Current Affairs of 7 December


Dr. Krishnamurthy Subramanian
Dr. Krishnamurthy Subramanian
Dr. Krishnamurthy Subramanian - The government appointed Dr. Krishnamurthy Subramanian as the new Chief Economic Advisor. Dr. Subramanian will have a tenure of three years and fill the position lying vacant since Arvind Subramanian quit in late July. 

Skoch Award

Skoch Award - Ministry of New and Renewable Energy, Government of India has been conferred the Skoch Award for National Significance. The award has been conferred on the Ministry considering its purpose and critical role played in installing about 73 GW renewable energy capacity in the country.

AI 4 All Global Hackathon
AI
AI 4 All Global Hackathon - NITI Aayog organised ‘AI 4 All Global Hackathon’ to source sustainable, innovative and technologically-enabled solutions to address various challenges in the development space, with the vision of 'Artificial Intelligence, AI for All'. NITI Aayog is now partnering with Perlin – a Singapore-based AI start up - to launch the ‘AI 4 All Global Hackathon’

China Launched Rover for Moon
China Launched Rover
China Launched Rover for Moon - China launched a rover destined to land on the far side of the moon, a global first that would boost Beijing's ambitions to become a space superpower. The Chang'e-4 lunar probe mission - named after the moon goddess in Chinese mythology - launched on a Long March 3B rocket from the southwestern Xichang launch centre.

HCL Technologies
HCL
HCL Technologies - The country’s third largest software exporter, HCL Technologies, will buy seven software platforms from US-based IBM Corp for $1.8 billion, marking the largest purchase ever by an Indian IT services firm. The all-cash deal entails software in areas including security, marketing and collaboration solutions.

Top Recipient of Remittances
World Bank
Top Recipient of Remittances - India will retain its position as the world’s top recipient of remittances this year with its diaspora sending a whopping USD 80 billion back home, the World Bank said in a report ‘Migration and Development Brief’. India is followed by China (USD 67 billion), Mexico and the Philippines (USD 34 billion each) and Egypt (USD 26 billion).

UN Global Counter-Terrorism Coordination Compact
UN
UN Global Counter-Terrorism Coordination Compact - The UN Secretary-General Antonio Guterres launched a new framework titled ‘UN Global Counter-Terrorism Coordination Compact’ to combat international terrorism. The framework is an agreement between the UN chief, 36 organisational entities, the International Criminal Police Organisation (INTERPOL) and the World Customs Organisation to better serve the needs of member states.

Luxembourg
Free Public Transport
Luxembourg - Luxembourg is set to become the first country in the world to make all public transport free, implementing the move in 2020. The move is aimed at addressing environmental issues and the problem of traffic congestion. 

Penalty Against Reliance Industries
Reliance Industries
Penalty Against Reliance Industries - The government has accused Mukesh Ambani’s Reliance Industries (RIL) and its partners of “unjust enrichment” of over $1.729 billion by siphoning gas from deposits they had no right to exploit. On government’s petition, the Delhi High Court sought a response from RIL and UK-based BP Plc and Niko Resources of Canada. It began on November 4, 2016, when the oil ministry slapped a demand of $1.47 billion on the RIL-BP-Niko for “unfairly” producing natural gas belonging to ONGC. RIL’s KG-D6 block and ONGC’s blocks are adjoining in the Bay of Bengal.

Current Account Deficit Widened
Current Account
Current Account Deficit Widened - India’s current account saw a deficit of $19.1 billion or 2.9% of the gross domestic product (GDP) in July-September quarter (Q2FY19) of this fiscal — the deficit stood at 2.4% in the previous quarter and a benign 1.1% in the year-ago quarter.

Fitch’s Report on Indian Economy
Fitch Rating Agency
Fitch’s Report on Indian Economy - Fitch Ratings slashed India’s GDP growth forecast to 7.2 per cent for current fiscal, from 7.8 per cent projected in September, citing higher financing cost and reduced credit availability. In its Global Economic Outlook released, Fitch estimated India’s GDP growth to be 7 per cent and 7.1 per cent in financial years 2019-20 and 2020-21 respectively.

India Venture Capital Summit
Venture Capital
India Venture Capital Summit - The Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry and the Government of Goa, hosted the annual Startup India Venture Capital Summit in Goa. The theme of the Summit was ‘Mobilizing Global Capital for Innovation in India.’ 

International Year of Millets
Millets
International Year of Millets - Food and Agriculture organisation, FAO Council has approved India’s proposal to observe an International Year of Millets in 2023. Millets consists of Jowar, Bajra, Ragi and minor millets together termed as nutri-cereals. In addition, the FAO Council has also approved India’s membership to the Executive Board of the United Nations World Food Program for 2020 and 2021. 

Exim Bank Extended Loan to Tanzania
Exim Bank
Exim Bank Extended Loan to Tanzania - Export-Import Bank of India (Exim Bank) has extended a credit facility of USD 500 million to Tanzania for water supply projects in the  country.

India and France Signed MoU
India and France
India and France Signed MoU - The Union Cabinet chaired by Prime Minister Narendra Modi has been apprised of Memorandum of Understanding (MoU) between India and France in the field of energy efficiency/energy conservation. The MoU was signed on October 17, 2018.

India and Tajikistan Signed MoU
India and Tajikistan
India and Tajikistan Signed MoU - The Union Cabinet chaired by Prime Minister Narendra Modi has been apprised of Memorandum of Understanding (MoU) between India and Tajikistan on Cooperation on peaceful uses of space Technology for Development. 

India and Russia Signed MoU
India and Russia
India and Russia Signed MoU - The Union Cabinet has been apprised of Memorandum of Understanding (MoU) between India and Russia on Joint Activities under Human Spaceflight Programme. 
India and Algeria Signed MoU
India and Algeria
India and Algeria Signed MoU - Union Cabinet approved the agreement between India and Algeria on cooperation in the field of space sciences, technologies and applications.