Gujarat’s cotton output likely to dip
The reduction in area under cultivation is expected to bring down cotton production in Gujarat this year. The cotton output in the state is estimated to hover around 85-90 lakh bales (one bale equals to 170kg) in 2020-21as compared to 95 lakh bales in 2019-20. The cotton acreage in Gujarat dropped 15% to 23 lakh hectares in kharif season this year from nearly 27 lakh hectares last year, shows data compiled by the state agriculture department.
However, there are few who believe that Gujarat’s production may reach 95 lakh bales given the improvement in yield this year when compared with last year.
Meanwhile, the price of benchmark Shankar-6 cotton variety has recently rallied to Rs 39,000 to Rs 40,000 per candy (one candy weighs around 356kg) mainly on the back of good demand from exporters and textile as well as spinning mills.
12th BRICS Summit to be held virtually on November 17
The 12th BRICS Summit will be held on 17th November 2020 via video conference.
The theme of the Meeting of the Leaders of BRICS countries which includes Brazil, Russia, India, China and South Africa is “BRICS Partnership for Global Stability, Shared Security and Innovative Growth”.
The Summit this year is being held under the Chairmanship of Russia and aims at a multifaceted cooperation between the member countries.
The five member countries have continued close strategic partnership on all the three major pillars of peace and security, economy and finance, cultural and people-to-people exchanges.
World Cotton Day: 07 October
The WHO-recognised World Cotton Day (WCD) is observed on 7th October since 2019 to celebrate the international cotton industry and its contribution to communities and the global economy.
The day was inaugurated by the World Trade Organization (WTO) in Geneva on October 7, 2019.
WCD Day was initiated by the Group of Cotton-4 countries namely Benin, Burkina Faso, Chad and Mali to reflect the importance of cotton as a global commodity.
Union Cabinet approves signing of Memorandum of cooperation in field of cyber-security between India & Japan
The cabinet gave its approval for signing a Memorandum of Cooperation (MoC) in the field of cyber-security between India and Japan.
The MoC will enhance cooperation in areas of mutual interest, which includes capacity building in the area of cyberspace, protection of critical infrastructure, cooperation in emerging technologies, sharing information on cyber security threats and malicious cyber activities.
The Cabinet also approved the ratification of seven chemicals listed under Stockholm Convention on Persistent Organic Pollutants (POPs).
The Stockholm Convention is a global treaty to protect human health and environment from POPs, which are identified chemical substances that persist in the environment, bio-accumulate in living organisms, adversely affect human health and have the property of long-range environmental transport.
Centre to urgently release Rs. 20,000 crore as compensation to States for revenue losses
The Centre will urgently disburse nearly 20 thousand crore rupees among the states from the amount collected as compensation cess this year.
Finance Minister Nirmala Sitharaman made the announcement after the 42nd GST Council meet.
The Centre will also disburse Rs. 25 thousand crore towards Integrated GST for 2017-18 to those states that received less amount due to the anomalies.
Also from starting from 1st January next year, taxpayers with less than Rs. 5 crore annual turnover will not be required to file monthly GSTR-1 and GSTR-3B returns.
C-DAC to commission India’s fastest Supercomputer ‘PARAM Siddhi – AI’
The Centre for Development of Advanced Computing (C-DAC) will be commissioning India’s largest HPC-AI supercomputer ‘PARAM Siddhi – AI’.
This initiative will place India among the top countries in global AI supercomputing research and innovation.
The initiative was headed by Abhishek Das, Scientist and Program Director (HPC-AI Infrastructure Development) at C-DAC, who conceived the idea and designed the architecture for the largest HPC-AI infrastructure in India.
This high-performance computing-Artificial Intelligence (HPC-AI) supercomputer is a machine with 210 AI Petaflops (6.5 Petaflops Peak DP).
Government launches API integration between PM SVANidhi Portal and SBI eMudra Portal
The Ministry of Housing & Urban Affairs will integrate the application programming interface (API) between SVANidhi portal and various banks to expedite loan sanctioning and disbursement process under Modi government’s PM SVANidhi scheme for nano entrepreneurs.
To begin with, the ministry launched the API integration between the PM SVANidhi portal and SBI’s eMudra portal.
This integration will facilitate seamless flow of data between the PM SVANidhi Portal and SBI’s eMudra Portal in a secure environment.
It will expedite the loan sanctioning and disbursement process, to benefit the street vendors seeking a working capital loan under the Scheme.
Ministry would perform similar integration with other banks as well for which a consultative meeting will be held shortly.
Govt to launch e-mart for artisans, digital monitoring for ‘Van Dhan start-ups’
With the pandemic leaving many without work, the government is all set to launch an e-marketplace by July end to host around 5000 tribal artisans to begin with. The government sees this e-mart as a way to create an independent online space of artisans to put out their products that have been wasting away in the absence of buyers.
The government commissioned on trial a website that will give all details, statistics and real-time information of the VDVKs and also enable GPS linkages to connect those executing the activities in the villages to those monitoring the scheme in the states and in the central government. After the trial run till June 30, a formal launch is expected.
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