Monthly Current Affairs Quiz - July, 2018

Notes:
Antonio Vitorino, a lawyer and politician from Portugal, has been elected Director General of International Organization for Migration (IOM). He will succeed William Lacy Swing on 1st October 2018. IOM is the UN Migration Agency and is the leading inter-governmental organization in the field of migration with over 10,000 staff serving in over 400 offices across more than 150 countries. It provides services and advice to Governments and migrants, such as humanitarian assistance to migrants in need, including refugees and internally displaced people.

Notes:
S Ramesh, a 1981 batch officer of the Indian Revenue Service (Customs and Central Excise), has taken over charge as the new chairman of the Central Board of Indirect Taxes and Customs (CBIC), the apex policy-making body for indirect taxes. Prior to his elevation, he was Member (Administration) in the Board. He succeeded Vanaja N Sarna, who superannuates on June 30, 2018. The CBIC is the apex body for administering the levy and collection of indirect taxes of the Union of India viz. Central Excise duty, Customs duty and Service Tax, and for facilitating cross border movement of goods & services. It is a part of the Department of Revenue under the Ministry of Finance. It deals with the tasks of formulation of policy concerning levy and collection of Customs & Central Excise duties and Service Tax, prevention of smuggling and administration of matters relating to Customs, Central Excise, Service Tax and Narcotics to the extent under CBEC’s purview.

Notes:
The Union government has constituted a committee a 13-member committee to upgrade the norms for computation of economic data at states and districts level in the backdrop of plans to revise the base year for National Accounts or GDP calculation. The Committee for Sub-National Accounts will be headed by Ravindra H Dholakia, a retired professor of IIM Ahmedabad. Ministry of Statistics and Programme Implementation (MOSPI) will change the base year to 2017-18 for the calculation of GDP and IIP numbers from the existing 2011-12 with an aim to capture changes in the economy. The panel will review the concepts, definitions, classifications, data conventions, data sources and data requirements for preparation of State Domestic Product (SDP) and District Domestic Product (DDP) and to lay down revised guidelines. It will also suggest measures for improving SDP and DDP in the country taking into consideration availability of data and requirements of the Centre and states/union territories.

Notes:
As per US State Department’s 2018 Trafficking in Persons Report, North Korea has been tagged “worst human trafficking nation” for the 16th straight year, citing the use of forced labour. North Korea has been included in the Tier 3 category, which is the lowest ranking, along with China, Russia and Iran. The report stated that the North Korean government does not fully meet the minimum standards for the elimination of trafficking and is not making significant efforts to do so. It is continued to use forced labour in prison camps and labour training centres. In a stark contrast, South Korea has been ranked at the highest category, that is, in the list of Tier 1 countries for the 16th consecutive year, along with US, UK, France and Canada.

Notes:
For the first time, the US Food and Drug Administration has approved the world’s first-ever cannabis-based medicine “Epidiolex” made from marijuana. It is a milestone approval that could spur more research into a drug that remains illegal under federal law. The drug, manufactured by UK-based GW Pharmaceuticals, will be used to cure children aged 2-years old, who suffer from Dravet Syndrome and Lennox-Gastaut Syndrome, rare childhood-onset forms of epilepsy. Epidiolex is a purified form of cannabidiol (CBD), one of the hundreds of molecules found in the marijuana plant. It contains less than 0.1% of Tetra-Hydro-Cannabinol (THC), which makes people high. In simple words, the new drug is an oral solution of cannabidiol (CBD) and does not cause intoxication or a high.

Notes:
On July 2, the first meeting of the Cauvery Water Management Authority (CWMA) will be held at Central Water Commission (CWC) office in New Delhi to resolve disputes over sharing of river water among Tamil Nadu, Karnataka, Kerala and Puducherry. The meeting of the 9-member Authority will be chaired by the CWC Chairman S Masood Hussain, who is also heading the Cauvery Authority. The meeting will discuss the issues including water storage in Cauvery basin reservoirs, the release of Cauvery water to Tamil Nadu from Karnataka as per the schedule and duly complying with all aspects of the judgement of the Supreme Court in this regard. As per Supreme Court’s direction, the Central Government constituted CWMA on 1st June 2018. The CWMA is an umbrella body, which will monitor water management on a day-to-day basis, including the water level and inflow and outflow of reservoirs in all the basin states.

Notes:
Arvind Kejriwal, the Chief Minister of Delhi, launched the ‘Happiness Curriculum’ for students of nursery to Class 8 in government schools on July 2, 2018. The curriculum was launched in the presence of the Dalai Lama. Students across schools can expect a ‘happiness’ period of 45 minutes. Each class will begin with a five-minute meditation session. The Happiness period was designed and prepared by a team of 40 Delhi government teachers, educators and volunteers over a period of six months. It will also include value education and mental exercises.

Notes:
India will host the 19th edition of IUFoST World Food Science and Technology Congress 2018 in Navi Mumbai from October 23-27, 2018. The IUFoST stands for ‘International Union of Food Science and Technology’. The 5-day event will bring together researchers, academicians, professionals, policy makers and industry leaders from across the globe to showcase innovation, exchange breakthrough ideas and drive policy issues. The focal theme for the 19th edition of the prestigious World Congress of Food Science and Technology is ’25 Billion Meals a Day by 2025 with Healthy, Nutritious, Safe and Diverse Foods’. IUFoST 2018 will provide insight on key concepts on recent advances in food sciences, food processing and agriculture technologies.

Notes:
The Sunil Mehta committee which was formed with a view to tackle Non-Performing Assets (NPAs) and creating credit capacity submitted its report with recommendations to Union Finance Minister Piyush Goyal on July 2, 2018. The Sunil Mehta panel presented project ‘Sashakt’ and has recommended a five-pronged strategy to deal with NPAs in the country’s banking system. The five-pronged strategy includes — SME Resolution Approach (SRA), Bank Led Resolution Approach (BLRA), AMC / AIF led resolution approach, NCLT / IBC approach, and asset-trading platform. The report recommends a five pronged approach for loans from Rs 50 crore, Rs 50-500 crore and loans above Rs 500 crore. The committee has also suggested an asset trading platform for both performing and non-performing assets. The plan focuses on turning around assets in a manner that will create additional jobs by reviving businesses and prevent job losses from foreclosures.

Notes:
Nagpur, the second capital of Maharashtra, is set to host the Monsoon session of the state Legislature today after a gap of 47 years. This will be the fourth time that the monsoon session of the state Legislature, normally held in Mumbai, will take place in Nagpur. The session will commence in Nagpur from July 4 to 20, 2018. Traditionally, Nagpur hosts the winter session of the legislature in December every year whereas the budget and monsoon sessions are held in Mumbai. According to an official of the Vidhan Bhavan, the monsoon sessions of the state Legislature were earlier held in Nagpur in 1961, 1966 and 1971. As per the Nagpur Pact-1953, the district in the Vidarbha region was accorded the status of second capital of Maharashtra. The pact also required one session of the state Legislature to be held in Nagpur every year.