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Current Affairs of 4th July

Anjali Singh, Published On:04-Jul-2019

 

                       Current affairs

1. Jammu and Kashmir will host its first­ever investor summit in September­-October of this year in Srinagar, with a chapter in Jammu to attract investment and counter perceptions about the State. 

  •  Government officials said they are expecting participation from at least eight countries, besides the rest of India. 
  • The State is presently under President’s Rule, which was extended by another six months last week after a vote in Parliament. 

2.Chief Minister Arvind Kejriwal on July 12 will flag off the first trip of ‘Mukhyamantri Tirth Yatra Yojana’, under which the government will pay for pilgrimage of citizens, above 60 years of age, to different places in India. 

  • It will include their travel, stay, and food.  Revenue Minister Kailash Gahlot said that the first trip of Delhi­ Amritsar Attari Border ­Anandpur Sahib corridor, via train, will be flagged off by Mr. Kejriwal on July 12 evening from Safdarjung railway station and the group will be back on July 16.  
  • The second tour on the Delhi­ Vaishno Devi ­Jammu corridor will be from July 20 to 24

3.The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Economic Survey 2018-19 in Parliament. 

  • India has been undertaking one of the world’s largest renewable energy expansion programmes, the Survey notes that the share of renewable energy is progressively increasing in the Indian electricity mix.  
  • As per the Economic Survey, the share of renewable (excluding hydro above 25 MW) in total generation was around 10 per cent in the year 2018-19 compared to around 6 per cent in 2014-15.  
  • India stands fourth in wind power, fifth in solar power and fifth in overall renewable power installed capacity.  The cumulative renewable power installed capacity (excluding hydro above 25 MW) has more than doubled from 35 GW on 31st March, 2014 to 78 GW on 31st March, 2019.  The target is to achieve an installed capacity of renewable based power of 175 GW by the year 2022. 
  • The Survey estimates that additional investments in renewable plants upto year 2022 (without transmission lines) would be about USD 80 billion at today’s prices and an investment of around USD 250 billion would be required for the period 2023-2030.  
  • Thus, on an annualized basis, investment opportunity for over USD 30 billion is expected to come up for the next decade and beyond.

 

4.The Reserve Bank of India constituted a six-member committee to strengthen the corporate governance framework of systemically important Core Investment Companies (CICs)

  • These are Non-Banking Financial Companies (NBFCs) which have their assets predominantly as investments in shares for holding stake in group companies but not for trading. CICs also do not carry out any other financial activity. 
  • The working group will examine regulatory framework, enhance onsite and offsite surveillance of these companies, suggest changes in registration criteria including the practice of multiple CIC within a group and other such assessment to strengthen the corporate governance framework. The committee report is to be submitted by October 31, 2019. 

5.The South Central Railway (SCR) has added another feather to its cap by commissioning the longest electrified tunnel in Indian Railways

  • The tunnel, measuring 6.6 km, is situated between Cherlopalli and Rapuru stations and is part of the 113­ km new railway line completed recently between Obulavaripalli– Venkatachalam–Krishnapatnam Port.
  • At present, the average travel time taken by goods train from Krishnapatnam Port to Obulavaripalli is 10 hours. With the commissioning of the new line, it would be reduced to five hours.
  • The electrified tunnel has been constructed in the shape of a horse shoe on the New Australian Tunnelling Method, at a cost of ₹460 crore. The height of the tunnel (rail level to roof ) is 6.5 metres and the minimum height of the contact wire maintained at 5.2 metres.

6.ICICI Bank has tied up with a non­banking financial company IndoStar Capital for financing small and medium fleet owners to buy new and old commercial vehicles. 

  • Under this partnership, IndoStar will originate and service the customers through the entire loan life cycle, including sourcing, documentation, collection and loan servicing, ICICI Bank said in a release. ICICI Bank will provide funding to these customers

            Appointment and Resignation

7.Rahul Gandhi formally quits as Congress president

Rahul Gandhi said in a letter that it had been an honour to serve the party whose values and ideals have served as the "lifeblood of this beautiful nation"

  • As president of the Congress, he said he is responsible for the loss of the 2019 Lok Sabha election. 
  • Gandhi, who suggested that the Congress Working Committee be entrusted with the task of finding a new party president and it would not be correct for him to select his successor, also said he owes the country and his organisation a debt of tremendous gratitude and love.

                            Obituary

8.Sudarshan Aggrawal, who was the governor of Uttarakhand from 2003 to 2007, passed away


9.Birla Group patriarch B K Birla passed away in Mumbai at the age of 98.

A doyen of the Indian industry, Birla had been suffering from age-related ailments.

  • Birla was the chairman of Century Textiles and Industries and had been active in business since the age of 15.

10.Automobile industry legend Lee Iacocca, who is credited with creating the iconic Ford Mustang and saving Chrysler from bankruptcy, passed away. 

                         Sports

11.One of the most exciting batsmen to represent India, Ambati Rayudu, announced his retirement from all forms of cricket. 

  • The 33 ­year ­old communicated his decision in a letter addressed to the Committee of Administrators of Hyderabad Cricket Association (HCA). 

12.Hima Das, the under­20 World champion quarter miler who had been struggling with a back injury, won the women’s 200m gold in the Poznan Athletics Grand Prix.  

  • Hima, who has a personal best of 23.10s, clocked 23.65s while teammate V.K. Vismaya pipped Poland’s Iga Baumgart­Witan to finish third in a personal best 23.75s

Source: The Hindu, The Economic Times, The Indian Express, Press Information bureau website






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