GOA
Goa in need of immediate strategy to repay its debt, says CAG report
The Comptroller and Auditor General of India (CAG), in its report for 2017-18, said that the Goa government needs to formulate a proper borrowing-repayment strategy to avoid falling into a debt trap.
While acknowledging Goa’s efforts towards fiscal responsibility, the CAG said 52% of Goa’s outstanding debt is expected to come up for repayment by 2026 which will put a strain on the government.
The CAG report for 2017-18 was tabled in the state legislative assembly on Friday.
While the CAG report noted that Goa’s fiscal deficit stood at 2.29% in 2017-18, it noted that outstanding liabilities of the state increased from Rs 12,695 crore in 2013-14 to Rs 18,552 crore in 2017-18. According to the latest government figures, Goa’s public debt has crossed Rs 20,000 crore.
INTERNATIONAL
India ranked fifth-biggest geopolitical risk of 2020 by Eurasia Group
Eurasia Group reported that India is one of the world’s top geopolitical risks for 2020. The political risk consultancy India under Prime Minister Narendra Modi was listed as the fifth biggest geopolitical risk of 2020.
Eurasia Group is one of the United States’ most influential risk assessment companies.
The report said that the Indian PM Narendra Modi has spent much of his second term to promote the controversial social policies, include the revocation of the special status for Jammu and Kashmir through an Act, at the expense of an economic agenda.
It also highlighted that the impacts will be shown in 2020, with intensified communal and sectarian instability, foreign policy and economic setbacks.
The list was topped by-elections in the US and followed by events and developments like the US-China technology tug of war on 5G and the trade war between China and the US.
NATIONAL
India’s first indigenous aircraft carrier Vikrant likely to be commissioned by 2021
The manufacturing of the country’s first indigenous aircraft carrier Vikrant is currently under phase three.
It is likely to be commissioned by early 2021.
This carrier is being built at the Cochin Shipyard Limited (CSL) in Kochi.
Navy Chief Admiral Karambir Singh on December 3 had said that Vikrant will be fully operational by 2022 and it will have a fleet of MiG-29K aircraft.
Access to Internet is a fundamental right
The Supreme Court has declared access to the internet a fundamental right.
A government cannot deprive the citizens of fundamental rights except under certain conditions explicitly mentioned in the Constitution.
The ruling came on hearing of a plea in connection with Internet blockade in Jammu and Kashmir since August 5 in the view of revoking of Article 370 in the Union Territory.
Indian constitution makes the right to freedom of speech and expression a fundamental right for all citizens. It has been listed in Article 19 (1)(a) of the Constitution.
Famous chariot festival of Suchindram Thanumalayan Temple started in Tamil Nadu
The famous chariot festival of the Suchindram Thanumalayan Temple, the southernmost major temple in Tamilnadu, is being held with great camaraderie and devotion.
The ten-day annual festival is held in the Tamil month falling in December – January.
The temple is especially significant because it is sacred to both the Shaivite as well as Vaishnavite sects.
This 17th-century temple is famous for its architectural grandeur.
There is an Anjaneya statue, which is 22 feet tall and is carved out of a single granite block. It is said to be one of the tallest statues of its type in India.
Ministry of Steel to launch of Purvodaya, an Integrated Steel Hub
Ministry of steel in partnership with Confederation of Indian Industry (CII) and JPC is organizing the launch of Purvodaya-Accelerated Development of Eastern Region through an Integrated Steel hub at The Oberoi Grand Kolkata, West Bengal. The hub will be launched by the Union Minister for Petroleum & Natural Gas and Steel Shri Dharmendra Pradhan. The hub is in line with the Prime Minister’s Vision for the focused development of the Eastern States.
Purvodaya will be a world-class steel hub. It would significantly contribute to propelling socio-economic development in the Eastern region.
Steel capacity addition will entail capital investments of >$70 Bn and lead to an incremental GSDP of >$35 bn through steel alone.
It is expected that the growth of the steel industry through such a hub will generate over 2.5 Million jobs in the region.
The creation of world-class logistics and utility infrastructure will spur the development of other manufacturing industries across many sectors in the state.
AAI reported that 4 Indian airports received international recognition
The Airports Authority of India (AAI) has announced 4 airports in India have received international recognition for reducing carbon emission. The airports had adopted the grading system in 2018 as per ACI.
The airports have transited from level 1 to level 2 as they successfully implemented a carbon emission plan by grading their systems according to the Airports Council International (ACI) in 2018.
The four airports are:
1) Netaji Subhas Chandra Bose International Airport, Kolkata
2) Biju Patnaik International Airport, Bhubaneswar
3) Lal Bahadur Shastri International Airport, Varanasi
4) Trivandrum International Airport
AAI data reported that the CO2 emission in the airports during the years 2015,16,17,18 witnessed a decrease in emission despite an increase in air traffic.
It also met the 4 grading systems of ACI namely mapping, reduction, optimization, and neutrality.
The 4 airports met all the necessary requirements to upgrade to level 2 as per the Airport Carbon Accreditation (ACA) Program.