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July 04, 2015

28th June 2015 - Important Current Affairs updates

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National Affairs
  • The Prime Minister Narendra Modi has launched IPDS Scheme at Varanasi. 
    • About IPDS :
      • IPDS : Integrated Power Development Scheme
      • The IPDS is one of the flagship programmes of the Ministry of Power.
      • This scheme will be at the core attempt to ensure 24x7 power for all. 
      • The Scheme, announced in the Union Budget 2014-15, aims at strengthening of sub-transmission network, Metering, IT application, Customer Care Services, provisioning of solar panels and the completion of the ongoing works of Restructured Accelerated Power Development and completion of the Reforms Programme (RAPDRP).
  • Prime Minister laid foundation stone of Indian Agriculture Research Institute (IARI), Jharkhand (Hazaribagh).
    • This is the first of its kind in eastern India.
    • This research institute will be built in 1,000-acre campus.
  • Tamil Nadu Chief Minister J Jayalalithaa launched the first phase of the Chennai Metro via video conferencing.
    • Note : This inaugural service was steered by a woman driver.
    • The 45 km Metro Rail project is estimated to cost Rs 14,600 crore and would cover two routes– the 23.085 km Wannarapet to Airport section– and the 21.961 km stretch from Chennai Central to St.Thomas Mount.
    • Initially, there will be 9 trains running between Koyambedu and Alandur with a frequency of about 10 minutes.
Business & Economy
  • The government is planning to set up Rs.500 crore venture capital fund to boost domestic pharma industry and provide cheaper loans to entities looking to establish or upgrade manufacturing facilities.
    • The government is also working on various proposals, including single window clearance for drug approvals, to rejuvenate the local pharma sector and make medicines more affordable. 
    • These steps were suggested by a Task force formed by the Department of Pharmaceuticals (DoP) in it's recent report.
      • Chemicals and Fertilizers minister : Ananth Kumar.
    • Note : The market size of India’s pharmaceutical industry is estimated at about Rs.2 lakh crore.
  • Sushma Swaraj is on a two-day visit to Thailand. 
  • Highlights of this Visit : 
    • India and Thailand exchanged the Instruments of Ratification of the extradition treaty and also an agreement for the avoidance of double taxation.
      • Signed between Sushma Swaraj and Thai Deputy Prime Minister Gen. Tanasak Patimapragorn.
      • This treaty provides for the extradition of any person who is wanted for trial or for the imposition or enforcement of a sentence by one contracting state and is found in the territory of the other contracting state.
      • This will help both countries in expedited extradition of fugitives.
      • This treaty will further strengthen the relationship between law enforcement agencies by providing a firm legal basis for their bilateral cooperation, said an official statement.
  • India and Thailand also inked an MoU on establishment of the Nalanda University.
    • By signing this agreement, Thailand joined other East Asian Summit (EAS) countries in the establishment of the university.
  • Both sides also inked an agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income, so as to promote economic cooperation between two countries.
  • The two countries also inked an MoU on the establishment of the 'Academic Chair' in ayurveda, according to which the Central Council for Research in Ayurvedic Sciences will set up a Chair at Rangsit University in Thailand to undertake academic and research activities in ayurveda.
  • Russia's former prime minister Yevgeny Primakov (85), famed for turning around his US-bound plane over the Atlantic upon learning of NATO's bombing of Serbia in 1999, has died.
    • Along with Mikhail Gorbachev, Primakov was considered one of the last of the Soviet-era political titans, and his mid-flight turnaround is seen as a watershed moment in Russia's foreign policy after Moscow's rapprochement with Washington following the collapse of the Soviet Union.
  • World's tallest cow, Holstein (6 feet 2 inches) died in US after sustaining an irreparable leg injury.
  • Indian women cricket team beat New Zealand by 17 runs in first of the five-match ODI series in Bengaluru.

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