15-06-23 Daily-Odisha-OPSC Current Affairs

The debt level of Odisha is now within stipulated limit and it is expected to increase by 4% by the end of financial year 2026-27, according to a status paper published by the Odisha Finance Department on .

As per the report, the total outstanding public debt of the State as per the revised estimate for the financial year 2022-23 stood at Rs 97,037 crore which is 12.7% of the States Gross Domestic Product (GSDP). Over the next three years, total public debt is expected to increase to approximately 16.7% of GSDP in 2026-27, which will be within the stipulated limit of 25%.

The Fifteenth Finance Commission and Odisha FRBM Act, 2005 prescribe for limiting the debt to GSDP ratio within 25%. The current debt level of Odisha is within the stipulated debt limit. Besides, the debt stock is considerably lower than that of the Central Government which is 57% of GDP as per the Union Budget.

The Government has expected that the total debt stock will increase to Rs 1,12,882 crore by the end of FY 2023-24 and again it will go up to Rs 1.40 lakh crore in 2024-25, Rs 1.72 lakh crore by 2025-26 and may rise to Rs 2.09 lakh crore by the end of 2026-27.

The Odisha Government has not resorted to open market borrowing during 2022-23 because of funds from other low cost sources like the Odisha Mineral Bearing Areas Development Corporation (OMBADC) and Compensatory Afforestation Fund Management and Planning Authority (CAMPA).

The loan from these dedicated funds is available at interest rates 2 to 2.5% lower than the open market borrowing (OMB). The State Government can borrow up to 60 percent of the surplus fund available in these funds.

The open market borrowing stood at Rs 24,058.07 crore. As per 2022-23 revised estimate, the share of open market borrowing in total debt of the State is around 24.8%. The share of the open market borrowing has gone down from 30% in FY 2021-22 to 24.8% in FY 2022-23 and is expected to decrease further in the coming financial year.

INDIAN NAVY is conducting Julley Ladakh (Hello Ladakh), an outreach programme to Ladakh to increase awareness about the service in the pristine state and to engage with youth and civil Society there. Towards this a 5000km Motorcycle Expedition was flagged off by VAdm Sanjay Jasjit Singh, Vice Chief of Naval Staff, from the National War Memorial on 15 Jun 23. The Navy had previously made similar effort in the North East that was hugely successful. The Indian Navy had also undertaken theSam No Varunahcar expedition to engage with citizens in all the coastal states.

The main objectives of the current initiative in the Northern Territory include: –

Celebrate Azadi ka Amrit Mahotsav (75 years of Indian Independence).

Conduct Awareness drives at Schools/ Colleges in Ladakh region about the career opportunities Indian Navy offers including the Agnipath Scheme.

Motivate Youth to join the Indian Navy.

Showcase Nari Shakti, an initiative of Prime Minister Shri Narendra Modi, by including Women Officers and spouses.

Interact with naval veterans and Veer Naris in the region.

The scaffold is an animal-derived Class D Biomedical Device that can rapidly heal skin wounds at low-cost with minimum scarring.

IDC approves indigenous animal tissue scaffold for scar-free skin wound healing.

The scaffold is an animal-derived Class D Biomedical Device that can rapidly heal skin wounds at low-cost with minimum scarring.

Nadu Minister of Youth Welfare and Sports Development, Udayanidhi Stalin, inauguratedthe Squash World Cup in Chennai.

The Squash World Cup is being held from June 13 to June 17, at Express Avenue, Royapetta in Chennai.

Eight countries are participating in the championship including India, China, Japan, Malaysia and Australia, South Africa, Egypt.

The proponents of the agreement believed it would help prevent the revival of Irans nuclear weapons program and reduce conflict with regional rivals such as Israel and Saudi Arabia.

The countries with the highest prevalence of modern slavery include North Korea, Eritrea, Mauritania, Saudi Arabia, Turkey, and Tajikistan.

The countries with the lowest prevalence include Switzerland, Norway, Germany, Netherlands, and Sweden.