Assam Current Affairs – March 08 – 14, 2020

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Current Affairs Assam – March 8 - 14, 2020

( Covers all important Assam Current Affairs & GK topics for the week of March 8 – 14, 2020 )

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MARCH 08, 2020

Delimitation Commission for north-eastern states constituted
  • Former Supreme Court judge Ranjana Prakash Desai will head the Delimitation Commission that will redraw Lok Sabha and Legislative Assembly constituencies of the north-eastern states of Assam, Arunachal Pradesh, Manipur and Nagaland.
  • Election Commissioner Sushil Chandra and a representative of the state election commission of the four northeastern states will be the ex officio members.
  • The commission will delimit the constituencies of Assam, Arunachal Pradesh, Manipur and Nagaland in accordance with the provisions of the Delimitation Act, 2002.

FACTFILE – Delimitation Commission of India

  • The Delimitation commission (Boundary commission) of India is a commission established by the Government of India under the provisions of the Delimitation Commission Act.
  • The main task of the commission is redrawing the boundaries of the various assembly and Lok Sabha constituencies based on a recent census.
  • The representation from each State is not changed during this exercise. However, the number of SC and ST seats in a state are changed in accordance with the census.
  • The present delimitation of constituencies has been done on the basis of 2001 census under the provisions of Delimitation Act, 2002.
  • The Commission is a powerful and independent body whose orders cannot be challenged in any court of law.
  • Delimitation commissions have been set up four times in the past — 1952, 1963, 1973 and 2002 — under Delimitation Commission Acts of 1952, 1962, 1972 and 2002.
  • The union government had suspended delimitation in 1976 until after the 2001 census so that states’ family planning programs would not affect their political representation in the Lok Sabha. This had led to wide discrepancies in the size of constituencies, with the largest having over three million electors, and the smallest less than 50,000.

FACTFILE – Delimitation Commission of 2002

  • The most recent delimitation commission was set up on 12 July 2002 after the 2001 census with Justice Kuldip Singh, a retired Judge of the Supreme Court as its Chairperson.
  • The Commission has submitted its recommendations. On December 2007, the Supreme Court on a petition issued notice to the central government asking reasons for non implementation. On 4 January 2008, the Cabinet Committee on Political Affairs (CCPA) decided to implement the order from the Delimitation Commission.
  • The recommendations of the Commission was approved by President Pratibha Patil on 19 February. This means that all future elections in India for states covered by the commission will be held under the newly formed constituencies.
  • The present delimitation of parliamentary constituencies has been done on the basis of 2001 census figures under the provisions of Delimitation Act, 2002.
  • However, the Constitution of India was specifically amended in 2002 not to have delimitation of constituencies till the first census after 2026. Thus, the present constituencies carved out on the basis of 2001 census shall continue to be in operation till the first census after 2026.
  • The assembly election in Karnataka, conducted in three phases in May 2008, was the first to use the new boundaries as drawn by the 2002 delimitation commission.
President of India confers Nari Shakti Puraskar for 2019
  • The President of India, Ram Nath Kovind presented Nari Shakti Puraskar for the year 2019 at a special ceremony held in Rashtrapati Bhavan, New Delhi on the occasion of International Women’s Day.
  • The awards were conferred on 15 eminent women in recognition of their efforts in rendering distinguished services towards emancipation of women, especially vulnerable and marginalized women.
  • Nari Shakti Puraskar is an initiative of the Ministry of Women and Child Development to acknowledge the exceptional contribution made by individuals and institutions, to celebrate women as game changers and catalyst of positive change in the society.

