Current Affairs: Daily GK Update 05th May, 2017

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Cabinet approves New Central Sector Scheme – SAMPADA

i. The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its approval for restructuring the schemes of the Ministry of Food Processing Industries (MoFPI) under new Central Sector Scheme – SAMPADA (Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters) for the period 2016-20 coterminous with the 14th Finance Commission cycle.
ii. SAMPADA with an allocation of Rs. 6,000 crore is expected to leverage the investment of Rs. 31,400 crore will benefit 20 lakh farmers and generate 5,30,500 direct/ indirect employment in the country by the year 2019-20. The objective of SAMPADA is to supplement agriculture, modernize processing and decrease agri-waste.

Cabinet approves National Steel Policy 2017

i. The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for National Steel Policy (NSP) 2017. It seeks to enhance domestic steel consumption and ensure high-quality steel production and create a technologically advanced and globally competitive steel industry.
ii. The NSP 2017 aims to achieve 300 million tonnes of steel-making capacity by 2030.

Key features of the NSP 2017:

1. Create self-sufficiency in steel production by providing policy support & guidance to private manufacturers, MSME steel producers, CPSEs

2. Encourage adequate capacity additions,

3. Development of globally competitive steel manufacturing capabilities,

4. Cost-efficient production

5. Domestic availability of iron ore, coking coal & natural gas,

6. Facilitating foreign investment

7. Asset acquisitions of raw materials &
8. Enhancing the domestic steel demand.

India's 1st private small arms manufacturing unit opened in Madhya Pradesh

i. In order to Strengthen defence ties, India has opened its first private small arms manufacturing plant at Malanpur, Madhya Pradesh in a joint venture with Israel. ii. The plant has been set up as a joint venture Punj Lloyd Raksha Systems between Indian defence conglomerate Punj Lloyd and Israel Weapons Industries (IWI).
iii. This is the first opportunity for the country to get its own 'Made in India' small arms.

'South Asia Satellite' launched today- Important Points to Ponder

i. India has launched the Geosynchronous Satellite Launch Vehicle (GSLV-F09) carrying the GSAT-9 or the “South Asia” satellite.
ii. The satellite was lifted off from the Satish Dhawan Space Centre in Sriharikota in Andhra Pradesh.
iii. Nepal, Bhutan, Afghanistan, Maldives, Bangladesh and Sri Lanka agreed but Pakistan is not a part of the project that was initially christened the SAARC satellite.

Important Points of the Satellite-

The lift-off mass of GSLV-F09 is about 2,230 kg which includes the satellite and its launch vehicle.
The mainframe of the satellite is cuboid in shape, built around a central cylinder.
The mission lifespan is 12 years.
The satellite is meant for providing communication and disaster support and connectivities among the countries of South Asia region
All participating nations will have access to at least one transponder using which they can telecast their own programming.
Nepal, Bhutan, Afghanistan, Maldives, Bangladesh and Sri Lanka are the part of project
The satellite will provide communication channels between countries for better disaster management as the region is prone to natural disasters.

IBBI constitutes Technical Committee to lay down Technical Standards for the performance of core services

i. The Insolvency and Bankruptcy Board of India (IBBI) has constituted Technical Committee to lay down Technical Standards for the performance of core services and other services in accordance with Regulation 14 of the IBBI (Information Utilities) Regulations, 2017.
ii. The committee will be Chaired by Dr. R. B. Barman and the three members of the committee are Dr. Nand Lal Sarda, Dr. Pulak Ghosh and Sh. V. G. Kannan.
iii. The Committee shall give its recommendation specifically on the matters namely- the Application Programming Interface; standard terms of service; registration of users; unique identifier for each record and each user.

Madhya Pradesh Assembly declares Narmada living entity

i. The Madhya Pradesh government has passed a resolution granting river Narmada the status of a living entity and committed itself to the protection of its legal rights.
ii. A month ago, the Uttarakhand High Court had declared Ganga, Yamuna and their tributaries living entities with the status of a legal person.

Reliance, SAP launch 'SARAL GST' solution for taxpayers

i. Reliance Corporate IT Park Ltd. (RCITPL) has signed a Memorandum of Understanding (MoU) with enterprise application software major SAP SE to launch 'SARAL GST' solution for taxpayers.
ii. According to the subsidiary of Reliance Industries, the new offering will enable taxpayers to be GST compliant and smoothly access the government's GST System, once GST is rolled out from July 1, 2017.

Know About: The NABARD (Amendment) Bill, 2017

i. The National Bank for Agriculture and Rural Development (Amendment) Bill, 2017

Minister of Finance, Mr. Arun Jaitley in Lok Sabha on April 5, 2017. The Bill seeks to amend the National Bank for Agriculture and Rural Development Act, 1981. The 1981 Act provides for the establishment of the National Bank for Agriculture and Rural Development (NABARD). NABARD is responsible for providing and regulating facilities like credit for agricultural and industrial development in the rural areas.
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India break into top 100 of FIFA rankings for 1st time in 21 years

i. The Indian men’s national football team has made it into the top 100 of the FIFA (International Federation of Association Football) world football rankings for the first time in 21 years.
ii. This upward movement is the result of away wins against Myanmar and Cambodia.
iii. As per the updated rankings on May 4, India, with a total of 331 points, have climbed a spot and are now placed 100th.
iv. The last time India had been in the top 100 of the rankings was way back in 1996, with the 94th spot in February 1996 being the country’s best ever FIFA ranking.

Important Takeaways from above GK Update for Exams are as follows-

Cabinet has approved a New Central Sector Scheme – SAMPADA
Scheme for Agro-Marine Processing and Development of Agro-Processing Clusters is the full form of SAMPADA
The objective of SAMPADA is to supplement agriculture, modernize processing and decrease agri-waste
Cabinet has approved National Steel Policy 2017
It was chaired by Shri Narendra Modi
NSP 2017 aims to achieve 300 million tonnes of steel-making capacity by 2030
India's 1st private small arms manufacturing unit opened in Madhya Pradesh
It has been opened in a joint venture with Israel.
IBBI constitutes Technical Committee to lay down Technical Standards for the performance of core services
Insolvency and Bankruptcy Board of India is the full form of IBBI
Dr. M. S. Sahoo is the Chairman of IBBI
The committee will be Chaired by Dr. R. B. Barman.
Madhya Pradesh Assembly declares Narmada living entity
It provides all legal rights of a person to ensure 'Conservation of Aquatic Biodiversity linked with purity and continual flow of the River'
Uttarakhand has previously declared Ganga and Yamuna Rivers as living entities
Shivraj Singh Chouhan is the CM of MP.
Reliance, SAP launch 'SARAL GST' solution for taxpayers
The offering will enable taxpayers to be GST compliant and smoothly access the government's GST System.
The NABARD (Amendment) Bill, 2017 was introduced by Minister of Finance, Mr. Arun Jaitley.
NABARD came into existence on 12th July 1982.
NABARD was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05th November 1982.
NABARD Set up with an initial capital of Rs.100 crore.
NABARD was established on the recommendations of B.Sivaraman Committee.
B.Sivaraman former member of Planning Commission, Government of India.
NABARD has its head office at Mumbai, India.
Harsh Kumar Bhanwala is the Chairman of NABARD.
India reached into top 100 of FIFA rankings for 1st time in 21 years
Its current ranking is 100th
The best Indian ranking in FIFA was 94th in 1996
Gianni Infantino is the President of FIFA.