NATIONAL UPDATES:
1.
SVAMITVA Scheme: PM Modi launches physical distribution of Property Cards: Prime Minister
Narendra Modi has launched the programme of physical distribution of Property
Cards under the SVAMITVA scheme through video conferencing. The Survey of
Villages and Mapping with Improvised Technology in Village Areas (SVAMITVA) is
a Central Sector Scheme, which was launched in April 2020 to provide the
‘record of rights to document the residential properties’ to village household
owners in rural areas and issue Property Cards. Benefits:
(1) ‘SVAMITVA Scheme’ will help in
strengthening the Panchayati Raj system for which efforts are underway for the
past 6 years.
(2) The scheme will allow the villagers to
use the property as a financial asset for taking loans and other economic and
financial benefits.
(3) The scheme is being implemented in a
phased manner over a period of four years (2020-2024) and would eventually
cover around 6.62 lakh villages of the country.
(4) In Phase-I people from 763 villages of
6 states, Uttar Pradesh, Haryana, Maharashtra, Madhya Pradesh, Uttarakhand and
Karnataka will be the beneficiary of the ‘SVAMITVA’scheme.
(5) About one lakh property owners will be
able to download property cards from the link received through SMS on their
mobile phones. The respective state governments will distribute physical cards.
2.
Andhra Pradesh CM launches “Jagananna Vidya Kanuka” scheme: Andhra Pradesh
Chief Minister, YS Jagan Mohan Reddy has launched a new scheme named the
‘Jagananna Vidya Kanuka’ scheme to distribute school kits among the poor
children of the state. The state shall spend around Rs 650 crore towards the
scheme. 42,34,322 kits will be distributed across the state under the scheme.
Under this scheme, the government school students from classes 1 to 10 across
the state will set the school kits or Vidya Kanuka, which will contain three
pairs of uniform, one pair of shoes, two pairs of socks, a belt, one set of textbooks
and notebooks and one school bag.
Note: Chief Minister of Andhra Pradesh: YS
Jagan Mohan Reddy; Governor: Biswa Bhusan Harichandan.
3. FM
Nirmala Sitharaman announced LTC cash voucher scheme: Finance Minister
Nirmala Sitharaman has announced leave travel concession (LTC) cash voucher
scheme and special festival advance scheme for government employees with an aim
to increase consumer spending. She announced proposals regarding consumer
spending and capital expenditure. Under consumer spending, she announced
proposals within two components: LTC cash voucher scheme and special festival
advance scheme. About the leave travel concession (LTC) cash voucher scheme:
(1) Central government employees get leave
travel concession in a block of four years–one each to a destination of choice
and home town or two for home town.
(2) Under this, the air or rail fare is
reimbursed as per pay scale/entitlement. Also, leave encashment of ten days
(pay + dearness allowance) is paid.
(3) However, employees will not be able to
avail the LTC in the 2018-21 year block due to the ongoing Covid-19 pandemic.
This is where the LTC will benefit government employees.
(4) In lieu of one LTC during 2018-21,
employees will receive a cash payment. There will be full payment on leave encashment
and fare will be paid as per three slabs depending upon the class of
entitlement. Further, there will be no tax on fare payment.
(5) An employee opting for this scheme will
have to buy goods and services worth three times the fare and one time leave
encashment, and do so before March 31, 2021.
(6) The money is to be spent on goods
attracting GST of 12% or more and only digital payments will be allowed. Also,
employees will have to provide a GST invoice.
(7) The finance minister said the scheme
would cost Rs 5,675 crore if central government employees opt for it. However,
for PSB and PSU employees, its cost would be Rs 1,900 crore.
(8) Sitharaman further projected that with
even 50% states opting for this scheme, the government expects to infuse Rs 9,000
crore into the economy.
4. PM
Modi launches Jan Andolan campaign on COVID-19 Appropriate Behaviour; Urges
people to wear mask, wash hands & follow social distancing: Prime Minister
Narendra Modi launched a campaign on Jan Andolan for COVID-19 Appropriate
Behaviour in view of the upcoming festivals and winter season as well as the
opening up of the economy. The highlights of the campaign include
region-specific targeted communication in high case-load districts, simple and
easily understandable messages to reach every citizen, dissemination throughout
the country using all media platforms, banners and posters at public places
involving frontline workers, and targeting beneficiaries of government schemes.
