BRAIN TREE

CURRENT AFFAIRS & GENERAL KNOWLEDGE

1st January, 2008 to 15th January, 2008

1. Cyprus and Malta adopted the euro as their national currency. Both Cyprus and Malta are
Mediterranean islands and former British colonies. The Cyprus Pound and Maltese Lira have
been scrapped. The Cyprus Euro coins will be inscribed in both Greek and Turkish, with designs
that include the ‘Mouflon’ or ‘Wild sheep’, a National symbol. Malta’s 1 euro and 2 euros coins
will bear the Maltese cross.

2.GAIL (India) and Rashtriya Chemicals and Fertilizers Limited (RCF) have inked a
Memorandum Of Understanding (MOU) for setting up of a coal gasification project.

3. The University of Cambridge announced the launch of the “Jawaharlal Nehru Professorship
of Indian Business and Enterprise” to honour India’s first Prime Minister. It has been set up with
a fund of £3.2-million contributed by India to celebrate the centenary of Nehru’s arrival at
Trinity College, Cambridge, where he studied for a degree in Natural Sciences. The professorship
will be assigned to Judge Business School in the university.

4. Indian Farmers Fertiliser Cooperative (IFFCO), announced that it will set up an agriculture-
based food processing SEZ with an investment of Rs. 2,400 crore in Nellore district of Andhra
Pradesh. This would be the country’s first Kisan SEZ that was expected to generate employment
for more than 10,000 persons. The project site is located on NH5 (Howrah-Chennai Highway)
and is close to Krishnapatnam port.

5. Rajeev Chandrasekhar has become the President-elect of the Federation of Indian Chambers
of Commerce and Industry (FICCI). He will formally assume the office from outgoing President
H. F. Khorakiwala at the conclusion of FICCI’s 80th annual session.

6. Orthopaedic surgeon and inventor of the world-famous Jaipur foot, Shri. P.K. Sethi, passed
away. Recipient of the Padma Shri and Magsaysay awards, Dr. Sethi developed the artificial limb
for the handicapped in 1968, in association with master artisan Ramchandra Sharma at the
Sawai Man Singh Hospital in Jaipur.

Before the invention of Jaipur foot, artificial limbs were of the solid-ankle-cushion-heel variety,
fashioned for wearing shoes and sitting on chairs. Jaipur foot – popularised all over the world for its
utility and low cost – is now manufactured on a large scale by the Mahavir Vikalang Sahayata Samiti
(MVSS), a non-governmental organisation headed by the former SEBI Chairman D.R. Mehta.

7. The U.K. State-funded National Health Service (NHS) is to launch a national screening
programme to tackle some of the biggest killer diseases, including heart attacks, strokes, diabetes
and kidney failure. The programme, the first of its kind in the world, is expected to help prevent

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200,000 deaths a year among the six million or more people who suffer from these diseases, and
heralds a switch in health priorities from curing illness to preventing it.

8. The National Association of Software and Service Companies (NASSCOM) has announced a
capacity building partnership programme with the Centre for the Promotion of Imports from
Developing Countries (CBI), Netherlands, for export development programme.

9. Tata Motors has manufactured the world’s cheapest car. Named “Nano”, the car was unveiled by
the group Chairman, Ratan Tata.

10. Sir Edmund Hillary, who conquered Mount Everest, the world’s tallest peak, to win renown
as one of the 20th century’s greatest adventurers, passed away. Edmund Hillary of New Zealand
and Tenzing Norgay of Nepal Concord the Mount Everest on May 29th 1953.

He was New Zealand’s High Commissioner to India from 1985 to 1989. Sir Edmund Hillary, wrote
or was a co-author of 13 books including “No Latitude for Error” and “High Adventure”.

1st January, 2008 to 15th January, 2008

11. M. Natarajan, Scientific Adviser to the Defence Minister, received the Sir C.V. Raman birth
centenary award-2008 and a gold medal from Prime Minister Manmohan Singh at the inaugural
function of the 95th Indian Science Congress held in Visakhapatnam. Mr. Natarajan was given
the Best Scientist Award for 1994 for his contribution to the success of the main battle tank,
Arjun.

