Current Affairs - July 2019

Latest Current Affairs July, 2019 with Current Affairs, news summary on current events of National and International importance of July, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Priti Patel: Britain’s first Indian-origin Home Secretary

Newly elected British Prime Minister Boris Johnson has appointed Indian origin Priti Patel as the Home Secretary of Britain. With this she has become Britain’s first Home Secretary of Indian origin. She has her roots in Tarapur in Gujarat.

Former Home Secretary Sajid Javid would take over from Philip Hammond as Finance Secretary (or Chancellor).

About Priti Patel

The 47-year-old leader is an old Eurosceptic and a powerful backer of Brexit. She was among most vocal critics of Theresa May’s Brexit strategy.

As a Home Secretary she will be in charge of immigration, crime and policing, counter-terrorism and drugs policy.

She was 1st elected as a Conservative Member of Parliament in 2010. However she gained prominence in then David Cameron led Tory government as his Indian Diaspora Champion.

Govt approves creation of buffer stock for 40 lakh MT of sugar for 1 yr

Cabinet Committee on Economic Affairs (CCEA) has approved creation of a buffer stock of 40 lakh metric tonnes (LMT) of sugar. This buffer stock would be created for one year starting from 1 August 2019 to 31 July 2020. The decision of approving a buffer stock is to maintain demand-supply balance and to stabilise sugar prices.

Key Highlights

Estimated Cost & Review: Government will spend an estimated Rs.1674 crore for creation of a buffer stock of 40 LMT. However, based on market price and availability of sugar, this may be reviewed by Department of Food and Public Distribution under Union Ministry of Consumer Affairs, Food and Public Distribution any time for withdrawal or modification.

Reimbursement: provided under scheme would be met on a quarterly basis (3 months) to sugar mills. It would be directly credited into farmers’ account on behalf of mills against cane price dues. In case of any subsequent balance, it would be credited to mill’s account.

Benefits: The decisions will lead to:

  • Reduction in sugar inventories
  • Improvement in liquidity positions of sugar mills
  • Stabilization in sugar prices by alleviating of price sentiments in domestic sugar market. This will further facilitate timely clearance of cane price dues of farmers.
  • Benefits for sugar mills in all sugarcane producing States, by way of clearing sugarcane price dues of sugar mills.