DAILY CURRENT AFFAIRS- 24 OCTOBER 2019

1. Foundation stone for Sri Sathya Sai Sanathana Samskruti Project laid in Japan

The foundation stone for Sri Sathya Sai Sanathana Samskruti Project has been laid by President Ram Nath Kovind at Sai no Sato in Japan. The place will be built as a temple similar to the Akshardham Temple and Swaminarayan Temple so as to promote the traditional culture of India.

2. Government raises MSP of Rabi Crops for 2020-21

In a bid to increase farmer’s income, the Minimum Support Price (MSP) for Rabi Crops for 2020-21 has been increased by the government. The MSP hike is as follows:

Crops Increment MSP for Marketing Season 2020-21 Wheat Rs. 85/quintal Rs. 1925/quintal Gram Rs. 255/quintal Rs. 4875/quintal Barley Rs. 85/quintal Rs. 1525/quintal Mustard Oil Rs. 225/quintal Rs. 4425/quintal Safflower Rs. 270/quintal Rs. 5215/quintal Lentil Rs. 325/quintal Rs. 4800/quintal

Minimum Support Price is the price at which the government procures the crops produce from the farmers when the market price falls below this price.

3. World Bank releases Doing Business Report 2020

The latest Doing Business Report 2020 has been released by World Bank in which India has jumped 14 places to be ranked at 63rd position among 190 countries. In 2019, India was ranked in 77th place. India is among the top ten improvers due to its consistent increase in rank in the last five years owing to various efforts made by the government.

India has shown improvement in the following indicators:

a. Resolving Insolvency- Increase in recovery rate, reduction in time taken for resolving insolvency, etc.

b. Dealing with Construction permits- the number of procedures has been reduced in giving construction permits.

c. Registering Property

d. Trading across borders

e. Paying taxes

4. India-Pakistan sign agreement on Kartarpur Corridor

India and Pakistan have signed an agreement on the modalities for the operationalization of the Kartarpur Sahib Corridor at Zero Point, International Boundary, Dera Baba Nanak. With the signing of this agreement, Indian pilgrims and PIO can use the corridor to visit Gurudwara Darbar Sahib Kartarpur without any visa. The corridor will remain open through the year, except on notified days.

5. Norms relaxed for establishing petrol pumps

The norms for setting up petrol pumps has been relaxed by the government to bring in private and foreign players in the fuel retailing sector. The companies with a net value of Rs 250 crores can now sell petrol and diesel but they have to set up a facility within three years of operation for marketing at least one alternative fuel like CNG, Biofuel, EV charging, etc.

The retailers have to establish 5% of total petrol pumps in rural areas within 5 years of operation.

6. Merger of BSNL and MTNL

The cabinet has approved four step revival plan for the two loss making telecoms - BSNL and MTNL. The revival plan starts with merger of the two PSUs with MTNL as a subsidiary of BSNL. The other provisions in the revival plan are raising sovereign bonds worth Rs 15,000 crores, Monetization of assets worth Rs. 38,000 crores and Voluntary retirement schemes packages.

7. Chenani-Nashri Tunnel renamed as Shyama Prasad Mukherjee Tunnel

Chenani-Nashri Tunnel in Jammu & Kashmir will now be known as Shyama Prasad Mukherjee Tunnel.

This tunnel has a length of 9km and is India’s longest all-weather road tunnel. The tunnel is significant as it has reduced the travel time between Jammu and Srinagar by 2 hours and the distance by 30 km. The tunnel is also Asia’s longest bi-directional highway tunnel.

8. MoU signed between GeM and Federal Banks

An MoU has been signed between Government e-Marketplace (GeM) and Federal Bank to offer various services that will facilitate a cashless and transparent payment system on its portal and increase efficiency in the procurement system.

GeM is a public procurement portal (B2G) where common use Goods and Services can be purchased by the government departments/organisations.

9. Anandan Gunasekaran wins 3rd Gold in the men’s disabled 200m IT1 event in World Military Games

Para-athlete Anandan Gunasekaran bagged three golds in the men’s disabled 100m, 200m, and 400m IT1 events while Shivpal Singh won the gold medal in javelin throw event at 7th CISM World Military Games.

10. China to host the new FIFA World Cup for Clubs

FIFA president Gianni Infantino announced that China will be hosting the inaugural edition of the 24 teams FIFA World Cup for Clubs in 2021. Currently, FIFA Club World Cup is contested by 7 teams. In 2019 and 2020, the Club World Cup will be hosted by Qatar.

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