ENVIRONMENT

 

1. Delhi pollution halved during first phase of lockdown: CPCB

 

—The first phase of the lockdown, from March 25 to April 15, reduced particulate matter pollution by nearly half in Delhi, according to a report by the Central Pollution Control Board.

—Overall, 46% reduction in PM2.5 and 50% reduction in PM10 were observed during the lockdown period.

—The improvement in air was due to a reduction in combustion and industrial sources, which are common to both the categories of particulate matter.

—As 81% of Delhi’s nitrous oxide emissions came from the transport sector, restrictions on vehicular activity led to a 56% reduction in NO2 levels and over 37% reduction in carbon monoxide levels during the lockdown period, compared to pre-lockdown times.

—There was also a 47% reduction in benzene levels while sulphur dioxide levels reduced only by 20%. This was because 70% of Delhi’s SO2 originates from power plants located around Delhi and power plants continue to operate.

 

Less than average

—Moreover, 24-hourly average PM2.5 and PM10 were within National Ambient Air Quality Standards (NAAQS) for 20 and 15 days respectively, while NO2 levels were 75% less than their 24-hourly standard.

 

About CPCB

— The Central Pollution Control Board (CPCB) of India is a statutory organisation under the Ministry of Environment, Forest and Climate Change (Mo.E.F.C).

—It was established in 1974 under the Water (Prevention and Control of pollution) Act, 1974.

—The CPCB is also entrusted with the powers and functions under the Air (Prevention and Control of Pollution) Act, 1981.

—It serves as a field formation and provides technical services to the Ministry of Environment and Forests under the provisions of the Environment (Protection) Act, 1986.

—It co-ordinates the activities of the State Pollution Control Boards by providing technical assistance and guidance and resolves disputes among them. It is the apex organisation in country in the field of pollution control, as a technical wing of MoEFC.

 

About NAAQS

— Air (Prevention and Control of Pollution) Act empowers Central Pollution Control Board to set standards for the quality of air.

—Current NAAQS were notified by CPCB in the year 2009.

—Pollutants covered under NAAQS are Sulphur Dioxide (SO2), Nitrogen Dioxide (NO2), Particulate Matter (PM 10, PM 2.5), Ozone (O3), Lead (Pb), Carbon Monoxide (CO), Ammonia (NH3), Benzene (C6H6), Benzo(a)Pyrene (BaP), Arsenic(As), Nickel (Ni).

 

Reference: https://www.thehindu.com/news/cities/Delhi/delhi-pollution-halved-during-first-phase-of-lockdown-cpcb/article31419356.ece

 

SOCIETY

 

1. Plea claims violations in Food Act implementation

 

—A petition has been filed before the Delhi High Court alleging widespread violations in the implementation of the National Food Security Act (NFSA), including ration shops being shut during working hours and denial of access to food grains to needy during lockdown.

 

About NFSA

— The National Food Security Act, 2013 (also Right to Food Act) is an Act of the Parliament of India which aims to provide subsidized food grains to approximately two thirds of India's 1.2 billion people.

— The National Food Security Act, 2013 (NFSA 2013) converts into legal entitlements for existing food security programmes of the Government of India.

—It includes the Midday Meal Scheme, Integrated Child Development Services scheme and the Public Distribution System. Further, the NFSA 2013 recognizes maternity entitlements. The Midday Meal Scheme and the Integrated Child Development Services Scheme are universal in nature whereas the PDS will reach about two-thirds of the population (75% in rural areas and 50% in urban areas).

 

Reference: https://www.thehindu.com/news/cities/Delhi/plea-claims-violations-in-food-act-implementation/article31419188.ece

 

2. Coronavirus lockdown | Rajasthan government steps in to give regular wages to poor villagers

 

—After a massive slump in the number of labourers engaged at the sites of the rural employment guarantee works during the COVID-19 lockdown, the Rajasthan government has initiated steps to generate labour-intensive opportunities in order to give regular wages to the poor villagers. The flagship scheme’s wages have been revised from ₹199 a day to ₹220 a day.

—6.08 lakh labourers were engaged under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) across the State during the last four days. Earlier, only 62,000 workers were employed in the scheme until April 17.

 

About MNREGA

— Mahatma Gandhi Employment Guarantee Act 2005 is an Indian labour law and social security measure that aims to guarantee the 'right to work'. This act was passed in September 2005.

