Economy Current Affairs

for Govt. Exam

Part-2

 

 

 Index

1.Goods & Services Tax Council

2.Input tax credit

3.GST Network (GSTN)

4.NATIONAL ANTI-PROFITEERING AUTHORITY (NAA)

5.Ghosting

6.Gross Fiscal Deficit (GFD)

7.GENERALIZED SYSTEM OF PREFERENCES

8.Excise Duty

9.India’s first fixed income Exchange Traded Fund (ETF) 

10.Taxation Laws (Amendment) Bill, 2019

11.Fugitive Economic Offenders act

12.Anti-Dumping Duty

13.Gross Budgetary Support (GBS)

14.National Financial Reporting Authority (NFRA)

15.Dividend Distribution tax

16.GEOGRAPHICAL INDICATION

17.Longest Electrified Rail Tunnel

18.Real-time Train Information System (RTIS)

19.Head on Generation Trains

20.Mountain Railways of India

21.Dedicated Freight Corridor Corporation of India

22.Electric Vehicle (EV) charging stations

23.Content on demand by Railway

24.Corporate Train Model of Indian Railways

25.Avataran

26.THE NATIONAL LOGISTICS POLICY

27.PRAKASH (Power Rail Koyla Availability through Supply Harmony) portal

28.Electric vehicles (EVs)

29.Jute Industry

30.India’s Vegetable Oil Economy

31.Industry 4.0

32.Index of Eight Core Industries

33.PROJECT SURE 

34.Steel Scrap Recycling Policy

35.National logistics policy

36.Maharatna, Navratna and Miniratna status

37.WHOLESALE PRICE INDEX (WPI)

38.EIGHT CORE INDUSTRIES

39.Consumer Price Index (CPI)

40.CHC Farm Machinery App

41.Agroecology

42.Protection of Plant Varieties and Farmers’ Rights (PPV&FR) Act

43.Integrated Fertilizer Management System (iFMS)

44.Nano fertilizer

45.Vertical Farming

46.Year-end review: Ministry of Agriculture

47.Farmers Innovation Fund

48.Zero Budget Natural Farming (ZBNF)

49.Action Points for Agriculture, Irrigation and Rural Development

50.The Soil Health Card scheme

51.National Organic food Festival

52.PM-KISAN Scheme

53.Pradhan Mantri Kisan Sampada Yojana

54.Market Intelligence and Early Warning System 

55.Pesticides Management Bill, 2020

56.Crop Diversification Programme (CDP)

57.Kisan Rath App

58.New Features of e-NAM platform

59.Agriculture Export Policy

60.Pradhan Mantri Fasal Bima Yojana (PMFBY)

61.Fisheries and Aquaculture Development Fund (FIDF)

62.Digital Payments Index (DPI)

63.Enhanced Access and Service Excellence (EASE 3.0)

64.VIX (Volatility Index)

65.FISCAL PERFORMANCE INDEX (FPI)

66.LEADS Index

67.Global Competitiveness Index

68.India Innovation Index 2019

69.Global Hunger Index 2019 (GHI)

70.State Rooftop Solar Attractiveness Index (SARAL)

71.Human Development Index 2019

72.State Energy Efficiency Index 2019

73.Global Social Mobility Index 

74.Global Go to Think Tank Index

75.Global Intellectual Property Index

76.Ease of Doing Business Report

77.India Skills Report 2020

78.Market Study on E-commerce in India: Competition Commission of India (CCI)

79.World Gold Council and “World Gold Outlook 2020”

80.UN World Economic Situation Prospects (UNWESP) report 2020

81.National Infrastructure Pipeline (NIP)

82.Global Economic Prospects

83.Global Investment Trends Monitor’ Report

84.FOREIGN DIRECT INVESTMENT (FDI)

85.V G KANNAN COMMITTEE

87.Insurance Regulatory and Development Authority of India (IRDAI)

88.Paryatan Parv

89.Bureau of Indian Standards (BIS)

90.Khadi and Village Industries Commission (KVIC)

91.Log­X

92.Rashtriya Gokul Mis­sion and Livestock Census

93.Unnati MGNREGA

94.Kisan Pathshala

95.ANGAN (Augmenting Nature by Green Affordable New-habitat)

96.National Animal Disease Control Programme (NACDP)

97.PM’s Economic Advisory Council reconstituted

98. PACEsetter Fund Programme

99.“Centre of Excellence” for Citrus Fruit

100.Pashmina Products Receive BIS Certification

101.PAiSA

102.Harmonized System Code

103.eBक्रय

104.Follow on public offer (FPO)

105.Core Investment Companies (CIC)

106.Kerala fiber optic network project

107.QR Code

108.The Code on Wages 2019

109.National Food Security Mission (NFSM) – Oilseeds and Oil Palm

110.Strategic Disinvestment

111.Industrial Relations Code Bill

112.National Industrial Corridor Development and Implementation Trust

113.Hathkargha Samvardhan Sahayata Yojana

114.Milk Production in India

115.Extra Neutral Alcohol (ENA)

116.AYUSH Grid

117.Intellectual Property Appellate Board (IPAB)

118.International Financial Services Centres (IFSC)

119.AIM-SIRIUS Programme

120.Infrastructure Investment Trusts (InvIT)

121.Home delivery of services scheme

122.Recycling of Ships Act

123.GeM Samvaad

124.Quality Council of India (QCI)

125.ICEDASH & ATITHI

126.North East Gas Grid project

127.Green Credit Scheme

128.Integrated Road Accident Database (IRAD)

129.Mandatory Gold Hallmarking In India

130.Saksham

131.HURL

132.National Start-up Advisory Council

133.UNAIDS

134.Paris Convention for Protection of Industrial Property

135.GATI Portal

136.Key Highlights of Union Budget

137.Another major port proposed

138.Mandatory declarations on pre-packaged commodities

139.Web Portal for Star Rating of Mines

140.Financial year and Fiscal Year

141.India: First country to made entire Haj process Digital

142.US removed “developing” tag for India

143.Third Global Ministerial Conference on Road Safety

144.Mission Purvodaya

145.Pradhan Mantri Ujjwala Yojana 

146.Women Transforming India Awards

147.Additional Tier-1 bonds or AT-1

148.Regional Connectivity Scheme – UDAN

149.Sustainable Alternative towards Affordable Transportation (SATAT)

150.Modified New Pricing Scheme -III (NPS-III)

151.Prime Minister’s National Relief Fund (PMNRF)

152.PM-CARES Fund

153.Domestic Manufacturing of Medical Devices

154.Facebook -Reliance Jio Deal Significance

155.Nutrient Based Subsidy (NBS) rates and its fixation

156.Temporary Ration Cards

157.Special Drawing Rights of IMF

158.TRIFED

159.Essential Commodities Act 1955

160.Mahua flowers

161.Telecom Disputes Settlement and Appellate Tribunal (TDSAT)

162.Unemployment rate in India sees Significant Increase

163.Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)

164.Price Monitoring & Resource Unit (PMRU)

165.India’s Foreign Trade

166.Greenfield and Brownfield projects

167.CORPORATE SOCIAL RESPONSIBILITY (CSR)

168.GLOBAL GDP RANKINGS

169.THE RESILIENT KERALA PROGRAM

170.FASTAGS

171.NATIONAL BIOFUEL POLICY

172.BIOFUEL DAY AND RUCO INITIATIVE

173.CENTRAL EQUIPMENT IDENTITY REGISTER (CEIR)

174.DIGITAL COMMUNICATIONS COMMISSION

175.FOREIGN CONTRIBUTION (REGULATION) ACT, 2010

176.Consumer Protection Bill, 2019

177.The National Mineral Policy 2019

178.FOREIGN EXCHANGE RESERVES

179.SMART INDIA HACKATHON 2019

180.PERIODIC LABOUR FORCE SURVEY (PLFS)

181.NATIONAL STATISTICAL OFFICE (NSO)

182.BHARAT STAGE

183.NATIONAL HIGHWAYS AUTHORITY OF INDIA

184.NATIONAL MINERAL DEVELOPMENT CORPORATION (NMDC)

185.NATIONAL ANIMAL DISEASE CONTROL PROGRAMME FOR FOOT AND MOUTH DISEASE (FMD) AND BRUCELLOSIS

186.ONE NATION, ONE RATION CARD

187.SECURITIES APPELLATE TRIBUNAL

188.PRIME MINISTER’S ECONOMIC ADVISORY COUNCIL (PMEAC)

189.ECONOMIC CENSUS

190.UTKARSH 2022

191.GAFA TAX

192.Nobel Prize in Economics 2019

193.National Technical Textiles Mission

194.SFURTI Scheme

195.Green India Mission (GIM)

196.Vivad Se Vishwas Scheme

197.Merchandise Exports from India Scheme

198.e-assessment Scheme

199.NIRVIK Scheme

200.Steel Import Monitoring System (SIMS)

 

 

 

 

 

GST

1.Goods & Services Tax Council

Why in news?

• GST Council puts proposal to vote for first time, fixes 28% tax for lottery across India

About GST Council:

• Goods & Services Tax Council is a constitutional body for making recommendations to the Union and State Government on issues related to Goods and Service Tax.
• The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2016, for introduction of Goods and Services tax in the country was introduced in the Parliament and passed by Rajya Sabha on 3rd August, 2016 and by Lok Sabha on 8th August, 2016.
• The President of India accorded assent on 8th September, 2016, and the same was notified as the Constitution (One Hundred and First Amendment) Act, 2016.
• As per Article 279A (1) of the amended Constitution, the GST Council has to be constituted by the President within 60 days of the commencement of Article 279A.
• As per Article 279A (4), the Council will make recommendations to the Union and the States on important issues related to GST.

Members:

• As per Article 279A of the amended Constitution, the GST Council which will be a joint forum of the Centre and the States, shall consist of the following members: –
• The Union Finance Minister (Chairperson)
• The Union Minister of State in charge of Revenue or Finance
• The Minister in charge of Finance or Taxation or any other Minister nominated by each State Government

2.Input tax credit

Why in news?

• gets cracking on GST evaders with data analytics. The sources said to curb input tax credit (ITC) frauds, data analytics is to be done on all refunds since 2017.

What is input credit?

• Input credit means at the time of paying tax on output, you can reduce the tax you have already paid on inputs.
• Say, you are a manufacturer – tax payable on output (final product) is Rs 450 tax paid on input (purchases) is Rs 300
• You can claim INPUT CREDIT of Rs 300 and you only need to deposit Rs 150 in taxes.

Who can claim Input Tax Credit?

• ITC can be claimed by a person registered under GST only if he fulfils all the conditions as prescribed.
• The dealer should be in possession of tax invoice
• The said goods/services have been received
• Returns have been filed.
• The tax charged has been paid to the government by the supplier.

How Input Tax Credit can be used?

• Credit of CGST cannot be used for payment of SGST and credit of SGST cannot be used for payment of CGST.
• Input Tax Credit from CGST, SGST and IGST can be used to pay the other taxes only in a prescribed manner.

When ITC is received from CGST

• First preference is to pay CGST.
• The remaining amount can be used to pay IGST.
• ITC from CGST cannot be used to pay SGST.

When ITC is received from SGST

• First preference is to pay SGST.
• The remaining amount can be used to pay IGST.
• ITC from SGST cannot be used to pay CGST.

When ITC is received from IGST

• First preference is for the payment of IGST.
• Second preference is to pay CGST.
• If remaining, it can be used for the the payment of SGST.
• Implication of the ITC is that only value additions at various stages will be taxed. This effectively rules out cost cascading effect of taxation (Tax on tax).

 

3.GST Network (GSTN)

Why in news?

• ICICI Bank has exited the GST Network, a company which facilitates collection of goods and services tax, by selling its entire 10% stake to 13 State governments for Rs. 1 crore.

More about

• The stake transfer will be completed by the end of March
• ICICI Bank has exited the company following the government’s decision to make GST Network into a public sector entity last year.
• The Centre will own 50% stake in the GST Network and the rest will be held by States in the new structure.

Current structure of GST Network

• The GSTN is a complex IT initiative.
• It will establish a uniform interface for the taxpayer and also create a common and shared IT infrastructure between the Centre and States.
• Goods and Services Tax Network (GSTN) -as per the current structure, it is a not for profit non-Government, private limited company.

• The Government of India holds 24.5% equity in GSTN.
• All States of the Indian Union, including NCT of Delhi and Pondicherry, and the Empowered Committee of State Finance Ministers (EC), together hold another 24.5%.
• The remaining 51% is owned by five private financial institutions- ICICI Bank, NSE, HDFC Ltd, HDFC Bank and LIC Housing Finance Ltd.

Interconnect Usage Charge (IUC)

• IUC is a cost paid by one mobile telecom operator to another when its customers make outgoing mobile calls to the other operator’s customers.
• The charge is fixed by the Telecom Regulatory Authority of India (TRAI) and is currently at 6 paisa per minute.

 

4.NATIONAL ANTI-PROFITEERING AUTHORITY (NAA)

About NAA

• The National Anti-profiteering Authority (NAA) is the institutional mechanism under GST law to check the unfair profit-making activities by the trading community.
• The Authority’s core function is to ensure that the benefits of the reduction in GST rates on goods and services made by GST Council and proportional change in the Input tax credit passed on to the ultimate consumers and recipient respectively byway of reduction in the prices by the suppliers.
• The responsibility of NAA is to examine and check such profiteering activities and recommend punitive actions including cancellation of Registration.

 Organizational structure

• It is headed by a senior officer of the level of Secretary to the Government of India with four Technical Members from the Centre and/or the States.
• A five-member committee, headed by Cabinet Secretary, comprising Revenue Secretary, CBEC Chairman and chief secretaries from two states, has been entrusted to finalize the chairman and members of the authority.
• Initially, the authority had a sunset date of two years from the date on which the chairman assumes charge.
• The chairman and the four members of the authority have to be less than 62 years.  Affected consumers may apply for relief to the Screening Committee in the particular State.

 Procedures

• In case the complaints with ‘All India’ nature, the application maybe directly made to the Standing Committee.
• After forming a prima facie view that there is an element of profiteering, the Standing Committee shall refer the matter for detailed investigation to the Director General of Safeguards, CBEC, which shall report its findings to the NAA.
• In the event the NAA confirms it, it has the authority to order the supplier / business concerned to reduce its prices or return the undue benefit availed by it along with interest to the recipient of the goods or services.
• If the undue benefit cannot be passed on to the recipient, it can be ordered to be deposited in the Consumer Welfare Fund.

5.Ghosting

Why in news?

• To keep ghost traders at bay, Aadhaar authentication or physical verification will be made mandatory for new traders coming under the Goods and Services Tax regime from January 2020 by the GST Network.

Ghosting

• Ghosting is an illegal practice whereby two or more market makers collectively attempt to influence a stock’s price.
• Corrupt companies use ghosting to affect stock prices so they can profit from the price movement.
• The industry calls this ghosting because, like a spectral image or a ghost, this collusion among market makers is difficult to detect.
• In developed markets, the consequences of ghosting can be severe.
• Companies can use ghosting to either drive a stock up or down, depending on the desired outcome.
• The goal is mutually beneficial as those involved are looking to capitalize on the change in price for personal gain.

Ghosting Versus Insider Trading

• While both ghosting and insider trading give particular firms or investors the ability to profit through illegal mechanisms, they function differently.
• With ghosting, the actors manufacture a change in market condition by the sudden increase of buying or selling of a stock. This causes stock prices to rise or fall in response to the sudden increase in trade volume.
• Insider trading gives those competitive firms informed of an upcoming event an unfair advantage, allowing them to buy or sell the corresponding stock before the public learns the new information.
• The inside information can come from company employees or any third party with knowledge of the inner workings of an organization and is barred from using that information for gain.

 

Taxation

6.Gross Fiscal Deficit (GFD)

Why in news?

• States’ gross fiscal deficit stayed within 3% says RBI.

Fiscal Deficit:

• The fiscal deficit is the excess of total budget expenditure over total budget receipts excluding borrowings during a fiscal year.
• The difference between total revenue and total expenditure of the government is termed as fiscal deficit.
• Actually, fiscal deficit represents the total borrowing requirements of the central government.
• Generally fiscal deficit takes place either due to revenue deficit or a major hike in capital expenditure. 

• Most importantly, fiscal deficit indicate the financial health of the budget and that of the government. Higher fiscal deficit thus becomes a matter of concern. On the other hand, a manageable fiscal deficit is a welcome sign.

{The term fiscal deficit is defined as all expenditure minus all receipts except borrowings.

           Fiscal deficit = Total Expenditure – Total Receipts except borrowings}

Gross fiscal deficit (GFD):

• The gross fiscal deficit (GFD) is the excess of total expenditure including loans net of recovery over revenue receipts (including external grants) and non-debt capital receipts.

Gross Fiscal Deficit = (Total Expenditure + Loans Servicing) – (Revenue Receipts + Non Debt Capital Receipts)

FRBM and Its review committee:

• The Fiscal Responsibility and Budget Management (FRBM) Act was enacted in 2003 which set targets for the government to reduce fiscal deficits.
• In May 2016, the government set up a committee under NK Singh to review the FRBM Act.
• The committee recommended that the government should target a fiscal deficit of 3 per cent of the GDP in years up to March 31, 2020 cut it to 2.8 per cent in 2020-21 and to 2.5 per cent by 2023.
• The combined debt-to-GDP ratio of the centre and states should be brought down to 60 per cent by 2023 (comprising of 40 per cent for the Centre and 20% for states) as against the existing 49.4 per cent, and 21per cent respectively.
• It also recommends that the central government should reduce its revenue deficit steadily by 0.25 percentage (of GDP) points each year, to reach 8% by 2023, from a projected value of 2.3% in 2017.

More Information

Revenue deficit:

• Revenue deficit is excess of total revenue expenditure of the government over its total revenue receipts. 
• Revenue deficit = Total revenue expenditure – Total revenue receipts

Primary deficit:

• Primary deficit is defined as fiscal deficit of current year minus interest payments on previous borrowings.
• Primary Deficit= Fiscal Deficit – Interest Payments

 

7.GENERALIZED SYSTEM OF PREFERENCES

• Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries (donor countries) to developing countries (beneficiary countries).
• It involves reduced Most Favoured Nation Tariffs or duty-free entry of eligible products exported by beneficiary countries to the markets of donor countries.
• The Generalized System of Preferences (GSP) was instituted in 1971 under the aegis of United Nations Conference on Trade and Development (UNCTAD).
• The objective of UNCTAD’s support on GSP and other preferential arrangements is to help developing countries – particularly LDCs – to increase utilization of GSP and other trade preferences and in turn promote productive capacity development and increased trade.
• The primary objective of the Generalized System of Preference is to contribute to the reduction of poverty and the promotion of sustainable development and good governance.
• Tariff preferences in the developed markets enable Developing Countries to participate more fully in international trade and generate additional export revenue to support implementation of their own sustainable development and poverty reduction policy strategies.
• GSP is presently extended by about 28 developed countries (Recently, U.S. has ended this status for India).

8.Excise Duty

Why in news?

• Excise duty on petrol and diesel hiked by Rs 3 a litre.

Excise duty:

• Excise duty refers to the taxes levied on the manufacture of goods within the country, as opposed to custom duty that is levied on goods coming from outside the country.
• The Central Board of Excise and Customs (CBEC) is responsible for collecting excise duty.
• The rates of Central Excise Duty are defined by the Central Excise Tariff Act, 1985.
• The Central Excise Act majorly provides the definitions related to excise while the Central Excise Tariff Act includes an elaborate schedule of excisable goods and the tariffs on them. 

There are three types of excise duties in India:

• Basic Excise Duty (Central Value Added Tax (CENVAT): This type of excise duty is imposed on goods classified under the first schedule of the Central Excise Tariff Act, 1985.
• Additional Excise Duty: This duty is levied on goods listed in Schedule 1 of the given act.
• Special Excise Duty- This kind of duty is levied on special goods specified under the Second Schedule to the Central Excise Tariff Act, 1985.

What is the difference between excise duty and GST?

• The difference between excise duty and other indirect taxes is that excise duty is levied on the manufacture of goods and at the time of removal of goods from the factory, while GST or sales tax or VAT are levied on the supply of goods and services.

Note: In July 2017 the Centre introduced GST that subsumed a number of indirect taxes including excise duty. This means excise duty, technically, does not exist in India except on a few items such as liquor and petroleum.

• For the items and services outside the purview of GST, excise duty is a form of indirect tax which is generally collected by a retailer or an intermediary from its consumers and then paid to the government.

9.India’s first fixed income Exchange Traded Fund (ETF) 

Why in news

• The government is expected to launch India’s first fixed income Exchange Traded Fund (ETF) comprising debt securities of about a dozen state-owned companies by mid-December 2019. 

From the news:

• The ETF is expected to have a size of Rs 15,000 crore to Rs 20,000 crore.
• The fund will comprise only AAA-rated papers of the PSU companies.

About India’s 1st fixed income ETF:

• The proposed debt ETF will be India’s first large fund that provides retail investors the convenience to invest in a fixed income product comprising a basket of securities, without the need to study individual bond issues.
• The debt ETF can comprise corporate debt securities in the form of bonds, credit-linked note, debentures, and promissory notes as underlying instruments.
• The debt ETF provides a new option to conservative investors to own securities of government-owned companies along with the facility of overnight liquidity as ETF units will be listed on exchanges. 

Benefits:

• Compared with bank fixed deposits that generate a post-tax return of around 5.5%, this debt ETF can provide return of over 7% for the investors.
• It will also help in deepening the corporate bond market and will allow PSUs to borrow from the market. 

New route for safe investment:

• India’s first fixed income ETF will provide a safe investment option, alongside high liquidity.
• Apart from deepening the corporate bond market, such ETFs will allow PSUs to borrow from the market. Investors can expect higher yield than on fixed deposits.

Note – The Department of Investment and Public Asset Management (DIPAM) has appointed Edelweiss Asset Management as the asset manager for the proposed debt ETF.

• Tax treatment of the debt ETF will be same as that of debt mutual funds.

Exchange Traded Funds (ETF)

• ETFs are index funds that are listed and traded on stock exchanges just like regular shares.
• They are a basket of stocks with assigned weights that reflect the composition of an index.
• The ETFs trading value is based on the net asset value of the underlying stocks that it represents.
• They enable investors to gain broad exposure to entire stock markets in different countries and specific sectors with relative ease, on a real-time basis and at a lower cost than many other forms of investing.
• The ETF is aimed at helping speed up the government’s disinvestment programme.

Bharat 22 ETF

• Bharat 22 ETF comprises of stocks of22 Central Public Sector Enterprises (CPSEs), Public Sector Banks (PSBs) and Specified Undertaking of Unit Trust of India (SUUTI).
• Bharat 22 ETF is managed byICICI Prudential Mutual Fund.
• The foundation of Bharat 22 ETF was laid by the government in theUnion Budget 2017.

10.Taxation Laws (Amendment) Bill, 2019

Why in news?

• LokSabha passes Bill to effect corporate tax reduction.

Taxation Laws (Amendment) Bill, 2019:

• Taxation Laws (Amendment) Bill, 2019, will amend the Income Tax Act 1961 and the Finance Act 2019.
• The main aim of the bill is to promote growth and investment in domestic manufacturing sector. 
• The bill provides an option for the domestic companies to pay taxes at the rate of 22%.
• This can be availed only if the companies are not claiming deductions under the Income Tax act.
• The Bill provides that a domestic manufacturing company set up on or after October 1, 2019, and which commences manufacturing by March 31, 2023, may opt to pay tax at 15 per cent plus surcharge at 10 per cent and cess at 4 per cent if it does not claim any deduction. 
• The companies opting for the new tax rates need not pay Minimum Alternate Taxes (MAT).

11.Fugitive Economic Offenders act

Why in news?

• Absconding businessman Nirav Modi has been decalred aFugitive Economic Offender under Fugitive Economic Offenders act.
• He is the second businessman after Mallya to be declared as FEO.

Fugitive Economic Offenders act

• It allows for declaring a person as an offender after an arrest warrant has been issued against the individual and the value of offences exceeds 100 crore.
• Another condition for declaring a person a fugitive economic offender (FEO) is when the individual refuses to return to the country to face prosecution in the specified cases.
• As per the law, a special FEOA court can order the confiscation of a FEO’s properties, including those which are benami,and the proceeds of crime in and outside India.
• Once properties are confiscated, the Union government has the right over them, and it can dispose them after 90 days.

12.Anti-Dumping Duty

Why in news?

• Directorate General of Trade Remedies (DGTR) conducts anti-dumping investigations, under the Customs Tariff Act, 1975 and the rules made there under, on the basis of a duly substantiated application filed by the domestic industry alleging dumping of goods into the country causing injury to the domestic industry.

What is an Anti-Dumping Duty?

• An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.
• Dumping is a process where a company exports a product at a price lower than the price it normally charges in its own home market.
• For protection, many countries impose stiff duties on products they believe are being dumped in their national market, undercutting local businesses and markets.

WTO and dumping

• The WTO does not regulate the actions of companies engaged in dumping.
• In general, the WTO agreement allows governments to “act against dumping where there is genuine (material) injury to the competing domestic industry.”

13.Gross Budgetary Support (GBS)

Why in news?

• During the Parliamentary Consultative Committee meeting of the North Eastern Region, the issue of utilisation of 10% GBS in NER by Non-exempt Central Ministries/Departments was discussed in detail.

Gross Budgetary Support:

• The Government’s support to the Central plan is called the Gross Budgetary Support.
• It includes sources of revenue raised by the Government and tax collection.
• The amount to be allocated to GBS is fixed by the Finance Commission.
• It collects the requirement of all the ministries and fixes the amount based on priority.
• Like other budget, GBS is also split into revenue and capital components.

14.National Financial Reporting Authority (NFRA)

Why in news

• Auditors get 90 days to file NFRA-2 form with NFRA.

National Financial Reporting Authority (NFRA)

• It was constituted on 01st October, 2018 by the Government of India under the Companies Act, 2013 for the establishment and enforcement of accounting and auditing standards and oversight of the work of auditors.

Functions and Duties:

• Recommend accounting and auditing policies and standards to be adopted by companies for approval by the Central Government;
• Monitor and enforce compliance with accounting standards and auditing standards;
• Oversee the quality of service of the professions associated with ensuring compliance with such standards and suggest measures for improvement in the quality of service;
• Perform such other functions and duties as may be necessary or incidental to the aforesaid functions and duties.

Composition :

• It consists of one chairman, three full-time members and one secretary.