The winners of the Nari Shakti Puraskar for the year 2019 are

NAME STATE
Padala Bhudevi Andhra Pradesh
Bina Devi Bihar
Arifa Jan Jammu and Kashmir
Chami Murmu Jharkhand
Nilza Wangmo Ladakh
Rashmi Urdhwareshe Maharashtra
Sardarni Mann Kaur Punjab
Kalavati Devi Uttar Pradesh
Tashi and Nungshi Malik Uttarakhand
Kaushiki Chakroborty West Bengal
Bhageerathi Amma

Karthyayini Amma

 Kerala
Avani Chaturvedi

Bhawna Kanth

Mohana Singh

Madhya Pradesh

Bihar

Uttar Pradesh

 

PM hands over Twitter handle to women achievers
  • Prime Minister Shri Narendra Modi has said that women achievers will share their life journey through his social media accounts on the occasion of International Women’s Day.
  • Women from across India are sharing their life stories on the Prime Minister’s twitter handle. The journeys shared by women from all walks of life are exemplary and motivating. 
  • A Chennai-based food activist, Sneha Mohandoss was the first women to take over the PM’s account Sunday morning. Founder of Food Bank India, Mohandoss is striving for a hunger-free planet.
  • Malvika Iyer is a bomb blast survivor, who lost her hands and damaged her legs in the grenade blast in her home in Bikaner in 2002, when she was 13 years old. Iyer was bedridden for over 18 months and underwent multiple surgeries for over two years to get back on her feet.
  • Arifa is a Kashmiri activist seeking to revive the traditional Namda crafts of the region.
  • A Hyderabad-based architect, Kalpana Ramesh runs a city-based project to conserve lakes and rivers. The government and forest authorities have also been collaborating with her in the endeavour to conserve water.
  • An artisan from the Banjara community of rural Maharashtra, Vijaya Pawar was the fifth woman to take over Modi’s social media account.
  • Kalavati is an activist who campaigns against open defecation, A mason who hails from Kanpur, Kalavati is on a mission to build toilets across the lower income households in the city.
  • An organic farmer, Veena Devi has been growing mushrooms at home for several years now, through some unique farming-at-home techniques. She has also encouraged several other women to do grow mushrooms in a similar manner.
Tech Mahindra launches women-led ‘Ideathon‘ to drive tech innovation
  • Makers Lab, the research and development arm of IT major Tech Mahindra launched a women-led “Ideathon” aimed at solving real world challenges through technology, especially in the defence space.
  • Announced on International Women”s Day, the Ideathon will run for four weeks and will end on April 7.
  • Makers Lab, is to promote technology innovation and provide a common platform where academia and industry can come together to create disruptive solutions to solve real world problems.
  • The Ideathon will consist of two rounds. The top 20 ideas will be rewarded and will get a chance to interact with instructors as well as Army officers of College of Military Engineering (CME), Pune.
  • College of Military Engineering is a premier technical and tactical training institute of the Indian Army (Corps of Engineers) with a focus on promoting innovative technologies like Artificial Intelligence and Robotics for the Indian Army.

MARCH 09, 2020
Karbi Anglong Autonomous Council (KAAC) chief presents deficit budget
  • The Chief Executive Member (CEM) of Karbi Anglong Autonomous Council (KAAC) Tuliram Ronghang presented Rs 38.97-crore deficit budget for the year 2020-21 for the council.
  • The budget also proposed an estimated expenditure of Rs 225 crore for the fiscal to carry out developmental activities.
  • The Council’s main sources of revenue are derived mostly from forest products, entry tax, professional tax, trade callings, land revenue, share of motor vehicle tax, sale proceeds from weekly markets, ghats, fisheries and cattle pounds.
  • In order to increase the revenue kitty, the CEM also proposed new fee hike on trading license, transfer of land and other trades.
  • The KAAC is likely to receive an amount of Rs 50 crore of administrative charges and share of motor vehicle tax from the state government. Similarly, the KAAC would receive excise and export revenues from 2021
  • The MAC development fund has been increased to Rs 30 lakh from Rs 15 lakh. The state government has assured that the excise and export revenues will be handed over to the KAAC fully and the amount may touch Rs 100 crore from April next year.
NITI Aayog organizes the fourth edition of the Women Transforming India Awards
  • NITI Aayog organized the Fourth Edition of the Women Transforming India Awards and Rajnath Singh, presided over as the chief guest of the event and conferred the WTI Awards.
  • WTI Awards are NITI Aayog’s initiative to highlight the commendable and ground-breaking endeavours of India’s women leaders and changemakers.
  • Since 2018, the Awards have been hosted under the aegis of NITI Aayog’s Women Entrepreneurship Platform with a special focus on entrepreneurship. 