12. The first phase of Eco-City programme is in the advanced stage of completion at the close of
the 10th Five Year Plan. It covers six towns — Kottayam, Tirupati, Ujjain, Puri, Thanjavur and
Vrindavan — and is aimed at improving the existing environment and changing those aspects
that are causing environment damage.

13.Bangladeshi author ‘Taslima Nasreen’ has been chosen for the prestigious Simon de Beauvoir
feminist award in recognition of her writing on women’s rights.

14.National Thermal Power Corporation (NTPC) and Coal India Limited (CIL) are all set to ink
a Memorandum of Understanding to float a joint venture special purpose vehicle (SPV) to build
two power plants of 1,500 MW at a cost of Rs. 7,500 crore and develop two coal mines in
Jharkhand with an investment of Rs. 500 crore.

15. The Hazira unit of Reliance Industries (RIL) has bagged ``Golden Peacock Innovation Award
-2007” for its cyclohexane recovery process in the production of linear low density poly ethylene
and high density polyethylene. Sterlite Industries also bagged this award for its world class
employee training structure and excellence practices.
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16.Hotmail co-founder Sabeer Bhatia has launched SabseBolo.com, a free conferencing facility, a
few months after launching Live Documents, an online office application.

17. The Reserve Bank of India released the Balance of Payment figures. According to these
figures – the private transfers comprising primarily remittances from Non-Resident Indians have
stood at 10.08 billion dollars for the period July-September 2007. This is nearly double of what
was received in the same quarter of the previous year.

18.India is the fourth largest economy after the U.S., China and Japan in Purchasing Power
Parity terms (PPP). All predictions are that it will outplay Japan, and occupy the third position
within the next two decades or sooner.
PURCHASING POWER PARITY (PPP)
The Purchasing Power Parity theory refers to a theory which asserts that, left to the free play
of market forces, the rates of exchange between currencies depend upon the relative
purchasing power of the currencies in the country concerned.

The Purchasing Power Parity (PPP) theory uses the long-term equilibrium exchange rate of
two currencies to equalize their purchasing power. Developed by Gustav Cassel in 1920, it is
based on the law of one price: the idea that, in an efficient market, identical goods must have
only one price.

A Purchasing Power Parity exchange rate equalizes the purchasing power of different
currencies in their home countries for a given basket of goods. It is often used to compare the
standards of living between countries, rather than a per-capita gross domestic products
comparison at market exchange rates. The best known and most used Purchasing Power Parity
exchange rate is the as the International dollar.

19.The Finance Minister has called on the bankers to ensure that banking services no longer
remain the privilege of the metro and urban dwellers but are also made accessible to Indians in
the remotest corners of the country. Only one out of three Indians as a bank account and
therefore the Finance Minister has placed increase thrust on ‘financial inclusion’.

1st January, 2008 to 15th January, 2008

20. The Defence Research and Development Organisation (DRDO) has developed an Inertial
Navigation System - Global positioning System of very low weight of 500 gms. The INSGPS
guides the missile an spells out the position, orientation and speed of the vehicle. The system was
used in the first test of ASTRA, the beyond – visual range ‘air to air’ missile. This would be
installed in unmanned aerial vehicles (UAVS). Such a system of low weight is stated to be the
first in the world.

21.The Indian Science Congress was held in Vishakhapatnam, Andhra Pradesh. The Congress
has a 95 – year long history. In this session, it included the first National Virtual Congress on
Mahila Kisan. The focus at the Congress on Mahila Kisan was on nutrition security.

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22.‘Touch 25’ is a new scheme launched by ‘AirIndia’. In this scheme, passengers flying 25
times between the six metros of Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore
between January 1st and March 31st will be entitled to a free ticket to New York or London or
Shanghai.

23. The Railway Ministry plans to develop major stations in metros and other prominent cities
into world class facilities. 22 stations will be developed through the public-private partnership
route. For the New Delhi station the Hong Kong based Terry Ferrell has been appointed
architect and technical consultant.
PUBLIC-PRIVATE PARTNERSHIP (PPP)
Public-Private Partnership (PPP) describes a government service or private business venture
which is funded and operated through a partnership of government and one or more private
sector companies. These schemes are sometimes referred to as PPP or P3.

In some types of PPP, the government uses tax revenue to provide capital for investment, with
operations run jointly with the private sector or under contract (see contracting out).

