www.tnpsc.academy – TNPSC Current Affairs April 03, 2019

www.tnpsc.academy – TNPSC Current Affairs April 03, 2019 (03/04/2019)

Topic: World Organization, Reports and Summits, Latest Diary of events

Global Report on Food Crises 2019

It is a report released jointly by the Food and Agriculture Organization (FAO), World Food Programme (WFP) and EU.

Key Facts:

According to the report, nearly two-thirds of those facing acute hunger come from just eight countries: Afghanistan, the Democratic Republic of the Congo, Ethiopia, Nigeria, South Sudan, Sudan, Syria and Yemen.

Climate and natural disasters pushed another 29 million people into acute food insecurity in 2018 and that number excludes 13 countries – including North Korea and Venezuela – because of data gaps.

Concerns:

Despite a slight drop in 2018 in the number of people experiencing acute food insecurity – the most extreme form of hunger – the figure is still far too high.

Need of the hour:

We must act at scale across the humanitarian-development-peace nexus to build the resilience of affected and vulnerable populations. To save lives, we also have to save livelihoods.

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Topic: Economic Policies in India, Latest Diary of Events

Ways and Means Advances (WMA)

The Reserve Bank of India (RBI) in consultation with the government of India has set the limits for Ways and Means Advances (WMA) for the first half of the financial year 2019-20 (April 2019 to September 2019) at Rs 75000 crore.

What is WMA?

The Reserve Bank of India gives temporary loan facilities to the centre and state governments as a banker to government. This temporary loan facility is called Ways and Means Advances (WMA).

The WMA for the Central Government:

The WMA scheme for the Central Government was introduced on April 1, 1997, after putting an end to the four-decade old system of adhoc (temporary) Treasury Bills to finance the Central Government deficit.

The WMA scheme was designed to meet temporary mismatches in the receipts and payments of the government. This facility can be availed by the government if it needs immediate cash from the RBI. The WMA is to be vacated after 90 days. Interest rate for WMA is currently charged at the repo rate. The limits for WMA are mutually decided by the RBI and the Government of India.

WMA Scheme for State Governments:

Under the WMA scheme for the State Governments, there are two types of WMA – Special and Normal WMA.

Special WMA is extended against the collateral (mortgaging) of the government securities held by the State Government.

After the exhaustion of the special WMA limit, the State Government is provided a normal WMA. The normal WMA limits are based on three-year average of actual revenue and capital expenditure of the state. The withdrawal above the WMA limit is considered an overdraft.

A State Government account can be in overdraft for a maximum 14 consecutive working days with a limit of 36 days in a quarter. The rate of interest on WMA is linked to the Repo Rate. Surplus balances of State Governments are invested in Government of India 14-day Intermediate Treasury bills in accordance with the instructions of the State Governments.

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Topic: India’s Foreign Policy, Latest Diary of Events

US approves sale of 24 MH 60 helicopters to India

The MH-60 Romeo Seahawk helicopter is considered to be the world’s most advanced maritime helicopter.

Built by Lockheed Martin, the helicopters are designed to hunt down submarines, as well as knock out ships and conduct search-and-rescue operations at sea.

They will provide the Indian defence forces with the capability to perform anti-surface and antisubmarine warfare missions along with the ability to perform secondary missions including vertical replenishment, search and rescue and communications relay.

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Topic: Indian Army, Places in News, Latest Diary of Events

Indian Army built longest suspension bridge at Leh

The Indian Army has successfully built the longest suspension bridge ‘Matiri Bridge’ over the Indus River in the Leh-Ladakh region.

Suspension Bridge constructed over Indus River by Combat Engineers ‘Fire & Fury Corps’. The 260-feet long suspension bridge was built in a record time of 40 days.

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Topic: Profile of States, General Administration, Latest Diary of Events

Tamil Nadu Lokayukta

The governor of Tamil Nadu has appointed retired High Court Judge P.Devadass as the chairperson of the five member Tamil Nadu state Lokayukta.

Key facts:

Tamil Nadu state Lokayukta is a five-member body – A chairman and two judicial and non-judicial members each.

The chairperson and the members shall hold office for five years from the day they enter the office or the date on which they attain the age of 70 years, whichever is earlier.