Jurisdiction

• Companies whose securities are listed on any stock exchange in India or outside India.
• Unlisted public companies having paid-up capital of not less than rupees five hundred crores or having annual turnover of not less than rupees one thousand crores or having, in aggregate, outstanding loans, debentures and deposits of not less than rupees five hundred crores as on the 31st March of immediately preceding financial year;

15.Dividend Distribution tax

Why in news?

• The task force on direct tax code (DTC) has recommended abolishing dividend distribution tax (DDT) with a view to promote investment.

Dividend Distribution tax:

• It is a tax imposed by the central government on the dividend distributed by the corporate to its shareholders. 
• Dividends paid by a domestic company are subject to dividend distribution tax at 15 per cent of the aggregate dividend declared, distributed or paid.
• The provisions of DDT were introduced by the Finance Act 1997.

What is effective tax rate for dividend distribution?

• Once surcharge and cess are added to the grossed up amount, the effective tax rate is 20.35 per cent, including a 12 per cent surcharge and a 3 per cent education cess.

When do companies have to pay it?

• A company has to pay tax on the distributed profits to the government within 14 days of declaration, distribution or payment of any dividend, whichever is earliest.
• If a company has not paid it within that time frame, an interest will be accumulated at 1% per month or part thereof till it is paid.

 

16.GEOGRAPHICAL INDICATION

Why in news?

• Odisha’s Rasagola receives Geographical Indication tag.

 About the news

• The Registrar of Geographical Indications, Chennai, has issued a certificate registering the sweetmeat as ‘Odisha Rasagola’ under the Geographical Indications of Goods (Registration and Protection) Act, 1999.
• Odisha moved the registry after West Bengal was awarded the geographical indication tag for its ‘Banglar Rasagulla’ in 2017.

 About Odisha Rasagola

• ‘Odisha Rasagola’ is a sweet from the state of Odisha made of chhena (cottage cheese) cooked in sugar syrup.
• It is very soft to feel, is juicy and non- chewy in consistency and can be swallowed without teeth pressure.
• Odisha Rasagolas are white in colour with round shape (non‐ spherical).

Palani Panchamirtham from Palani Town in Tamil Nadu:

• Palani Panchamirtham is an abishega Prasadam and is one of the main offerings in the Abisegam of Lord Dhandayuthapani Swamy, the presiding deity of Arulmigu Dhandayuthapaniswamy Temple, situated in palani Hills, in Dindigul District.
• It is a combination of five natural substances, namely, banana, jaggery sugar, cow ghee, honey and cardamom in a definite proportion.
• It is prepared in a natural method without addition of any preservatives or artificial ingredients and is well known for its religious fervour and gaiety.
• This is the first time a temple ‘prasadam’ from Tamil Nadu has been bestowed with the GI tag.

Tawlhlohpuan from Mizoram:

• Tawlhlohpuan, a medium to heavy, compactly woven, good quality fabric from Mizoram.
• It is known for warp yarns, warping, weaving & intricate hand-made designs.
• Tawlhloh, in Mizo language, means ‘to stand firm or not to move backward’.
• Tawlhlohpuan is produced throughout the state of Mizoram, Aizawl and Thenzawl town being the main centre of production.
• It holds high significance in the Mizo society.

Mizo Puanchei from Mizoram:

• Mizo Puanchei is a colourful Mizo shawl/textile, from Mizoram.
• It is considered as the most colourful among the Mizo textiles.
• It is an essential possession for every Mizo lady and an important marriage outfit in the state.
• It is also the most commonly used costume in Mizo festive dances and official ceremonies.
• The weavers insert the designs and motifs by using supplementary yarns while weaving.

Tirur Betel leaf from Kerala:

• Tirur betel vine from Kerala, is mainly cultivated in Tirur, Tanur, Tirurangadi, Kuttippuram, Malappuram and Vengara block panchayaths of Malappuram District.
• It is valued both for its mild stimulant action and medicinal properties.
• It is commonly used for making pan masala for chewing, it has many medicinal, industrial and cultural usagesand is considered as a remedy for bad breath and digestive disorders.

Dindigul Lock:

• The famous Dindigul locks are known throughout the world for their superior quality and durability, so much so that even the city in Tamil Nadu is called Lock City.
• The abundance of iron in this region is the reason for the growth of the lock-making industry.
• Though machine-made locks are easily available, government institutions like prisons, godowns, hospitals and even temples use the older pattern locks.
• These lock manufacturing units are limited to an area of 5 km in and around Dindigul.
• There are over 50 varieties of locks made by the artisans using raw materials such as MS flat plates and brass plates procured from the nearby towns, including Madurai and Salem.

Kashmir’s famed saffron gets GI tag

• Kashmir’s famed saffron has been granted the Geographic Indication (GI) tag.
• Saffron has several names-Zafran, Kesar, Kang, Kang Posh etc.
• Historically, the cultivation of saffron started around three or four centuries back in Arabia and Spain. Thereafter, its cultivation spread as far as Iran, Sweden and India.
• Now, saffron growing is a great commercial activity. In Indian agriculture, this activity is also known as “Golden Zest”.
• India is a leading producer of premium and finest quality saffron in the world and Kashmiri saffron has been a recipient of the Great Taste Award, the world’s most coveted award for artisan and specialty food producers.

 

 About Geographical Indication Tag

 GI Tag

• A geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin.
• It is given primarily for an agricultural, natural or a manufactured product (handicrafts and industrial goods) originating from a definite geographical territory.
• A GI tag indicates that the product originates from a definite territory in India and has unique characteristics or quality.
• Having a GI tag prevents unauthorised use of a registered Geographical Indication by others, boosts exports of Indian Geographical indications by providing legal protection and also enables seeking legal protection in other WTO member countries
• Darjeeling Tea, Tirupathi Laddu, Kangra Paintings, Nagpur Orange and Kashmir Pashmina are among the registered GIs in India.
• Unlike a Trade Mark, Geographical Indication cannot be licensed.
• Also when Trade Mark is assigned to the manufactured goods, the Geographical Indication is assigned to the agricultural goods/products and handicrafts only.

 Who can use GI?

• A geographical indication right enables those who have the right to use the indication to prevent its use by a third party whose product does not conform to the applicable standards.
• A GI may be used by any persons in the area of origin, who produces the good according to specified standards.
• But a GI cannot be assigned or licensed to someone outside that place or not belonging to the group of authorized producers.

 Who gives GI Tag?

• Governments of all WTO member countries had agreed to set certain basic standards for the protection of GIs in all member countries as per the WTO TRIPS Agreement.
• Under the Paris Convention for the Protection of Industrial Property, geographical indications are covered as an element of IPRs.
• India, as a member of the World Trade Organization (WTO), enacted the Geographical Indications of Goods (Registration & Protection) Act, 1999.
• The GI tag is given by the Registrar of Geographical indications in India.
• The Cell for IPR Promotions & Management (CIPAM) under Department of Industrial Policy and Promotion (DIPP) is the nodal agency for GIs and IPRs in India.

Transport & Infrastructure

17.Longest Electrified Rail Tunnel

Why in News?

• Vice-President M Venkaiah Naidu dedicated the longest electrified railway tunnel in the country between Rapuru and Cherlopalli in Andhra Pradesh to the nation

Information

• The 6.6 km long tunnel is situated between Cherlopalli and Rapuru railway stations and is part of the new Obulavaripalli-Venkatachalam railway line.
• The height of the tunnel is 6.5 metres.

Significance

• At present, a goods train takes an average time of 10 hours to travel from Krishnapatnam Port to Obulavaripalli.
• On the newly electrified line, the travel time gets reduced to about 5 hours, thereby resulting in a saving of travel time by 5 hours.
• The tunnel is a game changer in the freight operations of the zone.

18.Real-time Train Information System (RTIS)

Why in news

• 500 passenger trains get ISRO-enabled GPS

Real-time Train Information System (RTIS)

• The system is used for automatic transmission of speed and movement of trains to the central control office for improving train control functions.
• It has been developed by the Centre for Railway Information Systems (CIRE) with the help of Indian Space Research Organisation–Airports Authority of India’s GAGAN -Global Positioning System (GPS) aided geo-augmented navigation.
• For now, the information gathered is being used for internal purposes.
• RTIS has an outdoor unit over the locomotive roof top — Rail MSS Terminal (RMT) comprising of Mobile Satellite Service (MSS) transceiver module, GPS receiver and antennae.
• It also has an indoor unit — Indian Rail Navigator (IRN) in the locomotive cabin comprising a display processing engine, integrated communication module and power management unit.
• Communication is done through GPS reception and 4G modules.

GAGAN -Global Positioning System (GPS) Aided Geo-Augmented Navigation

• It is a Satellite Based Augmentation System (SBAS) for the Indian Airspace.
• GAGAN was developed by the Indian Space Research Organization (ISRO) and the Airports Authority of India.
• It relies on ISRO’s GSAT satellites for information.
• The system is inter-operable with other international SBAS systems like US-WAAS, European EGNOS, and Japanese MSAS.
• GAGAN though primarily meant for aviation, will provide benefits beyond aviation to many other user segments such as intelligent transportation, maritime, highways, railways, surveying, geodesy, security agencies, telecom industry, personal users of position location applications

19.Head on Generation Trains

Why in news?

• Over 500 trains have been converted into HOG compliant trains in the last one year.

End-On-Generation Trains

• Premium passenger trains fitted with Air-Conditioned coaches and running traditionally on the End-on-Generation (EOG) system are contributing much towards air and noise pollution.
• These trains are using 2 diesel power cars for feeding power to air-conditioning and lighting load in the passenger coaches which produce an unbearable noise of around 100dB.
• Further, these power cars guzzle on an average 3000 liters of diesel per trip per train contributing to the pollution in the cities.

Head on Generation as an alternative

• Indian Railways have come up with an energy efficient and environment friendly innovative solution to address the issues of air & noise pollution and energy efficiency in running of passenger trains.
• An improvised converter has been developed, which is fitted in Electric locomotives which can replace these diesel generators.
• It uses power from overhead catenary to feed auxiliaries in the coaches hauled by Electric locomotives.
• It saves up to 1 Million liters of diesel per train per annum.
• The major advantages of HOG system include:

• Reduction in noise-from 100dB noise to noise less,
• Significant reductionofCO₂ (over 2500Ton) & NO_X(over 10Ton) emissions till now, 
• Reduced Diesel Consumption leading to huge savings in operational costs to the tune of over Rs.1100 crores per annum,
• Economical- EOG Power Rs 22/unit, HOG Power Rs 6/unit.

20.Mountain Railways of India

Why in news?

• Indian Railways start 7-coach glass-enclosed vista dome train on Kalka-Shimla route.

Mountain railways of India

• The Mountain Railways of India are outstanding examples of hill railways.
• Opened between 1881 and 1908 they applied bold and ingenious engineering solutions to the problem of establishing an effective rail link across a mountainous terrain of great beauty.
• They are still fully operational as living examples of the engineering enterprise of the late 19th and early 20th centuries.
• It includes three railways
• The Darjeeling Himalayan Railway à Located in the foothills of the Himalayas in West Bengal.
• Nilgiri Mountain Railway à Located in the Nilgiri Hills of Tamil Nadu.
• The Kalka Shimla Railway à located in the Himalayan foothills of Himachal Pradesh
• These three are collectively designated as a UNESCO World Heritage Site under the name Mountain Railways of India.
• The fourth railway, the Matheran Hill Railway, is on the tentative list of UNESCO World Heritage Sites.
• It connects Neral to Matheran in the Western Ghats, Maharashtra.
• The basis of UNESCO’s designation of the Mountain Railways of India as a World Heritage Site is ‘outstanding examples of bold, ingenious engineering solutions for the problem of establishing an effective rail link through rugged, mountainous terrain’.
• The Darjeeling Himalayan Railway received the honor first in 1999 by UNESCO followed by the Nilgiri Mountain Railway in 2005. The Kalka–Shimla Railway received the designation in 2008.

21.Dedicated Freight Corridor Corporation of India

Why in news?

• The Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL) opened the more than 300-km section between Rewari, Haryana to Madar, Rajasthan, for commercial trial runs.

More about the news

• This is the first section to be opened on the under-construction 1,500-km western freight corridor.
• The opening of this stretch will benefit various industries in Rewari, Manesar, Narnaul, Phulera and Kishangarh areas of Rajasthan and Haryana.

Dedicated Freight Corridor Corporation of India

• It is a Public Sector Undertaking (PSU) corporation run by government of India’s Ministry of Railways to undertake planning, development, and mobilization of financial resources and construction, maintenance and operation of the Dedicated Freight Corridors.
• The DFCCIL was registered as a company under the Companies Act 1956 in 2006.
• it is both enabler and beneficiary of other key Government of India schemes, such as and Industrial corridor, Make in India, Startup India, Standup India, Sagarmala, Bharatmala, UDAN-RCS, Digital India, BharatNet.

Dedicated Freight Corridors

These are freight-only railway lines to move goods between industrial heartlands in the North and ports on the Eastern and Western coasts.

• The dedicated freight-only lines are being built along the four key transportation routes – known as the Golden Quadrilateral and connecting Delhi, Mumbai, Chennai, Howrah and its two diagonals (Delhi – Chennai and Mumbai – Howrah).

Dedicated Freight Corridors (DFC) under implementation:

• Western Dedicated Freight Corridor, 1,468 km from Dadri in Uttar Pradesh to Jawaharlal Nehru Port in Mumbai.
• Eastern Dedicated Freight Corridor, (Ludhiana, 1,760 km from Punjab to Dankuni in West Bengal.

Western Dedicated Freight Corridor (DFC)

• It is a broad gauge corridor.
• The 1,504-km western freight corridor begins at Dadri in Uttar Pradesh and stretches till the country’s largest container port — Jawaharlal Nehru Port Trust, near Mumbai.
• The project is being funded by a soft loan of $4bn provided by Japan International Cooperation Agency under special terms for economic partnership (STEP).

Eastern Dedicated Freight Corridor

• It is a broad gauge corridor.
• The railway will run between Ludhiana in Punjab and Dankuni (near Kolkata) in West Bengal.
• This freight corridor will cover a total distance of 1839 km.
• This corridor will also pass through Dadri, which is the origin point of the Western Dedicated Freight Corridor.

22.Electric Vehicle (EV) charging stations

Why in news?

• Centre sanctions 2,636 EV Charging Stations under Fame II scheme.

About the news:

• The aim of the move is to make sure at least one Electric Vehicle charging station is available in a grid of 4 km × 4km area in the selected cities.
• Out of the 2636 charging stations to be constructed, 1633 will be fast charging stations and 1003 are to be slow charging stations.

 Charging Technologies:

• India has planned to use three charging technologies.
• It includes CHAdeMO, Indian Bharat Standard and Combined Charging System (CCS).

About FAME India:

We already discussed in Previous Month Current Affairs

 

23.Content on demand by Railway

Why in news?

Train journeys could soon become more entertaining with the Indian Railways planning to offer access to “high quality, buffer free” video content to passengers.

• The project will be implemented by RailTel, a miniratna PSU under Ministry of Railways is expected to be rolled out fully in the next two years in all Premium/Express/Mail trains and Suburban trains of Indian Railways.
• RailTel has selected Margo Network, a subsidiary of Zee Entertainment, as the digital entertainment service provider for providing content on demand (CoD) on trains and at railway stations.
• This will be made available both in paid and unpaid formats for a contract period of 10 years which includes first two years of implementation.
• In this project, RailTel will provide various preloaded multilingual content (Movies, Music Videos, General Entertainment, Lifestyle etc) in moving trains through media servers installed in trains.
• CoD platform will also provide e-commerce/m-commerce services in various domains e.g. travel bookings (cab, bus, train) and provide various innovative solutions in digital marketing domain.

24.Corporate Train Model of Indian Railways

Why in news?

• Explained: How does India’s Railways’ corporate train model work?

More about

• The Kashi Mahakal Express is the country’s third ‘corporate’ train after the two Tejas Express trains between Delhi-Lucknow and Mumbai-Ahmedabad started over the past few months.

How does the model work?

• In this model, the corporation takes all the decisions of running the service — fare, food, onboard facilities, housekeeping, complaints
• Indian Railways is free from these encumbrances and gets to earn from IRCTC a pre-decided amount, being the owner of the network.
• This amount has three components- haulage, lease and custody.
• The haulage charge includes use of the fixed infrastructure like tracks, signaling, driver, station staff, traction and pretty much everything needed to physically move the rake.
• IRCTC have to payLease chargeson the rake as Indian Railways coaches are leased to its financing arm, the Indian Railway Finance Corporation (IRFC).
• There is a per-day custody charge, of keeping the rake safe and sound while it is in the custody of the PSU.

What is Indian Railways’ benefit from this model?

• Indian Railways doesn’t have to suffer the losses associated with running these trains.

Is this the same model for private train operators?

• The model in which private train operators are sought to be engaged is different wherein along with haulage of Rs 668 per kilometer the operator needs to agree to revenue sharing with Railways.
• The company willing to share the highest percentage of revenue will win the contract.
• Private players may not need to pay lease and custody charges as it is expected that they will bring in their own rolling stock.

 

25.Avataran

Why in news?

• The report on train accidents &the impact of ‘Mission Zero accident’ were given by the Minister of Railways and Commerce & Industry in a written reply to a question in Lok Sabha.

More about

• In the Railway Budget 2016-17, Mission Zero Accident was one of the Missions announced under umbrella mission Avataran.

Avataran

• It was introduced by Ministry of Railways in Railway Budget 2016-17.
• It is an umbrella mission to transform Indian Railways through seven Mission activities – Avataran. These missions are:

Mission 25 Tonne

• It aims to increase revenue by augmenting carrying capacity.

Mission Zero Accident: It comprises of two sub missions

Elimination of unmanned level crossings: The goal is eliminate all unmanned level crossings on Broad Gauge in the next 3-4 years through innovative financing mechanisms.

TCAS (Train Collision Avoidance System): An indigenous technology has been developed to equip 100% of the High Density Network with TCAS in the next 3 years.

Mission PACE (Procurement and Consumption Efficiency):

• This mission aims to improve our procurement and consumption practices to improve the quality of goods and services.

Mission Raftaar:

• It targets doubling of average speeds of freights trains and increasing the average speed of superfast mail/express trains by 25 kmph in the next 5 years.
• Loco hauled passenger trains will be replaced by DEMU/MEMU over the next five years.
•  It will complement Mission 25 Tonne to increase throughput of the railway system.

Mission Hundred:

• Under this mission, at least a hundred sidings will be commissioned in the next 2 years. Siding refers to low-speed track section / track branch distinct from a running line.

Mission beyond book-keeping:

• It will establish an accounting system where outcomes can be tracked to inputs. .

Mission Capacity Utilization:

• It proposes to prepare a blueprint for making full use of the huge new capacity that will be created through two Dedicated Freight Corridors

 

26.THE NATIONAL LOGISTICS POLICY

Why in news?

• Express Industry Council of India (EICI) stated, The draft National Logistics Policy, released by the government earlier this year, has ignored the role of the express industry (courier and parcel) and air cargo sectors.

 Background:

• The Indian logistics sector provides livelihood to more than 22 million people and improving the sector will facilitate 10 % decrease in indirect logistics cost leading to the growth of 5-8% in exports.
• The worth of Indian logistics market would be around USD 215 billion in next two years.

 The draft National Logistics Policy:

• It has been prepared by the Department of Logistics, Ministry of Commerce and Industry in consultation with the Ministry of Railways, Ministry of Road Transport and Highways, Ministry of Shipping and Ministry of Civil Aviation.

The policy aims

• To inform, clarify, strengthen and prioritize the key objectives, and the governance framework for logistics in India, along with clarifying the role of the various stakeholders.
• To reduce the logistics cost from the present 14% of GDP to less than 10% by 2022 in line with best-in-class global standards.
• The policy also seeks to optimise the current multimodal mix, where road has a share of 60%, while railways account for 31% and waterways 9%, to bring the sector on par with international benchmarks (25-30% share of road, 50-55% share of railways, 20-25% share of waterways).

 Key objectives the policy are:

• A national logistics online marketplace to simplify trade documentation
• Incentivize logistics to make it more efficient
• A data and analytics center for monitoring key logistics metrics
• A center of excellence to drive innovation
• An Integrated National Logistics Action Plan for all logistics related development
• Further, the policy envisages to create more employment opportunities with a focus on enhancing skills in the sector, while trying to improve India’s ranking in the Logistics Performance Index.
• It also aims to promote cross-regional trade on e-commerce platforms

27.PRAKASH (Power Rail Koyla Availability through Supply Harmony) portal

Why in news?

• Govt launched portal.

More Information

• The Portal aims at bringing better coordination for coal supplies among all stakeholders viz – Ministry of Power, Ministry of Coal, Coal India, Railways and power utilities.
• This is an important step in ensuring adequate availability and optimum utilization of coal at thermal power plants.
• PRAKASH Portal is developed by National Thermal Power Corporation and sources data from different stakeholders such as Central Electricity Authority (CEA), Centre for Railway Information System (CRIS) and coal companies.

Benefits of Portal to the Stakeholders

• Coal company will be able to track stocks and the coal requirement at power stations for effective production planning
• Indian Railways will plan to place the rakes as per actual coal available at siding and stock available at power stations.
• Power stations can plan future schedule by knowing rakes in pipe line and expected time to reach.
• Ministry of Power /Ministry of Coal/ CEA/ POSOCO can review overall availability of coal at thermal power plants in different regions

Present mechanism 

• To review coal supply situation consists of an inter-ministerial group which has officials from Ministries of Power, Coal, Railways, CEA, power utilities and coal companies.
• This group holds weekly meetings to review coal supply situation as well as railway logistics.
• It was observed that this mechanism faced several issues such as scattered information, correctness of data from different organizations, timely availability of data etc. This often led to difficulties in decision making

 

28.Electric vehicles (EVs)

Why in news?

• Dialogue and Development Commission (DDC) of Delhi accelerating mobility transition to e-vehicles in city.

Electric vehicle (EV):

• An electric vehicle(EV), also referred to as an electric drive vehicle, is a vehicle which uses one or more electric motors for propulsion.
• A major feature of EVs is that drivers can plug them in to charge from an off-board electric power source.
• This distinguishes them from hybrid electric vehicles, which supplement an internal combustion engine with battery power but cannot be plugged in.

Types of EVs:

• EVs(also known as plug-in electric vehicles) derive all or part of their power from electricity supplied by the electric grid. They include AEVs and PHEVs.

• AEVs(all-electric vehicles) are powered by one or more electric motors.
• They receive electricity by plugging into the grid and store it in batteries.
• They consume no petroleum-based fuel and produce no tailpipe emissions.
• AEVs include Battery Electric Vehicles (BEVs) and Fuel Cell Electric Vehicles (FCEVs).
• PHEVs(plug-in hybrid electric vehicles) use batteries to power an electric motor, plug into the electric grid to charge, and use a petroleum-based or alternative fuel to power the internal combustion engine.
• Some types of PHEVs are also called extended-range electric vehicles (EREVs).

 

 

Industry

29.Jute Industry

Why in news

• Jute industry told to step up supply of sacks for kharif crop.

Jute industry in India

• Jute is one of the important natural fibres after cotton in terms of cultivation and usage.
• Jute is an important Khariff crop.
• Almost 85% of world’s jute cultivation is concentrated in the Ganges Delta.
• India is the world’s largest producer of raw jute and jute goods, contributing to over 50 percent and 40 percent respectively of global production.
• The leading world’s jute producing countries are India, Bangladesh, China and Thailand.
• The cultivation of jute in India is mainly confined to the eastern region of the country.
• The jute crop is grown in nearly  83  districts  of seven states –  West Bengal ,  Assam ,  Orissa , Bihar , Uttar Pradesh , Tripura and Meghalaya .
• West Bengal alone accounts for over 50 percent raw jute production.
• Jute industry is predominantly dependent on Government sector which purchases jute products more than Rs. 5,500 crore every year.

Climate condition

• Jute crop requires humid climate with temperature fluctuating between 24 degree Celsius and 38 degree Celsius.
• Minimum rainfall required for jute cultivation is 1000 mm.

Initiatives Support the Jute Industry

• Government has approved to expand the scope of mandatory packaging norms under Jute Packaging Material (JPM) Act, 1987.
• It has approved that 100% of the food grains and 20% of sugar shall be mandatorily packed in diversified jute bags.
• The J-CARE programme unveiled by the National Jute Board and the Jute Corporation of India seeks to address the retting issue by introducing a pilot project on retting technologies aimed at increasing farmers’ returns.
• A recent initiative called ‘The Jute Foundation’ (TJF) is trying to address many issues pertaining to the environment-friendly product.
• An initiative is being introduced for the industry to work jointly with research and development agencies like IJIRA (Indian Jute Industries’ Research Association) and others to develop thin and slim jute shopping bags that can be rolled into a ladies’ handbag.

Jute Technology Mission (JTM)

• It was approved by the government of India in 2006 and it has 4 mini Missions. The Objectives of the JTM are as follows:
• To strengthen agricultural research and technology achievements.

• Development/extension of raw jute ministry of and transfer of improved technology.
• To develop efficient market linkages ministry of for raw jute.
• To modernize, technologically upgrade, improve productivity, textiles diversify and develop human resource for the jute industry.

30.India’s Vegetable Oil Economy

Why in news?

• Avoid oil imports from Malaysia: trade body

More about the news

• As a retaliatory measure against Malaysia’s unprovoked remarks and criticism on India’s move to abrogate Article 370 in Jammu and ashmir, India’s apex oil trade body Solvent Extractors’ Association of India (SEA) on Monday advised all its members to avoid imports from the Malaysia.

India’s Vegetable Oil Economy

• India is one of the major oilseeds grower and importer of edible oils. India’s vegetable oil economy is world’s fourth largest after USA, China & Brazil.

• The oilseed accounts for 13% of the Gross Cropped Area, 3% of the Gross National Product and 10% value of all agricultural commodities.
• The diverse agro-ecological conditions in the country are favourable for growing 9 annual oilseed crops, which include 7 edible oilseeds (groundnut, rapeseed & mustard, soybean, sunflower, sesame, safflower and Niger) and two non-edible oilseeds (castor and linseed).
• The total production of edible oil in the country is about 9 million MT, while the domestic requirement is around 25 million MT.

Palm oil import

• A substantial portion of India’s requirement of edible oil is met through import of palm oil.
• Palm oil contributes 70% of vegetable oil import and is one of the cheapest oil due to high productivity per hectare.
• India is the world’s largest importer of palm oil, driving 23 per cent of total global demand from plantations in Indonesia and Malaysia.

