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WEEKLY CA JUNE 2020: WEEK 1 [email protected] 011-49032737
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CONTENTS
NATIONAL ............................................................................................................................................................... 3
STATES..................................................................................................................................................................... 5
INTERNATIONAL ..................................................................................................................................................... 5
REPORTS & SCHEMES ............................................................................................................................................ 7
ECONOMY & BUSINESS ......................................................................................................................................... 9
FINANCE AND BANKING ...................................................................................................................................... 11
AWARDS & RECOGNITION .................................................................................................................................. 11
PERSON IN NEWS ................................................................................................................................................. 12
OBITUARIES .......................................................................................................................................................... 12
IMPORTANT DAYS ................................................................................................................................................ 12
SPORTS .................................................................................................................................................................. 12
WEEKLY CA JUNE 2020: WEEK 1 [email protected] 011-49032737
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NATIONAL
1. PM Modi launched “My Life My Yoga”, a video blogging contest. The contest is to be conducted as a
joint effort of Ministry of AYUSH and ICMR (Indian Council of Cultural Research).
2. The Supreme Court of India recently ordered to change a plea that requested to change India’s name
into Bharat into a representation. The petition that was submitted to the court seeks to amend Article
1 of the Constitution. The petition demands to struck-off ‘India’ from the Article.
Article 1 says “India, that is Bharat, shall be a Union of States”. India is already called Bharat according to the
Constitution.
3. On June 1, 2020, the Pradhan Mantri Bharatiya Janaushadhi Kendra achieved sales up to Rs 100.40
crores in the first two months of the financial year 2020-21.
4. NITI Aayog organized convention on agreological and natural farming approaches in the country.
The convention was attended by international experts, policy makers.
5. Recently, Bimal Julka Committee on Rationalization of Film Media operating under Ministry of
Information and Broadcasting submitted its report to the ministry.
The Committee recommended roadmaps for the development of National Film Development Corporation,
Children’s Film Society of India, Films division, Satyajit Ray Film and Television Institute, National Film Archives
of India, etc. The Committee recommended a Memorandum of Understanding to be signed between the Ministry
and these institutes streamlining the performances of the institutes.
6. The Department of Science and Technology along with the office of Principal Scientific Adviser to
will jointly formulate National Science Technology and Innovation Policy 2020. The policy is to be
formulated in bottom-up, decentralized process.
7. Ministry of AYUSH has recommended the Arsenicum album, a homeopathic drug. The drug has been
recommended for preventive use of COVID-19.
8. The Ministry of Power has launched the ‘#iCommit’ initiative on the occasion of World Environment
Day. The initiative was launched to encourage stakeholders to continue providing efficient renewable power
and resilient energy system in the future. The initiative is driven by the Energy Efficiency Services Limited
(EFFSL).
The initiative will promote current energy sector programs uch as:
• National Electric Mobility Mission
• FAME 1
• FAME 2
• Deen Dayal Upadhyaya Gram Jyothi Yojana
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• Saubhagya scheme
• Ujwal DISCOM Assurance Yojana (UDAY)
• Smart Metering Programme
• Pradhan Mantri Kisan Urja Suraksha evam Uttan Maha Abhiyan (PM-KUSUM)
• UJALA Unnat Jyoti by Affordable LED for All
• AJAY Atal Jyoti Yojana
9. the Union minister of Road Transport and Highways Shri Nitin Gadkari launched the United Nations
Development Programme campaign called “Prevention of Human and Animal Mortality on highways”.
India is witnessing 5 lakhs road accidents every year. Out of these 1.5 lakhs lose their lives. The campaign is
launched to bring down the accident rates.
10. The Government of India recently modified public procurement norms. Under the new norms
maximum preference is to be given to those goods and services that have 50% or more local content.
This has been done to promote “Make in India”.
The GoI recently issued the Public Procurement (Preference to Make in India), Order 2017. The new order has
introduced Class-I, Class-II and non-local suppliers. The goods and services are to get preferences based on
their classes.
Class I: The goods and service company that have domestic value addition of 50% and more have been
classified under Class I. These goods and services will get the most preference in all government purchases.
Class II: The goods and service company whose value addition range is between 20% and 50% come under
Class II supplier.
Non-local suppliers: The goods and service company that has less than 20% of domestic content in the
products are classified as non-local suppliers. These companies cannot participate in most of the government
tenders.
