Current Affairs

25 June, 2020

International

Covid-19 to Push Additional 120 Million Children into Poverty in South Asian Region : UNICEF Report

The United Nations Children’s Fund (UNICEF) released its first report focusing on the South Asian region on the impacts of COVID-19 on children states that around 240 million children are classified as poor and the current COVID-19 situation will affect an additional 120 million children, a total of 360 million children will be pushed into poverty and food insecurity in the next 6 months.
About UNICEF:
Executive Director– Henrietta Fore
Headquarters– New York, United States of America
About UN:
Secretary General– António Guterres
Headquarters– New York, United States of America

India Committed USD 10 mn to UNRWA Over Next 2 Years During Extraordinary Virtual Ministerial Pledging Conference

During an Extraordinary Virtual Ministerial Pledging Conference for United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), India has announced a contributing United States (US) $10 million towards UNRWA over the coming two years.

National

India Retains its Position as 3rd-largest Economy on PPP basis for 2017; China Tops: World Bank Data

In accordance with the World Bank Data under the International Comparison Program (ICP), revealed by India’s National Statistical Office (NSO) of Ministry of Statistics & Programme Implementation (MoSPI), India has retained its position as the third-largest economy in terms of purchasing power parity (PPP) for 2017 as it accounted for 6.7% or $8,051 billion out of world total of $119,547 billion of global Gross Domestic Product (GDP).
ii.India has followed China (16.4%) and the United States-US (16.3%) which ranked 1st and 2nd respectively.
iii.Overall 19 economies, representing nearly 64% of the global population, contributed three-quarters of global GDP.

MSMEs Launches Funding Scheme “Distressed Assets Fund–Sub-ordinate Debt for MSMEs” to Help the Distressed MSME Sector

Nitin Gadkari(Minister of Micro Small and Medium Enterprises) launched the Credit Guarantee Scheme for Sub-ordinate debt(CGSSD) which is also called the “Distressed Assets Fund–Sub-ordinate Debt for MSMEs” to provide Rs 20000 crore guarantee cover to two lakh MSMEs.
The scheme was formally launched by Shri Nitin Gadkari, after the completion of formalities including approval of CCEA and consultation with the Finance Ministry, SIDBI and RBI among others.

Economy

India’s GDP to contract by 5.3% in FY21, bounce back in FY22: Ind-Ra

In accordance with the India Ratings and Research (Ind-Ra), India’s Gross domestic Product (GDP) is likely to shrink by 5.3% in FY20-21, the lowest GDP growth in the Indian history. It will contract in each quarter in FY21 (April 2020 to March 2021). For FY21-22, it is expected that GDP growth would bounce back in the range of 5-6%.

World’s First Gold-backed US Digital Gold Currency Launched in India, GCC, Middle East and Africa by IBMC

IBMC Financial Professionals Group in partnership with US Gold Currency Inc and Blockfills introduced the world’s first monetary gold-backed US Gold digital currency in India, Gulf Cooperation Council (GCC), Middle East and Africa. It was launched from Dubai, United Arab Emirates (UAE) at a specially designed IBMC Hybrid Event in the virtual presence of officials from the US Gold Currency, Asia-Africa Development Council, GSEF and Blockfills USA.

Sports

World Karate Federation provisionally de-recognised the Karate Association of India

The World Karate Federation (WKF) has provisionally de-recognised the Karate Association of India(KAI) with immediate effect from June 21 for infighting and violating the WKF statutes during its 2019 elections.
ii.KAI can present an appeal to the Disciplinary and Legal Commission within 21 days after the Executive Committee’s notification of the provisional affiliation or disaffiliation and/or the final affiliation or disaffiliation decision by the Congress.
About WKF:
Headquarters– Madrid, Spain
President– Antonio Espinós

Miscellaneous

HRD Ministry Launches YUKTI 2.0 for Higher Education Institutes

Ramesh Pokhriyal ‘Nishank’, The Union Minister of Human Resource Development, launched “YUKTI 2.0”, a platform to support the startups incubated in the institutes of higher education over the virtual platform.
ii.YUKTI 2.0 is a logical extension of YUKTI, which will help in fostering the innovation and entrepreneurship culture in the academic institutions.

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