Daily Current Affairs Updates- 13th August 2015

    Daily Current Affairs Updates- 13th August 2015
    Daily Current Affairs Updates- 13th August 2015:                            
    Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.

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    1). TheCabinet Committee on Economic Affairs(CCEA)approvedRs.1750 crore for strengthening the drug regulatory system
    ·        The total amountRs. 1750 is divided into two parts
    a)   1st part –Rs. 900 crore for strengthening central structures
    b)   2nd part –Rs. 850 crore for strengthening the State structures
    ·        This strengthening and up-gradation includes the following
    a)   Setting up new laboratories for testing drugs, medical devices and cosmetics
    b)   Provision of additional equipment and manpower in existing drug testing laboratories
    c)   Making mobile drug testing laboratories
    d)   Creation of additional manpower for regulatory structures
    e)   Introduction of organization wide e-Governance and Information Technology enabled online services
    f)    Setting up training academy for both the Central and State regulatory and drug testing officials
    ·        This strengthening and up-grading is done due to the ban imposed by US and EU on drugs manufactured in India
    ·        This will help Indian drug manufactures to enhance
    a)   Quality
    b)   Safety
    c)   Efficacy
                           Of drugs and other medical products
    ·        This will increase the export of pharmaceutical products from India thus increasing the growth of domestic medical devices sector
    ·        India is one of the largest manufacturers of drugs and exports pharmaceutical products to over200 countries

    2). TheMinistry for New and Renewable Energysanctioned1,500 MW ultra mega solar power park forAndhra Pradesh
    ·        This Solar Park will be set up inKadapa district by NTPC
    ·        This will be the3rdmega park of over1,000 MW to be set up in Andhra Pradesh. Previously 2 – mega parks of 1000 MW each were set up by NTPC in the following districts
    a)   Anantapur
    b)   Kurnool
    ·        Andhra Pradesh Genco approved to set up a500 MW solar park inAnantapur

    3). Union Cabinet approved theMoU betweenAmerica andIndia to establish thePACEsetter Fund
    ·        Partnership to Advance Clean Energy(PACE) setter Fund is a fund that supports thePromoting energy Access through Clean Energy(PEACE), an initiative between the US and India through PACE –2009.
    ·        US and India together raised a fund of8 million US dollars on a50% sharing basis.
    ·        The approval of this MoU will help in commercialization of innovative off-grid clean energy solutions by providing early stage funds.
    ·        The MoU was signed on30th June 2015.

    4). Central Government approved‘Soft Loan Scheme’toSugar Mills to enable the payment of cane dues of farmers
    ·        Soft Loan Scheme
    a)   The Banks has to pass on the financial assistance directly to the listed cane growers
    b)   This scheme extends only to those sugar industries which have cleared at least50% of their outstanding arrears
    c)   The government will bear the interest subvention cost to the extent ofRs. 600 crore forone year
    d)   After clearing the bank dues of farmers the balance left will be credited into mill accounts
    ·        Previous steps taken by the Government to help Sugar Industries are as follows:
    a) Export incentive on raw sugar was increased fromRs. 3200/MT to Rs. 4000/MT
    b) Funds extended on14 lakh MT of raw sugar exports as against7.5 lakh MT
    c)   Increased the import duty to40%
    d)   Abolished theDuty Free Import Authorization Scheme
    e)   Reduced the export obligation period from 18 months to 6 months under theAdvanced Authorization scheme
    f)    Remunerative prices forEthanol supplied for blending increased toRs. 49 per liter
    g)   Excise duties on ethanol has been abolished

    5). Jethabhai Patel elected asChairman of Gujarat Cooperative Milk Marketing Federation(GCMMF)
    ·        Previously Patel was theChairman of Sabarkantha District CooperativeMilk Producers Union Limited from2010
    ·        He was aninterim chairman of GCMMF since2013
    ·        He succeededVipul Chaudhary
    ·        Gujarat Cooperative Milk Marketing Federation(GCMMF)
    a)   Asia’s largestmilk cooperative and apex marketing body comprising17 dairy unions of Gujarat
    b)   It markets theAmul andSagar brands of dairy products in India and overseas
    c)   It was formed byDr. Verghese Kurien in1973, jointly owned by3.6 million milk producers in Gujarat
    d) He was the chairman of GCMMF for more than30 years (1973-2006)
    e)   It daily procures14.85 million liters per day from18,536 village milk cooperative societies
    6). China andPakistansigned20agreements worth1.6 billion dollars to implement the ambitiousChina-Pakistan Economic Corridor(CPEC) project
    ·        Agreements were signed at the CPEC Forum held atKaramayinXinjiang Province of China borderingPakistan occupied Kashmir(PoK)
    ·        Both countries also issuedKaramay Manifesto
    ·        It is thebiggest connectivity project between the 2-countries with an investment of46 billion dollars
    ·        This project involves building railways, highways and pipelines to decrease import routes between China andMiddle East by12,000 kms
    ·        This project boosts economic cooperation, political trust and cultural exchanges between China and Pakistan
    ·        As this corridor passes through the disputed territory of PoK ,Indiahas conveyed itsobjections to China
    ·        CPEC Project
    a)   3000 kmstrategic CPEC was formulated by China
    b)   It is a part of the6-economic corridors underSilk Road Economic Belt and21st Century Maritime Silk Road
    c)   It connectsXinjiang Provice with Pakistan’sGwadar Port
    d)   Launched by Chinese PresidentXi Jinping in April 2015 in Pakistan
    e)   51agreements were signed out of which30were linked to this corridor
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