Madhya Pradesh Signs MoU with IIT-Kharagpur for Developing Happiness Index

IIT Kharagpur’s Rekhi Centre of Excellence for the Science of Happiness and Madhya Pradesh government’s ‘Rajya Anandam Sansthan’ (Department of Happiness) has signed an MoU to collaborate on the development of a Happiness Index for measuring the well-being of the residents of the state. The MoU was signed in the presence of MP Chief Minister Shivraj Singh Chouhan and IIT-KGP Director Prof P P Chakrabarti at Bhopal.

World’s First Philosophical Novel on God Unveiled IAS officer

Haulianlal Guite has recently published a philosophical novel for God titled ‚Confessions of a dying mind: the blind faith of atheism‚. The book was unveiled by Union Minister Kiren Rijiju at august gathering of Civil Services Officers’ Institute in New Delhi. The book is touted as ‚the world’s first philosophical novel for God‚. Haulianlal Guite is hailed as the first civil servant to write on Philosophy after John Stuart Mill’s work titled ‚On Liberty‛ published in 1858. The book explores interesting arguments against atheism. It also explores the nature of science, religion, evidence and love in light of latest findings of modern science and the solid theories in philosophy. The unveiled book is the first part of the three volumes. The book is published by a UK based Bloomsbury Publishing.

PM Inaugurates African Development Bank’s 52nd Annual General Meeting

Prime Minister Narendra Modi has inaugurated the 52nd Annual General Meeting of the African Development Bank in Gandhinagar. The AGM will be held in from May 22-26. This is the first time that India is hosting the annual meetings of the AfDB and its sister institutions, including of finance ministers of member countries, who comprise the AfDB board of governors. India had joined the African Development Bank (AfDB) in 1983. The Annual Meetings are the Bank’s largest annual event and offers a unique forum for representatives of government, business, civil society, think-tanks, academia and the media to debate key issues on Africa’s development. The event will see the participation of 4500 delegates including finance ministers and central bank governors belonging to AfDB’s 54 member countries and 26 non-member countries. The event is expected to deepen India’s ties with African continent.

Paytm Launches Payments Bank

Paytm has rolled out its Payments Bank operations by launching its first physical branch in Noida. With this launch, there are three payments bank operational in the country, the other two being Airtel Payments Bank Ltd and India Post Payments Bank Ltd. The Paytm Payments Bank will be the first bank in the country to offer cashbacks on deposits. Significance :As a Payments Bank, Paytm will be able to accept deposits upto Rs 1 lakh per customer in wallet and savings/current accounts. Further it can also offer other services like Debit Cards, Online Banking and Mobile Banking. It will not be allowed to lend to customers. However, it will be able to offer financial products like loans, insurance, mutual funds, pension funds etc by partnering with other financial institutions and banks.

India soon to become the second largest producer of steel in the world

Steel Minister Birender Singh said India has registered a 102 percent growth in steel exports in 2016-2017. Addressing a press conference on the 3-year achievements of his ministry in New Delhi today, Mr Singh said, the country has become net exporter of steel, with 8.2 million tonnes of exports in 2016-2017. “We have become the second largest producer of stainless steel in the world, leaving behind Japan. Besides, we have gained third spot in steel production, leaving behind America. We are moving fast to reach the 2nd position.” The Minister said, the government led by Prime Minister Narendra Modi gave its approval for National Steel Policy this month, after a gap of 12 years. Mr Singh said, GST will give a big boost to steel industry.

IMD predicts normal monsoon this year

The India Meteorological Department (IMD) has predicted the onset of the monsoon in Kerala on the 30th of this month but there is a possibility that it may hit the state a day before that. With chances of continuation of the El Nino effect, a phenomena associated with warming of Pacific waters, the IMD has predicted a normal monsoon this year.

Trump admin proposes to reduce 190 million Dollar in financial grant to Pakistan

In US, the Trump administration has proposed to reduce 190 million US Dollar in financial grant to Pakistan in foreign military funding as compared to the 2016 fiscal. This Year, the US administration has proposed 344 million US Dollar in financial assistance to Pakistan including 100 million US Dollar in foreign military funding. Last year, the US assistance to Pakistan under the State Department budget was 534 million US Dollar, which included 225 million US Dollar towards foreign military funding. The Trump administration’s budget proposal would convert some of the United States’ foreign military grants to loans, affecting several countries, including Pakistan. The White House said yesterday that the proposals are a part of a larger effort to slash spending on diplomacy, aid and programmes abroad by more than 29 per cent. The Wall Street Journal, which first reported the proposal, said the foreign military grants could affect Pakistan, Tunisia, Lebanon, Ukraine, Colombia, the Philippines and Vietnam.

