Navigate

  • Current Affairs 10th November 2018

    Updated : 10-Nov-2018

    Current Affairs 10th November 2018 - Important Points

    • India to resume exporting raw sugar to China from early 2019  by - The Union Ministry of Commerce and Industry 
    • Funds worth Rs 25000 for graduate girls approved by - Bihar
    • Strategic Sale of Government Equity in Dredging Corporation of India approved by - CCEA
    • Leasing out six airports through Public Private Partnership approved by - Cabinet

    Current Affairs 10th November 2018 - Details

    India to resume exporting raw sugar to China from early 2019  by - The Union Ministry of Commerce and Industry 

    India devices to restart exporting raw sugar to China starting 2019, almost subsequently a decade. The initiative is a part of a greater goal of shifting emphasis to the foreign markets to shed excess stocks that have muted prices and resulted financial distress in the Indian sugar mills.
    The Union Ministry of Commerce and Industry informed same in a statement that Indian Sugar Mills Association and a public sector corporation of China, COFCO, have inked a agreement for exporting Fifteen thousand tonnes of raw sugar. 
    Key Highlights

    • India devices to export 2 million tonnes of raw sugar to China starting coming year. 
    • Raw sugar is the 2nd product after non-basmati rice that China will import from India. 
    • The initiative is supposed to decrease the 60 billion trade shortfall that China has with India. 
    • India's export to China in 2017-18 amounted to 33 billion US dollars while imports remained at 76.2 billion dollars.
      Did you know?
      India formed a record 32.5 million tonnes of sugar in the 2017-18 financial year and the output is projected to be approximately the same level in the present marketing year. 
      The yearly domestic demand is approximately 26 million tonnes. The nation also has an opening stock of Ten million tonnes at the beginning of the present marketing year that initiated past month. The government is also conveying with many nations, including China and Indonesia, to enhance exports.

    Funds worth Rs 25000 for graduate girls approved by - Bihar

    The state cabinet of Bihar on November 8th, 2018 permitted a proposal to pay Rupees 25000 to every girl graduating in 2018 and onwards.
    The decision was occupied at the cabinet meeting led by CM Nitish Kumar. According to the decision, the single-time payment will be done to every girl who graduated from the state colleges on or afterward April 25th, 2018, notwithstanding of the pass division, community or region.
    Important Highlights 

    • The state cabinet has sanctioned Rupees 300 crore towards the disbursal of the payment.
    • Approximately, One lakh Twenty thousand girls are anticipated to clear their graduation course in 2018.
    • The scheme is a part of a larger government plan that goals to pay individual girl Rupees 54000 including the payments made to her, right from birth to graduation.
      Other Approvals
    • The cabinet allowed allotment of 50 acres of land without ant fee from the Bhagalpur Engineering College campus to the IIT Institute Society.
    • The cabinet also approved a proposal to form 119 posts, including 109 of English instructors and 10
      employability skills instructors, for the freshly created ITIs and extremist-affected districts for skill development.
    • The cabinet also approved the formation of 132 new positions in the CID state police to man numerous branches for the weaker sections in the districts, including the rail districts.
    • The positions comprise 1 each of DSP (special crime), typist assistant sub-inspector and constable driver for every district.

    Strategic Sale of Government Equity in Dredging Corporation of India approved by - CCEA

    Cabinet Committee on Economic Affairs has sanctioned strategic disinvestment of 100 percent Government of India’s bonds in Dredging Corporation of India Limited- DCIL to association of 4 ports. Currently, Central Government embraces 73.44 percent shares in Dredging Corporation of India Limited. The association of 4 ports consists of Vishakhapatnam Port Trust at Andhra Pradesh, Paradeep Port Trust at Odisha, Jawahar Lal Nehru Port Trust at Maharashtra and Kandla Port Trust at Gujarat. The government’s divestment goal for fiscal 2018-19 was Rupees 80,000 crore and till date it has garnered more than Rupees 15,000 crore from PSU share sales.
    Importance

    • Strategic sale of Dredging Corporation of India Limited will further simplify association of ransacking activities with ports, keeping in mind the role of Dredging Corporation of India Limited in expansion of dredging activity in the nation and potential scope for modification of ports into 3rd party dredging.
    • The co-sharing of amenities between company and ports shall result into savings for ports. 
    • This will also further issue chances for larger investment in Dredging Corporation of India Limited as integration with ports shall benefit ineffective vertical connection in value chain.
      Dredging Corporation of India Limited
    • It is miniratna public sector unit involved in the business of dredging. It does dredge for Indian seaports completely.
    • It is complicated in capital dredging, beach nourishment, and land renovation.
    • It was recognized in March 1976 and is HQ in Visakhapatnam, AP.
    • It presents report to the Ministry of Shipping. Nearly all maintenance dredging in Indian seaports is carried out by DCI.
    • It also infrequently dredges at overseas seaports in nations such as Sri Lanka, Taiwan and Dubai.

    Leasing out six airports through Public Private Partnership approved by - Cabinet

    Union Cabinet led by the PM Narendra Modi has permitted leasing out 6 airports of Airports Authority of India for operation, management and expansion under Public Private Partnership in the 1st phase. This will be completed via Public Private Partnership Appraisal Committee. Union Cabinet also permitted composition of Empowered Group of Secretaries headed by Chief Executive Officer, NITI Aayog with Secretaries of Ministry of Civil Aviation, Department of Economic Affairs and Department of Expenditure to decide on any matter falling beyond scope of Public Private Partnership Appraisal Committee.
    Benefits

    • Public Private Partnership in infrastructure projects carries efficiency in service delivery, enterprise, proficiency and professionalism apart from binding desirable investments in public sector.
    • The Public Private Partnership in airport infrastructure projects has fetched world class infrastructure at airports, delivery of timely services to airport passengers, enhancing revenue stream to Airport Authority of India without accomplishing any investment, for expansion of Greenfield Airports.
    • Currently, Delhi, Mumbai, Bangalore, Hyderabad and Cochin airports are being accomplished under
      Public Private Partnership model.
    • Public Private Partnership airports in India have been hierarchical among top Five in their respective categories by Airports Council International in terms of Airport Service Quality.
    • These Public Private Partnership experiments have facilitated to develop world class airports and also assisted Airport Authority of India in facilitating its incomes and concentrating on evolving airports and air navigation infrastructure in rest of the nation.