Hyperloop Project in Andhra Pradesh

• Andhra Pradesh is all set to get India’s first Hyperloop transportation project between Vijayawada and Amaravati (35 km).
• Hyperloop is a very fast mode of transportation, it is a system of magnetically levitating capsules called pods that are sent at high speeds through low-pressure tubes.
• Andhra Pradesh Economic Development Board has signed MoU with Elon Musk’s Hyperloop Transportation Technologies for the same.

SLINEX 2017: India-Sri Lanka Naval Exercise

• SLINEX India-Sri Lanka biennial joint Maritime naval exercise. It focuses on reinforcing strong neighbourly ties between both countries underscored by extensive maritime interaction and improved understanding.
• The 7th SLINEX has started near Vishakhapatnam (Andhra Pradesh) in the Bay of Bengal.
• The seven days exercise will be conducted from 7th to 14th September 2017.

11 MoUs signed between India and Myanmar

• 11 Memorandums of Understanding signed between India & Myanmar during the visit of Indian Prime Minister Narendra Modi after talks with Myanmar’s State Counsellor Aung San Suu Kyi.
• These MoUs belong to various sectors. Few of them are to organise cultural exchange programme for the period 2017-2020,  strengthen democratic institutions, to further build their multifaceted partnership.

OYO Rooms raised $250 million in SoftBank led funding

• OYO Rooms a Gurugram based hotel aggregator start-up founded in 2013 has raised $250 million in new funding round.
• The round was led by SoftBank Vision Fund, other participants were Sequoia Capital, Greenoaks Capital, Hero Enterprise.
• This round has raised the valuation of OYO Rooms to around $850 million.million.

UJALA Scheme in Malaysia

• The success of India’s zero-subsidy UJALA (Unnat Jyoti by Affordable Lighting for All) Scheme is all set to get replicated in Malaysia.
• Melaka State of Malaysia has launched the scheme with India’s Efficiency Services Limited (EESL) and logistic support from Green Growth Asia, a Malaysian non-profit organisation.
• UJALA scheme is to promote efficient lighting, using efficient equipment to reduce electricity bills and preserve the environment at the global level.
• Under this scheme, each household in Melaka state will get 10 high-quality 9-watt LED bulbs, at a subsidised rate almost half price offered in the market.

SAUNI Yojana

Times World University Rankings 2018 Released

• Among Universities from India once again Indian Institute of Science (IISc) topped the list of Indian Universities in Times World University Rankings 2018.
• 30 Universities from India got its place in the list, but none was in the top 100. Also position of Indian Universities fell in global rankings compared to its last year position.
• Top 10 in Universities in World are  –

1. Oxford University, UK
2. Cambridge University, UK
3. California Institute of Technology, US
4. Stanford University, US
5. Massachusetts Institute of Technology, US
6. Harvard University, US
7. Princeton University, US
8. Imperial College London, UK
9. University of Chicago, US
10. ETH-Zurich, Switzerland.

France to ban oil and gas production by 2040

• France is set to bring a new law banning the production and exploration of oil and natural gas by 2040 on its mainland and overseas territories.
• This move is more symbolic in nature as French oil and gas production represents a tiny fraction of national consumption (1%) with most being imported.
• The law would represent another move by France to meet its commitments under the Paris climate accord.

BSNL making way for 5G and IoT in India

Global Retirement Index is released by French asset management company Natixis Global. It ranks countries on the basis of four sub-indices:

1. Material Well being (the material means to live comfortably in retirement)
2. Finances (access to quality financial services to help preserve savings value and maximize income)
3. Health (access to quality health services)
4. Quality of life (a clean and safe environment)

This year the index ranked 43 countries which include 34 from International Monetary Fund (IMF) advanced economies, 5 from Organization for Economic Co-operation and Development(OECD) member countries and 4 from the BRICS countries (Brazil, Russia, India and China).

Objective:

It provides a global benchmark for retirees and future retirees so that they can evaluate and compare the suitability of various nations, and plan their retirement according to their expectations and needs.

Global Retirement Index and its relevance:

• In 2014, India saw its elderly population crossing the 100 million mark, out of which half live below the poverty line.
• Also as per a report of HelpAge India, elderly Indians will be making upto 20% of India’s population by 2050.

India’s Performance:

India ranks 43rd and is placed at the bottom of the chart. (Last year, India ranked 88th out of 150 countries). It is even last among BRIC countries.

Sub-indices and its Performance:

1. Material Well-being:

• Ranking– 41st
• India ranks first in old-age dependency, second in tax pressure and sixth in interest rates.
• Counterbalancing the high scores in these sub-indices is the governance indicator which, despite improving from last year, ranks as the fifth worst among all countries in the GRI.

2. Health:

• Ranking– 43rd
• India has a health index score of just 4%, the lowest score in any sub-index in this year’s GRI.

3. Finances:

• Ranking– 39th
• India has the tenth-lowest score for the bank non-performing loans indicator.

4. Quality of Life :

• Ranking– 43rd
• India is last in the quality of Life sub-index with a score of 6%. India has the lowest score for air quality, happiness and water and sanitation and the second to last in biodiversity and habitat.

Some other important facts:

• Norway, Switzerland and Iceland are among the top three countries where retirees have the best life.
• United States ranks 14th on the list.

You may also like to Read: CRI Index

Indian Institutes of Management Bill gives more functional autonomy to IIM’s  for awarding degree and empower them to become the center of excellence in the field of management study by imparting education and doing collaborative research.

Key Features of IIM Bill

1. Indian Institutes of Management Bill empowers IIM‘s to grant full-time Masters degree in Management.Earlier they used to award diploma (like Post Graduate Diploma in Management i.e, PGDBM)  which is not considered equivalent to  MBA  in many countries and MNCs.

2.It declares all the existing 20 IIM’S as Institute of National Importance.

3.It gives more autonomy to Board Members.The Board of Governors, which is the executive Body of IIM, will now appoint Director of their individual IIM. A search committee will recommend names for the post of the Director.

4. The Academic Council of each IIM will determine the: (i) academic content; (ii) criteria and process for admission to courses; and (iii) guidelines for the conduct of examinations.

5.A  coordination forum having representation from the all 20 IIMs will be established and it will discuss matters of common interest to all IIMs.

6.It abolished the post of Visitor in IIM.Currently, President of India is the visitor of all the IIM’s.

7.The Bill brought for periodic review of the performance of IIMS by independent agencies free from any influence.

8.The Bill says that CAG will henceforth, audit the accounts of IIM and it will be subsequently tabled in Parliament.

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Analysis

Though some recommendations of the expert committee  are not addressed in the Bill like autonomy of the Board to determine the salary of faculty members, creation of an autonomous Standing Committee for management education under an apex regulatory body for higher education,yet the Bill will go a long way in empowering the IIM for self-management by reducing government interference in its day to day function,empowering the Board to appoint its own chairman and Director.It thus gives much needed functional autonomy if IIM’s and in the time ahead it should be extended to all other institutes of National Importance.

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