Initiatives by Government to Reduce Import Dependency

• Technology Mission on Oilseeds(1986)
• National Mission on Oilseeds and Oil Palm (NMOOP)-Dedicated to oil palm area expansion and productivity increases.

31.Industry 4.0

Why in news?

• A Pilot Project for ushering in ‘Industry 4.0’ in the country is launched for implementation at the Modern Coach Factory (MCF), Raebareli.

More about:

• The Ministry of Railways and Department of Science & Technology have joined hands in partnership with IIT Kanpur for taking up a unique project on ‘Industry 4.0’ by launching a Pilot Project for implementation at Modern Coach Factory, Raebareli.

Industry 4.0:

• ‘Industry 4.0’ commonly referred to as the fourth industrial revolution, is a name given to the current trend of automation, interconnectivity and data exchange in manufacturing technologies to increase productivity.
• It provides insight into production process to take the decisions in real time basis, minimizing human errors and ensure that resources are put to the best utilization, what is called the Overall Equipment Effectiveness (OEE).
• Industry 4.0 is a complex Cyber-Physical Systems which synergizes production with
• Digital technologies
• Internet of Things
• Artificial Intelligence
• Big Data & Analytics
• Machine Learning and
• Cloud Computing

History of industrial revolution:

• Industry 1.0 refers to the first industrial revolution. It is marked by a transition from hand production methods to machines through the use of steam power and water power.

• Industry 2.0 is the second industrial revolution or better known as the technological revolution in the period between 1870 and 1914.
• It was made possible with the extensive railroad networks and the telegraph which allowed for faster transfer of people and ideas
• The third industrial revolution or Industry 3.0 occurred in the late 20th century, after the end of the two big wars, as a result of a slowdown with the industrialization and technological advancement compared to previous periods. It is also called digital revolution. 

32.Index of Eight Core Industries

Why in news?

• Growth in the eight core sectors in August slumped to the lowest in four years and four months.

Index of Eight Core Industries (Base year: 2011-12):

• It is released by Ministry of Commerce and Industry.
• It is a monthly production index, which is also considered as a lead indicator of the monthly industrial performance.
• The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

• Refinery products (28.04%)
• Electricity (19.85%)
• Steel (17.92%)
• Coal (10.33%)
• Crude oil (8.98%)
• Natural gas (6.88%)
• Cement (5.37%)
• Fertilisers (2.63%)

The Index of Industrial Production (IIP):

• It details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing.

Sector Number of items Weight (%) Mining 1 14.373 Manufacturing 405 77.633 Electricity 1 7.994 Total 407 100

• It is an all India composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period.
• It is compiled and published monthly by the central statistical organisation (CSO), Ministry of Statistics and Programme Implementation.
• Following are the three sectors of the IIP as per the revision based on 2011-12 series.

33.PROJECT SURE 

1. The Union Minister for Textiles has launched Project SURE. The SURE project is a commitment by India’s apparel industry to set a sustainable pathway for the Indian fashion industry. 
2. SURE stands for ‘Sustainable Resolution’ which means a commitment from the industry to move towards fashion that contributes to a clean environment.
3. This framework would help the industry
4. reduce its carbon emissions
5. (b)increase resource efficiency
6. (c)tackle waste and water management
7. (d)create positive social impact to achieve long-term sustainability targets.

34.Steel Scrap Recycling Policy

Why in news

• Ministry of Steel has issued the Steel Scrap Recycling Policy. 

From the news:

• The National Steel Policy aims at developing globally competitive steel industry.
• It aims at creating 300 million tons of steel per annum by 2030. 

Objectives of the Policy:

• To promote circular economy in the steel sector.
• The policy aims at promoting scientific collection and processing activities of recyclable ferrous and non-ferrous scraps.
• Processing and recycling of products in an organized, safe and environment friendly manner.
• To evolve a responsive ecosystem by involving all stakeholders.
• To produce high quality ferrous scrap for quality steel production thus minimizing the dependency on imports.
• To decongest the Indian cities from ELVs and reuse of ferrous scrap.
• To create a mechanism for treating waste streams and residues produced from dismantling and shredding facilities in compliance to Hazardous & Other Wastes (Management & Trans boundary Movement) Rules, 2016 issued by MoEF& CC.
• It also promotes the ‘6R’ principle of Reduce, Recycle, Reuse, Recover, Remanufacture and Redesign.

More Information:

• Steel is a material most conducive for circular economy as it can be used, reused and recycled infinitely.
• While iron ore remains the primary source of steel making used or re-used steel in the form of Scrap is the secondary raw material for the steel industry.

35.National logistics policy

Why in news?

• The information about national logistics policy was given by the Minister of Commerce and Industry in a written reply in the Rajya Sabha.

More about

• The vision of the proposed policy is to drive economic growth and business competitiveness of the country through an integrated, seamless, efficient, reliable, green, sustainable and cost effective logistics network leveraging the best in technology, processes and skilled manpower.
• While, there is no official estimation of logistics cost for India, some private institutions have estimated the logistics cost to be 13 to 14 percent of the GDP.
• The proposed policy aims to reduce this to 9 -10 percent of the GDP.
• In order to simplify documentation for exports and imports through  digitization,  Department of Revenue, CBIC have taken several initiatives like 

• SWIFT ( Single Window Interface For Trade ) 
• Adoption of Digital Signature
• 24×7 Customs Clearance
• Import Data Processing and Management System (IDPMS) – jointly launched with RBI to facilitate efficient data processing for payment of imports and effective monitoring 
• Two new IT  Modules ICEDASH i.e (Ease of doing business monitoring dashboard) and ATITHI app for electronic filing by passengers for baggage.
• PCS 1X which is a platform for port related processes developed by Indian Ports Association.

 SWIFT (Single Window Interface For Trade) 

• SWIFT provides a single-point interfacefor clearance and is expected to reduce documentation and costs.
• The single windowwill connect over 50 offices of six government agencies with the Indian customs department.

36.Maharatna, Navratna and Miniratna status

• Government of India has accorded ‘Maharatna’ status to public sector undertaking’s (PSU’s) Hindustan Petroleum Corporation Limited (HPCL) and Power Grid Corporation.

Maharatna, Navratna and Miniratna status

• Status of Maharatna, Navaratna and Miniratna is given to the Central Public Sector Companies (CPSE) in India.
• The Department of Public Enterprises under Ministry of Heavy Industries & Public Enterprises is the nodal department for all the Central Public Sector Enterprises (CPSEs).
• It makes policies and guidelines for the performance evaluation and improvement of the PSUs/ CPSEs.

Eligibility Criteria

Maharatna

• Having Navratna status.
• Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations.
• Average annual turnover of more than 25,000 crore, during the last 3 years.
• Average annual net worth of more than 15,000 crore, during the last 3 years.
• Average annual net profit after tax of more than 5,000 crore, during the last 3 years.
• Should have significant global presence/international operations.

Navaratna

• A CPSE which falls under the Miniratna (Category – I and Schedule ‘A’ CPSEs), has obtained rating of ‘very good’ or ‘excellent’ in 3 of the last 5 years.

• A CPSE which has composite score of 60 or above in the 6 selected performance parameters, namely;
• Net profit to net worth
• Earnings per share
• Profit before interest and taxes to turnover
• Profit before depreciation, interest and taxes to capital employed
• Manpower cost to total cost of production/services
• Inter-Sectoral performance

Miniratna

• Those CPSEs which fulfill these two criteria are eligible to be considered for grant of Miniratna status.
• The CPSEs which have made profits in the last 3 years continuously
• The CPSEs which have positive net worth.
• As of 2019, there are 10 Maharatnas, 14 Navratnas and 73 Miniratnas.
• There are nearly 300 CPSEs (central public sector enterprises) in total.

 

37.WHOLESALE PRICE INDEX (WPI)

Why in news?

• Inflation at the wholesale level eased for the fourth consecutive month to a 25-month low of 1.08% in July, on lower inflation in the manufacturing and fuel sectors, according to official data released on Wednesday

 Wholesale Price Index (WPI):

• The WPI is published by the Office of Economic Adviser, Ministry of Commerce and Industry.
• It is prepared monthly and is touching the price data at wholesale level.
• Base year for the index is 2011-12
• It is in use since 1942 and is being published from 1947 regularly.
• It has a long history for serving as the nationwide inflation indicator till the emergence of the combined CPI in 2011.
• An important feature of the WPI which separate it from the CPI is that prices are collected from wholesalers.
• In the WPI index, Primary Articles had a weightage of 22.62 per cent, Fuel and Power had a weightage of 13.15 per cent and Manufactured Products had a weightage of 64.23%.

38.EIGHT CORE INDUSTRIES

Why in news?

• Growth of eight core industries dropped to 0.2% in June mainly due to a contraction in oil-related sectors as well as in cement production, according to official data.

 Index of Eight Core Industries (Base: 2011-12=100):

• The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
• Refinery products (28.04%)
• Electricity (19.85%)
• Steel (17.92%)
• Coal (10.33%)
• Crude oil (8.98%)
• Natural gas (6.88%)
• Cement (5.37%)
• Fertilisers (2.63%)
• Index of Eight Core Industries is released by Ministry of Commerce and Industry.

39.Consumer Price Index (CPI)

Why in news

• Growth in the Consumer Price Index quickened in September from 3.28% in the previous month.

Consumer Price Index (CPI)

• It is also called as retail inflation because prices are quoted from retailers.
• CPI captures variations in prices levels at the consumer level.
• It is based on 260 commodities, and also includes certain services.
• Ministry of Statistics and Programme Implementation (MoSPI) and Ministry of Labour and Employment (MOLE) are engaged in the construction of different CPI for different groups/sectors.

Following are the various CPIs

• CPI for Industrial Workers (IW).
• CPI for Agricultural Labourer (AL).
• CPI for Rural Labourer (RL).
• CPI (Rural/Urban/Combined).
• The first three are compiled by the Labour Bureau in the Ministry of Labour and Employment.
• Fourth is compiled by the Central Statistical Organisation (CSO) in the Ministry of Statistics and Programme Implementation.
• Base Year for CPI is 2012.

Consumer Food Price Index (CFPI)

• It is a measure of change in retail prices of food items consumed by the population.
• It was launched by CSO in 2014.
• The index gives food price level changes for rural, urban and all India bases.
• The base year used in CFPI is 2012 as in the case of CPI.
• CFPI is based on retail price quotations as in the case of CPI.

Composition of CFPI

• The Methodology for the calculation of CFPI is similar to that of CPI.
• In CPI, food and beverage group constitutes 45.86% of weight. Out of this, beverages and some of the eatable items are excluded to derive the CFPI basket of commodities.
• Weight of the CFPI commodities is 39.05% of the entire CPI basket. 
• CSO brings CFPIs for the three groups and hence there are three CFPIs:
• CFPI -Rural
• CFPI –Urban
• CFPI – Combined
• Price quotations and data are collected from selected towns by the Field Operations Division of NSSO and from selected villages by the Department of Posts.
• Data are received through web portals being maintained by the National Informatics Centre.

What is Index of Industrial Production?

• The Index of Industrial Production (IIP) is an index which details out the growth of various sectors in an economy such as mineral mining, electricity, manufacturing, etc.
• The Base Year of the Index of Eight Core Industries is 2011-12.
• It is compiled and published monthly by the Central Statistical Organisation (CSO), Ministry of Statistics and Programme Implementation six weeks after the reference month ends, i.e a lag of six weeks.

 

Agriculture

40.CHC Farm Machinery App

Why in News?

• The Union Minister for Agriculture launched two mobile apps for agriculture in New Delhi

Information

• CHC stands for Custom Hiring Centres.
• Through this app, farmers will be able to select and order the required farm machinery at rates feasible for them from Custom Hiring Centres located in a 50 km radius.
• Over 40000 CHCs have already registered on the app.
• This is a multilingual app and can be downloaded onto any android phone.

Significance 

• It is especially helpful for small and marginal farmers who will have easy access to high value and technical agricultural equipment facilitating optimum use of all types of inputs using these farming machines.
• This will help farmers increase their income.
• This will also help increase the rate of mechanisation of farm holdings.

Krishi Kisan App

• This app will provide farmers the information about the best demonstration of high-yielding crops and seeds in their nearby area.
• Any farmer with a high quality of crops can utilise this platform to demonstrate best practices of cultivation to other farmers so that this will help other farmers adopt these methods.
• The app will also help in geo-tagging and geo-fencing of crops and give weather forecast messages to farmers.

 

41.Agroecology

Why in News?

• National Academy of Agricultural Sciences, based on a brainstorming session that included industry representatives, sent a letter to Prime Minister Narendra Modi opposing Zero Budget Natural Farming (ZBNF).
• ZBNF, developed and publicized by agro-scientist Subhash Palekar, has been adopted by Andhra Pradesh.

What is Agroecology?

• It is recognized worldwide as a system that enhances fertile landscapes, increases yields, restores soil health and biodiversity, promotes climate resilience and improves farmers’ well-being.
• Its practices are supported by many agricultural scientists, the Food and Agriculture Organization, the Intergovernmental Panel on Climate Change, farmers’ groups and several NGOs.
• It basically makes the best use of nature’s goods and services while not damaging it. It works on enhancing healthy ecosystems, and build on ancestral knowledge and customs
• As an agricultural practice, Agroecology mimics natural processes to deliver self-sustaining farming that grows a greater diversity of crops, drastically reduces artificial inputs (pesticides, fertilizers, antibiotics) and recycles nutrients (plant and animal waste as manure).

42.Protection of Plant Varieties and Farmers’ Rights (PPV&FR) Act

Why in news

• Union Agriculture Minister reminded that the conservation of plant genetic resources is the shared responsibility of humanity, while addressing the Opening Ceremony of the Governing Body of International Treaty of Plant Genetic Resources for Food and Agriculture (ITPGRFA) in Rome.

Protection of Plant Varieties and Farmers’ Rights (PPV&FR) Act

Objectives:

• To establish an effective system for the protection of plant varieties, the rights of farmers and plant breeders and to encourage the development of new varieties of plants.
• To accelerate agricultural development in the country, protect plant breeders’ rights; stimulate investment for research and development both in public & private sector for the development new of plant varieties.
• Facilitate the growth of seed industry in the country which will ensure the availability of high quality seeds and planting material to the farmers.

Protection of Plant Varieties and Farmers’ Rights Authority

• To implement the provisions of the Act the Department of Agriculture, Cooperation and Farmers Welfare, Ministry of Agriculture and Farmers Welfare established the Protection of Plant Varieties and Farmers’ Rights Authority in 2005.
• The Chairperson is the Chief Executive of the Authority. Besides the Chairperson, the Authority has 15 members, as notified by the Government of India (GOI).
• A variety is eligible for registration under the Act if it essentially fulfills the criteria of Distinctiveness, Uniformity and Stability (DUS).
• The certificate of registration issued will be valid for nine years in case of trees and vines and six years in case of other crops.

Plant varieties protection appellate tribunal (PVPAT)

• There is transitory provision by which it is provided that till the PVPAT is established the Intellectual Property Appellate Board (IPAB) will exercise the jurisdiction of PVPAT.
• The decisions of the PVPAT can be challenged in High Court. The Tribunal shall dispose of the appeal within one year.

Rights under the act

• Breeders ‘Rights: Breeders will have exclusive rights to produce, sell, market, distribute, import or export the protected variety.
• Researchers ‘Rights: Researcher can use any of the registered variety under the Act for conducting experiment or research.
• Farmers’ Rights: A farmer who has evolved or developed a new variety is entitled for registration and protection in like manner as a breeder of a variety.

International Treaty of Plant Genetic Resources for Food and Agriculture (ITPGRFA)

• ITPGRFA is also known as Seed Treaty.
• It is a comprehensive international agreement for ensuring food security through the conservation, exchange and sustainable use of the world’s plant genetic resources for food and agriculture (PGRFA).
• It also recognizes farmers’ rights, subject to national laws.

43.Integrated Fertilizer Management System (iFMS)

Why in news?

• Department of Fertilizers (DoF) has developed an IT enabled system viz., Integrated Fertilizer Management System (iFMS), which captures end to end details of Fertilizer.

 Integrated Fertilizer Management System (iFMS)

• The Fertilizer sales are monitored online through web based Integrated Fertilizer Management System (iFMS) by Concerned stakeholders like DoF, State Agriculture Departments and Fertilizer companies.
• The portal facilitates Real time online tracking of fertilizer movement, Real time Fertilizer availability, Real time tracking of sale of fertilizers at subsidized rates to farmers through PoS devices etc.
• Under Aadhaar enabled Fertilizers Distribution System (AeFDS), it is mandatory for the retailers to sell subsidized fertilizers through PoS devices.

e-Urvarak Dashboard

• The dashboard is developed by Department of Fertilizers to facilitate easy monitoring by various Stake holders viz. State Agriculture Departments, District Collectors and State Marketing Federations.
• The Dashboards provide various reports like Frequent buyers, the retailers not selling fertilizer through PoS devices, Stock Availability etc

44.Nano fertilizer

Why in news?

• Union Minister of Chemical and fertilizers mentioned about the efforts of IFFCO in taking initiative to develop a newer form of fertilizers like ‘nano fertilizer’.

What is Nanotechnology?

• Nanotechnology is the study of manipulating matter on an atomic and molecular scale. By and large nanotechnology deals with structures in the size range between 1 to 100 nm and involves developing materials or devices within that size.
• At the nano-scale the matter presents altered properties which are novel and very different from those observed at macroscopic level.

What are nano fertilizers?

• Nano fertilizers are the important tools in agriculture to improve crop growth, yield and quality parameters with increase nutrient use efficiency, reduce wastage of fertilizers and cost of cultivation.
• Hence, nanotechnology has a high potential for achieving sustainable agriculture, especially in developing countries.

Background:

• World agricultural cropping systems intensively using large amount of fertilizers, pesticides, herbicides to achieve more production per unit area.
• But the over usage of these chemicals and fertilizers leads to several problems like environment pollution (soil, water, air pollution), low input use efficiency, decrease quality of food material, develop resistance in different weeds, diseases, insects, less income from the production, soil degradation, toxicity to different beneficial living organism present above and below the soil surface etc.
• For solving these problems in crop production nano-fertilizers, pesticides and herbicides may effective tools in agriculture for better pest and nutrient management because these nano-materials having more penetration capacity, surface area and use efficiency which avoid residues in environment.
• Nano-fertilizers will also help in reducing subsidy burden of the Governments.

Properties of nano-particle

• Large proportion of surface atoms – Smaller particles allow better coverage of surface area.
• Nano sized particles can even pass through the cell wall in plants and animals.

45.Vertical Farming

Why in news?

• Vertical farming takes off in ageing Japan.

Vertical farming:

• Vertical Farming is the process of growing agricultural crops in vertical stacks in door, in a controlled environment.
• It uses the same amount of water as that of regular farming.
• However, the other raw materials consumed by vertical farming are less.
• According to FAO (Food and Agriculture Organization) of the United Nations, vertical farming consumes 75% less raw material as compared to traditional farming.

Benefits:

• Under Vertical Farming, the plants are grown indoors with or without soil.
• This protects the crops from incessant rains, unruly winds and dry climate.
• The crop yield in vertical farming is more than traditional farming as it adopts two major farming techniques namely hydroponics and aeroponics.

Hydroponics and Aeroponics:

• In Hydroponics technique, roots are submerged in water that is infused with nutrients.
• Aeroponics is a farming method where plants are grown in closed or semi-closed environment with nutrients sprayed in the air.

Vertical farming disadvantages:

• Vertical farming technologies face economic challenges with large start-up costs compared to traditional farms.
• Vertical farms also face large energy demands due to the use of supplementary light like LEDs.
• Moreover, if non-renewable energy is used to meet these energy demands, vertical farms could produce more pollution than traditional farms or greenhouses.

Note – Aquaponics refers to any system that combines conventional aquaculture (raising aquatic animals such as snails, fish, crayfish or prawns in tanks) with hydroponics (cultivating plants in water) in a symbiotic environment.

 

46.Year-end review: Ministry of Agriculture

Why in news?

• Year end review: Ministry of Agriculture

Achievements:

 Soil Health Card 

• During current year (2019-20), 40 lakh Soil Health Card (SHC) has been distributed to farmers under Model Village Project.
• SHC is a printed report which contains nutrient status of soil with respect to 12 nutrients: pH, Electrical Conductivity (EC), Organic Carbon (OC), Nitrogen (N), Phosphorus (P), Potassium (K), Sulphur (S), Zinc (Zn), Boron (B), Iron (Fe), Manganese (Mn), Copper (Cu) of farm holdings.

• SHC will be provided to all farmers in the country at an interval of 2 years to enable the farmers to apply recommended doses of nutrients based on soil test values.

CHC-Farm Machinery

• Muti lingual Mobile App “CHC-Farm Machinery” was launched, which helps the farmers for getting rented farm machinery and implements through Custom Hiring Service Centres (CHC) in their area.   

 Launch of Pradhan Mantri Kisan Maan Dhan Yojana (PM-KMY)

• PM-KMY inaugurated by the Prime Minister Shri Narendra Modi on 12^thSeptember, 2019 provides for payment of minimum pension of 3000/- per month to the eligible small and marginal farmers on attaining the age of 60 years. 
• It is voluntary and contributory pension scheme, with entry age of 18 to 40 years.
• The monthly contribution by farmer ranges between Rs.55 to 200. 
• Central Government will contribute an equal amount in the pension scheme.  Till now 19, 19, 802 beneficiaries have been registered.

 Launch of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)

• PM-KISAN Scheme provides an amount of Rs. 6000/- per year in three equal instalments each of Rs. 2000/- directly into the bank account of beneficiary farmer families.
• The Scheme initially covered only small and marginal farmer families with land holding upto 2 hectares as beneficiaries, subject to certain exclusion criteria for higher income status.
• The Government later extended the scheme with effect from 1^stApril 2019 to all farmer families irrespective of land holding size, subject to applicable exclusions.
• Since the launch of PM Kisan till now about 12 crore farmer families have been benefitted and more than Rs. 48,937 crore has been released under the scheme.
• A new facility has been provided on PM-KISAN Web-portal (www.pmkisan.gov.in) through ‘Farmers’ Corner’ Link to facilitate the farmers for self-registration.

47.Farmers Innovation Fund

Why in news?

• ICAR to set up Farmers’ Innovation Fund

More about

• It is the system introduced by the Indian Council of Agricultural Research (ICAR)to scientifically validate, scale-up and propagate the innovations of progressive farmers.
• The intention was to link farmers and farming with science and to ensure that their farm practices were science-based.
• Innovations of farmers were already being documented by the Krishi Vigyan Kendras; however, the additional system would encourage farmers to continue their work.
• As part of this system, an innovation Centre will be established in New Delhi where the innovations will be scientifically validated.
• As part of efforts to encourage use of technology in farm sector, a linkage had been created between 105 start ups with farmers.
• The ICAR had also developed 45 different organic farming models suitable for different agro-climatic regions and had validated 51 integrated farming systems to help increase farm income.
• ICAR will begin operating the ‘Farmers Innovation Fund’ in fiscal 2020-21.

The Indian Council of Agricultural Research (ICAR)

• It is an autonomous organization under the union Ministry of Agriculture and Farmers Welfare, Government of India.
• The Council is the apex body for coordinating, guiding and managing research and education in agriculture including horticulture, fisheries and animal sciences in the entire country.
• With 101 ICAR institutes and 71 agricultural universities spread across the country this is one of the largest national agricultural systems in the world.

48.Zero Budget Natural Farming (ZBNF)

Why in news?

Andhra Pradesh Government inks pact with KfW on Zero Budget Natural Farming.

More about the News

• The State government signed a Memorandum of Understanding (MoU) with German firm KfW.
• The MoU is aimed at encouraging natural farming in the State. As part it, the government has taken a loan of ₹711 crore out of the estimated amount of ₹1,015 crore earmarked for ZBNF.

Note: Citing the benefits of ZBNF, in June 2018, Andhra Pradesh rolled out an ambitious plan to become India’s first State to practice 100% natural farming by 2024.

 

What is ZBNF?

• It is a method of chemical-free agriculture drawing from traditional Indian practices.
• Using cow dung, urine based formulations and botanical extracts would help farmers in reducing the input cost.
• Intercropping with leguminous crops is one of the components of ZBNF and it improves the crop productivity and soil fertility by way of fixing the atmospheric nitrogen.
• It promotes soil aeration, minimal watering, intercropping, bunds and topsoil mulching and discourages intensive irrigation and deep ploughing.

Background

• It was developed by Subhash Palekar from Maharashtra in the mid-1990s as an alternative to the Green Revolution’s methods, which led to indebtedness and suicide among farmers due to rising cost on external inputs in agriculture.
• During this revolution, impact of chemicals on the environment and on long-term fertility was also very devastating.
• ZBNF would break the debt cycle for many small farmers.

Components of ZBNF

• Jeevamrutha: It is a fermented microbial culture that uses urine and dung from an indigenous cow breed and paste of green gram to rejuvenate the soil to provide micro-nutrients to crops.
• Bijamrita: It is a treatment used for seeds, seedlings or any planting material.
• Acchadana: It promotes mulching and soil aeration for favourable soil conditions.
• Whapasa: It provides moisture to the soil.

 

49.Action Points for Agriculture, Irrigation and Rural Development

Why in news?

• Government unveils 16 point programme in budget 2020 to raise farmers’ income

Budget Allocation

• 2.83 lakh crore to be allocated for the following 16 Action Points:
• 1.60 lakh crore for Agriculture, Irrigation & allied activities
• 1.23 lakh crore for Rural development & Panchayati Raj                          –

Agriculture credit:

• 15 lakh crore target set for the year 2020-21.
• PM-KISAN beneficiaries to be covered under the KCC scheme.
• NABARD Re-finance Scheme to be further expanded.

Blue Economy:

• 1 lakh crore fisheries’ exports to be achieved by 2024-25.
• 200 lakh tonnes fish production targeted by 2022-23.
• 3477 Sagar Mitrasand 500 Fish Farmer Producer Organisations to involve youth in fisheries extension.

Kisan Rail 

• It will be setup by Indian Railways through PPP:
• To build a seamless national cold supply chain for perishables (milk, meat, fish, etc.
• Express and Freight trains to have refrigerated coaches.

