Current Affairs 11th February 2019

Current Affairs 11th February 2019 - Important Points

• MEA to Play Facilitating Role to Promote Silk in Global Markets
• World Pulses Day-2019 - February 10th, 2019
• International Labour Organisation Centenary Celebrations Released
• New Policy for Foreign Borrowings
• Prime Minister Launches Development Works in Arunachal Pradesh
• Meghalaya govt to rename Dikkibandi stadium after P A Sangma

Current Affairs 11th February 2019 - Details

MEA to Play Facilitating Role to Promote Silk in Global Markets

The Minister of External Affairs, Sushma Swaraj declared that the Ministry of External Affairs would play a facilitating part in promoting the silk in the international markets.

The External Affairs Minister requested the Textile Ministry to upsurge the production to capture the growing market.

Eradication of the thigh reeling practice in the tasar silk sector

The Ministry of Textiles as part of its effort to eliminate thigh reeling practice in tasar silk sector & to make sure rightful earning to the rural & tribal female reelers are distributing Buniyaad reeling machine to weavers. A mark has been set to eradicate thigh reeling practice by March 2020.

Mobile Application for quality certification

The silk production capacity of India is predictable to upsurge to 38500 tonnes by 2020 from the present level of 32000 tonnes. Increasing production will benefit in reducing import as India is the 2nd largest producer of silk after China & the largest consumer of silk.

Hence to make sure the quality of the silk, the Ministry of Textiles has also released a mobile app e-cocoon for quality certification in the silkworm seed sector.

International Labour Organisation Centenary Celebrations Released

The International Labour Organisation Centenary Celebrations in India were initiated by Union Minister of State (I/C) for Labour & Employment Shri Santosh Kumar Gangwar at V.V. Giri National Labour Institute, Noida.

India being an establishment member has played a vigorous role in every field of the group. India has ratified 47 out of 189 International Labour Organisation conventions during the century which consists of all 8 core conventions.

International Labour Organisation

International Labour Organisation is a tripartite organisation where councils from the government, employers & employees openly debate & create labour standards. International Labour Organisation is celebrating its 100-anniversary in 2019. As part of the 100th Anniversary, International Labour Organisation is executing 7 centenary initiatives.

The future of work initiative

The world of work is experiencing a major process of change. In order to appreciate & to respond effectively to these new challenges, the International Labour Organization has published a ‘Future of Work initiative’ in order to be enable to advance its mandate for social justice.

The End to Poverty Centenary Initiative is outlined specifically as the vehicle to take forward the International Labour Organisation’s work in executing the 2030 Agenda for Sustainable Development.

The females at work initiative goals to better understand & to address, why development on delivering on decent work for females has been much slow & what requires to be done towards securing a better future for females at work.

The Green Initiative goals to scale up the International Labour Organisation’s knowledge, policy response & capacity to manage a just changeover toward greener economies & a sustainable future.

New Policy for Foreign Borrowings

The RBI has come out with a new policy for foreign borrowings. The Reserve Bank of India has rationalized the earlier policy in discussion with the Government of India.

Features of the New Foreign Borrowing Policy

The new policy permits all entitled borrowers to raise External Commercial Borrowings- ECB, up to $750 million/equivalent/financial year under the automatic route replacing the current sector wise limits.

To liberalise the framework External Commercial Borrowings & rupee-denominated bonds Tracks I & II under the current framework are merged as “Foreign Currency denominated External Commercial Borrowings” & Track III & Rupee Denominated Bonds framework are joint as “Rupee Denominated External Commercial Borrowings” to replace the existing 4-tiered structure including Track I, II & III denotes amount & maturity of funds collected.

The Minimum Average Maturity Period has been kept at 3 years for all External Commercial Borrowings, irrespective of the amount of borrowing excluding the borrowers specifically allowable in the circular to borrow for a shorter period.

The list of entitled borrowers has been prolonged to include all entities entitled to get foreign direct investment.

The new policy allows port trusts, units in SEZ, SIDBI, EXIM Bank, registered bodies engaged in micro-finance activities, registered societies/trusts/co-operatives & non-government groups to borrow.

Negative list for which the External Commercial Borrowings proceeds cannot be used comprises real estate activities, investment in the capital market, Equity investment, working capital purposes except foreign equity holder, repayment of Rupee loans for excluding foreign equity holder.

Prime Minister Launches Development Works in Arunachal Pradesh

Prime Minister Narendra Modi initiated various developmental works in the state of Arunachal Pradesh including ‘DD Arunprabha which is an enthusiastic 24×7 Satellite channel for Arunachal Pradesh and Film & Television Institute in Jote.

DD Arunprabha

DD Arunprabha is the 24th satellite channel functioned by Door-darshan. It will telecast the rich tradition & diversity of local culture. Together with helping in integrating North-East with the rest of the nation, the channel will bring alive the magnificence of North-East by divulgence content sensitive to the desires & aspirations of local population counting news, travelogues, mythological shows, documentaries, magazines, tele-films, reality shows, daily shows and many more.

DD Arunprabha is armed with state-of-the-art facilities, comprising a Digital Satellite News Gathering unit to deliver live coverage from remote locations, for the 24×7 telecast. The seamless transmission of DD Arunprabha will be ensured by playout capability & the earth stations recognized at DDK Itanagar.

Film & Television Institute in Jote

The enduring campus of Film & Television Institute would be formed at Jollang-Rakap (Jote), Papum Pare, Arunachal Pradesh. It would be the 3rd Film & Television Institute of Ministry of I&B & 1st in the North-East.

Meghalaya govt to rename Dikkibandi stadium after P A Sangma

The government of Meghalaya has finalised to rename the Dikkibandi stadium after P.A.Sangma. The conclusion was made by the state cabinet according to the commendations made by state naming authority tasked with the job to designate roads, & institutions after personalities. Along with the Dikkibandi stadium, a junction leading to AMPT road in Tura have been retitled after Purno Agitok Sangma.

P.A.Sangma

Purno Agitok Sangma has worked as the Speaker of the Lok Sabha & the CM of Meghalaya. He started his political journey with the Congress party & represented the Tura constituency of Meghalaya in Lok Sabha multiple times.

Purno Agitok Sangma worked as the CM Meghalaya from 1988-1990. He formed the Nationalist Congress Party in 1999 along with Sharad Pawar & Tariq Anwar.

He challenged the elections for the position of President of India in 2012 & lost the elections to Pranab Mukherjee. Purno Agitok Sangma died from cardiac arrest in New Delhi on 4th March 2016 at the age of 68 years.