DAILY CURRENT
AFFAIRS: 29 DEC 2017
(DAILY NEWS INDIA)
1. PRESIDENT DEDICATED 4 PROJECTS TO ANDHRA PRADESH
i. The President of India, Ram Nath Kovind, dedicated to the
people of Andhra Pradesh 4 projects of the State Government at a function held
at Velagapudi, Andhra Pradesh.
ii. The Projects were Andhra Pradesh Fibregrid Project, Andhra
Pradesh Surveillance Project, Drone Project; and Free Space Optical
Communication system. The President focused on the 24/7 hyper-connected world
and the online presence of the government.
2. INDIA TO OVERTAKE UK, FRANCE TO BECOME 5TH-LARGEST ECONOMY IN
2018
i. India is set to leapfrog Britain and France in 2018 to become
the world’s fifth-largest economy in dollar terms.
ii. The Centre for Economics and Business Research consultancy’s
2018 World Economic League Table painted an upbeat view of the global economy,
boosted by cheap energy and technology prices. India is currently in 7th place
in the top world economies with $2 trillion.
iii. Top 3 Economies of the world according to the World Economic
Forum are-
The USA ($18 trillion),
China ($11 trillion),
Japan ($4.4 trillion).
3. PRESIDENT INAUGURATED 100TH INDIAN ECONOMIC ASSOCIATION
CONFERENCE
i. President Ramnath Kovind inaugurated the 100th Annual Conference of the Indian Economic
Association at Acharya Nagarjuna University in Guntur of Andhra Pradesh. The
event will be held for 4 days.
ii. Indian Economic Association is a registered body of Indian
economic professionals with an objective of providing a forum for debate and
discussion of policy-oriented issues.
4. SBI GETS BOARD APPROVAL TO RAISE RS 8,000 CR TO COMPLY BASEL III
i. According to the country's largest lender, SBI, its board has
approved raising Rs 8,000 cr through various sources, including masala bonds,
to meet Basel III capital norms.
ii. Masala bonds are rupee denominated specialised debt
instruments that can be floated in overseas markets only to raise capital.
Banks in India have to comply with the global capital norms under Basel III by
March 2019, 3 months later than the internationally agreed time frame by
January 2019.
5. AGRICULTURE MINISTER LAUNCHES LIVESTOCK DISEASE FOREWARNING
MOBILE APP
i. Union Agriculture and Farmers’ Welfare Minister, Shri Radha
Mohan Singh has launched Livestock Disease Forewarning –Mobile Application. The
app is developed by ICAR-National Institute of Veterinary Epidemiology and
Disease Informatics, Bengaluru.
ii. Apart from early warning, the app will also provide
information about clinical samples for the diagnosis in case of the epidemic so
that immediate action can be taken in case of the epidemic.