Monthly Current Affairs Quiz - May, 2018

Notes:
In its latest report “Asia and Pacific Regional Economic Outlook”, the International Monetary Fund (IMF) has reaffirmed that India will be the fastest-growing major economy in 2018, with a growth rate of 7.4% that rises to 7.8% in 2019 with medium-term prospects remaining positive. As per report, India was recovering from the effects of demonetisation and the introduction of the Goods and Services Tax (GST), and the recovery is expected to be underpinned by a rebound from transitory shocks as well as robust private consumption. The report said, Medium-term consumer price index inflation is forecast to remain within but closer to the upper bound of the Reserve Bank of India (RBI)’s inflation-targeting band of 4% with a plus or minus 2% change. It said, the consumer price increase in 2017 was 3.6% and projected it to be 5% in 2018 and 2019. Overall, the report stated that Asia continues to be both the fastest-growing region in the world and the main engine of the world’s economy.

Notes:
In its second-quarter Sovereign Credit Overview for Asia Pacific region, Credit rating agency Fitch has said that India’s economic growth will accelerate to 7.3% in the current financial year FY19 and 7.5% in the next fiscal. The growth rate will accelerate as money supply has recovered to its pre-demonetisation level and disruptions related to the rollout of GST have diminished. The rating agency said India’s ratings balance a strong medium-term growth outlook and favourable external balances against a weak fiscal position and difficult business environment. But the country’s business environment is likely to improve gradually with the implementation and continued broadening of the government’s structural-reform agenda.

Notes:
The 5th meeting of the BIMSTEC Sub-Group on Prevention of Illicit Trafficking in Narcotic Drugs, Psychotropic Substances and precursor Chemicals to be held in Kathmandu, Nepal on 23 May 2018. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an international organisation of 7 nations of South Asia and South East Asia, including Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, and Nepal.

Notes:
Legendary singer Lata Mangeshkar has been honoured with the Swara Mauli title by Shankarcharya Vidyanarsimha Bharati Swami at her residence Prabhu Kunj in Mumbai on May 13, 2018. The veteran singer has several awards to her credit in her over 7-decade-long career, including three National Awards. Mangeshkar was awarded the Bharat Ratna, the highest civilian award in the country, in 2001 – the second vocalist, after MS Subbulakshmi to receive the honour.

Notes:
Nandram Das Bairagi (87), the noted Hindi film lyricist, poet and politician, has passed away in Neemuch district of Madhya Pradesh on May 13, 2018. The multi-faceted personality, who was also MP minister in the Congress government earlier, was born in Manasa on February 10,1931. He was popularly known as Balkavi Bairagi as he wrote some classic poems in his childhood. He wrote lyrics for more than two dozen Hindi films and some like “Tu Chanda Main Chandni” from the film “Reshma aur Shera” are considered classics. He wrote several Hindi poems, among which, “Jhar gaye paat, bisar gayi tehni” is considered a gem by many Hindi poets. Bairagi was a Lok Sabha member between 1984 and 1989 and also a former Rajya Sabha MP.

Notes:
In a Cabinet reshuffle, Col Rajyavardhan Rathore has taken charge as the new Union Minister of Information and Broadcasting (I&B) on May 15, 2018. He replaced Smriti Irani. Mrs Irani will now only hold the portfolio of Minister of Textiles. A communique from the office of President Ram Nath Kovind said, Railway Minister Piyush Goyal has been given an additional charge of Ministry of Finance and Minister of Corporate Affairs till Arun Jaitley, who underwent a kidney surgery recently, recovers from treatment. 

Notes:
On May 16, Chennaiyin FC head coach John Gregory has been honoured with a Special Achievement Award by England’s League Managers’ Association (LMA) in London for becoming the first Englishman to win the Indian Super League (ISL). Chennaiyin FC had beaten Bengaluru FC in the ISL final in March 2018 to claim the trophy. This victory also ensured Chennaiyin FC a place in the 2019 AFC Cup. The LMA is a body in England for English coaches and all managers in English football. The LMA hosts an awards night annually to reward the best performing coaches in English football every season and also recognises efforts of English coaches from around the world.

Notes:
Yudhvir Singh Malik, a 1984 batch IAS officer of Haryana cadre, has been given additional charge of the post of National Highways Authority of India (NHAI) chairman on May 17, 2018. Malik currently is the Secretary of Ministry of Road, Transport and Highways. He succeeded Deepak Kumar, who was sent back to his cadre state Bihar before completion of his tenure. The Appointments Committee of the Cabinet has approved the premature repatriation of Kumar to his parent cadre with immediate effect without citing any reason. Kumar, a 1984 IAS officer of Bihar cadre, had taken over as the NHAI chief on June 2017.

Notes:
The World Telecommunication and Information Society Day (WTISD) is observed every year on May 17 to raise awareness of the possibilities that the use of the Internet and other Information and Communication Technologies (ICT) can bring to societies and economies, as well as of ways to bridge the digital divide. The day marks the anniversary of the signing of the first International Telegraph Convention (ITC) and the creation of the International Telecommunication Union (ITU). The 2018 theme “Enabling the positive use of Artificial Intelligence for All” will focus on the potential of Artificial Intelligence (AI) to accelerate the United Nations’ Sustainable Development Goals (SDGs).

Notes:
The Japanese family drama ‘Shoplifters’ has received the coveted award for best film, the Palme d’Or, at the Cannes Film Festival on May 20, 2018. Poland’s Pawel Pawlikowski won the best director award for his love story ‘Cold War’. Little-known Italian actor Marcello Fonte won best actor for his role as a hapless cocaine-dealing dog groomer who faces down a thug in ‘Dogman’. The Best actress award went to Samal Yeslyamova for Kazakh writer-director Sergey Dvortsevoy’s “Ayka.” A special Palme d’Or was awarded to French-Swiss Jean-Luc Godard for the film ‘Image Book’.