— It aims to enhance livelihood security in rural areas by providing at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work.

 

Reference: https://www.thehindu.com/news/national/other-states/rajasthan-govt-steps-in-to-give-regular-wages-to-poor-villagers/article31419199.ece

 

2. Tribals in Malkangiri left out of food security and pro-poor schemes

 

—A ground-level investigation by members of the Odisha unit of CPI(M) has hinted that hundreds of tribal families in remote Swabhiman Anchal of Odisha’s Malkangiri district are left out from the food security and other pro-poor government schemes.

— Swabhiman Anchal is the most deprived area in Maoist-infested Malkangiri district.

 

No Panchayats polls

—The hilly terrain of Swabhiman Anchal reduces the scope of cultivation. Due to the Maoist threat, Panchayats elections could not be held in the area.

—Lack of elected Panchayats bodies became a stumbling the block in identification and inclusion of tribal families of the region in the list of beneficiaries of government schemes, including food security.

 

Reference: https://www.thehindu.com/news/national/other-states/tribals-in-malkangiri-left-out-of-food-security-and-pro-poor-schemes/article31419110.ece

 

Geography

 

1. Kaleshwaram water is a dream comes true: KCR

 

—In the integrated Andhra Pradesh State, Telangana region was neglected on the irrigation front.

—With the filling up of the Kaleshwara, Lift Irrigation Project (KLIP) from Medigadda, Annaram, Sundilla, Sripada Yellampalli project, MMD and LMD, the ground water table had considerably recharged and water was oozing out of the bore wells in the erstwhile composite Karimnagar district.

 

Benefits:

—KLIP would irrigate about 75 to 80 lakh acres in the State and another 15-to 20 lakh acres through the recharged ground water.

—The government would develop tourism at MMD, Nampally hillocks and LMD reservoir.

—The government was planning to construct 1230 check-dams, including 39 in Karimnagar district, across Manair River and Mulavagu rivulet.

 

About KLIP:

— The Kaleshwaram Lift Irrigation Project or KLIP is a multi-purpose irrigation project on the Godavari River in Kaleshwaram, Bhoopalpally, Telangana, India.

— Currently the world's largest multi-stage lift irrigation project, its farthest upstream influence is at the confluence of the Pranhita and Godavari rivers.

—The Pranahita River is itself a confluence of various smaller tributaries including the Wardha, Painganga, and Wainganga rivers, which combine to form the seventh-largest drainage basin on the subcontinent, with an estimated annual discharge of more than 6,427,900-acre feet (7,930 cubic hectometres) or 280 TMC.

— It remains untapped as its course is principally through dense forests and other ecologically sensitive zones such as wildlife sanctuaries.

 

Reference: https://www.thehindu.com/news/national/telangana/kaleshwaram-water-is-a-dream-comes-true-kcr/article30435475.ece

 

CULTURE

1. Karnataka gives Devanahalli chakota new wings

 

—Endowed with a unique taste and flavour, and a Geographical Indication (GI) tag, the Devanahalli Pomelo, the citrus fruit popularly known as chakota, is getting a fresh cultivation push.

—The fruit is localised to around 13 villages in Devanahalli taluk, eight villages of Sidlaghatta taluk and seven villages of Doddaballapura taluk.

—Bangalore International Airport Limited (BIAL), which operates the Kempegowda International Airport (KIA), too is cultivating the fruit.

—BIAL aims to promote cultivation of the fruit and form a viable market in collaboration with the Indian Council of Agricultural Research and other institutions.

 

About ICAR

— The Indian Council of Agricultural Research (ICAR) is an autonomous body responsible for co-ordinating agricultural education and research in India. It reports to the Department of Agricultural Research and Education, Ministry of Agriculture.

—The Union Minister of Agriculture serves as its president. It is the largest network of agricultural research and education institutes in the world.

A geographical indication (GI) is a name or sign used on certain products, which corresponds to a specific geographical location or origin (e.g., a town, region, or country).

• India, as a member of the World Trade Organization (WTO), enacted the Geographical Indications of Goods (Registration and Protection) Act, 1999 has come into force with effect from 15 September 2003.
• GIs have been defined under Article 22 (1) of the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement as: "Indications which identify a good as originating in the territory of a member, or a region or a locality in that territory, where a given quality, reputation or characteristic of the good is essentially attributable to its geographic origin."

