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  • Current Affairs 3rd October 2018

    Updated : 03-Oct-2018


    Current Affairs 3rd October 2018 - Important Points

    • International Day of Non-Violence observed globally on - 2nd October 2018
    • Manufacturing PMI rises to 52.2 in - September 2018
    • BSE becomes first stock exchange to launch commodity derivative contracts from - 1st October 2018
    • India ranks 5th in world terms of largest pictorial warning on cigarette packs by - International
      Status Report 2018
    • PM Modi to receive United Nation's Champions of the Earth award on - 3rd October 2018
    • Indian-American Gita Gopinath appointed as - Chief Economist of IMF
    • Odisha launches food security scheme to cover those left out from NFSA on - 2nd October 2018

     Current Affairs 3rd October 2018 - Details

    International Day of Non-Violence observed globally on - 2nd October 2018

    The International Day of Non-Violence was observed across the world on 2nd October 2018, on the occasion of the birth anniversary of Mahatma Gandhi, who is the leader of Indian independence movement and pioneer of the philosophy and strategy of non-violence at the same time.

    The day is celebrated every year to spread non-violence message, including through education and public awareness.  The UN resolution, which is established the commemoration, reaffirms that the universal relevance of the principle of non-violence and the desire to secure a tolerance, peace culture, understanding and non-violence.

    Introducing the resolution in the General Assembly on behalf of 140 co-sponsors, India’s Minister of State for External Affairs, Anand Sharma stated that the diverse sponsorship of the resolution was a reflection of the universal respect for Mahatma Gandhi and of  the enduring relevance of his philosophy.

    Manufacturing PMI rises to 52.2 in - September 2018

    As per the Nikkei India Manufacturing Purchasing Managers Index, which is a manufacturing activity was enhanced in September 2018 on the ground of tougher gains in new orders, output, and employment.
    The monthly Purchasing Managers Index raised to 52.1 in September 2018 from 51.7 in August 2018. A
    reading more than 50 on this survey-based index directed expansion and anything underneath it reflects contraction.
    Important Points

    • The noteworthy driver of growth in activity in September 2018 was development in new orders.
    • This robust growth was connected to expansions in both domestic as well as foreign demand.
    • The export sales have reinforced with net gain and best recorded since the starting of the year.
    • Moreover, high product quality was taken as factor supporting total fresh order book growth.
    • However, the main concern is sturdier United States dollar as compared to rupee as it sustained to increase compared price of goods including steel and fuel, thereby increasing input costs for producers.

    Purchasing Managers’ Index

    • Purchasing Managers’ Index is a pointer of business activity-both in the production and services sectors.
    • It is calculated distinctly for production and services sectors and then fused index is constructed.
    • The index figure more than 50 signifies expansion in business activity and anything underneath 50 signifies contraction.
    • Purchasing Managers’ Index is usually released at beginning of month, much before most of formal information on industrial output, manufacturing and GDP growth is made available.
    • It is, therefore, measured a good leading indicator of economic activity. Production growth calculated by Purchasing Managers’ Index is measured good indicator of industrial output.

    BSE becomes first stock exchange to launch commodity derivative contracts from - 1st October 2018

    India’s leading bourse Bombay Stock Exchange became 1st stock exchange in the nation to release
    commodity derivative contracts. It has released contracts in popular commodities for instance in gold-
    1kg and silver- 30kg.  This introduction comes after unified exchange regime kicked off from 1st October 2018.
    The introduction of commodity derivatives platform on Bombay Stock Exchange will ease efficient price
    discovery, decrease timelines and make it cost effective. Bombay Stock Exchange also has requested for
    launching of crude oil and copper commodity contracts with capital markets regulator SEBI. Afterward, it is also scheduling to introduce more agri commodities.
    More about Bombay Stock Exchange

    • Bombay Stock Exchange is the oldest stock exchange in Asia initiated by 8 native stock brokers
      association in 1875 situated at Dalal street, Mumbai.
    • It had acknowledged temporary sanction from Bombay government in 1927 and enduring endorsement by Indian Government on 31st Aug 1957.
    • Today it is 10th largest stock market in the world by market capitalization at $1.7 trillion and has above 5,000 firms listed in it. Its iconic building called Phiroze Jeejeebhoy Towers at Dalal Street in Mumbai, Maharashtra has gained image trademark under Trade Marks Act, 1999.
      Did you know?
      Till date, commodity contracts were only accessible on commodity exchanges like MCX and NCDEX, the 2 specialised commodity derivatives exchange in the nation. Freshly, Securities and Exchange Board of India had permitted India’s top 2 stock exchanges- Bombay Stock Exchange and National Stock Exchange to introduce commodity derivatives trading under unified exchange regime wherein stock exchanges will be permitted to propose trading in commodities derivatives.

    India ranks 5th in world terms of largest pictorial warning on cigarette packs by - International
    Status Report 2018

    India was positioned Fifth among 206 nations in Cigarette Package Health Warnings: International
    Status Report 2018 published by Canadian Cancer Society. The positioning of the nations was in terms of largest pictorial cautionary on cigarette packs. In India, 85 percent of both sides of cigarette packets are covered with warnings.
    Important Points

    • In 2018 report, Timor-Leste has the largest cautions on cigarette packages in the world with 92.5 percent on front and back, followed by Nepal and Vanuatu with 90 percent and New Zealand at 4th with 87.5 percent.
    • India held the 5th position mutually with Hong Kong and Thailand for 85 percent warnings.
    • The report recognized global progress on plain packaging and ranked 206 nations and territories based on size of their health warnings on cigarette packages, and lists nations and territories that need graphic picture warnings.
    • It was the 6th Canadian Cancer Society international report on cigarette package health warnings.
    • Earlier reports were released in 2008, 2010, 2012, 2014 and 2016. It was published in Geneva at 8th session of Conference of Parties to World Health Organisation Framework Convention on Tobacco  Control.

