October 26, 2019

National

  1. Hikes MSP for wheat by 85, pulses by 325 per quintal
  • In a move to increase farmers’ incomes, the Union Cabinet has decided to hike the Minimum Support Price (MSP) for Rabi crops for the marketing season 2020-21.
  • The increase in MSP for Rabi Crops for 2020-21 is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the all India weighted average cost of production [CoP], which was announced in the Union Budget 2018-19.
  • The highest increase has been recommended for lentils (increase of ₹325 to ₹4,800 a quintal) followed by safflower (increase of ₹270 to ₹5215 a quintal) and gram (an increase of ₹255 to ₹4875).
  • The MSP of rapeseed & mustard has been increased by ₹225 to ₹4,425. For both wheat and barley, it has been increased by ₹85 to ₹1925 and ₹1525 per quintal, respectively.
  1. Indian Railway launches One Touch ATVM for fast ticketing
  • Indian Railways has launched ‘one touch ATVM’ at 42 suburban stations of Central Railway to render fast ticketing to millions of commuters over Mumbai Suburban Network.
  • This new machine will reduce the waiting time of the passengers and allow passenger to avoid standing in long queues.
  • A total of 92 ATVMs has been installed at 42 suburban stations.
  • The new machine is loaded with the user friendly which will greatly ease the load on ticketing system of Mumbai Suburban Network
  1. New Delhi to Host First “Global Bio-India 2019” Summit from 21st – 23rd November
  • The Global Bio-India 2019, one of the largest biotechnology stakeholder’s conglomerate will be held for the first time in India at New Delhi from 21st to 23rd November, 2019. Announcing this at a Curtain Raiser in Delhi.
  • India for the first time is hosting a mega event for the biotech community to attract investments, showcase our indigenous strengths and more importantly fuel the hopes and aspirations of the indigenous talent pool.
  • The Department of Biotechnology (DBT), Ministry of Science & Technology, Government of India along with its Public Sector Undertaking, Biotechnology Industry Research Assistance Council (BIRAC) is organizing this event.

State

  1. Gandhinagar becomes first kerosene-free district of Gujarat
  • Gandhinagar has become Gujarat’s first Kerosene-free district. Home Minister Amit Shah announced this and allotted 1,000 LPG connections to the people in Gandhinagar.
  • Amit Shah said on this occasion that rural women have been allotted LPG connections under the Ujjwala Yojana.
  • It was also announced that ONGC completed this scheme with a cost of Rs. 6.13 core. This scheme is covering more than 75,000 rural women.
  1. Yogi Adityanath launched Mukhya Mantri Kanya Sumangala Yojana
  • Uttar Pradesh Chief Minister Yogi Adityanath launched the Mukhya Mantri Kanya Sumangala Yojana in Uttar Pradesh on 25 October.
  • He launched by transferring the amount to the account of beneficiaries.
  • He also launched the Kanya Sumangala web portal and gave away certificates and symbolic cheques to some beneficiaries.
  • Aim: Mukhya Mantri Kanya Sumangala Yojana aims to empower the girl child. The scheme of state government will help in achieving the goals set by Prime Minister Narendra.
  1. West Bengal to abolish the no detention policy
  • The West Bengal government has decided to re-introduce the pass-fail system in classes five and eight to abolishing the no-detention policy.
  • The announcement was made by the State Education Minister Partha Chatterjee.

No-detention policy:

♦ The system will be implemented in the next academic session.

♦ Under the policy, students would have to pass examinations to be promoted to classes 6 and 9 from the next academic session.

International

  1. India, Pakistan signed an agreement on visafree Kartarpur corridor
  • India signed a Memorandum of Understanding (MoU) with Pakistan on Kartarpur Corridor.
  • The agreement will operationalize the Kartarpur Corridor that will pave the way for Indian Sikh pilgrims to visit the holy Darbar Sahib shrine in Pakistan.
  • The Kartarpur corridor links two important Sikh shrines on both sides.
  • India has asked Pakistan to reconsider its demand for charging $20 service fee a pilgrim.
  1. India and the US signed an agreement to collaborate on Aerial Systems, Small Arms
  • India and the US signed a statement of intent (SOI) on key deliverables, including collaboration on strategic projects in the areas of unmanned aerial systems, small arms technology, and surveillance.

Agreement:

♦ The agreement aims to revitalize a defense technology sharing pact.

♦ The agreement also aims to speed up defense collaboration in critical areas, which was made at the 9th India-US Defence Technologies and Trade Initiative (DTTI) group meeting.

