GUJARAT

Bank loans to small businesses for exports dip by 40% in Gujarat

Businessmen have raised concern over fall in bank credit for exports in Gujarat. The bank credit to small businesses for exports have registered a fall of about 40 per cent in 18 months, according to a report by State Level Bankers Committee (SLBC).

A segment in the industry interprets this as an indication of a fall in exports from the state. However, bankers say the figures do not represent the export credit to large corporates in Gujarat and therefore are only a part of the picture.

According to a recent SLBC report in June 2018, Gujarat recorded export credit of Rs 6,644 crore — a drop of about about 5 per cent compared to Rs 7,026 crore in December 2016. However, bank loans to Micro Small and Medium Enterprises (MSMEs) for exports dropped by a whopping 40 per cent to Rs 2,031 crore.

INTERNATIONAL

India extends $200 million credit lines to Rwanda

India has extended $200 million lines of credit to Rwanda as Prime Minister Narendra Modi held wide-ranging talks with President Paul Kagame and discussed measures to strengthen cooperation in trade and agriculture sector.

After the one-on-one talks with president Kagame, Modi announced that India will soon open its mission in Rwanda.

The two countries signed agreements on leather and allied areas and agricultural research.

MoU with UK for Improving Public Transport System

The Government has signed a Memorandum of Understanding (MoU) with United Kingdom for seeking help in improving overall public transport system in the country.

The MoU has been signed between the Ministry of Road Transport & Highways and Transport for London (TFL), a statutory body established under the Greater London Authority Act, 1999 (UK) to improve public transport in India.

The MoU would help mainly in sharing of information and areas of cooperation like improving the public transport system with an augmentation of passenger capacity, passenger services, data analysis, induction of electric vehicles, introduction of technology, ticketing and the provision of passenger information.

· Tokyo introduced mascots for 2020 Olympic Games

TheTokyo 2020Olympic Organising Committee launched the official Olympic Game mascot named ‘Miraitowa‘ and Paralympic Game mascot christened ‘Someity‘.
A big-eyed, blue-checked character “Miraitowa” name was a combination of the Japanese words for future and eternity, expressing “hope for a bright future stretching off forever.”
The pink, pointy-eared “Someity” name comes from the word for Japan’s iconic cherry blossoms and also sounds a bit like the English words “so mighty”.
The next Olympic Games will be held in Tokyo between July 24 and August 9, 2020 and Paralympic Games from August 25 to September 6, 2020.

· Japan passed law to legalise casino gambling

Japan’s parliament has passed the Integrated Resort(IR) bill which will lead to the opening of the country’s first legal casino. As per the bill, the casinos will be restricted to three locations in the initial phase.
Amid concerns about gambling addiction, the law limits Japanese citizens to three casino visits per week and 10 per month, and charged admission of 6000 yen($53.4) per day.

· Iran becomes India’s second largest oil supplier

Iran has overtaken Saudi Arabia to be the second largest supplier of crude oil to Indian public sector firms during April-June quarter. Iraq remains India’s No:1 supplier of crude.
State firms that buy oil from Iran include Mangalore Refinery and Petrochemicals Ltd (MRPL), Indian Oil Corp (IOC) and Hindustan Petroleum Corp Ltd (HPCL).
New Delhi shipped in 27 million tonnes of oil from Iraq, while shipments from Saudi Arabia totalled 5.22 million tonnes.

· Pakistan appointed its first woman high court chief justice

Justice Tahira Safdar(61 years old) was named as the Chief Justice of the Balochistan High Court by Chief Justice Mian Saqib Nisar. She replacing Mohammad Noor Muskanzai.
She made history in 1982 when she became the first woman civil judgein Balochistan.

NATIONAL

· India has become a popular hub of medical tourism

India has become a popular hub of medical tourism, attracting a large number of foreign patients every year. The reason behind such happening is a rare combination of advanced facilities, skilled doctors, and low cost of treatment.
India currently has around 18%of the global medical tourism market. It has been estimated that by 2020, it could be worth $9 billion, and account for 20% of the global market share.

Government set up high level committee to check mob lynching

Government is concerned at the incidents of violence by mobs in some parts of the country.

Government has set up a high level committee chaired by the Union Home Secretary Rajiv Gauba to deliberate in the matter and make recommendations.

The Secretary, Department of Justice, Secretary, Department of Legal Affairs, Secretary, Legislative Department and Secretary, Social Justice and Empowerment are the members of the committee.

The committee will submit its recommendations to the Government within four weeks.

· Women and Child Development Ministry to move proposal to amend POCSO Act

Protection of Children from Sexual Offences (POCSO) Act, 2012 – for enhancing punishment in cases of sexual assault against young boys, will be sent to the Cabinet in two-three days by Women and Child Development (WCD) Ministry.
As per this Act, death penaltywill be awarded to those convicted of raping children below 12 years.

· Govt reduced minimum yearly deposit for Sukanya Samriddhi account

The government has slashed the minimum annual deposit requirement for accounts under the Sukanya Samriddhi Yojana (SSY) to Rs 250 from Rs 1,000. The maximum amount that can be deposited in a year isRs 1.5 lakh.
Sukanya Samriddhi scheme was launched in January 2015, under which a parent or legal guardian can open an account in the name of the girl child until she attains the age of ten years.
The account opened under the scheme will be valid for 21 years from the date of opening, after which it will mature and the money will be paid to the girl child in whose name the account is opened.

· Mumbai to get ‘skyscraper bridge’ connecting Worli to Sewri

This is the first bridge in Mumbai to be built at a height of 32m (the height of a 10-storey building) and at 4.5-km-long. This bridge costs around ₹1,500 crore and aims to connect the Bandra-Worli sea link to the Mumbai trans-harbour line at Sewri.
Five agencies- the Brihanmumbai Municipal Corporation (BMC), MMRDA, Maharashtra Housing and Area Development Authority, Mumbai Port Trust and Slum Rehabilitation Authority- will be involved in planning and execution. The aim is to complete it by mid-2022.

· Lok Sabha passed NCTE (Amendment) Bill

The Lok Sabha passedthe National Council for Teacher Education (Amendment) Bill to post-facto approval to Central/State institutions that are conducting teacher education courses without NCTE approval.
HRD Minister Prakash Javadekar said that it has been done as a one-time measure to ensure the benefit of the students who have appeared for B.Ed, M.Ed and various other exams in institutes that are not recognised. He also said that there are also plans to start an integrated four-year B.A.-B.Ed, B.Sc.-B.Ed and B.Com-B.Ed courses to benefit the students.

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