Current Affairs February 2 2019

We are here for you to provide the important Current Affairs February 2 2019, which have unique updates of all daily events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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Current Affairs February 2 2019INDIAN AFFAIRS

Interim Budget 2019 Highlights

  • Union Finance Minister Piyush Goyal presented an Interim Budget for 2019 in Parliament on February 1 2019
  • India to become a USD 5-trillion economy in the next five years and aspires to become a USD 10-trillion economy in the next 8 years
  • No income tax for earnings up to Rs. 5 lakh
  • Under Pradhan Mantri Kisan Samman Nidhi(PM-KISAN), 6000 rupees per year for each farmer, in three installments, to be transferred directly to farmers’ bank accounts, for farmers with less than 2 hectares land holding.
  • Pradhan Mantri Shram Yogi Mandhan scheme to provide assured monthly pension of 3000 rupees per month, with contribution of only Rs 100/55 per month, for workers in unorganised sector after 60 years of age.
  • 22nd AIIMS to be setup in Haryana.…………Click here to Read more

Horticulture crops production at 314.67 million tonnes in 2018-19; higher than past 5 yrs’ average
As per the 2017-18 (Final) and 2018-19 (1st Advance estimate) of Area and Production of Horticulture Crops released by The Department of Agriculture, Cooperation and Farmers Welfare, there has been a record production of Horticulture crops in 2017-18 reaching 311.7 Million Tonnes.

Horticulture crops production at 314.67 million tonnes in 2018-19The Summary of report is given in the table below.

Total Horticulture2016-20172017-2018 (Final)2018-2019 (1st Advance estimate
Area (Million Ha)24.8525.4325.87
Production (Million Tonnes)300.64311.71314.67
Key Points
i. As per 1st Advance estimate of 2018-19, the total Horticulture production is estimated to be 314.5 Million tonnes which would be 8% higher than last 5 years average.
ii. As per 2017-18 Final Estimate, Horticulture crops production was 3.7 per cent higher than 2016-17 and 10% higher than the past 5 years average.
iii. As per 2017-18 Final estimate, the production of fruits was estimated at 97.35 million tonnes whereas the production of vegetables was estimated at 187.5 million tonnes.
iv. In 2018-19 the onion production is likely to be 23.62 million tonnes and Potato production is estimated to be 52.58 million tonnes.
v. The estimated are made with the help of information received from different States and Union Territories.
Ministry of Agriculture and Farmer’s Welfare
♦ Union Minister: Radha Mohan Singh
♦ Minister of State: Gajendra Singh, Parsottambhai Rupala and Krishna Raj

DAC approves indigenous construction of 6 submarines worth Rs 40000 cr
On 31st January 2019, The Defence Acquisition Council (DAC) chaired by Defence Minister, Nirmala Sitharaman approved the indigenous construction of 6 Project 75(India) submarines under the strategic Partnership model at the cost of Rs 40,000 crore.
Key Points
i. The construction of 6 submarines aims to boost Government’s ambitious ‘Make in India” program and it will provide a major boost to submarine design and manufacturing ecosystem in India.
ii. This is the second project under Strategic Partnership (SP) model. The first project was the acquisition of 111 utility helicopters for navy at the cost of 21000 crore in August, 2018.
iii. DAC also approved the acquisition of around 5000 French-origin MILAN Anti-Tank Guided missiles for the Indian Army.
Ministry of Defence
♦ Union Minister: Nirmala Sitharaman
♦ Minister of State: Dr. Subhash Ramrao Bhamre
♦ Headquarters: New Delhi

International conference on 8th century sage held to mark 50 years of India-Bhutan ties
To mark the  50-years of formalization of diplomatic ties between India and Bhutan,a two-day international conference on 8th century Himalayan sage Guru Padmasambhava was held in New Delhi.

