Daily Current Affairs for UPSC – Civil Services Examination (IAS exam) – 02-June-2020

Daily Current Affairs for UPSC – Civil Services Examination (IAS exam) – 02-June-2020

In Today’s News:

  1. Pulses, oilseeds see a sharp hike in MSP.
  2. Street vendors to get loans without collateral.
  3. Locusts fly into Chattisgarh from Madhya Pradesh.

1. Pulses, oilseeds see a sharp hike in MSP

Prelims GS– Economic Development & Mains GS3 – Economic Development

Cabinet Committee on Economic Affairs has increased the MSP of the Kharif crops including paddy, pulses, etc.. MSP for oilseeds was the major hike done by CCEA. This will ensure fair remuneration to farmers as per the budget 2018-2019

Prelims: Economic Development/Agriculture

MSP:
  • Minimum Support Price
  • MSP is the Minimum Price at which the Government will buy the produce from farmers.
  • Form of market intervention by the Government of India
  • To save agricultural producers from a sharp fall in farm prices
  • Announced by the Government of India at the beginning of the sowing season for certain crops based on the recommendation of Commission for Agricultural Prices(CACP)
  • Cabinet Committee on Economic Affairs announces MSP

Mini Insights:

Mains: GS 3 Economic Development/ Agriculture

Benefits of MSP:
  • To prevent farmers from distress sale of their crops
  • To assure the farmers with the Minimum Price for their crops
  • To reduce price fluctuations in the crops
  • Based on MSP, farmers can grow those crops that are having high MSP.
Limitations of MSP:
  • Farmers will grow the crops that are having high MSP
  • This will lead to an increase in the production of particular crops alone
  • Due to MSP, farmers wish to grow crops faster and they use additional pesticides, chemicals that lead to the ecological imbalance too.

 

2. Street vendors to get loans without collateral

Prelims GS– Economic Development & Mains GS3 – Economic Development

Ministry of House and Urban Affairs has announced a micro-credit scheme whereby street vendors can get loans without any collateral. This measure has been taken by the Government of India to prevent the street vendors from the Covid-19 lockdown effects.

Prelims: Economic Development

  • The Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi Scheme will benefit over 50lakh street vendors in the country.
  • They can apply for a capital of Rs.10,000 which could be repaid in monthly installments within a year
  • Even a 7% interest subsidy will be transferred to the accounts of the Street vendors through Direct Benefit Transfer if they paid early or even if they paid on time.
  • An online portal and application are also being created to ensure the speedy implementation process

Mini insights :

Mains GS3 – Economic Development

Benefits :
  • Credit supply enhancement to the Street Vendors
  • Credit crunch problem – solved for the Street Vendors
  • Demand-side measures – ensured by the Government of India
  • Rejuvenation of business for Street Vendors through these loans.

 

3. Locusts fly into Chattisgarh from Madhya Pradesh:

Prelims GS– Environment& Mains GS3 – Environment

Locusts have been attacking the crops in North and Northwest India for the last 15 days. It has been a very big menace. These locusts came from Africa and slowly extended their spread to Rajasthan, Gujarat and now they have entered even Chattisgarh which is almost towards the eastern side of our country.

Prelims: Environment

Harmful effects of Locusts:

Fast spreading of Locusts will erode the crops and lead to various diseases.

They pose:

  • A Threat to Vegetation
  • A Threat to Food Security and Livelihood

Locust Warning Organisation helps in predicting and controlling the spread of locusts

Locust Warning Organisation:
  • LWO is under the Ministry of Agriculture and Farmers’ Welfare
  • Located in Jodhpur, Rajasthan
  • LWO watches in the Scheduled Desert Areas of Gujarat and Rajasthan

 

Mini Insights

Mains GS3 – Environment

Locust Control measures:
  • Destroying egg masses laid by invading swarms,
  • Digging trenches to trap locusts,
  • Using insecticidal traps by keeping food in nets, and
  • Applying insecticides to both swarms and breeding grounds from aircraft.