In other types (notably the Private Finance Initiative), capital investment is made by the
private sector on the strength of a contract with government to provide agreed services.
Government contributions to a PPP may also be in kind (notably the transfer of existing
assets).

Typically, a private sector consortium forms a special company called a "Special Purpose
Vehicle" (SPV) to build and maintain the asset. The consortium is usually made up of a
building contractor, a maintenance company and a bank lender.
It is the SPV that signs the contract with the government and with subcontractors to build the
facility and then maintain it. A typical PPP example would be a hospital building financed and
constructed by a private developer and then leased to the hospital authority. The private
developer then acts as landlord, providing housekeeping and other non medical services while
the hospital itself provides medical services.

24. The Supreme Court has in a recent case held that “the State or its instrumentalities must
abide by its commitments and cannot revoke the concessions or benefits granted to
entrepreneurs”. The above case related to a Steel and Alloys Company which had availed of the
33.3% hill development rebate granted by the U.P. Power Corporation in the electricity bill. The
concession was with drawn by a notification. This notification was challenged by the company.

25. The Empowered Group of Ministers has in principle approved an increase in the capacity of
the DABHOL Power plant in Ratnagiri district in Maharashtra. The Plant is being run by
Ratnagiri Gas and Power Pvt. Ltd. and is producing about 1300 mw. It is expected to go upto
full capacity of 2150 mw by March. Maharashtra is relying on this plant to pull the state out of
the power crisis.

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26. Germany and France brought in wide –reaching bans on Smoking in Public places.
1st January, 2008 to 15th January, 2008
27. The government is planning to draft a New Income Tax Act. Presently an Income Tax code,
aimed at simplifying the law is being released for a discussion. The rationale for the change was
based on the needs of the emerging economy. According to the Finance Minister, it would probably
be introduced in two years.
28.India and China have signed a document to promote bilateral cooperation in Civil Nuclear Energy.
The document entitled “A shared vision for the 21st Century” pledges to promote bilateral
cooperation in Civil Nuclear Energy, consistent with their respective International Commitments
which will contribute to energy security and to dealing with risks associated with climate change.
The document was signed by Prime Minister Manmohan Singh and his counter parts Wen Jiabao.
The document did not indicate any breakthrough on the boundary disputes.
29. The Music Academy Madras will confer a special life time achievement award on Violin Maestro
Lalgudi. G. Jayaraman. The award is in recognition of and a tribute to the monumental contribution
of the veteran musician over the last 6 decades as an outstanding violinist, a teacher and a composer.
The Music Academy of Madras is turning ‘80’ in the year 2008.
30.India and Oman are focusing on exploring options in Oil and Gas. Oman shares a common
border with United Arab Emirates and not being far from Iran, Oman is position to receive Oil and
Gas from its neighbouring countries through a network of pipelines. India could be a potential buyer
of surplus gas that could available in Oman in future. India, is paying close attention to Oman
because of its proximity to the Arabian sea.
31. The Supreme Court has prohibited the ‘Jallikattu’ (bull fight ) in Tamil Nadu. However, ‘Rekhla’
(bullock cart ) race under the supervision of the Police and District administration has been permitted.

ANDHRA PRADESH
1. The State owned Singareni Collieries Company Ltd. is planning a capital expansion during the 11th
Plan period. The company has registered a record coal production of about 30 million tonnes this year.
It has also opened a new green field mine at Dorli. The coal output from the new mines of
Bellampalli and Shrirampur have reached full capacity.
2. The Potti Sriramulu Telugu University held a three day dance festival in Kuchipudi village of
Krishna district. Noted dancer Yamini Krishna Murthy was presented the Siddendra Narthana
National Award. The Vice-Chancellor of the University is Ms. Avula Manjulatha.
3. Over 300 Olive Ridley turtles were found dead in Visakhapatnam district. Conservation activists
suspect that it could be due to the discharge of industrial effluents from the industrial units located in
the vicinity. Olive Ridley turtles arrive all along the coast of north Andhra to lay eggs during this
period.
(* For State Services Examination and Civil Services Interview )

DISCLAIMER
The information presented above has been collected from a variety of sources. Brain Tree exercises
due care and caution in collecting the data before publication. Inspite of this, if any omission,
inaccuracy or printing errors occur with regard to the data, Brain Tree will not be held responsible
or liable.
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