- With its debt increasing faster than GSDP, state needs to borrow more
- The debt of Haryana is increasing at a higher rate than its gross state domestic product (GSDP) so the state has to borrow more to maintain its debt portfolio.
- The public debt of the state government increased from Rs 60,294 crore in 2013-14 to Rs 1.39 lakh crore in 2017-18, registering an increase of 131.79 per cent during 2013-18.
- The rate of increase ranged between 12.16 per cent and 43.40 per cent from 2013-14 to 2017-18, said the CAG report.
- The debt of power companies was Rs 34,600 crore as on September, 2015. Haryana took debt of Rs 25,950 crore in 2014-15, Rs 17,300 crore in 2015-16 and Rs 8,650 crore in 2016-17.
- The ratio between debt and GSDP was 15.10 per cent in 2013-14, which reached 22.97 per cent in 2017-18. It reflected that the debt of Haryana was increasing at a higher pace than GSDP
- The percentage of interest payments on debt to revenue receipt increased from 13.02 per cent to 17.04 per cent from 2013-14 to 2017-18.
- The state disbursed new loans of Rs 200 crore and recovered only Rs 7 crore during 2017-18, resulting in total outstanding loans of Rs 2,303 crore as on March 31, 2018. The loans were sanctioned to sugar mills without ensuring fulfilment of conditions of earlier loans.
· SpaceX Falcon 9 launched Israels Amos 17 telecommunications satellite
- The SpaceX Falcon 9 rocketlaunched Israeli telecommunications satellite called Amos-17 at Cape Canaveral Air Force Station in Florida. The satellite was launched successfully into the geosynchronous transfer orbit.
- The launch was a makeup launch for Spacecom when a SpaceX Falcon 9 rocket exploded on the launch pad in 2016. Amos-17 has been designed to provide enhanced voice, video and data services to customers in Africa and parts ofEurope, the Middle East, India and China.
- Before AMOS 17, Spacex launched the Europe’s Arianespace consortium withtwo satellites from its spaceport in the South American country of French Guiana using its heavy-lift Ariane 5 rocket.
- The second satellite called EDRS-C is part of an effort led by the European Space Agency and Airbus to facilitate high-speed laser communications between orbiting satellites and ground stations.
- Quit India Movement Day: 08 August
- The Quit India Movement was a movement launched at the Bombay session of the All-India Congress Committee by Mahatma Gandhi on 8 August 1942.
- On this day the Congress adopted the historic ‘Quit India Resolution’ which declared among other things that the immediate ending of the British rule in India was an urgent necessity.
- On the same Gandhi made a call to Do or Die in his Quit India speech delivered in Bombay at the Gowalia Tank Maidan.
- It is also known as August Movement or August Kranti.
- RBI to set up a central registry for tracking frauds in payment systems
- The Reserve Bank of India has decided to set up a Central Payment Fraud Registry to track frauds in the payment systems.
- Payment system participants will be provided access to this registry for near-real-time fraud monitoring.
- The aggregated fraud data will be published to educate customers on emerging risks.
- Currently, banks report all banking frauds to the Central Fraud Monitoring Cell of the Reserve Bank.
· Reserve Bank of India Expands biller categories for Bharat Bill Payment System
- The Reserve Bank of Indiaallows all categories of billers to accept prepaid recharges under the Bharat Bill Payment System (BBPS). The BBPS currently covers billers in five segments, DTH, electricity, gas, telecom and water bills.
- The regulator is expected to issue detailed instructions in this regard by the end of September 2019. The advantages of the BBPS and harness its full potential decided to permit all categories of billers (except prepaid recharges) who provide for recurring bill payments to participate in BBPS on a voluntary basis.
- Apart from digitization of cash-based bill payments, it will enable standardized bill payment experience, centralized customer grievance redressal mechanism, and standardized customer convenience fee. The regulator allowed on-tap authorization of retail payment systems to companies looking to function as BBPOU, TReDS and white-label ATMs.
· RS passed the National Institute of Design Amendment Bill
- Rajya Sabhapassed the National Institute of Design (Amendment) Bill, 2019. It was introduced by Commerce and Industry Minister Piyush Goyal. The Bill sought to amend the National Institute of Design Act, 2014.
- The Bill declaresfour National Institutes of Design, from states namely Andhra Pradesh, Madhya Pradesh, Assam, and Haryana, as institutions of national importance.
- These institutes were registered as Societies under the Societies Registration Act, 1860. These institutes do not have the power to grant degrees or diplomas. As the four institutes are now declared institutions of national importance, the institutes will be allowed to grant degrees and diplomas.
· India gets its first Buddhist dominated Union Territory after Jammu and Kashmir Bifurcation
ð India’s arid mountainous desert region called Ladakh granted an identity sets it apart geographically, administratively and demographically.India’s first Buddhist dominated union territory with a dominant Buddhist population of 1.33 lakh out of a total of 2.74 lakh.The distinction is similar to that of Punjab have a predominant Sikh population, which comprises 57.69% of its total population.Chandigarh and Ladakh will not have a legislative assembly will fall directly under Central command.Ladakh strategically important with India and China. Bharatiya Janata Party member of Parliament (MP) from Ladakh Jamyang Tsering Namgyal pointed out how the region left out of all development initiatives by its Buddhist population to past Indian administrations. In 1948, the president of the Ladakh Buddhist Association requested Pandit Jawaharlal Nehru to either bring Ladakh directly under central administration or make it a part of East Punjab no condition keep Ladakh with Kashmir.
· P.V. Sindhu among Forbes 2019 list of worlds highest-paid female athletes
- India’s badminton star V. Sindhu is the only athlete from the country to be named among the world’s highest-paid female athletes by Forbes, a list topped by tennis great Serena Willams. Sindhu is tied for 13th placein The Highest-Paid Female Athletes 2019 list released by Forbes. She secured total earnings of $5.5 million, She became the first Indian to win the season-ending BWF World Tour finals in 2018
The list of the world’s top 15 female athletes is topped by Williams
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