UTTAR PRADESH
Prime Minister lays foundation stone for Bundelkhand Expressway
Prime Minister Narendra Modi laid the foundation stone for the Bundelkhand Expressway at Chitrakoot.
The Expressway will be supplementing the nodes of the Uttar Pradesh Defence Industrial Corridor announced by the Government of India in February 2018.
The Uttar Pradesh Government is constructing the Bundelkhand Expressway which will pass through the districts of Chitrakoot, Banda, Hamirpur and Jalaun.
This expressway will link the Bundelkhand area to the national capital Delhi through Agra-Lucknow expressway and Yamuna expressway as well as play a vital role in the development of Bundelkhand region.
The 296-kilometre long Expressway is expected to benefit Chitrakoot, Banda, Mahoba, Hamirpur, Jaloun, Oraiyah and Etawah districts.
INTERNATIONAL
Scientist discover first-ever animal that does not need oxygen to breathe
Researchers at Tel Aviv University have discovered a unique organism that doesn’t need to breathe. Henneguya salminicola, the tiny parasite, is the first known multicellular animal that can survive without oxygen. It lives in an anaerobic environment.
The parasite lives in salmon tissue and evolved so that it doesn’t need oxygen to produce energy. The researchers made the discovery accidentally while sequencing the Henneguya genome.
H. salminicola is a relative of jellyfish and corals. It lives within the muscle tissue of salmon. It is relatively harmless. It causes diseases like milky flesh or tapioca, which is named for the white fluid-filled cysts it causes in the fish. The parasite lacks mitochondrial genes. Mitochondria is the powerhouse of the cell. It captures oxygen to make energy through aerobic respiration.
The US became Indias top trading partner
The data provided by the Ministry of Commerce stated that in 2018-2019 the US had surpassed China to become India’s top trading partner. It shows greater economic ties between the two countries. The trend is expected to continue in the coming years as India and the US are engaged in further deepening the economic ties.
The bilateral trade between India and the US stood at $87.95 billion in the year 2018-2019.
On the other hand, India’s two-way commerce with China aggregated at $87.07 billion in the same year.
During April-December of the year 2019-20, the bilateral trade between the US and India stood at $68 billion and at $64.96 billion with China.
Both countries are expected to finalize a free trade agreement (FTA) so that the bilateral trade would reach different levels.
India is demanding a cut in visa fees, exemption from high duties imposed on certain steel and aluminum products, and greater market access for its products from sectors such as agriculture, automobile, automobile components, and engineering by the US.
On the other hand, the US wants market access for its farm and manufacturing products, medical devices, dairy items, and data localization. It also demanded a cut on import duties on some information and communication technology (ICT) products. The US has also raised concerns over a high trade deficit with India.
NATIONAL
Cabinet approved the exemption of IPGL from the DPE Guidelines
The Union Cabinet led by PM Narendra Modi approved the exemption of the India Ports Global Ltd (IPGL) from the DPE Guidelines, except reservation and vigilance policies. The approval will help in the smooth execution of the Chabahar project in Iran.
IPGL was established under Companies Act 2013, as a Special Purpose Vehicle (SPV). It was jointly promoted by Jawaharlal Nehru Port Trust (JNPT) and Deendayal Port Trust (DPT) under Administrative control of the Ministry of Shipping, for the development and management of Shahid Behesthi Port of Chabahar in Iran.
As per government’s direction, an Empowered Committee approved the purchase of all the shares of JNPT & DPT by “Sagarmala Development Company Ltd” (SDCL) in December 2018. The move is to exclude JNPT and DPT US sanctions after the US’ withdrawal from the Joint Comprehensive Plan of Action (JCPOA).
Centre approves establishment of 80,000 Micro Enterprises under PMEGP
Centre approved the establishment of 80,000 Micro Enterprises to be assisted in the current financial year under the Prime Minister’s Employment Generation Programme (PMEGP). The approval was decided in a meeting chaired by Shri Nitin Gadkari, Minister of MSME, and Smt. Nirmala Sitharaman, Finance Minister with senior management of all Banks.
PMEGP is a credit-linked subsidy scheme. It promotes self-employment through the setting up of micro-enterprises. Under the scheme, a subsidy up to 35% will be provided by GoI through the Ministry of MSME. The loan can be availed for loans up to Rs.25 lakhs in manufacturing and Rs.10 lakhs in the service sector. No income ceiling for setting up the project under the scheme.
The scheme will generate self-employment opportunities by establishing micro-enterprises in the non-farm sector by helping traditional artisans and unemployed youth in rural and urban areas. Khadi and Village Industries Commission (KVIC) is the nodal implementation agency of the scheme at the national level.