The winners of WTI Awards are

  • Priyanka Mokshmar is the co-founder of Vaayu Home Appliances
  • Ramya Venkataraman’s Centre for Teacher Accreditation (CENTA)
  • Shilpi Kapoor BarrierBreak
  • Rinka Banerjee Thinking Forks
  • Nidhi Pant Science for Society team
  • Anupriya Balikai Spookfish Innovations
  • Kalpana Sankar Hand in Hand
  • Khushboo Jain ImpactGuru
  • Sneha Sundaram Kutuki, Jayanti Pradhan an agro-processor and farmer from Odisha
  • Jugnu Jain founder and CSO, of Sapien Biosciences
  • Pratyusha Pareddy NemoCare
  • Poonam BirKasturi Daily Dump
  • Ruchi Jain Taru Naturals
  • Sujata Sahu 17000 ft Foundation
  • Dr Praveen Nair Founder Trustee of Salaam Baalak Trust.
Shri Krishan Pal Gurjar Presents Awards to Divyang Artisans & Entrepreneurs
  • Shri Krishan Pal Gurjar, Minister of State for Social Justice & Empowerment presented awards to Divyangs artisan and entrepreneurs who participated in exhibition cum fair “Ekam fest” organized by National Handicapped Finance Development Corporation under M/o Social Justice & Empowerment.
  • 82 Divyang artisans and entrepreneurs from 17 States/UTs showcased their products in the week long Ekam Fest.
  • The Ekam fest gave platform to PwD artists to present their skill in the cultural evenings. In the Ekam Fest, Divyang Entrepreneur and artisans from all over the country.
  • The Fest presented vibrant products of from J&K and NE with products ranging from handicraft, handloom, Embroidery work and dry fruits.
  • In the fest, live demonstrations of products making were given by around 12 organisations and artisans which included: live demo of looms, embroidery, free and paintings, wheat grass paintings etc.
  • NHFDC provides financial assistance to the Divyangjan (Persons with Disabilities) for their economic rehabilitation and provides number of skill development programmes to empower them to grow & sustain their enterprises.
Odisha govt creates ‘Mission Shakti’ Dept for women development
  • Odisha Chief Minister Naveen Patnaik announced the creation of a ”Mission Shakti” department, exclusively for the development of the women.
  • He announced that Odisha will be the first state to have an exclusive department for the self-help groups. This will be called the Department of Mission Shakti and will be dedicated to all the women of Odisha.
  • 70 lakh women are getting benefits under Mission Shakti and Mamata Scheme and 50 per cent reservation in Panchayati Raj has ushered in a new era for the socio-economic development of women.
  • He said that the state government has introduced an independent Nutrition Budget whose focus will be on mother-child nutrition.

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MARCH 10, 2020
10 schools in Kamrup (M) adopted under Rural Education Program
  • SRF Foundation in collaboration with the State Education Department has implemented its flagship Rural Education Programme in Dimoria block of Kamrup (M) district by adopting 10 government schools.
  • Under the Rural Education Programme, the SRF Foundation organised an event ‘Academic Mela and Stakeholders Felicitation’ for its 10 adopted government schools at Pub Dimoria ME School ground (Topatali).
  • Under the Rural Education Programme, the Academic Mela and Stakeholders Felicitation is to further motivate and enhance on sharing of innovative ideas, best practices and ensuring sustainable teaching-learning practices of the schools.
  • As many as 12 stalls were installed at the Mela by the students of 10 government schools demonstrating various creativity and innovations.
HAL plans to set up logistics bases in Malaysia, Vietnam, Indonesia and Sri Lanka
  • Hindustan Aeronautics Ltd (HAL) is looking at setting up logistics bases in Malaysia, Vietnam, Indonesia and Sri Lanka as part of initiatives to woo the countries to buy India’s light combat aircraft Tejas and military helicopters.
  • Chairman and Managing Director of HAL R Madhavan said that HAL is now seriously focusing on boosting exports in sync with the government’s priority and identified South East Asia, West Asia and North Africa to sell key platforms like Tejas, attack helicopter Rudra and advanced light helicopter Dhruv.
  • Prime Minister Narendra Modi has set an ambitious defence export target of $5 billion dollars in the next five years and asked all the key military manufacturers to work hard to achieve the target.
MoST launches helpline for women scientists, students, researchers
  • On International Women’s Day, Union Science and Technology Minister Harsh Vardhan launched a helpline number for women students, researchers, entrepreneurs and scientists to get their queries related to the ministry’s programmes answered.
  • They will also get information about qualifications or other requirements to avail benefits of schemes under the Ministry of Science and Technology (MoST).
  • Launched by President Ram Nath Kovind last month, the Vigyan Jyoti scheme identifies girl students at the district level with interest in science.
  • Selected women from more than 500 districts, would be given opportunities to attend science camps at IITs, NITs and other leading institutions of science and technology education where women are not adequately represented.

