- 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.
- 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
- 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.
- 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.
- 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.
- 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.
♦ 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.
- 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.
- 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.
♦ 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
- 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).
- 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.
- 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
- 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.
- 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.
- 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
- 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.
- 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.
- 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.
- 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.