Top 15 Current Affairs 17th December 2017

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17 December 2017

North Korea threat is becoming stronger and the situation is taking difficult turns, Japan is also trying to boost its defence as much as possible. The country has planned a record 5.19 trillion yen defence budget for the next fiscal year to strengthen its missile defence. This amount is approximately 70 billion yen (about $ 625 million) more than the last year. The current defence budget of the country is 5.12 trillion yen for this fiscal year. If defence increases the budget for next fiscal year also, then it will mark the sixth year of increase. Most of the money will be allocated for protection of Japan from North Korean missile development and nuclear nukes. Japan's defence minister Itsunori Onodera earlier said the country plans to purchase long-range cruise missiles, with a range of some 900km, from US firms. The extended budget will cover up the plan, if it is executed.

17 December 2017

The union government approved capital investment subsidy amounting to Rs 264.67 Crore to four industrial units located in North East, including Sikkim. The decision was taken at a meeting of Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.  The grant of subsidy to the industrial units will not only provide incentives to the operational units but also boost the confidence of existing investors as well as potential investors in North Eastern Region (NER). The four industrial units are located in North East including Sikkim. The subsidy has been granted under the Central Capital Investment Subsidy Scheme (CCISS), 2007 of the North East Industrial Investment and Promotion Policy (NEIIPP), 2007. The union government of India has been implementing this scheme to promote industrialization in the North East.

17 December 2017

The Delhi Government approved a Rs 2,600Crores special package for employment generation in the leather and footwear sector. The decision was taken at a meeting of the Union Cabinet chaired by PM Modi in Delhi. The package has the potential to generate 3.24 lakh new jobs in 3 years and assist in the formalisation of 2 lakh jobs as cumulative impact in footwear, leather and accessories sector. The package involves implementation of central scheme ‘Indian Footwear, Leather and Accessories Development Programme’, with an expenditure of Rs 2,600 crore during 2017-18 to 2019-20.

17 December 2017

The Union Cabinet approved new Central Sector Scheme of North East Special Infrastructure Development Scheme” (NESIDS) from 2017-18. The scheme will broadly cover the creation of infrastructure under following sectors (i) Physical infrastructure relating to water supply, power, connectivity and especially the projects promoting tourism.  The Infrastructure of social sectors of education and health. The Union Cabinet also approved the continuation of existing Non-Lapsable Central Pool of Resources (NLCPR) scheme till March 2020 with funding pattern.

17 December 2017

FIFA suspended the head of the Brazilian football federation Marco Polo Del Nero for 90 days over a breach of its rules. FIFA ethics committee, in a statement, said the decision bans Del Nero from any football-related activities during this period. The duration of the ban may be extended for an additional period not exceeding 45 days. The 76-year-old Del Nero was accused of accepting a 6.5 million euro commission. In the wake of these accusations, the ethics committee opened an inquiry that led to his suspension.

17 December 2017

China unveiled a satellite network plan for round-the-clock surveillance on the South China Sea. The East Asian country plans to launch 10 satellites into space over the next three years to maintain non-stop surveillance on the disputed waterway. The program would provide scientific support for its One Belt One Road initiative and emergency response efforts at sea.

17 December 2017

India's first Tesla was registered at the Tardeo Regional Transport Office (RTO). The Model X car, is owned by the business conglomerate Essar's CEO Prashant Ruia and is reportedly exempted from RTO taxes as it is an electric vehicle. The SUV (sports utility vehicle) is also the 16th electric vehicle registered in Mumbai during the current financial year.

17 December 2017

Japanese conglomerate SoftBank is in talks to invest $300 million in the US-based dog-sitting app Wag, according to reports. This comes months after the startup was slammed for allegedly losing customers' pets under its care. Founded in 2014, Wag gives on-demand access to dog handlers, who can be hired by the users for dog walking and dog sitting.