World’s largest aircraft Airlander 10 completes test flight

The world’s largest aircraft has successfully completed a test flight, bringing the massive heliumfilled airship one step closer to commercial use. The hybrid aircraft dubbed the Airlander 10 combines technology from airplanes, helicopters and airships. It is designed to fly at altitudes of 6,100 meters for up to five days. with a length of 92 metres, it is the largest aircraft currently flying. On May 10th, the Airlander 10 flew for a total of 180 minutes to test the aircraft’s handling, improved landing technology and more. Dave Burns, Airlander 10’s Chief Test Pilot said that during the successful test flight in Cardington, UK, the Airlander 10 handled superbly.

Australian indigenous leaders meet for historic summit

In central Australia, hundreds of indigenous leaders have gathered for a historic summit on formally recognising the country’s first inhabitants. The three-day summit at Uluru coincides with the 50th anniversary of a vote that allowed indigenous Australians to be included on a national census. Australia does not mention Aboriginal and Torres Strait Islander peoples in its constitution. The summit aims to reach consensus on the best method of recognition. The recommendations may result in a referendum to be voted on by all Australians.

Terror Attack in Manchester City leaves 22 killed and 59 injured

The Islamic State terrorist group has claimed responsibility for today’s deadly attack at the Manchester Arena which claimed 22 lives and injured 59 people. The attacker died while detonating the explosive device planted at a pop concert. The blast took place in the foyer area of Manchester Arena around 3 AM Indian time today. Manchester Victoria station has been closed and all trains cancelled. British police have arrested a 23-year-old man in connection with the terror attack. After chairing a meeting in the wake of the blast, British Prime Minister Theresa May said the people of Manchester have fallen victim to a callous terrorist attack. This was among the worst terrorist incidents we have ever experienced in the United Kingdom. It would take some time to establish these jact and the investigation will continue. We can continue to resolve to thwart such acts in future, to take on and defeat the idealogy that often fuels this violence and if there turn out to be others responsible for this attack, to seek them out and bring them to justice. Official sources in New Delhi said they are ascertaining if there are any Indian casualties in the blast. The Indian High Commission tweeted, any Indians injured during Manchester attack may reach the Public Response Unit of High Commission of India at 020 7632 3035. President Pranab Mukherjee, Vice President Mohammad Hamid Ansari and Prime Minister Narendra Modi have strongly condemned the attack.

Roger Moore of James Bond fame dies

Roger Moore, the handsome English actor who appeared in seven films as James Bond and as Simon Templar on “The Saint” TV series, has died in Switzerland after a short battle with cancer. He was 89. His family announced the death on Moore’s official Twitter account

High speed Tejas Express to be flagged off on 22nd May

The high speed, air-conditioned Tejas Express will be flagged off on 22nd May from Mumbai to Goa. Railway Minister Suresh Prabhu will flag off the premium luxury train through video conferencing. Having ultra-modern amenities like LED TV, wi-fi and CCTV, Tejas Express is a state of the art train capable of running at 200 kms per hour. However, due to constraints related to rail tracks, it will run at a speed of 160 kilometres per hour. The train will operate five days a week during non-monsoon period, and three days a week during monsoon period.

GST implementation won’t jeopardise Mumbai security: Maharashtra Finance Minister

The Maharashtra government has sought to discard fears that the GST roll-out would undermine Mumbai’s security because the vehicles entering the city will not have to stop and face checks at borders after abolition of octroi Maharashtra Finance Minister Sudhir Mungantiwar stated that the vehicles entering the city will still be under watch and the government would take new steps to beef up the security. The minister was speaking during a discussion in the Lower House on Sunday on the second day of the three-day special session convened to pave way for the country-wide implementation of the GST from July 1. Mungantiwar said that the government will pay special attention to Mumbai’s security. He added that new measures to boost the city’s security will be undertaken. Leader of opposition in assembly Radhakrishna Vikhe Patil said the government should tread carefully while implementing the GST.

