Deep Submergence Rescue Vehicle Complex inaugurated at Visakhapatnam

1.Global economy to shrink 5.2% this year due to coronavirus pandemic

According to the World Bank, the global economy, which has plunged into a severe contraction, will shrink by 5.2 per cent this year due to the massive shock of the coronavirus pandemic.The coronavirus recession is the first since 1870 to be triggered solely by a pandemic.Emerging Markets and Developing Economies (EMDEs) are expected to shrink by 2.5 per cent this year, their first contraction as a group in at least 60 years.Per capita incomes are expected to decline by 3.6 per cent, which will tip millions of people into extreme poverty this year.The current projections suggest that the coronavirus recession will involve a decline in global per capita Gross Domestic Product (GDP) by 6.2 per cent.

2.Centre allots Rs 4,000 cr to states under ‘Per Drop More Crop’

The Central government has allocated Rs 4,000 crore as annual allotment to states for the current financial year under the ‘Per Drop More Crop’ component of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY-PDMC).The state governments have identified the beneficiaries to be covered under the programme.The Department of Agriculture Cooperation and Farmers’ Welfare is implementing the ‘Per Drop More Crop’.PMKSY-PDMC focuses on enhancing water efficiency at farm level through micro irrigation technologies such as ‘drip and sprinkler’ irrigation.The drip micro irrigation technique not only helps in saving water but also reduces fertilizer usage, labour expenses and other input costs.So far, micro irrigation funds have been released to Andhra Pradesh and Tamil Nadu for Rs 616.14 crore and for Rs 478.79 crore, respectively, through NABARD.

3.MHA reconstituted a new committee for the welfare of freedom fighters

The Ministry of Home Affairs (MHA) has reconstituted a new committee for the welfare of the freedom fighters.This committee chaired by the minister of state for home affairs G Kishan Reddy and 9 other “eminent freedom fighters” from across the country.The ministry features a separate division to serve freedom fighters who are alive and their families.It disburses pension to about 30,000 freedom fighters and their families.Besides Reddy, former Congress MLA from Gujarat Dinakar Bhai Desai, who took part within the 1942 Quit India movement, is among those a part of the panel.

4.Operation Desert Chase: 2 arrested in Rajasthan for sharing confidential details with Pakistan

The special branch of Rajasthan Police arrested two civil defence employees on espionage charges.Both the employees were passing information to the Pakistani intelligence agency, the police said.The arrests were made based on the inputs provided by Military Intelligence (MI).The Operation is an anti-espionage operation that was started by the Military Intelligence in 2019. The men were arrested under Official Secrets Act, 1923.

5.Deep Submergence Rescue Vehicle Complex inaugurated at Visakhapatnam

The Deep Submergence Rescue Vehicle (DSRV) Complex was inaugurated at Visakhapatnam by Vice Admiral Atul Kumar Jain.The DSRV Complex is designed to accommodate the newly inducted Submarine Rescue System with state of the art facilities to store the DSRV assets in a Rescue-Ready state.The DSRV system consists of a Submarine Rescue Vessel, a Remote Operations Vehicle, Side Scan Sonar and associated equipment.It also has Diver Decompression Chambers and hyperbaric medical equipment to decompress submariners after being rescued from a sunken submarine.The DSRV system can be rapidly mobilised by air or road to facilitate submarine rescue operations even at distant locations.

6.Indian economy to grow at 9.5 pct in next fiscal, says Fitch Ratings

After a contraction in the current financial year, India’s economy is forecast to bounce back with a sharp growth rate of 9.5 percent next fiscal, Fitch Ratings has said.It has forecast a 5 percent contraction in the GDP in the ongoing financial year.After the global crisis, India’s GDP growth is likely to return to higher levels than ‘BBB’ category peers.The government has announced stimulus measures amounting to 10 percent of GDP.

