GK Edu Wrap – 27th March 2015

National:

1. The Supreme Court of India stayed the decision of the Armed Forces Tribunal (AFT) to quash the Army’s promotion policy for the rank of Colonel from January 2009. The 2009 promotion policy of Army is based on Command Exit Model (CEM).

2. The Union Ministry of Finance sanctioned 250 crore rupees to Andhra Pradesh to set up Special Purpose Vehicle (SPV) for the implementation of the Polavaram Multi Purpose Irrigation Project. This amount is in addition to 100 crore rupees allotted for the project in the 2015-16 Union Budget.

3. The Union Ministry of Finance and the Asian Development Bank (ADB) signed a loan agreement for 300 million US dollars to improve road connectivity along the North Bengal-North Eastern (NB-NE) Region. The agreement was signed in New Delhi.

4. The Union Coal Minister Piyush Goyal launched the e-CPMP (Electronic Coal Projects Monitoring Portal) for tracking projects that entail an investment related to coal. The portal has been developed by National Informatics Centre (NIC). It is an institutional mechanism to automate the entire tracking of issues related to stalled projects from submission of a new project to commissioning on time.

5. Union Minister of State for Commerce and Industry Nirmala Sitharaman inaugurated a land customs station at the Indo-Myanmar border trade centre at Zokhawthar in Champhai district of Mizoram.

6. Delhi High Court (HC) became the first court in India to set up dedicated commercial courts within it to ensure speedy disposal of cases.

7. The Union Minister of State for Textile Santosh Kumar Gangwar announced a 430 crore rupees project for production of the Geo-textiles in the North Eastern region.

8. Union Ministry of Railways has constituted a Committee to review the existing Public Private Partnership (PPP) Cell in the Railway Board with former IAS officer Ajay Shankar as its head.

9. Prime Minister Narendra Modi and Nobel laureate Kailash Satyarthi have been named among the 50 greatest leaders in the world by Fortune magazine in its annual list of “extraordinary” men and women transforming business, government and philanthropy.

International:

1. Bangladesh has won the prestigious Women in Parliaments (WIP) Award for regional leadership in the South and Southeast Asia category for closing the gender gap in politics. The award was presented by WIP Global Forum at annual summit held in Addis Ababa, Ethiopia.

Awards:

1. Novel titled Family Life written by Akhil Sharma won the Folio Prize for fiction for the year 2015. The author took 13 years to write this book. Family Life is an autobiographical story of an immigrant family floundering in America.

Appointment:

1. Diplomat Vikas Swarup was appointed as an official spokesperson of the Ministry of External Affairs (MEA). Swarup, a 1986 batch Indian Foreign Service (IFS) officer, is also author of bestseller debut novel Q&A, on which the Oscar-winning film Slumdog Millionaire was based.

2. Kerala Finance Minister KM Mani was appointed as the Chairman of the Empowered Committee of State Finance Ministers on Goods and Services Tax (GST) by the Union Finance Ministry.

Economics:

1. The Reserve Bank of India (RBI) signed a 400 million US dollar currency swap agreement with the Central Bank of Sri Lanka. The agreement is valid for a period of three years from the date of signing.

2. TC Goyal, the Managing Director realty major DLF Limited, will retire on 31st March 2015. This was informed by the company in a filing to Bombay Stock Exchange (BSE).

3. American auto major Ford aims to triple exports from India over the next five years with its new USD 1 billion plant here becoming operational. The plant, the company’s second in the country, which was inaugurated by Gujarat Chief Minister Anandiben Patel, will also double its production capacity in India.

4. Honda Cars India announced an investment of Rs 380 crore on its second plant at Tapukara in Rajasthan to expand production capacity.

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