 

• The GI tag ensures that none other than those registered as authorised users (or at least those residing inside the geographic territory) are allowed to use the popular product name. Darjeeling tea became the first GI tagged product in India, in 2004–2005

 

2. Kamakhya temple festival called off

 

With the lockdown, the annual festival at the Kamakhya temple here has been cancelled for the first time in its recorded history.

 

About kamakhya temple

—Legends say the temple atop the Nilachal Hills, whose northern face slopes down to the Brahmaputra River, was built by the demon king Narakasura.

—Records are available only from 1565 when Koch King Naranarayana had the temple rebuilt.

—Kamakhya is one of the 51 shaktipeeths, or holy sites, for the followers of the Shakti cult, each representing a body part of Sati, Lord Shiva’s companion. The temple’s houses the — female genitals — symbolised by a rock. The festival marks the menstruation of the goddess

 

 

HEALTH

 

Rapid failures: On antibody testing kits

 

—Rapid testing kits that State governments have been using to detect antibodies to the novel corona virus have proved unreliable, making the shift to normal life after the lockdown ends on May 3 more difficult.

—While the diagnostic RT-PCR test to confirm the presence of the virus using a nasal swab in a laboratory setting is considered reliable, attempts to design a rapid test that uses a blood sample to find antibodies after past infection have thrown up errors in as much as a third of cases: a study in the U.K. showed that they were high on specificity — accurate in cases that they found to be antibody positive.

—The ICMR has advised States, to whom it distributed kits, that they could be used for surveillance testing, rather than to make medically important decisions. Narrowing down the test to reliable methods is the challenge, and the WHO along with its collaborating centres is working to identify them.

—The results will be crucial and all countries, including the U.S. White House Corona virus Task Force, are looking at serosurveillance, the process that will determine the status of the population on COVID-19.

 

Reference: https://www.thehindu.com/opinion/editorial/rapid-failures-the-hindu-editorial-on-antibody-testing-kits/article31417871.ece

 

Violence not answer even against bad journalism: Press Council

 

—The Press Council has said it is distressed about the ‘attack’ on the Republic TV anchor and stressed violence is not the answer even against bad journalism.

—The Council in a brief statement said every citizen including a journalist has the right to express their opinion, which may not be palatable to many, but this does not give anybody the authority to strangulate such voice.

 

About PCI

— The Press Council of India is a statutory, adjudicating organization in India formed in 1966 by its parliament. It is the self-regulatory watchdog of the press, for the press and by the press that operates under the Press Council Act of 1978.

—The Council has a chairman – traditionally, a retired Supreme Court judge, and 28 additional members of which 20 are members of media, nominated by the newspapers, television channels and other media outlets operating in India.

 

Reference: https://www.thehindu.com/news/national/violence-not-answer-even-against-bad-journalism-press-council/article31417832.ece

 

Corona virus | DRDO develops mobile virology research lab

 

—Mobile virology research and diagnostics laboratory (MVRDL) has been developed by the Defence Research and Development Organisation (DRDO), together with ESIC Hospital, Hyderabad and the private industry.

—The mobile lab will be helpful in carrying out diagnosis of COVID-19 and in virus-culturing for drug screening, convalescent plasma-derived therapy, comprehensive immune profiling of patients towards vaccine development and early clinical trials specific to Indian population.

—The MVRDL is the combination of a bio-safety level (BSL)-3 labs and a BSL-2 lab and was set up in a record time of 15 days. It can process 1,000-2,000 samples a day.

—The laboratories comply with the bio safety standards of the World Health Organisation (WHO) and the Indian Council of Medical Research (ICMR) so as to meet international guidelines.

—The first such MVRDL was developed by the Research Centre Imarat (RCI), Hyderabad, in consultation with ESIC Hospital. It can be positioned anywhere in the country.

 

About DRDO

— The Defence Research and Development Organisation (DRDO) is an agency of the Government of India, charged with the military's research and development, headquartered in Delhi, India.

—It was formed in 1958 by the merger of the Technical Development Establishment and the Directorate of Technical Development and Production of the Indian Ordnance Factories with the Defence Science Organisation. It is under the administrative control of the Ministry of Defence, Government of India.

