States Current Affairs – 2018

Current Affairs 2017, 2016 of all States with latest updates. Current Affairs will list latest developments, issues in all states

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Fact Sheet: Odisha Coastal Disaster Alert System

Odisha Government has launched an automatic public address system to warn citizens about cyclone and tsunami, floods.

 Key features
  • This is the first of its kind technology in field of Early Warning Dissemination System (EWDS) in India.
  • The EWDS of Odisha government has been implemented under the assistance of World Bank with a cost of around 82 crores.
  • Around 122 towers have been installed along the 480 km long coastline of the odisha state to produce sound and sirens during emergency situations.
  • Sound producing from the towers can be heard in communities within a radius of 1.5 km.
  • The button will be pressed from the state emergency centre in Bhubaneswar during an emergency situation.
  • Six coastal districts named Balasore, Bhadrak, Jagatsinghpur, Kendrapara, Puri and Ganjam have been covered under the system.
  • It’s a part of the last-mile connectivity programme under the National Cyclone Risk Mitigation Project an aimed at protecting people from the cyclone effects.
  • The system will prove to be boon for the fisherman of the state.

Odisha and disasters

Odisha is vulnerable to many disasters. The state is prone to tropical cyclones, Storm surges and tsunamis. A large part of the state comes under Earthquake Risk Zone-II. The super-cyclone of 1999 which claimed 10,000 lives in Odisha. In 2013.Cyclone Phailin hit the Indian coasts. Cyclone Hudhud hit Odisha in 2014.Recently cyclone Titli hit odisha coast in 2018.

Disaster preparedness of Odisha

  • The Odisha State Disaster Management Authority (OSDMA) was established in 1999.OSDMA was the first disaster management authority centre established in India.
  • Odisha has active State Disaster Management Authority (SDMA).
  • Odisha, has built close to 800 multipurpose cyclone and flood shelters in cyclone prone areas.
  • All vulnerable regions in Odisha have active Cyclone Management Centres.
  • Odisha Disaster Rapid Action Force (ODRAF) is a well known name in cyclone hit areas.

The continuous focus on developing manpower, skill, and infrastructure, state of Odisha has emerged as one of the most disaster-ready states in the world today

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Kerala Infrastructure Investment Fund Board to issue masala bonds worth Rs 5,000 crore for development works

Kerala Infrastructure Investment Fund Board (KIIFB) is going to issue masala bonds worth Rs. 5,000 crore to mobilise funds for various development works. KIIFB has appointed Standard & Poor’s and Fitch Ratings for rating the masala bonds issue. The bonds will be listed in London and Singapore stock exchanges. The funds will be raised in tranches over period of 10 years.

KIIFB

It is Kerala government owned financial institution. Its mandate is to mobilize funds for infrastructure development from outside state revenue. It is statutory body constituted by Kerala Infrastructure Investment Fund Act, 1999.

Masala bonds

Masala bonds are rupee-denominated bonds through which Indian entities can raise money from foreign markets in rupee and not in foreign currency. Basically, it is debt instruments used by corporates to raise money from foreign investors in local currency. The issuance of rupee denominated bonds transfers risk associated with currency fluctuations to investors and not to the issuers. This is especially during depreciation of domestic currency and when borrowing is in foreign currency as company has to pay more while repaying its debt, or while servicing interest on such borrowings if the rupee weakened. From the issuer’s perspective, masala bonds provides cheaper borrowings compared to raising funds in India besides helps in diversifying its sources of fund-raising. Besides, it also helps in internationalization of the rupee and in expansion of Indian bond markets. Its issuance in long term can help to check slide of rupee and also reduce current account deficit over time.

Month: Categories: States Current Affairs - 2018

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