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Important Current Affairs 10th June 2020

National

Highest Allocation to MGNREGA Programme

• The Government of India has allocated Rs 1,01,500crores under the MGNREGA programme in the year 2020-21 so far. This is the highest provision of funds allocated for the scheme since its launch.

• The Government of India has already released Rs 31,493 crores. So far 6.69 crore persons have been offered work under the scheme. In May 2020, Rs 2.51crores was spent for the scheme per day. The GoI increased the wages under the scheme from Rs 182 to Rs 202 per day.

• Under the scheme, the focus is given to irrigation, water conservation, horticulture. The scheme also focuses on beneficiary works that promote livelihood.

World Bank lends Rs 1950 crore loans to West Bengal

• West Bengal government has received a loan amount of Rs 1950 crore from the World Bank. The loan amount has been lend to the West Bengal Government to tackle C-19 situation and developmental work in the state.

• Chief Minister Mamata Banerjee said that out of it, Rs. 1,100 crore will be spent for creating Industrial infrastructures and remaining Rs. 850 crore have been allocated for spending on various Social-Welfare schemes.

International

World Bank: India’s economy to contract by 3.2 per cent in fiscal year 2020/21

• According to World Bank, India’s economy will shrink by 3.2 per cent in the current fiscal.

• The Washington-based multilateral lender said that the C-19  and the multi-phased  imposed to curb its spread has resulted in a devastating blow to the Indian economy.

• In its latest edition of the Global Economic Prospect, the World Bank downgraded its projection of India by a massive negative nine per cent.

• In India, growth is estimated to have slowed to 4.2 per cent in the fiscal year 2019/20 (the year ending in March-2020) and output is projected to contract by 3.2 per cent in fiscal year 2020/21.

GoI facilitates filling of NIL GST Return through SMS

• The Government of India has allowed taxpayers to fill their NIL GST monthly reurn form through SMS. This will improve ease of GST compliance to more than 22 lakh taxpayers.

• The facility of filing the NIL form through SMS has been made available in GSTN portal. The portal also allows the users to track their returns.

• The GST is the single tax imposed on goods and services. The GST bill was first introduced in 2014 as the Constitution (122nd) Amendment bill.

Acquisitions and Mergers

RIL to sell 1.16% in Jio to Abu Dhabi Investment Authority for Rs 5,684 cr

• Jio Platforms has received investment of Rs 5683.50 crore from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Hence, ADIA has bought 1.16% stake in Jio Platforms with its investment of Rs 5683.50 crore.

• The investment done by ADIA valued the Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Obituary

Former union minister and Odisha MP Arjun Charan Sethi passes away

• Former Union Water Resources Minister Arjun Charan Sethi passed away. He was eight-time MP from Bhadrak, Odisha. He was Water Resources Minister in Atal Bihari Vajpayee Cabinet from 2000 to 2004.

•  The veteran politician was also elected to Odisha Assembly twice on Janata Dal ticket in 1991 and 1995 from Bhandaripokhari.

Days

World Accreditation Day 2020

• The World Accreditation Day (WAD) is celebrated globally on 9th June every year to highlight and promote the role of accreditation in trade & economy.

• The International Accreditation Forum (IAF) and the International Laboratory Accreditation Cooperation (ILAC) decided the theme for WAD 2020 as “Accreditation: Improving Food Safety”.