Daily Current Affairs- 4th August 2016

Dear Readers, we are providing Today's important current affairs of Competitive Exams specially for Bank and SSC

1. Shubha Mudgal to be awarded Rajiv Gandhi National Sadbhavana Award
1. The advisory committee of the Rajiv Gandhi National Sadbhavana Award on 30 July 2016 decided that the 23rd Rajiv Gandhi National Sadbhavana Award will be given to Shubha Mudgal.
2. Mudgal will be honoured for her outstanding contribution towards the promotion of communal harmony, peace and goodwill.
The singer will be presented with the Award on 20 August 2016 at Jawahar Bhawan Auditorium.

2. Pushpa Kamal Dahal 'Prachanda' elected 39th Prime Minister of Nepal 
1. Communist Party of Nepal-Maoist Chairperson (CPN-MC) Pushpa Kamal Dahal 'Prachanda' on 4 August 2016 was elected the 39th Prime Minister of Nepal.
2. Dahal was the sole claimant to the post of Prime Minister, when he filed his candidacy at the Parliament Secretariat on 2 August 2016.
3. Dahal was elected Prime Minister with 363 votes in favour and 210 against him. Out of the total 595 members, 22 did not vote. He was backed by the largest party in the House, Nepali Congress, constituents of the United Democratic Madhesi Front and the Federal Alliance.

3. Union Cabinet approved Motor Vehicle (Amendment) Bill, 2016
1. Union Cabinet gave its approval to Motor Vehicle (Amendment) Bill, 2016. The amendment seeks to improve road safety in the country.
2. The bill proposes to increase penalties against traffic violations to as deterrent measure.
3. Highlights of the Motor Vehicle (Amendment) Bill 2016
Amendments, Deletion, Replacement and Insertion
• It aims to amend 68 sections of the existing Motor Vehicle Act that carries 223 sections.
• It seeks to delete chapter 10 of the existing act.
• It seeks to replace Chapter 11 with new provisions to simplify third party insurance claims and settlement process.
• It proposes insertion of 28 new sections.

4. Japan cabinet approves economic stimulus package worth $275 billion
1. Japan’s cabinet has approved an economic stimulus package worth 275 billion dollars in attempt kick-start the economy and boost growth of the world’s third-largest economy. Decision in this regard was Japanese Cabinet meeting chaired by Prime Minister Shinzo Abe in Tokyo. 
2. The Japanese government expects that this package will boost gross domestic product (GDP) by 1.3%. Key Facts The economic stimulus package of measures aims at tackling deflation and strengthening the national economy of Japan. It includes increase expenditure for the national and local governments as well as significant investments in the country’s infrastructure. It also includes in a supplementary budget, which will be considered by an extraordinary session of Parliament starting in September.