Current Affairs 1st February 2018

Current Affairs 1st February 2018 - Important Points

• Fifth Budget of Modi Government presented on - 1st February 2018
• Indian Navy launched third Scorpene Class Submarine INS Karanj on - 31st January 2018
• India ranked as 6th wealthiest country in the world, reported by - New World Wealth 
• Mihir inaugurated at -  National Centre for Medium Range Weather Forecasting, Noida
• Shesh Anand Madhukar awarded with Sahitya Akademi's Bhasha Samman 2018 on - 31st January 2018

Current Affairs 1st February 2018 - Details

Fifth Budget of Modi Government presented on - 1st February 2018

Union Finance Minister Arun Jaitley on February 1st, 2018 will present the Union Budget 2018-19 in the Lok Sabha. After independence, this will be the 88th budget and the 5th of the Modi Government.
The Budget 2018 offers Modi Government one more but last chance before the General Elections 2019 to justify its actions and decisions that have influenced the economy extremly including demonetisation and GST.
Expectations are greater from different areas and several questions have been raised, for instance, If Budget 2018 will witness rise in income tax slab? What's in the stock for PSUs? and What Budget 2018 is willing to bring for agriculture and farmers?
As the release of Budget 2018 is coming closer, citizen's assumptions have also raised to the great heights. It will be purely a judgement time.

Indian Navy launched third Scorpene Class Submarine INS Karanj on - 31st January 2018

INS Karanj, the 3rd Scorpene class submarine manufactured by Mazagon Dock Shipbuilders Limited, was initiated by the Indian Navy on January 31st, 2018. The submarine was initiated by Reena Lanba, President of Navy Wives Welfare Association after the recitation of Sanskrit shlokas from the Atharva Veda and traditional protocol related to the launch of naval platforms. 

After the initiation, the submarine was drawn to Mumbai Port Trust for disconnection from the pontoon. Indian Naval Ship Karanj will now encounter careful trials and tests, in dock and at sea before it is engaged in the Navy.
Working of Scorpene submarines

• The modern technology used for manufacturing of the Scorpene class submarines safeguard superior stealth features including advanced acoustic silencing techniques, hydro-dynamically optimized shape and low radiated noise levels.
• These submarines have the capability to initiate a crippling attack on the enemy by using precision directed weapons.
• The attack can be initiated with both torpedoes and tube initiated anti-ship missiles, while underwater or on the surface. 
  Did you know?
• The manufacturing and Transfer-of- Technology for 6 Scorpene submarines continuously has been handled by Mazagon Dock Shipbuilders Limited and Naval Group of France as Collaborator.
• Earlier in January 2017, INS Khanderi, the 2nd Scorpene class submarine, was initiated by the Indian Navy and is presently undergoing the careful phase of sea tests and is also programmed to be delivered soon.

India ranked as 6th wealthiest country in the world, reported by - New World Wealth 

A report by New World Wealth has placed India in the 6th position in the list of wealthiest nations. It noticed that India was the super-performing wealth market globally in 2017, as its total wealth raised from USD 6,584 billion in 2016 to USD 8,230 billion in 2017, indicated a 25% growth.
Key Highlights

• The US is the wealthiest nation in the world with a total wealth of USD 64,584 billion.
• The report graded China in the 2nd place, as its total wealth in 2017 counted to USD 24,803 billion.
• Japan placed at the 3rd place with a total wealth of USD 19,522 billion.
• The top five also contains the UK at the fourth place with wealth amounting to USD 9,919 billion and Germany at the fifth place with USD 9,660 billion.
• India is ranked at the sixth place with USD 8,230 billion, followed by France at seventh with USD 6,649 billion, Canada at eighth with USD 6,393 billion, Australia at ninth with USD 6,142 billion and Italy at tenth with USD 4,276 billion.
  Total Wealth
• The total wealth mentions to the private wealth grabbed by all the individuals living in each nation.
• It contains all assets grabbed by peoples including property, equities, cash and business interests.
  The report, however, do not contains government funds in its figures.

Mihir inaugurated at -  National Centre for Medium Range Weather Forecasting, Noida

Ministry of Earth Science has initiated high performance supercomputer computer system, “Mihir” which means the sun, at National Centre for Medium Range Weather Forecasting, Noida.
The HCP will give facility for boosting weather and climate forecasts. It is nation’s mega HPC facility in
terms of top capacity and performance. It also uplifted India’s ranking to Top 30 in the list of HPC
solutions in world.
Key Points

• With this, MoES has obtained HPC facility total of 6.8 Peta Flops, that has been installed at 2 of its
  constituent units: 4.0 PF HPC provision named ‘Pratyush’ at Indian Institute of Tropical Meteorology, Pune and 2.8 Peta Flops provision at National Centre for Medium Range Weather Forecasting, Noida.
• It also enhanced India position to fourth position after Japan, UK and US in terms of dedicated HPC
  resources for weather and climate forecasts.
  Mihir HPC facility will improve following-
• Weather forecasts at block level across India which can forcast extreme weather events.
• High resolution seasonal and enlarged range prediction of active and break spells of Monsoon.
• Highest resolution coupled models for the forecast of cyclones with additional accuracy and lead time.
• Ocean state predictions including marine water quality predictions at greater resolution.
• Tsunami predictions with greater lead time.
• Climate projections at greater resolution.
  Importance
• Assists in gaining operational requirements of MoES and also helps research and growth activities on various problems concerned to Earth Science.
• Assists MoES in developing various facilities for societal benefits served by building state of the art
  systems for multi-danger risk reduction from floods or droughts, earthquakes, cyclones, heat or cold waves and tsunamis.

Shesh Anand Madhukar awarded with Sahitya Akademi's Bhasha Samman 2018 on - 31st January 2018

Magahi writer Shesh Anand Madhukar was respected on January 31st, 2018 with the Sahitya Akademi Bhasha Samman Award 2018. With this, he became the 2nd writer of Magahi language award winner. Madhurkar was granted the award by Sahitya Akademi President Vishwanath Prasad Tiwari. 
More about Shesh Anand Madhukar

• Madhukar has been serving extensively for the development of the Magahi language.
• Madhukar begun his career as a lecturer in Hindi at the BSK College, Methan in 1966 and finally became a reader and professor at the Saint Columba College, Hazaribagh.
• He started into the field of literature in 1960 and since then he has extremely contributed in the enrichment of the language. His poems have been published in famous literary magazines.
• Few of his crucial works in Hindi are Magahi Kavita Ke Bimb, Bhagwan Birsa and Eklavya. 
• His books have been introduced into the graduate and PG level syllabus of Vinoba Bhave University,
  Hazaribagh.
  More about Bhasha Samman
• Sahitya Akademi presently honours writers from 24 local languages, but Bhasha Samman recognize those languages which are equally used in various parts of the nation. 
• The award prize includes of Rupees one lakh cheque and a memento.