UPSC Current Affairs - 2019
Latest Current Affairs 2018-2019 for UPSC IAS / Civil Services Examination. This category comprises the current affairs short notes useful primarily for UPSC preliminary examination and upsc mains as well as state civil services examinations.
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The Ministry of Finance has asked all the departments to undertake a review of government guarantees given by respective ministries to their Central Public Sector Enterprises (CPSEs) or entities.
Review of Government Guarantees
- The review will look into aspects like whether the discharge of repayment obligations or interest obligations as per terms of the loan agreement and covenants and conditions met.
- Further, the details of CPSEs or entities on due guarantee fee paid on time to the government should also be submitted.
Why there is a review of Government Guarantees?
- Guarantees are contingent liabilities which have the potential to impact the financial performance of the government.
- Further, the FRBM Rules stipulates that the government cannot guarantee more than 0.5 per cent of the GDP of the respective financial year to CPSE/entities.
Hence the Ministry of Finance has requested all ministries and departments to prioritised guarantee requirement for 2019-20 to include only such proposals where the loan agreement can be signed and guarantee agreement can be executed during the year.
Iran and Pakistan have agreed to set up a joint border reaction force following to counter the increasing number of deadly attacks by militant groups on their frontier.
Border Reaction Force
- Border rapid reaction force would be set up for combatting terrorism since increased tensions over attacks on both sides of the frontier is causing heavy casualties.
- The Iran-Pakistan border skirts the volatile southeastern Iranian province of Sistan-Balochistan which has been the scene of frequent attacks on Iran’s security forces.
Iran- Pakistan relations have been strained in recent months and both sides have been accusing each other of not doing enough to stamp out militants allegedly sheltering across the border.
Hence together with increasing cooperation between border forces and intelligence agencies, both nations have decided to form a joint quick reaction force on the border of the two countries for fighting terrorism.