- New crop insurance scheme gets govt nod
- The state cabinet gave its nod to the Bihar State Crop Assistance Scheme which will replace the existing system of crop insurance with effect from kharif (monsoon) season this year. Sources said once the new scheme comes into effect, farmers would be paid a compensation of Rs 7,500 per acre if less than 20% of the standing crop is damaged and Rs 10,000 if the damage is more than 20%.
- The cabinet also gave its nod to a proposal seeking increase in the ex gratia amount for persons from Bihar in central paramilitary forces and those of other states deployed in Bihar, who are martyred in naxal violence, from Rs 5 lakh at present to Rs 11 lakh.
- India among the top five countries generating e-waste
- Despite the government’s emphasis on Swachch Bharat Abhiyaan and Smart Cities project, India continues to be among the top five countries generating e-waste, an ASSOCHAM-NEC recent study said.
- The other countries topping the chart of e-waste generation are China, USA, Japan and Germany.
- The study was published coinciding with “Environment Day” (June 5).
- In India, Maharashtra contributes the largest e-waste of 19.8 per cent.
- E-waste generated in India is about 2 million TPA, the quantity that is recycled is about 438,085 TPA.
- E-waste typically includes discarded computer monitors, motherboards, Cathode Ray Tubes (CRT), Printed Circuit Board (PCB), mobile phones and chargers, compact discs, headphones etc.
· Maharashtra Government announces financial aid for tur farmers
- Maharashtra government will provide a financial grant of 1,000 rupees per quintal to those farmers whose tur and gram could not be purchased by the administration before the May 31 deadline.
- The state government had set up tur procurement target of 44.6 lakh quintals.
- The government had started purchasing tur from farmers by offering them guaranteed rates following bumper tur production.
- Speaking to reporters after a weekly cabinet meeting, Chief Minister Devendra Fadnavis said the government will also give a financial aid of 160 crore rupees to farmers whose crops got damaged due to unseasonal rain or hailstorm.
- The chief minister also announced a special subsidy for milk producers.
· Union Government forms 3 key panels for museum of Prime Ministers Project
- In a major push towards setting up a unique museum in Delhi on the ‘Prime Ministers of India’, the Culture Ministry formed three high-powered panels that will work to implement the project.
- The three committees, one will focus on project implementation, while the other two will concentrate on choice and development of content for the one-of-its-kind museum.
- The Ministry planning to set up a modern museum that will tell the story of all the Prime Ministers of the country at the premises of the iconic Teen Murti Estate, which was the official residence of first Prime Minister Jawaharlal Nehru.
· Reserve Bank of India to announce its second bi-monthly Monetary Policy of 2018-19
- The Reserve Bank of India (RBI) will announce its second bi-monthly Monetary Policy of 2018-19.
- The Monetary Policy Committee, headed by RBI Governor Urjit Patel, began its meeting in Mumbai on Monday, and it will meet today as well before the policy will be announced.
- This is the first time the six-member committee is meeting for three days instead of the usual two, due to certain administrative exigencies.
- In the first bi-monthly policy of the current fiscal, the central bank had, in April, kept all its key rates unchanged for the fourth time in a row.
- The repo rate, at which RBI lends short-term money to other banks, currently stands at 6 percent, while the reverse repo rate, at which it borrows from banks, is 5.75 percent.
- The last rate hike was announced by RBI in January 2014 when the repo rate was increased to 8 percent.
- Since then, the apex bank has either reduced the rate or maintained status quo.
· Union Government announces Rs. 8,000-Crore Package for Sugarcane Farmers
- The Union government announced a package of more than Rs 8,000 crore aimed to provide relief to sugarcane farmers and to clear their dues. According to a government official, the package includes three elements. A buffer stock of 30 LMT (lakh metric tonnes) of sugar will be created with Rs 1,200 crore.
- This money will be directly transferred to accounts of sugarcane farmers. Rs 4,400 crore will be used to increase ethanol production to divert sugarcane away from sugar mills which are unable to dispose of their inventories. The government has also decided to ensure a minimum sale price of Rs 29/kg for sugar.
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