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Current Affairs 02 June 2020
Daily Current Affairs 02 June 2020: We have collected the latest current affairs for 02 June 2020 that are important for all competitive exams like Bank, SSC, IBPS, SBI exams. The GK current affairs will help you score more in these competitive exams. Improve your general knowledge with our daily online current affairs. You can also read the daily current affairs on our mobile app.
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National News
IIT Madras Researches Uses Dredging Methodology to help triple Irrawaddy Dolphin’s population in Odisha’s Chilika Lake
- A research project undertaken by the team of Indian Institute of Technology (IIT) Madras has helped Chilika lake in Odisha, in tripling the population of the Irrawaddy dolphins.
- Chilika lake is Asia’s largest and world’s second largest brackish water body and home to a number of threatened species of plants and animals.
- The researchers developed a dredging methodology for enhancement of fishery resources and the increase of population of Irrawaddy dolphin with minimum impact on the lake ecosystem.
- Dredging is a four-part process consisting of the excavation (loosening or dislodging) of the material from the bottom of the river, bringing the material to the surface (together extraction), transportation and disposal.
- As a result, the fish production increased 7-fold and the population of highly threatened Irrawaddy dolphin also increased, thus promoting ecotourism which immensely benefitted the local fishers
- The team carried out the restoration work in 6 months at a cost of Rs 10 crore and the lake is now off the threatened list.
Banking & Economy News
Government changes Definition of MSME
- The Ministry of Micro, Small & Medium Enterprises has once again changed the definition of MSME. Before this, the change in definition was made while the Finance Minister announced the ‘Atmanirbhar Bharat Package’.
- The definition of MSME is now based on “Investment (Capital) And Annual Turnover”
The new and old definition of MSME is mentioned below:
|
Category
|
New Capital
|
New Turnover
|
Old Capital
|
Old Turnover
|
|
Micro
|
1 Crore
|
5 Crore
|
25 Lakh
|
10 Lakh
|
|
Small
|
10 Crore
|
50 Crore
|
5 Crore
|
2 Crore
|
|
Medium
|
50 Crore
|
250 Crore
|
10 crore
|
5 Crore
|
The turnover with respect to exports will not be counted in the limits of turnover for any category of MSME units whether micro, small or medium. This will help in attracting investments and creating more jobs in the MSME sector.
The government has made the following approvals related to MSME sector:
- Provisioning of Rs 20,000 crore as subordinate debt to provide equity support to the stressed MSMEs. This will benefit 2 lakh stressed MSMEs.
- Equity infusion of Rs. 50,000 crore for MSMEs through Fund of Funds (FoF).
Moody’s downgrades India’s sovereign rating to ‘Baa3’, maintains negative outlook, revises GDP for FY21 to -4%
- Moody’s Investors Service has downgraded India’s sovereign rating one notch to the lowest investment grade (Baa3) from ”Baa2”, with negative outlook.
- ”Baa3” is the lowest investment grade, just a notch above junk status.
- Moody’s has also revised its FY21 GDP estimate for India to 4% contraction against 0% growth projected earlier.
- However, the economic growth is projected to pick up at 8.7% in FY22 and 6% in FY23.
International News
SpaceX’s Crew Dragon spacecraft Successfully docks 2 NASA Astronauts at ISS after historic launch
- SpaceX’s Crew Dragon spacecraft successfully docked two NASA astronauts, Bob Behnken and Doug Hurley, at the International Space Station (ISS) in a historic launch on 31 May 2020, from the Kennedy Space Center in Florida on Falcon 9 rocket.
- This is the first time in human history that NASA Astronauts have entered the Space Station from a commercially-made spacecraft, and also assumes significance as it marks the launch of humans into orbit from US soil for the first time in nearly a decade, since the Space Shuttle was retired in 2011.
- With this launch, Elon Musk’s SpaceX company has become the first private company to launch people into the orbit, a feat achieved previously by only three governments the US, Russia and China.
- It was also a test flight designed to see how the spacecraft, which had never flown humans before, performed.
Important Days
World Milk Day: 01 June
- World Milk Day is observed on June 1 each year since 2001 to recognize the importance of milk as a global food and provide an opportunity to bring attention to activities that are connected with the dairy sector.
- The international day was established by the Food and Agriculture Organization (FAO) of the United Nations.
- The theme of 2020 is ’20th Anniversary of World Milk Day’ to mark the 20th anniversary of the day.
Obituary
Renowned Bollywood singer-composer Wajid Khan of duo Sajid-Wajid Passes away due to COVID-19
- Well-known Bollywood composer and singer Wajid Khan of the popular music director duo Sajid-Wajid has passed due to coronavirus COVID-19 complications.
- He was 42.
Former Olympic Sprint Champion Bobby Morrow of America Passes Away at 84
- American sprinter, Bobby Joe Morrow, who won three athletics gold medals at the 1956 Melbourne Olympic Games, has passed away. He was 84.
- Known as ‘The San Benito Bullet’, Morrow won the 100m, 200m and 4x100m relay in Melbourne, becoming the first man only after fellow American Jesse Owens (1936) to win sprint treble.
- Carl Lewis (1984) and Usain Bolt (2012 and 2016) are the only other men to win the three sprint titles at the same Games.
- Marrow was named Sports Illustrated’s “Sportsman of the Year” in 1956 and set 11 ratified world records during his career.
Miscellaneous
IMD Reports ‘Cyclone Nisarga’ over Arabian Sea Likely to hit Maharashtra and Gujarat on 3 June
- On 31 March 2020, the India Meteorological Department (IMD) issued a red-colour coded warning to coastal Maharashtra and Gujarat for June 4 in view of a cyclonic storm, named ‘Nisarga’, developing in the Arabian Sea.
- As per IMD’s data, the low-pressure area developing currently over east central Arabian Sea and the Lakshadweep Islands is likely to intensify into a severe cyclone and cross the north Maharashtra and south Gujarat coasts on June 3.
- Cyclone Nisarga will bring strong winds and heavy to very heavy rainfall to coastal Maharashtra and Gujarat.
- Unlike cyclone Amphan, which was categorised as an extremely severe cyclonic storm that devastated parts of West Bengal, the cyclone Nisarga is expected to be less intense when it hits the coast.