Banking & Finance

  1. Fitch Rating slashes India’s GDP growth forecast to 5.5% for FY20
  • Fitch Ratings slashed India’s GDP growth forecast in the current fiscal to 5.5 per cent saying a large credit squeeze emanating from shadow banks has pushed economic growth to a six year low.
  • India’s GDP growth at 6.6 per cent for the fiscal year that began in April 2019.
  • The projection is lower than 6.1 per cent that the Reserve Bank of India (RBI) had forecast in early October.
  • GDP expansion will pick up to 6.2 per cent in the next financial year (2020-21) and to 6.7 per cent in the year after(2021-22).
  1. World Bank inks agreement project to support smallholder farmers in Odisha
  • The Central Government, Odisha government and the World Bank signed a loan agreement worth $165 million to support smallholder farmers in the state.
  • The project “The Odisha Integrated Irrigation Project for Climate Resilient Agriculture” will be implemented in Odisha’s rural areas which are vulnerable to droughts and largely dependent on rainfed agriculture.
  • It will benefit about 125,000 smallholder farmer households from 15 districts of Odisha managing 128,000 hectares of agricultural land.
  • The project will strengthen the resilience of smallholder farmers against adverse climate by improving access to resilient seed varieties and production technologies, diversifying towards more climate-resilient crops, and improving access to better water management and irrigation services.
  • The project in Odisha is among several such initiatives supported by the government in our commitment to achieve the sustainable agriculture-related targets of the SDGs by 2030.
  1. Vijaya Bank Museum inaugurated in Bengaluru
  • The Vijaya Bank Heritage Museum was inaugurated old headquarters of Vijaya Bank, Bangalore
  • Jose J. Kattor, regional director of RBI Bengaluru, inaugurated the museum
  • This museum has a unique collection of photographs which demonstrate the development of the bank. This museum brings back memories of the history of the former Vijaya Bank
  • Vijaya bank was established on October 23, 1931, the erstwhile Vijaya Bank was one of the premier nationalised banks in the country.
  • Vijaya Bank and Dena Bank merged with Bank of Baroda

Business & Economy

  1. Google achieves ‘quantum supremacy’
  • Google has achieved quantum supremacy with its advanced processor that was able to surpass the world’s most powerful supercomputer.
  • Google says that its 54-bit Sycamore processor was able to perform a calculation in 200 seconds that would have taken the world’s most powerful supercomputer 10,000 years.
  • Meanwhile, IBM – the company operating the supercomputer that Google claims to have beaten is disputing the claims.
  • The search giant has made the details of its research public for the scientific community to fully scrutinize its achievement.

Sports

  1. China to host expanded Club World Cup in 2021
  • FIFA has awarded the inaugural edition of its expanded 24-team Club World Cup to China, the association’s president Gianni Infantino announced in Shanghai.
  • Currently the FIFA Club World Cup features 7 teams including the holders of the UEFA Champions League.
  • Qatar is the host nation for the competition to be held 2019 and 2020.
  1. India slip to 106 in latest FIFA rankings, Belgium retain top spot
  • The Indian football team slipped two places to 106 in the latest FIFA rankings after their 1-1 draw with much lower-ranked Bangladesh in the World Cup qualifier earlier this month.
  • Bangladesh, meanwhile, jumped three spots to 184 riding the result which their head coach Jamie Day had described as being similar to India’s famous tie against Qatar.
  • Meanwhile, Belgium has remained at the top spot in the rankings with France and Brazil also holding on to their positions.
  • Top-ten rivals Uruguay (5th, up 1), Croatia (7th, up 1), Argentina (9th, up 1) have edged closer to the summit.
  • But the most significant rises are to be found further down the Ranking, where the in-form quartet of Ukraine (22nd, up 3), Japan (28th, up 3), Turkey (32nd, up 4) and Russia (37th, up 5) are among the more notable climbers.

Award & Honors

  1. Jailed Uighur academic IlhamTohti wins Sakharov Prize
  • The European Union awarded its top human rights prize ‘Sakharov Prize’ to economist IlhamTohti for his work defending China’s Uighur minority and urged Beijing to release him from jail.
  • The European Parliament described Tohti as a “voice of moderation and reconciliation” who campaigned for the implementation of regional autonomy laws in China.
  • The EU award, named after Soviet dissident Andrei Sakharov, was created in 1988 to honor individuals or groups who defend human rights and fundamental freedoms.
  1. BharatPe has won the DigiDhan Mission Fin-tech Award
  • BharatPe has won the DigiDhan Mission Fin-tech Award 2018-2019 for ‘Innovation in Digital Payments through Emerging Technology’ at the MeitY Start-up Summit 2019 held in Delhi.
  • The award aims to promote digital payment in India. The award was presented by the Union Minister of Communication, Electronics & IT and Law & Justice Ravi Shankar Prasad.
  • The winners were evaluated by a panel on their relevance in promoting digital payment solutions in Indian hinterlands.

Important Days

  1. National Unity Day will be celebrated on October 31
  • To mark the birth anniversary of Ironman Sardar Vallabhbhai Patel, National Unity Day will be celebrated on October 31.
  • Union Government will organise Ek Bharat-Shreshtha Bharat program in 600 districts of the country to celebrate this day.
  • Union Home Minister Amit Shah will also flag off the commemorative ‘Run For Unity’ from Major Dhyanchand National Stadium, New Delhi.
  1. ITBP’s 58th Raising Day observed
  • A full cadre review for Indo-Tibetan Border Police has approved in a cabinet meeting chaired by Prime Minister Narendra Modi.
  • More than 3000 new posts will be created for raising of two operational commands of ITBP at Guwahati and Chandigarh.
  • Cabinet approved two commands for 3488 km long LAC with China.
February 2, 2020

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