11. The Government of India has constituted Jaya Jaitly Task Force to work on the issues of women and
child development. The task force was constituted by the Ministry of Women and Child Development.
The team will work on the following:
• Lowering Maternal Mortality Rate.
• Improve Nutritional Levels.
• Examine issues that are related age of motherhood.
Apart from the above three major tasks, the force will also work on issues related to Infant Mortality Rate,
Total Fertility Rate, Maternal Mortality Rate, Child Sex Ratio Rate, Sex Ratio at Birth and other issues
related to health and nutrition. The team will also suggest measures to promote higher education of women.
12. The Defense Research Development Organization (DRDO) has developed a disinfection unit called
Ultra Swachh. The unit is used to disinfect articles such as electronic items, Personal Protective
Equipment, fabrics, etc.
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13. The Defense Research Development Organization (DRDO) has developed the SUMERU PACS, that
helps to reduce sweating of Personal Protective Equipment wearers.
14. An engineer from Thane has developed first of its kind internet-controlled robot named CoroBot.
The robot addresses the needs of the hospitals treating COVID-19 patients. It can independently dispense
food, beverages, water, medicines.
STATES
15. The Kerala Government will complete K-FON (Kerala Fibre Optic Network) project to be implemented
by December 2020. Under the K-FON project the Kerala Government aims to link all the houses and offices in
the state with optical fibre network.
16. The State of Telangana was formed on June 2, 2014. To commemorate the formation of the state,
every year Telangana Statehood Day is celebrated on June 2.
17. The National Jal Jeevan Mission approved the Annual Action Plan of Arunachal Pradesh. Under
the plan, the state is to provide tap connection to all the rural households in the state by 2023.
18. The Jharkhand Government has approved the Border Road Organization to recruit 11,800 workers
from the state to implement critical projects including those in the China border. Jharkhand state will also
sign Memorandum of Understanding with the BRO to ensure welfare of the workers being recruited.
19. The Chhattisgarh Government recently launched Spandan Campaign. The campaign aimed to
contain fratricide and suicide involving police personnel.
20. The Uttarakhand Governor Baby Rani Maurya agreed to declare Gairsain as new summer capital.
The Gairsain is also called Bhararisen.
INTERNATIONAL
21. The United States of America is facing nationwide protests over the death of an African American
George Floyd. George Floyd, an African American man of age 46 died after the police arrested him near a shop
in Minneapolis, Minnesota. This has created the current unrest in the country.
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22. The Costa Rica and World Health Organization have launched C-TAP: COVID-19 Technology Access
Pool. The C-TAP will act as a one-stop shop for information, scientific knowledge and intellectual property for
global community. It is an initiative that aims to make vaccines, tests, health technologies and treatments.
23. The USA has postponed the G7 summit to September 2020. President Trump intends to expand the
G7 group to G10 or G11.
24. The World Health Organization resumed its clinical trials Hydroxychloroquine (HCQ) drug for testing
its effectiveness in treating COVID-19.
The clinical trial on Malaria Drug HCQ was earlier put on hold by the World Health Organization raising concerns
of its efficacy.
25. The World Economic Forum has announced that it is to host its next summit in Davos under the
theme “The Great Reset”. The forum has named the summit as “A Unique Twin Summit”.
26. PM Modi has participated at the Global Vaccine Summit that was led by the United Kingdom. At the
summit, the prime minster announced that India will pledge 15 million USD to GAVI Alliance.
27. The G20 countries pledged over 21 billion USD to fight against COVID-19. The countries have so far
injected 5 trillion USD in March 2020 to help fight global economic crisis.
28. India is expected to be elected as member of United Nations Security Council for an eighth term.
In order to secure the elected seat, India has launched a brochure that lists the priorities of India at the UNSC.
29. A group of eight democracies have launched Inter-Parliamentary Alliance on China. The Alliance
was formed by Japan, United Kingdom, Australia, Germany, Lithuania, Norway, Netherlands and USA. The
European Union was also present when the representatives from these countries discussed about issues related
to China.
30. The Indian Naval Ship Kesari reached Port Victoria in Seychelles to provide COVID-19 related
medicines under Mission Sagar. The Mission Sagar was launched by the Indian Navy to provide COVID-19
related essential medicines.