5.
Delhi govt approves tree transplantation policy: Chief Minister of
Delhi, Arvind Kejriwal has passed a first-of-its-kind in India ‘Tree
Transplantation Policy’ to preserve trees for clean and green Delhi. As per
this policy, the trees which needs be felled due to any circumstances, like for
constructions and other development projects, would not be cut but instead
uprooted and transplanted somewhere else.
Features of the Policy: At least 80 per
cent of the total number of trees to be felled for any construction/development
project, must be transplanted to other location. Also, the transplantation
agency will need to ensure that 80 per cent of transplanted trees survive,
following which only they will receive the payments. Additionally, compensatory
plantation of 10 saplings for each tree, as being followed currently, will
continue. This policy, however, will not apply if 10 or fewer trees are to be
felled.
Note: Chief Minister of Delhi: Arvind
Kejriwal; Governor of Delhi: Anil Baijal.
INTERNATIONAL UPDATES:
1.
Union Cabinet approves signing of Memorandum of cooperation in field of
cyber-security between India & Japan: The Union Cabinet approved signing
of an agreement with Japan that is aimed at enhancing cooperation in emerging
technologies, protection of critical infrastructure, cyberspace and to mitigate
threats to communication networks. It said India and Japan are committed to an
“open, interoperable, free, fair, secure and reliable” cyberspace environment
and will work towards promoting the Internet as an engine of innovation and
economic growth. The Union Cabinet, chaired by Prime Minister Narendra Modi has
given its approval for signing a Memorandum of Cooperation [MoC] in the field
of cybersecurity between India and Japan. The approval to the pact by the
cabinet comes in the midst of growing concerns over cyberattacks from China,
particularly after India banned over 100 mobile apps with Chinese links.
2.
COVID-19 to push as many as 150 million people into extreme poverty by 2021:
World Bank: The
World Bank said that the coronavirus pandemic could push as many as 150 million
people into extreme poverty by the end of 2021, wiping out more than three
years of progress in poverty reduction. Releasing its flagship biennial report
on poverty and shared prosperity, the multilateral development lender said that
an additional 88 million to 115 million people will fall into extreme poverty –
defined as living on less than $1.90 a day -in 2020. The report said this could
grow to 111 million to 150 million by the end of 2021.
That would mean that 9.1-9.4% of the
world’s population would be living under extreme poverty this year, about the
same as 2017’s 9.2% and representing the first rise in the extreme poverty
percentage in about 20 years. The 2019 extreme poverty rate was estimated at
about 8.4% and had been expected to drop to 7.5% by 2021 before the coronavirus
pandemic.
3.
World Arthritis Day: 12th October: World Arthritis Day is observed globally on
12th October every year. The day is celebrated to raise awareness about
arthritis, an inflammatory condition which causes pain and stiffness in joints
which can worsen with age. Arthritis is an inflammation of the joints. It can
affect one joint or multiple joints. There are more than 100 different types of
arthritis, with different causes and treatment methods. The most common types
are osteoarthritis (OA) and rheumatoid arthritis (RA). This day was started by
Arthritis and Rheumatism International (ARI) in 1996 to spread awareness about
arthritis and encourage policymakers to help reduce burden of arthritis. World
Arthritis Day theme 2020: Time2Work.
OTHER UPDATES:
SPORTS
1.
Lewis Hamilton wins 2020 Eifel Grand Prix: Lewis Hamilton (Mercedes-Great
Britain) has won the 2020 Eifel Grand Prix, held at the Nürburgring in Nürburg,
Germany. This is Hamilton’s 7th win of the season and 91st career race victory,
which was till now achieved only by Michael Schumacher. Max Verstappen (Red
Bull – Netherlands) came second followed by Daniel Ricciardo (Renault,
Australia) at third position. The race was the eleventh race in 2020 Formula
One World Championship and the first running in the history of the Eifel Grand
Prix.
2.
Rafael Nadal wins French Open 2020: Rafael Nadal beats Novak Djokovic to win
the men’s 2020 French Open Title. This is his 13th French Open men’s singles
title and 20th Grand Slam title. In Women’s single, Iga Swiatek of Poland,
claimed a historic win, by becoming the youngest women to win the title in the
history of the championship. She defeated Sofia Kenin, of the United States and
became the first Polish tennis player to win the singles’ Grand Slam.
