International Current Affairs 05 July 2019
1. IMF approves $6 billion loans for cash-strapped Pakistan
The IMF on approved a USD 6 billion loan over a period of three years for cash-strapped Pakistan.
The loan aimed at returning sustainable growth to the country's fragile economy and improving the standards of living.Pakistan's finance ministry approached the International Monetary Fund (IMF) in August 2018 for a bailout package when the Imran Khan government took over.
National Current Affairs 05 July 2019
2. Modi greets people on Kutchi New Year
Prime Minister Narendra Modi has greeted the people on the occasion of Ashadhi Bij, the Kutchi New Year.
Kutchi New Year is celebrated on the second day of Ashadh, known as Ashadhi bij.Ashadhi bij is an auspicious day for farming communities in North India especially Gujarat.Kutchi community in Kutch region of Gujarat observes Kutchi New Year as per an indigenous calendar.This occasion is associated with the beginning of rains in Kutch.
3. Delhi Police signs pact to implement rooftop solar energy systems
The Delhi police will set up rooftop solar energy systems in over 200 of its buildings across the city.
A pact in this regard was signed between Solar Energy Corporation of India (SECI) and the Delhi police.With this project, it is estimated that Rooftop Solar Systems of the total capacity of about 3-4 MW will be implemented across various Delhi Police buildings.
4. SC Directs Meghalaya to Pay 100 Crore as Fine for Illegal Coal Mining
The Supreme Court directed the Meghalaya government to deposit the Rs 100 crore fine imposed on it by the NGT for failing to curb illegal coal mining with the Central Pollution Control Board (CPCB).
A bench of Justices Ashok Bhushan and K M Joseph directed the state administration to hand over the illegally extracted coal to Coal India Limited (CIL) which will auction it and deposit the funds with the state government.The bench also allowed the mining operation to go on in the state on the privately and community-owned land subject to the permissions from the concerned authorities.The National Green Tribunal had fined the Meghalaya government on January 4.
5. India's first Design Development Centre 'Fashionova' launched in Surat, Gujarat
India's first Design Development Center 'Fashionova' launched in the Textile city Surat.
The main objective of this studio is to provide a strong platform to all those who have a flair of the apparel business.Fashionava Design Development Centre has been started at Udhana area of the city with all state-of-the-art machinery and other facilities.The new centre will fulfil the needs of new designs of the city and all types of brands will be able to connect with emerging designers of the country.
6. Highlights of Economic Survey 2019-20 I
Finance and Corporate Affairs Minister Nirmala Sitharaman tabled the Economic Survey 2018-19 in both Houses of Parliament.
The survey projects GDP to grow at 7 per cent in 2019-20.
The Indian economy is expected to grow at 6.8 per in 2018-19 while maintaining macro-economic stability.
The fiscal deficit has been pegged at 3.4 per cent of GDP for 2018-19. The survey has provisionally estimated 2.9 per cent growth rate for the agriculture, forestry and fishing sector.
283.4 million tonne foodgrain production has been projected.
Imports are slated to grow at 15.4 per cent while exports are projected to grow at 12.5 per cent for the year 2018-19.
The survey also lays down the strategic blueprint for fructifying Prime Minister Narendra Modi’s vision of India becoming a 5 trillion dollar economy by 2025.
To achieve the vision, India needs to shift its gears to accelerate and sustain a real GDP growth rate of 8 per cent.
7. Highlights of Economic Survey 2019-20 II
It has put forex reserves at 412.9 billion dollars for fiscal 2018-19.
The theme of the survey is about enabling shifting of gears to sustained economic growth to achieve a 5 trillion dollar economy by 2025.
The Economic Survey 2018-19 highlights the importance of investing in social infrastructure, especially education and health, as a key priority in the development strategy to achieve inclusive growth.
India is working seriously to meet its commitments towards Sustainable Development Goals 2030.The expenditure on Social Services by the Centre and States increased from 7.68 lakh crores in 2014-15 to 13.94 lakh crore in 2018-19.
The expenditure on education increased from 2.8 per cent to 3 per cent and expenditure on health increased from 1.2 per cent to 1.5 per cent from 2014-15 to 2018-19.
Business Affairs 05 July 2019
8. Maharashtra ranks first in NITI Aayog's ease of doing farm business
Maharashtra achieved the first rank in NITI Aayog launched “Agricultural Marketing and Farmer Friendly Reforms Index (AMFFRI).
This index ranks states based on the degree of reforms they have undertaken in agricultural marketing.Gujarat ranks second with a score of 71.5 out of 100, closely followed by Rajasthan and Madhya Pradesh.NITI Aayog launched in 2016 an index to rank States and UTs based on the implementation of seven provisions proposed under the model APMC Act like joining the e-NAM initiative, special treatment to fruits and vegetables.
Important Sports Event 05 July 2019
9. Indian sprinter Hima Das bags gold in 200m in Poland
Star Indian sprinter Hima Das won the women’s 200m gold in the Poznan Athletics Grand Prix in Poland.
Hima, the world junior champion and national record holder in 400m who has been struggling with a back problem for the past few months.This was Hima’s first competitive 200m race of the year.Also, national record holder shot putter Tajinder Pal Singh Toor bagged a bronze in the event.