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Current Affairs 18th February 2021

  1. IIF Report: In 2021, World’s Debt to increase The institute of International Finance (IIF) has reported that, the world has never been more indebted before and the debt will further rise in the year 2021 with more borrowing ahead amid the COVID-19 led economic crisis. As per the IIF, Governments, companies and households have raised $24 trillion in 2020 in order to offset the economic toll. This has resulted into the all-time high increase in the global debt. As of year 2020, the World’s debt stands at $281 trillion. This accounts for more than 355 percent of global GDP.
  2. Comprehensive Economic Cooperation Agreement approved between India and Mauritius The Union Cabinet chaired by Prime Minister Narendra Modi, has approved the signing f a comprehensive economic cooperation and partnership agreement between India and Mauritius. This approval was given on 17th February 2021. It is a kind of free trade agreement between India and Mauritius. This agreement was signed with the aim of liberalising the norms to boost a two-way commerce. This agreement is India’s first such trade agreement with any African nation.
  3. In Assam, PM Modi to launch ‘Mahabahu-Brahmaputra’ initiative On 18th February 2021, the Prime Minister Narendra Modi will virtually launch ‘Mahabahi-Brahmaputra’ initiative in Assam. He will lay the foundation stone for the Dhubri Phulbari bridge. PM will also perform the bhumi pujan for the construction of Majuli Bridge in Assam. PM while announcing the details stated that, it will be a landmark day in the development journey for Assam as Mahabahu-Brahmaputra initiative is going to be launched.
  4. SAARC Virtual Meet to be hosted by India India is all set to host the virtual health secretary-level meeting with the member countries of the South Asian Association for Regional Cooperation (SAARC). The virtual meeting will be held on 18th February 2021. During the meeting the members will discuss the ongoing COVID-19 crisis. Pakistan has also been invited to attend the meeting. The virtual meeting will discuss the challenges and development associated with the COVID-19 management and response to the pandemic. The members will exchange the best practices with respect to the ongoing pandemic.
  5. Amendments to the Juvenile Justice Act, 2015 approved by Cabinet The Union Cabinet has approved the proposal of the Ministry of Woman and Child Development to amend the Juvenile Justice (Care and Protection of Children) Act, 2015. The amendments include authorizing District Magistrates to issue adoption orders under Section 61 of the Juvenile Justice Act, in order to ensure speedy disposal of cases and enhance accountability.
  6. 3rd edition of Indian Sign Language Dictionary launched On 17th February 2021, Social Justice Empowerment Minister Thawarchand Gehlot virtually released the 3rd edition of the Indian Sign Language Dictionary. The Dictionary has been brought out by the Indian Sign Language Research and Training Centre, an autonomous Institute under the Department of Empowerment of Persons with Disabilities (Divyangjan), Ministry of Social Justice & Empowerment. The new dictionary contains 10 thousand terms of everyday use including academic, legal, administrative, medical, technical and agricultural terms.
  7. For Telecom and Networking products, Cabinet approved PLI Scheme On 17th February 2021, the Union Cabinet approved a Production of Linked Incentive (PLI) scheme worth Rupees 12195 crore for telecom and networking products. The eligibility for the scheme will be subject to achievement of a minimum threshold of cumulative incremental investment and incremental sales of manufactured goods and net of taxes. Financial year 2019-20 will be treated as the Base year for computation of cumulative incremental sales of manufactured goods net of taxes. The scheme will be operational from 1st April 2021.
  8. Sri Lanka to re-acquire Trincomalee oil tanks leased out to Indian Oil Sri Lanka will re-acquire the World War II-ear oil storage tanks leased out to Indian Oil Corporation in the eastern port district of Trincomalee. Energy Minister Udaya Gammanpila said that talks with the Indian High Commissioner in Colombo on this issue concluded on 14th February. Sri Lanka in 2003 had leased out 99 oil tanks to the IOC for 30 years for an annual payment of USD 100,000. The IOC was also given one third share of Sri Lankan Government entity, Petroleum Storage Limited.

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