Krishi Udaan 

• It will be launched by the Ministry of Civil Aviation:
• Both international and national routes to be covered.
• North-East and tribal districts to realize Improved value of agri-products.

Jaivik Kheti Portal

• Online national organic products market to be strengthened.

PM-KUSUM 

• The scheme is announced to be expanded:
• 20 lakh farmers to be provided for setting up stand-alone solar pumps.
• Another 15 lakh farmers to be helped to solarise their grid-connected pump sets.

Livestock:

• Doubling of milk processing capacity to 108 million MT from 53.5 million MT by 2025.
• Artificial insemination to be increased to 70% from the present 30%.
• MNREGS to be dovetailed to develop fodder farms.
• Foot and Mouth Disease, Brucellosis in cattle and Peste Des Petits ruminants (PPR) in sheep and goat to be eliminated by 2025.

Note:

KCC scheme

• GoI introduced Kisan Credit Card Scheme during 1998-99 to meet the production credit requirement of farmers in a timely and hassle-free manner.
• The scheme was further extended for the investment credit requirements of farmers viz. allied and non-farm activities in the year 2004.
• The Kisan Credit Card scheme, as revised in 2013, aims at providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedure to the farmers for their cultivation. 

50.The Soil Health Card scheme

Why in news?

The study conducted by the National Productivity Council has reported that the use of soil cards has reduced the fertilizer use by 10% in the country.

More about

• A study conducted by the National Productivity Council (NPC) says the application of Soil Health Card recommendations has led to a decline of 8-10% in use of chemical fertilizers.
• It has also raised the productivity by 5-6%.

Soil Health Card (SHC) scheme

• Soil Health Card (SHC) is a Government of India’s scheme promoted by the Department of Agriculture & Co-operation under the Ministry of Agriculture and Farmers’ Welfare.
• It is being implemented through the Department of Agriculture of all the State and Union Territory Governments.

Key features

• The scheme covers all the parts of the country.
• A farm will get the soil card once in every 3 years.
• SHC is a printed report that a farmer will be handed over for each of his holdings.
• It will contain the status of his soil with respect to 12 parameters, namely N,P,K (Macro-nutrients); S (Secondary- nutrient); Zn, Fe, Cu, Mn, Bo (Micro – nutrients); and pH, EC, OC (Physical parameters).
• Based on this, the SHC will also indicate fertilizer recommendations and soil amendment required for the farm.
• Under the Soil Health Card Scheme Phase-I (Years 2015 to 2017) 10.74 crore cards were distributed, while under the Phase-II 11.69 crore cards have been give away during the period 2017-19.

How can a farmer use a SHC?

• The card will contain an advisory based on the soil nutrient status of a farmer’s holding.
• It will show recommendations on dosage of different nutrients needed.
• Further, it will advise the farmer on the fertilizers and their quantities he should apply, and also the soil amendments that he should undertake, so as to realize optimal yields.

Development of Model Villages

• In the current financial year, a pilot project Development of Model Villagesis being implemented under which the sampling and testing of cultivable soil is being encouraged in partnership with the farmers.
• Under the project a Model Village has been selected for aggregation of soil samples and analysis of each agricultural holding.
• As part of the scheme 13.53 lakh Soil Health Cards have been distributed during the year 2019-20
• The scheme provides for the analysis of soil composition by the State Governments once in every two years so that remedial steps can be taken to improve soil nutrients.
• Farmers can track their soil samples and also obtain their soil health card report.
• Under the project soil health laboratories are being set up in the states.
• Under the scheme village youth and farmers up to 40 years of age are eligible to set up soil health laboratories and undertake testing.
• A laboratory costs up to Rs 5 lakhs, 75% of which can be funded by the central and state governments.

51.National Organic food Festival

Why in news?

• National Organic Festival will be organized with a special focus on women entrepreneurs.

More About

• It will be jointly organized by Ministry of Food Processing Industries (MoFPI) and Ministry of Women and Child Development (Mo WCD).
• Theme of the festival is Unleashing India’s Organic Market Potential.
• The event will focus on facilitating business linkages and empowering women entrepreneurs through pre-arranged B2B and B2G meetings.

India’s Organic Production

• With 9th largest World’s Organic Agricultural land and largest number of producers India is fast growing in the organic food segment.
• India produced around 70 million MT (2017-18) of certified organic products which includes all varieties of food products namely Oil Seeds, Sugar cane, Cereals & Millets, Cotton, Pulses, Medicinal Plants, Tea, Fruits, Spices, Dry Fruits, Vegetables, Coffee etc.
• As per the Indian Organic Sector – Vision 2025 report, India’s organic business has immense potential to reach the INR 75,000 crore marks by 2025 from INR 2,700 crore (in 2015).
• On the demand side, increasing disposable incomes, increasing awareness around health and wellness and increasing acceptability are driving the growth in the organic food segment which is expected to grow at a CAGR of 10% during the period 2016-21.
• Demand for Indian organic food products is on constant increase worldwide with India exporting organic products worth $ 515 million in 2017-18 with organic products being exported to USA, European Union, Canada, Switzerland, Australia, Israel, South Korea, Vietnam, New Zealand, Japan etc.
• The major demands under the organic product category are for oil seeds, cereals & millets, sugar, fruitjuice concentrates, tea, spices, pulses, dry fruits, medicinal plant products

52.PM-KISAN Scheme

Why in news?

• PM-KISAN Scheme completes one year on February 24, 2020

About the scheme

• The Scheme was formally launched in 2019.
• Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) is a Central Sector scheme with 100% funding from Government of India.
• The scheme aims to augment the income of the farmers by providing income support to all landholding farmers’ families across the country, to enable them to take care of expenses related to agriculture and allied activities as well as domestic needs.
• Under the Scheme an income support of 6000/- per year is provided to all farmer families across the country in three equal installments of Rs.2000/- each every four months.
• Definition of family for the Scheme is husband, wife and minor children.
• The entire responsibility of identification of beneficiary farmer families rests with the State / UT Governments.
• The fund is directly transferred to the bank accounts of the beneficiaries.
• The total number of beneficiaries expected to be covered under the Scheme is 14 crore on the basis of the Agriculture Census, 2015-16.

Note:

• The Scheme initially provided income support to all small and Marginal Farmers’ families across the country, holding cultivable land up to 2 hectares.

• Its ambit was later expanded to cover all farmer families in the country irrespective of the size of their land.

53.Pradhan Mantri Kisan Sampada Yojana

Why in news?

• 32 projects sanctioned under Pradhan Mantri Kisan Sampada Yojana (PMKSY). Projects to leverage an investment worth 406 crore rupees.

Pradhan Mantri Kisan Sampada Yojana

• PM Kisan SAMPADA Yojana is a central sector scheme aiming to create modern infrastructure with efficient supply chain management from farm gate to retail outlet.
• The main objective of this Scheme is creation of processing and preservation capacities and modernisation of existing food processing units with a view to increasing the level of processing, value addition leading to reduction of wastage.
• The food sector has emerged as a high-growth and high-profit sector due to its immense potential for value addition, particularly within the food processing industry as it is said to have Compound Annual Growth Rate(CAGR) of approximately 8 percent over the last five years.
• The projects approved are running across quadrilaterals of the country covering over 100 agro-climatic zones.  The Processed food market is expected to grow to $ 543 bn by 2020 from $ 322 bn in 2016, at a CAGR of 14.6%.
• MoFPI is implementing PMKSY and the period of implementation is 2016-20 with a total outlay of Rs 6,000 crore.
• The PMKSY has seven component schemes.

1. Mega Food Parks
2. Integrated Cold Chain and Value Addition Infrastructure

• Infrastructure for Agro-Processing Clusters

1. Creation of Backward and Forward Linkages
2. Creation/Expansion of Food Processing and Preservation Capacities
3. Food Safety and Quality Assurance Infrastructure

• Human Resources and Institutions.

 

54.Market Intelligence and Early Warning System 

Why in news?

• Union FPI Minister launches Market Intelligence and Early Warning System (MIEWS) Portal for Monitoring prices of TOP Crops (Tomato, Onion and Potato) and generating alerts.

Market Intelligence and Early Warning System (MIEWS) Web Portal

• MIEWS Dashboard and Portal is a ‘first-of-its-kind’ platform for ‘real time monitoring’ of prices of tomato, onion and potato (TOP) and for simultaneously generating alerts for intervention under the terms of the Operation Greens (OG) scheme.
• The portal would disseminate all relevant information related to TOP crops such as Prices and Arrivals, Area, Yield and Production, Imports and Exports, Crop Calendars, Crop Agronomy, etc in an easy to use visual format.
• As per the terms of the OG Scheme, during a glut situation, evacuation of surplus production from producing areas to consumption centres will be undertaken as determined by the following:
• When the prices fall below preceding 3 years’ average market price at the time of harvest;
• When the prices fall more than 50% compared to last year’s market price at the time of harvest;
• When the prices fall less than the benchmark, if any, fixed by the State / Central Government for a specified period.
• MIEWS system is designed to provide advisories to farmers to avoid cyclical production as well as an early warning in situations of gluts.
• This portal is a novel initiative of MoFPI leveraging IT tools and furthering the goals of Digital India.

OPERATION GREENS SCHEME

• In the budget speech of Union Budget 2018-19, a new Scheme “Operation Greens” was announced on the line of “Operation Flood”, with an outlay of Rs.500 crores to promote Farmer Producers Organizations (FPOs), agri-logistics, processing facilities and professional management.
• Accordingly, the Ministry has formulated a scheme for integrated development of Tomato, Onion and Potato (TOP) value chain.

55.Pesticides Management Bill, 2020

Why in news?

• The Union Cabinet on Wednesday approved the Pesticides Management Bill, 2020.

Key features of the bill

• The bill will empower farmers to get all the information regarding pesticides including their strengths and weaknesses and the risk and alternatives involved, as the data would be made available in open source, in a digital format and in all languages.
• Under the bill, any person who wants to import, manufacture, or export pesticides would have to register and provide all details regarding any claims, expected performance, efficacy, safety, usage instructions, and infrastructure available to stock that pesticide.
• The bill will also include the provision of compensating the farmers in case of losses due to the use of spurious or low quality of pesticides.
• The bill also plans to regulate pesticides-related advertisements to check misleading claims by industries and manufacturers.
• The union government may form a central fund to take care of the compensation.
• It aims to replace the existing Insecticides Act of 1968.

Background

• The centre had released a draft of the Pesticides bill in February 2018 to replace the existing Insecticides Act of 1968.
• The draft bill proposed to raise penalties on the sale of prohibited pesticides to Rs 50 lakh and a jail term up to five years from the current fine of Rs 2,000 and jail term up to three years.
• The Centre for Science and Environment had, however, criticized the 2018 bill for falling short of giving the state governments more power in decision making on pesticide management.
• The centre pointed out that the states should have a say in the final decision making on pesticides, as they understand the agro-ecological climate, environment and soil conditions better.

Note: India is among the leading producers of pesticides in Asia. In the domestic market, Maharashtra, Uttar Pradesh, Punjab, and Haryana are among the states with the highest recorded consumption.

 

56.Crop Diversification Programme (CDP)

Why in news?

• Information regarding Crop Diversification Programme was given by the Union Minister of Agriculture and Farmers Welfare, Shri Narendra Singh Tomar in Lok Sabha.

Crop Diversification Programme (CDP)

• Crop Diversification Programme (CDP) is a sub scheme of Rashtriya Krishi Vikas Yojana (RKVY).
• It is being implemented in Original Green Revolution States to divert the area of paddy crop to alternate crops and in tobacco growing states to encourage tobacco farmers to shift to alternate crops/cropping system.
• Under CDP for replacing paddy crop, assistance is provided for four major interventions viz., alternate crop demonstrations, farm mechanization & value addition, site-specific activities &contingency for awareness, training, monitoring, etc.
• However, for replacing tobacco crop, tobacco growing states have been given flexibility to take suitable activities/interventions for growing alternative agricultural/horticultural crops.
• Government of India also provides flexibility to the states for state specific needs/priorities under RKVY.
• The state can promote crop diversification under RKVY with the approval of State Level Sanctioning Committee (SLSC) headed by Chief Secretary of the State.

57.Kisan Rath App

Why in News:

• Recently, the Ministry of Agriculture & Farmers Welfare has launched ‘Kisan Rath’ Mobile Application (app) to facilitate transportation of foodgrains and perishable during lockdown.

About Kisan Rath App:

• It is being developed by the National Informatics Centre -NIC (backed by the Ministry of Electronics and Information Technology).
• It will be available in eight languages initially, including english and hindi.
• It is expected to connect farmers and traders to a network of more than 5 lakh trucks and 20,000 tractors.
• It is meant to help farmers and traders who are searching for vehicles to move produce. It include Primary transport and Secondary transport.
• Primary transport: It is from the farm to the mandis, local warehouses or the collection centres of Farmer Producer Organisations.
• Secondary transport: It is from the local mandis to intra-and inter-State mandis, processing units, railway stations, warehouses or wholesalers.
• It will be a stepping stone towards provision of timely transportation service at competitive rates for farmers and traders, besides achieving a reduction in food wastage. It will help in ensuring better prices of the produce to Farmers

 

58.New Features of e-NAM platform

Why in News?

• Union Agriculture Ministry launched new features of the National Agriculture Market (e-NAM) Platform to strengthen agriculture marketing by farmers which will reduce their need to physically come to  wholesale mandis  for selling  their harvested produce, at a time when there is a critical need to decongest mandis to effectively fight against COVID-19.

• These software modules are
  • Warehouse Based Trading Module – It enables small & marginal farmers to directly trade their stored produce from selected WDRA registered warehouses which are declared deemed market by the State.
  • FPO Trading Module– It enables FPOs to trade their produce from their collection center without bringing the produce to APMC.
  • An Enhanced Version of the Logistic Module: Trackable transport facilities for inter-state and inter-mandi trade.

e-NAM

• e-NAM was launched on 14 April 2016 as a pan-India electronic trade portal linking APMCs across the States.
• Already 585 mandis in 16 States and 02 Union Territories have been integrated on e-NAM portal.

 

59.Agriculture Export Policy

Why in news?

• Spice farmers, exporters should help India become $5-trillion economy: Minister

Agriculture Export Policy:

• The Agriculture Export Policy was launched in 2018.
• It aims to increase the agricultural export potential of the country.

Objectives of the Agriculture Export Policy:

• To double agricultural exports from present ~US$ 30+ Billion to ~US$ 60+ Billion by 2022.
• To diversify our export basket, destinations and boost high value and value added agricultural exports including focus on perishables.
• To promote novel, indigenous, organic, ethnic, traditional and non-traditional Agri products exports.
• To provide an institutional mechanism for pursuing market access, tackling barriers and deal with sanitary and phyto-sanitary issues.
• To strive to double India’s share in world agri exports by integrating with global value chain at the earliest.
• Enable farmers to get benefit of export opportunities in overseas market.

Elements of the Agriculture Export Policy Framework:

Strategic:

• Policy measures
• Infrastructure and logistics support
• Holistic approach to boost exports
• Greater involvement of State Governments in agri exports

Operational:

• Focus on Clusters
• Promoting value-added export
• Marketing and promotion of “Brand India
• Attract private investments into production and processing
• Establishment of strong quality regimen
• Research & Development
• Miscellaneous

 

60.Pradhan Mantri Fasal Bima Yojana (PMFBY)

Why in news?

• The information about the impact of the scheme was given in a written reply by the Union Minister of Agriculture and Farmers Welfare in Rajya Sabha.

More about the scheme

• Pradhan Mantri Fasal BimaYojana (PMFBY) is the crop damage insurance scheme that has been introduced for implementation from Kharif 2016 season.
• It has replaced the existing two crop insurance schemes National Agricultural Insurance Scheme (NAIS) and Modified NAIS.
• The scheme also aims to cover the risk of crop yield losses of insured farmers against all non-preventable natural risks from pre-sowing to post-harvest and to provide adequate claim amount and timely settlement of claims.
• The Scheme shall be implemented on an Area Approach basis.
• The scheme is voluntary for the States/Union Territories (UTs).
• Scheme was compulsory for loanee farmers obtaining operational agricultural/Kisan Credit Card loans for crops/areas notified by the concerned State Governments and is optional for other farmers.
• However, Government has recently revamped the PMFBY and made the scheme optional for all farmers for its implementation from Kharif 2020.

• Coverage under the scheme has been increased to 30% of Gross Cropped area in the country.

Premium

• There will be a uniform premium of only 2% to be paid by farmers for all Kharif crops and 5% for all Rabi crops.
• In case of annual commercial and horticultural crops, the premium to be paid by farmers will be only 5%.
• The difference between premium rate and the rate of Insurance charges payable by farmers shall be treated as Rate of Normal Premium Subsidy, which shall be shared equally by the Centre and State.

Implementing Agency (IA):

• The Scheme shall be implemented through a multi-agency framework by selected insurance companies under the overall guidance & control of the Department of Agriculture, Cooperation & Farmers Welfare (DAC&FW), Union Ministry of Agriculture & Farmers Welfare (MoA&FW), and the concerned State in co-ordination with various other agencies like financial institutions.

61.Fisheries and Aquaculture Development Fund (FIDF)

Why in news?

• The first tripartite Memorandum of Agreement was signed between the department of Fisheries Government of India, NARBARD and the Government of Tamil Nadu for the implementation of Fisheries and Aquaculture Development Fund (FIDF).

Fisheries and Aquaculture Development Fund (FIDF)

• Fisheries and Aquaculture Development Fund is a dedicated fund created with a total of Rs. 7522.48 crore to address the infrastructure requirement for fisheries sector. 
• FIDF provides concessional finance to the eligible entities, cooperatives, individuals and entrepreneurs for development of identified fisheries infrastructure.
• It promotes deep sea fishing, post harvesting, cage culture and exports.
• The National Bank for Agriculture and Rural Development (NARBARD), National Cooperatives Development Corporation (NCDC) and all scheduled banks are Nodal Loaning entities (NLEs) to provide concessional finance under the (FIDF).
• The Department of Fisheries, under the FIDF provides interest subvention up to 3% per annum for providing the concessional finance by the NLEs at the interest rate not lower than 5% per annum.

 

Index & Report

62.Digital Payments Index (DPI)

Why in news?

• RBI’s DPI to track reach of digitisation of payments in India by July.

Digital Payment Index:

• The main aim of the index creation is to capture the extent of digitization of monetary payments.
• The DPI would be based on multiple parameters and shall reflect accurately the penetration and deepening of various digital payment modes.
• The DPI will be made available from July 2020 onwards.
• The Index will help to study the impact of policy interventions that are being taken by the GoI.
• The digital payment index will allow both consumers and stakeholders to better gauge local area developments in infrastructure, access, demographic and acceptance related growth with reference to broader domestic and global standards in digital payments.
• The index will have classification of urban, semi-urban and rural geographies.

Self-Regulatory Organisation (SRO):

• An SRO is generally a non-governmental organization with the power to create and enforce standalone industry and professional regulations and standards.

Note – Currently, the Payments Council of India (PCI) is the largest industry body that fulfils this role in India’s digital payments industry.

 

63.Enhanced Access and Service Excellence (EASE 3.0)

Why in news?

• Finance Minister launches Ease 3.0 for tech-enabled banking.

Enhanced Access and Service Excellence (EASE 3.0):

• The main aim of EASE 3.0 is to provide advanced solutions that will make the public sector banking smart and technology-enabled.
• By this the initiative intends to achieve ease of banking for customers.
• Digitalising the experience at public sector bank branches is also on the cards under EASE 3.0.

EASE 3.0 reforms agenda include facilities like:

• Palm Banking for “End-to-end digital delivery of financial service”.
• “Banking on Go” via EASE banking outlets at frequently visited spots like malls, stations, complexes and campuses.

EASE:

• EASE is an Enhanced Access & Service Excellenceindex which ranks state-owned banks on several parameters to assess their performance and provide inputs for improvement.

Note– in EASE 2.0, the government had proposed pushing liquidity in the public sector banks, reconstituting the management committee and possible mergers among the ideal partners in the Indian banking sector.

 

64.VIX (Volatility Index)

Context:

• VIX (Volatility index) is recently seen in news.

About VIX:

• It is an index used to measure the near term volatility expectations of the markets.
• It signifies the rate and magnitude of change in the stock price or index value.
• Its movement reflects the overall market volatility expectations over the next 30 days.
• It is also known as ‘fear gauge’ or ‘fear index’. It was first created by the Chicago Board Options Exchange (CBOE) and introduced in 1993 based on the prices of S&P 500 index.

About India VIX:

• It was launched by National Stock Exchange (NSE) in 2010 and is based on the computation methodology of CBOE though amended to align with the Indian markets.
• It indicates the Indian market’s volatility from the investor’s perception.
• Its volatility and the value moves parallel. i.e. a spike in the VIX value means the market is expecting higher volatility in the near future and vice versa.
• It also has a strong negative correlation with Nifty. i.e every time India VIX falls, Nifty rises and when India VIX rises, Nifty falls.
• Its value is among the important parameters that are taken into account for pricing of options contracts, which are one of the most popular derivative instruments.
• National Stock Exchange of India Ltd. (NSE) is the leading stock exchange of India, located in Mumbai. It was established in 1992 as the first dematerialized electronic exchange in the country.

 

65.FISCAL PERFORMANCE INDEX (FPI)

Why in news?

• Industry body CII has come out with a ‘Fiscal Performance Index’ to assess quality of budgets presented by the Centre and state governments.

 About the index

• The composite Fiscal Performance Index (FPI) developed by Confederation of Indian Industry (CII) is an innovative tool using multiple indicators to examine quality of Budgets at the Central and State levels.
• The index has been constructed using UNDP’s Human Development Index methodology.
• The proposed composite index of fiscal performance comprises six components for holistic assessment of the quality of government budgets.
• Quality of revenue expenditure
• Quality of capital expenditure
• Quality of revenue
• Degree of fiscal prudence I: fiscal deficit to GDP
• Degree of fiscal prudence II: revenue deficit to GDP
• Debt index
• As per the new index, expenditure on infrastructure, education, healthcare and other social sectors can be considered beneficial for economic growth.

About Confederation of Indian Industry (CII)

• CII is a non-government, not-for-profit, industry-led and industry-managed organization, playing a proactive role in India’s development process.
• Founded in 1895, India’s premier business association has members, from the private as well as public sectors, including SMEs and MNCs.
• It works to create and sustain an environment conducive to the development of India, partnering industry, Government, and civil society, through advisory and consultative processes.
• The CII Theme for 2019-20 is ‘Competitiveness of India Inc./India@75: Forging Ahead’.

66.LEADS Index

Why in news?

• The Union Minister of Commerce and Industry & Railways chaired a meeting of the Board of Trade, during the inaugural session the LEADS Index – 2019 was released by Commerce and Industry Minister.

More about:

• The LEADS Index is an effort by the Commerce and Industry Ministry to establish the base line of performance in the logistics sector based on the perception of users and stakeholders at the State level.
• It is not an index of the performance of the State Government but may be used to assess the status of logistics efficiency in each State
• The top ranking state in the logistics sector is Gujarat followed by Punjab and Andhra Pradesh.
• Among the hilly Eastern States Tripura is the top performer.
• Among Union Territories (UTs) Chandigarh was selected as the best performing UT.
• The State Logistics Performance Index is arrived at using a ranking methodology based on a series of meetings with stakeholders and online surveys in the key areas of the logistics like infrastructure, services, timelines, traceability, competitiveness, security, operating environment and efficiency of regulation.

 

67.Global Competitiveness Index

Why in news?

• India slips 10 places to 68th on global competitiveness index.

Global Competitiveness Index:

• Released annually by World Economic Forum(WEF).
• The Global Competitiveness Index (GCI), launched in 1979, has been mapping the competitiveness landscape of 141 economies through 103 indicators organised into 12 pillars.

Highlights of the report:

• India has slipped 10 spots to rank 68th in the annual global competitiveness index.
• Last year India was ranked 58th in the annual Global Competitiveness Index.
• Singapore has replaced the United States as the world’s most competitive economy.
• Hong Kong SAR came in at 3rd position while Netherlands was ranked 4th and Switzerland at 5th spot.

Corporate governance:

• India’s rank was as high as 15th in terms of corporate governance and ranks second in the world for shareholder governance, according to the WEF study.
• India also ranked third in terms of market size and renewable energy regulation.

More from the Index:

• Communication and technology adoption in India has been weak; poor health conditions and low life expectancy are other reasons why India ranked low in terms of competitiveness.
• In terms of healthy life expectancy, India has been ranked 109 out of a total of 141 countries surveyed for the index.
• India’s ratio of female workers to male workers of 0.26 has fetched it a rank of 128 while the country was positioned at 118th place in terms of meritocracy and incentivisation.

68.India Innovation Index 2019

Why in news?

• Karnataka tops innovation ranking of states.

India Innovation Index 2019:

• NITI Aayog with Institute for Competitiveness as the knowledge partner released the India Innovation Index (III) 2019.
• The ranking was done in three categories- ‘Major States’, ‘North East and Hill States’ and ‘Union Territories (UTs)/City and ‘Small States’.
• The aim is to create a holistic tool which can be used by policymakers across the country to identify the challenges to be addressed and strengths to build on when designing the economic growth policies for their regions.

Background:

• The index attempts to create an extensive framework for the continual evaluation of the innovation environment of 29 states and seven union territories in India and intends to perform the following three functions:
• Ranking of states and UTs based on their index scores
• Recognizing opportunities and challenges
• Assisting in tailoring governmental policies to foster innovation.
• The India Innovation Index 2019 is calculated as the average of the scores of its two dimensions – Enablers and Performance.

The Enablers are the factors that underpin innovative capacities, grouped in five pillars:

• Human Capital, Investment, Knowledge Workers, Business Environment, and Safety and Legal Environment.

The Performance dimension captures benefits that a nation derives from the inputs, divided in two pillars:

• Knowledge Output and Knowledge Diffusion.

From the Index:

• Karnataka is the most innovative major state in India.
• Followed by Tamil Nadu, Maharashtra, Telangana and Haryana have been ranked as top 5 states in innovation in NITI Aayog’s first Innovation Index.

• Chhattisgarh, Bihar and Jharkhand are at the bottom of the index among states.
• Sikkim and Delhi take the top spots among the north- eastern & hill states, and union territories/city states/small states respectively. 
• Delhi, Karnataka, Maharashtra, Tamil Nadu, Telangana, and Uttar Pradesh are the most efficient states in translating inputs into output.
• Karnataka also holds the top performer in Infrastructure, Knowledge Workers, Knowledge Output and Business Environment.
• Among the category of major states, Maharashtra performs the best in the dimension of Enablers. 