31. Russia declared state of emergency after oil spilled into Ambarnaya river. The surface of the river
turned crimson red. The Ambarnaya river slows into environmentally sensitive Arctic Ocean.
32. The Union Cabinet chaired by PM Modi approved the Memorandum of Understanding signed
between India and Bhutan to improve cooperation in the field of environment.
33. Indian PM Modi and the Australian PM Scott Morrison held India’s first virtual bilateral summit.
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India and Australia signed the following agreements:
• Framework Arrangement on Cyber Enabled critical Technology
• MoU on cooperation in processing of Critical and Strategic minerals
• Implementing arrangement related to cooperation in Defence
• MoU on cooperation of training and vocational education
• MoU on understanding water resource management
• MoU un the field of Governance Reforms and Public Administration
• MoU on cooperation in mining and processing of strategic minerals.
REPORTS & SCHEMES
34. The Union Minister of Consumer Affairs and Food and Public distribution Shri Ram Vilas Paswan
announced that three more states namely Sikkim, Odisha and Mizoram are being included in the
Integrated Management of Public Distribution System (PDS).
35. Prime Minister Narendra Modi has launched technology platform called CHAMPIONS. CHAMPIONS
Stand for Creation and Harmonious Application of Modern Processes for Increasing the Output and
National Strength.
The portal aims to make smaller units big by supporting them, encouraging, solving their grievances, helping
and handholding. It will act as one-stop shop solution of all entities of the MSME sector. The complete platform
was created by National Informatics Centre.
36. Government of India launched the Pradhan Mantri SVANidhi Scheme for street vendors. The PM
SVANidhi or PM Street Vendors Atmanirbhar Nidhi is a credit facility scheme that will help more than
50 lakh urban and rural street vendors.
The scheme will help the street vendors restart their livelihoods. Under the scheme, Rs 10,000 of credit is to be
provided to street vendors. The street vendors shall return the amount as monthly installments within a year.
37. The Government of India launched Kisan Credit Card campaign to help dairy farmers. The Kisan
Credit cards are to be provided to around 1.5 crore dairy farmers.
38.The Union Minister Ravi Shankar Prasad has launched 3 new schemes to boost electronics sector.
They are Production linked incentive scheme, cluster scheme (EMC 2.0) and component manufacturing
scheme (SPECS).
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The schemes are expected to attract investments. They will increase the manufacturing of mobile phones and
their parts to around Rs 10 lakh crores by 2025. Also, the scheme will help generate 5 lakhs direct and 15 lakhs
of indirect jobs.
• Production Linked Incentive Scheme: The scheme will provide an incentive of 4% to 6% to the goods
manufactured in India.
• SPECS: The Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS)
will provide incentive of 25% on the capital expenditure. This is extended to certain identified lists such as
semiconductor devices, electronic goods, display fabrication units, etc.
• EMC 2.0: The Modified Electronics Manufacturing Clusters (EMC 2.0) will support in creating world class
infrastructure. The scheme will help in attracting global electronics manufacturers and their supply chains.
39. The Ministry of Housing and Urban Development and the Ministry of HRD (Human Resource
Development) launched an internship learning programme called “TULIP”.
The programme has been launched for fresh engineering graduates to give them opportunities to work with
4,400 urban local bodies and 100 smart cities in India. The internship will be held for one year. The areas of
interests included in the programme are financing, urban planning, environmental planning, sanitation
and infrastructure, environmental engineering.
40. The Government of India announced that no new schemes will be approved till March 31, 2021. Till
then, the schemes under Pradhan Mantri Garib Kalyan Yojana and Atma Nirbhar Bharat Abhiyan are to
be implemented.
41. The Council of Scientific and Industrial Research (CSIR) and Atal Innovation Mission came together
to promote culture of innovation and entrepreneurship in areas of mutual interest.
The CSIR incubators will work under Atal Innovative Mission to support world class start ups in this new project.
They will work together to bring up new models of innovation and set up CSIR innovation parks.
42. On June 5, 2020, the Environment Minister Prakash Javadekar launched the “Nagar Van” scheme on
the occasion of Environment Day. The scheme emphasizes on urban forestry. Under the scheme, around 200
urban forests are to be developed all over the country in next five years.
42. The Centre for Science and Environment (CSE) has released the State of India’s Environment, 2020
report. The CSE also publishes the environment magazine called Down to Earth.
