KARNATAKA

· Karnataka Cabinet approved a grant of Rs.8,037.87 crore for development works

ð The Karnataka State Cabinet approved a grant of Rs.8,037.87 crore for the development works in the city under the Chief Minister’s Nava Bengaluru Scheme.

ð The funds will be released over the next three years and the works will be executed by the Bruhat Bengaluru Mahanagara Palike (BBMP). Nearly 40% of the total grant is for roadworks while the rest will go towards lake development, solid waste management, land acquisition, and various infrastructure projects.

ð Of the Rs.8,037.87 crore, Chief Minister H.D. Kumaraswamy had announced an allocation of Rs.2,500 crore in the Budget presented in July 2018 for the 2018-19 fiscal. A total of Rs.2,200 crore will now be allotted to the BBMP.

INTERNATIONAL

· Israel permits medical marijuana exports

Israel’s Parliamentapproved a law to permit exports of medical marijuana, allowing Israel to tap the lucrative global market. Israel will become the third country, after the Netherlands and Canada, to take its medical cannabis global. The Israeli Cabinet is yet to approve. This step is seen as a formality.
iCAN,the Israeli medical cannabis company, said that the global industry will reach $33 billion in the next five years, as stigma fades and demand grows for the few countries certified to export.
The law was approved on25th December 2018, sending cannabis company shares rising by about 10%.The law was stalled for years over fears from security officials that medical marijuana would leak into the black market. To assuage concerns, the law empowers police to supervise licensing.

NATIONAL

National Farmers Day : 23 December

India celebrates National Farmers Day on 23rd December to commemorate the birth anniversary of the 5th Prime Minister of India, Choudhary Charan Singh.

Choudhary Charan Singh served as the Prime Minister of India between 28 July 1979 and 14 January 1980. He is often referred to as the ‘champion of India;s peasants’.

PM to inaugurate country’s longest rail-cum-road Bogibeel Bridge

Prime Minister Narendra Modi will inaugurate India’s longest rail-cum-road bridge

Bogibeel Bridge on the Brahmaputra in Assam.

The 4.9 kilometre long bridge has a two-line railway track on the lower deck and a three-lane road on the top deck. The Bridge is situated 17 km downstream of Dibrugarh city in Assam.

The Bogibeel bridge, constructed at an estimated cost of around 5,900 crore rupees, has a serviceable period of around 120 years.

Bogibeel bridge, will become Asia’s second longest rail-cum-road bridge.

The bridge will enhance the national security of the eastern region by facilitating swift movement of defence forces and their equipment. It will also boost connectivity for around 50 lakh people residing in Upper Assam and Arunachal Pradesh.

Birth anniversary of Atal Bihari Vajpayee being celebrated as Good Governance Day

Bharat Ratna and former Prime Minister Atal Bihari Vajpayee’s birthday is being celebrated as Good Governance Day across the country on 25 December.

The Samadhi of Bharat Ratna and Former Prime Minister Atal Behari Vajpayee – Sadaiv Atal was dedicated to the Nation by Prime Minister.

The Samadhi has been completed by CPWD at a cost of over ten crore rupees and the entire cost of construction has been borne by the Atal Smriti Nyas Society.

· Indias Forex Reserves declined by USD 613.9 million to USD 393.12 billion

India’s foreign exchange reserves declined in this week by USD 613.9 millionreaching USD 393.12 billion.
This decline attributed to the fall.
The Forex reserves increased by USD 16.6 million to reach USD 393.734illion in the previous week.
The foreign reserves are the reserve assets held by a central bank in foreign currencies.
The components of India’s FOREX Reserves include Foreign currency assets (FCAs), Gold Reserves, Special Drawing Rights (SDRs) and RBI’s Reserve position with International Monetary Fund (IMF). FCAs constitute the largest component of Indian Forex Reserves and are expressed in US dollar terms.

· Mission Indradhanush: Indias immunisation growth rate since launch rises to four per cent

In December 2014, Mission Indradhanush was launched for a targeted approach to immunisation in India, in a bid to change the tardy annual growth rate of 1 per cent.
Between 2014 and 2018, India’s annual immunisation growth rate has risen to 4 per cent, with an unprecedented 16 per cent rise in the number of fully immunised children.
The word Indradhanush was chosen to represent the seven vaccines that were subsequently included in the Universal Immunization Program against these seven diseases – tuberculosis, poliomyelitis, hepatitis B, diphtheria, pertussis, tetanus and measles.

MSME Ministry for setting up governing council to boost exports

The MSME Ministry has proposed to establish a governing council to ensure efficient delivery of all export-related interventions as part of its action plan to boost shipments from micro, small and medium enterprises.

The ministry has recommended a detailed analysis of various trade agreements, including FTAs and bilateral and multilateral trade agreements, to identify areas of concern for MSMEs in the strategic action plan titled ‘Unlocking the Potential of MSME Exports’.

A study will be conducted of special economic zones and export promotion zones in the country to reassess their role and objectives as these are an essential constituent of Foreign Trade Policy and it is important to harness their potential.

It shall comprise senior officials and members from MSME Ministry, Commerce Ministry, MSME Export Promotion Councils, Export Development Authorities, Commodity Boards, etc.

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