Current Affairs for IAS Exams - 15 July 2015

Current Affairs for IAS Exams – 15 July 2015

:: National ::

Modi’s ambitious Skill India Mission

Prime Minister Narendra Modi’s ambitious Skill India mission is expected to be a mass campaign involving the youth to encourage them to take up skilling and vocational training to improve their employability.
The mission, which will be launched on Wednesday by the Prime Minister, is likely to see a large turnout of Union ministers including the finance minister, railway minister as well as chief ministers.
“Nearly 18 ministers including Union ministers as well as chief ministers would be attending the event,” said a senior government official, adding that a large number of private skill trainers would also attend.
Invitees from the private sector include Tata Group chairman Cyrus Mistry, Mahindra Group chairman Anand Mahindra, chiefs of industry associations as well as Teamlease Services chairman Manish Sabharwal and Romesh Wadhwani of the Wadhwani Foundation.
The Skill India mission, which is being launched on the World Youth Skills Day, will also be simultaneously launched by state governments.
“While a number of chief ministers will be in New Delhi, each of the states too will launch the Mission to create awareness amongst youth about the need for skilling,” said the official.
Data from the Census 2011 and 68th round of the National Sample Survey revealed than an estimated 10.4 crore fresh workers would enter the labour market and require skill training by 2022, and 29.8 crore of the existing workforce will require additional skill training over the same time period.
Accordingly, the government now plans to skill 40.2 crore workers by 2022 and a number of schemes including the new National Skill Development and Entrepreneurship 2015, Pradhan Mantri Kaushal Vikas Yojana and the skill loan scheme will be launched.
The Prime Minister will also unveil a new logo and slogan for the Skill India mission and give out letters of employment to some of the students who have successfully undergone skill training.

:: International ::

European stocks pause before Greek vote on bailout terms

Yields on peripheral bonds dipped, while European stocks and the euro held their breath on Wednesday as fractious parties in the Greek parliament prepared to vote on EU-prescribed austerity measures needed to unlock a third bailout.
Lawmakers from Prime Minister Alexis Tsipras' Syriza party and their allies argued behind closed doors about whether to back the reforms. Tsipras defended the deal, saying it was better than the alternative of being forced out of the euro zone.
The parliamentary vote is seen as the key hurdle to a final agreement for the bailout, which could end -- at least temporarily -- months of increased uncertainty, volatility and frequent risk aversion in financial markets.
The pan-European FTS Eurofirst 300 index fell 0.1 percent to 1,578.71, having risen for five days in a row until Wednesday. Yields on German Bunds, top-rated assets often sought in times of uncertainty, dipped 2 basis points to 0.82 percent. The euro, which has lost 1.5 percent this week, was little changed at $1.1001.
But 10-year yields on Spanish, Italian and Portuguese bonds, seen as vulnerable to spillovers from the Greek crisis, fell 2-3 basis points to 2.06 percent, 2.08 percent and 2.75 percent respectively.

Ecoside of south china sea (Register and Login to read Full News..)

:: Business ::

India,s big Defence Deals Worth $4.7 Billion, Boeing Spy Planes

The Indian Army will be replacing its vintage anti-aircraft guns, decided the Defence Acquisition Council (DAC) - headed by the Defence Minister Manohar Parrikar -- that met late this evening. The committee has cleared purchase of defence equipment worth Rs. 30,000 crore, sources said.
The new guns will have to be bought from Indian companies. But no Indian firm has yet demonstrated the capacity to manufacture these weapons. The army is likely to get 428 guns and it is likely to cost the exchequer Rs. 16,900 crore.
Currently, the Indian army uses L-70 and Zu- 23 mm guns of 1950s vintage, acquired from Swedish manufacturer Bofors and from the erstwhile Soviet Union's Podolsky Electromechanical Plant.
In 2013, then UPA Government had issued global tenders for anti-aircraft guns and invited Israeli, British, French, Russian and Polish firms to compete. None, however, responded as they did not find the proposal lucrative enough and the tender was later cancelled.
Besides, the DAC has allowed the Indian Navy to buy four more P8i maritime surveillance aircraft from the US.
The Indian Navy has eight such long-range maritime surveillance and anti-submarine aircraft made by Boeing. The purchase of four more is likely to cost the exchequer Rs. 4,380 crore.

Centre,s new initiative for trade facilitation (Register and Login to read Full News..)

:: Sports ::

IPL verdict effect, Champions League T20 discontinued

The Champions League Twenty20 tournament, run since 2009 by the BCCI, Cricket Australia and Cricket South Africa, has been discontinued with immediate effect because of lack of interest.
The 2015 edition, which would have been the seventh and was scheduled for September and October, has been cancelled because of the tournament's "limited public following", organisers said in a news release on Wednesday.
Launched by the three cricket boards in 2008, the competition offered a highly lucrative prize pool of $6 million with $2.5 million going to the winners.
It brought together teams from the India Premier League, Australia's Big Bash League, South Africa's Ram Slam T20 Challenge and Caribbean Premier League along with other qualifiers.
The inaugural event was cancelled after the death of 164 people in coordinated attacks on Mumbai in November 2008, however, and the tournament failed to gain any real traction thereafter.
The Mumbai Indians and Chennai Super Kings were the most successful teams in the competition after they both won it twice with the Super Kings securing what will be the final title in Bangalore last year.

India Whitewash Zimbabwe

India skipper Ajinkya Rahane on Tuesday applauded his team for playing as a unit, saying that every member of the side contributed in the 3-0 whitewash against Zimbabwe in the ODI series.
Despite a sloppy start, Kedar Jadhav (105 not out) and Manish Pandey (71) put on a crucial 144-run stand to help India post 276 for five and then eventually win the match by 83 runs.
Rayudu was awarded the Man-of-the-Series award for his 124 not out and 41 runs in the first and second ODIs, respectively.
Man-of-the-Match Jadhav said it was a great feeling to get his maiden century.