Anshu Jamsenpa conquers Mount Everest twice within five days: A record

Anshu Jamsenpa from Arunachal Pradesh has created history by becoming the first woman to conquer Mount Everest twice within five days. She along with Nepalease climber Furi Sherpa scaled the Everest at 8 am on 21st May 2017. Anshu also stood atop of the world’s highest mountain on Tuesday. Anshu also become the first Indian women to reach Mt Everest for the fifth time. She successfully climbed Mt Everest twice in 2011 and later in 2013. India’s Dhankude Kishor Dattatraya, Brij Mohan Sharma and Ravi Kumar also successfully conquered Mt. Everest on Saturday. But Ravi Kumar is missing after he was descending to lower camps. Rescue and search efforts are on. Meanwhile an American and Australian climber died today while they were trying to scale roof of the world.

Inflation to fall by 2% after possible initial rise following implementation of GST: Govt

Revenue Secretary Hasmukh Adhia has said, Inflation will fall by two per cent on implementation of the goods and services tax, GST, and will create buoyancy in the economy. In an interview to PTI, he said the allpowerful GST Council will meet next week to decide on tax rates of contentious items like gold, bidi and biscuits, just in time for its rollout from July 1. Mr Adhia also expressed confidence that the requirement of compensation to make up for revenue loss of any state will be fulfilled from cess on demerit and luxury goods like car and tobacco. With the stage set for the biggest overhaul of India’s tax system since Independence, the government will launch a massive awareness campaign to educate consumers about GST so that they are not fleeced by traders in the name of new tax. The Council over the two days last week assigned tax rates to more than 500 services and 1,200 goods by setting them in five broad rates of 5, 12, 18 and 28 per cent. GST will be a single nation-wide sales tax replacing a string of central and state levies.

India’s export sector performs well despite global slowdown: Nirmala Sitharaman

Commerce and Industry Minister Nirmala Sitharaman has said, India’s export sector has performed well despite the global slowdown. Addressing a press conference in New Delhi on key initiatives taken by her Ministry during the last three years, Ms Sitharaman said, notwithstanding global headwinds, exports have shone in last 6 months. Ms Sitharaman said, number of mandatory documents required for exports and imports have been reduced to three each. The Minister said, forms related to imports and exports have also been simplified. The Minister said, Government e-Market place is a remarkable step towards fighting corruption and ensuring transparency in Government transaction. She said, there is an increase in exports from special economic zone in the last three years. Exports were valued at 5.23 lakh crore rupees in 2016-17.

UNSC to hold meeting on 23rd May in response to North Korea’s missile test

The United Nations Security Council will hold an emergency meeting on 23rd May in response to yesterday’s ballistic missile test by North Korea. Uruguay’s mission to the UN said, the meeting was requested by the United States, South Korea and Japan. South Korean military said, the missile was fired from South Pyeongan province and flew about 500 kilometers before landing in the Sea of Japan. It was Pyongyang’s second missile test in a week and 10th this year. North Korea had termed the launch of its medium-range ballistic missile as successful.

Euro zone, IMF to seek compromise on Greek debt deal on 22nd May

Euro zone Finance Ministers and the International Monetary Fund will seek a deal today on Greek debt relief. Without the deal, no new loans can be disbursed to Athens, even though the bailout is now handled only by euro zone governments. Greece needs new credit to repay some 7.3 billion euros worth of maturing loans in July. Greece has agreed after months of negotiations, with the euro zone lenders and the IMF on pensions and tax reforms.

Swiss people vote for renewable energy against nuclear power

In Switzerland, voters have supported a referendum to withdraw the country from nuclear power in favour of renewable energy. Today’s referendum shows 58 per cent of voters in favor and 42 percent against the proposal. The Swiss government wants to ban the construction of new nuclear power plants and decommission the country’s five existing ones at the end of their technically safe operating lives. The plan would also boost renewable energies such as solar and wind and make cars and electronic devices more energy efficient.

