6 July 2016 – Daily Current Affairs

NASA Spacecraft Juno successfully enters the orbit of Jupiter

NASA (National Aeronautics and Space Administration) launched Spacecraft Juno successfully entered the orbit of Juno on 4^th July 2016. The confirmation of orbit insertion was received via the tracking data from Juno. Furthermore, this data is constantly monitored at NASA’s JPL (Jet Propulsion Laboratory). The main objective of Juno spacecraft is understanding the origin as well as evolution of the planet Jupiter. Additionally, Juno will also explore existence of any solid-planetary core. Also, it will map the magnetic field of Jupiter as well as measure the atmosphere’s ammonia and water amount. It will also observe the auroras of the planet. Juno was launched on 5^th August 2011 from the NASA station.

ABF (Aditya Birla Fashion) acquires Forever 21 (global clothing brand)

ABFRL Aditya Birla Fashion) acquired Forever 21 on 5^th July 2016. Forever 21 is a global clothing company having a market value of USD 26 million in India. Across the globe, Forever 21 has 700 plus stores. In 2015-16, Forever 21 reported gross turnover of INR 262 crore from the Indian market. The acquisition will be effective from 1^st July 2016. Additionally, the transaction will be through a BTA (business transfer agreement). Forever 21 will undergo its operations under MFLD (Madura Fashion and Lifestyle Division) of ABP. Aditya Birla was previously known as PFRL (Pantaloons Fashion and Retail Limited).

Union Cabinet approved NAP (National Apprenticeship Promotion) Scheme

Union Cabinet ministry gave its approval to the NAPS (National Apprenticeship Promotion Scheme) on 5^th July 2016. Under this scheme, fifty lakhs apprentices will be trained by 2019-20. The scheme involves a total outlay of INR 10000 crore that will be catalyzing the total apprenticeship ecosystem across the nation. The DGT (Director General of Training) will be implementing the scheme under the MSDE (Ministry of Skill Development and Entrepreneurship). Furthermore, the schemes will incentive employers for engaging apprentices. Additional, the scheme will support basic training for the apprentices. The larger objective of this scheme is to create skilled manpower across the nation.

Union Cabinet approved ISSF (Interest Subvention Scheme for farmers)

Indian Union Cabinet approved ISSF (Interest Subvention Scheme for farmers) on 5^th July 2016. The scheme has been approved for 2016-17. Furthermore, an amount of INR 18276 crore has been approved by the Indian government for this scheme. It will ensure that the farmers receive short-term crop loans that are payable in 1 year. The loan amount will be up to INR 3 Lakhs and the interest rate will be only 4 percent per annum. Also, the other 5 percent/annum interest will be paid from the Government’s end.

Delhi IGI airport unveiled the largest ‘Charkha’ in the world

Delhi IGI (Indira Gandhi International) airport on 5^th July unveiled the largest ‘Charkha’ (spinning wheels) in the world at the Terminal 3. The main objective behind this scheme is to highlight the quest of Indian nation towards fostering an egalitarian culture as establshied by MK Gandhi (Father of the nation, India). The ‘Charkha’ will ensure promotion of the cultural heritage of India through these significant artworks across the terminal. Additionally, the weight of the ‘Charkha’ is 4 tons and is manufactured from high-quality (Burma) teak wood. Also, the charkha was prepared in approx. 55 days.