Current Affairs for IAS Exams - 13 May 2020

Current Affairs for IAS Exams - 13 May 2020


PM announces special package worth 20lakh cr to kickstart economy

  • Prime Minister Narendra Modi has announced a special economic package worth 20 lakh crore rupees for an 'Atma-Nirbhar Bharat' or self-reliant India, saying that self reliance is the only way to ensure that 21st Century belongs to India.
  • Addressing the nation yesterday, the Prime Minister noted that this package, together with earlier announcements by the government during COVID crisis and decisions taken by RBI, is to the tune of 20 lakh crore rupees. This is equivalent to almost 10 percent of India’s GDP.
  • The Prime Minister said several bold reforms are needed to make the country self-reliant, so that the impact of crisis such as COVID, can be negated in future. These reforms include supply chain reforms for agriculture, rational tax system, simple and clear laws, capable human resource and a strong financial system. These reforms will promote business, attract investment, and further strengthen Make in India.
  • He praised India's ancient culture saying that the wisdom of age old principles such as Vasudaiva Kutumbakam and harmony with nature ensure that world progress is central to India's conception of progress.
  • Mr Modi clarified that when India talks about self-reliance, it is different from being self-centred. He said that India considers the world as one family, and progress in India has always contributed to progress in the whole world.
  • He also said India's initiatives such as the International Solar Alliance were a gift to the world. Our centuries old conception of self-reliance has always followed the path of global progress.

India to miss nutrition targets as per global nutrition report

  • India is among 88 countries that are likely to miss global nutrition targets by 2025, according to the Global Nutrition Report 2020 released on Tuesday. It also identified the country as one with the highest rates of domestic inequalities in malnutrition.
  • According to the Global Nutrition Report 2020, India .........................................................



SEBI relaxes norms for banks and insurers in terms of financials

  • Listed companies can conduct their annual general meetings (AGMs) through video conferencing while banks and insurance companies have been given the option of submitting only the standalone numbers instead of consolidated financials.
  • Further, norms related to sending physical copies of annual reports or publishing certain statutory advertisements have also been relaxed due to COVID-19 pandemic.
  • Meanwhile, the regulator has received representation from listed companies that banks or insurance companies as well as those that have banks and insurance companies as subsidiaries are facing challenges in preparing consolidated financial results.
  • The regulator has made it voluntary for banking and insurance companies to submit consolidated results for June quarter though such entities still have to submit standalone numbers.
  • Among other things, the regulator has waived the requirement of companies sending physical forms for proxy attendance if the meetings are held electronically.
  • The exemptions related to publishing certain statutory advertisements in newspapers till May 15 have been extended until June 30.

No increase in rent for SEZ’s in current financial year,claims government

  • Union Government has said that there will be no increase in lease rent for the Special Economic Zone, SEZ units for financial year 2020-21.
  • The decision has been taken in order to provide......................................................


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India caught in U.S-China spat over Taiwan

  • As tensions between the U.S. and China rise over the novel coronavirus pandemic, India, which is set to take over as the next Chairperson of the World Health Organization’s decision-making executive body in May, is faced with a major choice on whether to support a U.S. move to reinstate Taiwan’s observer status at the World Health Assembly (WHA) or to China’s opposition to it.
  • On Wednesday, Mr. Jaishankar will take part in a virtual meeting of the 8-nation Shanghai Cooperation Organisation (SCO) led by China and Russia, which will discuss responses to the pandemic.
  • The meeting was held on the same day the U.S. Senate passed an Act (S.249) to “direct the Secretary of State to develop a strategy to regain observer status for Taiwan in the World Health Organization”, beginning with its decision-making body, the WHA.
  • India is likely to hold the post for the next three years. The timing of the appointment is crucial, given the worldwide debate on the role of the WHO during the pandemic, and criticism of WHO Director-General Tedros Adhanom Ghebreyesus.
  • The meeting was attended by the foreign ministers of Australia, Brazil, India, Israel, Japan, and the Republic of Korea. Significantly, all invitees other than India are major non-NATO allies of the United States, who would be expected to support Washington’s call.
  • The MEA declined to comment on whether Taiwan was discussed during the meeting, or whether India has decided on supporting the U.S. on its move to include Taiwan as a WHA participant. A senior official said the meeting had discussed “strengthening and reforming” the WHO.

Indian army says no violation of air space with china near ladakh

  • Helicopters of the Chinese People’s Liberation Army (PLA) came close to the border during the face-off with the Indian Army near Pangong Tso lake in Eastern Ladakh last week, but there was no air space violation on either side, Indian Air Force (IAF) sources said on Tuesday.
  • Separately, Army spokesperson Col. ........................................



Government makes mandatory installation of Arogya Setu app for returning migrants

  • Expanding the ambit of the Aarogya Setu app, the Union Health Ministry on Tuesday directed that downloading it be made compulsory for all returnees (migrant labourers and those coming from abroad) for better contact surveillance and suitable medical intervention.
  • It also asked the States to ramp up surveillance for Severe Acute Respiratory Infections (SARI) or Influenza-like illnesses (ILI) to detect any possible hidden infection at an early stage to ensure timely containment.
  • In addition to making the ......................................



Women’s FIFA under 17 worldcup rescheduled to March 2021

  • The FIFA U-17 Women’s World Cup, originally scheduled to be held later this year, has now been rescheduled to February 17-March 7, 2021.
  • However, the age eligibility for players is the same, making even those turning 18 in this period eligible for participation since the organisers have decided to treat the tournament as the 2020 edition only.
  • The 2020 U-20 Women’s World Cup, in Costa Rica / Panama, has also been rescheduled to January 20-February 6, 2021 while the 2020 Futsal World Cup would be held from September 12-October 3, 2021 in Lithuania. The tournaments, though, remain conditional subject to further monitoring of the pandemic.

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