Mumbai Indians win IPL title for third time In Cricket

Mumbai Indians lifted the Indian Premier League trophy for the third time, as they recorded a scintillating 1-run win against Rising Pune Supergiant in the title clash at Hyderabad last night. Opting to bat, Mumbai had posted a modest 129 for 8, with Krunal Pandya top scoring with 47. In reply, Pune got off to a decent start and were 71 for 2 in 12 overs. They needed 11 runs from the last over with 7 wickets in hand, before Mumbai paceman Mitchell Johnson took the wickets of Manoj Tiwary and Steven Smith on successive deliveries. Pune, then, needed 4 runs from the final ball. But, their hopes of winning the IPL title in the maiden Final appearance were dashed to the ground as Daniel Christian was run out and Mumbai won the match by 1 run. Johnson finished with 3 wickets.

Bengaluru FC wins 38th Federation Cup football tournament

Bengaluru FC has won the Federation Cup Football tournament. In the Final played at Cuttack last night, they defeated defending champions and 14-time winners Mohun Bagan, 2-nil. The match went into extra time after neither of the teams could break the deadlock in 90 minutes. India international CK Vineeth, then, scored twice for Bengaluru in extra time helping them to win the tournament for just the second time. With the win, Bengaluru also sealed a berth for next year’s Asian Football Confederation (AFC) Cup. It also became the eighth team to have won more than one Federation Cup title.

GST Council Announces GST Rates

The GST Council headed by finance Minister Arun Jaitley has finalised tax rates and has approved all the seven rules for the GST regime that is scheduled to be implemented from July 1. The remaining two rules of the GST pertaining to transition and return is under the examination of the legal committee. In total, the council has fixed the rates of 1211 items. It will decide rates of some other items and services in the coming days. Salient Highlights Out of 1211 items, 81% of the items will attract tax of 18% or less. Only the remaining 19% of items will attract a highest rate of 28% Household items like Sugar, Tea, Coffee and edible oil will attract 5% levy. Cereals and milk will be exempted from the tax. Manufactured goods will attract 18% levy. Luxury cars will attract 28% GST in addition to a cess of 15%. Small petrol cars will attract 28% GST plus a 1% cess, and diesel cars will be taxed at 28% plus 3% cess. Capital goods, a key asset for the manufacturing sector, will be taxed at 28%. Aerated drinks will fall under the 28% tax bracket.

Bilateral Exercise SIMBEX-17 between Indian & Republic Of Singapore Navy Commences

The 24th bilateral exercise involving Indian Navy and Republic of Singapore Navy has commenced in South China Sea. SIMBEX stands for ‚Singapore-India Maritime Bilateral Exercises”. The exercise will be held from May 18, 2017 to May 24, 2017. This edition of the bilateral exercise aims at increasing the interoperability among the two navies as well as developing a common understanding and procedures among the two navies for maritime security operations. The major thrust of the exercise will lie on AntiSubmarine Operations (ASN), integrated operations with Surface, Air and Sub-surface Forces, Air Defence and Surface Encounter Exercises.

Indian Scientist Shrinivas Kulkarni Wins Prestigious Dan David Prize

Indian scientist Shrinivas Kulkarni has won the prestigious Dan David prize as a recognition for his contributions made in the field of astronomy. Shrinivas Kulkarni, a professor of astrophysics and planetary science at California Institute of Technology in Pasadena, is a pioneer in the field of timedomain astrophysics. He has been credited for building and conducting the Palomar Transient Factory, which is a large-area survey of the night sky that has turned up with thousands of stellar explosions. Shrinivas kulkarni would share the award with Andrej Udalski of the University of Warsaw and Neil Gehrels of NASA for their discoveries on time-domain astrophysics in the ‚Future‛ category of the prize. With this award, Shrinivas Kulkarni will join other prominent Indians who have won the Dan David prize like noted author Amitav Ghosh, music conductor Zubin Mehta and renowned chemist CNR Rao.

Indian Army gets its First Artillery Gun in 30 Years

Nearly after 30 years after the induction of Bofors howitzers, Indian Army will get its first artillery guns called M777 from BAE Systems. Swedish Bofors guns were inducted in late 1980s after which Army has not inducted any modern artillery guns. The two M777s has arrived in New Delhi and will be tested at the Pokhran field firing range in Rajasthan. The two M777 guns will be used for compilation of firing tables. Indian Army has plans to equip 169 regiments with 3,503 guns by 2020.

