Current Affairs for SSC CGL Exams - 08 APRIL 2020

::NATIONAL::

VP assures smooth functioning of supply chains for vulnerable sections

Vice President M Venkaiah Naidu said that concern about the health of the people shall take precedence over stabilization of economy.
In his assessment of the completion of two weeks of lock down today and the way forward, Mr. Naidu said, the next week will be critical for deciding the exit from the present nation-wide restrictions. He said, the data regarding the extent and rate of spread of virus infection will have a bearing on exit strategy.
Referring to the consultations between the Prime Minister and Chief Ministers on the exit strategy, Mr. Naidu urged the people to abide by the decisions and co-operate with the same spirit that has so far been demonstrated even if hardship were to continue after 14th April. He said that government will ensure smooth functioning of supply chains and adequate relief and support for the vulnerable sections.
Recalling the overwhelming response of the people to the various appeals of the Prime Minister, Mr. Naidu said, it is an indication of the virtue of spirituality that forms the core of Indian ethos. He said, people of the country have demonstrated this core value in abundance.

Home ministry files report on migrant workers

A status report filed by the Ministry of Home Affairs (MHA) in the Supreme Court on Tuesday shows that Kerala government operates over 65% of the total number of active shelters and relief camps for stranded migrant workers run by various States governments in the wake of COVID-19 pandemic.
Maharashtra government comes a distant second with 1135 camps, though NGOs in this State run 3397 camps. Tamil Nadu government operates 178 active relief camps and shelters for migrant workers. Two in the State are run by NGOs.
While the number of relief camps run by other State governments for migrant workers is in two and three digits, there are 15541 such camps and shelters in Kerala, all of them run by the State government.
The total number of active relief camps and shelters for migrant workers run by various State governments and NGOs are 22567 and 3909, respectively.

::ECONOMY::.

ICRA predicts economic contraction of 4.5% in Q4

The Indian economy is likely to witness a sharp contraction of 4.5% during Q4FY20 and is expected to recover gradually to post a GDP growth of just 2% in FY21, rating agency ICRA said.
ICRA said it reduced the growth forecast due to the nationwide lockdown imposed in the backdrop of the COVID-19 pandemic.Sectors that will be impacted the most are aviation, hotels, restaurants and tourism, auto dealerships, ceramic tiles, gems and jewellery, retail, shipping, ports and port services, seafood and poultry and microfinance institutions.
The impact on sectors such as automobiles, auto components, building materials, construction, chemicals, residential real estate, consumer goods, pharmaceuticals, logistics, banking, mining, paper, consulting, ferrous metals, footwear, glass, plastics, power and trading are going to be moderate.
“The low impact sectors will be education, dairy products, fertilisers and seeds, FMCG, healthcare, food and food products, insurance, telecom, utilities, sugar, tea, coffee and agricultural produce,” ICRA said.The rating agency said extended demand disruptions are likely to lead to elongated payment cycles.
“Since an entity’s liquidity position is of paramount importance to support its credit profile, it is expected that several entities would seek to conserve cash, either by invoking force majeure clauses to revoke payments or by deferring payments to the extent possible,” it said, adding this could result in many entities facing working capital blockage as their receivables get stretched and inventory not reducing simultaneously.

SIDBI announces emergency package for MSME’s

The Small Industries Development Bank of India - SIDBI has said that it will provide emergency working capital of up to one crore rupees to small and medium enterprises(MSMEs) against their confirmed government orders.
In a press release, SIDBI informed that the loans will be offered at an interest rate of five per cent. Meanwhile, the bank further informed that the limit of SAFE loans, announced a few days back has been enhanced from 50 lakh rupees to two crore rupees.

Click Here for Study Material for SSC CGL Exam

SSC CGL (Tier-1) Exam Crash Course

::INTERNATIONAL::

South Korea tightens border controls to slow down infection

South Korea is planning to take further steps to tighten border controls to slow Corona virus infections imported from abroad as outbreaks worsen in Europe and the United States.
South Korean Prime Minister Chung Sye-kyun said during an anti-virus meeting today that Seoul will suspend visa-free entries and visa waivers with countries imposing entry bans on South Korean nationals and employ further restrictions to repel foreigners traveling on unnecessary and non-urgent purposes.
South Korea has been enforcing two-week quarantines on all passengers arriving from abroad since 1st of April. South Korea's Centres for Disease Control and Prevention today reported 53 new cases of the Corona virus and eight more deaths, bringing national totals to 10,384 infections and 200 fatalities.

::SCIENCE & TECHNOLOGY::

Tribal affairs ministry commissions study of community forest rights

The Ministry of Tribal Affairs recently commissioned a study about Community Forest resource Rights. According to the study, broad guidelines are needed to implement Community Forest Rights.
The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) act, 2006, also called the FRA act defines the Community Forest resource Rights. The FRA also says that a village shall get its traditionally held forest land. It provides the Gram Sabhas the right to protect, conserve and regenerate.
Apart from FRA act, 2006, the 73rd amendment of the constitution also empowers the Gram Sabhas to govern community forests.However, there are no guidelines to implement Community Forest Rights. The State Governments should create guidelines according the locals and their traditions.
It should also focus on capacity building of Gram Sabha members. Micro-plans should be prepared so that the Gram Sabhas shall facilitate sustainable forest management.

::SPORTS::

World Athletics suspends Olympics qualification time period

World Athletics on Tuesday suspended the qualification period for the Tokyo Olympics until December 2020. “Qualification for the Tokyo 2020 Olympic Games is suspended effective from 6 April 2020 until 30 November 2020 included,” World Athletics said in a statement.
“Subject to the global situation returning to normal, the qualification period will resume on 1 December 2020 and continue to the new qualification deadline in 2021 set by the International Olympic Committee.”