Current Affairs 18th May 2018

Current Affairs 18th May 2018 - Important Points

• National Policy on Biofuels, 2018 approved by - The Union Cabinet
• Enhancement of budget Network for Spectrum Project for Defence Services approved by - CCEA 
• First Indian stock exchange to get US SEC’s DOSM recognition - BSE
•  BS Yeddyurappa took oath as Karnataka CM on - 17th May 2018
• Department of Commerce notifies creation of Directorate General of Trade Remedies on - 17th May 2018
• Indore, Bhopal & Chandigarh are Top 3 cleanest cities of India in - Swacch Surveskshan 2018

Current Affairs 18th May 2018 - Details

National Policy on Biofuels, 2018 approved by - The Union Cabinet

The Union Cabinet has passed National Policy on Biofuels– 2018 in order to encourage biofuels in the nation. Biofuels in India are of calculated importance as it augers very well with constant initiatives of Government including Make-in-India, Skill Development and Swachh Bharat Abhiyan. It also proposals excessive prospect to assimilate with determined targets of double-folding of import reduction, farmers’ income, employment creation, waste to wealth Creation.
Main features of Policy
The policy classifies of biofuels to capable allowance of suitable financial and fiscal incentives under each class.

• Basic Biofuels: 1st Generation bioethanol and biodiesel.
• Advanced Biofuels: 2nd Generation ethanol, Municipal Solid Waste to drop-in fuels, 3rd Generation
  biofuels, bio-Compressed Natural Gas and many more.
• Expansion scope of raw-material for ethanol production permits usage of sugarcane juice, sugar
  comprising materials like sweet sorghum, sugar beet, and starch comprising materials like corn, cassava, and spoiled food-grains consisting broken rice, wheat, foul potatoes, non-suitable for human consumption for ethanol manufacturing.
• Usage of excess food grains policy permits the usage of excess food grains for generation of ethanol for blending with petrol with endorsement of National Biofuel Coordination Committee. This will make sure that farmers receive suitable amount for their produce during the excess production phase.
• Incentives to advanced biofuel, practicality gap funding scheme designated for 2nd Generation ethanol Bio refineries of Rupees 5000 crores in six years for delivering special stress to advanced biofuels. It also suggests extra tax incentives, developed purchase price as compared to 1st Generation biofuels.
• Supply chain mechanisms inspires forming of supply chain mechanisms for biodiesel manufacturing from non-edible oil-seeds, cast-off cooking oil, short gestation crops.
  Synergising efforts already defines the characters and everyday tasks of all the anxious Ministries and Government Departments in concern to biofuels to synergise efforts.

Enhancement of budget Network for Spectrum Project for Defence Services approved by - CCEA 

The Cabinet Committee on Economic Affairs has sanctioned enhancement of budget by Rupees 11,330
crores for Network For Spectrum project. This is more than Rupees 13,334 crores already sanctioned by Cabinet Committee on Infrastructure in July, 2012. With this, entire budget for the network for Defence services has now reached about Rupees 24,664 crores.
Network For Spectrum project

• The Network For Spectrum project focuses at placing alternative communication network for Defence Services.
• Network For Spectrum project will improve the communication capabilities of Defence Forces.
  In maximum way, it will lead towards improved national operational preparedness.
• It will also have onward linkages to other concerned industries such as telecom equipment engineering and other telecommunication concerned services.
• The project is being executed by BSNL and will be accomplished in two years of time period.
  Did you  know?

The Union Defence Ministry and Department of Telecommunication, the maximum decision-making body in Telecom Ministry had inked an accordance in 2009-10 to form high-class defence network for its communication services. Under it, Department of Telecommunication had settled to evacuate 25 MHz of 3rd Generation spectrum and 20 MHz of 2nd Generation spectrum in phases soley for defence communication determinations.

First Indian stock exchange to get US SEC’s DOSM recognition - BSE

BSE Ltd became 1st Indian exchange to be selected as Designated Offshore Securities Market by USA
Securities and Exchange Commission.
Key Points

• Designated Offshore Securities Market status will permit sale of securities to United States investors through trading venue of BSE without registration of such securities with US Securities and Exchange Commission.
• This will comfort businesses by Unites States investors in India and also improve attractiveness of Indian Depository Receipts between United States investors.
• The fresh status is also believed to mainly advantage securities issued in United States private
  placements to institutional investors.
• Moreover, it will deliver liquid resale market which will excused offerings by Bombay Stock Exchange enlisted organisations, making them more striking to United States investors.
• Designated Offshore Securities Market status will also issue extra advantages to organisations whose securities are operated both in United States and on Bombay Stock Exchange.
• It will permit certain directors and officers of dual organisations to sell again their securities on Bombay Stock Exchange, without any limitations that may spread under United States securities laws.
  Bombay Stock Exchange
• Bombay Stock Exchange is Indian stock exchange situated at Dalal Street, Mumbai.
• It was recognized in 1875, making it Asia’s 1st stock exchange.
• It was 1st Indian stock exchange to be documented by Government under the Securities Contracts Regulation Act in 1957.
• It has recognized India’s 1st international exchange India INX in December 2016 in GIFT city, Gujarat.

