Current Affairs for SSC CGL Exams - 11 JULY 2020
::NATIONAL::
PM hails role of solar energy in Atmanirbharbharat scheme
- Prime Minister NarendraModi on Friday said solar energy would play a major role in achieving self-reliance in energy, essential for an ‘Atmanirbhar Bharat’ (self-reliant India).
- The Rewa solar project, being touted as Asia’s largest, is the first such project in the country to break the grid parity barrier. While the Delhi Metro will use 24% of the electricity produced from it, Madhya Pradesh will use the rest. “The project, along with others, will make Madhya Pradesh a hub of cheap and clean energy,” said Mr.Modi.
- The government’s priority was that electricity reached everyone and the environment remained pure. “This is reflected in our policies relating to solar energy. In 2014, the price of solar power was ₹7-8 per unit. Today, it is ₹2.15-2.30 per unit. Not just in the country, all over the world it’s being talked about how solar power is so cheap in India,” he observed.
VP calls for environment friendly design and architecture in the country
- Vice President M. Venkaiah Naidu has called for adoption of environment friendly architecture and designs in the country, to address future health threats. He was addressing the inaugural ceremony of the National Conference of Indian Institute of Architects virtually today.
- Mr. Naidu urged architects and designers to answer the challenges posed by the pandemic through modification in their designs. He said, the design and architecture fraternity need to regroup and look for solutions to the problems created by the current crisis, while envisioning ways to tackle future threats.
- He asserted that the aim of modern structures should not only be to provide shelter and security but also to provide comfort and safety. Mr. Naidu called for novel thoughts and ideas for building environment-friendly structures which can be sustained on renewable energy sources.
::ECONOMY::
Pace of contraction of factory output slows down in May
- The pace of contraction of India’s factory output slowed in May, falling 34.7% on year from 57.6% contraction in April, calculations based on data released by the government on Friday showed.
- The government did not provide a number for the change in output from May 2020 but said the number of units responding has improved as compared to the earlier months of lockdown. The Ministry of Statistics & Programme Implementation also revised the contraction in April from 55.5% earlier.
- MoSPI said in a statement that this has had an impact on the items being produced by the establishments during the period of lockdown and the subsequent periods of conditional relaxations in restrictions.
- “Quite clearly the lockdown and limited opening up affected production of all industries. Different state rules on transport and labour further exacerbated the situation.
- RBI governor expects economy to return to normalcy after ease of lockdown
- The economic impact of the coronavirus pandemic may lead to higher non-performing assets and capital erosion of banks while the redemption pressure on non-banking finance companies (NBFCs) and mutual funds are emerging as crucial stress points in the financial system, Reserve Bank of India Governor Shaktikanta Das said.
- Flagging off these risks, the governor said that RBI’s policy action would depend on how the crisis unfolds even as he observed that the medium-term outlook still remains uncertain and depends on the COVID-19 curve.
- The regulator has advised all financial intermediaries to assess the impact of COVID-19 on their balance sheet, asset quality, liquidity, profitability and capital adequacy for the financial year 2020-21 and to work out possible mitigating measures. “The idea is to ensure continued credit supply to different sectors of the economy and maintain financial stability,” Das said.
::INTERNATIONAL::
India- Bangladesh to expand trade and business partnerships
- India is adopting a multi-pronged strategy to enhance trade and business partnership with Bangladesh amid Beijing's recent efforts to woo Dhaka with duty-free access to its products.
- While Chinese trade concessions can push Bangladesh into a “dual deficit and debt trap”, India is activating various connectivity initiatives for seamless movement of Bangladeshi products to the landlocked northeastern states and other parts of India.
- India had offered duty-free access to several Bangladeshi products a decade before the Chinese decision and that step helped reduce deficit in Dhaka’s trade with New Delhi, said a source while stating that India’s terms and conditions from trade concessions to loans are more favourable. Beijing has mulled over years before giving trade concessions to Dhaka and the step can push it towards a debt trap, said the above mentioned source.
- According to experts, India has a diametrically opposite approach. It has extended three Lines of Credits (LOC) to Bangladesh in the last eight years amounting to $8 billion for the development of infrastructure in various sectors including roads, railways, shipping and ports.
- Bangladesh is the biggest recipient of India’s concessional LOC. India has also been providing grant assistance to Bangladesh for various infrastructure projects including the construction of Akhaura-Agartala rail link, dredging of inland waterways and construction of India-Bangladesh Friendship Pipeline.
::SCIENCE & TECHNOLOGY::
Indian tiger census sets new Guinness world record
- The fourth cycle of the All India Tiger Estimation 2018 has entered the Guinness World Record for being the world’s largest camera trap wildlife survey. Terming this achievement as a great moment, Environment Minister PrakashJavadekar said in a tweet that this is a shining example of Atmanirbhar Bharat which was attained through sankalp se siddhi.
- The country now has an estimated 2967 tigers as per the latest census. With this number, India is home to nearly 75 percent of the global tiger population and has already fulfilled its resolve of doubling tiger numbers, made at St. Petersburg in 2010, well ahead of the target year of 2022.
- The citation at the Guinness World Record website says the fourth iteration of the survey - conducted in 2018-19 - was the most comprehensive to date, in terms of both resource and data amassed.
- Camera traps were placed in 26,838 locations across 141 different sites and surveyed an effective area of 1 lakh 21 thousand 337 square kilometres. From the photographs, 2,461 individual tigers were identified using stripe-pattern-recognition software.
- The All India Tiger Estimation done quadrennially is steered by the National Tiger Conservation Authority with technical backstopping from the Wildlife Institute of India and implemented by State Forest Departments and partners.
- The latest results of 2018 had shown that India now has an estimated 2967 tigers out of which 2461 individual tigers have been photo captured.
::SPORTS::
Wimbledon adopts new ranking formulae
- In a significant decision, Wimbledon has done away with its seeding formula for men, used to re-order the top 32 seeds in the main draw by giving extra weight to grass-court performances during a two-year period leading up to the tournament.
- The most recent example of the seeding formula’s use came last year when Roger Federer, then ranked No. 3 in the world, was elevated as the second seed in place of Rafael Nadal, the World No. 2.