According to the report, more than 50 lakh internal displacements have occurred in India in 2019. This is
the highest in the world according to the report. One on five internal displacements caused by disasters in the
world were in India.
43. The Yale University recently released the biennial Environment Performance Index (EPI) 2020.
India scored 168th rank out of 180 countries. All the South Asian countries were ahead of India except
Afghanistan. India’s rank in terms of Sustainable Development Goals was also low.
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Around 32 indicators were considered to create the ranking. The index provided 10-year observation on
environmental performance at national and international level.
COUNTRY RANK EPI SCORE
Denmark 1 82.5
Luxembourg 2 82.3
Switzerland 3 81.5
Afghanistan 178 25.5
Myanmar 179 25.1
Liberia 180 22.6
44. The World Bank recently launched the Global Economic Prospects Report, 2020. The report
highlighted the impact of COVID-19 on countries.
• The report says that the Emerging Market and the Developing Economies are highly vulnerable.
• They face health crisis, external shocks, restrictions, tourism, falling trade, capital outflows and
commodity prices.
• These countries according to the report are expected to have 3% to 8% output loss.
• Around 60 million people may be pushed to extreme poverty due to COVID-19 this year.
• The financial crisis due to recession will reduce the potential output by almost 8%.
ECONOMY & BUSINESS
45. The Union Cabinet approved hike of Minimum Support Price of 14 Kharif crops.
• The Minimum Support Price of Paddy has been increased by Rs 53 per quintal. The MSP of paddy has
been fixed at Rs 1,868 per quintal for the year 2020-21.
• The MSP of cotton has been increased from Rs 5,255 per quintal to Rs 5,515 per quintal.
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The Cabinet approved the hike in prices of MSP based on the recommendation of Commission for Agricultural
Costs and Prices.
46. On June 1, 2020, the Union Cabinet approved the changes made to the definition of MSMEs.
According to the new definition:
• MSMEs with investment till Rs 1 crore and turn over of Rs 5 crores have been classified as Micro units.
• The MSMEs with investment of Rs 10 crore and turn over of Rs 50 crores are classified as small units.
• The MSMEs with investment Rs 50 crore and turn over upto Rs 250 crores have been classified as
medium units
47. Indian Energy Exchange has launched Real Time Electricity Market (RTM). The main aim of the
launch is to help discoms plan their power requirements.
The market will conduct 48 auction sessions during the day and the power will be delivered within one hour
of closure of the bid session. The market, thus, will help distribution companies manage their power demand-
supply variation. It will also help meet power supply needs in a better way.
48. The Union Cabinet chaired by PM Modi has made historic amendments to Essential Commodities
Act. Under the amendment, the regulatory environment has been liberalized for farmers. It will allow
farmers to engage with aggregators, processors, exporters and large retailers as well. Under the amendment to
Essential Commodities Act, 1955, the agricultural commodities such as pulses, cereals, onions oil seeds and
potatoes have been deregulated.
49. The Union Minister of Rural Development Shri Narendra Singh Tomar chaired the 21st meeting of the
Central Employment Guarantee Council (CEGC). During the meet, it was highlighted that the GoI has
created assets for irrigation and water conservation.
The Council monitors and Evaluates MGNREGA. It also advises the GoI about the implementation of the scheme.
The council also prepares annual reports about the implementation of the act. The act makes the council meet
compulsory at least twice a year. The CEGC is headed by the Rural Development Minister. It is made of both
official and non-official members.
50. The Government of India is to conduct SWADES initiative to map the skills of Indians returning
from abroad. SWADES is Skilled Workers Arrival Database for Employment Support.
The initiative is to be conducted by Ministries of Civil Aviation, External Affairs, Skill Development and
Entrepreneurship.
51. The Department of Promotion for Industry and Internal Trade (DPIIT) has identified 10 sectors
where in the imports are to be cut. This includes textiles, jewelry, mobile, gems, pharmaceuticals,
garments, electronics, machinery, etc.
52. Recently, the National Statistical Office launched the Annual Report of Periodic Labour Force.
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According to the survey:
• The worker population ratio increased to 35.3% as compared to 34.7% in 2017-18.
• The unemployment rate fell to 5.8% in the period July 2018 to June 2019 as compared to 6.1% in the
same period 2017-18.
