Top 5 Current Affairs: 25 March 2019

Jet Airways Founder and Chairman Naresh Goyal and his wife Anita Goyal have resigned from the board amid the reports of looming financial crisis in the airlines. The board of Jet Airways accepted their resignation. Naresh Goyal is presently in London and addressed all 23,000 employees from there.

Mar 25, 2019 17:27 IST
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Jet Airways Crisis: Explained

Jet Airways Founder and Chairman Naresh Goyal and his wife Anita Goyal resigned from the board on March 25, 2019 amid the reports of looming financial crisis in the airlines. However, the CEO of Jet Airways, Vinay Dube will stay on to steer the airline carrier out of the current financial crisis.

The board of Jet Airways accepted their resignation. Naresh Goyal is presently in London, and addressed all 23,000 employees from there. The Jet Airways was founded nearly 25 years ago by the Goyals in 1993.

Post their resignation, the Bank Led Interim Resolution Plan (BLIRP) came into effect for the revival of the airline. The board approved the invoking of entire 51 percent stake of Naresh Goyal in the airline for the conversion of USD 1 billion the outstanding debt.

What is minimum income guarantee scheme?

The President of the Indian National Congress, Rahul Gandhi on March 25, 2019 announced a minimum income guarantee scheme for the poorest 20 per cent of Indian families if voted to power.

The announcement was made following the meeting of the Congress Working Committee. The leading opposition party claims that under the scheme, 20 per cent of India’s most poor families will get Rs 72,000 yearly in their bank accounts.

The minimum income support proposal will be called ‘nyay’. The scheme aims to bring justice to the poor in the country. Under the Nyay scheme, the minimum income line will be Rs 12000.

India ranks 76th on WEF Global Energy Transition Index

India has jumped two positions to be ranked 76th on World Economic Forum’s global Energy Transition index. The annual list, released by the Geneva-based forum on March 25, 2019, ranks 115 economies on their ability to balance energy security and access with environmental sustainability and affordability.

Sweden retained its top spot on the list, followed by Switzerland and Norway in the second and third positions respectively. Among the major economies, the UK is ranked at the 7th position, Singapore at 13th, Germany at 17th, Japan at 18th and the United States at the 27th position.

India was found to be amongst the countries with high pollution levels and relatively high CO2 intensity in its energy system. Despite this, the report found that India has made significant strides to improve energy access in recent years and currently scores well in the area of regulation and political commitment towards energy transition.

IAF inducts 4 Chinook Helicopters

The first batch of four Boeing heavy-lift Chinook Helicopters, CH-47F (I) was inducted in Indian Air Force (IAF) on March 25, 2019 at Air Force Station, Chandigarh, in Squadron No 126 Helicopter Flight (Featherweights).

The Chinook helicopters arrived at the Mundra airport in Gujarat from the United States on February 10, 2019. These multirole helicopters will be used in life-saving role during Humanitarian Assistance and Disaster Relief (HADR) missions. They will operate alongside the Russian machines. The Indian Air Force is currently using Mi-17 and Mi-26 helicopters, which were manufactured by Russia.

The remaining eleven Chinook helicopters are expected to be delivered by 2023.

Italy joins China’s Economic Silk Road project,

Italy on March 23, 2019 signed a "non-binding” protocol with China to take part in the nation’s Belt and Road Initiative (BRI), which aims to link China with Europe.

With the move, Italy has become the first G-7 country to sign up for the massive project, which is seen as a new Silk Road that will have trade links stretching from Asia to Europe.  In doing so, Italy has sparked unease in the United States and its European Allies, who have previously expressed concern over China's growing global influence.

The Belt and Road Initiative (BRI) or the Silk Road Economic Belt and the 21st-century Maritime Silk Road is a development strategy adopted by the Chinese government involving infrastructure development and investments in 152 countries and international organisations in Europe, Asia, Middle East, Latin America and Africa.

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