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Important Current Affairs 4th June 2020

National

Government launches Electronics Manufacturing Scheme 2.0 (Outlay- Rs 50,000 Crore)

The Ministry of Electronics and Information Technology (MeitY) has launched the Electronics Manufacturing Scheme 2.0 with an outlay of Rs. 50,000 crore (approximately USD 7 billion). It includes three sub-schemes.

• The PLI (Production Linked Incentive)Scheme shall extend an incentive of 4% to 6% on incremental sales (over base year) of goods manufactured in India and covered under the target segments, to eligible companies, for a period of five years subsequent to the base year.

• Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) andThe SPECS(Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors)shall provide financial incentive of 25% on capital expenditure for the identified list of electronic goods, i.e., electronic components, semiconductor/ display fabrication units, Assembly, Test, Marking and Packaging (ATMP) units, specialized sub-assemblies and capital goods for manufacture of aforesaid goods.

• The EMC 2.0 (Modified Electronics Manufacturing Clusters) shall provide support for creation of world class infrastructure along with common facilities and amenities, including Ready Built Factory (RBF) sheds / Plug and Play facilities for attracting major global electronics manufacturers, along with their supply chains.

International

US President Trump invites PM Modi for G7 meet

• US President Donald Trump has invited PM Narendra Modi for the G7 meeting during telephonic conversation held between both the leaders on June 2, 2020.

• PM Modi and President Trump discussed the issue of C-19 , G-7 meeting, Indo-China border and others. The G7 meeting has been rescheduled to September 2020.

India to be re-elected as non-permanent member of UNSC

• India to be soon re-elected as a UNSC non-permanent member. The United Nations Security Council will hold its elections in June 2020 and India is highly expected to win the elections from the Asia Pacific seat.

• India is the sole contender from this region and its name was proposed by all the Asia Pacific member countries.

Banking and Economy

Facebook to acquire 9.9% stake in Jio Platforms via Jaadhu Holdings

• Facebook will acquire this stake in Jio Platforms via a new entity named Jaadhu Holdings LLC. According to a submission made to the Competition Commission of India, Jaadhu Holdings, LLC is an indirect wholly owned subsidiary of Facebook, Inc.

• Jaadhu is a newly incorporated company formed in March 2020 under the laws of the State of Delaware, US. Jaadhu is not engaged in any business in India or anywhere in the world.

Obituary

NBA Hall Of Famer Wes Unseld Passes Away At 74

• NBA legend Wes Unseld, one of the greatest American professional basketball player,  has passed away at the age of 74.

• Unseld is universally considered as the greatest player in league’s history.

• He led his franchise ‘Washington Wizards’ (the then Baltimore Bullets) to the NBA Championship in 1978.

Appointments and Resignations

Gaitri Kumar appointed India’s next High Commissioner to UK

• Gaitri Kumar has been appointed as the next High Commissioner of India to the United Kingdom.

• She is presently serving as the Ambassador of India to the Kingdom of Belgium, the Grand Duchy of Luxembourg and the European Union.

Ex Google CFO Patrick Pichette Appointed as new Chairman of Twitter’s Board

• Twitter Inc has appointed Patrick Pichette, a former chief financial officer (CFO) at Google, as the new chairman of the company’s board.

• It is the first time in Twitter’s history that an outsider will preside over the group. Pichette will replace Omid Kordestani.

Sibi George appointed India’s next Ambassador to Kuwait

• Sibi George has been appointed as the next Ambassador of India to the State of Kuwait.

• He was presently serving as the Ambassador of India to Switzerland.

V N Datt takes over as C&MD, National Fertilizers Limited

•  Virendra Nath Datt has taken over as the Chairman and Managing Director of National Fertilizers Limited (NFL). Datt has been serving as the Director (Marketing) of the Company since October 2018.

•  As Director (Marketing) at NFL, Datt is credited with sustained growth in fertilizer sale of the company from 43 Lakh MT in 2017-18 to 57 Lakh MT in 2019-20.

Raveesh Kumar becomes new Ambassador of India to Finland

• Raveesh Kumar has been appointed as the next Ambassador of India to Finland. He is presently serving as the Joint Secretary in the Ministry.

• He is an IFS officer of 1995 batch.

Days

International Day of Innocent Children Victims of Aggression

• International Day of Innocent Children Victims of Aggression is observed globally on 4th June every year. This day affirms the UN’s commitment to guard the rights of children.

•  This day is to acknowledge the pain suffered by children throughout the planet who are the victims of physical, mental and emotional abuse. The main aim of celebrating today is to spread the notice about the pain and sufferings faced by the victims as children.

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