Daily Current Affairs, 18th February 2018 - VISION

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Sunday, February 18, 2018

Daily Current Affairs, 18th February 2018

1)  Definition of employment changed, says President Ram Nath Kovind

•President Ram Nath Kovind today said, the government has brought various schemes in order to encourage self-employment. 

•Addressing the diamond jubilee celebrations of PGDAV College in New Delhi, Mr Kovind said, the definition of employment has changed. 

•He urged students to use opportunities provided by the government for their career development as well as to create opportunities for others. The President said, the 21st century is the age of the Knowledge Economy. 

2)  PM Modi inaugurates Magnetic Maharashtra Convergence Summit

•Prime Minister Narendra Modi inaugurated Maharashtra's first Global Investor Summit 'Magnetic Maharashtra: Convergence 2018' in Mumbai on Sunday. 

•While delivering the inaugural address at MMRDA Grounds, Mr. Modi said, Maharashtra has developed a magnetic strength that is attracting domestic as well as global investors. 

•He said, summits like Magnetic Maharashtra are a great example of cooperative competitive federalism. The Prime Minister said that India is on way to join the five trillion dollar economies club in a few years due to consistent efforts of the NDA government. 

3)  Judiciary has no right to formulate law: Union Law Minister

•Law Minister Ravi Shankar Prasad has categorically stated that judiciary has no right to formulate law and govern administration. 

•Addressing the plenary session of Commonwealth Parliamentary Association Conference in Patna, Mr Prasad said, these rights have been given to the elected government. 

•He said, Parliament has the right to formulate law and Judiciary has only the right to explain it. The Minister said, the court can reject arbitrary laws if any. 

4)  India-Iran Sign 9 MoUs To Boost Bilateral Ties

•The government has signed second Loan Agreement with New Development Bank (NDB) for the financing of Rajasthan Water Sector Restructuring Project for the Desert Areas.

•This is the first tranche loan of $100 million was approved by the NDB under Multi-Tranche Financing Facility of $345 million for this project. The objective of the project is to rehabilitate 678 km long Indira Gandhi Nahar Project (IGNP) built during 1958-63 to prevent seepage.