MARCH 11, 2020

Indian states advised to invoke Epidemic Disease Act, 1897 on epidemics
  • To combat the coronavirus outbreak, the Central government decided that all states should be advised to invoke the necessary provisions of the Epidemic Disease Act, 1897 to enforce all advisories.
  • It was decided that all states/UTs should be advised by the Union Health Ministry to invoke provisions of Section 2 of Epidemic Disease Act so that all advisories being issued from time to time by the Ministry of Health & Family Welfare/State/UTs are enforceable.
  • Section 2 of the 1897 Act gives the power to take special measures and prescribe regulations as to dangerous epidemic disease.
  • It also gives the power for inspection of “persons travelling by railway or otherwise, and the segregation, in hospital, temporary accommodation or otherwise, of persons suspected by the inspecting officer of being infected with any such disease”.
Coronavirus outbreak could cost global economy up to USD 2 trillion, says UNCTAD
  • The coronavirus outbreak could cost the global economy up to USD 2 trillion this year, the United Nations Conference on Trade and Development (UNCTAD) said, warning that shock from the epidemic will cause a recession in some countries and depress global annual growth to below 2.5 per cent.
  • “We envisage a slowdown in the global economy to under two per cent for this year, and that will probably cost in the order of USD 1 trillion, compared with what people were forecasting back in September, Director, Division on Globalization and Development Strategies at UNCTAD Richard Kozul-Wright said.
  • The UN agency said that apart from the tragic human consequences of the COVID-19 epidemic, the economic uncertainty it has sparked will likely cost the global economy USD 1 trillion in 2020.
  • A preliminary downside scenario sees a USD 2 trillion shortfall in global income with a USD 220 billion hit to developing countries (excluding China). The most badly affected economies in this scenario will be oil-exporting countries, but also other commodity exporters, which stand to lose more than one percentage point of growth, as well as those with strong trade linkages to the initially shocked economies.
  • Growth decelerations between 0.7 per cent and 0.9 per cent are likely to occur in countries such as Canada, Mexico and the Central American region, in the Americas; countries deeply inserted in the global value chains of East and South Asia, and countries in the immediacy of the European Union.
  • Trade impact of the coronavirus epidemic for India is estimated to be about USD 348 million and the country figures among the top 15 economies most affected as slowdown of manufacturing in China disrupts world trade.
  • Slowdown of manufacturing in China due to the coronavirus outbreak is disrupting world trade and could result in a USD 50 billion decrease in exports across global value chains.
PV Sindhu named BBC Indian Sportswoman of Year
  • Indian badminton player PV Sindhu won the inaugural BBC Indian Sportswoman of the Year award following a public vote.
  • The shortlist of five contenders also consisted of sprinter Dutee Chand, boxer Mary Kom, wrestler VineshPhogat and para-badminton player Manasi Joshi.
  • In 2019, Sindhu became the first Indian to win badminton World Championship gold in Basel, Switzerland.
  • She is considered a medal prospect at this year’s Olympics in Tokyo.
  • Sindhu has five World Championship medals and is the first Indian singles badminton player to win an Olympic silver medal.
  • The BBC award ceremony was held in New Delhi in the presence of eminent sportspersons, sports writers and influencers.
  • Former sprinter PT Usha was given the Lifetime Achievement award for her contribution to Indian sports and inspiring generations of players.
  • She won more than 100 international medals and awards during her career.
  • The Indian Olympics Association also named her Best Sportswoman of the Century.