International Court of Justice directs Pakistan to stay Kulbhushan Jadhav’s execution till its final verdict

The International Court of Justice at Hague today stayed the execution of Indian national Kulbhushan Jadhav who was sentenced to death by a Pakistan military court on charges of espionage. Ruling in favor of India, which moved the UN’s highest judicial body against the death sentence, the ICJ President Ronny Abraham directed Pakistan to take all necessary measures at its disposal to ensure that Jadhav was not executed till it takes a final decision.

Tata Group Named Country’s Most Valuable Brand in Brand Finance List

Brand finance in its 2017 report that lists India’s 100 most valuable brands has named Tata Group as the most valuable brand in India at an estimated brand value of 13.1 billion. Brand Finance is a global brand valuation and strategy consultancy firm. Tata Group has managed to top the list despite its brand value declining 4% from 13.7 billion in 2016. As per the report, the total brand value of India’s top 100 brands have surged 15% in 2017 compared to the global average of 11%. Overall 68 of India’s 100 most valuable brands have registered growth in value this year. Telecom operator Airtel at an estimated valuation of 7.7 billion has been ranked second in the list followed by Life Insurance Corporation of India (LIC) with 6.8 billion. IT firm Infosys and State Bank of India have been ranked fourth and fifth in the list with an estimated value of 6.2 billion and 5.5 billion respectively.

BSNL Signs MoU with Facebook and MobiKwik

BSNL has inked agreements with Facebook and MobiKwik in order to popularize the internet and its value added services among its customers. Further, BSNL has also signed a third MoU with Disney Land India to offer premium online gaming services to its mobile customers. The series of MoUs signed by BSNL comes at the backdrop of a stiff competition faced by BSNL from private telecom companies like Airtel and Reliance Jio.

Anti-dumping duty imposed on Chinese chemical, aluminium foil

India has imposed anti-dumping duty on a Chinese chemical used in pharma industry and aluminium foil to protect domestic industry from cheap imports. While an anti-dumping duty of up to 1.63 US Dollar per kg was imposed on aluminium foil, up to 8.71 US Dollar per kg duty was slapped on imports of amoxicillin, used in pharmaceuticals. The duty on both the products would be effective for a period of five years, the finance ministry has said in separate notifications. The commerce ministry’s investigation arm, Directorate General of Anti dumping and Allied Duties, DGAD in the separate probe had concluded that these products were dumped into India and that has caused material injury to the domestic industry.

Key Asian stocks fall amid concern about political developments in US

Key Asian stocks fell, today, amid concern about political developments in the US. Key Asian markets also lost ground. So Japan’s Nikkei 225 index slipped 1.3 percent; Singapore’s Straits Times index lost 0.1 percent; South Korea’s Kospi dropped 0.3 percent, each; China’s Shanghai Composite index declined 0.5 percent; and Hong Kong’s Hang Seng index shed 0.6 percent. In Europe, the UK’s FTSE-100 had tumbled 1.4 percent, Germany’s DAX had lost 0.9 percent, and France’s CAC-40 had slumped 1.2 percent in intra-day trade. While stocks flashed warning lights again, the dollar steadied and seemed to be going for the ‘calm down’ option.

US Justice Department names former FBI Director Robert Mueller as a special prosecutor to probe possible collusion between President Trump and Russia

In the United States, the Justice Department has named former FBI director Robert Mueller as a special prosecutor to oversee a probe into Russia’s alleged interference in the Presidential election. Deputy Attorney General Rod Rosenstein said it is in the public interest to bring an outsider to oversee the investigation. Calls for a special prosecutor to probe the matter have risen since President Donald Trump fired the FBI Director James Comey last week.

Environment Minister Anil Madhav Dave Passes Away

Union environment minister Anil Madhav Dave has passed away. He was 60. Anil Madhav Dave was born in Badnagar of Madhya Pradesh on July 6, 1956. He is a Member of Parliament representing Madhya Pradesh. Dave was first elected to Rajya Sabha in 2009. Last year, he was sworn in as a minister with independent charge of environment, forest and climate change. He was very passionate on implementing environmental projects including conservation of the Narmada river. He had also founded an organisation called ‘Narmada Samagra’ for conservation of Narmada.

