Current Affair 7 March 2016 for Competition Exams

Sunil Sabharwal appointed as Alternate Executive Director at IMF.
Sunil Sabharwal has become the first Indian-American to be appointed as Alternate Executive Director at International Monetary Fund (IMF).

World’s most expensive train station opened in New York at 9/11 site.
The world’s most expensive train station " World Trade Center Transportation Hub" has been opened at the 9/11 site in New York, United States. It is built next to the site of the Twin Towers, which were destroyed in the terror attacks of September 11, 2001.
The station building is called Oculus it has an elliptical shape, reaching for the sky like the wings of a bird.

Jitu Rai wins Gold medal in 50m pistol event at ISSF World Cup.
Indian shooter Jitu Rai has won the gold in the men's 50m pistol event at theInternational Shooting Sports Federation (ISSF) World Cup in Bangkok, Thialand.
He was also the winner of the 2014 Asian Games and currently ranked 5th in the world in the 50m Pistol Men’s event.

Former Lok Sabha Speaker PA Sangma passes away.
Former Lok Sabha Speaker Purno Agitok Sangma, passed away in Delhi following brief illness. He was 68. He was elected to the Lower House nine times and served as the Speaker of 11th Lok Sabha from 1996 to 1998.

PM Narendra Modi launches Setu Bharatam Project.
Prime Minister Narendra Modi has launched Setu Bharatam project. Cost of this project is estimated t be Rs 50,800 crore. This project will ensure highways without railway crossings by 2019 and repair of 1,500 British-era bridges. This project will be implemented by the Union Ministry of Road Transport and Highways.

About Setu Bharatam project.
Under the Setu Bharatam project, a total of 208 railway crossings will be replaced by rail over bridges by 2019 at an estimated cost of Rs 20,800 crore while 1,500 bridges of the British era that are over 50 to 60 years old will be repaired at an estimated expenditure of Rs 30,000 crore across the country.
The Indian Bridge Management System has been introduced to map all 1,50,000 bridges in the country. So far inventory of 50,000 bridges has been prepared under it and the first cycle of condition survey will be completed by June 2016.
In Budget 2016-17, Rs. 19,000 crore has been sanctioned under the Pradham Mantri Gram Sadak Yojana (PMGSY), to connect all villages with roads, compared with Rs. 14,291 crore in the revised estimates of 2015-16.