TNPSC Daily Current Affairs - May 9 & 10, 2018 - TNPSC Current Affairs - www.TNPSCGURU.in 2018

TNPSC Current Affairs - May 2018 by TNPSC Guru

1.15th Finance Commission constitutes an Advisory Council 

The 15^th Finance Commission constitutes an advisory council to advise and assist on its terms of reference.

In November 2017 N K Singh was appointed as Chairman of 15^th finance commission.

About the Finance Commission:

• As per Article 280 of Indian Constitution, President will establish Finance commission every fifth year or earlier as he thinks necessary. 
• Finance Commission is a Quasi-judicial body and the chairman will be appointed by President.
• The main aim of Finance commission is to distribute or allocate the net proceeds of taxes to be shared between Centre and States.
• Till now 14 finance commission has been constituted.
• First Commission chaired by K.C Neogy , 2nd by K. Santhanam, 3rd by A.K Chanda, 4th by Dr. P.V Rajamannar, 5th by Mahavir Tyagi, 6th by Brahamananda Reddy, 7th by J.M Shelat, 8th by Y.B. Chavan, 9th by N.K.P Salve, 10th by K.C Pant. 11th by A.M Khusro, 12th by Dr.C Rangarajan, 13th by Dr. Vijay Kelkar, 14th by Y.V Reddy and 15^th chairman is N K Singh. 

2.Arun-Hydropower Project. 

• Investment Board Nepal (IBN) has given licence to Satluj Jala Vodyut Nigam Power Development Company to generate power from Nepal’s Arun-3 Hydropower Project.
• It is located on Arun River in Sankhuwasabha district of eastern Nepal.

3.India and Guatemala agreement. 

India and Guatemala has signed an agreement for expanding cooperation in the area of Diplomatic training.

4.15th Asia Media Summit 

• 5the Asia Media Summit to be hosted by India in New Delhi from May 10-12, 2018 with the theme of “Telling Our Stories – Asia and More”.
• It is an annual summit of Asia-Pacific Institute for Broadcasting Development (AIBD) Kuala Lumpur, which will encourage regional and bilateral dialogue and cooperation to respond to challenges to the broadcasting sector.
• This is the first time India hosting this Summit. 

5.Asia-Pacific Power Index 

India Ranked 4^th out of 25 nations in the Asia-Pacific region on overall power in the recent Lowy Institute Asia Power Index measures.