Current Affairs for IAS Exams - 20 August 2019

::NATIONAL::

Govt.reiterates commitment to eradicate manual scavenging

Union Minister, Ministry of Social Justice and Empowerment (MoSJ&E) has stated that the Government is fully committed to eradicate manual scavenging through the ‘The Prevention of Employment as Manual Scavengers and their Rehabilitation Act, 2013’.
The Minister for Social Justice & Empowerment added that the Government has been laying increasing emphasis on mechanical cleaning and preventing human entry into sewer and septic tanks to the extent possible through the use of modern technologies.
Further, Shri Gehlot said, Through the National Safai Karmacharis Finance and Development Corporation (NSKFDC) formal integration of these workers is being done through the disbursement of grants, provision of loans and livelihood training programs.
The Ministry has undertaken various initiatives to eliminate human entry into septic tanks and sewers and create an ecosystem for sustainable sanitation - the publication of documents such as the CPHEEO Manual on Sewerage and Sewage Treatment Systems (2013) and Standard Operating Procedures for Cleaning of Sewers and Septic Tanks (2018) or organizing of the Global Technology Challenge, being some of them.
The long interaction among stakeholders is expected to provide a comprehensive roadmap for ensuring sustainable sanitation in urban areas. States and ULBs will take these insights into their respective areas to further strengthen their strategy for achieving safe, sustainable and holistic sanitation.

Flood situation creates havoc in Northern states of India

In Uttar Pradesh, Ganga is flowing over danger mark at several places including at Kachhla Bridge in Badayun and Naraura in Bulandshahar and in Balia district. Sharda River at Palia Kala in Lakhimpur Khiri and Ghagra at Algin bridge in Barabanki have already crossed red level. The District Administrations have issued and people in catchment areas going to safer places.
In Uttrakhand, the death toll in Mori subdivision of Uttarkashi district has risen to 10. Officials said, 6 people, have gone missing. Secretary, Disaster Management Amit Negi told media that rainfall has caused a loss of around 100 crores in the state till now. Rescue and relief work is in full swing in the affected areas of Uttarkashi.
In Himachal Pradesh, the death toll has risen to 25 after one more death reported from Chamba district due to heavy rain. Chamba, Kullu, Shimla, Sirmaur and Solan districts are worst hit during the past 48 hours now. More than 800 roads are closed and hundreds of vehicles are stranded in the tribal area of Lahaul Spiti due to unexpected snowfall triggered landslides.
In Punjab, Chief Minister Captain Amarinder Singh today announced Rs 100 Crore for emergency relief for the flood-hit people. He said a special survey of agricultural land will be conducted to asses the damage as soon as the water level recedes to ensure adequate compensation for the affected farmers.
In Delhi, Yamuna has breached danger mark this evening. Chief Minister Arvind Kejriwal said, his government and the Centre are monitoring the situation. He said the rise in water level in the Yamuna is due to discharge of record 8.28 lakh Cusecs of water from Haryana.

::ECONOMY::

Finance ministry to consider cutting of corporate tax for companies

Finance Minister Nirmala Sitharaman on Monday said corporate tax rate for companies with over ₹ 400 crore turnover will be gradually cut to 25% and the government will support wealth creators.
In her maiden Union Budget last month, she had cut corporate tax for companies with annual turnover of up to ₹ 400 crore to 25% from 30% earlier.
Last year, the then Finance Minister Arun Jaitley had cut the corporate income tax rate to 25% for companies with a turnover of up to ₹ 250 crore.
Speaking at an industry event here, Ms. Sitharaman said the corporate tax reduction for the rest of corporates would be gradual.She did not give a timeframe for the reduction.
Echoing Prime Minister Narendra Modi’s Independence Day speech, she said Indian wealth creator entrepreneurs will be given all kind of support.
Mr. Modi had in his annual Independence Day address to the nation on August 15 had extolled the role of wealth creators and said they must not be viewed with suspicion.
“Let us never see wealth creators with suspicion. Only when wealth is created, wealth will be distributed,” he had said. “Wealth creation is absolutely essential. Those who create wealth are India’s wealth and we respect them.”