In terms of attracting investment:

• The top position was again bagged by Karnataka among major states, followed by Maharashtra, Haryana, Kerala and Tamil Nadu.
• Bihar, Jharkhand and Punjab were the least attractive states.

Global Innovation Index

• It is published annually by Cornell University, INSEAD and the UN World Intellectual Property Organization (WIPO).
• India’s ranking in the Global Innovation Index 2019 is 52 which show an improvement of 5 points from the last years ranking (57).

 

69.Global Hunger Index 2019 (GHI)

Why in news?

• India bagged the top spot in child wasting rate in the world with an increase of 4.3 percentage points in nine years, according to the Global Hunger Index (GHI).

Global Hunger Index 2019:

• Report published: Annually by Concern Worldwide and Welthungerhilfe.
• Worst as per the report – Central African Republic
• Among the 117 countries, 43 have “serious” levels of hunger. 

(Note – The GHI was initially published by the International Food Policy Research Institute (IFPRI) and Welthungerhilfe)

• In 2007, the Irish NGO Concern Worldwide also became a co-publisher.
• In 2018, the GHI was a joint project of Welthungerhilfe and Concern Worldwide, with IFPRI stepping aside from its involvement in the report.

The 4 Indicators of the Global Hunger Index:

• Under-nourishment: The share of the population that is undernourished 
• Child wasting: The share of children under the age of five who are wasted (i.e. who have low weight for their height, reflecting acute under nutrition)
• Child stunting: The share of children under the age of five who are stunted (i.e. who have low height for their age, reflecting chronic under nutrition)
• Child Mortality: The mortality rate of children under the age of five

 Performance of India:

• India ranked 102 on the index among 117 qualifying countries with a score of 30.3 in Global Hunger Index 2019.

• In 2018 India’s rank 103.
• India has shown improvement in other indicators such as the under-5 mortality rate, prevalence of stunting among children and prevalence of undernourishment owing to inadequate food.
• When it comes to stunting in children under five, the country saw a dip, but it’s still high — 37.9 per cent in 2019 from 42 per cent in 2010.

From the report:

• India bagged the top spot in child wasting rate in the world with an increase of 4.3 percentage points in nine years, according to the Global Hunger Index (GHI).
• Around 90 per cent of children aged between 6 and 23 months in the country don’t even get minimum required food.
• Wasting among children under five rose to 20.8 per cent in 2019 from 16.5 per cent in 2010.

 

70.State Rooftop Solar Attractiveness Index (SARAL)

Why in News?

• The Union Minister of State for Power and New & Renewable Energy (IC) and Skill Development & Entrepreneurship, launched the State Rooftop Solar Attractiveness Index

What is it?

• SARAL is the first of its kind index to provide a comprehensive overview of state-level measures adopted to facilitate rooftop solar deployment.
• SARAL has been designed collaboratively by the Ministry of New and Renewable Energy (MNRE), Shakti Sustainable Energy Foundation (SSEF), Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Ernst & Young (EY).
• It was launched during the Review Planning and Monitoring (RPM) Meeting with States and State Power Utilities.

SARAL currently captures five key aspects –

• robustness of policy framework,
• implementation environment,
• investment climate,
• consumer experience and
• Business ecosystem. Ranking
• The State of Karnataka has been placed at the first rank in the Index that evaluates Indian states based on their attractiveness for rooftop development.
• Telangana, Gujarat and Andhra Pradesh have got 2nd, 3rd and 4th rank respectively.

 

71.Human Development Index 2019

Why in news

• India ranks 129out of 189 countries on the 2019 Human Development Index (HDI) -up one slot from the 130th position last year.

More about the news

• India improved its human development index score to 0.647 to 0.643 and continues as a country with medium human development.
• Norway, Switzerland, Ireland occupied the top three positions in that order.
• Germany is placed fourth along with Hong Kong, and Australia secured the fifth rank on the global ranking.

India’s HDI performance

• India’s ranking improved mainly because of the decline in poverty, improvement in education and health
• At the same time, India’s performance continues to be poor with respect to inequality. Group based inequalities are still high in India especially related to women and children.
• According to the report, South Asia is the region witnessing fastest improvement in HDI understandably because of its past low HDI attainments.
• For inequality-adjusted HDI (IHDI), India’s position drops by one position to 130, losing nearly half the progress (.647 to .477) made in the past 30 years.
• South Asia witnessed 46 per cent growth during 1990-2018, followed by East Asia and the Pacific at 43 per cent.

Human Development Index (HDI)

• It is developed by the UNDP to measure the human welfare and its various aspects; using the variables- life expectancy, literacy and per capita income

72.State Energy Efficiency Index 2019

Why in news?

• Bureau of Energy Efficiency (BEE) launched the State Energy Efficiency Index, 2019 in association with Alliance for Energy Efficient Economy (AEEE).

State Energy Efficiency Index:

• It is developed by the Bureau of Energy Efficiency (BEE) in association with the Alliance for an Energy Efficient Economy (AEEE).
• This index tracks the progress of Energy Efficiency (EE) initiatives in 36 states and union territories based on 97 significant indicators.
• The objective behind releasing this Index is to help states in contributing towards national goals on energy security and climate action by:

• Helping drive energy efficiency policies and program implementation at the state and local level.
• Tracking progress in managing the states’ and India’s energy footprint.
• Institutionalizing data capture and monitoring of energy efficiency activities by states.
• It incorporates qualitative, quantitative and outcome-based indicators to assess energy efficiency initiatives, programs and outcomes in 5 distinct sectors.

1. Buildings
2. Industry
3. Municipalities
4. Transport
5. Agriculture & Discoms

• Also, new indicators for this year include adoption of Energy Conservation Building Code (ECBC) 2017, energy efficiency in MSME clusters, etc.
• It categorizes states as Front Runner, Achiever, Contender, and Aspirant based on their efforts and achievements towards energy efficiency implementation.
• The States or Union Territories are grouped into four groups based on the aggregated Total Primary Energy Supply (TPES) required to meet the state’s actual energy demand (electricity, coal, oil, gas, among others) across sectors.
• Karnataka, Haryana, Himachal Pradesh and Pondicherry led their groups. Manipur, Jammu & Kashmir, Jharkhand and Rajasthan performed the worst in each of their groups.
• The top performing states in the State EE Index 2019 – Haryana, Kerala and Karnataka – are in the Achiever category, since there isn’t any ‘front runner’ state.

Bureau of Energy Efficiency (BEE):

• The Bureau of Energy Efficiency is an agency of the Government of India, under the Ministry of Power created in March 2002 under the provisions of the nation’s 2001 Energy Conservation Act.
• The agency’s function is to develop programs which will increase the conservation and efficient use of energy in India.
• BEE co-ordinates with designated consumers, designated agencies and other organizations and recognize, identify and utilize the existing resources and infrastructure, in performing the functions assigned to it under the Energy Conservation Act

 

73.Global Social Mobility Index 

Why in news?

• India ranks 7th loweston countries providing equal opportunity to all.

What is Social Mobility?

• Social Mobility is the upward or downward movement of an individual in personal circumstances in relation to their parents.
• It can be measured against a number of outcomes ranging from health to educational achievement and income.

About the Index:

• Released by: World Economic Forum (WEF)
• The index measures parameters required for creating equal opportunity for all.
• According to the report, Denmark ranks the first followed by
• The five economies with the most to gain from boosting social mobility are China, the United States, India, Japan and Germany.

The countries’ social mobility was measured based on following five key dimensions distributed over 10 pillars –

• Health; education (access, quality and equity)
• Technology; work (opportunities, wages, conditions)
• Protections and institutions (social protection and inclusive institutions)

About India:

• India has ranked 76th place out of 82 countries on Social Mobility Index.
• It ranks 41st in lifelong learning and 53rd in working conditions.
• The Areas of improvement for India include social protection (76th) and fair wage distribution (79th).

Note – Among the world’s large emerging economies, the Russian Federation is the most socially mobile of the BRICS grouping, ranking 39^th.

 

74.Global Go to Think Tank Index

Why in news?

• CSE leads from Global South among world’s top environment think tanks.

Global Go To Think Tank Index:

• The Index is released by University of Pennsylvania each year since 2008.
• The ‘Think Tank Index’ evaluates public-policy research analysis and engagement organisations that generate policy-oriented research, analysis, and advice on domestic and international issues.
• It claims to enable policy makers and the public to make informed decisions on public policy. 

From India:

• Centre for Science and Environment (CSE) was placed 16 among 2019’s ‘top environment policy think tanks’ of the world.
• The organisation also moved up four places among ‘best independent think tanks’ to be at No.122 in the world and fifth among Indian think tanks.
• It also ranked 18 among 78 global think tanks for its work on ‘water security’ — second in India after Ashoka Trust for Research in Ecology and the Environment.
• Globally, it was ranked 41 of 60 organisations committed to energy and resource policy.
• Note – CSE also received the prestigious Indira Gandhi Prize for Peace, Disarmament and Development for 2018 in 2019 for ‘pioneering work on environment and sustainable development’.

75.Global Intellectual Property Index

Why in news?

• India improves score, ranks 40th among 53 countries.

Global Intellectual Property Index:

• Released by – The Global Innovation Policy Centre (GIPC) of the US Chamber of Commerce.
• India has been ranked 40th out of 53 countries.
• The country has shown improvement in terms of scores when it comes to the protection of IP and copyright issues.
• India’s relative score increased by 6.71 per cent.
• India was placed at 36th position among 50 countries in 2019.
• The US, the UK, Sweden, France and Germany remained the top five economies on the intellectual property index.

Note – The Index evaluates the IP framework in each economy across 50 unique indicators which industry believes represent economies with the most effective IP systems.

• The nine categories of protection: patents, copyrights, trademarks, design rights, trade secrets, commercialization of IP assets, enforcement, systemic efficiency, and membership and ratification of international treaties.

 

Report

76.Ease of Doing Business Report

Why in news?

• Civic bodies’ efforts better India’s World Bank ranking.

About Doing Business project:

• The Doing Business project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.
• The Doing Business project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle.

Ease of Doing Business Report:

• Released by the World Bank.
• The first Doing Business study, published in 2003.
• This year’s study covers 12 indicator sets and 190 economies.

Indicators:

• The 10 areas of study are: starting a business, dealing with construction permits, getting electricity, register­ing property, getting credit, protecting minority inves­tors, paying taxes, trading across borders, enforcing contracts, and resolving in­solvency

Note – Doing Business also measures regulation on employing workers and contracting with the government, which are not included in the ease of doing business score and ranking.

Global Scenario:

• New Zealand, Singapore and Hong Kong topped the list in 2020 report.

 

India and the Ease of doing business report:

 India jumps to 63rd position in World Bank’s Ease of Doing Business 2020 report.

• The country was 77th among 190 countries in the previous ranking.
• The country also figured among the top 10 performers on the list for the third time in a row.
• This is the third year in a row that India makes to top 10 in Doing Business, which is a success which very few countries have done over the 20 years of the project.
• The report assesses improvement in ease of doing business environment in Delhi and
• One of the main reasons for improvement in India’s ranking this year goes to the successful implementation of the Insolvency and Bankruptcy Code.

Note – In 2015, the government’s goal was to join the 50 top economies on the ease of doing business ranking by 2020.

77.India Skills Report 2020

Why in news

• The 2020 India Skills Report was released.

About the report:

• Jointly released by the CII (Confederation of Indian Industry), AICTE (All India Council for Technical Education), UNDP (United Nations Development Programme) and AIU (Association of Indian University).
• The report provides employability of citizens in the country across the states.
• The report also ranked the cities based on the availability of employment.

From the Report:

• Maharashtra tops the list of states with highest employable talent followed by Tamil Nadu and Uttar Pradesh.
• Mumbai followed by Hyderabad came up as the highest employable cities.

Findings:

• About 46 per cent Indian students are employable or ready to take up jobs.
• Of these, the most employable candidates are MBA students with 54 per cent.
• Male and female participants underwent a role reversal in terms of employability scores (from 48% and 46% respectively in 2018 to 46% and 47% respectively in 2019), according to the report. 
• There is an improvement in the availability of employable talent at around 47% in 2019 up from 33.9% in

78.Market Study on E-commerce in India: Competition Commission of India (CCI)

Why in news?

• The Competition Commission of India (CCI) released a Report titled ‘Market Study on E-commerce in India: Key Findings and Observations’.

More about the report

• It was initiated by the CCI in April 2019 with a view to better understand the functioning of e-commerce in India and its implications for markets and competition.
• The objective was also to identify impediments to competition, if any, emerging from e-commerce and to ascertain the Commission’s enforcement and advocacy priorities in light of the same.

Key findings from the report

• India is the fastest growing market for the e-commerce sector.
• Revenue from the sector is expected to increase from USD 39 billion in 2017 to USD 120 billion in 2020, growing at an annual rate of 51 percent, the highest in the world.
• The mobile phone subscriber base in India has increased from 51 million in March 2014 to 1173.75 million in September 2019.
• The number of internet users has increased from 96 million in 2017 to 665.31 million in 2019 and is expected to increase to 829 million in 2021.
• Besides the growth in smartphone penetration and access to internet, the growth of e-commerce has been enabled through introduction of cash on delivery at a time when Indians were still adapting to digital payments.

Competition Commission of India (CCI)

• Competition Commission of India is a statutory body, responsible for enforcing the Competition Act, 2002 throughout India.
• It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.
• The Commission is also required to give opinion on competition issues on a reference received from a statutory authority established under any law and to undertake competition advocacy, create public awareness and impart training on competition issues.

 

79.World Gold Council and “World Gold Outlook 2020”

Why in news?

• Gold sentiment to remain soft in India in 2020, says world body.

About World Gold Council (WGC):

• The World Gold Council is the market development organisation for the gold industry.
• Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market. 
• The headquarters of WGC is located in

Note – The WGC office in India is located in Mumbai.

World Gold Outlook 2020 – India:

• The report says that gold has performed the best since 2010 in 2019.
• In 2019, the gold trade in USD has increased by 18.4% as compared to 2010.
• According to the WGC, RBI (Reserve Bank of India) currently holds 625.2 tonnes of gold.
• With this, India ranks sixth in the world among other central banks.
• The report says that higher taxes have exacerbated the local gold price consumption.
• The recently introduces new hallmarking reforms are expected to increase consumer trust, remove inefficiencies, promote growth and improve confidence.

World:

• The other 5 countries that have bought more gold than India include China, Russia, Kazakhstan, Turkey and Poland.
• In 2019, the largest gold sellers were Uzbekistan and Venezuela, they sold 16.6 tonnes and 30.3 tonnes respectively.

 

80.UN World Economic Situation Prospects (UNWESP) report 2020

Why in news?

• The Indian economy is expected to register a GDP growth of 5.7 per cent this fiscal, according to the newly launched UN World Economic Situation and Prospects (UNWESP) report 2020.

More Information

• The Report states that growth of 2.5 per cent in 2020 is possible, but a flare-up of trade tensions, financial turmoil, or an escalation of geopolitical tensions could derail a recovery.
• Report expects GDP growth in India and few other large emerging countries to gain momentum this year.
• According to the UN study, one in five countries will see per capita income stagnate or decline this year, but listed India among few countries where the per capita GDP growth rate could exceed 4 per cent level in 2020.

In the case of India

• Report has pegged the India GDP growth estimate at 6.6 per cent, lower than 7.4 per cent estimated earlier.
• It has also forecast a 6.3 per cent GDP growth for fiscal 2021-22.

World Economic Situation Prospects (WESP)

• It is a joint product of the United NationsDepartment of Economic and Social Affairs (UN DESA), the United Nations Conferenceon Trade and Development (UNCTAD) and the five United Nations regional commissions;

1. Economic Commission for Africa (ECA)
2. Economic Commission for Europe (ECE)
3. Economic Commission for Latin America and the Caribbean (ECLAC)
4. Economic and Social Commission for Asia and the Pacific (ESCAP)
5. Economic and Social Commission for Western Asia (ESCWA)

• United Nations Conference on Trade and Development (UNCTAD) is a permanent intergovernmental body established by the United Nations General Assembly in 1964. It headquartered in Geneva, Switzerland.
• Trade and Development Report and World Investment Report are the major reports published by it.
• The United Nations Department of Economic and Social Affairs (UN DESA) is part of the United Nations Secretariat and is responsible for the follow-up to major United Nations Summits and Conferences, as well as services to the United Nations Economic and Social Council.

81.National Infrastructure Pipeline (NIP)

Why in News?

• The Task Force on National Infrastructure Pipeline (NIP) submitted its Final Report on NIP for FY 2019-25 to the Union Minister for Finance & Corporate Affairs.

More Information

• NIP is a first-of-its-kind, whole-of-government exercise to provide world-class infrastructure across the country, and improve the quality of life for all citizens.
• It aims to improve project preparation, attract investments (both domestic and foreign) into infrastructure, and will be crucial for achieving the target of becoming a $5 trillion economy by FY 2025.
• The NIP has been made on a best effort basis by aggregating the information provided by various stakeholders including line ministries, departments, state governments and private sector across infrastructure sub-sectors identified in the Harmonised Master List of Infrastructure.
• To draw up the NIP, a bottom-up approach was adopted wherein all projects (Greenfield or Brownfield, Under Implementation or Under Conceptualisation) costing greater than Rs 100 crore per project were sought to be captured.
• The final report identifies and highlights recent infrastructure trends in India as well as global in all sectors of infrastructure
• It also captures sector progress, deficits and challenges. In addition to update existing sectoral policies, the Final Report also identifies and highlights a set of reforms to scale up and propel infrastructure investments in various sectors throughout the country.
• The report also has suggested ways and means of financing the NIP through deepening Corporate Bond markets, including those of Municipal Bonds, setting up Development Financial Institutions for infrastructure sector, accelerating Monetisation of Infrastructure Assets, Land monetisation, etc.
• The Task Force has recommended that three Committees be set up:
  • A Committee to monitor NIP progress and eliminate delays;
  • A Steering Committee in each infrastructure ministry level for following up Implementation; and
  • A Steering Committee in DEA for raising financial resources for the NIP.

• The NIP project database would be hosted on the India Investment Grid (IIG) to provide visibility to the NIP and help in its financing with prospective investors; domestic and foreign, able to access updated project level information.
• Each line Ministry/State would further add new projects and update their respective project details at pre-defined time intervals so that updated data is available to prospective Investors.

 

82.Global Economic Prospects

Why in news?

• World Bank released its Global Economic Prospect.

More about the News

• The World Bank lowered its growth estimate for India to 5 per cent for the current fiscal from the earlier projection of 6 per cent.
• It has forecasted global economic growth at 5 per cent in 2020.

Case of India

• In India, Weakness in credit from non-bank financial companies is expected to linger, growth is projected to slow to 5% in FY 2019/20, which ends March 31 and recover to 8% the following fiscal year.
• Investment and trade in the country is expected to recover. However, the downward risks from 2019 are to continue.
• It also said that the advanced economies are to slip their growth by 1.4% as the manufacturing sector continues to soften.

South Asia outlook

• Growth in the region is expected to rise to 5% in 2020, assuming a modest rebound in domestic demand and as economic activity benefits from policy accommodation in India and Sri Lanka and improved business confidence and support from infrastructure investments in Afghanistan, Bangladesh, and Pakistan.

Global Economic Prospects

• Global Economic Prospects is a World Bank Group flagship report that examines global economic developments and prospects, with a special focus on Emerging Market and Developing Economies (EMDE).
• It is issued twice a year, in January and June.
• The January edition includes in-depth analyses of topical policy challenges while the June edition contains shorter analytical pieces.

 

83.Global Investment Trends Monitor’ Report

Why in news?

• India among top 10 FDI recipients, attracts $49 billion inflows in 2019: UN report

Global Investment Trends Monitor’ Report:

• It is released by UN Conference on Trade and Development (UNCTAD).
• The report states that the global foreign direct investment remained flat in 2019 at $1.39 trillion, a one per cent decline from a revised $1.41 trillion in 2018.
• India was among the top 10 recipients of Foreign Direct Investment (FDI) in 2019, attracting an estimated 49 billion dollars of FDI in 2019, a 16 per cent increase from the previous year.
• South Asia recorded a 10 per cent increase in FDI to $60 billion and “this growth was driven by India.
• The United States is the largest recipient of FDI, followed by China and Singapore.

 Note – According to the report, flows of FDI to developing economies remained unchanged.

 

Misc.

84.FOREIGN DIRECT INVESTMENT (FDI)

Why in news?

• The Union Cabinet announced a number of decisions designed to attract increased foreign direct investment into the country.

 More about the news:

• The Union Cabinet announced a number of decisions designed to attract increased foreign direct investment into the country, including easing local sourcing norms for single-brand retail companies.
• Currently, the FDI policy says that a single-brand retail company with more than 51% FDI needs to source 30% of its goods from within India. The new decision says that this 30% can be calculated over the first five years of operation.
• The current FDI policy provides for 100% FDI under the automatic route in the manufacturing sector. There was no specific provision for contract manufacturing in the policy. It has now decided to allow 100% FDI under the automatic route in contract manufacturing in India as well.
• Single-brand retail companies can now start selling online before setting up a brick and mortar store as long as they set one up within two years of starting online sales. Earlier, they had to set up a brick and mortar store before selling online.

 Changes to the FDI rules for digital media and coal mining:

• It has decided to permit 26% FDI, with government approval, for uploading and streaming news and current affairs using digital media, on the lines of print media.
• It has been decided to permit 100% FDI under automatic route for sale of coal, for coal mining activities including associated processing infrastructure subject to provisions of Coal Mines (special provisions) Act, 2015 and the Mines and Minerals (development and regulation) Act, 1957 as amended from time to time, and other relevant acts on the subject.

Foreign Direct Investment (FDI):

• FDI is investment by non-resident entities like MNCs to carryout business operations in India with management of investment, production of goods or services, employing people and marketing their products.
• In FDI, both the ownership and control of the firm is with the investor.
• The foreign investor usually takes a considerable stake or shareholding in the company and exerts management influences completely or partially, depending on his shareholding.

Foreign Portfolio Investment:

• FPI is investment in shares, bonds, debentures, etc.
• According to the IMF, portfolio investment is defined as cross-border transactions and positions involving debt or equity securities, other than those included in direct investment or reserve assets.

Foreign Direct Investment (FDI) vs Foreign Portfolio Investment (FPI):

• Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI) are the two important forms of foreign capital.
• The real difference is that – FDI aims to take control of the company in which investment is made, FPI aims to reap profits by investing in shares and bonds of the invested entity without controlling the company.

85.V G KANNAN COMMITTEE

• It is a high-level committee under the chairmanship of VG Kannan, Chief Executive of Indian Banks’ Association (IBA) to review the entire gamut of ATM charges and fees.
• It is constituted by RBI.

86.Bharat Net project

Why in news?

• The Digital Communication Commission, the highest decision making body in the Department of Telecom, approved multiple projects worth over Rs 8,500 crore for setting up mobile towers and laying of optical fibre, with an aim to provide improved connectivity.

Bharat Net project:

Ministry: Ministry of Communications

• Objective: To facilitate the delivery of e-governance, e-health, e-education, e-banking and other services to citizens in every part of our country, on a non-discriminatory basis.

Mission: 

• To provide high speed digital connectivity to Rural India at affordable price.
• To provide B2B services in a non-discriminatory manner.
• To facilitate proliferation of broadband services in rural areas so as to foster socio-economic development in line with the vision of ‘Digital India’ programme which has been launched by government of India with the vision to transform India into a digitally empowered society and knowledge economy.

BharatNet:

• Phase I: The target of completing 1,00,000 GPs under phase-I of BharatNet was achieved in December 2017.
• Phase II: BharatNet Phase-II is planned to connect the remaining 1,50,000 GPs, using an optimal mix of media.
• Phase II is being implemented through three models – state-led model, CPSU model, and private sector model.
• BharatNet is being utilized by BSNL, CSC SPV, TSPs and ISPs for delivery of services at Gram Panchayats.

 

87.Insurance Regulatory and Development Authority of India (IRDAI)

Why in news?

• IRDAI issues norms for travel policies sold via portals.

Insurance Regulatory and Development Authority of India (IRDAI):

• It is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India.
• IRDAI is a 10-member body including the chairman, five full-time and four part-time members appointed by the government of India.
• It was created based on the recommendations of the Malhotra Committee, 1999.
• IRDAI’s Head Office – Hyderabad
• Objective of the IRDAI: promotion of competition so as to enhance customer satisfaction through increased consumer choice and fair premiums, while ensuring the financial security of the Insurance market.

 

88.Paryatan Parv

Why in news?

• The Minister of Petroleum and Natural Gas and Minister of Steel, inaugurate the nationwide  Paryatan Parv 2019.

Paryatan Parv:

• It is organised by the Ministry of Tourism.
• The idea of ParyatanParv is to propagate the message of ‘DekhoApnaDesh’, with the objective to encourage Indians to visit various tourist destinations of the country and also to spread the message of ‘Tourism for All’.
• ParyatanParv 2019 is dedicated to 150^thBirth Anniversary of Mahatma Gandhi. 

The three components of ParyatanParv are:

• DekhoApnaDesh:  To encourage Indians to visit their own country.
• In the run up to the parv, several activities have been organised across the Country like Photography contest, Tourism related Quiz, Essay, Debate and Painting Competitions for Students.
• General public engagement for the event will be promoted through the MyGov platform.
• Tourism for All:  Tourism Events at sites across all States in the country are being organised.
• Tourism & Governance:  Interactive Sessions & Workshops with Stakeholders on varied themes have  been organised across the Country as a part of the Paryatanparv activities

 

89.Bureau of Indian Standards (BIS)

Why in news?

• Delhi’s tap water fails to meet BIS test.

Bureau of Indian Standards (BIS):

• BIS is the National Standard Body of India established under the BIS Act 2016 (The Act replaced Bureau of Indian Standards Act, 1986).
• It is responsible for the harmonious development of the activities of standardization, marking and quality certification of goods and for matters connected.
• BIS has been providing traceability and tangibility benefits to the national economy in a number of ways:
• providing safe reliable quality goods;
• minimizing health hazards to consumers;
• promoting exports and imports substitute;

• control over proliferation of varieties etc. through standardization, certification and testing.
• Works under the aegis of Ministry of Consumer Affairs, Food & Public Distribution.
• Headquarters – New Delhi 

Bureau of Indian Standards Act, 2016 Highlights:

• The Act establishes BIS as the National Standards Body of India. .
• Allows multiple conformity assessment schemes in line with global practices.
• Enables the Government to authorize any agency apart from BIS to certify and enforce conformity to a standard.
• Enables the Government to include products under mandatory certification on grounds of health, safety, environment, national security and prevention of deceptive practices.
• Enables the Government to bring Hallmarking of precious metal articles under mandatory certification.
• Provides consumer protection measures like recall of non-conforming standard marked products, compensation to the consumer and more stringent penal provisions.

