17-18 August 2017 Current Affairs

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18 Aug, 2017

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1) The Initial Public Offering (IPO) of which state-owned entity during August 2017 created history by becoming the most successful public-sector IPO in the last decade as it was oversubscribed almost 75 times? – Cochin Shipyard Limited

Explanation: The IPO of Cochin Shipyard Limited created history as it became the most successful public-sector IPO of last decade. It was over-subscribed 75 times thus raising more than Rs. 1.11 lakh crore, as against the offer size of Rs. 1,442 crore.

The issue also saw a strong interest from retail segment with over 20 lakh applications. The qualified institutional buyers (QIB) portion was over-subscribed by more than 63 times and the high net worth individual (HNI) portion was over-subscribed by 287 times.

Cochin Shipyard tapped the market to raise money to part-fund an expansion plan involving the construction of a new dry dock and boosting its ship-repair capacity. The yard, which is in the heart of Kochi (Kerala), is currently executing orders worth a little over Rs. 3,000 crore comprising six ships.

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2) After fixing the price of cardiac stents some time back, the Union Government fixed the ceiling price of which medical product on 16 August 2017? – Knee Implants

Explanation: The Union Govt. fixed the ceiling prices of orthopaedic implants used in knee surgeries from 16 August 2017. Based on the numbers of about 1 to 1.5 lakh orthopaedic knee procedures done in India every year, there will be a saving of about Rs.1500 crore for the people of India per annum.

According to the government this step has been taken so as to prevent unethical profiteering and ensure affordable and quality healthcare for the last man. As per the data analysis of National Pharmaceutical Pricing Authority (NPPA), under Ministry of Chemicals & Fertilizers, there was huge margin in trade.

The NPPA, while fixing the ceiling prices, has kept all the new technology implants in mind and prices have been fixed accordingly. For example the ceiling price of the most widely used cobalt chromium knee implant has been fixed at Rs. 54,720 while its average MRP is Rs. 1,58,324.

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3) The Union Cabinet on 16 August 2017 approved the creation of a single non-lapsable corpus fund for Secondary and Higher education from the proceeds of Cess for Secondary and Higher Education. What is the name of this new corpus fund? – Madhyamik and Uchchtar Shiksha Kosh (MUSK)

Explanation: Madhyamik and Uchchtar Shiksha Kosh (MUSK) is the name of the newly formed non-lapsable corpus fund for secondary and higher education. All proceeds of “Secondary and Higher Education Cess” will be credited into this fund under Section 136 of Finance Act, 2007.

The funds arising from the MUSK would be utilized for schemes in the education sector which would be available for the benefit of students of secondary and higher education, all over the country.

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4) According to the preliminary results from the first-ever synchronised all-India Elephant Population Estimation the total elephant population in India is 27,312. According to this estimate, which state has the largest number of elephants in the country? – Karnataka

Explanation: The preliminary results of the synchronised all-India Elephant Population Estimation were released during August 2017. It pegs India’s Asian elephant population at 27,312.

According to the report, released by the Ministry of Environment, Forests and Climate Change on 12 August 2017, Karnataka has the highest number of elephants (6,049), followed by Assam (5,719) and Kerala (3,054).

The numbers are lower than from the last census estimate in 2012 (between 29,391 and 30,711). But experts say parallels cannot be drawn, because in the 2012 count, various states used different methodologies and the effort was not synchronised across the country; errors and duplication could have led to overestimation.

The estimate, derived from the sighting-based direct count method alone, will be confirmed with estimates from the indirect dung-count method in three months.

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5) Which city was named world’s most liveable city for a record seventh year in a row in the Economist Intelligence Unit’s Global Liveability Report for 2017? – Melbourne

Explanation: Australian city Melbourne has been named world’s most liveable city for a record seventh year in a row. This annual report is published by the Intelligence Unit of ‘Economist’. The city scored an overall rating of 97.5 out of 100 on the liveability index this year, narrowly pipping the Austrian capital Vienna (97.4 points) at the post.

In a repeat of last year’s result, the Canadian cities of Vancouver, Toronto and Calgary took the next positions, with Adelaide in a tie with Calgary for fifth place.

As far as the worst cities in the index, Syrian capital Damascus scored just 30.2 points to remain at the bottom of the list of 140 countries. It was followed by Lagos (Nigeria), Tripoli (Libya), Dhaka (Bangladesh) and Port Moresby (Papua New Guinea) as the 5 worst cities.

Under the liveability index each city is assigned a rating of relative comfort across 30 factors involving stability, healthcare, culture and environment, education and infrastructure.

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The Swedish newspaper was recently asked it to delete the reference made by President Pranab Mukherjee to the Bofors scam in an interview to it, as a claim protested by the Indian Government on 27 May 2015. India has expressed disappointment over the disrespect shown to the President, the newspaper has defended its right to publish what was said during the interview.

Know, who is Vijay Kelkar and what is PPP !

Vijay Kelkar is a renowned economist and a former Finance Secretary. He was appointed head of newly constituted committee to give recommendations to recast the model of Public-Private-Partnership (PPP) model in India. India is one of the largest PPP market with over 900 projects. The Kelkar committee will review the PPP policy, suggest a better risk-sharing mechanism between private developers and the government after analysing such projects.

Know, who is Yaduveer Krishnadatta Chamaraja Wadiyar !

Yaduveer Krishnadatta Chamaraja Wadiyar was crowned as the new Maharaja of of Mysuru (Mysore) royal family. He is the 23-year old grandson of Princess Gayathri Devi, who was the eldest daughter of the last Maharaja of Mysore, Sri Jayachamarajendra Wadiyar. The coronation was held at Mysuru’s famous Amba Vilas Palace, which was decked up for the occasion.

Know about Sepp Blatter!

Swpp Blatter, was re-elected as FIFA president for a fifth term at the 65th Annual Congress of FIFA held at Zurich for four year term.

Prince Ali bin al-Hussein of Jordan stood against Blatter in this election. It is worth mentioning that FIFA is going through a major controversy regarding corruption in the organisation with two FIFA vice presidents and a recently elected FIFA executive committee member still in custody.

 


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