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MARCH 12, 2020

World Health Organization declares Covid-19 as a pandemic
  • World Health Organization (WHO) has characterised the new coronavirus outbreak as a pandemic and a Public Health Emergency of International Concern (PHEIC).
  • UN chief Antonio Guterres has urged world governments to urgently scale up their response to the novel coronavirus if they are to stand a chance of stemming its spread.
  • UN Secretary General said, the declaration of coronavirus outbreak as a pandemic is a call to action for everyone, everywhere.
  • It’s the first time the WHO has called an outbreak a pandemic since the H1N1 “swine flu” in 2009. In the last pandemic, the H1N1 influenza virus killed more than 18,000 people in more than 214 countries and territories, according to the WHO.

FACTFILE – Coronavirus disease 2019 (COVID-19)

  • Coronavirus disease 2019 (COVID-19) is an infectious disease caused by the virus strain “severe acute respiratory syndrome coronavirus 2” (SARS-CoV-2).
  • The disease was first identified in 2019 in Wuhan, China, and has since spread globally, resulting in the 2019–20 coronavirus pandemic.
  • Common symptoms include fever, cough, and shortness of breath. As of 20 March 2020, the rate of deaths per number of diagnosed cases is 4.1%, but ranges from 0.2% to 15% depending on age and other health problems.
  • The infection is typically spread from one person to another via respiratory droplets produced during coughing and sneezing. Time from exposure to onset of symptoms is generally between 2 and 14 days, with an average of 5 days.
  • The standard method of diagnosis is by reverse transcription polymerase chain reaction (rRT-PCR) from a nasopharyngeal swab.
  • Recommended measures to prevent infection include frequent hand washing, maintaining distance from others (social distancing), and keeping hands away from the face. The use of masks is recommended for those who suspect they have the virus and their caregivers, but not the general public.
  • There is no vaccine or specific antiviral treatment for COVID-19. Management involves treatment of symptoms, supportive care, isolation, and experimental measures.
Govt has formed committee to finalise modalities of Kisan Rail
  • The government has formed a committee under the Ministry of Agriculture which also includes representatives of the Indian Railways to work out the modalities of ‘Kisan Rail’.
  • The committee has been formed under the aegis of Ministry of Agriculture and Farmers Welfare, which includes representative from Ministry of Railways also, to work out the modalities of ‘Kisan Rail’.
  • Nine such refrigerated vans were already available on its network.
  • These vans, with a carrying capacity of 17 tonnes each for transportation of highly-perishable parcel traffic, were developed and procured through the Rail Coach Factory at Kapurthala.
  • Temperature-controlled perishable cargo centres were commissioned at GhazipurGhat (UP), New Azadpur (Adarsh Nagar, Delhi) and Raja kaTalab (UP) as a pilot project under the Kisan Vision Project by Container Corporation of India Limited (CONCOR) through a CSR (Corporate Social Responsibility) initiative.
Himachal Pradesh signs pacts with World Bank to boost agriculture
  • The central government, the Himachal Pradesh government and the World Bank on Wednesday signed an $80 million loan agreement to improve water management practices and increase agricultural productivity in selected gram panchayats in the hill state.
  • The Integrated Project for Source Sustainability and Climate Resilient Rain-Fed Agriculture in Himachal Pradesh will be implemented in 428 gram panchayats in 10 districts, benefiting over 400,000 small-holder farmers, including women, and pastoral communities.
  • The loan agreement was signed by Khare on behalf of the government of India; Ram Subhag Singh, Additional Chief Secretary (Forest), on behalf of the Himachal Pradesh government and Junaid Ahmad, Country Director, India, on behalf of the World Bank.
  • The project will improve upstream water sources in forests, pastures, and grasslands and ensure sufficient water is available for sustainable agriculture both in Himachal Pradesh and in downstream states.

