Daily Current Affairs, 04th July 2019

1) Jagannath Rath Yatra 2019 begins

•Lord Jagannath Rath Yatra begins in Puri, Odisha. The Rath Yatra marks the journey of Lord Jagannath along with his siblings Lord Balabhadra and Devi Subhadra from Jagannath temple to Gundicha temple. This journey covers a distance of around 17 km in Puri.

2) Govt hikes MSP of Kharif crops for 2019-20 season

The Cabinet Committee on Economic Affairs has approved the increase in the Minimum Support Prices for all Kharif crops for 2019-20 Season. MSP of the following crops has been increased by:
•Paddy: 65 rupees per quintal
•Jowar: 120 rupees per quintal
•Ragi: 253 rupees per quintal
•Tur: 125 rupees per quintal
•Moong: 75 rupees per quintal
•Urad Pulses: 100 rupees per quintal
•Soyabean: 311 rupees per quintal
•Sunflower: 262 rupees per quintal
•Sesamum: 236 rupees per quintal

3) Maharashtra ranks first in NITI Aayog’s AMFFR Index

•Maharashtra achieves first rank in NITI Aayog launched “Agricultural Marketing and Farmer Friendly Reforms Index (AMFFRI)”.

•The index ranks states based on the degree of reforms they have undertaken in agricultural marketing. AMFFRI has a score that can have minimum value “0” implying no reforms and maximum value “100” implying complete reforms in the selected areas.

4) IMF approves $6 billion loan for cash-strapped Pakistan

•The IMF has approved a USD 6 billion loan over a period of 3 years for cash strappedPakistan. The USD 6 billion financial aid includes an immediate disbursement of USD 1 billion to help Pakistan address its balance of payment crisis.

•The approved loan aims to support Pakistan’s economic plan, which aims to return sustainable growth to the country’s economy and improve the standards of living.

5) RBI sets up panel to review CICs

•The Reserve Bank of India has set up a working group to review the regulatory and supervisory framework for core investment companies (CIC). The group will be headed by Tapan Ray, non-executive chairman, Central Bank of India.

•The panel will examine the current regulatory framework for CICs in terms of adequacy, efficacy and effectiveness.