12 September 2013 Current Affairs

‘ National Food Security Bill ‘ Gets Approval From President

The National Food Security Bill 2013, which seeks to provide heavily-subsidised food grains to two-thirds of India’s 1.23 billion people, has now become an Act after President Pranab Mukherjee’s assent on 12 September.The Union Cabinet, headed by Prime Minister Manmohan Singh, on 19 March 2013 approved the National Food Security Bill. Lok Sabha on 26 August 2013 passed the National Food Security Bill 2013. The Upper House of the Parliament, Rajya Sabha on 2 September 2013 passed this Bill.The bill was introduced in Parliament in December 2011.Under the legislation, beneficiaries would get five kg of grain per person per month, including rice at Rs. 3 per kg, wheat at Rs. 2 per kg and coarse grains at Re 1 per kg.India will now join a select league of nations that guarantee majority of its population cheap foodgrains.At Rs 1,30,000 crore government support, the food security programme will be the largest in the world. It would require 62 million tonnes of foodgrains.

Union Cabinet Approved For Second Vehicle Assembly Building at SHAR

The Union Cabinet on 12 September  approved a second vehicle assembly building at the Satish Dhawan Space Centre, Sriharikota (SDSC-SHAR), to be realised in 42 months and at an estimated cost of Rs. 363.95 crore.The Cabinet Committee on Economic Affairs chaired by Prime Minister Manmohan Singh also approved a proposal to continue the Accelerated Irrigation Benefit Programme (AIBP) in the 12th Plan period.

Cabinet Approved Buying $ 4.3 billion World Bank Bonds

The Union Cabinet on 12 September gave the go-ahead to the Reserve Bank of India (RBI) to invest $4.3 billion in special bonds of the World Bank as it would help in securing additional funding from the multilateral lending agency for infrastructure development projects.Under the arrangement, the Reserve Bank of India will subscribe to special private placement of bonds by the IBRD, a lending arm of the World Bank.

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