Current Affairs – February, 2020

This section is a feed of Current Affairs February, 2020 comprising all Current Affairs National and International importance published in february, 2020 Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

PDF Compilation of these updates can be downloaded from This Link

Economic Survey suggests “Assemble In India Model” to create 80 million jobs

The Economic Survey 2019-20 suggests a new idea of “Assemble in India” model to create 80 million jobs in the country. The model will also help India achieve its 5 trillion USD economy target.

Highlights

The report suggests that India should benefit from the China-US trade war situation by increasing export manufacturing. It also says that China has been performing well in exports mainly due to large scale labour intensive activities. Chinese import components and assemble in China. This creates immense job opportunities.

Assemble in India Model

The Assemble in India for the world should be integrated with Make in India. This will increase export market share by 3.5% in 2025 and 6% in 2030.

Current Scenario

India contributes only 2% of world trade. With China-US trade war, firms are looking for alternative locations. Also, labour shortages and increase in wages in China are ideal for India to grab global markets.

These opportunities are ideal for India to make similar trajectory as that of China as its labour-intensive sectors are slowly being vacates.

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Economic Survey: National Food Security Act Coverages should be reduced

The Economic Survey was tabled by the Finance Minister Nirmala Sitaraman in the Parliament on January 31, 2019. The Survey says that the subsidies under National Food Security Act (NFSA) should be sharply reduced

Highlights

The Survey suggests that the coverage of the act should be reduced to 20% of the population. On the other hand, these funds should be diverted towards incentivizing environmentally sustainable production. Also, more focus should be laid to replenish the food grain economy that has been riddled due to several economic inefficiencies.

Current Scenario of NFSA

At present, around 67% of the Indian households are entitled to 5 kilograms of subsidized wheat and rice per person per month. Over 800 million are benefitted from food subsidy scheme.

Since the NFSA was introduced in 2013, the expense of food subsidy has increased from 1.1 trillion rupees in 2014-15 to 1.7 trillion rupees in 2018-19

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