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Current Affairs 04.05.2017

Banganapalle Mango of Andhra Pradesh gets GI Tag

 The Registrar of Geographical Indications Registry, Chennai, has accorded GI Tag for the much famed Banganapalle Mango of Andhra Pradesh.

Henceforth, Andhra Pradesh government will be the registered proprietor of the GI tag for Banganapalle mangoes.


Union Cabinet Clears New National Steel Policy

 The Union Cabinet has given its approval for National Steel Policy (NSP) 2017 to give impetus to the steel sector.

The policy aims to enhance domestic steel consumption and transform Indian steel industry into a technologically advanced and globally competitive steel industry.

The new policy favours the domestic manufacturers.


Vijayawada Airport becomes International Airport

 The Union Cabinet has granted international airport status for the Vijayawada Airport.

The approval was given as per provisions of Andhra Pradesh Reorganisation Act, 2014.

The decision was taken as the airport is witnessing significant growth in passenger traffic and also to cater to the demands made by airlines as well as the Andhra Pradesh government.

The airport is currently undergoing infrastructural upgradations and improvement in facilities for international operations.

The upgradation works are being carried out by the Airports Authority of India.


Apple’s Cash Reserve worth 2/3rd of India’s Forex Reserve

 Apple has reported over $256 billion in cash and marketable securities.

In the previous year, Apple’s earnings report for the January-March quarter was $233 billion.


China to Launch its Own Encyclopaedia as a Rival to Wikipedia

 China plans to launch its own online encyclopaedia next year rivalling Wikipedia and Britain’s Encyclopaedia Britannica.

The main objective of this project is to guide public thought.

China fears that its citizens who use Wikipedia are being corrupted by foreign influences.

The project will be executed under the guidance of the state-owned China Publishing Group.

The project would be developed in such a way that it serves as a symbol of  China’s cultural and technological development and promotes its soft power and international influence.


World’s Highest Railway Bridge to Come up Over Chenab River

 World’s highest railway bridge which will be 35 metres taller than the Eiffel Tower is to come up over the Chenab River in Jammu and Kashmir at a cost of around Rs.

1,100 crore in around two years from now.

The bridge will connect Bakkal (Katra) and Kauri (Srinagar).

The bridge will be a part of the Udhampur-Srinagar-Baramulla rail link project.

Once completed, the bridge will be an engineering marvel.

The project is expected to be completed by 2019.

After completion of the bridge it will surpass the record of the Beipan river Shuibai railway bridge (275 m) in China.

The bridge is expected to contribute to the economic development of the state and improve its accessibility.


$770 billion Worth of Black Money entered into India during 2005-2014: GFI

 US-based think tank Global Financial Integrity (GFI) in its report titled ‘Illicit Financial Flows to and from Developing Countries: 2005-2014’, has estimated that $770 billion worth of black money entered India during 2005-2014.

During the same time period, the think tank estimates the exit of $165 billion in illicit money out of the country.

It translates into 3% of India’s total trade of $5500.744 billion between the time period 2005-2014.

This is the first global study that has placed equal emphasis on illicit outflows and inflows.

As per the report, in 2014 alone, $101 billion black money entered India while USD 23 billion exited.


Indian Army Test-Fires Advanced Version of Brahmos Cruise Missile

 Indian Army has successfully test-fired advanced Block-III version of Brahmos cruise missile in the Andaman and Nicobar Islands.

During the test, the Brahmos cruise missile had successfully hit the land-based target with desired precision in a top attack configuration demonstrating its high level and complex manoeuvring and its unmatched lethality of hitting the target with at most precision.


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