Current Affairs for IAS Exams – 26 May 2016

:: National ::

One of the strongest El Niño in the history ended

Australia’s weather bureau said the withering El Nino — among the strongest in history and responsible for two years of consecutive droughts and record summer temperatures in India — had ended.
While that bodes well for the monsoon, weather officials in India said this could also be a precursor to floods during August and September and monsoon possibly spilling over to October.
The Australian Bureau of Meteorology said on Tuesday that there was “…little chance of [sea surface temperatures] returning to El Niño levels, in which case mid-May will mark the end of the 2015–16 El Niño.”
Typically, an El Nino — marked by above-average temperatures in the Pacific — that begins to cool is followed by a neutral phase before transitioning into La Nina.

Assocham study says India discards 18.5 lakh tones of e-waste annually

India, which has emerged as the world’s second largest mobile market, is also the fifth largest producer of e-waste, discarding roughly 18.5 lakh tonnes of electronic waste each year, a study says.
Telecom equipment alone accounts for 12 per cent of the e-waste, a joint study by Assocham-KPMG said.
The rising levels of e-waste generation in India have been a matter of concern in recent years. With more than 100 crore mobile phones in circulation, nearly 25 per cent end up in e-waste annually, it said.
The Ministry of Environment, Forest and Climate Change has notified e-waste management rules, 2016, in which producers are for the first time covered under extended producers’ responsibility (EPR).
The rules prescribe a waste collection target of 30 per cent waste generated under EPR for the first two years, progressively going up to 70 per cent in the seventh year of the rule.
The rules prescribe stringent financial penalties for non-compliance. However, the study said the unorganised sector in India is estimated to handle around 95 per cent of the e-waste produced in the country.
Given the huge user base and vast reach of telecom in India, it is practically difficult and expensive for the handset manufacturers to achieve the targets prescribed in the rules from first year, the study said.

Govt does not agree with SC’s estimate about judges vacancy (Register and Login to read Full News..)

Modi to address joint session of congress in US (Register and Login to read Full News..)

:: International ::

President begins his Chinese visit

President Pranab Mukherjee was given a rousing welcome by Chinese officials as he landed in Beijing on the second of a four-day visit to China.
Speaking at a reception in Beijing presided over by Chinese Vice-President Li Yuanchan, the President emphasised cultural and people-to-people links as key to expanding relations between the two countries.
Mr. Mukherjee harked back to the past to refer to strong cultural linkages between India and China, including the exchange of knowledge to set the context for the present.
Arguing that Indians and Chinese today “rely on borrowed prisms and secondary sources to understand each other”, he emphasised the need for direct exchanges between the civil societies.
Mr. Li said that both India and China were engaged in the projects of national rejuvenation and domestic reform. China had increased its investment and participation in railway projects and industrial parks in India, he said.
Mr. Mukherjee wrapped up his visit to Guangzhou, by inviting Chinese investors to expand their foreign direct investment in India and to leverage the various flagship initiatives launched by the Indian government such as Make in India, Digital India and the Smart City projects.
While the trade deficit between the two countries was a concern, “India would like to see a greater market for our products … in IT and IT-related services, pharmaceuticals and drugs and agro-products... in China”, he said.
He added that he was confident about greater engagement and enhancement of ties between Guangdong and India.
Initiatives such as sister-province relationship, for example between Gujarat and Guangdong which was established in 2014, were also discussed in the meeting.

Pakistan condemns drone attack on Pakistan’s soil

The U.S. drone attack on Pakistan’s soil to kill Afghan Taliban chief Mullah Mansour is detrimental to bilateral ties, Pakistan army chief GeneralRaheel Sharif said.
Gen. Sharif told this to U.S. Ambassador David Hale who visited the military’s General Headquarters in Rawalpindi, the Army said, adding that the situation arising after U.S. drone strike in Balochistan on May 22 came under discussion.
While expressing his serious concerns over the said drone strike, the Chief of the Army Staff said such acts of sovereignty violations are detrimental to relations between both countries and are counter-productive for ongoing peace process.
It is for the first time that Army has spoken on the issue.

Indian investment in Chabahar port assessed positively (Register and Login to read Full News..)

:: Business and Economy ::

Cabinet approved the first-ever policy for capital goods sector

The Cabinet approved the first-ever policy for the capital goods sector in the country that aims to triple the value of production of these goods to Rs.7.5 lakh crore by 2025 and create more than 21 million jobs.
The policy also envisages increasing exports to 40 per cent of production from the present 27 per cent.
The share of domestic production in India’s demand will also be increased from 60 per cent to 80 per cent, making India a net exporter of capital goods.
This is first ever policy for Capital Goods sector with a clear objective of increasing production of capital goods from Rs.2,30,000 crore in 2014-15 to Rs.7,50,000 crore in 2025.
“The policy will help in realising the vision of ‘Building India as the World class hub for Capital Goods’. It will also play a pivotal role in overall manufacturing as the pillar of strength to the vision of ‘Make in India’,’ according to the statement.
The objectives of the policy will be met by the Department of Heavy Industry in a time-bound manner through obtaining approval for schemes as per the roadmap of policy interventions.
The Union Cabinet also approved financial restructuring of Hindustan Steel Works Construction Limited (HSCL) and its takeover by National Buildings Construction Corporation Limited (NBCC), which is a PSU under the Ministry of Urban Development.
HSCL will become subsidiary of NBCC with the latter holding 51 per cent equity. The shareholding of Government of India in HSCL will be reduced to 49 per cent.
As per the proposal, the government’s loan along with accumulated interest and outstanding guarantee fee worth Rs.1,502.2 crore will be converted into equity and equity capital of the company will be raised to that extent.
The paid-up equity capital of the company will become Rs.619.3 crore from Rs.117.1 crore at present. After writing off of the accumulated losses, the equity and paid up capital of HSCL will become Rs.34.3 crore.
Further, NBCC will infuse funds of Rs.35.7 crore as equity into HSCL. The equity and paid up capital of HSCL will become Rs.70 crore.
The Cabinet also approved waiving off of loan Rs.1,916.14 crore and the outstanding interest of Rs.7,163.35 crore on the loan owed by Hindustan Fertilizer Corporation Ltd (HFCL) as part of a financial restructuring package for the PSU.
The transfer of 56 acres of ash dyke land of Barauni unit to Bihar State Power Generation Company Limited (BSPGCL) to settle dues of HFCL for faster revival of Barauni Unit was also given a nod.
The Cabinet also granted ex-post facto approval to the proposal for undertaking cadre review of the Indian Postal Service.
It will also reduce the existing stagnation and improve the career prospects of Indian postal service officers.
The proposal will be implemented through measures that include creation of various posts at different levels. However, there will be no change in overall number of posts in the cadre.

Govt to auction small and marginal oil fields (Register and Login to read Full News..)

:: Sports ::

India enters final of Asian snooker championship

Pankaj Advani and Aditya Mehta combined to power India into the final of the Asian snooker team championship in Abu Dhabi thrashing Pakistan 3-0.
India will take on Iran in the final.Mehta gave India a grand start, drubbing Mohammed Asif 73-16.
Advani, recently-crowned continental 6-Red champion, outclassed Asjad Iqbal 83-25 and joined hands with Mehta to trounce Asif and Asjad 92-8.
Meanwhile, Iran defeated Malaysia 3-0 margin in the other semifinal.Earlier, India had defeated the UAE 3-0.