International conference on 8th century sage held to mark 50 years of India-Bhutan tiesAbout conference:
i. This conference was organised by the Centre for Escalation of Peace (CEP) and was titled ‘Life and Legacy of Guru Padmasambhava’, was held on January 29-30.
ii. Scholars from both countries participated in the conference and discussed about the Guru who was born in India and moved towards Bhutan in the 8th century to spread Buddhism and Buddhist teachings all across the Himalayan region.
iii. Next on phase to conference, an art exhibition showcasing rare artefacts associated with Guru Padmasambhava, was also held.
About Bhutan
♦ Capital: Thimphu
♦ Currency: Ngultrum
♦ Prime minister: Lotay Tshering
♦ King: Jigme Khesar Namgyel Wangchuck

Goa CM Manohar Parrikar presents Goa Annual Budget 2019-20
On 30th January 2019, Chief Minister of Goa, Shri Manohar Parrikar who also holds the Finance portfolio presented the annual budget of Goa for 2019-20 in the Assembly. The annual budget increase from 17,123.28 crore in 2018-19 to 19548.69 crore in 2019-20 with an increase of 14.16% over previous year.
Key Points
i. The allocation for Capital Expenditure was increase by 18.29 % to Rs. 4987.45 crore in 2019-20 as compared to Rs. 4216.25 crore in 2018-19.
ii. In this year’s annual budget, the Total estimated expenditure on Revenue Account was Rs. 13308.26 Crore.
iii. There was a revenue surplus of Rs 455.10 Crore in this year’s budget.
iv. The GSDP (Gross State Domestic Product) for 2019-20 is Rs. 84888 Crore as compared to Rs. 77,171 Crore for 2018-19 representing a growth of approximately 10%.
v.The Goa Government has laid stress over agriculture, health, education, IT (Information Technology), infrastructure and overall sustainable economic development in the budget.
About Goa
♦ Chief Minister: Manohar Parrikar
♦ Governor: Mridula Sinha
♦ Capital: Panaji
♦ National Parks and wildlife sanctuary: Mollem National Park, Salim Ali Bird Sanctuary

BANKING & FINANCE

RBI Lifted up the  restrictions on BoI, Bank of Maharashtra, Oriental Bank of Commerce
On February 1,2019, The Reserve Bank of India eased out the  operational curbs on three banks, Bank of India (BoI),Bank of Maharashtra (BoM) and Oriental Bank of Commerce (OBC) and also allowed them to have a exit from the Prompt Corrective Action ( PCA) framework fully.

pcaPoints to be Noted:
i. These three banks were part of 11 government-owned banks that were put under the Prompt Corrective Action framework in 2017 and 2018. And the government gave a capital infusion of Rs 10,000 crore for Bank of India, Rs 5,500 crore for Oriental Bank of Commerce and Rs 4,500 crore for Bank of Maharashtra, which helped the banks to come out of the framework.
ii. Based on the norms of minimum regulatory capital, net NPAs(Non-performing assets) and leverage ratio and marked improvements in asset quality , RBI eased out the curbs and is allowed to open branches and extend loans freely.
About The Banks:

BankHeadquartersCEOTagline
Oriental Bank Of CommerceGurugramMukesh Kumar JainWhere Every Individual Is Commited
Bank of IndiaMumbaiDinabandhu MohapatraRelationships beyond Banking
Bank Of MaharashtraPuneRavindra MaratheOne Family One Bank
Government sets up committee to explore prepaid payments by discoms to generator companies
On February 1,2019 , On recommendation of Cabinet Secretary P K Sinha ,The government constituted a committee under the Central Electricity Authority (CEA) to explore prepaid payments by state electricity distribution companies to power plants.
About the Committee
i. The formed committee, consist of The chairman of distribution companies of Tamil Nadu and Maharashtra, and representatives from Union power ministry and power associations to look into problems of delayed payments from distribution companies to power generators .
ii.The committee will study working capital cycles of power distribution companies and generation companies and identify gaps contributing to obstacles  in the sector.

BUSINESS & ECONOMY

Govt lowers import duty on parts and components of electric vehicles to 10-15%
On 29th January 2019, The Government reduced the import duty on parts and components of electric vehicles to 10-15 per cent from 15-30 per cent in order to promote domestic assembling of electric vehicles. The new rates will come into effect from 30th January 2019.
Key Points
i. A separate category for parts and components of electric vehicle has been carved out by the Central Board of Indirect Taxes and Customs (CBIC) which attracts import duty of 10-15%.
ii. The CBIC has removed customs duty exemption to battery packs for electric vehicles and hence they will attract a tax of 5% on import.
iii. The Custom duty on battery packs for mobile phones has been doubled by CBIC and hence they will attract a tax of 20% on import
The Central Board of Indirect Taxes and Customs (CBIC)
♦ Headquarters: New Delhi
♦ Parent Organization: Ministry of Finance

Government revises GDP growth rate to 7.2% for 2017-18 from 6.7% estimated earlier
On 31st January 2019, the Central Statistical Office (CSO), Ministry of Statistics and Programme implementation has revised the GDP (Gross Domestic Product) Growth forecast to 7.2% from earlier estimate of 6.7%.