7.29% rise in Asiatic lion population in Gir

The Gujarat forest department said that the number of Asiatic lions in the Gir forest region has increased by 29 per cent to 674.The department carried out a `population estimation exercise’ on the night of June 5 and 6 when there was a full moon.As per the May 2015 census, there were 523 Asiatic lions in Gir, an increase of 27 per cent from 2010.The “Poonam Avlokan (full-moon night estimation exercise)” showed that the lions’ population had reached 674, a 28.87 percent increase.It was the highest growth rate recorded so far, it added.The population of 674 comprised 161 males, 260 females, 116 sub-adult lions and 137 cubs.

8.Bank of Baroda, Union Bank of India reduce MCLR across all tenors

State-run lenders Bank of Baroda (BoB) and Union Bank of India (UBI) have announced cut in their marginal cost of funds-based lending rates (MCLR) across all tenors.Bank of Baroda has revised its one-year MCLR to 7.65 per cent from 7.80 per cent. Its six-month MCLR has been revised downwards to 7.50 per cent from 7.65 percent earlier.Union Bank of India has reduced its one-year MCLR to 7.60 per cent from 7.70 per cent.The six months MCLR of UBI has been cut to 7.45 per cent.Country’s largest lender State Bank of India (SBI) has reduced its MCLR by 25 basis points across all tenors from.While private sector lender HDFC Bank has cut its MCLRs by 5 bps, state-run Bank of Maharashtra has reduced it by 20 basis points from June 8.

9.Customs duty hiked on bamboo imports from 10% to 25%

Union Government has hiked Customs duty on bamboo imports by agarbatti manufacturers from 10 per cent to 25 per cent with immediate effect.The decision has been taken to encourage use of domestic bamboo under the  Atma Nirbhar Bharat scheme.The 25 per cent customs duty rate shall now uniformly apply to any import of bamboo, including by traders.This measure is seen to benefit farmers and MSME agarbatti manufacturers.

10.TCS iON partners with NSDC to accelerate skill development

TCS iON, a strategic unit of Tata Consultancy Services, has partnered with the National Skill Development Corporation (NSDC) to provide its training partners access to digital skilling tools using TCS’ iON Digital Glass Room.The partnership aims to strengthen NSDC’s online content aggregation platform – eSkill India.It enables e-learning amongst skill seekers and will contribute towards strengthening the Skill India mission.The TCS iON Digital Glass Room is a web-based digital education platform that empowers educators to engage with students in real-time by uploading and sharing their own lessons.

11.NFL inks MoU with ITI Nangal for training of youth in 12 trades for employment

National Fertilizers Limited, NFL has started tying up with Industrial Training Institutes located near to its plants to train youth in various trades and to enhance the chances of their employability in heavy and process industry.The Nangal plant of the company in Punjab has signed an MoU with ITI, Nangal to train youth in 12 trades.The students will be skilled under the Dual System of Training Scheme under which they will learn theoretical skills in the institute and on-the-job training in NFL Nangal plant.ITI, Nangal is one of the oldest institutes in Punjab.NFL has five gas based Ammonia-Urea plants in Nangal and Bathinda plants in Punjab, Panipat plant in Haryana and two plants at Vijaipur in Guna District of Madhya Pradesh.

12.Russian high jumper Shustov receives four-year doping ban

Russian high jumper Alexander Shustov, the 2010 European champion, has received a four-year ban for anti-doping violations.Shustov, who retired from competition in 2017, has been suspended until 2024 for “use or attempted use of a banned substance or prohibited method”.Russia’s athletics federation was suspended in 2015 after a report commissioned by the World Anti-Doping Agency (WADA) found evidence of mass doping in the sport.

13.Burundi President Pierre Nkurunziza dies of ‘cardiac arrest’ at 55

Burundi’s President Pierre Nkurunziza has died after suffering a cardiac arrest.After 15 years in power, Mr Nkurunziza was due to step down in August.In 2015, the announcement that he would run for a third term plunged the country into chaos.He was also due to receive a $540,000 (£440,000) retirement pay-out and a luxury villa.