Current Affairs – March 29, 2018

Current affairs banner March 29 2018 - Current Affairs – March 29, 2018

Fiscal deficit at 120% of revised estimates at February-end

1cc 28 - Current Affairs – March 29, 2018
India’s fiscal deficit soared to Rs 7.15 lakh crore at the end of February, exceeding the revised target of Rs 5.94 lakh crore for the entire 2017-18 fiscal. As per data released by the Controller General of Accounts (CGA), the fiscal deficit for April-February was 120 percent of the revised estimates on account of increased expenditure and subdued revenue receipts.
The monthly account till February-end revealed that the government has collected Rs 12.83 lakh crore revenue, which is 79.09 percent of revised estimates. Of this, over Rs. 10.35 lakh crore is collected from taxes, while over Rs 1.42 lakh crore and Rs 1.05 lakh crore accrued on account of non-tax revenue and non-debt capital receipts, respectively.

Number of enrolments in PMSBY increase from 8.85 crores in the year 2015-16 to 13.41 crore in 2017-18

2cc 28 - Current Affairs – March 29, 2018
The number of enrolments in Pradhan Mantri Suraksha Bima Yojana (PMSBY) has increased from 8.85 crores in 2015-16 to 13.41 crore in 2017-18 through auto-debit under the scheme. The Pradhan Mantri Suraksha Bima Yojana (PMSBY) was launched on 9th May 2015. The scheme provides a cover of Rs. Two Lakh for accidental death or total permanent disability and Rs One Lakh in case of permanent partial disability. The coverage period under this scheme is 1st June of each year to 31st May of the subsequent year.
The scheme is offered/ administered through both public and private sector general insurance companies, in tie-up with scheduled commercial banks, Regional Rural Banks, and Cooperative Banks. PMSBY offers a renewable one-year accidental death cum disability cover to all subscribing bank account holders in the age group of 18 to 70 years for a premium of Rs.12/- per annum per subscriber to be auto-debited from subscriber’s bank account.

Govt to sell 76% stake in Air India as part of the disinvestment

3cc 28 - Current Affairs – March 29, 2018
The government unveiled plans to sell up to 76 percent stake in Air India and transfer the management control to private players, starting the ambitious strategic disinvestment process for the debt-laden national carrier. Coming out with a detailed preliminary information memorandum on the stake sale, the Civil Aviation Ministry said the proposed disinvestment would include profit-making Air India Express and joint venture AIATSL. The latter is an equal joint venture between the national carrier and Singapore-based SATS Ltd. While the government would retain 26 percent stake in the national carrier, the winning bidder would be required to stay invested in the airline for at least three years.

Cabinet approves MoU between India and Zambia in the field of Judicial Cooperation

4cc 28 - Current Affairs – March 29, 2018
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of the Memorandum of Understanding (MoU) between India and Zambia in the field of Judicial Cooperation. During recent years, social, cultural and commercial relations between India and Zambia have developed in the positive direction. The signing of an agreement on cooperation in the field of justice will further enhance good relations between the two countries and add new dimensions in the field of judicial reforms.

Cabinet approves MoU between India and Canada on IPRs

5cc 28 - Current Affairs – March 29, 2018
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post approval for the Memorandum of Understanding (MoU) between India and Canada. The MoU was signed on 23rd February 2018 to establish bilateral cooperation activities in the field of Intellectual Property (IP).
The MoU is intended to promote innovation, creativity and economic growth in both countries. The MoU establishes a broad and flexible framework through which both countries can exchange best practices and work together on training programs and technical exchanges to raise awareness on IPRs and better protect intellectual property rights (IPRs).

Small savings interest rates remain unchanged for April-June quarter

6cc 28 - Current Affairs – March 29, 2018
The government on 28th March decided not to tinker with the interest rates on small savings schemes, including NSC and PPF, for the April-June quarter. The move is aimed at matching the hardening interest rates in the banking sector.
“On the basis of the decision of the government, interest rates for small savings schemes are to be notified on a quarterly basis,” the Finance Ministry said while notifying the rates for the first quarter of the financial year 2018-19. “Accordingly, the rates of interest on various small savings schemes for the first quarter of the financial year 2018-19 starting April 1, 2018, shall remain unchanged from those notified for the fourth quarter of the financial year 2017-18,” it said.
Current interest rates on small savings schemes:
Senior Citizens Savings Scheme – 8.3%
savings deposits – 4%
Public Provident Fund (PPF) – 7.6%
National Savings Certificate (NSC) – 7.6%
Kisan Vikas Patra (KVP) – 7.3%
Sukanya Samriddhi Account – 8.1%

Jr World Cup: Muskan Bhanwala wins 25m pistol gold; India bag fourth individual gold

7cc 28 - Current Affairs – March 29, 2018
The final competition day at the ISSF Junior World Cup in Sydney opened with another gold awarded to the Indian National Team, as Muskan Bhanwala secured the gold medal in the 25m Pistol Women Junior event. The Indian youngster bested People’s Republic of China’s Qin Sihang and Thailand’s Kanyakorn Hirunphoem, who respectively took silver and bronze in the 25m Pistol Women Junior final, the second-to-last event of the ISSF Junior World Cup.
Bhanwala — who placed 4th at last year’s ISSF Junior World Championship in Suh, Germany — took the lead at the end of the sixth round, when she nailed a perfect 5-hit series and found herself sitting on a 3-point advantage over her closest rival, People’s Republic of China’s Qin Sihang (16).

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