Government revises GDP growth rate to 7.2% for 2017-18Government revises GDP growth rate to 7.2% for 2017-18Key Points
i. The revised GDP growth rate shows that the effect of demonetization was not as severe as predicted earlier. Hence various economists have criticized the revision of growth rates.
ii. The GDP growth rate at current prices also called Nominal GDP growth rate has been revised to 11.3% to 10% for 2017-18.
iii. The actual growth rate for 2016-17 has also been revised to 8.2% from the earlier estimate of 7.1% by the CSO.
Ministry of Statistics and Programme implementation
♦ Union Minister: DV Sadananda Gowda
♦ Headquarters: New Delhi

Mizoram govt bans import of pigs and piglets
On February 1,2019 ,The Mizoram Government issued an order to ban the import of pigs and piglets ,because there is a possibility of outbreak of Porcine Reproductive and Respiratory Syndrome (PRRS).
i. PRRS disease is also called as Swine Flu,the virus of this disease generally transmitted from pigs and affects both pigs and humankind
ii. Basically the pigs imported from Myanmar are in suspect point, pigs imported from other countries too have been banned as a move to prevent the outbreak of the PRRS in the state.
About Mizoram
♦ Capital: Aizawl
♦ Chief minister: Zoramthanga
♦ Governor: Kummanam Rajasekharan

AWARDS & RECOGNITIONS

Health Minister Confers Award of Appreciation to Rajiv Nath of AIMED for his Contribution to Global Public Healthcare
On January 30,2019, Rajiv Nath was conferred with prestigious Award of Appreciation by Ashwini Kumar Choubey, Honourable Minister of State for Health & Family Welfare for his contribution to the Global Public Healthcare sector in New Delhi.
i. Rajiv Nath was honoured for his valuable, remarkable and outstanding achievements in the field of healthcare & community services for affordable MedTech access & patients safety initiatives.
ii. Rajiv Nath has also been appointed as the Member on Board of National Medical Devices Promotion Council by DIPP ( now renamed as Department for Promotion of Industry and Internal Trade(DPIIT)) to boost the Indian Medical Devices Sector and lead India to an export driven market in the Medical Devices sector.

APPOINTMENTS & RESIGNS

Sanjiv Ranjan appointed as the Ambassador of India to the Republic of Colombia   
On 1st February 2019, Ministry of External Affairs appointed 1993 batch Indian Foreign Service (IFS) Officer Sanjiv Ranjan who is current Ambassador to Argentina as the new Ambassador to the Republic of Colombia.
Key Points
i. Sanjiv Ranjan was born in 1966 and he holds bachelors in Economics from University of Delhi and an M.A. in International Relations from Jawaharlal Nehru University (JNU).
ii. He served as Deputy High Commissioner of India to Mauritius from 2006 to 2009. Apart from this he held diplomatic positions in Indian Embassies in Madrid and Lima.
About Colombia
♦ Capital: Bogota
♦ President: Ivan Duque
♦ Currency: Peso

Yes Bank senior group president Pralay Mondal resigns
On 31st January 2019, Yes Bank Senior group President and head of retail and business banking, Pralay Mondal resigned from his post. He will serve his notice till 31st March 2019.
Key Points
i. Pralay Mondal joined Yes Bank in 2012 and he was elevated along with Rajat Monga who handled financial management as Executive Directors of the Yes Bank in September 2018.
ii. On 31st January 2019, Yes Bank appointed Ajai Kumar who had led Syndicate Bank in past as non-executive Director till Ravneet Singh Gill from Deutsche Bank takes over from 1st March 2019.
About Yes Bank
♦ Headquarters: Mumbai, Maharashtra
♦ Founder: Rana Kapoor, Ashok Kapur
♦ Tagline: Experience our Expertise

SCIENCE & TECHNOLOGY

ISRO lists 10 firms to make li-ion cells
On 29th January 2019, The Indian Space Research Organization (ISRO) selected 10 companies jointly with the NITI-Aayog from a list of 141 companies for transfer of its Lithium-ion cells technology developed by the Vikram Sarabhai Space Centre (VSSC), Thumba.
Key Points
i. The Selected companies are:

