PM Modi & Maldivian President jointly inaugurated 4 key development projects
The prime minister of India Shri Narendra Modi and the president of Maldives Ibrahim Mohamed Solih jointly inaugurated 4 key development projects in Maldives via video conference.
The 4 projects are gifting of Made in India Coast Guard Ship(CGS) Kaamiyaab to Maldives, launch of RuPay card, lighting up of Malé using LED (Light Emitting Diodes) lights, and launch of 3 fish processing plants.
India also plans to undertake several High impact community development projects in Maldives.
18 projects worth Rs.1456 crore covering all the NE states sanctioned by tourism ministry
The Ministry of Tourism with a focus to develop and promote tourism in the North Eastern (NE) region, has sanctioned 18 projects under the Swadesh Darshan and PRASAD (Pilgrimage Rejuvenation and Spiritual Augmentation Drive) Schemes for the entire NE region for Rs 1456 crore.
Various activities have been undertaken for promoting tourism in NE region. They include
Release of television(TV) campaigns on Doordarshan and private channels in the country.
Production of publicity material, creative TV commercials /promotional films on the NE region.
The North East region is the theme of the India Pavilion set up by the Ministry at the South Asia Travel and Tourism Exchange (SATTE) which is to be held in 2020 in New Delhi. In addition to it, complementary space is provided to the NE States for their participation in the India Pavilion.
UP govt announces 25% subsidy & full stamp duty waiver for defence industry
Uttar Pradesh government has decided to provide 25 per cent subsidy and 100 per cent stamp duty waiver for setting up defence industry in the state.
State will also provided all facilities including power, road and fencing of land to the companies that will set up defence industries.
State cabinet has given relief to the home buyers in Noida and Greater Noida region by giving exemption to the builders from penal interest and other dues for the period their project is stalled due to litigation.
Builders will only get this exemption if they pass on this benefit to the home buyers.
The benefit will apply to builders who are set to provide homes to buyers by June 2021. The state government expected one lakh new homes to be constructed by that time.
3-day-long North East Food Show begins in Meghalaya
The three-day-long North East Food Show which can be dubbed as the biggest ever food show of the region began today at Polo Grounds, Shillong.
The first-ever North East Food Show was inaugurated by Chief Minister Conrad K Sangma
The North-East Food Show is a platform for entrepreneurs of the North-East to meet and interact with National and global majors of the Food & Beverage Industry to better understand, build connections, anticipate consumer needs and familiarize themselves with the latest trends in the industry for export promotion and up-scaling their businesses to global standards.
The North East Food Show is being jointly organized by the Meghalaya Government in association with SIAL India and Inter Ads Exhibitions Private Limited.
YSR Law Nestham scheme launched by Jagan Mohan Reddy, CM of Andhra Pradesh
which is also observed as the National lawyers day, Yeduguri Sandinti Jaganmohan Reddy, Chief Minister (CM) of Andhra Pradesh launched the YSR (Yuvajana Sramika Rythu) Law Nestham scheme at Tadepalli, Andhra Pradesh.
The eligibility of the candidate is, they should be under the age of 35 and must be a graduate in Law and only one member from each family is eligible to apply for the scheme, also junior lawyers who have stopped practising law are not eligible.
Junior lawyers will be eligible for the scheme for the remaining three years after completing the first three years of practice.
Also senior lawyers with 15 years of practice experience and who are currently active in practice with certification from the Bar Association are also applicable for the scheme.
The eligible candidates can apply through the website by uploading their birth certificate, law degree certificate, aadhar card number and specified bank account details and after the registration, the certificates should remain in the Bar Council for 2 years. And if the candidate has decided to quit the job or is getting into another job the relevant authorities should be informed about it.
The other people who participated in the event include Manika Rama Rao, Bar council Chairman of Andhra Pradesh, Ramajogeshwar Rao, Vice Chairman, Nitreshwar Rao, Senior Advocate and other members of the Bar council.
Gotabaya Rajapaksa invites Indian companies for investment in Sri Lanka
Gotabaya Rajapaksa, the newly elected President of Sri Lanka, has invited Indian companies to invest in the country.
He said that India and China should invest in Sri Lanka’s future. He also invited Japan and Australia to invest in the country.
Earlier, Sri Lankan President visited India as his first foreign trip and a line of credit of USD 450 million was announced.
Banking & Finance
15th Finance Commission submits a report to President Kovind
A report prepared by the 15th Finance Commission has been submitted to President Ram Nath Kovind for 2020-21.
Earlier, this commission was constituted by President Ram Nath Kovind on November 27, 2017, to prepare some recommendations for a period of five years.
Now, the fifteenth Finance Commission has submitted its report for 1st April 2020 to 31 March 2025.
Reserve Bank keeps repo rate unchanged at 5.15 %
The Reserve Bank of India (RBI) in its fifth bi-monthly Monetary Policy has kept the policy repo rate unchanged at 5.15 per cent.
The six-member Monetary Policy Committee (MPC) headed by Governor Shaktikanta Das unanimously voted for a status quo policy.
The reverse credit policy has also maintained the reverse repo rate at 4.90 per cent and the marginal standing facility rate and Bank Rate at 5.40 per cent.
GDP growth for 2019-20 has been revised downwards from 6.1 per cent in the October policy to 5.0 per cent.
HDFC ERGO general insurance launches ‘my:health woman suraksha policy’
HDFC ERGO General Insurance Company, India’s third-largest non-life insurance provider in the private sector, has launched “my:health Woman Suraksha policy”, a comprehensive medical insurance scheme specially designed for women.
People aged 18–65 years are eligible for the policy & they offered a sum insured ranging from Rs. 1 lakh to 1 crore.
The policy is designed to provide financial support during medical emergencies and sicknesses in women’s lives. The policy provides for a reduction in women’s fitness (physical and mental fitness) during the course of the renewal.
This policy cover numerous types of cancers & related surgeries, pregnancy and neonatal (newborn baby) complications ,assaults, burns & also cover women from critical illnesses like Cardiac ailments, Rheumatoid Arthritis, and others along with post-diagnosis support,etc.
Business & Economy
Trai revamps mobile number portability, advises 3 working days for requests
Telecom regulator Trai revamped mobile number portability (MNP) rules, making the entire process faster and simpler, and prescribed three working days timeline for port out requests within a service area.
Similarly, timeline of five working days has been prescribed for requests for port out from one circle to another.
The new rules will come into effect from December 16.
Besides this, other major changes have been incorporated such as the validity of the Unique Porting Code or UPC has been brought down to four days instead of a fortnight prescribed earlier, for all circles except Jammu & Kashmir, Assam and North East, where the validity of the said code remains unchanged to 30 days
Swiss player Roger Federer becomes the 1st living Swiss to have his image engraved in the Swiss coin
Roger Federer(38), from Basel Switzerland becomes the first ever living Swiss to have his face engraved in the Swiss coin.
Roger’s image was engraved in a 20-Franc silver coin by the Swissmint, official mint of the Swiss Confederation.
It is the first time in history that a living person’s is being honoured with his image engraved on the Swiss coin.
The first minting ran off 55,000 units being sold out between the 2nd and 19th of December 2019 and more coins will be minted during May 2020 on a 50-Franc gold coin with a different design.
World Soil Day 2019 Observed
World Soil Day is observed on December 5 every year worldwide. The purpose of celebrating this day is to make the common people aware of the importance of soil.
It was announced in the 68th General Assembly of United Nations that World Soil Day to be celebrated every year on December 5.
It has been observed that fertile soil is becoming barren in many parts of the world. The increasing usage of chemical fertilizers and insecticides are the major reasons behind it.