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GKToday Updates : 16 October 2020 Daily Current Affairs
1. Centre to borrow Rs 1.10 lakh crore on behalf of states to meet GST shortfall
- The Finance Ministry said that the Centre will borrow up to 1.10 lakh crore rupees on behalf of the states to bridge the shortfall in GST collections.
- The amount so borrowed will be passed on to the states as a back-to-back loan in lieu of GST compensation cess releases.
- The borrowing will not have any impact on the fiscal deficit of the Government of India.
- The amounts will be reflected as the capital receipts of the state governments and as part of the financing of its fiscal deficits.
- Centre will avoid differential rates of interest that individual States may be charged for their State Development Loans.
2. World Bank to propose 25 billion in extra funding for poorest countries
- World Bank has called for emergency financing of 25 billion dollar to help the world’s poorest countries grapple with the massive challenges of the COVID 19 pandemic.
- World Bank Chief, David Malpass told finance ministers and central bank governors of the G20 major economies that he would propose the supplemental financing package later this month to deputies of the International Development Association (IDA).
- Mr Malpass expressed concerns over the rising risk of disorderly defaults among low-income countries. He said the World Bank and International Monetary Fund have proposed a joint action plan to help the most heavily-indebted IDA countries.
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The World Bank is an international financial institution that provides loans and grants to the governments of low and middle income countries for the purpose of pursuing capital projects.
3. Centre notifies Director-General Shipping as the National Authority for Ships Recycling
- The Central government has notified the Director-General of Shipping as the National Authority for Ships Recycling under Sector 3 of the Recycling of Ships Act, 2019.
- The Director-General Shipping, as an apex body, will be authorized to administer, monitor, and supervise all the activities related to the recycling of the ships.
- The Union Minister of State for Shipping, Mansukh L Mandaviya added that DG Shipping will be the final authority for various approvals that are required by the state governments and ship-recycling yard-owners.
4. Kyrgyzstan President Sooronbai Jeenbekov resigns amid election turmoil
- Kyrgyzstan President Sooronbai Jeenbekov stepped down from his position to bring an end to the turmoil that has gripped the nation after the disputed parliamentary elections.
- He also called on newly-appointed Prime Minister Sadyr Japarov and other opposition politicians to take their supporters away from the capital so that peace could return to Bishkek.
- Kyrgyzstan was plunged into crisis after October 4 General Elections, which were swept by pro-government parties. The opposition criticised the elections, accusing the government of vote-buying and other irregularities.
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Kyrgyzstan, officially the Kyrgyz Republic is the smallest of the five former Soviet states in Central Asia. It is bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the southwest and China to the east. Its capital and largest city is Bishkek.
5. World Food Day: 16th October
- World Food Day is observed globally on 16th October every year to mark the foundation of Food and Agriculture Organisation of the United Nations in 1945.
- The Day stresses the need for global solidarity to help all populations, and especially the most vulnerable to recover from the crisis, and to make food systems more resilient and robust.
- It also highlights the importance to create a food system that can withstand increasing volatility and climate shocks, deliver affordable and sustainable healthy diets for all, and decent livelihoods for food system workers.
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The Food and Agriculture Organization of the United Nations is a specialized agency of the United Nations that leads international efforts to defeat hunger and improve nutrition and food security.
Headquarters: Rome, Italy
6. International Day of Rural Women: 15th October
- The International Day of Rural Women is observed globally on 15th October every year.
- The day recognizes the role of women and girls in ensuring the sustainability of rural households and communities, improving rural livelihoods and overall well-being.
- The theme for this year is: “Building rural women’s resilience in the wake of COVID-19”.
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The Ministry of Agriculture and Farmers Welfare observes the day in India as the Rashtriya Mahila Kisan Diwas since 2016.