Current Affairs Current Affairs August 2018

 To promote a culture of innovation and research in higher education, the human resource development (HRD) ministry launched the Atal Ranking of Institutions on Innovation Achievements (ARIIA), Union minister Prakash Javadekar announced. Named after former Prime Minister Atal Bihari Vajpayee, the ARIIA "will rank educational institutions for innovation output based on all major indicators and parameters used globally". 
Source- Hindustan Times

 The Indian Space Research Organisation (ISRO) will outsource the production of the Polar Satellite Launch Vehicles (PSLVs) and Small Satellite Launch Vehicles (SSLVs) to private Industries. The Indian Space agency Chairman K Sivan informed that private industries will play a major role in capacity building. The ISRO will launch Gaganyaan, India’s first manned mission to outer space in 2020. As per the announcement, the Indian Air Force will identify six persons who can be trained to be astronauts. The assistance of the country’s first astronaut Rakesh Sharma and that of foreign space agencies will be sought for the training of astronauts. 
Source- The Hindu

 The 4th BIMSTEC Summit began in Kathmandu, Nepal. The two-day Summit will be held with the main focus on countering terrorism, enhancing regional connectivity and boosting trade. The theme of the summit is 'Towards a peaceful, prosperous and sustainable Bay of Bengal region'. Prime Minister Narendra Modi will hold bilateral talks with leaders of BIMSTEC countries on the sidelines of the summit.
Source- DD News

  The government of India and the Asian Development Bank (ADB) signed a $375 million loan agreement to contribute to double farming incomes in Madhya Pradesh by expanding irrigation networks and system efficiency. The Madhya Pradesh Irrigation Efficiency Improvement Project will develop 125,000 hectares of new, highly efficient and climate resilient irrigation networks and improve water use efficiency in more than 400 villages, benefiting over 800,000 people in Madhya Pradesh. 
Source- Press Information Bureau (PIB)

  The Department of Biotechnology (DBT), Ministry of Science and Technology, and the International Energy Agency (IEA) signed an MoU on Enhancing Innovation for Clean Energy Transition. The MoU seeks to deepen co-operation in support of clean energy innovations to accelerate the research, development, and demonstration (RD&D) of clean energy technologies in India and will help support the generation of data for policymaking and improve knowledge of good policy practices for innovation in India and around the world. 
Source- DD News

 The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi gave its approval for implementation of an umbrella scheme ‘Ocean Services, Technology, Observations, Resources Modelling and Science (O-SMART)’. The scheme encompasses a total of 16 sub-projects addressing ocean development activities such as Services, Technology, Resources, Observations and Science. The CCEA approved the scheme for implementation during the period from 2017-18 to 2019-20 at an overall cost of Rs 1623 crore. The scheme covers a total of 16 sub-projects, which address ocean development activities such as services, technology, resources, observations and science. 
Source- Press Information Bureau (PIB)

 The Reserve Bank of India has released its annual report in Mumbai. It was mentioned in the report that due to the evolving economic conditions, real GDP growth for 2018-19 is expected to increase to 7.4% from 6.7% in the previous year. The RBI stated that its monetary policy will continue to be guided by the objective of achieving medium-term target for retail inflation of 4%. 
Source- AIR World Service

 Google announced Project Navlekha at its 4th edition of Google for India Event held in New Delhi. Project Navlekha has been launched to enable Indian publishers of regional languages to publish their content online, without facing the trouble of selling printed copies.  The official website of Navlekha can be easily interpreted by users. Users can also obtain help from experts to set up their publication website. 
Source- The Indian Express

  The third edition of World’s Biggest Open Innovation Model - Smart India Hackathon 2019 - was launched by the Union Minister for Human Resource Development, Prakash Javadekar in New Delhi. MHRD, AICTE, Persistent Systems and i4c have joined hands to make a hat trick with their highly popular and innovative Smart India Hackathon initiative (SIH). SIH-2019 is a nationwide initiative to provide students a platform to solve some of pressing problems we face in our daily lives, and thus inculcate a culture of product innovation and a mindset of problem-solving. For the 1st time, Private industry/organisations and NGOs can also send their problem statements to students under SIH-2019.
Source- Press Information Bureau (PIB)

  The Central government and the World Bank have signed 300 million dollar loan agreements for India Energy Efficiency Scale up Programme. They signed 220 million dollar Loan Agreement and an 80 million Guarantee Agreement for the Efficiency Scale-Up Program. The Program, to be implemented by the Energy Efficiency Services Limited (EESL), will help scale-up the deployment of energy saving measures in residential and public sectors, strengthen EESL’s institutional capacity, and enhance its access to commercial financing. 
Source- AIR World Service


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