Current Affairs – February, 2018

Latest Current Affairs February, 2018 with Current Affairs, news summary on current events of National and International importance of February, 2018 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Government appoints IIFT, ICAI, NICMAR to improve World Bank’s ‘Doing Business’ ranking

The Union Commerce and Industry ministry has appointed four institutes to interact with stakeholders and suggest measures to push India’s ranking in World Bank’s Ease of Doing Business Index. They are National Institute of Construction Management and Research (NICMAR), Indian Institute of Foreign Trade (IIFT), Institute of Company Secretaries of India (ICSI) and Institute of Chartered Accountants of India (ICAI).

Key Facts

These four institutes will take views of respondents on parameters which are taken into in ranking process. They will then share feedback with concerned ministries. The parameters include – starting business, dealing with construction permits, registering property, getting electricity, protecting minority investors, getting credit, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

ICAI will look into paying taxes parameter while ICSI and IIFT will work on starting a business and trading across borders respectively. NICMAR will collate feedback on dealing with construction permits. The move will help further push India’s ranking. Improvement in ease of doing business will help attract more investments by ensuring a better business climate for investors.

Background

As per the latest World Bank’s Doing Business ranking 2017, India’s position had improved by 30 places to 100th. The government wants India to figure within top 50 in the coming years. In the 2018-19 Budget speech, Finance Minister Arun Jaitley had mentioned that to further improve ease of doing business, the government has identified 372 action points for states which they will carry out in a mission mode.

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28th February: National Science Day

The National Science Day is observed every year on 28th February with an objective to spread message of importance of science and its application among the people. The theme for National Science Day 2018 is “Science and Technology for a sustainable future.”

Significance of Day

The day is observed to mark the discovery of Raman effect by Physicist CV Raman on 28th February, 1928. For his discovery, CV Raman was awarded the Nobel Prize in Physics in 1930.

Background

The National Science Day was instituted by Central Government in 1986 based on the demand of National Council for Science and Technology Communication. The first National Science Day was celebrated on 28 February 1987.

It is celebrated to spread message about importance of science used in daily life of people and popularise science and technology. It also gives an opportunity to scientific-minded citizens in country to showcase their work in organized shows.

Raman effect

It is the inelastic scattering of a photon by molecules which are excited to higher vibrational or rotational energy levels.  In this phenomenon, some part of light beam after passing through transparent medium gets scattered. This phenomenon of scattering of light is termed as Raman Scattering and the cause of scattering is called the Raman Effect. The wavelength of these scattered rays is different from that of the incident rays of light.

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