 

About WHO

— The World Health Organization (WHO) is a specialized agency of the United Nations responsible for international public health.

—The WHO Constitution, which establishes the agency's governing structure and principles, states its main objective as ensuring "the attainment by all peoples of the highest possible level of health."

—It is headquartered in Geneva, Switzerland, with 6 semi-autonomous regional offices and 150 field offices worldwide.

 

Reference: https://www.thehindu.com/news/national/drdo-develops-mobile-virology-research-lab/article31417752.ece

 

 

CSIR lab defends sanitisation tunnel after ministry’s advisory

 

—In the wake of several advisories advocating against the use of sanitisation tunnels as part of efforts to contain the spread of the novel corona virus, the Pune-based CSIR-National Chemical Laboratory (CSIR-NCL) and the Mumbai-based Institute of Chemical Technology (ICT) issued a joint statement asserting that the advisories “did not have any scientific basis”.

—Efficacy of sodium hypochlorite, also known as hypo or bleach, ranging from 0.02% to 0.05% weight concentration was studied on personnel walking through mist tunnel unit besides antibacterial activity against standard microorganisms before and after exposure in the walk-through.

— Results indicated that [sodium hypochlorite used in this weight concentration range] did not show any adverse effects on the skin.

—The ministry had made clear that the spraying [of disinfectant] on individuals or groups was “not recommended under any circumstances” and that even if a person was potentially exposed to the novel corona virus, spraying the external part of the body did not guarantee killing the virus that had entered one’s body.

—CSIR-NCL further recommended the use of ‘face shields’ or ‘safety goggles’ during the walk-through which could then be recycled after further disinfection.

—The walk-through is recommended to be followed by a hand wash using soap or hand-sanitisers to complete the process.

 

About CSIR

— The Council of Scientific and Industrial Research abbreviated as CSIR was established by the Government of India in September 1942 as an autonomous body that has emerged as the largest research and development organisation in India.

— Although it is mainly funded by the Ministry of Science and Technology, it operates as an autonomous body through the Societies Registration Act, 1860.

—The research and development activities of CSIR include aerospace engineering, structural engineering, ocean sciences, life sciences, metallurgy, chemicals, mining, food, petroleum, leather, and environmental science.

 

Reference: https://www.thehindu.com/news/national/csir-lab-defends-sanitisation-tunnel-after-ministrys-advisory/article31417722.ece

 

 

INTERNATIONAL

 

Fishing in troubled waters during a pandemic

 

In recent days, China has conducted military drills and deployed large-scale military assets to the maritime area, while officially celebrating strides made in exploiting disputed energy resources in the sea.

 

Strategy for expansion

—The Vietnamese Ministry of Foreign Affairs reported early this month that a Chinese Coast Guard vessel “rammed and sunk” a Vietnamese fishing boat carrying eight Vietnamese fishermen in the Paracel Islands in the South China Sea.

—There have been incidents involving Chinese fishing vessels and the Chinese Coast Guard with Indonesian fishing vessels in waters around the Natuna Sea as well.

—China’s illegal fishing near the Natuna Sea carries global consequences, reminding regional governments of Beijing’s expanding claims to the South China Sea through which one-third of the world’s maritime trade flows.

—Besides these incidents, there were satellite images showing a Chinese military plane landing on Kagitingan Reef in the West Philippine Sea in late March.

—There are also reports that China recently opened a research station on Kagitingan and Zamora Reef, also in the West Philippine Sea, to gather data on the ecology, geology, and environment in the Spratlys.

 

Window of opportunity

—While a military policy of expansion in the neighbourhood can be one way of shoring up the credibility of the Chinese Communist Party, which has been bruised by its handling of the COVID-19 outbreak, it is also a response to what many in the party would view as a rare window of opportunity as the U.S. is grappling with the pandemic.

—American ties with Vietnam have been on an upward trajectory in recent times. Vietnam has been an ardent supporter of the U.S.’s freedom of navigation operations (FONOPS) carried out in the South China Sea.

—China has always taken a strong stand against these FONOPS of the U.S. It has flexed its muscles to match up to these operations.

—In that direction, China also recently conducted anti-submarine drills in the disputed areas soon after the Pentagon deployed the U.S.-guided missile destroyer USS McCampbell in a FONOP in the South China Sea before the pandemic hit the U.S. mainland with full force.

