Current Affairs – October, 2013

Latest Current Affairs October, 2013 with Current Affairs, news summary on current events of National and International importance of October, 2013 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Odisha to become a hub of Natural Gas business soon

A pact to establish a mega LNG terminal was inked between the State owned GAIL and Paradeep Port.  With the realization of this project, Odisha will soon be highlighted on the world map of natural gas business.

Under this project, GAIL will set up the terminal – Floating Storage Regasification Unit at a cost of over Rs 3100 crore.
The gas terminal will have an initial capacity of 4 million tonne per annum in first phase. The storage capacity of the unit will be 170,000 cubic metres. In the second phase, 4 million ton capacity will be added enhancing its capacity to 4.8 million tons. It will be operational by 2017.

Globally, India is currently the 4th largest consumer of natural gas.The share of natural gas in the country’s primary energy market is projected to reach 22% by 2020 and 25% by 2035. The setting up of the terminal is expected to promote industrial development, job creation and economic upliftment of the nation.

World Bank to provide India $360 million credit for Uttar Pradesh Water Sector Restructuring Project

Government of India inked a pact with the World Bank for credit of $360 million for the development of second phase of Uttar Pradesh Water Sector Restructuring Project. The objectives of the project are :

  1. To support the State in capacity building of Water Users Association, rehabilitation and modernization of irrigation, development of Basin River planning strategies and flood management systems.
  2. To improve the institutional and policy structure for integrated water resources management for the entire State
  3. To enhance agricultural productivity and water productivity by assisting farmers in targeted irrigation areas. 
What are the key areas of work in Uttar Pradesh Water Sector Restructuring Project?

There are six main areas to be worked upon in this project:

  • Strengthening of State Level Water Institutions and Inter Sector Coordination
  • Modernization and Rehabilitation of Irrigation and Drainage Systems
  • Consolidation and Enhancement of Irrigation Institution Reforms
  • Enhancing Agriculture Productivity and On-Farm Water Management
  • Feasibility studies and Preparation Activities for the Next Phase

Project Coordination and Monitoring.