Veteran film actor Reema Lagoo dies after a cardiac arrest in Mumbai Veteran film actor Reema Lagoo died in Mumbai this morning after a cardiac arrest. She was 59. She is survived by a daughter. Reema had complained of chest pain last night and was rushed to hospital where she breathed her last. “Over the course of her career, Reema Lagoo became Hindi film industry’s favourite actor who played the mother’s role to the biggest stars in the industry like Salman Khan ( in Maine Pyar Kiya), Akshay Kumar (in Gumrah and Yeh Dillagi), Sridevi (in Jai Kishen), Madhuri Dixit (in Hum Aapke Hain Koun..!), Juhi Chawla (in Qyamaat se Qayamat tak), Sanjay Dutt (in Vaastav) and Shah Rukh Khan (Kal Ho Na Ho). Her other popular films include Aashiqui, Kuch Kuch hota hain, Saajan and Hum Saath Saath hain. She was critically acclaimed for her acting in Rui Ka Bojh (1997).

International News Affairs

• African country Botswana is going to use India-manufactured Electronic Voting Machines (EVMs)with the voter verifiable paper audit trail for its 2019 general elections.
  • The commission has also invited professional hackers to hack an Indian EVM to test its reliability amid claims that they can be rigged.

MOUs & Agreements

• India and Palestine today signed 5 agreements during the 4 day visit of Palestinian President Mahmoud Abbas to India.
  • They are :
    • MOU on agriculture cooperation
    • MOU on visa exemption for diplomatic passport holder,
    • MOU on cooperation in field of IT & Electronics
    • MOU on health sector
    • MOU on cooperation in the field of youth affairs and sports
  • Indian Navy and the Space Application Centre have signed a Memorandum of Understanding (MOU) on Data Sharing and Scientific cooperation in the field of Meteorologyand Oceanology.

Science & Technology

• ISRO is going to launch its most powerful rocket, the Geosynchronous Satellite Launch Vehicle (GSLV) Mark-III in June this year.
  • Being termed a “game changer”, it can carry satellites weighing up to 4.4 tonnes.
  • With the introduction of the Mark-III, India will not have to rely on expensive foreign carriers to launch payloads above 2.2 tonnes in weight.
• Rifath Sharook, an 18-year-old student from Tamil Nadu, has developed what he claims is the world’s smallest and lightest satellite.

• Important Points to Note :
  • Sharook, whose satellite will be launched by NASA in June, will be the first Indian student to have his experiment launched by NASA.
  • The satellite, made using reinforced carbon fibre polymer, is named ‘KalamSat‘, after former President APJ Abdul Kalam.

National News Affairs

• Union HRD Minister Prakash Javadekar today announced that WiFi services will be launched in 38 Central universities, starting July this year.
  • Further, all such universities will be connected with a National Knowledge Network (NKN) for information sharing.
  • Some of the universities selected are DU, IGNOU, JNU, Aligarh Muslim University, Hyderabad University, Benaras Hindu University.
• West Bengal Education Minister Partha Chatterjee has announced that school students across the state, irrespective of boards, will have to study Bengali as a compulsory subject upto Class 10.

New Appointments

• French President Emmanuel Macron has named centre-right Edouard Philippe as his first Prime Minister, making his first major political decision a day after being inaugurated as the country’s leader.
• Pradeep Amat elected as Speaker of Odisha Assembly following voice vote in House.

Banking, Business & Economic Affairs

• Finance Minister Arun Jaitley has launched the ‘Operation Clean Money‘ portal that aims “to create a tax-compliant society”.
  • The portal will identify those who have made deposits or purchases not in line with the declared income.
  • It will also enable transparent Tax Administration by sharing status reports, including an explanation of verification issues, and thematic analysis reports.
• Indian Railways is going to charge 50-100 extra on the booking of lower berths as there is a high demand for these berths.
  • The move, similar to airlines charging extra for window seats, is aimed to benefit senior citizens and those in need.
• ICICI Bank cuts home loan rate by up to 3%for loans up to Rs. 30 lakh to promote affordable housing.
  • With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry.

Awards & Honors

• Chhavi Verg, an Indian-born, Hindi and Spanish-speaking business student, was named runners-up at Miss USA 2017.
  • Note : Scientist and activist Kára McCullough, who works as a radiochemist with the Nuclear Regulatory Commission that regulates nuclear plants, was crowned Miss USA 2017.