Company NamePlace
Amara Raja Batteries Ltd.Chittoor, Andhra Pradesh
Bharat Electronics Ltd.Pune, Maharashtra
Carborundum Universal Ltd.Kochi
Exicom Tele-systems Ltd.Gurugram, Haryana
GOCL Corporation Ltd.Hyderabad,
Jyoti CNC Automation Ltd.Rajkot
National Aluminum Company LtdBhubaneswar
Sukhbir Agro Energy Ltd.New Delhi
Tata Chemicals Ltd.Mumbai
Thermax Ltd.Pune
ii. ISRO developed Li-ion cells with capacities ranging from 1.5 Ah to 100 Ah for use in launch vehicles and satellites.
The Indian Space Research Organization (ISRO)
♦ Headquarters: Bangalore, Karnataka
♦ Chairman: Dr. K. sivan
♦ Formation: 15 August 1969

SPORTS

South Korean footballer Ki Sung-yueng announces retirement
On January 31,2019,Midfielder Ki Sung-yueng announced his retirement from the South Korean national team.

South Korean footballer Ki Sung-yueng announces retirementi. The midfielder though decided to retire after the 2018 FIFA World Cup in Russia yet decided to compete in the 2019 AFC Asian Cup, which held in United Arab Emirates, under the new national team coach Paulo Bento.
ii. He made his international debut on September. 5, 2008 and ended his international career as the eighth-most capped South Korean player.  

INS Dronacharya wins Kochi Area Boat Pulling Regatta 2019
On january 31,2019,  INS Dronacharya team won the Regetta trophy in the  Area Pulling Regatta Kochi 2019 of the (SNC Southern Naval Command) held in Kochi. is one of the most prestigious and traditional naval sporting activities conducted by the Southern Naval Command.
The Boat Pulling Regatta  Six teams, formed from all major units of South Naval Command participated in the regatta,in which boats had to cover a distance of 1.6 km of the navy. and end at the North Jetty in the Ernakulam Channel, from the Venduruthy-Vikrant Bridge

Sathiyan surpassed Sharath to become highest-ranked Indian at 28, Manika Batra breaks into top-50 
On January 30,2019, Indian paddler G Sathiyan achieved a new career rank of 28 in the world rankings.

Sathiyan surpassed Sharath to become highest-ranked Indian at 28i. He surpassed Sharath after he gained three spots in his recent game.
ii. Manika Batra became the first female from India to be enlisted in top 50 list, she made herself in rank 47

Mithali becomes first female to play 200 ODIs
On 1st February 2019, 36 years old India’s Women Cricket team captain, Mithali Raj became the first female player to play 200 ODIs during the 3rd and Final ODI against New Zealand.
Key Points
i. Mithali Raj has played in 200 out of 263 ODI matches that India have played till now.
ii. Mithali Raj has also scored highest runs in ODIs which is 6622 at an average of 51.33 including 7 centuries
iii. She also holds the longest international career among all female players and She has the fourth longest career only behind India’s Sachind Tendulkar, Sri Lanka’s Sanath Jayasuriya and Pakistan’s Miandad if we include Men’s teams also.

Vani Kapoor becomes first Indian to grab Australian LPGA card
Golfer Vani Kapoor has become the first Indian to grab Australian Ladies PGA Tour (LPGA) after securing 12th Rank tied with three others in the first ever qualifying tournament at the Ballarat Golf Club in Australia.
Key Points
i. Total 81 player participated in the Qualifying tournament out of which top-20 earned the card for LPGA.
ii. Vani Kapoor finished two-over 218 after shooting rounds of 71, 78 and 69.
iii. Diksha Dagar, Astha Madan and Ridhima Dilawari also participated in the qualifying tournament but they could not grab the Card of LPGA.
iv. Diksha Dagar and Astha Madan will participate in the two day AUD 30000 event in the upcoming Australian LPGA Pro-Am.
About Australia
♦ Capital: Canberra
♦ Prime Minister: Scott Morrison
♦ Currency: Australian Dollar

OBITUARY

Former Planning Commission  member and Ex- IIMC director Hiten Bhaya passed away 
On January 31,2019,Former Planning Commission member of and ex-director  Indian Institute of Mass Communication (IIMC) Hiten Bhaya passed away in New Delhi.
i. He also served as the chairman of Hindustan Steel.

IMPORTANT DAYS

World Wetlands Day – February 2
World Wetlands Day is celebrated every year on the 2nd of February to raise global awareness on the value of wetlands for humanity and the planet.
Theme of World Wetlands Day 2019 is” Wetlands and Climate Change