Current Affairs 29th May 2014

Current Affairs 29th May 2014

Updated : 29-May-2014

Current Affairs 29th May 2014 - Important Points
Current Affairs 29th May 2014 - Details
Former TRAI chief Nripendra Misra appointed as Principal Secretary to PM Narendra Modi
On 28th May 2014, former Chairman of Telecom Regulatory Authority of India (TRAI) Mr. Nripendra Misra was appointed as the Principal Secretary to the Prime Minister, Narendra Modi. Mr. Nripendra Misra is a retired IAS officer.

Earlier on 27 May 2014 Union Cabinet passed an Ordinance to amend Telecom Regulatory Authority of India (TRAI) Act, 1997 to enable Misra's appointment as Principal Secretary to the PM. The Ordinance was promulgated by the President, Pranab Mukherjee under Article 123 of the Constitution of India on 28 May 2014. The Ordinance will be ratified during the Budget Session.
69 year old Mr. Nripendra Misra, who has served in various capacities in the government, retired as the Chairman of Telecom Regulatory Authority of India (TRAI) in 2009. The TRAI Act prohibits its Chairman and members from taking up any other job in the Central or State Governments after demitting office that's why Union Cabinet passed an Ordinance to amend Telecom Regulatory Authority of India (TRAI) Act.
PM created a new Ministry of Skill Development and Entrepreneurship
On 27th May 2014, PM Mr. Narendra Modi created a new Ministry of Skill development and Entrepreneurship. It was created recognizing the importance of skill development in India. MP from the Lakhimpur constituency of Assam Sarbananda Sonowal was made Minister of State for Skill Development and Entrepreneurship.
The immediate mandate of new Ministry is to ensure that India meet its target of skilling and upskilling 500 million people in India by 2022. At the same time create an ecosystem that eliminates bottlenecks which makes business easier and encourage entrepreneurship.
Do you Know ?
This is the first time a separate ministry for skill development has been created.

Mukul Rohatgi appointed as new Attorney-General of India
On 28th May 2014, Mr. Mukul Rohatgi was appointed as the 14th Attorney-General of India. He will succeed Goolam Essaji Vahanvati.
Mr. Mukul Rohatgi is Senior Supreme Court advocate and Additional Solicitor General under the earlier NDA regime. Mr. Rohatgi represented the Gujarat government in the Supreme Court in many cases like 2002 Gujarat riots, Zahira Sheikh and Best Bakery cases.
Earlier, the 13th Attorney-General of India, Goolam Essaji Vahanvati and Solicitor General Mohan Parasaran tendered their resignations after change of government in India. They resigned as law officer because tenure of law officers is co-terminus with the government.
Supersonic Akash air defence missiles successfully intercepted targets
On 28th May 2014, Indian Air Force (IAF) conducted the tests of Supersonic Akash air defence missiles which successfully intercepted the targets. The three Akash missiles were launched from the Integrated Test Range (ITR), Balasore, off the coast of Odisha. They were launched on tow body target of Lakshya (pilotless target aircraft) moving at low altitude far boundary, and ripple mode missions. The missiles intercepted the fast moving and maneuvering small RCS targets within small interval of five seconds in ripple mode.
The missiles were developed by Defence Research and Development Laboratory (DRDL) along with 13 other DRDO laboratories and manufactured by Bharat Dynamics Limited (BDL). The launchers were developed by a DRDO lab and produced by Tata Power and L&T.
The 700-kg all-weather missile Akash can carry a 60-kg warhead at speeds of up to Mach 2.5. It can operate autonomously and simultaneously engage and neutralise different aerial targets.
It can be launched from static or mobile platforms, enabling flexible deployment by the armed forces.
Tesco gets CCI approval for 50% Trent stake purchase
Among the economy Current Affairs, The Competition Commission of India (CCI) on 28 May 2014 approved the British retail major, Tesco's plan to purchase 50% stake in Tata Group firm Trent Hypermarket. This is the first FDI transaction in multi-brand retail segment, since the sector was opened up in September 2012.

CCI approval came after it found that Tesco purchasing of 50% stake in Trent would not result into any horizontal overlapping of business activities and hence, it was not an unfair competition. Further it found that annual revenue of Trent was 785 crore rupees during 2012-13, which was insignificant when compared to the size of the overall retail market in India.
World Bank Group Appoints Hiroshi Naka as Vice President and Auditor General of World Bank
World Bank Group President Jim Yong Kim announced the appointment of Hiroshi Naka as Vice President and Auditor General of the World Bank Group on 23rd May 2014, which is important news among international Current Affairs. He will take the charge as the Vice President in July 2014.
A Japanese national, Mr. Naka brings more than twenty-five years of experience working with the Japanese Ministry of Finance (MoF) and multilateral organizations, where he specialized in issues such as economic sanctions, anti-money laundering, and supervision of financial institutions.
President appointed Narasimhan as common Governor of Telangana and Andhra Pradesh
On 28th May 2014, the President of India Shri Pranab Mukherjee appointed ESL Narasimhan as common Governor of Telangana and Andhra Pradesh. His appointment will come into effect from the date when he assumes the charge of the office. Narasimhan got the additional responsibility five days ahead of formal bifurcation of Andhra Pradesh on 2nd June 2014. He will be serving Telangana until a permanent arrangement is made.