• Admin

UPSC Daily Current Affairs : 16-June-2020

Topic Covered :

  1. India acts tough with Nepal, asks it to create conditions for talks

  2. Unemployment rate declines sharply as India exits lockdown

  3. India has its first gas exchange. What it is, and how it will work

  4. NASA’s Gateway lunar orbiting outpost

  5. ‘Why suspend sex test rules?’ - SC

  6. Van Dhan Yojana


INDIA ACTS TOUGH WITH NEPAL, ASKS IT TO CREATE CONDITIONS FOR TALKS

  • Why in news? India has decided to play hardball with Nepal by accusing its Prime Minister K P Oli of creating a difficult situation and seeking conducive conditions for talks on mutually competing claims over a strip of land on the Indo-Nepal border.


Highlights:

  • The observation comes a day before Nepal’s Upper House will consider a resolution to change the map on the Coat of Arms to include the areas claimed by India as well. The Lower House had unanimously passed the resolution last week.

  • The Indian stand with respect to Nepal is at variance with its attitude to resolving the stand-off with China on the Line of Actual Control (LAC) where it entered into talks with no preconditions.

  • The dispute has not impaired cooperation in other areas. “Our cooperation is multifaceted. The Government of India has remained in the forefront of Covid assistance to Nepal and work is going on integrated check posts and various rail connectivity links besides small developmental projects,” Sources said.


Source : Tribune India ( https://www.tribuneindia.com/news/nation/india-acts-tough-with-nepal-asks-it-to-create-conditions-for-talks-99557 )


UNEMPLOYMENT RATE DECLINES SHARPLY AS INDIA EXITS LOCKDOWN

Why in news?

  • India’s labour market showed surprising strength in the second week of June, restoring many jobs that were lost to the economic upheaval caused by the nationwide lockdown, and offering some substance to the hope that the worst may be over.


Highlights:

  • The national unemployment rate fell sharply to 11.63% in the week ended 14 June from 17.51% in the previous week, bringing the job loss rate closer to the levels prevailing before the lockdown, a survey by the Centre for Monitoring Indian Economy (CMIE) found.

  • The urban unemployment rate at 13.1% is higher than both the rural and overall job loss rate, CMIE said.

  • The lockdown had wiped out the self-employment space, and when the unlocking has picked up, this category of people are going back to earn their livelihood, which is showing in this survey findings

  • Economists and job market experts, however, warned that the improvement is largely because of a growth in casual work and self-employment activities, and should not be interpreted as growth in formal sector jobs. 

  • The lack of decent jobs, experts argue, has the potential to push more people to poverty.


Source : Livemint ( https://www.livemint.com/news/india/unemployment-rate-declines-sharply-as-india-exits-lockdown-11592249924927.html )


INDIA HAS ITS FIRST GAS EXCHANGE. WHAT IT IS, AND HOW IT WILL WORK

Why in news?

  • India’s first gas exchange —the Indian Gas Exchange (IGX) — was launched on Monday. The exchange is expected to facilitate transparent price discovery in natural gas, and facilitate the growth of the share of natural gas in India’s energy basket.


Highlights:

  • The IGX is a digital trading platform that will allow buyers and sellers of natural gas to trade both in the spot market and in the forward market for imported natural gas across three hubs —Dahej and Hazira in Gujarat, and Kakinada in Andhra Pradesh.

  • Imported Liquified Natural Gas (LNG) will be regassified and sold to buyers through the exchange, removing the requirement for buyers and sellers to find each other.

  • This will mean that buyers do not have to contact multiple dealers to ensure they find a fair price.