Winners of French Open Tennis 2020:
|
Category |
Name of the Sportsperson |
|
Men’s Single |
Rafael Nadal (Spain) |
|
Women’s Single |
Iga Swiatek (Poland) |
|
Men’s Double |
Kevin Krawietz &
Andreas Mies (Germany) |
|
Women’s Double |
Tímea Babos (Hungary)
& Kristina Mladenovic (France) |
BANKING AND FINANCE
1.
HDFC Bank partners with Apollo Hospitals for holistic healthcare solution: HDFC Bank and
Apollo Hospitals have joined hands to launch The HealthyLife Programme, a
holistic healthcare solution which makes healthy living accessible and
affordable on Apollo’s digital platform, Apollo 24/7. The programme is created
exclusively for HDFC Bank customers who will get round the clock access to
emergency Apollo Doctor at No Cost on Apollo 24|7 along with a plethora of
benefits such as choice of payment options and ease of finance for treatments
at all Apollo Hospitals.
2.
LIC Housing launches ‘Project RED’ to improve efficiencies: LIC Housing Finance
Ltd(LICHFL) launched “Project RED” (Reimagining Excellence through Digital
transformation) to improve efficiencies at every level of the organisation.
Project RED aims to create value across the entire spectrum of stakeholders
that includes employees, shareholders, business associates, existing and
potential customers of LICHFL. The project will be implemented over next 21
months and the housing finance company has appointed Boston Consulting Group
(BCG) as its consultant for the project. It will be setting up a high-level
project implementation group which will approve and monitor capacity building
plans.
BUSINESS AND ECONOMY
1.
India’s first B2B Crypto trading exchange DigitX launched: DigitX, India’s
first business-to-business (B2B) cryptocurrency trading exchange, began its
trading operations. DigiX aims to deliver transparent and secure model with its
network of trusted links in a first of its kind industry initiative to instill
trust and confidence in its investors and traders of cryptocurrency.
2.
Tamil Nadu to set up advanced manufacturing hub in partnership with WEF: Guidance, nodal
investment promotion and facilitation agency of the state of Tamil Nadu has
partnered with the World Economic Forum (WEF) to establish India’s first
advanced manufacturing hub (AMHUB) in Tamil Nadu. The Advanced Manufacturing
HUB or AMHUB is one of the 19 platforms designed by the WEF. This platform
focuses on engaging entire regional production ecosystems to identify and
address regional opportunities and challenges brought by the Fourth Industrial
Revolution (4IR) by amplifying regional success stories, sharing best practices
& incubating new partnerships.
AWARDS AND HONOURS
1.
Nobel Prize in Economic Sciences 2020 announced: The Royal Swedish
Academy of Sciences has decided to award the Sveriges Riksbank (Sweden’s
central bank) Prize in Economic Sciences in Memory of Alfred Nobel 2020 to Paul
R. Milgrom and Robert B. Wilson “for improvements to auction theory and
inventions of new auction formats”.
Their theoretical discoveries have improved
auctions in practice: This year’s Laureates, Paul Milgrom and Robert Wilson,
have studied how auctions work. They have also used their insights to design
new auction formats for goods and services that are difficult to sell in a
traditional way, such as radio frequencies. Their discoveries have benefitted
sellers, buyers and taxpayers around the world.
Paul R. Milgrom: He was born in
1948 in Detroit, USA. PhD. 1979 from Stanford University, Stanford, USA.
Shirley and Leonard Ely Jr. Professor of Humanities and Sciences, Stanford
University, USA. Robert B. Wilson: He was born in 1937 in Geneva, USA.
D.B.A. 1963 from Harvard University, Cambridge, USA. Adams Distinguished
Professor of Management, Emeritus, Stanford University, USA.
History of Nobel Prize in Economic Sciences: In 1968, Sveriges Riksbank (Sweden’s central bank) established the Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize. The Prize is based on a donation received by the Nobel Foundation in 1968 from Sveriges Riksbank on the occasion of the Bank’s 300th anniversary. The first Prize in Economic Sciences was awarded to Ragnar Frisch and Jan Tinbergen in 1969.
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