MARCH 13, 2020

Assam’s innovator Uddhab Bharali to be part of Delhi School curriculum
  • Padma Shri Awardee and internationally acclaimed innovator Uddhab Bharali will be involved in the new school curriculum in Delhi, in a bid to change the mindset of the students.
  • Uddhab Bharali, who hails from North Lakhimpur, has been inducted in the Entrepreneurship Mindset Curriculum (EMC) programme for students of Class 9 to 12, which has been devised to connect knowledge to life outside school.
  • Developed by the State Council of Educational Research and Training (SCERT), Delhi, the curriculum aims to build awareness and knowledge of various aspects of entrepreneurship among students. Over 1.5 lakh students from over 500 government schools in Delhi are part of the curriculum.
  • The curriculum tries to unleash the inner potential of the students, and aims to make them confident, creative and competent. The curriculum, which has no textbooks and is non-evaluative with no formal examination, aims to enable the students to become job-givers and not job-seekers, after completing their education.
  • The curriculum will give an opportunity to students to meet real-life entrepreneurs and understand their journey and struggles, and Bharali has been included among the icons in this new education system.
  • The objective of the interaction with Bharali is to inspire students with the journey of his entrepreneurship and learn about his dreams, opportunities, challenges and stories of overcoming the struggles.
  • Uddhab Bharali, who has 147 innovations, has been included along with E Sreedharan who built the Delhi Metro, street vendor-turned-entrepreneur Krishna Yadav who has a pickle business with around 2,000 employees, Flipkart founders Binny Bansal and Sachin Bansal, visually impaired Srikant Bolla who after repeated rejections by educational institutions in India joined the Massachusetts Institute of Technology (MIT) and went on to found a startup called Bollant Industries, that has an eco-friendly product line and employs over 150 disabled individuals, and Dharampal Gulati of MDH spices.
Parliament passes Insolvency and Bankruptcy Code (Amendment) Bill 2020
  • Insolvency and Bankruptcy Code (Amendment) Bill 2020 has been passed by the Parliament with Rajya Sabha giving its nod.
  • Finance Minister Nirmala Sitharaman said that the current government is both responsive and is committed to deliver to its promises in tune with changing times.
  • She said that the amendments brought in by the government are a mechanism to incorporate viable changes in the legislation.
  • She emphasized on the importance of the ordinance before the bill and said that it was needed to avoid any hiatus.
  • The Minister said, as on 1st January of this year, out of around 43 thousand cases disposed off by National Company Law Tribunal, nearly 15 thousand cases were resolved based on Insolvency and Bankruptcy Code.
‘BaLA’ initiave launched at Hailakandi District of Assam
  • With the vision to ensure the learning outcome and make every child learn with fun, Deputy Commissioner KeerthiJalli ceremonially launched Building as Learning Aid (BaLA) at Greham MV School.
  • Launching BaLA, Deputy Commissioner Jalli said that the concept behind it is to make every child learn with fun in a conducive environment, in which he or she can relate to quickly.
  • She said that a child gets easily attracted to the world of colours and pictures and creating this ambience by making use of the school space aesthetically is the driving force behind BaLA.
  • BaLA is a tool to promote learning, curiosity, care and concern, wonder and lifelong learning.
  • It will help children to practice and revisit concepts. It also helps learning to take place everywhere – in the classroom, the corridor, the verandas, the outdoors, etc.
  • Its impact can be directly observed on Student Learning Outcome (SLO), teacher instruction practices and student enrolment
Women SHGs undergo mushroom cultivation training at CSIR-NEIST
  • CSIR-North East Institute of Science and Technology (CSIR-NEIST) at Pulibor observed International Women’s Day by organising a training programme on mushroom cultivation to women of self-help groups of nearby villages.
  • Training on mushroom cultivation was given to 30 members belonging to different SHGs.
  • Certificates were awarded to the women SHG members during a valedictory session held after the training session. 