 BS Yeddyurappa took oath as Karnataka CM on - 17th May 2018

B.S.Yeddyurappa, Karnataka’s BJP President, took oath as Karnataka’s new CM on May 17th , 2018, ending hours on uncertainty. After single full day of speculation, Karnataka Governor Vajubhai Vala asked the the majority seats winner party BJP, to form the new government in the state and invited the 75 years old Yeddyurappa to take over the CM’s position. The Governor has issued the party fifteen days’ time period to demonstrate their majority in the legislative assembly.
Key Developments

• The oath was directed to 2-time former CM BS Yeddyurappa by Governor Vajubhai Vala at Raj Bhawan.
• The Congress and the JD(Secular) joint had filed a late-night petition in the Supreme Court on May 16th to stopover the swearing in of B.S.Yeddyurappa.
• However, the apex court declined to order a stay on the Governor’s decision and stopover the oath-taking ceremony in a rare late-night hearing.
• This is the 3rd time that B.S.Yeddyurappa has become Karnataka’s CM. His 1st term was from November 12th, 2007 to November 19 th , 2007, while the 2nd was from May 30 th , 2008-July 31 st , 2011.
• Yeddyurappa was the single one to take the sworn, no other ministers were sworn-in by the Governor.
  Verdict of Supreme Court -Key Highlights
• The Supreme Court rejected to stay the swearing-in of BJP’s B.S.Yeddyurappa, on May 16th , 2018.
  The conclusion was considered by a special 3-judge bench consisting Justices A.K.Sikri, S.A.Bobde and Ashok Bhushan.
• The Top court was hearing a petition filed by Congress and JD(S) thought-provoking the governor's decision to call Yeddyurappa to form a new government in the state.
• In the petition, the 2 parties had sought to hold the swearing-in of Yeddyurappa.
• The Apex court while hearing the case, instructed the Centre to place before it 2 communications, sent by BJP to Governor Vajubhai Vala in which it had betted claim to form the government.

Department of Commerce notifies creation of Directorate General of Trade Remedies on - 17th May 2018

The Department of Commerce released notification for creation of the DG Trade Remedies in the Union Ministry of Commerce and Industry, on May 17th , 2018. The sanction for the creation of Directorate General Trade Remedies was issued by Union Commerce and Industry Minister Suresh Prabhu after the amendment carried out by the Union Government to the Government of India (Allocation of Business) Rules, 1961 on May 7th , 2018 in this regard.

The office of Directorate General of Trade Remedies has been formed with an objective to dispose-off the cases concerned to unfair trade practices and to deliver a level playing field to the local industry.
Directorate General of Trade Remedies

• The DGTR will be the top National Authority that will be handling all trade remedial measures including anti-dumping, countervailing duties and precaution measures.
• The Directorate General of Trade Remedies will bring the Directorate General of Anti-dumping and Allied duties, the Directorate General of Safeguards; and the Safeguards functions of DGFT under
• Its name by assimilating them into single national entity.
• Directorate General of Trade Remedies will have an over-all asset of 112 positions which will be drawn from Directorate General of Anti-dumping and Allied duties of Department of Commerce and Directorate General of Safeguards of CBEC.
• It will deliver trade defence sustenance to local industries and exporters to pact with the trade remedy investigations introduced against them by other nations.

Indore, Bhopal & Chandigarh are Top 3 cleanest cities of India in - Swacch Surveskshan 2018

Union Minister for Housing and Urban Affairs, Hardeep Puri published the results of the Swacch Surveskshan 2018, on May 16th, 2018. Indore has appeared as the cleanest city again in India for 2nd year in a continuation. Indore and Bhopal have accomplished to retain their positions as the top two cleanest cities, as that of previous year.
Key highlights

• Chandigarh was ranked as the 3rd cleanest city, moving up from Rank 11 in 2017.
• UP’s Ghaziabad was named as the quickest moving big city of the Swachh Survekshan 2018, moving to the Position 36 from the earlier 351 in 2017.
• Jharkhand was announced as the best performing state, trailed by Maharashtra and Chhattisgarh.
• In terms of sanitation coverage, approximately 2133 cities and urban local bodies have been certified as ODF and 2679 cities have self-declared themselves as ODF and await certification.
• The Swachh Survekshan 2018 was planned by the Union Ministry of Housing and Urban Affairs under the guidance of the Swachh Bharat Mission (Urban) with an objective to approximate levels of cleanliness around cities in the nation.