Daily Current Affairs (English) - 10.08.2018

National

THE WORLD’S FIRST THERMAL BATTERY PLANT INAUGURATED IN ANDHRA PRADESH

India became home to the world’s first-ever thermal battery plant, that was inaugurated in Andhra Pradesh on Monday. This plant aims to create a new energy storage form that is expected to have commercial applications, while also maintaining a low carbon footprint, and being less dependent on external factors like weather. The thermal battery facility, to be owned by Bharat Energy Storage Technology Private Limited (BEST), will be inaugurated by Andhra Pradesh Chief Minister N Chandrababu Naidu, and could provide energy solutions for electrical grids, transport and telecom services. Before we look at its applications, here is a lowdown on the science behind thermal battery technology.

Main Points: This plant will start commercial production from May, 2019. Bharat Energy Storage Technology Pvt. Ltd.'s plan is to prepare a battery of 1000 MW capacity, up to 10 gigawatt by 2025. The thermal battery is based on alternative sources of energy, this will reduce dependence on fossil fuels. This will power the sectors like electricity grid, traffic and communication services. This plant is based on many technologies patented by Dr. Patrick Glynn in 2016.

The Theory of Thermal Battery Technology: Thermal battery uses thermal energy (thermal energy), thermal energy is generated due to temperature difference. In this battery heat is stored when it goes from one place to another in the battery. For the transmission of energy it has two parts: sink and source. PCM (phase changing materials) are compounds on either side, they change their condition due to physical and chemical reactions. When heat comes to the battery's sink, there are physical or chemical changes in it, thus energy is stored.

Benefit: The thermal energy is the best choice of non-renewable energy, it is considered better than solar energy. Thermal power will be used in communication services, electric grid, electric vehicles etc. Thermal battery is cheaper and more efficient than solar battery. Thermal batteries can work longer than lithium ions.


HARIVANSH NARAYAN SINGH ELECTED AS DEPUTY CHAIRPERSON OF RAJYA SABHA

JD(U) parliamentarian in Rajya Sabha Harivansh Narayan Singh was on Thursday elected as the new Deputy Chairperson of the Upper House after he won the election with 125 ayes against 105 noes.The ruling NDA fielded Singh as its candidate and sources in the BJP according to various reports said he had expected to get the support of 126 members in the Upper House, which has an effective strength of 244 MPs.Soon after the election was over, Prime Minister Narendra Modi congratulated the newly-elected deputy chairman of Rajya Sabha.

Harivansh Narayan Singh: Harivansh Singh is the current MP of Pratapgarh Lok Sabha in Uttar Pradesh. He was elected from Pratapgarh Lok Sabha constituency on May 16, 2014 in the 2014 Lok Sabha election. He is affiliated with his party political party, whose coalition was from the Bharatiya Janata Party's National Democratic Alliance for the 2014 Lok Sabha elections. He is a businessman from Navi Mumbai, Jaunpur is an ancestral place.
 

International

 

IVAN DUQUE SWORN IN AS COLOMBIA'S NEXT PRESIDENT

Ivan Duque has been sworn in as Colombia's president. He is the youngest man to ever hold the office. As a protege of former presdident Uriibe, analysts wonder how much of his own man he will be.van Duque, who at 42 will be the youngest Colombian president ever elected in a popular vote. He describes himself as a centrist who will unite the nation at a time when many are still fiercely divided over the peace agreement that ended more than five decades of bloody conflict. Duque succeeds center-right liberal Juan Manuel Santos, who had been in power since 2010 for two terms. Duque took the oath of office for a four-year term during a public ceremony on Bolivar Square in the historic center of Bogota. His detractors, however, fear he will be little more than a puppet for Alvaro Uribe, the conservative ex-president who led a referendum defeat of the initial version of peace accord in 2016. Uribe is still backed by millions of Colombians, though he is perhaps equally detested by legions who decry human rights abuses during his administration.

Trade & Economy

IMF FORECASTS INDIA'S GDP TO GROW AT 7.5% IN 2019-20

The International Monetary Fund (IMF), in the report published on Tuesday, said the near-term macroeconomic outlook for India is "broadly favourable."Growth is forecast to rise to 7.3 per cent in fiscal year 2018/19 and 7.5 per cent in 2019/20 on strengthening investment and robust private consumption, the report said.inflation is projected to rise to 5.2 per cent in fiscal year 2018/19, as demand conditions tighten, along with the recent depreciation of the rupee and higher oil prices, housing rent allowances and agricultural minimum support prices, it said.The current account deficit is projected to widen further to 2.6 per cent of the GDP on rising oil prices and strong demand for imports, offset by a slight increase in remittances, the report said. It said that financial sector reforms have been undertaken to address the twin balance sheet problems, as well as to revive bank credit and enhance the efficiency of credit provision by accelerating the cleanup of bank and corporate balance sheets.

IMF

  • The International Monetary Fund, the International Monetary Fund, is an international organization, which acts as an eye to the global economic status of its member countries.
  • It provides economic and technical support to its member countries.
  • This organization helps to keep the international exchange rates stable and facilitate growth.
  • Headquartered in Washington, D.C., United States. Dominican Strauss is the managing director of this organization.
  • IMF's special currency is SDR (Special Drawing Rights). Some countries' currency is used for international trade and finance, it is called SDR.
  • SDRs are Euro, Pound, Yen and Dollars.
  • IMF was established in 1944.
  • 45 delegates from different countries of the government had formulated the international economic agreement by meeting UK's UK woods. The IMF was formed after signing the 29 countries agreement on December 27, 1945.
  • IMF has a total of 186 member countries. On June 29, 2009 the Kosovo Republic was joined as the 186th country
  • The objective of the IMF is to secure economic stability, promote economic progress, reduce poverty, promote employment and facilitate international trade.

With the increasing number of member countries, the work of IMF in the global economy has increased significantly. Any country can apply for the membership of the IMF. Earlier this application was sent to the inquiry by the Executive Board of IMF. After this the Executive Board sends the Board of the Gervais for its recommendation.

Appointment

REKHA SHARMA

NCW member Rekha Sharma, who recently stoked a controversy by suggesting abolition of confessions in churches, has been appointed as the chairperson of the National Commission for Women. Sharma, 54, was earlier a member of the Commission and was holding the additional charge of chairperson after Lalitha Kumaramangalam demitted office in September last year.

Books

BEBAK BAAT :VIJAY GOYAL

The Vice President of India, Shri M. Venkaiah Naidu has said that continuous communication between public representatives and the public is crucial for development of our nation. He was addressing the gathering after releasing the Book ‘Bebak Baat’, authored by the Minister of State for Parliamentary Affairs and Statistics & Programme Implementation, Shri Vijay Goel.
 

Awards

INDIAN-AMERICAN HIGH SCHOOLER WINS INTERNATIONAL GEOGRAPHY BEE WORLD CHAMPIONSHIP

Indian-American high school student Avi Goel has won the world championship at the International Geography Bee’s junior varsity division held in Berlin, Germany, last month. Avi, 14, a tenth grader at Silver Creek High School in Evergreen, San Jose, CA, won a gold medal in seven out of the 10 medal events, and a silver medal in two of the events, topping the overall medals table.He also bagged the top spot in all the three events counting towards the world championship title: The International Geography Exam, the International Geography Showdown, and the International Geography Bee. The competition took place from July 11-18, 2018, and brought together over 100 of the world’s top geography students to vie for the world championship title in the subject.