RBI rules out asset quality review of NBFC’s

After over a dozen public sector banks, including State Bank of India, have voluntarily linked their loans and deposits pricing to the repo rate.
Reserve Bank Governor Shaktikanta Das today stressed on the need for the entire system switching to this model. Speaking at an annual banking conference organized by the industry lobby FICCI in Mumbai, the RBI Governor said such a move can speed up the monetary transmission process.
While the SBI was to first one to link its loans and deposits to the repo rate from May and home loans from July. Six other peer banks like Bank of Baroda, Union Bank and Canara Bank among others also announced the same last week.
Earlier this month, in last monetary policy, RBI lowered the repo rates by 35 basis points to a nine-year low of 5.4 percent.

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::INTERNATIONAL::

Energy sector to be the priority in India’s G7 meet

India remains politically committed to the completion of the Jaitapur nuclear power project, which is being built in partnership with France. A statement regarding the project was made as the External Affairs Ministry announced that Prime Minister Narendra Modi will attend the outreach session of the G7 meet at Biarritz, France, where India is a special invitee.
The visit to Biarritz is part of the multi-nation tour that Mr. Modi will undertake from August 23. He will visited the UAE, Bahrain and France. The invitation to visit France was extended by President Emmanuel Macron after Mr. Modi was re-elected to a second term in office.
At the G7 summit, Mr. Modi is expected to highlight climate change and counter-terrorism with partner countries.The interactions with the French leadership is likely to include solar energy and multilateral.
The Indian leader is expected to hold several bilateral meeting with global leaders, though the Ministry did not confirm the meetings.

U.S economists predict recession in 2020-2021

A majority of economists expect a U.S. recession in the next two years, but have pushed back the onset amid Federal Reserve actions, according to a survey released on August 19.
The National Association for Business Economists (NABE) found far fewer experts now think the next recession will start this year compared to a survey in February. NABE conducted its policy poll as President Donald Trump put the Fed under constant attack, demanding more stimulus, but before the central bank cut the benchmark lending rate on July 31.
However, “the panel is split regarding whether the downturn will hit in 2020 or 2021, Hunter said in a summary of the survey, which showed 38% expect a contraction of growth next year, while 34% don't see it until the following year.
More economists shifted their recession prediction to 2021, narrowing the gap from the prior report, which had many more expecting the change next year.
The survey also asked about fiscal policy, and a majority of economists said Trump's tax cuts “had an overall negative impact on housing activity over the past 18 months,” due to changes in deductions allowed for mortgage interest.

::SCIENCE & TECHNOLOGY::

Study claims India as largest emitter of Sulphur dioxide

India is the world’s largest emitter of anthropogenic sulphur dioxide, which is produced from coal burning, and greatly contributes to air pollution, a study claimed on August 19.
According to an analysis of a National Aeronautics and Space Administration (NASA) data released by environmental NGO Greenpeace on August 19, India has more than 15% of all anthropogenic sulphur dioxide (SO2) hotspots in the world detected by the OMI (Ozone Monitoring Instrument) satellite.
The NASA data also highlights other hotspots across the globe, with the Norilsk smelter complex in Russia being the largest SO2 emission hotspot in the world, followed by Kriel in Mpumalanga province in South Africa and Zagroz in Iran.
In December 2015, the Ministry of Environment, Forest and Climate Change had introduced for the first time SO2 emission limits for coal power plants with an initial deadline to retrofit technology to control SO2 emissions from power generation by December 2017.
According to the analysis, air pollution is a huge public health concern, with 91 per cent of the world’s population living in areas where outdoor air pollution exceeds guideline limits by the World Health Organization (WHO) and as a result, 4.2 million people die prematurely every year.

::SPORTS::

Indian boxers clinch 12 medals at Serbia

India's junior women boxers clinched 12 medals at the third Nation's Cup in Vrbas, Serbia. The team won four gold, four silver and four bronze medals and claimed the runners-up trophy.
Tamanna clinched gold in 48 Kilogram category along with Ambeshori Devi in 57 Kilogram, Preeti Dahiya in 60 Kilogram and Priyanka in 66 Kilogram category.