Current Affairs – August, 2020

This category comprises latest Current Affairs of August, 2020 with news summary on current events of National and International importance. Current Affairs August, 2020 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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GoI extends Line of Credit worth 18 million USD to Maldives

The Government of India has extended Line of Credit of worth 18 million USD to Maldives to expand fishing facilities at Maldives Industrial Fisheries Company (MIFCO).

Highlights

The funds granted to Maldives are to be used for the following

  • To develop 50-tonne ice plant in Gemanafushi. Also, a 100-tonne ice storage facility is to be developed
  • The funds will be used to set up tuna cooked plant and fishmeal plant
  • Investments towards fish collection

The above projects will help Maldives to increase fish collection and storage capacity. It will help the country acquire new markets in the fisheries sector.

India-Maldives

Maldives is important to India for its strategic location. In Indian Ocean, Maldives archipelago comprises of 1,200 coral islands. They lie next to the shipping lanes that ensure uninterrupted energy supplies to India, China and Japan.

Maldives is important to India for the following reasons

  • International Geopolitics: The significance of Maldives has grown since China began to send its ships to Indian Ocean 10 years ago. China sends its ships right up to Gulf of Aden in the name of antipiracy operations.
  • Regional Security: India needs to cooperate with Maldives as the former is a pre-eminent South Asian power and a net security provider in the Indian Ocean Region.
  • Maldives supports India at the United Nations Security Council.
  • There are more than 25,000 Indian nationals living in Maldives. Indian tourists account to 6% of Maldives tourism.

Bilateral Assistance

India has offered assistance to Maldives whenever required. India was the first to provide with relief when Maldives was badly hit by Tsunami. Also, GoI has launched several operations as in need to help save Maldives.

Operation Cactus

India launched Operation Cactus in 1984 and saved Maldives from a coup.

Operation Neer

This operation was launched by the Indian Government to help save Maldives from major fire that broke out in a Male Water and Sewerage company.

August 7: National Handloom Day

Every year, the Government of India celebrates National Handloom Day on August 7. The day is celebrated to honour the handloom weavers in the country. Also, the day highlights handloom industry in India.

Highlights

August 7 was first declared as National Handloom Day in 2015. The main objective is to create awareness about importance of handloom industry. The sixth National Handloom Day is being celebrated in 2020 under the coordination of Ministry of Textiles.

Why August 7?

August 7 was chosen as National Handloom Day to commemorate Swadeshi movement that was launched in 1905 on the very same day. The movement was launched in Calcutta Town Hall to protest against partition of Bengal by the British Government.

Schemes related to Handloom Sector

The following are the schemes that were launched by GoI to boost handloom sector

National Handloom Development Programme

The programme was launched for the time period of April 2017 and March 2020 under the Ministry of Textiles. The following are the key features of the scheme

  • The scheme aims to support weavers within and outside cooperative fold.
  • It will create permanent infrastructure in the form of marketing complexes, Urban Haats and develop e-marketing web portals for handloom products.

Comprehensive Handloom cluster Development Scheme

The scheme was launched between April 2017 and March 2020 to develop Mega Handloom Clusters in the country. The main aim of the scheme is to develop Mega Handloom Clusters that specialize in specific products.

Other Schemes

The other Schemes implemented by GoI for the welfare of the handloom sector are as follows

  • Yarn Supply Scheme
  • Handloom Weavers Comprehensive Welfare Scheme
  • Weavers MUDRA Scheme

Background

The handloom sector holds a unique place in the Indian Economy. More than 43 lakh weavers mostly from backward and minority community are employed in the handloom sector directly or indirectly. The Handloom sector accounts to 15% of textile production in the country.

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