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The Hindu Newspaper 27th March 2020

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1.Galilee Basin’ was in new recently. Where is it located?

2.‘Island Development Agency (IDA) is chaired by

3 The Fair and Remunerative Price (FRP) of sugarcane is approved by 

a) Cabinet Committee on Economic Affairs
b) Commission for Agricultural Costs and Prices
c) Directorate of Marketing and Inspection, Ministry of Agriculture
d) Agricultural Produce Marketing Committee

Solution:- CACP recommends the fair and remunerative prices based on inter-crop price parity, inflation considerations, fair return to farmers and a host of other factors.

It is the cabinet Committee on Economic affairs that finally approves it.

2)₹1.7 lakh cr. lockdown package rolled out

What is in the Package:-

One Editorial was on this Package only:-It covers various sections of the vulnerable, ranging from farmers and women Jan Dhan account holders, to organised sector workers, to the most important of all —healthcare workers, who will now get a sizeable insurance cover of ₹50 lakh.

The doubling of food grain allocation offered free is a good idea that privileges the hungry poor over rodents and pests devouring the stocks inFood Corporation of India godowns. So is the move toprovide free cooking gas refills to the underprivileged who are part of the PM Ujjwala scheme.

The offer to pay both employer and employee contributions to the Provident Fund for very small business enterprises is welcome and will offer relief to those businesses that havebeen forced to shut down operations, and also to employees earning small salaries for whom the PF deduction may hurt at this point in time. The salary limit could have been set higher at ₹25,000 per month —there’s no cash outgo for the government anyway because this is just a book entry transaction.

3)Kudumbashree is the poverty eradication and women empowerment programme implemented by the State Poverty Eradication Mission (SPEM) of the Government of Kerala.

The name Kudumbashree in Malayalam language means ‘prosperity of the family’.

Kudumbashree, the Kerala State Poverty Eradication Mission was launched on 17th May 1998 inaugurated by the Prime Minister, Shri Atal Bihari Vajpayee.

The Mission aims to eradicate absolute poverty within a definite time frame of 10 years under the leadership of Local Self Governments formed and empowered by the 73rd and 74th Amendments of the Constitution of India.

The Mission launched by the State Government with the active support of Government of India and NABARD has adopted a different methodology in addressing poverty by organizing the poor in to community-based organizations. The Mission follows a process approach rather than a project approach.

4)Keqiang Index:- Liturned to three more reliable indicators: electricity consumption, railway cargo volume and bank lending, now famously called the ‘Keqiang Index’.
As the cable put it, “By looking atthese three figures, Li said he can measure with relative accuracy the speed ofeconomic growth. All otherfigures, especially GDP statistics, are ‘for reference only,’.
5)G-20 commits $5 trillion amid COVID-19 scare:-
The world needs to “redefine” its conversations onglobalisation to include social and humanitarian issues such as terrorism, climate change and pandemics along with financial and economic discussions, said Prime Minister Narendra Modi, speaking at a videoconference of leaders of the world’s top 20 economies,the G20, hosted by the Saudi King, Salman bin AbdulazizAl Saud, to discuss the novel coronavirus pandemic.
According to a release, the G-20 countries committed on Thursday to inject more than $5 trillion into the globaleconomy, and contribute tothe COVID-19 solidarity response fund led by the WorldHealth Organization (WHO).
6)DRDO develops ventilators:- The Defence Research andDevelopment Organisation(DRDO) has developed a ventilator and is working with the industry to produce 5,000 of them permonth to treat COVID-19 patients.
About DRDO:- The Defence Research and Development Organisation (DRDO) is an agency of the Government of India, charged with the military’s research and development, headquartered in Delhi India.
It was formed in 1958 by the merger of the Technical Development Establishment and the Directorate of Technical Development and Production of the Indian Ordnance Factories with the Defence Science Organisation.
It is under the administrative control of the Ministry of Defence, Government of India.
7)Crisil cuts growth estimate:- Rating agency Crisil has cut the country’s GDP growth forecast for the next financial year to 3.5% from 5.2% projected earlier, due to thespread of COVID-19.

CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. CRISIL’s majority shareholder is Standard & Poor’s, a division of McGraw Hill Financial and provider of financial market intelligence.

Crisil was Founded in 1987.

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