• The Labour Force participation rate increased to 37.5% as compared to 36.9% in 2017-18.
• The worker population went up to 35.3% as compared to 34.7% in the year 2017-18.
• In Urban India, the unemployment rate fell to 7.7% in 2018-19 from 7.8% earlier.
• The female participation rate improved in both rural and urban India from 17.5% to 18.6%.
52. The Union Cabinet chaired by PM Modi approved to set up “Empowered Group of Secretaries”. The
group will also have Project Development Cells to attract investments in India.
The Empowered Group will provide investment support to global investors. It will also ensure timely clearances
from the Government side in different departments and ministries. The group consists of members from NITI
Aayog, revenue department secretary, secretary of economic affairs, etc. The Project Development Cell is also a
part of the group.
FINANCE AND BANKING
53. The Reserve Bank of India recently announced that the Government of India has discontinued 7.75%
savings bonds. The 7.75% savings bonds that are also called government bonds or RBI bonds were
issued in 2018.
The rates of Small Savings scheme were cut. Also, the rates of PPF were cut from 7.9% to 7.1%. On the Sukanya
Samriddhi Yojana, the rates were cut from 8.4% to 7.6%.
54. The Reserve Bank of India created Payment Infrastructure Development Fund of Rs 500 crores.
The apex bank has made an initial contribution of Rs 250 crores towards the funds. The rest of the fund is to
come through the card issuing banks.
• The fund has been created to increase point of sale infrastructure and other digital payment
infrastructure in the country.
• The funds are to be governed through an advisory council. However, the funds will be administered and
managed by RBI.
AWARDS & RECOGNITION
55. Kiran Mazumdar Shaw was named the EY World Entrepreneur of the year 2020.
56. Javed Akhtar has become the first Indian to receive the Richard Dawkins award. The award is
presented by the Atheist Alliance of America (an NGO).
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PERSON IN NEWS
57. The Private secretary of Prime Minister Modi Rajeev Topno was recently appointed as the Senior
Advisor to the Executive Director of World Bank.
OBITUARIES
58. Renowned lyricist Anwar Sagar has died in Mumbai.
59. Legendary Filmmaker Basu Chatterjee has died in Mumbai.
60. Bollywood music composer and Singer Wajid Khan has died in Mumbai.
IMPORTANT DAYS
61. World Milk Day is celebrated on June 1 by the Food and Agriculture Organization of the United
Nations. The day is celebrated to bring awareness and attention to the activities associated with the diary
sector. June 1 was chosen to be celebrated as World Milk Day by the FAO in 2001. This year, the World Milk Day
is celebrated under the Theme: The 20th Anniversary of World Milk Day.
62. International Sex Workers Day is observed on June 2. The day is being marked to spread awareness
on rights of sex workers so that they can lead a life of respect.
63. World Bicycle Day is celebrated on June 3. The day is celebrated by the United Nations to lay
emphasis about the benefits of cycling. The World Bicycle Day is being celebrated since 2018.
64. World Environment Day is celebrated on June 5. This year the day is being celebrated under the
Theme: Time for Nature. This year, in 2020, the day is to be hosted in Colombia in partnership with
Germany.
65. June 7 is celebrated as the World Food Safety Day. On June 7, 2020 is the second World Food Safety
Day was celebrated.
The World Food Safety Day was launched by the United Nations in 2019. The day is celebrated to reinforce the
call made by the Geneva Conference and Addis Ababa Conference in 2019 on “The Future of Food Safety”.
This year the day is celebrated under the Theme: Food Safety, Everyone’s Busines.
SPORTS
66. The Hockey India recommended India Women Team Captain Rani Rampal for the Rajiv Gandhi Khel
Ratna Awards. Monika, Vandana Kataria and Harmanpreet Singh were recommended for Arjuna Awards.
67. The BCCI nominated Rohit Sharma for the Rajiv Gandhi Khel Ratna Awards. The Award is
considered to be the highest sporting honour award in India.
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68. The Asian Football Confederation confirmed that India will host 2022 Women’s Asian Cup. This is
the first time India is hosting the cup since 1979.
69. The Minister of Youth Affairs and Sports Kiren Rijju inaugurated the India Community Coach
Development Programme. The India Community Coach Development Programme is a 25-day long
programme for community coaches and PE teachers all over the country.