 

90.Khadi and Village Industries Commission (KVIC)

Why in news?

• The Khadi and Village Industries Commission claimed that Khadi India’s flagship store at Connaught Place made a record sale on the occasion of Mahatma Gandhi’s 150th birth anniversary.

Khadi and Village Industries Commission (KVIC):

• It is a statutory body formed under ‘Khadi and Village Industries Commission Act of 1956’ by Government of India.
• It is an apex organisation under the aegis of Union Ministry of Micro, Small and Medium Enterprises (MSMEs).
• KVIC deals with the issues on raw material procurement, wage levels of rural artisans, technological and design interventions and make it a sustainable and export worthy segment.

Objectives:

• The social objective – providing employment in rural areas
• The economic objective – producing saleable articles
• The wider objective – creating self-reliance amongst the poor and building up of a strong rural community spirit

 

91.Log­X

Why in news?

• DP World (Dubai port) launches tech accelerator for logistics.

Log­X:

• DP world launched national technology accelerator platform for lo­gistics, in partnership with Invest India, Kerala Startup Mission and Startup Réseau.
• To encourage innovation and technology adoption in the Indian logistics sector.
• The programme is curat­ed for entrepreneurs in the logistics and other associat­ed sectors, and
• The goal is to catalyze Indian entrepre­neurs and the start­up com­munity to develop smart trade solutions by leverag­ing massive opportunities offered by digital technology.
• The platform will focus on digital technologies like block chain, artificial intelligence, robotics, simulators and Internet of Things (IOT systems).
• It will seek to identify lo­gistics­ focused technology start­ups through the Star­tup India portal and will look to on board up to 10 se­lected start­ups for conducting pilots.
• The finalized start­ups will be mentored by DP World leadership team and external mentors on boarded to the program.

 

92.Rashtriya Gokul Mis­sion and Livestock Census

Why in news?

• Department of Animal Husbandry & Dairying releases 20th Livestock Census.

From the Livestock Census:

Rashtriya Gokul Mission (RGM):

• Rashtriya Gokul Mission (RGM) has been launched in December 2014.
• Ministry – Ministry of Fisheries, Animal Husbandry & Dairying
• The scheme comprises of two components namely National Programme for Bovine Breeding (NPBB) and National Mission on Bovine Productivity (NMBP).
• Aim – development and conservation of indigenous bovine breeds.
• Rashtriya Gokul Mission will be implemented through the “State Implementing Agency (SIA via Livestock Development Boards).
• Funding Pattern: Scheme is implemented on 100% grant-in-aid basis throughout the country.

Objectives of the Mission:

• Development and conservation of indigenous breeds
• Undertake breed improvement programme for indigenous cattle breeds so as to improve the genetic makeup and increase the stock;
• Enhance milk production and productivity;
• Upgrade nondescript cattle using elite indigenous breeds like Gir, Sahiwal, Rathi, Deoni, Tharparkar, and Red Sindhi.
• Distribute disease free high genetic merit bulls for natural service.

More information

Gokul Gram:

• The Rashtriya Gokul Mission envisages establishment of integrated cattle development centers ‘Gokul Grams’ to develop indigenous breeds including up to 40% nondescript breeds.
• To promote indigenous cattle rearing and conservation in a scientific manner.
• To propagate high genetic merit bulls of indigenous breeds.
• To optimize modern Farm Management practices and promote Common Resource Management.
• To utilize animal waste in economical way i.e. Cow Dung, Cow Urine.

They’ll be established in

• Native breeding tracts
• Near metropolitan cities for housing the urban cattle

E-Pashu Haat:

• An e-market portal connecting breeders and farmers, an authentic market for quality- disease free bovine germplasm in the form of: i) semen; ii) embryos; iii) calves; iv) heifers and v) adult bovines with different agencies/stake holders;

National Kamdhenu Breeding Centre:

• They are being established as Centers of Excellence to develop and conserve Indigenous Breeds in a holistic and scientific manner.

 

93.Unnati MGNREGA

Why in news

• The government has proposed Unnati scheme, offers MGNREGA beneficiaries a skill training programme.

More about

• Under Unnati, the government will provide 100 days of training to one member from each MGNREGA household that completed 100 days of work under MGNREGA in FY19 in skills such as masonry or carpentry.

• The trainee being given a stipend of up to Rs 21,000 for the period; this translates into 100 days of training at the FY19 daily MGNREGA wage rate.
• Since a major reason for workers not opting for skilling was the opportunity cost in terms of lost wages, this takes care of that aspect.
• If the government is able to impart valuable training to workers – this will go a long way in raising their productivity, and hence, incomes.
• Union Ministry of Rural development is piloting the project.

More Information

Livelihoods in Full Employment (LIFE) Project

• The Ministry of Rural Development has formulated a project for ‘Livelihoods in Full Employment’ under Mahatma Gandhi National Rural Employment Guarantee Act (Project LIFE-MGNREGA) in 2015.
• The project aims to promote self-relianceand improving the skill base of the MGNREGA workers, and thereby improving the livelihood of the workers.

 

94.Kisan Pathshala

• Million Farmers’ School (MFS) Programme popularly known as Kisan Pathshala, is a programme of government of Uttar Pradesh with a view to encourage the use of modern farming techniques, to make farming more profitable, sustainable, and resilient.
• It aims to enhance farmers’ incomes through dissemination of agriculture-related information on technology, government schemes, and modern farming methods.

 

95.ANGAN (Augmenting Nature by Green Affordable New-habitat)

Why in News ?

• A three-day international Conference on Energy Efficiency in Building Sector was conducted in Delhi

Information 

• It was an international conference which focused on Energy Efficiency in Building Sector
• The Conference was organized by the Bureau of Energy Efficiency (BEE), Ministry of Power, Government of India in collaboration with GIZ under the Indo German Technical Cooperation
• Speakers, Delegates, Experts and Policy Makers from 16 countries participated in the event
• The Experts discussed various alternative options and technologies in the field of design and construction of energy efficient Commercial as well as Residential Buildings and suggested the effective ways in implementing the same through policies and programmes.

Significance

• The International Conference provided a platform to deliberate on interdependence between organizations, systemic sustainability and feedback loops for better resource efficiency.
• It is estimated that an investment of Rs. 2000 billion in Building energy efficiency activities would lead to a cumulative savings of 388 Billion units of electricity for the next ten years with payback of about 2 years.

 

96.National Animal Disease Control Programme (NACDP)

Why in News?

• Prime Minister Narendra Modi launched the National Animal Disease Control Programme (NADCP).

Information

• India has the world’s largest livestock population of 125-crore plus heads, but cattle productivity is low, and animal diseases are a major concern.
• The diseases have resulted in some overseas markets being shut to Indian dairy and meat products, and prevented the industry from realizing its income potential.
• The program is aimed at eradicating foot and mouth disease (FMD) and brucellosis in livestock.
• The NADCP aims to control these two diseases by 2025, and to eradicate them by 2030.
• According to a government release, the programme aims to vaccinate over 500 million livestock heads, including cattle, buffalo, sheep, goats and pigs, against FMD, and some 36 million female bovine calves annually against brucellosis.
• The programme has received 100% funding from the Centre

Foot and Mouth Disease FMD:

• It is a highly infectious viral disease of cattle, swine, sheep, goats, and other cloven-hooved ruminants.
• FMD is generally not fatal in adult animals but leaves them severely weakened, and results in a drastically reduced production of milk and therefore be financially ruinous for dairy farmers.
• Infected animals get a fever, sores in their mouth, on their teats, and between their hooves
• FMD spreads through excretions and secretions; infected animals also exhale the virus.
• According to the World Organisation for Animal Health, the intergovernmental organisation responsible for improving animal health worldwide, FMD is endemic in several parts of Asia, most of Africa, and the Middle East. Australia, New Zealand, Indonesia, Central and North America, continental Western Europe, and most Latin American countries are FMD-free.
• Measures to stop outbreaks and check FMD transmission include controlled introduction of new animals into existing herds, regular cleaning and disinfection of livestock areas, monitoring and reporting of illness, and use of effective vaccination strategies.

Brucellosis:

• Brucellosis is a zoonotic disease.
• According to the Department of Animal Husbandry and Dairying, it is endemic in most parts of the country.
• Brucellosis causes early abortions in animals, and prevents the addition of new calves to the animal population.
• To control the disease, the World Health Organisation recommends the vaccination of cattle and, in some cases, testing and culling.
• The Brucellosis Control Programme component of the NADCP envisages 100% vaccination coverage of female cattle and buffalo calves (4-8 months of age) once in their lifetimes.

 

97.PM’s Economic Advisory Council reconstituted

Why in News ?

• The government announced that it has reconstituted the Prime Minister’s Economic Advisory Council (EACPM) for a period of two years.

 Information

• Economic Advisory Council is a non-constitutional and non-statutory, non-permanent and independent body.
• It is constituted to provide sound policy advice in key areas such as reviving economic growth and creating enabling conditions for gainful employment.
• The body comprises of economists of high repute and eminence.
• The body is constituted to provide advice on economic issues to the government, specifically to the Prime Minister.
• The advice of the EAC-PM would be either on reference from the PM or suo-motu.
• It submits periodic reports to PM related to macroeconomic developments and issues which will have implications of the economic policy.

 

98.PACEsetter Fund programme

Why in News?

• The Ministry of New and Renewable Energy awarded Grants to the awardees of the second round of PACEsetter fund programme

Information

• The PACEsetter fund was constituted by India and the USA in 2015 as a joint fund to provide early-stage grant funding to accelerate the commercialization of innovative off-grid clean energy products, systems, and business models.
• The mission of the PACEsetter Fund is to accelerate the commercialization of innovative off-grid clean energy access solutions by providing early-stage grant funding that would allow businesses to develop and test innovative products, business models and systems.
• The Fund’s main purpose is to improve the viability of off-grid renewable energy businesses that sell small scale (under 1 megawatt) clean energy systems to individuals and communities without access to grid connected power or with limited/intermittent access.

 

99.“Centre of Excellence” for Citrus Fruit

• It is located at Lunglei and is availing Israeli technology
• It has started providing planting material and training to farmers with collaboration from Israel and some of the officers of Mizoram have already received their training from Israel.
• A tripartite collaboration of the Government of Israel, State Government of Mizoram and the Union Government, with the Ministry of DoNER performing the role of facilitator and coordinator.
• The technical support, planting material and capacity building is being provided by Israel and the Centre specializes in exclusively dealing with the processing of Citrus Fruits.

 

100.Pashmina Products Receive BIS Certification

Why in News?

• Bureau of Indian Standards (BIS) has published an Indian Standard for identification, marking and labeling of Pashmina products to certify its purity.

More information 

• The certification is intended to help curb the adulteration of Pashmina and also protect the interests of local artisans and nomads who are the producers of Pashmina raw material.
• It will also assure purity of the product for customers.
• It is also intended to discourage counterfeit or substandard product in the market.

 

• It will also encourage the younger generation of the community to continue in this profession.
• It will ensure better prices for the goat herding community in Ladakh as well as for the local handloom artisans producing genuine Pashmina products.
• The ministry is processing a proposal for funding of Rs. 20 crore for a de-hairing plant for Leh which along with this initiative will lead to progress in the Pashmina sector in Ladakh.

About Pashmina

• Pashmina is a type of fine cashmere wool.
• Textiles made out of it were first woven in Kashmir.
• Pashmina comes from the Persian word for “made from wool”.
• It was first called “cashmere” because westerners first encountered it in Kashmir.
• The wool is taken from various breeds of Cashmere goat.
• Ladakh produces 50 MT of the finest grade of Pashmina in the world (12-15 microns).

 Pashmina Herders

• The nomadic Pashmina herders live in the hostile and tough terrain of Changthang.
• They are dependent on Pashmina for their livelihood.
• Currently, there are 2400 families rearing 2.5 lakh goats.

About Changthangi or Pashmina goat

• It is a special breed of goat indigenous to the high altitude regions of Ladakh.
• The goat grows a thick, warm undercoat which is the source of Kashmir Pashmina wool.
• The goats are generally domesticated and reared by nomadic communities called the Changpa in the Changthang region of Greater Ladakh.

 

101.PAiSA

• Launched in November 2018, PAiSA is a centralized IT platform which simplifies and streamlines release of interest subvention under the Mission.
• It offers end to end online solution for processing, payment, monitoring and tracking of interest subvention claims from banks on a monthly basis.
• Claims for subvention are uploaded by banks through their CBS (Core Banking Solution) in respect of the beneficiaries of the Self Employment Programme, which are verified and approved by the ULB and State concerned.
• The approved claim amount gets credited directly to the beneficiary’s loan account through DBT mode.
• SMS is also sent to the beneficiary’s mobile number intimating the credit of subvention amount.

102.Harmonized System Code

Why in news

• In a long awaited move to make export of Khadi, exclusively categorized from the general league of textile products, the ministry of commerce and industries has allocated separate HS codefor this signature fabric of India.

Harmonized System (HS) code

• HS Stands for Harmonized System and it is a six digit identification code.
• It was developed by the WCO (World Customs Organization)
• Custom officers use HS Code to clear every commodity that enters or crosses any international border.

World Customs Organization

• The World Customs Organization (WCO), established in 1952 as the Customs Co-operation Council (CCC) is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of Customs administrations.
• Today, the WCO represents 183 Customs administrations across the globe that collectively process approximately 98% of world trade. 

103.eBक्रय

Why in news?

• Finance Minister launches eBक्रय for online auction of assets attached by banks.

More about

• PSBs have attached assets worth over Rs. 2.3 lakh crore over the last three financial years.
• eBक्रय is a common e-auction platform launched to enable online auction of attached assets by banks, transparently for improved realisation of value.
• The platform is equipped with property search features and navigational links to all PSB e-auction sites.
• It provides single-window access to information on properties up for e-auction as well as facility for comparison of similar properties.
• It also contains photographs and videos of uploaded properties.
• As on 27.12.2019, a total of 35,000 properties had been uploaded on the platform by PSBs.

104.Follow on public offer (FPO)

Why in news?

• Public sector ITI Ltd. is scheduled to float a follow on public offer (FPO) to list an additional 18 crore equity shares in the third or fourth week of January.

Follow on public offer (FPO)

• A follow-on public offering (FPO) is the issuance of shares to investors by a company listed on a stock exchange.
• A follow-on offering is an issuance of additional shares made by a company after an initial public offering (IPO).
• Companies usually announce FPOs to raise equity or reduce debt.
• The two main types of FPOs are dilutive—meaning new shares are added—and non-dilutive—meaning existing private shares are sold publicly.

At-the-Market Offering (ATM)

• If the company is not satisfied with the available price of shares on a given day, it can refrain from offering shares.
• At-the-Market Offering is a type of FPO by which a company can offer secondary public shares on any given day, usually depending on the prevailing market price, to raise capital.

105.Core Investment Companies (CIC)

Why in news

• RBI panel moots tighter norms for CICs

More about the news

• The recommendations were made by the Working Group to Review Regulatory and Supervisory Framework for Core Investment Companies set up by the central bank on 3 July and headed by Tapan Ray, former secretary of the corporate affairs ministry.

Major recommendations:

 Core investment companies (CICs) will have to form board level committees, appoint independent directors and conduct internal audits.

• Prepare consolidated financial statement and ring-fence the boards of CICs by excluding employees or executive directors of group companies from its board.
• Step-down CICs may not be permitted to invest in any other CIC, but can invest freely in other group companies.
• The capital contribution by a CIC in a step-down CIC can be over and above 10% of its owned funds. It should be deducted from its adjusted net worth, as applicable to other NBFCs.
• The number of layers of CICs in a group should be restricted to two and any CIC within a group shall not make investment through more than a total of two layers of CICs, including itself.

Core Investment Companies

• Core Investment Companies (CICs) are a specialized Non-Banking Financial Companies (NBFCs).
• They have asset size of Rs 100 crore and above.
• Their main business is acquisition of shares and securities with certain conditions.
• It holds not less than 90% of its net assets in the form of investment in equity shares, preference shares, bonds, debentures, debt or loans in group companies.
• Group companies are an arrangement involving two or more entities related to each other through any of the following relationships, viz., Subsidiary, Joint venture, Associate, Promoter-promotee for listed companies, a related party, Common brand name, and investment in equity shares of 20% and above.
• Core investment companies investments in the equity shares (including instruments compulsorily convertible into equity shares within a period not exceeding 10 years from the date of issue) in group companies constitutes not less than 60% of its net assets.
• It does not trade in its investments in shares, bonds, debentures, debt or loans in group companies except through block sale for the purpose of dilution or disinvestment.
• It does not carry on any other financial activity referred to in RBI Act, 1934 except investment in bank deposits, money market instruments, government securities, loans to and investments in debt issuances of group companies or guarantees issued on behalf of group companies.
• It accepts public funds.

 

106.Kerala fiber optic network project

Why in news?

• Kerala to provide free high-speed internet connections to the poor.

Kerala fiber optic network project:

• The fibre-optic network project will be completed by December 2020.
• The project seeks to fulfil the government’s aim of making internet access a ‘citizen’s right’.
• The project has been named Kerala Fiber Optic Network (KFON) and those eligible for a free connection will be provided the internet at a low cost.
• The project aims to provide free high-speed internet to over 20 lakh below poverty line (BPL) households.
• It aims to improve the information technology (IT) infrastructure at educational institutions, ports and airports.
• The project will be implemented through Kerala State Electricity Board (KSEB) and Kerala IT Infrastructure Limited.

107.QR Code

Why in news

• At AIIMS, scan QR code to pledge your organs.

QR Code:

• The QR Code is a two-dimensional version of the barcode.
• A QR code consists of black squares arranged in a square grid on a white background, which can be read by an imaging device such as a camera.
• QR contains information about the item to which it is attached.
• ‘QR’ stands for “Quick Response”.
• First designed in 1994 for the automotive industry in Japan. 
• Applications include product tracking, item identification, time tracking, document management, and general marketing.

What is Bharat QR?

• Bharat QR is P2M (Person to Merchant) Mobile payment solution.
• This solution is mutually derived among NPCI, Visa and MasterCard payment networks.
• Once the BQR codes are deployed on Merchant locations, user can pay the utility bills using BQR enabled mobile banking apps without sharing any user credentials to the merchant.
• It is a quick method of payment.
• Bharat QR code has lots of additional data elements like merchant name, address, Merchant Bank information, etc.

How Bharat QR works?

• Bharat QR works as an alternate channel of payment, where cardholder has to download his/her bank’s Bharat QR enabled mobile banking app.
• User has to scan the Bharat QR code at Merchant store and select card to make payment.
• Once the payment is successful, both cardholder and merchant receive notification in mobile application for successful transaction.

108.The Code on Wages 2019

Why in news

• Why is it necessary to fix a minimum wage? (Hindu explains).

The Code on Wages 2019

• It seeks to regulate wages and bonuses for all workers employed by any industry, trade, business or

The Code replaces four laws;

• Payment of Wages Act, 1936
• Minimum Wages Act, 1948
• Payment of Bonus Act, 1965
• Equal Remuneration Act, 1976

• The code on wages is one of the four codes that would subsume 44 labour laws with certain amendments to improve the ease of doing business and attract investment for spurring growth.

• The four codes will deal with wages, social security, industrial safety and welfare, and industrial relations.
• It universalizes the provisions of minimum wages and timely payment of wages to all employees irrespective of the sector and wage ceiling and seeks to ensure “Right to Sustenance” for every worker and intends to increase the legislative protection of minimum wage.
• It has been ensured in the code that employees getting monthly salary shall get the salary by 7th of next month, those working on a weekly basis shall get the salary on the last day of the week and daily wagers should get it on the same day.
• At present, the provisions of both the Minimum Wages Act and Payment of Wages Act apply on workers below a particular wage ceiling working in Scheduled Employments only.
• Many unorganized sector workers like agricultural workers, painters, persons working in restaurants and Dhabi, chowkidars, etc. who were out of the ambit of minimum wages will get legislative protection of minimum wages under the code.
• It simplifies the methodology to fix minimum wage by doing away with the “type of employment” as one criterion. The minimum wage fixation would primarily be based on geography and skills.
• In order to ensure transparency and accountability, the code seeks to reform the inspection regime by introducing web based random computerised inspection scheme, jurisdiction-free inspections, calling of information electronically, the composition of fines, etc.
• To streamline the claims of workers, the limitation period for filing claims for minimum wages, bonus, equal remuneration has been raised to 3 years.
• It prohibits gender discrimination in matters related to wages and recruitment of employees for the same work or work of similar nature.

Floor Wage

• A National Floor Level Minimum Wage will be set by the Centre to be revised every five years, while states will fix minimum wages for their regions, which cannot be lower than the floor wage.
• The current floor wage, which was fixed in 2017, is at Rs 176 a day, but some states have minimum wages lower than it such as Andhra Pradesh (Rs 69) and Telangana (Rs 69).

109.National Food Security Mission (NFSM) – Oilseeds and Oil Palm

Why in news?  

• Information regarding National Food Security Mission (NFSM) – Oilseeds and Oil Palm was given in a written reply by the Minister of State Consumer Affairs, Food and Public Distribution in Lok Sabha.

National Food Security Mission (NFSM) – Oilseeds and Oil Palm:

• The Government is implementing the National Food Security Mission (NFSM) – Oilseeds and Oil Palm to increase production of oilseeds and domestic availability of edible oils.
• The NFSM–(OS&OP) is under implementation in 28 States and has three subcomponents namely, Oilseeds, Oil palm and Tree Borne Oilseeds (TBOs).
• The main objective is to increase oilseeds production & productivity and area expansion under oil palm & TBOs cultivation. 
• More than 12 per cent of total cropped area in the country is used for cultivation of oilseeds.
• To reduce import dependency, besides NFSM (OS&OP), Government of India is promoting pulses and oilseeds cultivation in rice fallow areas in different states.

National Food Security Mission:

• Government enacted that National Food Security Act, 2013 (NFSA) in July 2013 with an intended coverage of upto 75% of rural population and upto 50% of urban population for receiving highly subsidized food grains under Targeted Public Distribution System.
• One of the guiding principles of the Act is its life cycle approach wherein special provisions for supplementary nutrition have been made for pregnant women and lactating mothers and children in the age group of 6 months to 14 years.
• National Food Security Mission (NFSM) was launched in 2007-08 to increase the production of rice, wheat and pulses.
• Coarse cereals were also included in the Mission from 2014-15 under NFSM.
• NFSM continued during 12th Five Year Plan with the target of additional production of 25 million tonnes of food grains.
• Beyond the 12th Plan, the mission is being continued with new additional target of 13 million tonnes of food grains from 2017-18 to 2019-20.

110.Strategic Disinvestment

Why in news?

• The Government has given ‘in-principle’ approval for strategic disinvestment of 28 Central Public Sector Enterprises (CPSEs) including subsidiaries, Units and Joint Ventures with sale of majority stake of Government of India and transfer of management control.

Strategic Disinvestment:

• Disinvestment means the dilution of stake of the Government in a public enterprise.
• Strategic disinvestment is transferring the ownership and control of a public sector entity to some other entity (mostly to a private sector entity).
• If the government is selling minority shares in a PSE (less than 50%), it will continue to be the owner of the PSE. This is normal disinvestment 
• Strategic disinvestment is the sale of a substantial portion of the Government shareholding of a central public sector enterprise (CPSE) of 50% or more along with transfer of management control.
• The Department of Investment and Public Asset Management (DIPAM)under the Ministry of Finance has been made the nodal department for the strategic stake sale in the Public Sector Undertakings (PSUs).
• DIPAM and NITI Ayog will jointly identifying PSUs for strategic sale.
• Cabinet Committee of Economic Affairs (CCEA) is mandated to approve strategic disinvestment of CPSEs.

111.Industrial Relations Code Bill

Why in news?

• Cabinet approves Industrial Relations Code Bill, 2019.

Industrial Relations Code Bill, 2019:

• The Industrial Relations Code Bill, 2019, aims to bring together and simplify provisions of three laws co­vering trade unions, indus­trial employment and disputes.
• The “most important feature” of the Bill was that “fixed term employment as opposed to con­tract that prevails widely to­day has been given permission.”
• The Bill would pave the way for setting up at wo-­member tribunal for in­dustrial disputes, instead of one, which would allow for some “important cases” to be “adjudicated jointly and the rest by a single member resulting in speedier dispo­sal of cases.”
• The bill provides for vesting of powers with the government officers for adjudication of disputes involving penalty as fines thereby lessening the burden on tribunal.
• The bill also provides for definition of Fixed Term Employment and that it would not lead to any notice period and payment of compensation on retrenchment excluded.
• The Bill would also give flexibilty for exit provisions, related to retrenchment.
• The draft code on Industrial Relations has been prepared after amalgamating, simplifying and rationalising the relevant provisions of three Central Labour Acts –
• The Trade Unions Act, 1926,
• The Industrial Employment (Standing Orders) Act, 1946 and
• The Industrial Disputes Act, 1947.

112.National Industrial Corridor Development and Implementation Trust

Why in news

• Government of India has approved the development of following five industrial corridor projects to be implemented through National Industrial Corridor Development and Implementation Trust (NICDIT).

Different Industrial corridors Proposed:

Sl. No	Industrial Corridor	States
1	Delhi Mumbai Industrial Corridor (DMIC)	Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh
2	Amritsar Kolkata Industrial Corridor (AKIC)	Punjab, Haryana, Uttar Pradesh, Uttarakhand, Bihar, Jharkhand, West Bengal
3	Chennai Bengaluru Industrial Corridor (CBIC)	Andhra Pradesh, Karnataka, Tamil Nadu, Kerala
4	East Coast Economic Corridor (ECEC) with Vizag Chennai Industrial Corridor (VCIC) as Phase-1	West Bengal, Odisha, Andhra Pradesh, Tamil Nadu
5	Bengaluru Mumbai Industrial Corridor (BMIC)	Karnataka, Maharashtra

 National Industrial Corridor Development and Implementation Trust:

• NICDIT will be the apex body to oversee integrated development of all industrial corridors across the country.
• It will implement all the five proposed industrial corridors, together covering 15 States.

