Gujarat Affairs
Only 11% of FY23 export credit targets met
Gujaratwitnessed a significant decline in export orders across key manufacturing sectors, leading to a failure in meeting the export credit targets set by banks under the Service Area Credit Plan (SACP) for the fiscal year 2022-23.
According to the State Level Bankers Committee (SLBC) Gujarat report, export credit targets were achieved at a mere 11% of the intended amount during FY 2023. Out of the targeted Rs 2,356 crore, only Rs 272 crore was disbursed throughout the year.
In terms of the number of accounts, the achievement in disbursals was less than 1%, with only 112 accounts receiving funds against the targeted 23,810 accounts.
The decline in exports within sectors such as gems and jewellery, textiles, chemicals, and engineering goods is believed to be the primary reason behind this underperformance.
Several key manufacturing sectors, including dyes, intermediates and chemicals, leather, Active Pharmaceutical Ingredients (APIs), engineering, and plastics, have witnessed a drop in exports.
The combination of these factors has posed challenges for achieving the export credit targets in Gujarat.
National and International Affairs
Need to develop new techniques to audit ‘Blue Economy’: CAG Girish Chandra Murmu
(CAG) Girish Chandra Murmu said that Supreme Audit Institutions should develop new techniques and capabilities to audit marine life or the Blue economy to ensure Sustainable Development.
In order to fulfil their commitment towards sustainability goals in consonance with SDG 14 Life below Water the governments are reorienting policies and regulatory structures to conserve and sustainably use the Oceans, seas and <a href="https://exam.pscnotes.com/marine-Resources“>Marine Resources for sustainable development.
Government imposes stock limits on wheat to prevent hoarding
In order to manage overall and to prevent hoarding and unscrupulous speculation, the government has decided to impose stock limits on wheat for traders, wholesalers, retailers, big chain retailers and processors. The order will be applicable with immediate effect and will be applicable until March 31, 2024.
In order to manage overall food security and to prevent hoarding and unscrupulous speculation, the government has decided to impose stock limits on wheat for traders, wholesalers, retailers, big chain retailers and processors. The order will be applicable with immediate effect and will be applicable until March 31, 2024.
Stock limits will be applicable for each entity individually such as: traders/wholesalers- 3000 tonne; Retailer- 10 tonne for each of the retail outlets; Big Chain Retailer- 10 tonne for each outlet and 3000 tonne at all their depots and Processors – 75 per cent of annual installed capacity.
Further, the centre has also decided to offload 15 lakh tonnes of wheat in the first phase from central pool stock under Open Market Sale Scheme to control retail prices of wheat.
Wheat will be sold in lot sizes of 10-100 tonnes. Registration for this auction is open on the Fci‘s e-auction platform. It has also been decided to offload rice under the open market scheme in order to moderate the prices.
China could potentially have as many ICBMs as U.S. or Russia by turn of decade: SIPRI
The size of Chinas nuclear arsenal increased from 350 warheads in January 2022 to 410 in January 2023, and it is expected to keep growing, according to estimations by Stockholm International Peace Research Institute (SIPRI).
The key finding in SIPRI Yearbook 2023 is that the number of operational nuclear weapons started to rise as countries long-term force modernisation and expansion plans progressed.
According to SIPRI estimates, the nuclear arsenals of India grew from 160 in 2022 to 164 in 2023 and that of Pakistan from 165 to 170.
The nine nuclear-armed states the United States, Russia, the United Kingdom, France, China, India, Pakistan, the Democratic Peoples Republic of Korea (North Korea) and Israelcontinue to modernise their nuclear arsenals and several deployed new nuclear-armed or nuclear-capable weapon systems in 2022
Lower house of Japans Parliament passes bill to promote LGBTQ+ awareness
The powerful lower house of Japan’s parliament on June 13 passed a bill to promote understanding ofLGBTQ+ issuesamid protests by activists that last-minute revisions by Prime Minister Fumio Kishida’s conservative party favoured opponents of sexual instead of guaranteeing equal rights.
Japan is the only member of the Group of Seven leading industrialized nations which does not have LGTBQ+ legal protections.
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