Daily Current Affairs 03-06-2020

Table of Contents:

1. G7 Summit
2. NISARGA
3. WORLD BICYCLE DAY
4. ANTIFA
5. WHO FUNDING
6. MANDATORY PUBLIC PROCUREMENT OF CHEMICALS
7. BIMAL JULKA COMMITTEE
8. CENTRAL EMPLOYMENT GUARANTEE COUNCIL
9. REAL-TIME ELECTRICITY MARKET (RTM)
10. A3i (TYPE OF CORONAVIRUS)

1. G7 Summit

US President Donald Trump has postponed the G7 Summit till September. He has expressed his desire to expand the Group to G10 or G11, including India and three other nations Russia, Australia and South Korea to the grouping of the world's top economies.

About:

• The G-7 or ‘Group of Seven’ are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

• The G-7 nations meet at annual summits that are presided over by leaders of member countries on a rotational basis. The summit is an informal gathering that lasts two days, in which leaders of member countries discuss a wide range of global issues.

• The G-7 does not have a formal constitution or a fixed headquarters.

• The decisions taken by leaders during annual summits are non-binding.

Timeline:

• It is an intergovernmental organisation that was formed in 1975 by the top economies of the time as an informal forum to discuss pressing world issues.

 

• Canada joined the group in 1976, and the European Union began attending in 1977.

 

• The G-7 was known as the ‘G-8’ for several years after the original seven were joined by Russia in 1997. The Group returned to being called G-7 after Russia was expelled as a member in 2014 following the latter’s annexation of the Crimea region of Ukraine. 

Facts : G-7 vs G-20

1. The G-20 is a larger group of countries, which also includes G7 members.
2. The G-20 was formed in 1999, in response to a felt need to bring more countries on board to address global economic concerns.
3. Apart from the G-7 countries, the G-20 comprises Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Russia, Saudi Arabia, South Africa, South Korea, and Turkey.
4. Together, the G-20 countries make up around 80% of the world’s economy. As opposed to the G-7, which discusses a broad range of issues, deliberations at the G-20 are confined to those concerning the global economy and financial markets.

Source : Indian Express

2. NISARGA

On the western coast of India, Cyclone Nisarga is headed towards the coastline of north Maharashtra and south Gujarat.