PM to inaugurate India’s second Multi Modal

Terminal on Ganga at Sahibganj in Jharkhand

Multi-Modal Terminal will create direct employment and indirect employment in the region

The MMTs are a part of the government’s Jal Marg Vikas project (JMVP) that aims to develop the stretch between Varanasi to Haldia (West Bengal) for navigation of large vessels weighing up to 1500-2000 tonnes.

The objective behind the scheme is to promote inland waterways, primarily for cargo movement

Will also open up industries of Jharkhand and Bihar to the global market and to provide Indo-Nepal-Bangladesh and North-East cargo connectivity through waterways

This is the second of the three Multi Modal Terminals being constructed on river Ganga under Jal Marg Vikas Project (JMVP). Earlier, in November, 2018 the Prime Minister had inaugurated the MMT at Varanasi.

It will play an important role in transportation of domestic coal from the local mines in Rajmahal area to various thermal power plants located along NW-1.

It will work on PPP for greater efficiency

Jal Marg Vikas project

The Jal Marg Vikas Project (JMVP) for capacity augmentation of navigation on National Waterway-1 (NW-1) is being implemented by the support of World Bank.

One of the major problems for a commercially viable and safe navigation on NW-1 is low depth upstream of Farakka barrage due to low discharges from tributaries and difficult hydro morphological characteristics of the river Ganga.

The project will contribute in bringing down the logistics cost in the country and will provide an alternative mode of transport which will be environment friendly and cost effective.

It is being implemented by the Inland Waterways Authority of India (Ministry of Shipping).

The states that are being covered under the Project are Uttar Pradesh, Bihar, Jharkhand, West Bengal

National waterways

There are 111 officially notified Inland National Waterways (NWs) in India identified for the purposes of inland water transport,[1] as per The National Waterways Act, 2016. Out of the 111 NWs, 106 were created in 2016. The NW network covers around 20,275.5 km. NW-1, 2, & 3 are already operational.

Inland Waterway Authority of India

Created by Government of India on 27 October 1986, by an act of parliament for

development and regulation of Inland waterways for shipping and navigation.

The Authority primarily undertakes projects for development and maintenance of Inland

Waterway Terminal infrastructure on National Waterways through grant received

from Ministry of Shipping, Road Transport and Highways.

Work under MoSRTH

The head office is at Noida.

The Authority also has its regional offices at Patna, Kolkata, Guwahati and Kochi and sub-

offices at Prayagraj, Varanasi, Bhagalpur, Farrakka and Kollam

With more than 7,000 start-ups, the Delhi-NCR area now has the largest number of active start-ups in the country, pipping cities like Bengaluru, Chennai and Mumbai, according to a report by TiE Delhi-NCR and consulting firm Zinnov

As per the report ‘Turbocharging Delhi-NCR Start-up Ecosystem’, Delhi-NCR accounted for 23% of the start-ups with a cumulative value of $50 billion. The National Capital Region (NCR) includes cities such as Gurugram, Noida and Faridabad

The NCR is home to 10 unicorns, with at least 1

new unicorn emerging each year since 2013 A unicorn is a privately held startup company valued at over $1 billion.[1] The term was coined in 2013 by venture capitalist Aileen Lee

Start-upAn entity shall be considered a start-up up to 10 years from

its date of incorporation/registration.

The investment limit of angel investors to seek exemption

under the Income Tax Act, 1961 has been increased to Rs

25 crore from 10 Crore.

An entity would be considered as a startup up to a turnover

of Rs 100 crore as against the earlier limit of Rs 25 crore.

Chabahar PortIran’s Chabahar port is located on the Gulf of

Oman and is the only oceanic port of the country.

The port gives access to the energy-rich Persian Gulf nations’ southern coast.

WHY IMPORTANT :- The first and foremost significance of the Chabahar

port is the fact that India can bypass Pakistan in transporting goods to Afghanistan. Chabahar port will boost India’s access to Iran, the key gateway to the International North-South Transport Corridor that has sea, rail and road routes between India, Russia, Iran, Europe and Central Asia.

Chabahar port will be beneficial to India in countering

Chinese presence in the Arabian Sea Chabahar port will ensure in the establishment of a politically

sustainable connectivity between India and Afghanistan. It will provide significant boost in the import of iron ore, sugar

and rice to India. Bring down the cost of import of crude oil

Jammu and Kashmir has been, is and shall continue to be an integral part of India. Pakistan’s nefarious designs will never succeed because the people of India are united in their determination to preserve our territorial integrity, along with our core values of democracy, tolerance and unity in diversity,” said First Secretary Vimarsh Arya of the Ministry of External Affairs (MEA) in Geneva.

The Indian diplomat highlighted the discrimination faced by the minority religious communities and sects in Pakistan and stated that Islamabad had forgotten that “terrorism is the worst form of human rights abuse”.

Zingiber perenense has been discovered from the Peren

district of Nagaland,

Zingiber dimapurense was found in the Dimapur district

of the State.

Derivatives

What Is a Derivative?A derivative is a financial security with a value that is reliant upon or derived from, an underlying asset or group of assets—a benchmark. The derivative itself is a contract between two or more parties, and the derivative derives its price from fluctuations in the underlying asset.

The most common underlying assets for derivatives are stocks, bonds, commodities, currencies, interest rates, and market indexes. These assets are commonly purchased through brokerages.