TELANGANA
Centre grants T addl borrowing limit of Rs 2.5k cr
Reeling under the Covid-induced economic slowdown, the state has raised Rs 34,000 crore so far in the form of bonds. On Sunday, the state was sanctioned an additional borrowing limit of Rs 2,508 crore by the Centre.
The state government had feasibility to raise the upper cap limit to Rs 45,000 crore for a year. With the permission to borrow an additional Rs 2,508 crore, the limit will increase to Rs 47,508 crore. This would mean that the state had the limit to raise just Rs 13,508 crore this financial year. The state is borrowing such a huge loan amount for the first time due to the economic slowdown. “The loans are being taken with a long-term repayment schedule of 10 years to 20 years, it is not very alarming, but the financial condition has to be improved,” said sources.
The permission to borrow extra was granted to five states— Telangana, Andhra Pradesh, Karnataka, Madhya Pradesh and Tamil Nadu— as these states have completed the stipulated reforms in Ease of Doing Business. The neighbouring AP was sanctioned an additional borrowing limit of about Rs 3,000 crore.
As per rough estimates, the state had lost about Rs 1,700 crore income per day. This had led to a serious economic slowdown.
INTERNATIONAL
Boeing announces Super Hornet demonstrated compatibility with Indian carriers
American aviation giant Boeing announced that its F/A-18 Super Hornet fighter has demonstrated compatibility with India’s aircraft carriers between the U.S. and India.
The F/A-18 Block III Super Hornet would not only provide superior war-fighting capability to the Indian Navy but also create opportunities for cooperation in naval aviation between the U.S. and India.
F/A-18 can also interface with the Navy’s P-8I as a “force multiplier” and also with other platforms under induction.
NATIONAL
Centre and WB sign USD 500 million project to build Green National Highway Corridors
The Centre and the World Bank signed a USD 500 million project to build safe and green national highway corridors in Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh.
The project will also enhance the capacity of the Ministry of Road Transport and Highways in mainstreaming safety and green technologies.
The Green National Highways Corridors Project will support the Road Transport and Highways Ministry to construct 783 kilometres of highways in various geographies by integrating safe and green technology designs such as local and marginal materials, industrial byproducts and other bioengineering solutions.
The project will help reduce GHG emissions in the construction and maintenance of highways.
Positive Pay system for Cheques
The Reserve Bank of India (RBI) has decided to introduce a new rule for cheque payments from January 1, 2021.
It is called ‘positive pay system’ for cheques, under which re-confirmation of key details may be needed for payments beyond Rs 50,000.
Availing of this facility would be at the discretion of the account holder.
However, banks may consider making it mandatory in case of cheques for amounts of Rs 5 lakh and above.
Rafael Nadal wins Stefan Edberg Sportsmanship Award
Former world number one tennis player Rafael Nadal bagged the Stefan Edberg Sportsmanship Award for the third year in a row and fourth time in his career at the ATP Awards
Nadal, who won a record-stretching 13th Roland Garros title at the French Open this year, was voted for the award by fellow players.
World No. 1 Novak Djokovic along with US Open champions Mate Pavic and Bruno Soares were also honoured for finishing 2020 on top of the men’s singles and men’s doubles rankings.
Break dancing gets Olympic status to debut at Paris Games in 2024
Breaking, the official name for competitive breakdancing, will become an Olympic sport for the first time at the 2024 Paris Olympics.
The sport was one of four to be approved for the summer games.
Surfing, skateboarding and sport climbing were also approved for Paris 2024, but all three events will also be a part of the Tokyo Olympics in 2021.
TSPSC Notes brings Prelims and Mains programs for TSPSC Prelims and TSPSC Mains Exam preparation. Various Programs initiated by TSPSC Notes are as follows:-- TSPSC Mains Tests and Notes Program
- TSPSC Group I Prelims Exam 2024- Test Series and Notes Program
- TSPSC Prelims and Mains Tests Series and Notes Program
- TSPSC Detailed Complete Prelims Notes