Current Affairs Current Affairs July 2018

 Senior bureaucrat Saraswati Prasad has taken over the additional charge as chairman and managing director of steel PSU Steel Authority of India Limited (SAIL).  Mr Prasad succeeds P K Singh who retired recently.
Source- The Moneycontrol

 The Agriculture and Farmers’ Welfare Minister Radha Mohan Singh has notified the "National Policy on Marine Fisheries, 2017", which will guide the development of marine fisheries sector for the next 10 years. It was announced at the inter-session meeting of the consultative committee of the Ministry of Agriculture and Farmers’ Welfare on “Marine Fisheries-Mariculture in India” in Rameswaram, Tamil Nadu. The government has also included a sub-component namely, 'Assistance for Deep-Sea Fishing' under 'Blue-Revolution'. Under this scheme, traditional fishermen, their associations/organizations or self-help groups are provided with central financial assistance upto 50% of the cost of the vessels i.e. Rs 40 lakh for 'Deep-Sea Fishing Vessels'.
Source- Press Information Bureau (PIB)

 Numaligarh Refinery Ltd (NRL) in Assam became first oil public sector undertaking (PSU) in India to adopt an online legal compliance system by introducing ‘Legatrix‘. This initiative aims to induce greater transparency NRL’s operations and augment its contribution towards Digital India Mission of the Government.
  • Legatrix
Legatrix is cloud-based compliance management system to serve as onestop solution for effectively managing organisations legal and regulatory compliances through monitoring control at different levels. It encompasses requirements of laws like labour, IT, taxation, commercial, export-import, corporate laws and other industry-specific laws. It will support risk tracking and compliance on real-time basis along with creation of centralised repository, auto-generated reports and certificates, compliance calendar and immediate updates for legal and regulatory amendments.
  • Numaligarh Refinery Limited (NRL)
NRL is public sector oil company in Assam. It is under administrative control of Union Ministry of Petroleum & Natural Gas. It is located at Morangi, Golaghat district, Assam in India. It is joint venture between Bharat Petroleum (61.65%), Oil India (26%) and Government of Assam (12.35%). It has capacity of 3 million metric tonnes (mmt) per year.

 Major General VD Dogra became the first serving Indian Army officer and the only General across the world to have completed a gruelling ‘Ironman’ competition held in Austria. The Ironman is an international triathlon consisting of three consecutive events- 3.8 km of swimming, 180 km cycling and 42.2 km of running (a full marathon). It is considered the toughest one-day sporting event in the world. The competitors have to complete the events in sequence within 17 hours to earn the title of ‘Ironman’. Maj Gen Dogra completed the event in 14 hours and 21 minutes. 
Source- The Economic Times

 The Delhi government launched 'Happiness Curriculum' for school students up to class 8. The Dalai Lama, Delhi Chief Minister Arvind Kejriwal and Deputy Chief Minister and education department in-charge Manish Sisodia were present at the occasion. The 'Happiness Curriculum' was termed as the third stage of reforms in the education sector initiated by his government after infrastructure development and motivation of teachers at the government schools.
Source- The Hindu

  Red Bull’s Max Verstappen won the Austrian Grand Prix 2018 title in Austria. Ferrari’s Kimi Raikkonen finished in the second spot.  Ferrari’s Sebastian Vettel finished in the third spot. Mercedes’ Lewis Hamilton retired from the race due to a mechanical issue in his car.
Source- BBC News

 Australian captain Aaron Finch slammed 172(76) against Zimbabwe to register the highest-ever individual score in T20Is, overtaking his own record of 156 runs. The 31-year-old opener smashed 10 sixes and 16 fours in his knock before getting out hit-wicket. Finch and D'Arcy Short shared a 223-run opening stand, which is the highest-ever partnership for any wicket in T20Is.
Source- NDTV News

 The Union Government has constituted 13-member Committee for Sub-National Accounts to upgrade the norms for computation of economic data at states and districts level in backdrop of plans to revise the base year for National Accounts or Gross Domestic Production (GDP) calculation. It will be headed by Ravindra H Dholakia, a retired professor of IIM Ahmedabad.
  • Terms of Reference of the Committee
The committee will review concepts, definitions, classifications, data conventions, data sources and data requirements for preparation of State Domestic Product (SDP) and District Domestic Product (DDP) and to lay down revised guidelines. It will also suggest measures for improving SDP and DDP in the country taking into consideration availability of data and requirements of Centre and States/UTs. It will also suggest state level annual and benchmark surveys keeping in view needs of System of National Accounts especially in view of next base year revision. It will submit its report within one year.
  • Background
The Central Statistics Office (CSO), under Ministry of Statistics and Programme Implementation (MOSPI) revises the base year of macroeconomic indicators, as regular exercise, to capture structural changes in economy and improve quality and representativeness of indices. CSO had last updated base year for GDP calculation to 2011-12 from January 2015, replacing old series base year of 2004-05. MOSPI is planning to change base year to 2017-18 for calculation of GDP and Index Industrial Production (IIP) numbers from current 2011-12 with an aim to capture changes in the economy. At conference of central and state statistical organisations (COCSSO) earlier this year, it was suggested that same principles and concepts should be used while calculating SDP and DDP across the country to make data comparable.

 Former captains Rahul Dravid of India, Ricky Ponting of Australia and retired England Women wicketkeeper-batter Claire Taylor were inducted into the ICC Cricket Hall of Fame 2018 during a glitteringceremony in Dublin, Ireland. Former Team India captain Rahul Dravid has become the fifth Indian cricketer after Anil Kumble, Sunil Gavaskar, Bishan Singh Bedi and Kapil Dev to be inducted into the ICC Hall of Fame. The 45-year-old scored 24,208 runs in 509 international matches in his nearly 16-year-long playing career. As many as 87 cricketers are a part of ICC Hall of Fame.
Source- ICC

 In the summit clash of the 37th and final edition of the  Hockey Champions Trophy at Breda, the Netherlands, India lost to defending champions Australia via penalty shoot-off. The match went into the shoot-off after both the teams were locked at 1-1 in regulation time. It was Australia's record 15th Champions Trophy title. While India won their second consecutive silver medal, hosts the Netherlands bagged the bronze medal.
Source- AIR World Service


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