Daily Current Affairs 16 May 2020 With Video Lecture

INAE invites nomination for INAE Young Entrepreneur Award 2020

  • Indian National Academy of Engineering (INAE), Gurgaon, an autonomous institute of the Department of Science & Technology (DST), has invited nominations for INAE Young Entrepreneur Award 2020. The award would carry a citation and a cash prize of Rs 2 lakhs to the selected individual candidate or to be shared by the group of individuals not exceeding three persons.
  • The award presented to upto two candidates in a year has been instituted to encourage and recognize innovation and entrepreneurship among young engineers. Engineering innovations and concepts that have been actually realized and implemented in the industry either in new processes or products are preferred, and Indian citizens not older than 45 years as on 1st of January 2020 are eligible for consideration.
  • Both innovation and entrepreneurship together would be considered important and young innovators from academia/research organization or industry whose novel engineering/technology ideas have been translated into successful start-up enterprises would be given preference.
  • The institute has sent a letter seeking nominations for INAE Young Entrepreneur Award 2020 to INAE Fellows. In addition, nominations have also been invited from 372 Incubation Centres and Start-ups all over India supported by various Government agencies, besides 29 IIT Research Parks, like incubators supported by DST, incubators under National Science and Technology Entrepreneurship Development Board (NSTEDB) supported by DST, Science & Technology Entrepreneurship Park (STEP) supported by DST, incubators supported by Department of Biotechnology (DBT), incubators supported by Department of Electronics & Information Technology (Deity), Incubators under Micro, Small and Medium Enterprises (MSME) and Incubators supported by Ministry of Human Resource Development (MHRD).  Apart from seeking nominations, an advertisement has also been published in CII Communique issue for May 2020.
  • The nominations have been launched at INAE website, and last date of receipt of nominations is June 30, 2020. Interested candidates can visit www.inae.infor further details.

ARCI scientists develop next-generation biodegradable metal implants

  • Scientists at the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI) and STCIMS, Thiruvananthapuram both autonomous institutes under the DST, have jointly developed new generation Iron-Manganese based alloys for biodegradable metal implants for use in humans.
  • Biodegradable materials (Fe, Mg, Zn, and polymer), which can participate in the healing process and then degrade gradually by maintaining the mechanical integrity without leaving any implant residues in the human body are better alternatives to currently used metallic implants which remain permanently in the human body.

$1 Billion from World Bank to Protect India’s Poorest from COVID-19

  • The Government of India and the World Bank today signed a $750 million of $1 billion proposed for Accelerating India’s COVID-19 Social Protection Response Programme to support India’s efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic.
  • This takes the total commitment from the Bank towards emergency COVID-19 response in India to $2 billion. A $1 billion support was announced last month towards immediate support to India’s health sector.
  • This new support will be funded in two phases – an immediate allocation of $750 million for fiscal year 2020 and a $250 million second tranche that will be made available for fiscal year 2021.

FM’s Announcements

  • The 3rd Tranche of measures to strengthen Infrastructure Logistics, Capacity Building, Governance and Administrative Reforms for Agriculture, Fisheries and Food Processing Sectors
  • Smt. Sitharaman said that the announcements made today will provide long-term and sustained impact on lives of farmers, fishermen, food processing micro enterprises.
  • During the press conference, the Union Finance Minister also announced following measures for Governance and Administrative Reforms for Agriculture Sector:-
  • Amendments to Essential Commodities Act to enable better price realisation for farmers
    • The Government will amend Essential Commodities Act. Agriculture food stuffs including cereals, edible oils, oilseeds, pulses, onions and potato shall be deregulated. Stock limit will be imposed under very exceptional circumstances like national calamities, famine with surge in prices. Further, No such stock limit shall apply to processors or value chain participant, subject to their installed capacity or to any exporter subject to the export demand.
  • Agriculture Marketing Reforms to provide marketing choices to farmers
    • A Central law will be formulated to provide –
    • adequate choices to the farmer to sell their produce at remunerative price;
    • barrier free Inter-State Trade;
    • A framework for e-trading of agriculture produce.
  • Agriculture Produce Pricing and Quality Assurance:
    • The Government will finalise a facilitative legal framework to enable farmers to engage with processors, aggregators, large retailers, exporters etc. in a fair and transparent manner. Risk mitigation for farmers, assured returns and quality standardisation shall form integral part of the framework.

COVID19 current update in India


  • What does INAE Awards stands for?
  • Indian National Academy of Engineering
  • Indian National Academy of Enterprises
  • Indian National Academy of Entrepreneur 
  • None

Answer: A

Chetan Apurav

    Senior Lecturer, General Studies, SSBCrackExams, Passionate teacher, B.Tech in Mechanical Engineering, Cleared AFCAT, INET, 3 times SSB recommended.

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