Current Affairs 11 July

  • Donald Trump threatens to pull tax exemption for schools, colleges

In his push to get schools and colleges to reopen this fall, President Donald Trump is again taking aim at their finances, this time threatening their tax-exempt status. Donald Trump said on Twitter on Friday he was ordering the Treasury Department to re-examine the tax-exempt status of schools that he says provide “radical indoctrination” instead of education. “Too many Universities and School Systems are about Radical Left Indoctrination, not Education,” he tweeted. “Therefore, I am telling the Treasury Department to re-examine their Tax-Exempt Status and/or Funding, which will be taken away if this Propaganda or Act Against Public Policy continues. Our children must be Educated, not Indoctrinated!”

  • ‘Covid-19 biggest test of robustness, resilience of our economic system’: RBI Governor

Covid-19 is the worst health and economic crisis in the last 100 years with unprecedented negative consequences for output, jobs and well being, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Saturday. “The pandemic has dented the existing world order, global value chains, labour and capital movements across the globe,” Das said while addressing the 7th SBI Banking and Economics Conclave. The RBI Governor said that from February 2019 till the onset of Covid-19 in the country, the repo rate was cut on a cumulative basis by 135 basis points. The move was taken primarily to tackle the slowdown in growth which was visible at that time, he said. The central government had no outstanding loans in the prior week, news agency Reuters reported. State governments had 70.04 billion rupees loans from the RBI in the week ended July 3, compared with 34.16 billion rupees in the previous week, the release showed.

  • WHO Advance Team Heads To China To Set Up Probe Into Coronavirus Origin

A two-member advance team of World Health Organization (WHO) experts has left for China to organise an investigation into the origins of the novel coronavirus behind a pandemic that has killed more than 550,000 people globally, the UN agency said on Friday. The virus is believed to have emerged in a wholesale market in the central Chinese city of Wuhan late last year after jumping the species barrier from the animal kingdom to infect humans. The United States, the WHO’s largest WHO donor, this week notified the agency that it was withdrawing in a year’s time after accusing it of being too close to China and not doing enough to question Beijing’s actions at the start of the crisis.

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