- Power companies to get Rs 1.9 lakh crore benefit from Gujarat bailout
- Two consumer-interest NGOs, the original applicants in the 2017 Supreme Court case challenging tariff hike allowed to Tata, Adani and Essar group power plants in Gujarat, have told the apex court that the bailout package recommended by a state government panel would extend Rs 1.9 lakh crore benefit to the power producers at the cost of consumers.
- The financial distress of power plants can be resolved through the Insolvency and Bankruptcy Code mechanism in the best interest of all stakeholders.
- The NGOs have said opening a special window for the three projects established in a particular state will send a wrong signal and have a cascading impact on all PPAs signed across the country based on tariff-based bidding.
- Invest India wins UN Investment Promotion Award
- Invest India has received the top UN Investment Promotion Award in recognition of its efforts to boost investments in the renewable energy sector in India.
- The Investment Promotion Awards, organized by UNCTAD, honors Investment Promotion Agencies and their governments for their achievements.
- The Awards have been given annually since 2002 as part of UNCTAD’s investment promotion and facilitation programme.
· Xi inaugurated world longest sea bridge
- Xi Jinping, Chinese President inaugurated a 55-km, world’s longest sea-crossing bridgeHong Kong-Macau-Zhuhai Bridge (HMZB).It will deepen the integration of Hong Kong and Macao with the rest of China.
- The world’s longest sea-crossing bridge will be at the heart of an integrated Greater Bay Area (GBA)covering 11 major neighbouring cities, which include Hong Kong, Macao, Guangzhou and Shenzhen. The giant GBA comprises of 68 million people.
· SC announced ban on toxic and loud firecrackers
- Supreme Court judgmentdeclared a ban on toxic and loud crackers during Deepavali. The ban has been declared to avoid the air pollution caused due to the burning of firecrackers which in turn deterioration of air quality.
- The Bench acknowledges that there is a necessity to tackle the other contributory factors for air pollution. Unregulated construction activity which generates a lot of dust and crop burning in the neighbouring States are the two other major reasons. Vehicular pollution is also another cause.
· Federation opposes Higher Education Commission of India Bill
- Members of All India University Employees Federation have demanded that the University Grants Commission(UGC) be continued. The federation had strongly opposed the Union government’s draft Bill on setting up a Higher Education Commission of India (HECI). There are issues with the existing UGC that need to be addressed but not by replacing it with another body.
- The federation is to discuss the HECI Bill at the All India University Employees Confederation’s 13th conference to be held at Professor Jayashankar Telangana State Agricultural University from October 26 to October 28.
· M.S.Swaminathan receiving the first World Agriculture Prize
- S.Swaminathan, an Agricultural scientist, will be receiving the first World Agriculture Prize instituted by the Indian Council of Food and Agriculture (ICFA) in New Delhi. The award carries a cash component of $1,00,000.
- Swaminathan has been hailed by the United Nations Environment Programme(UNEP) as ‘The Father of Economic Ecology’. He is Recognised worldwide for his basic and applied research in genetics, cytogenetics, radiation and chemical mutagenesis, food and biodiversity conservation. He is been awarded for his commitment towards the ever-green revolution movement in agriculture.
· Haryana girl Nishtha Dudeja won Miss Deaf Asia 2018 crown
- Nishtha Dudeja is the first Indian to have won any title at the Miss Deaf World Pageant.
- She is the brand ambassador for Sivantos India Pvt Ltd. (Formerly Siemens hearing Instruments Pvt Ltd.), the world’s leading brand of hearing aids.
· Creation of Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
- The Cabinet Committee on Economic Affairs chaired by the Prime Minister Shri Narendra Modi has given its approval for creation of special Fisheries and Aquaculture Infrastructure Development Fund (FIDF).
- The approval entails an estimated fund size of Rs.7,522 crore, comprising Rs.5,266.40 crore to be raised by the Nodal Loaning Entities (NLEs), Rs. 1,316.6 crore beneficiaries contribution and Rs.939.48 crore budgetary support from the Government of India.
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