    Important Outcome of report

    • The report has found that 118 nations around the world have made pictorial warnings compulsory,
      representing global public health accomplishment and 58 percent of the world’s population is covered by this regulation.
    • Canada was 1st nation to make picture health warnings compulsory in 2001.
    • Sum of 107 nations pictorial warnings cover minimum 50 percent of the package, both front and back, up from 94 in 2016 and 24 in 2008. 55 nations/jurisdictions have made compulsory for minimum 65 percent of the package, front and back, be covered with warning.

    PM Modi to receive United Nation's Champions of the Earth award on - 3rd October 2018

    PM Narendra Modi would be bestowed with the United Nations Champions of the Earth award, the highest environmental award of the UN on October 3rd, 2018. The award will be given by United Nations Secretary General Antonio Guterres at a special ceremony in New Delhi.
    The annual “Champions of the Earth” prize is bestowed to outstanding leaders from government, civil society and the private sector whose activities have had a positive influence on the environment.
    The award is the UN’s highest environmental recognition rejoicing exceptional figures from the public and private sectors and from civil society.
    The awards were recognized in 2005 under the UNs Environment Programme. Since then, they have
    documented 84 laureates ranging from leaders of countries to grassroots activists in the categories of policy, science, business and civil society.
    The award was proclaimed on September 26th, 2018, on the side-lines of 73rd United Nations General
    Assembly in New York.
    Significance

    • PM Modi has been elected in the leadership group for his pioneering work in championing the International Solar Alliance, which is a global partnership to increase solar energy.
    • With the award, the United Nations Environment is awarding PM Modi for his bold environmental leadership on the global stage.
    • The award is also in gratitude of Modi’s extraordinary pledge to eradicate all single-use plastic in India by the year 2022.
      Other Awardees
    • The respected awards programme acknowledged 6 of the world’s most outstanding environmental
      changemakers present year for their grouping of bold, innovative and tireless actions to tackle few of the most urgent environmental matters.
    • The winners consist of world's 1st fully solar-powered airport  Cochin International Airport in Kerala, Filipino  environmental activist Joan Carling, Plant-based food alternative providers Beyond Meat and Impossible Foods and China’s Zhejiang’s Green Rural Revival Programme, which were bestowed for the alteration of a once heavily polluted area of rivers and streams in East China's Zhejiang jurisdiction.

    Indian-American Gita Gopinath appointed as - Chief Economist of IMF

    • Indian originate economist Gita Gopinath was selected Chief Economist of International Monetary Fund-IMF. She will take over as International Monetary Fund chief economist after Maurice Obstfeld retires from his position in December 2018. It makes her 2nd Indian after earlier Reserve Bank of India governor Raghuram Rajan to embrace the position.
      More about Gita Gopinath
    • Gita Gopinath is Indian origin scholar. She is United States resident and Overseas Citizen of India.
    • She got her Ph.D degree in economics from Princeton University in 2001 following earning Bachelors of Arts from Delhi University and Masters of Arts degrees from both Delhi School of Economics and University of Washington.
    • She joined the University of Chicago in 2001 as Assistant Professor earlier moving to Harvard in 2005.
    • She became tenured Professor there in 2010. She is John Zwaanstra Professor of International Studies and of Economics at Harvard University. Her study and examination focus on International Finance and Macroeconomics.
    • She is co-director of International Finance and Macroeconomics programme at National Bureau of
      Economic Research, member of economic advisory panel of Federal Reserve Bank of New York, co-editor of American Economic Review, visiting scholar at Federal Reserve Bank of Boston, co-editor of present Handbook of International Economics. She was managing editor of Review of Economic Studies also.
    • She is presently Economic Adviser to CM of Kerala and also had worked on advisory panel for G-20
      matters for India’s Ministry of Finance.
    • In 2014, she had made into International Monetary Fund’s list of twenty-five economists under 45. She was also selected as Young Global Leader by World Economic Forum in year 2011.

    Odisha launches food security scheme to cover those left out from NFSA on - 2nd October 2018

    The state government of Odisha on October 2nd, 2018 released its own food security plan to advantage
    the 25 lakh poor residents who were left out of the National Food Security Act- NFSA. The State Food Security Scheme (SFSS) was released by CM Odisha Naveen Patnaik via video conferencing on the eve of Gandhi Jayanti. While the Chief Minister released the plan in 4 districts including Bolangir, Balasore, Sundergarh and Mayurbhanj, the state’s Members of Parliaments and Members of Legislative Assembly’s initiated the scheme in the rest of the parts.
    Important Highlights

    • Under the programme, the recipients will get Five kilograms of rice/individual/month at the rate of Rupees One /kg, the same as availed by individuals covered under the National Food Security Act, 2013.
    • Among the state's 4,19,74,218 population according to the 2011 census, about 78% have been enjoying the advantages of National Food Security Act.
    • According to the provisions of the State Food Security Scheme, 25 lakh poor people left-out from the advantages of the National Food Security Act, will receive the rice at subsidised prices.
    • The distribution of rice to nominated recipients will be carried out via e-Point of sale device at the selected fair price shops.
      Importance
    • The scheme will profit 25 lakh vulnerable population that were excepted from coverage under National Food Security Act. 
    • Talking during the programme, CM Odisha Naveen Patnaik informed that adequate and nutritious food is a basic necessity and prerequisite for a healthy Odisha.