total voting power.

Another key change brought about is the removal of the earlier requirement of distributable profits for 3 years for a company to be eligible to issue shares with Differential Voting Rights.

For the first time, ISRO invites private firms to build 5 PSLVs

In a major push for PM Narendra Modi’s Make-in-India initiative, the Indian Space Research Organisation (Isro) has finally invited Indian companies to build five Polar Satellite Launch Vehicles (PSLVs).

Confirming this, Isro chairman K Sivan told TOI: “At this moment we have called for an EOI (expression of interest), and it is not open for any foreign firm. Isro has been considering this for a while, and we think this will boost the Make-in-India initiative of the government.

This marks a major shift in the way Isro, now in its 50th year, has been working over the decades. According to a senior official from the Vikram Sarabhai Space Centre (VSSC) the cost of one fully integrated PSLV launch vehicle is Rs 200 crore. This means that the value of the deal Isro is offering private industry—to build five PSLVs—is at least Rs 1,000 crore.

India’s first space museum inaugurated in Hyderabad

With interest in space among public zooming up courtesy the successful flight of the Chandrayaan-2 mission to the moon, India’s first Space Science Museum opened in Hyderabad.

Located on the erstwhile Naubat Pahad in the centre of the city, it’s a collaborative effort between the Indian Space Research Organization (ISRO) and the B M Birla Science Centre.

Wrestler Bajrang Punia nominated for Rajiv Gandhi Khel Ratna Award

Asian and Commonwealth Games gold-medalist wrestler Bajrang Punia has been nominated for the country's highest sporting honour - the Rajiv Gandhi Khel Ratna award.

His name was finalised by a 12-member selection committee on the opening day of a two-day meeting. The panel comprises the likes of Bhaichung Bhutia and MC Mary Kom among others and is headed by Justice Mukundakam Sharma.

Bajrang had last year won the gold medal in the 65-kg freestyle event at the Asian Games held in Jakarta. He had also won the gold medal in the same category at the Gold Coast Commonwealth Games.

Bajrang is only the fourth wrestler to be finalised for the Khel Ratna award after Sushil Kumar, Yogeshwar Dutt and Sakshi Malik.

Renowned Bangladeshi novelist Rizia Rahman passes away

Renowned Bangladeshi novelist and the Ekushey Padak winning author Rizia Rahman passed away in Dhaka at the age of 79. Bong Theke Bangla, Rokter Okshor and Ghar-Bhanga-Ghar are among some of his more well-known novels.

She was born in Kolkata in 1939 and migrated to East Bengal after the partition. She received the Bangla Academy Literary Award in 1978 and was awarded Ekushey Padak this year. President Abdul Hamid and State Minister for Cultural Affairs KM Khalid expressed condolences at the death of Rizia Rahman.

Current Affairs Quiz - 17th August 2019

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