Daily GK Update: 9th January 2020

CCI Releases ‘Market Study on E-commerce in India’

  • The Competition Commission of India(CCI) has released a Report titled ‘Market Study on E-commerce in India: Key Findings and Observations’.
  • The E-Commerce Sector was established in 2009.However, the sector gained momentum in 2014.
  • In 2017, the sector held 3,500 million USD investment.There are around 4757 E-commerce start-ups in India today in 2019.
  • The revenue from the E-Commerce sector is growing at the rate of around 51%.
  • In July 2018, the number of online transactions in the E-Commerce sector was 1 million to 1.2 million per day.

Source: Factly

Nirbhaya funds: IP based video surveillance in railways & Fast Track Courts

  • In order to enhance security at Railway stations which are major hubs of transportation, Indian Railways is in the process of installing Internet Protocol (IP) based Video Surveillance System (VSS) at stations, that is, waiting halls, reservation counters, parking areas, main entrance/ exit, platforms, foot over bridges, booking offices etc.
  • Railway Board has approved works for provision of Video Surveillance System covering 983 stations over Indian Railways under Nirbhaya funds.
  • This year a budget of Rs. 250 crore was allotted to Indian Railways from Nirbhaya fund for installation of video surveillance system.

Source: Press Information Bureau

India floats first tender to build solar projects in Kashmir

  • India issued a tender on Tuesday to build 7.5-gigawatt of solar power projects in the insurgency hit state of Jammu and Kashmir, state-run Solar Energy Corp. of India said on its website.
  • The request is part of a larger plan to build 23 gigawatts of solar capacity in Ladakh, a region in the country’s extreme north bordering China. The capacity is offered in three tranches of 2.5 gigawatts each to be located in Kargil town and rest in Leh district.
  • Solar power developers will set up the projects, including the transmission network up to the interconnection point at their own cost, according to the tender document.

Source: The Economic Times

India Pulses And Grains Association Announces ‘The Pulses Conclave 2020’

  • India Pulses and Grains Association (IPGA), the nodal body for India’s pulses trade and industry today announced that the fifth edition ‘The Pulses Conclave’, their biennial global pulses conference will be held from Feb. 12th to 14th, 2020 at Amby Valley City in Lonavala, Maharashtra.
  • IPGA expects close to 1500 trade stakeholders from India and key pulses exporting countries like the USA, Australia, Canada, Myanmar, Ethiopia, Uganda, Tanzania, Mozambique, Malawi, etc. to participate in ‘The Pulses Conclave 2020’ (TPC 2020).
  • The Pulses Conclave 2020, as a part of its agenda, will not just discuss increasing domestic production and consumption but will also bring to fore other areas of the trade like improving processing efficiencies, increasing consumption, exports, value addition, protein extraction, post-harvest crop management, etc.

Source: Business World

World Bank pegs India’s growth for FY20 at 5%

  • The World Bank on Wednesday cut India’s growth for financial year 2020 to 5% from 6% estimated earlier, a day after the country’s statistics office pegged growth in the current financial year at 5%, the lowest in 11 years.
  • The multilateral lender expects the country’s growth to recover only slightly to 5.8% in the next fiscal year.
  • The bank’s Global Economic Prospects report released on Wednesday cited a lingering weakness in credit from non-banking financial companies (NBFCs) as the main cause for the downgrade.

Source: The Economic Times

Scientists developed a viable scientific method to cultivate Indian Pompano fish in ponds

  • For the first time in India, the Central Marine Fisheries Research Institute (CMFRI) has developed a viable scientific method to cultivate Indian Pompano fish in ponds. Pompanos are marine fishes. The Indian government began the scientific study on Pompano in 2014.
  • The method will be of an alternative to shrimp. The funding was provided by the National Fisheries Development Board (NFDB). With this, it will now be officially cultivated in ponds of Vishakhapatnam.
  • The experiment recorded 750 grams of meat per fish in open ponds and 1 kg in cages. The new scientific invention by CMFRI recorded 95% of the survival of the fishes. The method provided 3 tonnes per acre yield and a profit of 25% to 30% of input cost per acre.
  • The scientists also said that growing Pompano along with shrimp will increase the survival rate of the shrimp as the Pompanos breaks the life cycle of viruses that attack shrimps.
  • The government is currently planning to implement inter-cropping of Shrimp and Pompanos.