National
Govt, ADB sign $120 mn loan agreement to Modernize Irrigation and Improve Water Management in Odisha:
i. Government of India and the Asian Development Bank (ADB) signed a $120 million loan agreement here today to improve irrigation and water management infrastructure in Odisha.
ii. The loan is the second tranche of a $157.5 million financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program.
iii. The financing will be used for modernizing seven irrigation subprojects resulting in improved irrigation in over 100,000 hectares, and strengthening of Water User Associations (WUAs) and the institutional capacity of Odisha’s Department of Water Resources.
iv. The selected areas for the investment program are the Baitarani, Brahmani, Budhabalanga, and Subernarekha river basins and part of the Mahanadi delta.
i. Government of India and the Asian Development Bank (ADB) signed a $120 million loan agreement here today to improve irrigation and water management infrastructure in Odisha.ii. The loan is the second tranche of a $157.5 million financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program.
iii. The financing will be used for modernizing seven irrigation subprojects resulting in improved irrigation in over 100,000 hectares, and strengthening of Water User Associations (WUAs) and the institutional capacity of Odisha’s Department of Water Resources.
iv. The selected areas for the investment program are the Baitarani, Brahmani, Budhabalanga, and Subernarekha river basins and part of the Mahanadi delta.
Govt launches campaign against open defecation:
i. As part of its efforts to make villages located along Ganga open defecation-free, Government has launched a campaign ‘Swachh Yug’, a collaborative effort of three Union Ministries, to bring about behavioural change among people staying in villages along the holy river.
ii. There are 5,169 villages located along Ganga falling under 1,651 gram panchayats (GPs) in 52 districts of five states – UP, Uttarakhand, Bihar, Jharkhand and West Bengal from where the holy river flows through.
iii. The Union Ministries of Drinking Water and Sanitation, Water Resources and Youth Affairs are working on the campaign in a collaborative manner.
i. As part of its efforts to make villages located along Ganga open defecation-free, Government has launched a campaign ‘Swachh Yug’, a collaborative effort of three Union Ministries, to bring about behavioural change among people staying in villages along the holy river.ii. There are 5,169 villages located along Ganga falling under 1,651 gram panchayats (GPs) in 52 districts of five states – UP, Uttarakhand, Bihar, Jharkhand and West Bengal from where the holy river flows through.
iii. The Union Ministries of Drinking Water and Sanitation, Water Resources and Youth Affairs are working on the campaign in a collaborative manner.
Key insights of the campaign:
a) As part of the campaign, the Ministry of Youth Affairs, under the coordination of the Nehru Yuva Kendra Sangathan, will enlist support of youth agencies such as the Bharat Scouts and Guides, Nehru Yuva Kendras and National Service Scheme.
b) To take this initiative forward, a nodal officer has been identified for each district to work on making area under their jurisdiction open defecation free (ODF) in a “mission mode” as well as to focus on cleanliness at village through proper solid and liquid waste management.
a) As part of the campaign, the Ministry of Youth Affairs, under the coordination of the Nehru Yuva Kendra Sangathan, will enlist support of youth agencies such as the Bharat Scouts and Guides, Nehru Yuva Kendras and National Service Scheme.
b) To take this initiative forward, a nodal officer has been identified for each district to work on making area under their jurisdiction open defecation free (ODF) in a “mission mode” as well as to focus on cleanliness at village through proper solid and liquid waste management.
Four Indians in Forbes 100 Most Powerful Women list:
i. Four Indian women led by Arundhati Bhattacharya, Chairman of the county’s largest lender, the State Bank of India (SBI), have been ranked in the latest Forbes list of 100 most powerful women in the world.
ii. While Bhattacharya has been ranked 25th, others areChanda Kochhar of ICICI Bank (40th), Kiran Mazumdar-Shaw of Biocon (77th), and Shobhana Bhartia of HT Media, which publishes the Hindustan Times (93rd).
iii. Further, German Chancellor Angela Merkel topped the list for the sixth consecutive year and 11 times in total.
i. Four Indian women led by Arundhati Bhattacharya, Chairman of the county’s largest lender, the State Bank of India (SBI), have been ranked in the latest Forbes list of 100 most powerful women in the world.ii. While Bhattacharya has been ranked 25th, others areChanda Kochhar of ICICI Bank (40th), Kiran Mazumdar-Shaw of Biocon (77th), and Shobhana Bhartia of HT Media, which publishes the Hindustan Times (93rd).
iii. Further, German Chancellor Angela Merkel topped the list for the sixth consecutive year and 11 times in total.
