Daily Update On Current Affairs – September 12, 2017

Current Affairs

Here’s your daily summary of Current Affairs.

Government to launch “Project Insight” from October 2017    
The Union Government has decided to launch the Project Insight, in collaboration with L & T Infotech Ltd, to restrict black money holdings and transactions. The aim of the project is to observe and check high-value transactions and track tax evaders with the help of the technology. The project will use data mining and big data analytics technologies.
All women team of Indian Navy sets out to circumnavigate the globe   

On 10th Sept 2017, an all women team of the Indian Navy set out to circumnavigate the globe in their ship. They were flagged off by the Defence Minister Ms. Nirmala Seetharaman. The expedition called the “Navika Sagar Parikrama” is the first of its kind in India. The six member women crew is sailing on an India built ship INSV Tarini and is being commanded by Lt Commander Vartika Joshi. They are expected to complete the circumnavigation in 165 days. 
3rd Generation Anti-Tank Guided Missile “Nag” successfully test fired

The DRDO has successfully test fired the Anti-Tank Guided Missile “Nag” on the 9th of September 2017. The test fire was done from its facility in Rajasthan. The ATMG Nag missile is one of the five missile systems developed indigenously by DRDO, under the integrated guided missile development programme launched by the DRDO earlier this decade. The other missiles developed earlier under this programme are Agni, Akash, Trishul and Prithvi the Nag is a third generation missile
Jordan to grow crops using sea water

A new project was launched on 8th Sept 2017 by the Jordanian Government to grow crops using the sea water. The King of Jordan and the Crown Prince of Norway have contributed $3.7 million to the project. A solar powered plant desalinizes the sea water after which 130 tons of vegetables are expected to be grown. The facility is a part of the Sahara Forest Project (SFP) which is supported by Norway and the European Union.
IAU names two Pluto Mountains after Tenzing Norgay, Edmund Hillary

The International Astronomical Union (IAU) has named two mountains in the icy planet Pluto after the first conquerors of Mount Everest, Tenzing Norgay, the Sherpa and Edmund Hillary. These two names were amongst the 14 other names approved by the IAU for naming 14 geographical features in the icy dwarf planet of Pluto. This was done by the Working Group on the Planetary System.
Direct tax revenue grows 17.5% to Rs 2.24 lakh cr in Apr-Aug   
Direct Tax Collections has shown a growth of 17.5 percent up to August this year, standing at 2.24 lakh crore rupees which is 17.5 percent higher than the net collections for the same period, last year. This collection is 22.9 percent of the total Budget Estimates of Direct Taxes for the Financial Year 2017-18. In a series of tweets, Finance Ministry said, the growth rate for Corporate Income Tax (CIT) during the period is 5 percent while that for Personal Income Tax, it is 16 percent. However, after adjusting for refunds, the net growth in CIT collections is 18.1 percent while that in PIT collections, it is 16.5 percent. The Ministry also said, refunds worth over 74 thousand crore rupees were issued during April 2017 to August 2017 which is 7.2 percent lower than the refunds issued during the same period in 2016-17.
ICICI Lombard General Insurance and SBI Life Insurance get SEBI approval for IPO

ICICI Lombard General Insurance and SBI Life Insurance have received the approval from SEBI for their upcoming IPOs. While ICICI Lombard will come with an IPO of Rs 6000 Cr ( The first IPO by a General Insurance Company), the IPO of SBI Life Insurance will be for Rs 8400 Cr.

Best Law Teacher Award goes to Tahir Mohammed

The N.R. Madhava Menon Best Law Teacher Award is given to Tahir Mohammed this year. As part of the Law Teacher’s Day celebrations, a function was organized in which the award was announced. Amongst the institutions, the Mar Gregarious College of Law in Trivandrum won the Institutional Excellence Award.
Sathya Nadella announces his first Book “Hit Refresh”
The CEO of Microsoft. Sathya Nadella has written his first book “Hit Refresh”. The book includes the inside story of the company’s journey, his own personal moments and vision for the coming wave of intelligent technologies. The book goes on sale globally on the 26th of September and is available for pre order. Nadella has said that he will donate all the proceeds of the sale of the book to Microsoft philanthropies.
World Suicide Prevention Day – September 10th

The World Suicide Prevention Day was observed worldwide, on 10th September 2017. This is the 15th year of observation of this day. The theme for this year “Take a minute, Change a Life”. International Association for Suicide Prevention and the World Health Organisation play an important role in the observation of this day. New Government initiatives are launched on this day to prevent suicides.
First BAI Lifetime Award for Prakash Padukone   
The renowned Indian Badminton legend Prakash Padukone has been selected for the first life time award by Badminton Association of India. Announcing the award at Kochi, the Association President, Mr. Himantha Biswa Sarma said, Prakash Padukone has been selected for the award for his contribution to Badminton. The award carries a cash prize of 10 lakh rupees with a citation which will be presented to him at New Delhi very soon. Padukone had won the 1980 All England, besides bagging a bronze at the 1983 World Championship in Copenhagen. He also won a gold medal at the 1978 Commonwealth Games. He was bestowed with the Arjuna award in 1972 and the Padma Shri in 1982.
First ever World Senior Badminton Championship to be held in India begins

The World Senior Badminton Championship began at Kochi on 11th Sept 2017. In a glittering ceremony, Badminton Association of India, BAI President, Mr. Himanta Biswa Sarma formally inaugurated the week long Championship. A total of 665 players from forty countries in different groups are participating in the Championship. About 175 players are representing India including Olympians in the Championship. It is for the first time that India is hosting the Championship.
Current Affairs
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