SUPER 6 CURRENT AFFAIRS- 24th Feb 2017

NATIONAL:

1. Sikkim becomes 22nd State to join UDAY

The Centre and Sikkim government today signed a Memorandum of Understanding (MOU) under the Scheme Ujwal DISCOM Assurance Yojana (UDAY) for operational improvement of the State's Power Distribution Department and would derive Rs 481 crore by way of cheaper funds and reduction in AT&C. With the signing of MoU, the total number of States covered under UDAY has reached twenty-two. Sikkim would derive an Overall Net Benefit of approximately Rs 481 crore through UDAY by way of cheaper funds, reduction in AT&C and transmission losses and interventions in energy efficiency during the period of turnaround. AT&C losses and transmission losses would be brought down through compulsory distribution transformer metering, consumer indexing & GIS mapping of losses, upgrade/change transformers, meters, smart metering of high-end consumers, feeder audit, besides eliminating the gap between cost of supply of power and realisation. The reduction in AT&C losses and transmission losses to 15 per cent and 3.50 per cent respectively is likely to bring additional revenue of around Rs 453 crore.

2. Kerala to launch sex offenders registry, first in the country 

The Kerala government will launch a registry of sex offenders, the first of its kind in the country, Governor Justice (Retd) P Sathasivam said in Thiruvananthapuram on Thursday. The registry will contain all identification details of sex offenders and would be kept in public domain, he said while detailing plans to check atrocities against women in the state. “It will be the first in the country,” he added.
Addressing the opening day of the fourth session of the 14th Legislative Assembly, Sathasivam also said that the CPI(M)-led Left Democratic Front government will set up a comprehensive relief fund for victims of sex crimes. The announcements come days after an actress was abducted and sexually assaulted in a moving car while returning from a shooting site in Kochi.

“Though the Nirbhaya Cell under the Department of Social Justice has been functioning commendably in the state, Kerala lacked a comprehensive victim relief fund. Although some of the victims get some amount of money, the relief due to them for the damages they suffer are delayed due to this shortcoming,” Sathasivam said.
“Government will set up a comprehensive victim relief fund to provide interim relief for victims of sex crimes, both children and adults,” he said. Sathasivam added that the increasing impunity of sexual offences due to lack of social deterrence is a growing concern all over the country.

INTERNATIONAL:

3. China overtakes US, France as Germany’s biggest trading partner, for first time

•China for the first time became Germany's most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed on Friday.

•German imports from and exports to China rose to 170 billion euros ($180 billion) last year, Federal Statistics Office figures reviewed by Reuters showed.

•The development is good news for the German government, which has made it a goal to safeguard global free trade after U.S. President Donald Trump threatened to impose tariffs on imports and his top adviser on trade accused Germany of exploiting a weak euro to boost exports.

•German Vice Chancellor Sigmar Gabriel has suggested that the European Union should refocus its economic policy toward Asia, should the Trump administration pursue protectionism.

•"Given the protectionist plans of the new U.S. president one would expect that the trade ties between Germany and China will be further strengthened," said Anton Boerner, head of the BGA trade association.

•The main reason for the reduced trade volume with the U.S. was a drop in American exports to Germany, Boerner added.

•Neighboring France remained the second-most important business partner with a combined trade volume of 167 billion euros. The United States came in third with 165 billion euros.

4. India, Germany exchange instruments of ratification of Social Security Agreement
India and Germany today exchanged instruments of ratification of Social Security Agreement (SSA). The agreement establishes the rights and obligations of nationals of both countries and provides for equal treatment of their nationals and unrestricted payment of pensions even in the case of residence in the other contracting state. 


The requirements to be entitled to a pension can be met by aggregating the periods of insurance completed in India and Germany, whereby each country pays only the pension for the insurance periods covered by its laws. 

The period of posting will be up to 48 calendar months. The SSA will come into force from 1st of May this year. It was signed by the two nations in October 2011. An official release issued in New Delhi said the SSA between India and Germany will favorably impact the profitability and competitive position of Indian and German companies with foreign operations in either countries by reducing their cost of doing business abroad. The SSA will also help promote more investment flows between the two countries.

India has so far signed and operationalized Social Security Agreements (SSAs) with 18 countries including Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Japan, Norway, Portugal, Sweden, Switzerland, and South Korea.

BUSSINESS:

5. India to be fastest growing economy among G-20 nations: Moody's

International rating agency Moody's Investors Service has predicted that India will be the fastest growing economy among G-20 countries clocking a 7(point)1 per cent growth in year 2017. 

In the report titled 'Modest Acceleration in the Global Economy, Moody said, Indian economy will be the fastest growing among the G-20 nations, though it slowed down in the fourth quarter of 2016 because of the demonetisation. 

Moody also said, the continuing cyclical recovery in global economic activity with growth in G-20 countries picking up modestly to 3 per cent in 2017 and 2018 from 2.6 per cent in 2016. 

The rating aganecy also said, that there is a high risk of a significant protectionist shift in US trade policy and could inflict lasting damage to the global economy.

Commenting on Asia, the agency said, China's economy stabilised around the official growth target of 6.7 per cent in 2016 but will likely continue to decelerate to 6.3 per cent and 6 per cent in 2017 and 2018.

SPORTS:

6. India win bronze in ISSF World Cup

Hosts India have opened their account with a Bronze medal in the International Shooting Sport Federation (ISSF) World Cup. On Day One of competitions at the Karni Singh Shooting Range in New Delhi today, Pooja Ghatkar overcame technical issues to clinch the women’s 10 metre air rifle bronze. The former Asian champion shot 228.8 in the final to finish third.

For the 27-year-old Ghatkar, it is her maiden World Cup medal, after two final appearances in the past.

China’s Mengyao Shi won the gold medal with 252.1 while setting a new world record in the event. Her Chinese compatriot Dong Lijie bagged the silver with a score of 248.9. 

In Men's 10 metre air rifle final, Deepak Kumar finished fifth with a score of 185.4. Another Indian, Ravi Kumar, was placed eighth with 122.0. The event was won by China's Wong Buhan with a World Record score of 249.5. Peter Sidi of Hungary took the Silver, while Atsushi Shimada bagged the Bronze. 

In the women’s trap event, Rajeshwari Kumari, Seema Tomar and Manisha Kheer failed to clear the qualification hurdle. 

Penny Smith of Australia won the gold medal in women’s trap with a world record score of 40, Italy’s Jessica Rossi bagged silver, while Mopsi Veromaa of Finland had to be content with the bronze. 

At the end of day one, China led the medal standings with two gold and one silver, while India was fifth overall. The other gold of the day went to Australia.