CURRENT AFFAIRS FOR RBI | NABARD | IBPS PO | SBI | SSC 2018

MAY 5, 2018

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MAY 5, 2018
NATIONAL NEWS

1. The Ministry of Women and Child Development Smt Maneka Sanjay Gandhi organized
A Day long National Conference on Beti Bachao Beti Padhao (BBBP) held in New Delhi
in which 244 Districts are selected under this scheme
• The Scheme is a Tri-Ministerial Initiative of Ministry of Women & child
development, Ministry of Health & Family Welfare & Ministry of Human
Resource Development.
• Successful Districts in BBBP
i. Gwalior, Madhya Pradesh
ii. Sikar, Rajasthan
iii. Sonepat, Haryana
• These Districts achieved the target by implementing Several Initiatives, they are:
i. Celebration of birth of girl child
ii. Displaying birth statistics through digital Guddi Gudda boards
iii. Oath taking ceremonies
iv. linking of birth of girl child with Sukanya Samriddhi accounts
v. plantation drives through involvement of urban local bodies
vi. sealing of unregistered ultrasonography machines.

2. An Exhibition called ‘India and the World: A History in Nine Stories’ will be inaugurated
at the National Museum auditorium, New Delhi
• It deeps into two million years of history
• This exhibition will be a part of memorial of 70 years of India’s independence and
a year of major cultural exchange between India and the UK

3. Indus dolphin is one of the world’s rarest mammals found only in India and Pakistan.
• The first organized census on Indus dolphins are conducting by the Punjab
government along with WWF-India.

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4. NITI Aayog and IBM signed a Statement of Intent to :

• Introduce technology to provide perspective to farmers to improve the
i. Productivity of Crops
ii. Soil Yields
iii. Farmer’s Incomes
• The Project is Implemented using Artificial Intelligence by which Farmers get to
know about the Climate Change, Crop Monitoring and Early Warning on Pest &
Disease Outbreak.
• The first phase of the project will focus on developing the model for 10
Aspirational Districts across the States of Assam, Bihar, Jharkhand, Madhya
Pradesh, Maharashtra, Rajasthan and Uttar Pradesh

5. Vice President M Venkaiah Naidu is on a for a five-day visit to South America's

Guatemala, Peru and Panama

6. GST Council in its 27th meeting

• Constituted two Group of Ministers (GoM) to consider issues related to

Incentivizing digital payments in GST regime & Imposition of Cess on Sugar
under GST
• Approved proposal of convert GST Network (GSTN) into government entity from
current private entity status by taking over stakes held by private entities.
i. The council has agreed to buy out stake of private entities in GSTN.
Following the move, central government will own 50% in GSTN and the
remaining will be collectively held by state governments
ii. GSTN was set up as not for profit, non-Government, private limited
company in 2013
• Simplified tax return Filing System
i. All taxpayers excluding few exceptions like composition dealer will file
one monthly return

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ii. Taxpayer will be given user-friendly IT interface and offline IT tool to

upload the invoices
iii. There will be no automatic reversal of input tax credit from buyer on
non-payment of tax by seller.
iv. Recovery of tax or reversal of input tax credit will be through due process
of issuing notice and order.
v. The new simplified return filing process will be implemented in three-
stage transition.
vi. The stage I is the present system of filing of return GSTR 3B and GSTR 1.
GSTR 2 and GSTR 3 will be suspended in Stage I which will continue for
maximum period of 6 months by which time new return software is
ready.
vii. In stage 2, new return will have facility for invoice-wise data upload and
also facility for claiming input tax credit on self-declaration basis, as in
case of GSTR 3B now.

INTERNATIONAL NEWS

1. The annual meeting of Asian Development Bank (ADB) held at Manila, Philippines.
2. The 12th informal meeting of SAARC Finance Ministers also held at Manila, Philippines.
3. With GDP of $2.7 trillion, US state California's economy has surpassed that of the UK to
become the world’s fifth largest, according to new federal data released.
• California’s economy is now only behind the economy of the United States,
China, Japan and Germany.

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BANKING AND ECONOMY

1. To develop an innovative biopharmaceutical and medical devices industry in India,

Government of India and the World Bank signed an agreement.
• The aim is to make India a hub for design and development of novel, affordable
and effective biopharmaceutical products.
• The agreement has signed at a cost of USD 250 million for five years with 50 per
cent funding through the World Bank Loan.

2. India Topped the list with the Projection of 7.9 Per cent as per the report of the Centre
for International Development (Harvard University) which predicted the fastest growing
economies in the world for the Upcoming Decade.
• The projection is far high than China (4.9 Per cent),U.S.(3 Per cent),France (3.5
Per cent)
• Uganda is in Second Position with predicted growth of 7.5 percent.
• The Report also Stated that India ranks the best in Complexity Opportunity
Index(COI),which measures the redeployment of the related products that
depends on the Capabilities.
• The Countries which has Low growth Prospects:
i. Bangladesh
ii. Venezuela
iii. Angola
• The Countries which has fast growth Prospects are:
i. Philippines
ii. Vietnam
iii. Indonesia
iv. Thailand

3. ADB projected India’s growth is Projected to be 7.3 Percent in Fiscal Year 2018
• 7.6 Per cent in the next Fiscal 2019

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• The growth Projection of India is high from the Previous year is because of the
Implementation of GST, Foreign Direct Investment also helps in India’s growth &
the Most Important Factor which boost the growth is the Governments Initiative
of Ease of Doing Business.

IMPORTANT DAYS
1. Department of Science & Technology (DST) celebrated its foundation day on May 3,
2018

AWARDS
1. Jnanpith laureate M T Vasudevan Nair has bagged this year’s annual ONV Literary
Prize, for his contributions to Malayalam literature.
• The award consists of a cash prize of Rs 3 lakh, citation and a plaque.
2. Anuja Akathoot’s poetry collection, ‘Amma Urangunnilla’ has been selected for the
young writer award in the ONV Literary Prize.

3. Ministry of Railways has announced Awards for beautification of Station premises across
the country

• First Prize - Balharshah and Chandrapur stations (Nagpur Division) of Central

Railway. Both the stations have been awarded with Rs 10 Lakhs prize money.

SPORTS

1. India’s javelin thrower Neeraj Chopra finished fourth in the season-opening IAAF
Diamond League, at the Qatar Sport Club, in Doha, Qatar.
• Germany’s Thomas Rohler won gold medal

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MISCELLANEOUS

1. Dakota DC-3 VP 905 aircraft joined the Indian Air Force again, in an induction ceremony
at Hindan air force station, Uttar Pradesh, over four decades after the aircraft fleet was
phased out.
• The restored Dakota has been renamed as ‘Parashuram’.
• It will join the ‘Vintage Fly’ of one each of Tiger Moth and Howard developed at
Hindan air force station

2. Tapanuli Orangutan, the rarest ape species on Earth, is on the verge of extinction.

3. Dave Michener, popular animator, who had worked for many Walt Disney films, died.

• He had worked in various movies like ‘The Great Mouse Detective’ (1986), ‘The
Fox and the Hound’ (1981), ‘The Rescuers’ (1977), ‘Oliver & Company’ (1988),
and ‘Robin Hood’ (1973).

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