113.Hathkargha Samvardhan Sahayata Yojana

Why in news

• Under Hathkargha Samvardhan Sahayata (HSS) technological up-gradation items like loom, jacquard, dobby and accessories are provided to the handloom weavers, this information was given by the Union Minister of Textiles, in written reply in the Lok Sabha.

Hathkargha Samvardhan Sahayata Yojana:

• The Government of India has launched the Hathkargha Samvardhan Sahayata Yojana for the welfare of handloom weavers.
• The scheme was introduced to facilitate technology up-gradation in the handloom sector by providing 90% subsidy for the purchase of looms and accessories by the weavers.

Objectives:

• To facilitate the up-gradation of technology in loom units.
• To encourage the development of capabilities to create employment opportunities in emerging technological areas.

Selection of Beneficiaries:

• The Weavers Service Centre will prepare the list of beneficiaries in association with the implementing agency and State Directorate of Handlooms.
• The preference will be given to the weavers who have undergone training in weaving in the last 2 years under various government programmes including Block Level Clusters and are willing to contribute 10% of the cost.

114.Milk Production in India

Why in news?

• The Union Minister for Fisheries, Animal Husbandry & Dairying Shri Giriraj Singh addressed entrepreneurs, milk producer farmers, academia and media on the occasion of National Milk Day-2019 in New Delhi.

Milk Production in India

• Milk production has increased significantly from 137.7 million tonnes in 2013-14 to 187.75 million tonnes in 2018-19, thereby indicating an increase by 36.35%.
• Similarly, the per capita availability of milk increased from 307 grams in 2013-14 to 394 grams in 2018-19. 
• Annual growth rate of Milk Production during the period 2009-14 was 4.2%, which has increased to 4% during 2014-19.
• The annual growth rate of world milk production has increased by 1.2% during 2014-19.
• Since last 20 years, India continues to be the largest producer of milk in the world.
• About 70 million rural households are engaged in dairying in India with 80% of total cow population.
• During the last 15 years, Milk Cooperatives have converted about 20% of milk procured into traditional and value added products that offers about 20% higher revenue.

What are the steps taken by government in increasing production?

Rashtriya Gokul Mission: Its objective is to preserve and develop indigenous bovine.

Activities to be taken under this mission: 

• Establishment of Gokul Gram, awarding farmers and institutes involved in the scientific rearing of Indigenous animals.
• E-Pashu Haat portal: Helping the livestock rearers and the farmers to sell and purchase Cattle and Buffaloes of Indigenous Breeds.
• National Kamdhenu Breeding Centres: Two National Kamdhenu Breeding Centres are being established (one in Madhya Pradesh and the other in Andhra Pradesh).
• These will be centres of excellence for preservation and development of Indigenous Breeds in a scientific way.

115.Extra Neutral Alcohol (ENA)

Why in news?

• Alcohol manufacturers have written to NITI Aayog asking for reduction in import duty. 

Extra Neutral Alcohol (ENA):

• Extra Neutral Alcohol (ENA) is the primary raw material for making alcoholic beverages. 
• ENA is a by-product of the sugar industry, and is formed from molasses that are a residue of sugarcane processing.
• It is a colourless food-grade alcohol that does not have any impurities.
• It has a neutral smell and taste, and typically contains over 95 per cent alcohol by volume.

What is ENA’s use, and how is it prepared?

• Used in the production of alcoholic beverages such as whisky, vodka, gin, cane, liqueurs, and alcoholic fruit beverages.
• ENA also serves as an essential ingredient in the manufacture of cosmetics and personal care products such as perfumes, toiletries, hair spray, etc.
• ENA finds industrial use and is utilised in the production of some lacquers, paints and ink for the printing industry, as well as in pharmaceutical products such as antiseptics, drugs, syrups, medicated sprays.

116.AYUSH Grid

Why in news?

• Ministry of AYUSH has finalised components of AYUSH Grid Project in consultation with various stakeholders.

More about

• The AYUSH Grid is envisaged as a comprehensive IT backbone covering the different silos of the AYUSH Sector.
• Ministry of AYUSH has taken up various pilot projects like AYUSH Hospital Management Information System (A-HMIS), Yoga locator application, Telemedicine, Yoga Portal, A-HMIS trainings, IT course for AYUSH Professionals, etc. which shall be merged into AYUSH Grid Project after completion of pilot period.
• Ministry of AYUSH has also signed Memorandum of Understanding (MoU) with Ministry of Electronics and Information Technology (MeitY) for technical help in AYUSH Grid Project.

The main components of AYUSH GRID Project are as under:

• Health Services
• Education
• Research
• Central Sector and Centrally Sponsored Schemes
• Training
• Citizen Centric Services
• Drug Licencing Portal
• Media Outreach

117.Intellectual Property Appellate Board (IPAB)

Why in news?

• Union Minister clarified that there is no proposal to amend the provisions for filing SLP directly against orders of IPAB.

More about

• The applicants of all Intellectual Property Rights (IPRs) can directly file Special Leave Petition (SLP) before the Hon’ble Supreme Court against any order of Intellectual Property Appellate Board (IPAB).
• They can also prefer writ petition before the High Court against orders of IPAB and IP offices by invoking Article 226 of the Constitution of India and then file SLP before the Supreme Court.

Intellectual Property Appellate Board (IPAB)

• Intellectual Property Appellate Board (IPAB) constituted the central government in the ministry of Commerce and Industry in 2003.
• IPAB has its headquarters at Chennai and shall have sitting at Mumbai, Delhi, Kolkata and Ahmedabadh.
• It was constituted to resolve the appeals against the decisions of registrar under Indian Trademarks Act 1999.
• Each bench of IPAB consists of a judicial member as well as a technical member.
• Appeal from the decision of the controller to IPAB must be made within three months.

Special Leave Petition (SLP)

• Under Article 136, the Constitution of India gives power to the Supreme Court to grant special permission or leave to an aggrieved party to appeal against an order passed in any of the lower courts or tribunals in India.

118.International Financial Services Centres (IFSC)

Why in news

• The Bill to set up a unified Authority to regulate financial products.

More about the news

• The International Financial Services Centres Authority Bill, 2019 is likely to be taken up by Parliament for discussion next week.
• The Bill will be applicable to all International Financial Services Centres (IFSCs) set up under the Special Economic Zones Act, 2005.

International Financial Services Centres (IFSC)

• An IFSC caters to customers outside the jurisdiction of the domestic economy.
• Such centres deal with flows of finance, financial products and services across borders.
• London, New York and Singapore can be counted as global financial centres.
• It would provide corporates easier access to global financial markets.
• The first IFSC in India has been set up at the Gujarat International Finance Tec-City (GIFT City) in
• In India the SEZ Act 2005 allows setting up an IFSC in an SEZ or as an SEZ after approval from the central government.

119.AIM-SIRIUS Programme

Why in news

• The second phase of AIM-SIRIUS Deep Technology Learning, Innovation Programme in Sochi concludes.

SIRIUS:

• SIRIUS – Scientific International Research in Unique Terrestrial Station.
• It belongs to Russia.

Aim of the Atal Innovation Mission (AIM) and the Russian Federation’s SIRIUS Educational Foundation Cooperation:

• To promote innovative cooperation between students of India and Russia
• To remove cultural and language barriers between students of Russia and India
• To share best practices in the promotion of educational, scientific, innovative achievements, promote innovative cooperation, and search
• To develop talented youth of both countries fostering a knowledge-driven innovation ecosystem in both the countries.

Note – The program has been co-created by both SIRIUS and AIM stimulating cross border collaboration and innovations between the youth of both the countries.

120.Infrastructure Investment Trusts (InvIT)

Why in news?

• The Union Cabinet approved to the proposal of Ministry of Road Transport and Highways, authorizing National Highways Authority of India (NHAI) to set up Infrastructure Investment Trust(s) (InvIT) as per InvIT Guidelines issued by SEBI.

Infrastructure Investment Trusts (InvIT)

• This will enable NHAI to monetize completed National Highways that have a toll collection track record of at least one year and NHAI reserves the right to levy toll on the identified highway.
• NHAI’s InvIT will be a Trust established by NHAI under the Indian Trust Act, 1882 and Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.
• The InvIT Trust will be formed with an objective of investment primarily in infrastructure projects (as defined by Ministry of Finance).
• InvIT may hold assets either directly or through an SPV or a holding.

121.Home delivery of services scheme

Why in news

• adds 30 more services to doorstep delivery scheme.

Home delivery of services scheme

• Under the scheme launched by Delhi government September 2018, people can call a helpline number (1076) to have various documents and services delivered at their doorstep.
• Citizens, by paying a nominal fee of Rs 50, will be able to issue and retrieve important documents right from the comfort of their homes by Skipping long queues, and the unnecessary hassle.
• After a request is placed, Mobile Sahayaks (Mobile helpers) will reach the applicant’s doorstep to get the necessary details and documents which are needed.
• The mobile sahayak will be equipped with all the necessary equipment for the process including biometric devices, camera and printer. Once the process is completed, the documents will be mailed to the citizen’s house.

• The government will provide public services such as marriage registration, caste and income domicile to water connections, driving licenses, pension schemes, permanent IDs for disabled, land record reports and registration of construction workers etc.
• Success rate in doorstep delivery scheme is 91% as compared to other ways.

122.Recycling of Ships Act

Why in news?

• The Recycling of Ships Bill, 2019 has become an Act. It became Act after it received the assent of President of India on 13^thDecember, 2019.

More about

• The government decided to bring this Act to provide for the regulation of recycling of ships by setting certain international standards and laying down the statutory mechanism for enforcement of such standards.
• Accordingly, India has acceded to Hong Kong International Convention for Safe and Environmentally Sound Recycling of Ships, 2009 on 28^thNovember, 2019.

Recycling of Ships Act, 2019

• The Recycling of Ships Act, 2019 restricts and prohibits the use or installation of hazardous materials, which applies irrespective of whether a ship is meant for recycling or not.
• For new ships, such restriction or prohibition on use of hazardous materials will be immediate, that is, from the date the legislation comes into force, while existing ships shall have a period of five years for compliance.
• Restriction or prohibition on use of hazardous materials would not be applied to warships and non-commercial ships operated by Government.
• Ships to be recycled in India shall be required to obtain a Ready for Recycling Certificate in accordance with the HKC.
• The Act imposes a statutory duty on ship recyclers to ensure safe and environmentally sound removal and management of hazardous wastes from ships.

Significance

• Accession to Hong Kong Convention by India and enactment of Recycling of Ships Act, 2019 will raise the profile of our ship recycling industry as being environment friendly and safety conscious and would go a long way in consolidating India’s position as the market leader.

123.GeM Samvaad

Why in news?

• Government e-commerce portal GeM on Tuesday launched a national outreach programme, GeM Samvaad, to bring on-board more local sellers.

More about

• The outreach programme will take place from 19 Dec 2019 to 17 Feb 2020 and will cover all States and Union Territories (UTs) of the country.
• GeM Samvaad outreach programme will involve local sellers and stakeholders across the country to facilitate on-boarding of local sellers on marketplace while catering to specific requirements as well as procurement needs of buyers.
• Through GeM Samvaad, marketplace is also looking forward to receive feedback from users which would be used for making improvements and advancements in system.

Government e Marketplace (GeM)

• It is the national public procurement portal that offers end to end solutions for all procurement needs of Central and State Government Departments, autonomous institutions, Public Sector Units (PSUs) and local bodies.
• GeM was launched on 9 August 2016 and since its commencement, it has transformed public procurement in India by leveraging technology and making procurement contactless, paperless, and cashless.
• GeM aims to enhance transparency, efficiency and speed in public procurement.
• It provides the tools of e-bidding, reverse e-auction and demand aggregation to facilitate the government users, achieve the best value for their money.

124.Quality Council of India (QCI)

Why in news?

• Nearly 67 pc of imported toys are dangerous for kids says QCI survey.

Quality Council of India (QCI):

• Established in 1997 Quality Council of India (QCI) is an autonomous organization under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.

• It was setup jointly by the Government of India and the Indian Industry represented by the three premier industry associations i.e. Associated Chambers of Commerce and Industry of India (ASSOCHAM) Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI)
• It aims to establish and operate national accreditation structure and promote quality through National Quality Campaign. 
• It is the Quality Apex and National Accreditation Body for accreditation and quality promotion in the country.
• The Council was established to provide a credible, reliable mechanism for third party assessment of products, services and processes which is accepted and recognized globally.
• Chairman of QCI is appointed by the Prime Minister on recommendation of the industry to the government.

125.ICEDASH & ATITHI

Why in news

• Union Minister of Finance and Corporate Affairsunveiled two new IT initiatives – ICEDASH and ATITHI – for improved monitoring of Customs clearance of imported goods and facilitating arriving international passengers by electronic filing of Customs baggage and currency declarations.

ICEDASH

• ICEDASH is an Ease of Doing Business monitoring dashboard of the Indian Customs helping public sees the daily Customs clearance times of import cargo at various ports and airports.
• With ICEDASH, Indian Customs has taken a lead globally to provide an effective tool that helps the businesses compare clearance times across ports and plan their logistics
• This dashboard has been developed by CBIC in collaboration with NIC (National Informatics Centre).
• ICEDASH can be accessed through the CBIC website.

ATITHI

• With ATITHI, CBIC has introduced an easy to use mobile app for international travelers to file the Customs declaration in advance.
• Passengers can use this app to file declaration of dutiable items and currency with the Indian Customs even before boarding the flight to India. 
• ATITHI is available on both, iOS and android.

126.North East Gas Grid project

Why in news?

• Cabinet approves Capital Grant as Viability Gap Funding to Indradhanush Gas Grid Limited for setting up the North East Natural Gas Pipeline Grid

The North East Gas Grid project

• As per the plan, Gas Pipeline Grid would be developed in the eight states of the North-Eastern region i.e. Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.
• Total length of pipeline is 1656 KM and tentative project cost is Rs 9265 crore.
• Quantum of viability Gap Funding (VGF) would be capped at 60% of estimated project cost.
• The Capital Grant will provide natural gas supplies to various types of consumers viz. Industrial, Domestic, CNG (Transport) etc. 
• Availability of Natural gas across the region is expected to boost industrial growth without impacting the environment.
• Reduction in the usage of kerosene, wood will improve the environment in the region.

Background:

• Indradhanush Gas Grid Limited (IGGL) is a joint venture company of five Central Public Sector Enterprises (IOCL, ONGC, GAIL, Oil India Limited and Numaligrh Refinery Limited) incorporated to develop and operate Natural gas pipeline grid in North-East region.

Viability Gap Funding

• It is usually seen that many projects, like a road connecting a rural area, generates high economic returns, but the financial returns may not be sufficient for a profit seeking investor.
• In such condition, the project would not attract private investment. In such cases, the government extends its support to the investors by sharing a f fraction of the cost, making the project viable.
• For the successful completion of such projects, the government has designed Viability Gap Funding (VGF).
• Viability Gap Finance means a grant to support projects that are economically justified but not financially viable.

 

127.Green Credit Scheme

Why in news?

• Forest Committee approves scheme to ‘trade’ in forests.

More about the news:

• The Forest Advisory Committee, an apex body tasked with adjudicating requests by the industry to raze forest land for commercial ends, has approved a scheme that could allow “forests” to be traded as a commodity.

• If implemented, it allows the Forest Department to outsource one of its responsibilities of reforesting to non-government agencies.

Need of the scheme:

• In the current system, industry needs to make good the loss of forest by finding appropriate non-forest land equal to that which would be razed.
• It also must pay the State Forest Department the current economic equivalent called Net Present Value (NPV) of the forest land.
• NPV is actually a one-time payment that a user has to make for diverting forestland for non-forest use.
• It’s then the Forest Department’s responsibility to grow appropriate vegetation that, over time, would grow into forests.
• Industries have often complained that they find it hard to acquire appropriate non-forest land, which has to be contiguous to existing forest.
• Nearly ₹50,000 crore had been collected by the Centre over decades, but the funds were lying unspent because States were not spending the money on re-growing forests.

Green Credit Scheme:

• It allows agencies such as private companies, village forest communities to identify land and begin growing plantations.
• After three years, they would be eligible to be considered as compensatory forest land if they met the Forest Department’s criteria.
• An industry needing forest land could then approach the agency and pay it for parcels of such forested land, and this would then be transferred to the Forest Department and be recorded as forest land.
• The participating agency will be free to trade its asset that is plantation, in parcels with project proponents who need forest land.

Projected benefits of the scheme:

• It will encourage plantation by individuals outside the traditional forest area and will help in meeting international commitments such as sustainable development goals and nationally determined contributions.

 

128.Integrated Road Accident Database (IRAD)

Why in news?

• The government launched a central accident database management system that will help in analyzing causes of road crashes and in devising safety interventions to reduce such accidents in the country.

More about the news

• The data base has been developed by the Indian Institute of Technology-Madras (IIT-M) and will be implemented by the National Informatics Centre (NIC).
• The project costs ₹258 crore and is being supported by the World Bank.
• The system will be first piloted in the six States with highest fatalities from road crashes,Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Uttar Pradesh.
• The IRAD will be improved on the basis of the learnings from the trial, following which it will be rolled out across the country.

How it works?

• The IRAD mobile application will enable police personnel to enter details about a road accident, along with photos and videos, following which a unique ID will be created for the incident.
• Subsequently, an engineer from the Public Works Department (PWD) or the local body will receive an alert on his mobile device.
• He or she will then visit the accident site, examine it, and feed the required details, such as the road design.
• Data thus collected will be analyzed by a team at IIT-M, which will then suggest if corrective measures in road design need to be taken.
• Road users will also be able to upload data on road accidents on a separate mobile application, which is expected to go live from April 1.

National Informatics Centre(NIC)

• NIC of the Ministry of Electronics and Information Technology provides network backbone and e-Governance support to the Central Government, State Governments and UT Administrations.
• It was established in 1976 and is located in New Delhi.

 

129.Mandatory Gold Hallmarking In India

Why in news?

Hallmarking made must for gold jewellery in India.

More about the news

• Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present.
• The BIS is already running a hallmarking scheme for gold jewellery since April 2000 and around 40% of gold jewellery is being hallmarked currently.
• This will become mandatory from January 15, 2021.
• Instead of 10 grades earlier, hallmarked gold jewellery will now be available in three grades of 14 carat,18 carat and 22 carat.
• It will contain four marks:

1. BIS Mark
2. Purity In Carat
3. Assay Centre’s Name
4. Jewellers Identification Mark

• Any violation will attract minimum fine of Rs 1 lakh or 5 times the price of the article.
• The mandatory hallmarking will protect the public against lower caratage and ensure consumers do not get cheated while buying gold ornaments.

Note: India is the largest importer of gold, which mainly caters to the demand of jewellery industry. In volume terms, the country imports 700-800 tonne of gold annually.

 

130.Saksham

Why in news?

• Saksham is strengthening its foot print as a flagship Fuel Conservation mega campaign program of the country.

Saksham

• ‘Saksham’ is an annual one-month long, people-centric fuel conservation mega campaign of Petroleum Conservation Research Association (PCRA) under the aegis of Ministry of Petroleum and Natural Gas.

 Petroleum Conservation Research Association

• PCRA has been creating awareness amongst the general public about the need for fuel conservation and adopting tips for saving the fuel.
• PCRA has prepared a comic book jointly with NCERT on the theme ‘Fuel Conservation’ aimed at younger generation especially the school children and is available on E-Pathshala on NCERT website.
• Petroleum Conservation and Research Association (PCRA) in association with Institute of Petroleum-Dehradun has developed high energy efficient PNG burner/Gas stove for household.
• On mass awareness about fuel conservation, PCRA has developed an animated documentary ‘Pollution Ka Solution” which is available on PCRA website and YouTube.
• The annual Saksham National Competition which generally is launched in the month of July, involving schools and students in Essay, Painting and Quiz competition is a big hit now.

131.HURL

Why in news?

• The Union Minister for Chemicals and Fertilizers, Shri D.V. Sadananda Gowda launched the “APNA UREA – SonaUgle” brand of Hindustan Urvarak & Rasayan Limited (HURL).

More about

• HURL is Joint Venture Company promoted by the three Maharatna Companiese. Coal India Limited (CIL), NTPC Limited (NTPC) and Indian Oil Corporation Limited (IOCL) as the lead promoters.
• With the objective of making the country self-reliant in Urea, the Government approved in 2016 the revival of three sick Urea plants located at Gorakhpur (UP), Sindri (Jharkhand) and Barauni (Bihar).
• The task of the revival of these three Units has been undertaken by HURL.
• The commissioning of HURL’s three Units in the states of UP, Bihar and Jharkhand will open forward and backward linkages for business activity in the Eastern part of India.
• After the commissioning of these units, the total production of Urea will increase by 63.5 Lakh Metric Tonne Per Annum (LMTPA).
• The feedstock to the plants i.e. Natural Gas will be supplied by GAIL under the Pooled Price Mechanism.

Background

• India’s average urea import is to the tune 63.12 LMT while the average total production of urea in the country is around 241 LMT.
• The total consumption (Sales) is 305.48 LMT approximately.
• The gap is fulfilled through imports.

 

132.National Start-up Advisory Council

Why in news?

• The Central Government has notified the structure of the National Start-up Advisory Council to advise the Government on measures needed to build a strong ecosystem for nurturing innovation and start-ups in the country.

National Start-up Advisory Council

Objectives:

• The Council will suggest measures to foster a culture of innovation amongst citizens and students in particular.
• It will support creative and innovative ideas through incubation and research and development to transform them into valuable products.
• It will also suggest measures to facilitate public organizations to assimilate innovation with a view to improving public service delivery.

Structure:

• The National Start-up Advisory Council will be chaired by Minster for Commerce & Industry.
• The Council will consist of the non-official members, to be nominated by Central Government, from various categories like founders of successful startups, veterans who have grown and scaled companies in India etc.
• The term of the non-official members of the Startup Advisory Council will be for a period of two years.
• The nominees of the concerned Ministries/Departments/Organisations, not below the rank of Joint Secretary to the Government of India, will be ex-officio members of the Council. 
• Joint Secretary, Department for Promotion of Industry and Internal Trade will be the Convener of the Council.

133.UNAIDS

Why in news?

• The Union Minister of State for Shipping (I/C) and Chemical & Fertilizers Shri Mansukh Mandaviya participated in the High-level roundtable of UNAIDS (The Joint United Nations Programme on HIV/AIDS) at World Economic Forum atDavos, Switzerland.

• Theme: Access for all: Leveraging Innovations, Investments and Partnerships for Health.
• UNAIDS was established in 1996, headquartered in Geneva.
• It provides the strategic direction, advocacy, coordination and technical support needed to catalyse and connect leadership from governments, the private sector and communities to deliver life-saving HIV services.
• UNAIDS is leading the global effort to end AIDS as a public health threat by 2030 as part of the Sustainable Development Goals.
• SDG-3 deals with ensuring healthy lives and promoting wellbeing for all at all ages. (Including universal access to HIV prevention services, sexual and reproductive health services and drug dependence treatment and harm reduction services).

134.Paris Convention for Protection of Industrial Property

Why in news?

• State-owned Khadi Village Industries Corporation is eyeing international trademark for ‘khadi’ under the Paris Convention for protection of industrial property to prevent any product from masquerading as ‘khadi’ nationally or globally.

More about the news

• KVIC is fighting cases in several countries including Germany for violation of the Khadi Mark regulations.
• The Regulations issued in 2013 by the Ministry Of Micro, Small and Medium Enterprises, empower KVIC to grant ‘Khadi Mark’ registration and take royalties from any producer using the Khadi mark.

Paris Convention for Protection of Industrial Property (1883)

• The Paris Convention is a multilateral treaty dealing with the protection of industrial property in the widest sense.
• It includes patents, trademarks, industrial designs, utility models (a kind of “small-scale patent” provided for by the laws of some countries), service marks, trade names (designations under which an industrial or commercial activity is carried out), geographical indications (indications of source and appellations of origin) and the repression of unfair competition.
• The substantive provisions of the Convention fall into three main categories: National Treatment, Priority Right and Common Rules.
• It is administered by the World Intellectual Property Organization (WIPO), one of the specialized agencies of the United Nations dealing with the protection and promotion of intellectual property rights.
• Article 6 of the Paris Convention of 1883 protects armorial bearings, flags and other State symbols of the States part to the convention, including official signs, and hallmarks indicating control and warranty adopted by them.

 

135.GATI Portal

• The Union Ministry of Road Transport & Highways launched online Web Portal GATI.

More about the portal

• The portal has been created by National Highways Authority of India (NHAI) taking inspiration from the PRAGATI Portal used by Prime Minister’s Office (PMO).
• It can be accessed from NHAI Website and contractors/concessionaires can raise any project related issues on the Portal.
• The issue will immediately come to the notice of every official of NHAI including top management, and immediate action will be taken by the concerned officer, duly updating on the Portal.
• The issues raised in the GATI will be daily monitored by a team of officers in NHAI and will be constantly reviewed by the senior officers of NHAI and the Ministry of Road Transport & Highways.
• This will bring transparency and speed up the decision making giving real GATI to highway construction.

PRAGATI (Pro-Active Governance and Timely Implementation)

• It is a multi-purpose and multi-modal platform that is aimed at addressing common man’s grievances, and simultaneously monitoring and reviewing important programmes and projects of the Government of Indiaas well as projects flagged by State Governments.
• The Platform uniquely bundles three latest technologies: Digital data management, video-conferencing and geo-spatial technology.
• It also offers a unique combination in the direction of cooperative federalism since it brings on one stage the Secretaries of Government of Indiaand the Chief Secretaries of the States.
• With this, the Prime Minister is able to discuss the issues with the concerned Central and State officials with full information and latest visuals of the ground level situation.

136.Key Highlights of Union Budget

Why in news?

• The Key Highlights of Union Budget 2020-21 are as follows:

Three prominent themes of the Budget

• Aspirational India– better standards of living with access to health, education and better jobs for all sections of the society
• Economic Development for all– “Sabka Saath , Sabka Vikas , Sabka Vishwas”.
• Caring Society– both humane and compassionate; Antyodaya as an article of faith.