Rajasthan Government launches Mobile App RajVayu on Air Quality Index:
i. Rajasthan Government has launched mobile applicationRajVayu for sharing information about air quality index of Jaipur, Udaipur and Jodhpur.
ii. The app was launched by Rajasthan Chief MinisterVasundhara Raje on the eve of World Environment Day (5th June). With this, Rajasthan becomes first state in countryto launch such app for sharing information about air quality index of cities.
i. Rajasthan Government has launched mobile applicationRajVayu for sharing information about air quality index of Jaipur, Udaipur and Jodhpur.ii. The app was launched by Rajasthan Chief MinisterVasundhara Raje on the eve of World Environment Day (5th June). With this, Rajasthan becomes first state in countryto launch such app for sharing information about air quality index of cities.
Key features of RajVayu:
a) Information provided on RajVayu app is based on the data collected by sophisticated air quality monitoring equipment and weather sensors.
b) The app has been designed by Rajasthan State Pollution Control Board (RSPCB) jointly withIndian Institute of Tropical Meteorology (IITM).
c) It would share details about the air quality, such as levels of pollutants likes SOx, NOx, CO, Ozone particles and Particulate Matter (PM) with the city residents and tourists.
d) This app is based on the System of Air Quality and Weather Forecasting Research (SAFAR-India) which is presently connected in Delhi, Mumbai and Pune.
a) Information provided on RajVayu app is based on the data collected by sophisticated air quality monitoring equipment and weather sensors.
b) The app has been designed by Rajasthan State Pollution Control Board (RSPCB) jointly withIndian Institute of Tropical Meteorology (IITM).
c) It would share details about the air quality, such as levels of pollutants likes SOx, NOx, CO, Ozone particles and Particulate Matter (PM) with the city residents and tourists.
d) This app is based on the System of Air Quality and Weather Forecasting Research (SAFAR-India) which is presently connected in Delhi, Mumbai and Pune.
Besides, CM Vasundhara Raje also launched another application named ‘Drishti’ for monitoring of pollution levels in industrial regions. It has been designed by the RSPCB with the support fromRajComp.
Gujarat Government announces IT policy to promote IT-based start-ups:
i. The Gujarat government has announced its first ever IT and Electronics Start-up Policy which will be applicable only to IT and electronics related start-ups.
ii. The policy has special focus on encouraging new ventures by providing them various incentives and subsidies.
i. The Gujarat government has announced its first ever IT and Electronics Start-up Policy which will be applicable only to IT and electronics related start-ups.ii. The policy has special focus on encouraging new ventures by providing them various incentives and subsidies.
Under this policy:
a) State Government will develop 50 new incubators to mentor and guide 2,000 start-ups in the next five years.
b) State government will provide 50% capital investment assistance, in the limit of 50 lakh rupees, for setting up an incubator.
c) Incubators will be entitled to get 5 lakh rupees each year as mentoring assistance and the state government will give 1 crore rupees as assistance for the procurement of software to these incubators.
a) State Government will develop 50 new incubators to mentor and guide 2,000 start-ups in the next five years.
b) State government will provide 50% capital investment assistance, in the limit of 50 lakh rupees, for setting up an incubator.
c) Incubators will be entitled to get 5 lakh rupees each year as mentoring assistance and the state government will give 1 crore rupees as assistance for the procurement of software to these incubators.
Delhi Government approves first Solar Policy:
i. The Delhi government has approved the first Solar Policy which aims at making the Capital an environment-friendly solar city.
ii. The policy has been prepared by the Government of Delhi in consultation with the Dialogue and Development Commission (DDC) after extensive consultations with local and international experts.
i. The Delhi government has approved the first Solar Policy which aims at making the Capital an environment-friendly solar city.ii. The policy has been prepared by the Government of Delhi in consultation with the Dialogue and Development Commission (DDC) after extensive consultations with local and international experts.
