Current Affairs Updates - 11th May 2018
Current Affairs Updates - 11th May 2018 has some important headlines such as The 2018 World Robot Conference, Vice President Venkaiah Naidu and President of Panama signed two agreements, Ravi Shankar Prasad launches website of Digital India Internship Scheme and other similar news. All other news have been placed under different sections of National, International, Schemes, Banking and Events and Summits. Aspirants should go through each of these sections in details to have a better understanding of the topic. We hope aspirants would highly benefit from our website. You may also like the Static GK and Note Down Points along with the Daily Current Affairs Quiz.
Committees in News
The Fifteenth Finance Commission constituted an advisory council to advise and assist them on any issue or subject related to the Terms of Reference (ToR) of the Commission.
- This comes more than a month after objections were raised by several state finance ministers to the ToR prescribed by the Commission for allocation of funds to states, and usage of 2011 census data.
Banking, Economic & Financial Affairs
The International Monetary Fund (IMF) reaffirmed on Wednesday that India will be the fastest growing major economy in 2018, with a growth rate of 7.4 per cent that rises to 7.8 per cent in 2019 with medium-term prospects remaining positive.
- The IMF's Asia and Pacific Regional Economic Outlook report said that India was recovering from the effects of demonetisation and the introduction of the Goods and Services Tax and "the recovery is expected to be underpinned by a rebound from transitory shocks as well as robust private consumption."
Rankings & Indexes
With business sentiment at the "weakest" in four years, India slipped to the 6th position globally in the business optimism index for the first quarter of this year, says a survey whereas Austria tops.
- Business optimism is however at an "all-time high" globally with the index at net 61 per cent, the highest figure recorded in 15 years of research, as per Grant Thornton's quarterly global business survey released today.
In a major step towards realising the centre's smart city mission (SCM), the Madhya Pradesh government launched the country's first Integrated Control and Command Centre (ICCC) for all seven smart cities of the state in Bhopal.
- The ICCC, installed in a building in Barkheda area of the state capital, would enable the authorities to monitor the status of various smart civic amenities in real-time through the sensors connected to it.
TRAI Releases Draft of Telecom Interconnection Regulation
- The Indian telecom regulator on Tuesday released the draft amendment of telecommunication interconnection where it has set time-frame for provisioning of ports for initial interconnection and augmentation to be increased to a maximum 42 working days.
External Affairs Minister Sushma Swaraj called on Myanmar President U Win Myint soon after she arrived here for talks with the country's top leadership on key bilateral and regional issues, including the Rohingya refugee crisis.
- Swaraj is in Myanmar on a two-day visit for discussions on a number of bilateral and regional issues, including the situation in the Rakhine State from where lakhs of Rohingya Muslims have fled to Bangladesh
Leaders of China, Japan and South Korea meet to discuss North Korea’s nuclear weapons, free trade
- Japanese PM Shinzo Abe said his country would normalise ties with North Korea if the nuclear matter and that of the abduction of 13 citizens were resolved.
Science & Technology
China launches Gaofen-5 satellite to monitor air pollution
- China successfully launched a hyperspectral imaging satellite, Gaofen-5, for comprehensive observation of the atmosphere, including air pollution which is one of the country's major problems.
Application / Portal
Ravi Shankar Prasad launches website of Digital India Internship Scheme
- Prasad launched the website of Digital India Internship Scheme in New Delhi. Under this scheme, 25 interns will be inducted for a period of three months. Briefing media, the minister said, these interns will be paid a stipend of 10 thousand rupees per month. Mr Prasad complimented NIC who will take 10 interns separately.
Agreements/ MoUs Signed
Vice President Venkaiah Naidu and President of Panama signed two agreements on exemption of Visas for holders of Diplomatic and Official Passports and in the field of Agriculture.
- These agreements were signed in the presence of Vice President M Venkaiah Naidu and President of Panama Juan Carlos Varela Rodrigues and Vice President and Foreign Minister Isabel de Saint Malo de Alvarado in Panama city.
Summit /Conference / Events
The 2018 World Robot Conference will be held in Beijing from August 15 to 19.
- A robot competition will be held during the conference where participants will compete in five categories.
Information and Broadcasting Minister Smriti Irani inaugurates the 15th Asia Media Summit in New Delhi. Theme: 'Telling Our Stories – Asia and More.'
- Smriti Irani also said that soon India will have over 90 crore internet users and the statistics warrant the importance of having proper rules, ethics and laws in place to ensure there is no monopoly of one dominant player in the industry.
Awards & Honours: Miscellaneous
Nisha Bhalla conferred with 'WEF 2018' award
- Women Economic Forum is the largest global gathering of women entrepreneurs and leaders worldwide.
- The event was held at Vivanta by Taj, Dwarka in Delhi from April 26 to May 1.