Daily News

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No bids for Air India stake sale

The government received zero bids from potential players, to privatise Air India.

It proposed to sell 76% of Air India along with low-cost subsidiary Air India Express and a 50% stake in AISATS, a ground-handling joint venture with Singapore Airport Terminal Services.

The new owner will have to take the debt and current liabilities of ₹33,392 crore, while the government will park nearly ₹25,000 crore in a special purpose vehicle.

Did you Know

In 2001, the Atal Behari Vajpayee government’s attempt to shed a stake in the airline had met with a similar fate.

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Andhra Pradesh nod for unemployment allowance

The Andhra Pradesh government decided to pay ₹1,000 a month as unemployment allowance to eligible youth.

Approximately, 10 lakh graduates/diploma holders will be benefitted.

Did you Know

C.M- N Chandrababu Naidu,
Governor- ESL Narsimhan,
Capital – Amaravati.

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Upgraded Pinaka rocket successfully test-fired

• An upgraded version of Pinaka rocket was successfully test-fired from the Proof & Experiment Establishment (PXE) at Chandipur in Odisha.

• Pinaka is the multiple rocket launcher produced in India and Developed by by the Defence Research and Development Organization (DRDO) for Indian Army.

• The system has maximum range of 40 km for Mark I and 75 km for Mark II.

• The system is mounted on a Tata truck for mobility.

Did you Know

• Pinaka saw the service during the Kargil war.
• Designed in 1986.

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PM launches three Apps in Singapore

• PM Modi launched three digital payment schemes, Bharat Interface for Money (BHIM), RuPay and the State Bank of India"s online international Rupee remittance app, at a business event, Business, Innovation and Community.

• The RuPay digital payments system was linked with Singapore"s Network for Electronic Transfers (NETS).

• RuPay users will now be able to make payments at all of NETS acceptance points across Singapore.

• RuPay beginning with the first cross-border usage.

Did you Know

• BHIM is a mobile app developed by National Payments Corporation of India, based on the Unified Payment Interface.
• App allows the user to instantly transfer money between bank accounts of any two parties.
• RuPay is an Indian domestic card scheme conceived and launched by NPCI.
• It was created to fulfil the Reserve Bank of India’s desire to have a domestic, open loop, and multilateral system of payments in India.

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US changes name of Pacific Command

The US has renamed Pacific Command to US Indo-Pacific Command.

The renaming recognizes India"s increasing military relevance for the US.

The US has emerged as India"s No. 2 weapons supplier.

Did you Know

United States Indo-Pacific Command is a unified combatant command of the United States Armed Forces responsible for the Indo-Asia-Pacific region.
Founded on 1 January 1947.
Headquarter- Camp H.M. Smith, Hawaii, U.S,
It is the oldest and largest of the unified combatant commands

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Denmark banned burqa and niqab

The Danish Parliament passed a law banning the Islamic full-face veil in public spaces, becoming the latest European country to do so.

According to law, anyone who wears a garment that hides the face in public will be punished with a fine.

Wearing a burqa, which covers a person’s entire face, or the niqab, which only shows the eyes, in public will lead to a fine of 1,000 kroner ($156).

Repeated violators will be fined up to 10,000 kroner.

Did you Know

Capital of Denmark- Copenhagen,
Currency – Kroner,
Prime Minister- Lars Løkke Rasmussen,
France was the first European country to ban the niqab in public places with a law that took effect in 2011.

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Fiscal deficit for FY18 at 3.5% of GDP

India’s fiscal deficit in the year ended March 2018 came in at 3.53% of gross domestic product, in line with the revised estimates.

India revised its fiscal deficit target in February to 3.5% of GDP from 3.2% of GDP for the 2017/18 fiscal year.

For the current fiscal year, the government estimates to trim the deficit to 3.3% of GDP.

Did you Know

A fiscal deficit occurs when a government"s total expenditures exceed the revenue that it generates, excluding money from borrowings. Deficit differs from debt, which is an accumulation of yearly deficits.
Fiscal Deficit = Total expenditure – Total receipts excluding borrowings.

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Intra-State e-waybills to take effect in final 8 States

The e-waybill system for intra-State movement of goods will be implemented for the final eight States over the first three days of June.

The new system would be implemented for intra-State transport in Chhattisgarh, Goa, Jammu & Kashmir, Mizoram, Odisha, and Punjab on June 1, in Tamil Nadu on June 2 and in West Bengal, on June 3.

Did you Know

E-Way Bill is an electronic way bill for movement of goods which can be generated on the e-way Bill Portal. Transport of goods of more than Rs. 50,000 in value in a vehicle cannot be made by a registered person without an e-way bill.

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Zidane Quits Real Madrid

Real Madrid coach Zinedine Zidane quits the Spanish giant.

He became the first coach in history to win three successive Champions League titles.

Did you Know

Real Madrid is a professional football club based in Madrid, Spain.
Founded on- 6 March 1902.

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Uganda slaps tax on social media users

Ugandan users of Whatsapp, Facebook, Skype and other social media will from July have to pay a daily tax, according to a new law.

Uganda’s parliament passed a law, imposing a tax of 200 shillings ($0.05) a day on users.

Did you Know

President of Uganda- Yoweri Museveni,
Capital - Kampala,
Currency - Ugandan shilling.