Key features of Policy:
a) Recommends the installation of 1 GW (1,000 Mega Watts) solar power capacity in Delhi by 2020, which is proposed to be doubled to 2 GW by 2025.
b) Outlines a combination of regulations, mandates, incentives, and tax breaks for the growth of rooftop solar power in the Capital.
c) Power department’s Energy Efficiency and Renewable Energy Management Centre (EE&REM) will be nodal agency responsible for effective implementation of this policy.
a) Recommends the installation of 1 GW (1,000 Mega Watts) solar power capacity in Delhi by 2020, which is proposed to be doubled to 2 GW by 2025.
b) Outlines a combination of regulations, mandates, incentives, and tax breaks for the growth of rooftop solar power in the Capital.
c) Power department’s Energy Efficiency and Renewable Energy Management Centre (EE&REM) will be nodal agency responsible for effective implementation of this policy.
Himachal Pradesh becomes first state to launch green-concept based State Data Centre:
i. Himachal Pradesh became the first state in the country to have aState Data Centre (SDC), designed using green data centre concept. It was launched by Chief Minister Virbhadra Singh in Shimla.
ii. It is first SDC in the country which has been designed using green data centre concept to minimise power requirement and increase power utilisation efficiency.
iii. SDC would help different state government departments to roll out more government-to-citizen-services. It will also enable people these services from anywhere and anytime.
iv. The SDC will offer 101 people-oriented services online through an integrated data base.
i. Himachal Pradesh became the first state in the country to have aState Data Centre (SDC), designed using green data centre concept. It was launched by Chief Minister Virbhadra Singh in Shimla.ii. It is first SDC in the country which has been designed using green data centre concept to minimise power requirement and increase power utilisation efficiency.
iii. SDC would help different state government departments to roll out more government-to-citizen-services. It will also enable people these services from anywhere and anytime.
iv. The SDC will offer 101 people-oriented services online through an integrated data base.
Business & Economy
RBI cites inflation risks, keeps policy rate unchanged:
i. The Reserve Bank of India (RBI) on Tuesday left its key policy rate unchanged as it raised concerns about upside risks to inflation.
ii. The central bank left its benchmark repo rate steady at 6.50%. Consequently, the reverse repo rate will remain at 6%. The cash reserve ratio was also kept unchanged at 4%.
iii. Gross domestic product (GDP) data released on 31 May showed that the economy grew at a faster than expected 7.9% in the final quarter of fiscal 2016.
i. The Reserve Bank of India (RBI) on Tuesday left its key policy rate unchanged as it raised concerns about upside risks to inflation.ii. The central bank left its benchmark repo rate steady at 6.50%. Consequently, the reverse repo rate will remain at 6%. The cash reserve ratio was also kept unchanged at 4%.
iii. Gross domestic product (GDP) data released on 31 May showed that the economy grew at a faster than expected 7.9% in the final quarter of fiscal 2016.
Current Rates as announced today are:
1. Repo Rate – 6.50%
2. Reverse Repo Rate – 6.00%
3. CRR (Cash Reserve ratio) – 4% (Unchanged)
4. Bank Rate – 7.00%
5. MSF (Marginal Standing Facility) – 7.00%
6. SLR (Statutory Liquidity Ratio) – 21.25%
Axis Bank launches India’s first certified green bond at LSE:
i. Axis Bank raised USD 500 million at the London Stock Exchange after it launched India’s first internationally-listed certified green bond to finance climate change solutions around the world.
ii. One of India’s leading private sector capital markets banks opened trading at the London Stock Exchange (LSE) with the bond, which is certified by the Climate Bonds Standards Board and raised USD 500 million.
iii. Axis Bank said the proceeds of the bond will be invested in green energy, transportation and infrastructure projects, reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.
iv. This is the first green bond for Axis Bank within its USD 5 billion Medium Term Note (MTN)programme, which has also listed entirely on LSE. Shikha Sharmais the managing director & CEO of Axis Bank.
i. Axis Bank raised USD 500 million at the London Stock Exchange after it launched India’s first internationally-listed certified green bond to finance climate change solutions around the world.ii. One of India’s leading private sector capital markets banks opened trading at the London Stock Exchange (LSE) with the bond, which is certified by the Climate Bonds Standards Board and raised USD 500 million.
iii. Axis Bank said the proceeds of the bond will be invested in green energy, transportation and infrastructure projects, reinforcing India’s commitment to produce 175,000 MW of renewable power by 2022.
iv. This is the first green bond for Axis Bank within its USD 5 billion Medium Term Note (MTN)programme, which has also listed entirely on LSE. Shikha Sharmais the managing director & CEO of Axis Bank.