—At present, Vietnam is the chair of the ASEAN and will be presiding over the discussions on the Code of Conduct, which has been a work in progress for long.

 

About ASEAN

— The Association of Southeast Asian Nations is a regional intergovernmental organization comprising ten countries in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.

 

Reference: https://www.thehindu.com/opinion/lead/fishing-in-troubled-waters-during-a-pandemic/article31417974.ece

 

Australia pitches for trilateral cooperation with India, Indonesia

 

—India and Australia will face common challenges in the Indo-Pacific as the COVID-19 pandemic is stretching much of the world’s governmental capacity.

 

Interoperability

—Indo-Pacific would continue to be the engine of the global economy in the decades to come.

—The High Commissioner designate also referred to the Indian Navy’s Information Fusion Centre

 

About IFC-IOR

—IFC-IOR stems from the importance of the Indian Ocean to world trade and security, and the need for the various maritime nations and organisations to collaborate towards enhancing maritime safety and security on the seas of this region.

— In addition to utilising the collective wisdom and resources towards addressing myriad challenges in the region, IFC-IOR will help interface and integrate, wherein, all partners and stakeholders would benefit from each other’s best practices and expertise.

—The IFC has been established at Gurugram, India and is collocated with Information Management and Analysis Centre, which is jointly administered, by the Indian Navy and Indian Coast Guard.

—IFC-IOR is established with the vision of strengthening maritime security in the region and beyond, by building a common coherent maritime situation picture and acting as a maritime information hub for the region.

—Establishment of IFC- IOR would ensure that the entire region is benefitted by mutual collaboration and exchange of information and understanding the concerns and threats, which are prevalent in the region.

 

Reference: https://www.thehindu.com/news/national/australia-pitches-for-trilateral-cooperation-with-india-indonesia/article31413302.ece

 

3. Trump signs executive order restricting immigration

 

—U.S. President Donald Trump signed an executive order barring certain categories of immigrants from admission to the U.S. for 60 days, ostensibly to protect Americans’ jobs at risk from the COVID-19 pandemic.

—The President’s proclamation went into effect shortly before the country’s weekly job report was released, showing that another 4.4 million Americans had declared themselves unemployed in the week ending April 18, taking the total number to some 26 million since the pandemic began.

 

Chain migration

—The new order, while in effect, will prevent individuals from bringing their parents, adult children, or siblings into the U.S. (Mr. Trump has called this “chain migration”).

—Entry into the U.S. for individuals who are already legal permanent residents is not suspended. The order also does not apply to spouses of U.S. citizens or those seeking entry on the EB-5 investor visa.

—Some immigrant visa holders such as doctors, nurses, healthcare workers and COVID-19 researchers and their spouses and minor dependents are exempt from the suspension order.

—The proportions for the 53,707 Indians who got green cards in FY2019 (year ending October 2019) were similar —with slightly less than half-getting immigrant visas from outside.

—Mr Trump’s policies have progressively tried to restrict both legal and illegal migration to the U.S.

Critics have said his latest policy is to distract from criticisms of his handling of the pandemic.

 

Reference: https://www.thehindu.com/news/international/trump-signs-executive-order-restricting-immigration/article31418056.ece

 

 

ECONOMY

 

1. Repo auction gets poor response

 

—The first auction of the second tranche of Reserve Bank of India’s (RBI) targeted long term repo operations (TLTRO 2.0), which were meant for liquidity support to non-banking financial companies, (NBFCs), received poor response as total value of bids received from banks was almost 50% less than the notified amount.

—The RBI received 14 bids worth ₹12,850 crores in the auction that was conducted on Thursday, against a notified amount of ₹25,000 crores, of three-year tenor.

—NBFCs, including housing finance companies and MFIs, are facing stretched liquidity conditions as banks turned risk-averse and choked lending. Adding to the woes, banks have not extended the three-month repayment moratorium to the NBFCs.

 

About LTRO

— In the last monetary policy, instead of cutting the policy rates, the Reserve Bank of India (RBI) introduced a tool called long-term repo operation (LTRO) to inject liquidity in the system, as well as to ensure transmission of rates.

—Under LTRO, RBI provides longer-term (one- to three-year) loans to banks at the prevailing repo rate. As banks, get long-term funds at lower rates, their cost of funds falls. In turn, they reduce interest rates for borrowers.

