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June Spotlight 2020


🗓️ June 2020

NATIONAL NEWS

1. Uttar Pradesh has signed memoranda of understanding (MoU) with FICCI, Indian Industries Association (IIA), and National Real Estate Development Council (NAREDCO) for providing 11 lakh jobs to migrant laborers who have returned to the state. 2. In a virtual high-level round-table on ‘Agroecology and Regenerative Agriculture’, NITI Aayog vice-chairman Rajiv Kumar opined that India can have access to carbon credits worth $50-60 billion if it promotes natural farming and agroecology.
  • India has an opportunity to access green bonds market worth $1 trillion by promoting natural farming and agroecology.
  • India aims to reach 20 lakh hectares in any form of organic farming, including natural farming, of which 12 lakh hectares are under the Bharatiya Prakritik Krishi Paddhati Programme (BPKP).
3. Prime Minister Narendra Modi has launched an international video blogging competition named ‘My Life, My Yoga’ contest (also called ‘Jeevan Yoga’).
  • The contest is a joint effort by the Ministry of AYUSH and the Indian Council for Cultural Relations (ICCR).
  • Purpose: to raise awareness about Yoga and to inspire people to become active participants in the sixth International Day of Yoga (IDY) on June 21.
  • The competition will have three categories covering youth (aged under 18), adults (above 18 years), and yoga professionals, separately for male and female contestants. It will be run in two phases.
4. Odisha, Mizoram, and Sikkim have joined the One Nation One Card Scheme.
  • The scheme, launched in March 2019, aims to enable the ration cardholders to obtain their subsidized food grains from any PDS shop of their choice anywhere in the country.
  • All states will be added to One Nation, One Ration Card scheme by 31st March 2021.
5. Ministry of Housing and Urban Affairs has launched PM Svanidhi (Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi scheme) to provide working capital loans of up to ₹10,000 to more than 50 lakh street vendors, who had their businesses operational on or before 24 March. 6. Union Cabinet has approved three changes– a new definition of MSME, a Rs 20,000-crore fund to provide equity support to stressed MSMEs, and equity infusion of Rs 50,000 crore into MSMEs through a fund of funds.
  • As per the new definition, a company with up to Rs 50 crore investments and up to Rs 250 crore turnover is classified as a medium enterprise. It is higher than the one announced by FM Nirmala Sitharaman.
  • As per the new definition, units with Rs 1 crore investments and turnover of up to Rs 5 crore will be classified as micro-units while businesses with an investment of up to Rs 10 crore and turnover of up to Rs 50 crore will be classified as small.
7. Indian Energy Exchange has launched the Real-Time Electricity Market (RTM) on its platform w.e.f., 01 June 2020.
  • IEX is approved and regulated by the Central Electricity Regulatory Commission (CERC).
8. The government has increased the minimum support price (MSP) of 14 different Kharif crops by 50-83% for the 2020-21 crop year, to increase farmers’ profit by 50% or more on their yield.

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