9th Oct, 2020

Poverty and shared Prosperity 2020: Reversals of Fortune

Recently, Poverty and Shared Prosperity Report was released. 

Released by: The World Bank biennially

According to the report, Global extreme poverty is expected to rise for the first time in 20 years because of the disruption caused by COVID-1

The report provides the latest and most accurate estimates on trends in global poverty and shared prosperity.

For more than two decades, extreme poverty was steadily declining. 

Now, for the first time in a generation, the quest to end poverty has suffered its worst setback.

The pandemic may push another 88 million to 115 million into extreme poverty or having to live on less than $1.50 per day. 

Some 9.1% to 9.4% of the world will be affected by extreme poverty in 2020.

Natural Gas Marketing Reforms approved 

The Union Cabinet has approved ‘Natural Gas Marketing Reforms’ to move towards gas based economy.

Aim of the Policy: 

(1)To provide standard procedure for sale of natural gas in a transparent and competitive manner;

(2) To discover market price by issuing guidelines for sale by contractor through e-bidding.


(1) This will bring uniformity in the bidding process across the various contractual regimes and policies;

(2) Ambiguity shall be removed;

(3) It shall contribute towards ease of doing business. 

Affiliate companies can also participate in the bidding process to make it more open and transparent. 

The policy will also grant marketing freedom to the Field Development Plans (FDPs) of those Blocks in which Production Sharing Contracts already provide pricing freedom.

Pusa Decomposer to be used on trail basis

According to Environment Ministry, Pusa Decomposer will be used on a trial basis in Punjab, Haryana, Uttar Pradesh and Delhi for 2020.

The burning of paddy stubble has been a cause of concern for the past several years as it contributes to air pollution. 

It is a common practice in October and November across North West India, primarily in states of Punjab, Haryana, and Uttar Pradesh. 

This is done to quickly clear crop residue from their fields before planting the rabi wheat crop.

Pusa Decomposer

‘Pusa Decomposer’ is developed to tackle the issue of stubble burning. 

Developed by: Indian Agriculture Research Institute (IARI).

It is a fungi-based liquid solution that can soften hard stubble so that it can be easily mixed with soil in the field to act as compost.

It will also help in retaining the essential microbes and nutrients in soil that are otherwise damaged due to the burning. 

Nobel Prize for Literature 2020 announced 

The 2020 Nobel Prize for Literature has been awarded to American poet Louise Glück.

A professor at Yale University, Glück made her debut in 1968 with her collection titled ‘Firstborn’. 

She is seen as one of the most prominent poets and essayists in American contemporary literature.

She won the Pulitzer Prize in 1993 for her collection The Wild Iris and the National Book Award for her latest collection, Faithful and Virtuous Night, in 2014.

She is the fourth woman to win the Nobel Literature Prize in the past decade.