—LTRO helped RBI ensure that banks reduce their marginal cost of funds-based lending rate, without reducing policy rates.

—LTRO also showed the market that RBI will not only rely on revising repo rates and conducting open market operations for its monetary policy, but also use new tools to achieve its intended objectives.

 

About NBFC

— The most important difference between non-banking financial companies and banks is that NBFCs don't take demand deposits.

—A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency.

—NBFI facilitates bank-related financial services, such as investment, risk pooling, contractual savings, and market brokering.

— Examples of these include insurance firms, pawnshops, cashier's check issuers, check cashing locations, payday lending, currency exchanges, and microloan organizations.

—Operations of non-bank financial institutions are often still covered under a country's banking regulations.

 

Reference: https://www.thehindu.com/business/repo-auction-gets-poor-response/article31418139.ece

 

2. RBI to restart Operation Twist to manage yields

 

—The Reserve Bank of India (RBI) has announced simultaneous purchase and sale of government bonds in a bid to soften long-term yields.

—The central bank will buy ₹10,000 crores of bonds maturing between 2026 and 2030 and sell the same amount of T-bills.

—Such open market operations are known as ‘Operation Twist,’ which was used by the RBI in December last year for the first time.

 

WHAT IS OPERATION TWIST?

• Operation Twist was a term given to a monetary policy tool used by the US on two occasions to influence market interest rates. The US conducted the original "Operation Twist" in 1961 and again in 2011. The key aim, in both scenarios, was to lower long-term interest rates.
• The financial tool also helps in either reducing liquidity in the market or increasing it, based on the simultaneous sale and purchase of bonds.
• In India's context, Operation Twist is a bid to bring down interest rates on long-term loans--something that it has failed despite five rate cuts by RBI this year.

Reference: https://www.thehindu.com/business/rbi-to-restart-operation-twist-to-manage-yields/article31418091.ece

 

3. Govt. to suspend IBC rules for up to one year

 

—In a major relief for corporate borrowers hit hard by the COVID-19 pandemic, the government has decided to amend the insolvency law to suspend up to one-year provisions that trigger insolvency proceedings against defaulters, according to sources.

—Further, the sources said amendments to the IBC (Insolvency and Bankruptcy Code) would pave the way for banks to restructure loans.

—The sources said an ordinance would be promulgated to suspend three sections of the IBC for up to one year and a decision in this regard was taken by the Union Cabinet on Wednesday.

—Sections 7, 9 and 10 of the IBC would be suspended for six months and the suspension time can be extended by up to one year.

—Section 7 and 9 pertain to initiation of corporate insolvency proceedings by a financial creditor and an operational creditor, respectively. Section 10 relates to filing of an application for insolvency resolution by a corporate.

 

About IBC

— The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.

— A sound legal framework of bankruptcy law is required for achieving the following objectives:-

--Improved handling of conflicts between creditors and the debtor

--Set a limit between malfeasance and business failure

--Macroeconomic downturns losses to be allocated

An infirm insolvency regime leads to the stereotype of “rich promoters of defaulting entities” generating theories such as:

--misconduct is the reason for all the defaults made

--ultimately, it is the promoters who should personally and financially be held responsible for defaults of the firms, which are under their control.

--macroeconomic downturns losses to be allocated

--clear allocation of these losses is a result of a well-defined bankruptcy framework. Taxes, inflation, currency depreciation, expropriation, or wage or consumption suppression are the common practices of loss allocation. These could affect foreign creditors, small business owners, savers, workers, owners of financial and non-financial assets, importers, exporters.

 

Reference: https://www.pressreader.com/india/the-hindu/20200424/282376926725779

 

4. Most commodity prices will drop substantially in 2020: World Bank

 

—COVID-19 is projected to bring most commodity prices down substantially in 2020, the World Bank said in its ‘April Commodity Markets Outlook’, released on Thursday.

—Prices of energy and metals have been worst hit. While there has been only a moderate impact on the agricultural commodities outlook, supply chain disruptions and export restrictions and stockpiling by governments have raised food security concerns, it said.

 

About WB

— The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

—It comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). The World Bank is a component of the World Bank Group.

 

Reference: https://www.thehindu.com/business/markets/most-commodity-prices-will-drop-substantially-in-2020-world-bank/article31418191.ece