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MARCH 14, 2020

Centre sanctions Rs 365 crore for ICP at Sabroom, Tripura
  • The Centre has sanctioned Rs 365 crore for setting up an Integrated Check Post (ICP) at Sabroom in South Tripura to tap the potential for boosting bilateral trade with Bangladesh.
  • Union Home Minister Amit Shah cleared the proposal for setting up the ICP under a ‘single scheme’ following a request made by Tripura Chief Minister Biplab Kumar Deb.
  • During his last visit to Delhi, Deb met the Union Home Minister with a plea to set up an ICP at Sabroom, which could become a gateway to Southeast Asian nations for the North East.
  • Setting up of an ICP has become necessary as the bridge over the Feni river will connect the two sides of the international border. Once the bridge becomes operational, it will give easier access to the Chittagong Port in Bangladesh. This will increase trade manifold. Land Port Station (LCS) will be insufficient to handle bilateral trade once connectivity is established between Sabroom and Chittagong Port.
  • Earlier, the Union Ministry of Commerce had sanctioned a Special Economic Zone (SEZ) at Sabroom to boost trade and industry. The State, which shares 856-km border with Bangladesh, currently has one ICP at Akhaura, not far from the State capital.
Union Cabinet approved Yes Bank’s reconstruction plan
  • The Union Cabinet approved a reconstruction plan for cash-strapped Yes Bank, under which the State Bank of India will pick up 49 per cent of the equity, while private investors will be allowed to buy the rest.
  • The Cabinet decided that the SBI will hold at least 26 per cent stake in the private bank for a minimum period of three years.
  • Similarly, the other investors will also be mandated to have a similar lock-in period for 75 per cent of their investment in the bank.
  • The authorised share capital of the Yes Bank will be revised upwards from Rs 1,100 crore to Rs 6,200 crore.
  • The office of the administrator shall also stand vacated after seven days from the cessation of moratorium and the new Board will take over the bank.
  • Prashant Kumar, former SBI CFO, is the current administrator.
CCEA approved rehabilitation and upgradation of Green National Highways Corridor Project (GNHCP)
  • The Cabinet Committee on Economic Affairs CCEA approved rehabilitation and upgradation of 780 kms of roads under Green National Highways Corridor Project (GNHCP) in the states of Himachal Pradesh, Rajasthan, Uttar Pradesh and Andhra Pradesh.
  • The approval involves investment of Rs 7,662.47 crore which includes a loan component of Rs 3,500 crore ($500 million). The loan assistance of the World Bank will be under GNHCP.
  • Green Corridor projects are the ones where cement is used for road construction while there are other parameters of greening the highway with tree line on both sides and extensive use of plastic, fly ash, demolition waste and other reusable products.
  • Apart from upgradation of the two-lane, and four-lane highways, the project also includes the maintenance of these stretches for five years (in the case of flexible pavement) and 10 years (in the case of rigid pavement) after completion of construction.
  • The construction period for the project stretches will be 2 to 3 years.
Parliament passes Vivad Se Vishwas Bill for settlement of Direct Tax disputes
  • Parliament has passed the Vivad Se Vishwas Bill, 2020 the bill provides a waiver on interest, penalty and prosecution for settlement of Direct Tax disputes.
  • It grants a complete waiver on interest and penalty when the disputed amount is paid before 31st of this month, and provisions an additional 10 percent of the disputed amount in cases where the settlement is made by 30th June of this year.
  • Finance Minister, Nirmala Sitharam said, all steps will be taken by the government to reduce the tax litigation on a priority basis.
  • She assured that the discretion of tax authorities will be reduced by faceless assessment driven by technology.
  • Tax-related disputes in the country amounting to over 9 lakh crore rupees is pending against over 4 lakh litigations in various appellate forums.
  • Sitharaman assured that the provisions of this bill provide absolute immunity for prosecutions under the Income Tax Act to the appellant once the dispute is resolved. She, however, clarified that it only governs disputes related to Direct Tax and not litigations related to wealth tax.
IIM Shillong team wins Guwahati edition of Tata quiz
  • Akash Verma and Akshay Vinayak Desai from the Indian Institute of Management (IIM) Shillong emerged victorious in the Guwahati edition of Tata Crucible Campus Quiz 2020.
  • A total of 73 teams battled it out in the city-level finale for the top honours held.
  • The winners took home a cash prize of Rs 75,000 and they will compete in the zonal round to qualify for the national finale.
  • Prasant Bose and SubhraneelAcharjee from Assam Engineering College, Guwahati, were declared runners-up, winning a cash prize of Rs 35,000.
  • The theme for this year’s quiz was ‘Industry 4.0’. Noted quiz master Giri Balasubramaniam hosted the quiz.

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