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CURRENT AFFAIRS 1st Feb., 2015

1. The planning ministry headed by Rao Inderjit Singh, a minister of state with independent charge will be separate from NITI Ayog. Prime Minister Narendra Modi who is chairman of the Aayog will host the first full meeting of the Aayog on February 6 and the first meeting of the governing council of the Aayog comprising of chief ministers and Lt Governors on February 8.

2. Agni-5 was launched successfully by the Army from the wheelers Island. It is now a couple of test-launches from operational service with the military's Strategic Forces Command. The SFC's trailer-mounted, canisterised Agni-5 fleet can be quickly moved on existing roads, providing the ultimate deterrent against any enemy within 5000 km.

3. T Suvarna Raju took charge as chairman of Hindustan Aeronautics Ltd (HAL), replacing R K Tyagi. Raju is credited with securing the first patent for HAL, in January 2002.

4. IIndia and China jointly launched the VISIT INDIA YEAR in China in Beijing during the visit of Indian External Affairs Minister Sushma Swaraj to China. The initiative is aimed at enhancing the flow of tourists from China to India and to strengthen the people to people bond. China will support the promotion of Indian tourist resources in its country.

5. Krishna Chaudhary was appointed as the Director General (DG) of the Indo-Tibetan Border Police (ITBP). At the time of appointment, he was working as the Director General of the Railway Protection Force. Chaudhary succeeded Subhas Goswami who retired on 31 December 2014.

CURRENT AFFAIRS 31st Jan., 2015

1. Indian economy recorded 6.9 per cent growth in 2013-14, almost 50 per cent higher than the 4.7 per cent estimated earlier, according to Central Statistics Office (CSO). The growth estimate was revised on account of the CSO’s move to adopt 2011-12 as the base year for computation of national incomes.

2. Centre is planning to enrol workers in the unorganised sector aimed at providing a social security net. Smart card Identity cards named ‘You Win’ will provide facilities such as cash, hospital and pension benefits. Labour Ministry with the participation of State Governments is trying to cover them under various schemes to provide them with health cover and scholarships for their children.

3. Reserve Bank of India has set up a High Powered Committee to re-examine and recommend an appropriate set of businesses, size, conversion criteria (into a mainstream bank) and licensing terms for the Urban Cooperative Banking Sector. The committee will be chaired by R Gandhi, Deputy Governor, RBI.

4. Assocham and Institute of Cost Accounts of India (ICAI) will soon set up a virtual window that will let the SMEs to connect with global investors and small-scale industry bodies and act as an online resource for all their information needs. SMEs provide employment to 11 crore people and contribute 8 per cent to gross domestic product (GDP).

5. Pension Fund Regulatory and Development Authority (PFRDA) must provide enabling framework for more pension products and wider coverage of population, said Jayant Sinha, Minister of State for Finance. The pension regulator may consider alternative investment funds like venture capital funds and growth capital funds to encourage entrepreneurship in the country

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