Daily Current Affairs (English) - 03.08.2018

National

RAJASTHAN BECOMES THE FIRST INDIAN STATE TO IMPLEMENT BIOFUEL POLICY

Rajasthan became first state in the country to implement National Policy on Biofuels unveiled by Union Government in May 2018. Its implementation was approved by high-power Biofuel Authority. It was also decided that dtate Government will release Biofuel Rules, 2018.

Key Facts:

  • National Biofuels Policy -2018 has been announced by the Ministry of Petroleum and Natural Gas of the Government of India on June 4, 2018.
  • The objective of National Biofuels Policy-2012 is to promote the production of bio-fuels at home level.
  • Under the biofuel policy, awareness generation will be used to raise awareness of its use and increase the production of oily seeds as well as spreading widespread publicity of its benefits and marketing system.
  • With the financial assistance of Indian Railways for biodiesel production in Rajasthan, biodiesel production plant has been established in the state with 8 tonnes per day capacity.

Objective: The purpose of this policy is to promote the use of biofuel in the energy and transport sectors of the country during the coming decade. The objective of the policy is to promote domestic feedstock and its utility for the production of biofuels, in addition to creating new employment opportunities in a permanent manner, contributing to the reduction of national energy security, climate change, rapid fossil fuel Make choices. In addition, this policy will encourage the application of advance technologies to make biofuels.

International

UN’S E-GOVERNMENT INDEX: INDIA RANKS 96TH, DENMARK TOPS

India has jumped 22 places to 96th rank to break into the top 100 of the United Nation’s E-Government Development Index (EGDI) 2018. Denmark, with an index value of 0.9150, topped the 2018 E-Government Development Survey. The E-Government survey is released by the United Nations in every two years. The 2018 edition was titled as 'Gearing E-Government to Support Transformation towards sustainable and resilient societies'.India, which was ranked 118 in 2014, jumped 11 places to be ranked 96 in 2018.

The EGDI is a composite index based on the weighted average of three normalised indices:
1. Telecommunications Infrastructure Index (TII),
2. Human Capital Index (HCI),
3. Online Service Index (OSI).

The Top 6 Countries in the list along with the Score are:

  • Denmark 0.9150
  • Australia 0.9053
  • Republic of Korea 0.9010
  • The United Kingdom 0.8999
  • Sweden 0.8882
  • Finland 0.8815

Trade & Economy

RELIANCE BEATS TCS TO BECOME INDIA'S MOST VALUED COMPANY

Tata Group software services company TCS today became the country’s most-valued firm with a market capitalisation (m-cap) of Rs 2,60,075 crore, surpassing energy major RIL’s market value of Rs 2,58,988 crore.At the end of today’s trade, Tata Consultancy Services (TCS) commanded a market value of Rs 2,60,075 crore — the highest for any listed company in India. This is Rs 1,087 crore more than Reliance Industries Ltd’s (RIL) market value.A gain of 0.59 per cent in TCS’ share prices today pushed the company to the top position in the domestic market valuation chart.

In comparison, RIL shares ended the day 0.58 per cent lower on the BSE., TCS’s m-cap had surpassed the market value of RIL, but the IT giant’s stint at the top position proved to be short-lived with RIL reclaiming the position by the end of trade that day.Market capitalisation or market value of a listed company is arrived at by multiplying the total number of its shares with its stock price on a particular day or time. This figure changes with the change in stock price.ONGC with a market cap of Rs 2,28,089 crore was at third place, followed by ITC (Rs 2,27,675 crore) and Coal India (Rs 2,19,904 crore), data shows.


DIGITAL PAYMENTS MARKET IN INDIA SET TO TOUCH ONE TRILLION DOLLARS IN THE NEXT 5 YEARS

Niti Aayog has said that the digital payments market in India is set to become a trillion-dollar industry in the next five years. It will be led by growth in mobile payments which are slated to rise to 190 billion dollars by 2023 from 10 billion dollars in 2017-18, the Aayog said in a report.Releasing the report in New Delhi yesterday, Principal Adviser to Niti Aayog Ratan P Watal said, this will present huge business opportunities for players in the digital space. He said, the growth in digital payment gained momentum in both volume and value terms after demonetisation.

Mr Wattal said, proposed changes in the regulatory framework, entry of global giants and the advancement of technology will drive the future growth of digital payments in the country. He said the Goods and Services Tax (GST) regime, rolled out in July last year, will have huge impact on digital payments as it matures.
 

Awards

PRADIP CHOUDHURY FELICITATED BY MOHUN BAGAN RATNA AWARD 2018

The Mohun Bagan Day has been celebrated since 2001 on July 29 each year in honour of Mohun Bagan’s victory over the East Yorkshire Regiment in the final of the 1911 IFA Shield.The recipient of the 2018 Mohun Bagan Ratna along with a cheque of INR 100,000 (1 lakh) was former club defender Pradip Choudhury, who in his club career captained Mohun Bagan.The Late Karuna Shankar Bhattacharya award for the Best Footballer of 2017/18 season went to goalkeeper Shilton Paul, while Sourav Das was conferred the Best Youth Football Player award.

Mohun Bagan Ratna Award

  • Mohan Bagan Athletic Club is an Indian football club based in Kolkata.
  • The club was established on 15th August 1889, it is called the National Club of India
  • It also has the distinction of being Asia's oldest football club.
  • The football team has been successful since its inception and has maintained its position as one of India's most successful clubs.
  • It has won many trophies of national importance such as Federation Cup, Durand Cup, National Football League and Kolkata Premier Division
  • Mohun Bagan was the first Indian team to defeat any European team, when he defeated the East Yorkshire Regiment in 1911