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  • Current Affairs 8th February 2019

    Updated : 08-Feb-2019

    Current Affairs 8th February 2019 - Important Points       

    • RBI lowers Repo Rate dropped by - 25 basis points
    • Parmanu Tech 2019  held by - Ministry of External Affairs & Department of Atomic Energy
    • Cinematograph  Amendment Bill 2019 sanctioned by - Union Cabinet
    • India becomes 2nd Largest Consumer &Importer of -  LPG
    • Proposal for higher power allocation to Telangana, Jharkhand approved on - 6th February 2019

    Current Affairs 8th February 2019 - Details

    RBI lowers Repo Rate dropped by - 25 basis points

    The 6-member  monetary policy committee  led by Reserve Bank of India Governor Shaktikanta Das has dropped the repo rate by 25 basis points to 6.25% in a 4-2 vote.
    Important decisions by the MPC

    • Together with dropping the repo rate by 25 basis points to 6.25%, the policy stance has been altered to neutral from calibrated tightening.
    • The shift in stance to neutral delivers flexibility to complete growth challenges.
    • The alteration in stance also signs higher chances of more cuts in the forthcoming months if inflation persisted within tolerable bounds.
    • A large part of the present investment recovery has been driven by government spending & it was essential to broad base the revival with a private sector boost.
      Other announcements made by RBI
      The limit of collateral free bank loans for farmers to Rupees 1.6 lakh from Rupees 1 lakh.
      Greater operational liberty for Banks to offer interest rates to bulk deposits which has been upsurged to Rupees 2 crore from Rupees One crore presently.
      The headline inflation is likely to persist within the Reserve Bank of India’s tolerable level of 4%.

    Parmanu Tech 2019  held by - Ministry of External Affairs & Department of Atomic Energy

    The Parmanu Tech conference was held by the Ministry of External Affairs & Department of Atomic Energy. The important address at the “Parmanu Tech 2019” conference was delivered by Dr.Jitendra Singh, Minister of State for Atomic Energy & Space.
    Highlights of the Speech

    • India has covered a long journey since the beginning of Atomic Energy program by Dr.Homi Bhabha
      grounded on the peaceful usage of nuclear energy.
    • India has attained a unique place in the International market for progress in space technology and
      nuclear energy too.
    • India has always utilised technology for constructive way rather than for destructive purpose.
      Attentive efforts are needed to create awareness about the advantages of nuclear energy & to allay the fears about radiation & its evils.
    • Nuclear energy will be a big & affordable source of energy in future when the other sources of power are gradually reducing.
      Sessions in Parmanu Tech 2019
      Health care session; Nuclear Medicine & Radiation therapy ‘Care to Cure’.
      Food Preservation, Agricultural & Industrial Applications; From Farms to factories ‘Serving the National Cause.’
      Displaying India’s capabilities in Nuclear Energy; Energy Security with environmental responsibility– the Onward March.

    Cinematograph  Amendment Bill 2019 sanctioned by - Union Cabinet

    The Union Cabinet led by PM Narendra Modi has sanctioned the Cinematograph Amendment Bill 2019.
    The amendment bill goals to modify the Cinematograph Amendment act 1952. The Cinematograph Amendment Bill, 2019 goals to challenge film piracy by including the penal provisions for unauthorised cam-cording & duplication of movies.
    Key features of the amendment bill

    • The amendment bill makes film piracy punishable offence with jail up to 3 years & fine that may extend to 10 lakh/both.
    • The modification states that any person, who without the written approval of the copyright owner,
      utilises any recording device to make/transmit a copy of a film/attempts to do so, or support the
      making/transmission of such a copy, will be accountable for such a punishment.
    • Section 7 of the Cinematograph Act, 1952 deals with who can watch & exhibit which type of movies & drawbacks for violating terms & conditions concerned to the exhibition of board-qualified movies.
    • The amendment bill augments a new subsection (4) to section 7 of the Cinematograph Act, 1952 with the definition of piracy & the penal provisions for the same.

    India becomes 2nd Largest Consumer &Importer of -  LPG

    India is now the 2nd largest consumer & importer of the Liquified Petroleum Gas- LPG in the world. This is credited to government initiatives to push for cleaner substitutes to traditional cooking fuels such as firewood & cow dung.
    The flagship plan of the government Pradhan Mantri Ujjwala Yojana has made a noteworthy contribution towards attracting the penetration of Liquified Petroleum Gas, especially in rural areas.
    Import of LPG
    The import of Liquified Petroleum Gas increased by 12.5% over the last 5 years to 12 million metric tons
    in 2018-19. India now stands at the 2nd position when it comes to the import of Liquified Petroleum Gas surpassing Japan. India is at 2nd place behind China. The exporters of Liquified Petroleum Gas to India consist Saudi Arabia, Qatar, the United Arab Emirates, Kuwait & Iran.
    Consumption of LPG

    • The number of active Liquified Petroleum Gas consumers in India has grown-up at a compounded annual growth rate of 15% from 14.8 crore in 2014-15 to 22.4 crore in 2017-18.
    • Upsurge in population combined with Liquified Petroleum Gas penetration in rural areas has gave rise to in an average growth of 8.4% in Liquified Petroleum Gas consumption, making India the 2nd largest consumer of Liquified Petroleum Gas in the world at 22.5 million tonnes.
    • The Ministry of Petroleum & Natural Gas estimates that Liquified Petroleum Gas consumption would grow to 30.3 million tonnes by 2025 & 40.6 million tonnes by 2040.

    Proposal for higher power allocation to Telangana, Jharkhand approved on - 6th February 2019

    The Union Cabinet led by PM Narendra Modi on February 6th, 2019 sanctioned the application of the
    Ministry of Power to assign 85% power from Telangana Super Thermal Power Project about 4000 MW of NTPC Ltd to the Telangana government.
    Important Highlights

    • The Telangana Super Thermal Power Project will construct at Ramagundam in Peddapalli district & the Patratu Super Thermal Power Station will construct at Patratu in the Ramgarh district of Jharkhand. 
    • The 1st phase of the Telangana Super Thermal Power Project will consist 2 units of 800 MW each & 2nd phase for 3 units of 800 MW each. 
    • The Patratu Thermal Power Station will consist 3 units of 800 MW each in the 1st phase while 2 units 800 MW each in the 2nd phase.
    • The Andhra Pradesh Reorganization Act, 2014 mandates that Thermal Power Project shall establish a 4000 MW power facility in the successor state Telangana, as mentioned in the 13th Schedule of the Act.