Major Events in 2020 in India (May-August)

Important list of events that you need to know

May 2020

• Prime minister Narendra Modi announced a relief package of Rs. 20 lakh crores for various sectors that contributed towards the growth of the economy, majorly stressing on land, labor, liquidity and law. This package was announced under the influence of economic experts and to help the market survive this unexpected pandemic.

• Modi stressed on local products and asked the citizens of the country to be ‘Vocal About Local’ that will help the demand and supply chain to enhance the Indian economy.

•  A new definition for MSME was released by the Finance Minister, introducing an additional criterion of turnover as well as increasing the investment limit, and also removing the differentiation between manufacturing and services sector MSME.

• MUDRA-Shishu loans are launched to benefit the smallest of small credit takers. The RBI already gave a three-month moratorium to this loan scheme. Under MUDRA- Shishu loan, one can take a loan of up to Rs 50,000.

Read more: Major Events happened in 2020 in India

June 2020

• India ranked 179^thin the Environmental Performance Index 2020. India was placed at 148^th position in the world in the category ‘biodiversity & habitat.’ India was also placed at 106^th position for climate change mitigation.

• India has signed an MOU on “Energy Cooperation”with Denmark to develop a strong, deep and long-term co-operation between two nations in the power sector. As per the MoU, India & Denmark will also establish a Joint Working Group (JWG) for implementation of the identified areas.

• Indian government banned 59 Chinese mobile applications that were detrimental to the integrity of the country. The Ministry of Electronics and Information Technology, citing the power undersection 169A of the Information Technology Act, read the provisions of the Information Technology Rules 2009 and in view of arising threats, decided to block 59 apps.
• Prime Minister Narendra Modi launched the technology platform CHAMPIONS which stands for Creation and Harmonious Application of Recent Processes for Increasing the Output and National Strength. The portal is essential for creating the smaller units big by solving their grievances, encouraging, supporting, helping and handholding. It is aimed at being the one-stop-shop solution of MSME Ministry

 July 2020

• India and Bangladesh signed an agreement to form a 50:50 Joint Venture Company (JVC). This agreement is signed with an aim of working together in the LPG Business in Bangladesh. The JVC is expected to reduce the import prices of LPG and provide it to the people of Bangladesh at affordable prices.

• The World Bank signed a loan agreement of $400 million with the Government of India to provide support to the ‘Namami Gange Program.’ The loan amount is to clean the Ganga and transform it into a healthy river.

• India ranked 31^stin the INFORM Risk Index 2020 out of 191 countries that were judged. This report is produced by the United Nations Office for the Coordination of Humanitarian Affairs on behalf of all INFORM Partners.

• General Health Insurance Companies received approval to launch a short-term ‘Corona Kavach’ health policy from the Insurance Regulatory and Development Authority India. This short-term health policy will cover medical expenses incurred due to coronavirus disease.

Read more: Important schemes/policies launched in Budget 2020-21

August 2020

1. The Monetary Policy Committee of the Reserve Bank of India met on 4th, 5th and 6th August for its second meeting of 2020-21. During the second Monetary Policy meet, the MPC analysed the current & evolving macroeconomic and financial conditions and has decided to continue with the accommodative stance to revive growth as well as to mitigate the impact of COVID-19.

2. Prime Minister Narendra Modi announced the New Education Policy 2020 while addressing the nation on 7^thAugust 2020. His speech began with an address at the conclave on ‘Transformational Reforms in Higher Education under National Education Policy’ organised by the University Grants Commission and Ministry of Education.
3. Defence Minister Rajnath Singh launched the Naval Innovation and Indigenisation Organisation (NIIO). NIIO is a three-tiered organisation and it will enable its end users to interact with academia as well as industry for the promotion of innovation and indigenisation for self-reliance in defence.

4. The Indian Government has provisionally granted permission for the 13th edition of Indian Premier League’s (IPL’s) 2020 to be rescheduled in the United Arab Emirates (UAE)from September 19 to November 10, 2020, due to COVID-19 outbreak.

Conclusion

There are many more events that took place in the year 2020. In this article, we have noted some of the important and major events which occurred in the year. You will have to read more if you want to keep yourself updated on the matter of the current affair.

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