Three components of Aspirational India

• Agriculture, Irrigation, and Rural Development
• Wellness, Water, and Sanitation
• Education and Skills

Achievements of Indian Economy

• India is now the fifth largest economy of the world.
• 4% average growth clocked during 2014-19 with inflation averaging around 4.5%.
• India’s Foreign Direct Investment elevated to US$ 284 billion during 2014-19 from US$ 190 bn during 2009-14.
• Central Government debt reduced to 48.7% of GDP (March 2019) from 52.2% (March 2014).

Key budget figures

• The Indian Budget 2020 is of 30.42 lakh crore rupees.
• The expenditure has increased significantly when compared with the Union Budget 2019, where the expenditure figure was 26.98 lakh crore rupees.
• The total revenue expected in the financial year 2020-21(without considering borrowing) is only Rs. 22.45 lakh crores. i.e the government needs to borrow Rs. 7.96 lakh crore in the financial year 2020-21 to meet its expenditure.
• As per budget 2020, Fiscal Deficit is 3.5% of GDP (Borrowings and other liabilities are known as Fiscal Deficit)
• Ideally, Fiscal Deficit should be kept below 3% of GDP. The current rate is above the Financial Responsibility and Budget Management Act (FRBM) guidelines.

Disinvestment plans:

• The government will try to meet its expenditure by selling the shares of public limited companies. Under the usual disinvestment route, it is targeting Rs.1,20,000 crore.
• It also aiming for another Rs. 90,000 crore via the disinvestment of Government stake in Public Sector Banks and Financial Institutions.

137.Another major port proposed

Why in news?

• The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its ‘in-principle’ approval for setting up a Major Port at Vadhavan near Dahanu in Maharashtra.

More about

• Vadhavan port will be developed on “land lord model”.
• A Special Purpose Vehicle (SPV) will be formed with Jawaharlal Nehru Port Trust (JNPT) as the lead partner with equity participation equal to or more than 50% to implement the project.
• The SPV will develop the port infrastructure including reclamation, construction of breakwater, besides establishing connectivity to the hinterland.
• All the business activities would be undertaken under PPP mode by private developers.

Jawaharlal Nehru Port

• The position of JN Port, the biggest container port in India is 28^thin the world with a traffic of 5.1 million TEUs (Twenty-Foot Equivalent Units).
• Even after the completion of 4th terminal at JN Port with a capacity increase upto10 million TEUs by 2023; it will stand as the 17^thlargest container port in the world.
• With the development of Vadhavan port, India will break into the countries with top 10 container ports in the world.

Background

• There is a need for a deep draft port that will accommodate the largest Container Ships in the world and also cater to the spillover traffic from JNPT port once its planned capacity of 10 million TEUs is fully utilized.
• The Vadhavan port has a natural draft of about 20 meters close to the shore, making it possible for it to handle bigger vessels at the port.

Land lord port model

• As noted, the landlord port is characterized by its mixed public-private orientation. Under this model, the port authority acts as regulatory body and as landlord, while port operations (especially cargo handling) are carried out by private companies.
• In the landlord port model, infrastructure is leased to private operating companies or to industries such as refineries, tank terminals, and chemical plants.
• The private port operators provide and maintain their own superstructure including buildings (offices, sheds, warehouses, container freight stations, workshops).

138.Mandatory declarations on pre-packaged commodities

Why in news?

• Information regarding the mandatory declarations required to be made on all pre-packaged commodities was given by Minister of State for Ministry of Consumer Affairs in Rajya Sabha.

More about

• The penalty provisions are made under section 36(1) of the Legal Metrology Act, 2009 for the violation in respect of the mandatory declarations on the label.
• For food products the provisions of the Food Safety & Standards Act, 2006 are also applicable.
• Under the provisions of the Legal Metrology Act, 2009 and the Legal Metrology (Packaged Commodities) Rules, 2011, State Governments take action for violations of the Rules.

What are the mandatory declarations on the label?

• Name and address of the manufacturer/packer/importer
• Country of origin
• Name of the commodity
• Net quantity
• Month and year of manufacturing
• Retail sale price in the form of Maximum Retail Price (MRP) Rs…… (inclusive of all taxes) consumer care details etc

139.Web Portal for Star Rating of Mines

Why in news?

• Web Portal Launched for Star Rating of Mines in India

• In order to promote green, safe and sustainable mining practices using technology as a tool, Ministry of Coal (MoC) has launched a web portal for star rating of coal mines.
• The portal enables all operational coal mines across India for self-rating, their subsequent validation by Coal Controller’s Organization (CCO), further evaluation and finally award of star rating.
• All the mines will be given an official certificate by the CCO mentioning their star rating and the particular reporting year.
• The mines that score from 91 to 100% will get 5 star, 81 to 90% 4 star, 71 to 80% 3 star, 61 to 70% 2 star, 41 to 60% 1 star and mines that score from 0 to 40% will get No star on the portal as per laid down procedures of the Star Rating Policy for Coal Mines in India. 
• The portal will provide a login to each coal mine for self-evaluation along with necessary documents for testimonials.

140.Financial year and Fiscal Year

Why in news?

• RBI to sync its accounting year with govt’s fiscal year from 2020-21.

• The Reserve Bank of India (RBI) will align its financial accounting year with that of the central government (fiscal year) with effect from 2020-21.
• The decision was taken at a meeting of the RBI’s central board.
• The board recommended aligning the financial year of the RBI, currently July-June, with the government’s fiscal year (April-March) from the year 2020-21 and approved forwarding a proposal to the government for its consideration.
• With this move, the central bank will do away with nearly eight decades of practice.
• Taking advantage of the RBI’s different accounting year, the Centre had started demanding an interim dividend till the time the latter’s final balance sheet is prepared (usually in August).
• To address this anomaly, an expert committee led by former RBI governor Bimal Jalan had recommended aligning the RBI’s financial year with that of the government.

141.India: First country to made entire Haj process Digital

Why in news?

• Government fulfilled the dream of “Ease of Doing Haj” for Indian Muslims: Shri Mukhtar Abbas Naqvi , Union Minister for Minority Affairs.

More about

• India has become the first country in the world which has made the entire Haj 2020 process 100 per cent digital.
• The digital platform has removed middlemen ensuring Haj pilgrimage become affordable in comparison to last several decades.
• Online application, E-Visa, Haj mobile app, “E-MASIHA” health facility, “E-luggage pre-tagging” providing all information in India itself regarding accommodation/transportation in Makkah-Madinah have been provided to Indian Muslims going for Haj.
• SIM card has been linked to mobile app which will ensure Haj pilgrims immediately getting all the latest information regarding Haj in Makkah-Madina on their mobile phone.
• “E-MASIHA” (E-Medical Assistance System for Indian Pilgrims Abroad), an online system to create and maintain the complete health database of Indian pilgrims along with doctors’ prescriptions as well as medical treatment to deal any emergency in Makkah-Madinah.
• Haj Group Organisers (HGOs) have also been connected with 100 per cent digital system which has ensured transparency in their functioning.
• In 2020, a total of 2 lakh Indian Muslims will perform Haj and more than 2100 Muslim women will go to Haj without “Mehram” (male companion).

142.US removed “developing” tag for India

Why in news?

• On February 10, the U.S. removed more than a dozen countries, including India, from its list of countries that are classified as “developing” for trade purposes.

What is the “developing country” status?

• Countries that are classified as “developing” are allowed to export certain goods to the U.S. without being hit by punitive tariffs that are usually imposed on goods from “developed” countries.
• The “developing country” status owes its origin to the U.S. Trade Act of 1974, which authorised the Generalized System of Preferences (GSP) to help poor countries develop faster.
• These benefits were extended further under the World Trade Organization wherein rich countries agreed to grant trade benefits to countries that classified themselves as poor. 

Why is India being stripped of this status?

• US argued that countries like India and China have witnessed significant growth in the last few decades. This, it believes, is enough reason to scale back the various trade benefits.
• It has further cited the share of global trade enjoyed by India and China and their membership in the G20 club to argue that they enjoy significant economic power.

Note – With the current change in India’s status under the USTR’s classification, the task of reclaiming the lost GSP benefits now becomes even harder. 

How will the U.S. decision affect global trade?

• It will increase the overall tax burden on goods crossing international borders. 

143.Third Global Ministerial Conference on Road Safety

Why in news?

• India needs to invest USD 109 billion to halve its road accident fatalities in next decade: World Bank

More about the News:

• The World Bank report titled “Delivering Road Safety in India” was released at the ‘Third Global Ministerial Conference on Road Safety’ in Stockholm.
• It points to the high death rate on India’s roads caused by chronic lack of investment in systemic, targeted, and sustained road safety programmes and identifies relevant investment priorities to reverse the trend.

Third Global Ministerial Conference on Road Safety:

• The conference is co-sponsored by the World Health Organization (WHO) and hosted by Sweden (Stockholm).
• The conference marks the end of the UN Decade of Action for Road Safety 2011–2020 and the starting point for continued collaboration on road safety.
• The theme for the 3rd Global Ministerial Conference on Road Safety is “Achieving Global Goals 2030”.
• The conference adopted the “Stockholm Declaration” which calls for a new global target for road safety for 2030 and a set of innovative solutions to save lives on the world’s roads.
• India has reaffirmed its commitment to the United Nations goal set under the UN Decade of Action of drastically reducing road accidents by the year 2030 during the event.

 

144.Mission Purvodaya

Why in news?

• Petroleum and Natural Gas & Steel Minister Shri Dharmendra Pradhan met Chief Minister, Odisha Shri Naveen Patnaik, along with H.E. Ambassador of Japan to India, Mr. Satoshi Suzuki, in Bhubaneswar. Avenues for collaboration, particularly in the steel sector were discussed.

• Government of India is keen to have Japan to be partner country in Mission Purvodaya envisioned by Hon. Prime Minister to ensure development of Eastern India.

Mission Purvodaya

• Mission Purvodaya in steel sector envisions to create an integrated steel hub in Eastern India.
• More than 75% of India’s envisioned incremental steel capacity will come from eastern India, with Odisha alone crossing 100 MTPA.
• Japanese technological expertise, investments will further strengthen the steel sector in Odisha and drive socio-economic growth.
• With abundance of raw materials, strategic geographical location and strong and developing connectivity, Odisha is well poised to be the heart of this eastern steel hub.
• In Odisha, Kalinga nagar will be developed as the epicentre of Mission Purvodaya.
• Working together with the Odisha Govt. central ministries and industry, Steel Ministry aims to make Kalinganagar, a vibrant hotspot of global steel industry.

 

 

145.Pradhan Mantri Ujjwala Yojana 

Why in news?

• LPG scheme closed, but only 3 States have become kerosene-free.

Pradhan Mantri Ujjwala Yojana:

• Under the PM Ujjwala Yojana, the government aims to provide LPG connections to BPL households in the country and is launched in 2016.
• The scheme is aimed at replacing the unclean cooking fuels mostly used in the rural India with the clean and more efficient LPG (Liquefied Petroleum Gas).
• The scheme will be implemented by the Ministry of Petroleum & Natural Gas.
• LPG connection is issued in the name of adult woman.
• Under the scheme, the identification of BPL households is based on the Social Economic and Caste Census (SECC) 2011 data.  

Objectives of the scheme are:

• Empowering women and protecting their health.
• Reducing the serious health hazards associated with cooking based on fossil fuel.
• Reducing the number of deaths in India due to unclean cooking fuel.
• Preventing young children from significant number of acute respiratory illnesses caused due to indoor air pollution by burning the fossil fuel.

Note– Only three States — Harya­na, Punjab and Andhra Pra­desh — and the Union Terri­tories of Delhi, Chandigarh,

• Daman & Diu, Dadar & Na­gar Haveli, Andaman & Nico­bar Islands and Puducherry have become kerosene­ free.

 

146.Women Transforming India Awards

Why in news?

• NITI Aayog organized the Fourth Edition of the Women Transforming India Awards.

Women Transforming India Awards

• It was initiated in 2016 by NITI Aayog, in partnership with MyGov and the UN India.
• The award recognizes women who are providing innovative developmental solutions for the empowerment of nation through their businesses and enterprises.
• Since 2018, the Awards have been hosted under the aegis of NITI Aayog’s Women Entrepreneurship Platform (WEP) with a special focus on entrepreneurship.
• The theme for WTI awards 2019 was “Women and Entrepreneurship”.

Women Entrepreneurship Platform (WEP)

• Women Entrepreneurship Platform is a flagship initiative of NITI Aayog.
• The platform aspires to substantially increase the number of women entrepreneurs who will create and empower a dynamic New India.
• The three pillars on which WEP is built:
• Ichha Shakti (motivating aspiring entrepreneurs to start their enterprise)
• Gyaan Shakti (providing knowledge and ecosystem support to women entrepreneurs to help them foster entrepreneurship)
• Karma Shakti (providing hands-on support to entrepreneurs in setting-up and scaling up businesses).
• WEP aims to address the bottlenecks faced by both aspiring and established women entrepreneurs by streamlining information across government and private sector schemes and initiatives.

 

147.Additional Tier-1 bonds or AT-1

Why in news?

• RBI regulates AT1 bonds.

AT-1 bonds:

• AT-1 bonds are a type of unsecured, perpetual bonds that banks issue to shore up their core capital base to meet the Basel-III norms.
• AT-1 bonds are like any other bonds issued by banks and companies, but pay a slightly higher rate of interest compared to other bonds.
• The RBI is the regulator for these bonds.

Two Routes through which these bonds can be acquired:

• Initial private placement offers of AT-1 bonds by banks seeking to raise money.
• Secondary market buys of already-traded AT-1 bonds.

Are these bonds traded in the market?

• These bonds are listed and traded on the exchanges. So, if an AT1 bondholder needs money, he can sell it in the market.

How are AT1 bonds redeemed?

• Investors cannot return these bonds to the issuing bank and get the money, this means there is no put option available to its holders.

• However, the issuing banks have the option to recall AT-1 bondsissued by them (termed call options that allow banks to redeem them after 5 or 10 years).

Basel-III Norms

• It is an international regulatory accord that introduced a set of reforms designed to improve the regulation, supervision and risk management within the banking sector, post 2008 financial crisis.
• Under the Basel-III norms, banks were asked to maintain a certain minimum level of capital and not lend all the money they receive from deposits.

 

148.Regional Connectivity Scheme – UDAN

Why in news?

• Wings India 2020, the biennialcivil aviation and aerospace event was launched at Hyderabad.

More about the Event

• The event is being organized by Ministry of Civil Aviation along with Airports Authority of India and FICCI (Federation of Indian Chambers of Commerce & Industry).
• More than 100 exhibitors, over 20 states and over 500 delegates are participating in the flagship event of Civil Aviation.

Regional Connectivity Scheme – UDAN

• Ude Desh Ka Aam Naagrik (UDAN) was launched as a regional connectivity scheme under the Ministry of Civil Aviation in
• The objective of scheme is to create affordable and economically viable and profitable flights on regional routes so that flying becomes affordable to the common man even in small towns.
• The scheme envisages providing connectivity to un-served and underserved airports of the country through the revival of existing air-strips and airports.
• Under-served airports are those which do not have more than one flight a day, while unserved airports are those where there are no operations.
• The scheme is operational for a period of 10 years.
• UDAN 3.0 is the latest version of the scheme.

Salient features

• The regional connectivity scheme will be applicable on route length between 200 to 800 km with no lower limit set for hilly, remote, island and security sensitive regions.
• The Central government will provide concessions to the tune of 2 per cent excise on Value Added Tax (VAT) and service tax at 1/10th the rate and liberal code sharing for regional connectivity scheme airports.
• A Regional Connectivity Fund (RCF) will be created to fund the scheme via a levy on certain flights. States are expected to contribute 20 per cent to the fund.
• For balanced regional growth, allocations will be spread equitably across 5 regions – North, West, South, East and North East with a cap of 25 percent.
• Market-based reverse bidding mechanism to determine least VGF to select the airline operator with the right to match to the initial proposer.
• The government said VGF will be reduced if passenger load factor remains high and will be discontinued after 3 years when route becomes self-sustainable.

 

149.Sustainable Alternative towards Affordable Transportation (SATAT)

Why in news?

• The information about SATAT initiative was mentioned in the report given by the Union Minister of Petroleum & Natural Gas in the Lok Sabha.

More about the initiative:

• SATAT is an initiative aimed at setting up of Compressed Bio-Gas production plants and makes it available in the market for use in automotive fuels by inviting Expression of Interest from potential entrepreneurs.
• The initiative was launched in 2018 by the Union Ministry of Petroleum & Natural Gas in association with Public Sector Undertaking (PSU) Oil Marketing Companies (OMC) Indian Oil Corporation Ltd., Bharat Petroleum Corporation Ltd. and Hindustan Petroleum Corporation Ltd.
• Compressed Bio-Gas (CBG) plants are proposed to be set up mainly through independent entrepreneurs.
• CBG produced at these plants will be transported through cascades of cylinders to the fuel station networks of OMCs for marketing as a green transport fuel alternative.

Background:

• Bio-gas is produced naturally through a process of anaerobic decomposition from waste / bio-mass sources like agriculture residue, cattle dung, sugarcane press mud, municipal solid waste, sewage treatment plant waste, etc.
• After purification, it is compressed and called Compressed Bio-Gas (CBG), which has pure methane content of over 95%.
• Compressed Bio-Gas is exactly similar to the commercially available natural gas in its composition and energy potential.
• With calorific value and other properties similar to CNG, Compressed Bio-Gas can be used as an alternative, renewable automotive fuel.
• Given the abundance of biomass in the country, Compressed Bio-Gas has the potential to replace CNG in automotive, industrial and commercial uses in the coming years.

 

 

150.Modified New Pricing Scheme -III (NPS-III)

Why in news?

• Cabinet approves removal of ambiguities in the Modified NPS-III for determination of fixed costs for the urea units.

Modified New Pricing Scheme -III (NPS-III):

• A scheme for determination of fixed costs for the urea units.
• It is to facilitate smooth implementation which will result in grant of Additional Fixed Cost of Rs.350/MT to 30 urea manufacturing units.
• The implementation of the Modified NPS-III will result in gains to existing urea units to the extent of their actual increase in fixed cost with ceilings as mentioned in the proposal which will ensure that no unit is benefited unduly.
• This will facilitate the continued operations of the urea units resulting in sustained and regular supply of urea to the farmers.
• The approval will also grant the special compensation of Rs. 150/MT to urea units which are more than 30 years old and converted to gas which will incentivize these units to remain viable for sustained production.
• The measures will ensure maximum domestic production of urea and reduce will reduce import dependency.

Note: Modified NPS-III was notified on 2^nd April, 2014. 

• However, the scheme could not be implemented due to its ambiguous language.

 

151.Prime Minister’s National Relief Fund (PMNRF)

Context:

• Recently, the Vice President of India has contributed a sum equivalent to a month’s salary to the Prime Minister’s National Relief Fund (PMNRF) to strengthen the government’s efforts in combating COVID-19 outbreak in the country.

About PMNRF:

• It was established in 1948 by then Prime Minister, Pt. Jawaharlal Nehru, 1948, with public contributions to assist displaced persons from Pakistan.
• Its resources are now utilized primarily to render immediate relief to families of those killed in natural calamities like floods, cyclones and earthquakes, etc. and to the victims of the major accidents and riots.
• It also rendered, to partially defray the expenses for medical treatment like heart surgeries, kidney transplantation, cancer treatment, etc.

Highlights:

• Its Disbursements are made with the approval of the Prime Minister.
• It has not been constituted by the Parliament. It is exempt under Income Tax Act.
• It is recognized as a Trust under the Income Tax Act and the same is managed by Prime Minister or multiple delegates for national causes.
• Its chairman is Prime Minister and is assisted by Officers/ Staff on honorary basis.
• Its contributions also qualify as CSR (corporate social responsibility) spend for companies, making it more attractive in terms of tax exemptions.

About Contributions Accepted in PMNRF:

• It accepts only voluntary donations by individuals and institutions.
• Its Contributions flowing out of budgetary sources of Government or from the balance sheets of the public sector undertakings are not accepted.
• The balance of the funds invested in various forms with scheduled commercial banks and other agencies to ensure long term sustainability.

152.PM-CARES Fund

Why in the News?

• The government has set up the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) to deal with any kind of emergency or distress situation like posed by the COVID-19 Pandemic.

PM-CARES Fund Highlights:

• The Fund is a public charitable trust with the Prime Minister as its Chairman.
• Other Members of the trust include Defence Minister, Home Minister and Finance Minister.
• The Fund enables micro-donations as a result of which a large number of people will be able to contribute with the smallest of denominations.
• The Fund will strengthen disaster management capacities, encourage research on protecting citizens and  aims to provide relief to the affected.
• Contribution to PM – CARES Fund will Qualify as CSR Expenditure.
• Under the Companies Act, 2013, companies with a minimum net worth of Rs 500 crore or turnover of Rs 1,000 crore, or net profit of Rs 5 crore are required to spend at least.
• Donations to this fund will be exempted from income tax under section 80(G)

153.Domestic Manufacturing of Medical Devices

Why in News?

• Recently, the Union Cabinet has approved promotion of the Domestic Manufacturing of Medical Devices in country.

About Domestic Manufacturing of Medical Devices:

• It aims to boost the domestic manufacturing of medical devices in the country.
• It includes setting up of medical device parks in Tamil Nadu, Kerala, Telangana and Andhra Pradesh. Every park is to receive Rs 100 crores.
• The grants are to be provided to the state and the projects are to be implemented by respective State Governments.
• The Production Linked Incentive(PLI) Scheme for promoting domestic manufacturing of medical devices by a Project Management Agency(PMA) to be nominated by Department of Pharmaceuticals.
• The expenditure to be incurred for the above schemes will be for the next five years i.e. from 2020-21 to 2024-25.
• The parks will help to reduce imports and also increase standard of medical testing. Also, the scheme will help to reduce cost of production.
• India is the fourth largest market for medical devices in Asia, but the domestic medical devices industry in India is very small. India’s domestic medical devices stand at 2% of the Global Industry.

154.Facebook -Reliance Jio Deal Significance

Why in News?

• Facebook’s purchase of a nearly 10% stake in Reliance Industries’ digital business unit Jio Platforms brings one of the world’s largest Internet companies on the table with India’s largest telecom player.

More Information

• The deal pushes the Indian conglomerate ahead in its plans of de-leveraging its balance sheet while accelerating the launch of its new commerce business.
• This not only marks Facebook’s long-pending formal entry into India’s telecom sector but also catapults it to a place among the biggest foreign investors in India’s technology space.
• Reliance Industries Chairman Mukesh Ambani had said the group had prepared a roadmap for becoming a zero net-debt company within 18 months.
• The Facebook deal significantly contributes to that plan by paring about Rs 43,574 crore from its outstanding debt as of September 2019 of Rs 2.92 lakh crore.
• The other primary contributors to the debt-reduction plan will be a potential $15 billion (around Rs 1.05 lakh crore) deal with Saudi Aramco for a 20% stake in Reliance Industries’ refining and petrochemicals business and Rs 7,000 crore from a 49% sale in its fuel retail joint-venture to British firm BP.
• Experts have said the arrangement among Reliance Retail, Jio Platforms and Facebook owned WhatsApp to offer consumers the ability to access the nearest kiranas, or grocery stores.
• This can provide products and services to their homes by transacting with JioMart using WhatsApp and has come at a very opportune time. WhatsApp boasts 400 million users in India.
• Further, using WhatsApp’s base also allows Reliance Retail to promote its services to users of Jio’s rival telecom players.
• The partnership with Reliance could also help Facebook navigate the regulatory environment in India, where it has had several skirmishes with the authorities, including for its major initiatives such as WhatsApp Pay.
• The deal also marks Facebook’s entry among elite investors in India’s technology space, joining the likes of SoftBank, Amazon and Google that have together poured in billions of dollars in Indian tech start-ups and their own ventures over the years.
• Prior to Jio Platforms, Facebook had invested around $20-25 million in social commerce platform Meesho in 2019, and participated in a $110 million funding round for edu-tech company Unacademy earlier this year.

155.Nutrient Based Subsidy (NBS) rates and its fixation

Why in News?

• Union Cabinet has approved fixation of Nutrient Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilizers for the year 2020-21.

Nutrient Based Subsidy (NBS) Scheme:

• The NBS Scheme for fertilizer was initiated in the year 2010 and is being implemented by the Department of Fertilizers.
• Government is making available fertilizers, Urea and 21 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers.

What NBS Provides?

• The scheme allows the manufacturers, marketers, and importers to fix the MRP of the Phosphatic and Potash fertilizers at reasonable levels.
• The MRP will be decided considering the domestic and international prices of P&K fertilizers, inventory level in the country and the exchange rates.
• The NBS ensures that adequate quantity of P&K is made available to the farmers at a statutory Controlled Price.

Fertilizers Covered:

• Under this, a fixed amount of subsidy decided on an annual basis is provided on each grade of subsidized Phosphatic and Potassic (P&K) fertilizers, except for Urea based on the nutrient content present in them.
• It is largely for secondary nutrients like N, P, S and K and micronutrients which are very important for crop growth and development.
• In India, urea is the only controlled fertilizer and is sold at a statutory notified uniform sale price.

156.Temporary Ration Cards

Why in News?

• The Pune Zilla Parishad has recently decided to provide temporary ‘ration cards’ to more than 80,000 undocumented people in the district.  
• Its migrants trapped by the lockdown, and to those who are unable to provide documents, has been a major concern across states.

More Information

• It is a first innovation of its kind to help larger numbers of people’s access government benefits during the Covid-19 lockdown.
• It will use one-time Aadhaar authentication to open accounts for the people with the India Post Payments Bank. It would serve as the only authentication that will be needed for these undocumented people to draw rations from the PDS system.
• It will enable the Home Delivery of grains at the gram panchayat level to avoid crowds and maintain physical distancing.
• It will include individuals belonging to the Primitive Tribes and the Transgender community who are often left out of the ambit of such benefits.
• The Identification of the beneficiaries has been given to the village police patil, who maintains records of outsiders in a register.
• According to the National Food Security Act (NFSA), 2013, the gram sabha has the right to identify beneficiaries — however, in the current situation when the gram sabha is not functional, a committee of three viz., the gram panchayat’s sarpanch, a member of the gram sabha, and the local police patil will identify them.
• Its only verification that will be carried out is that of the kitchen of the beneficiary to prove that they qualify for the scheme.
• It will widen and deepen the scope and reach of the Sharad Bhojan Yojana, under which cooked meals are provided to people in Pune district at concessional rates. It is modelled after the Maharashtra government’s flagship Shiv Bhojan Yojana, which serves subsidised meals to the poor.
• The Janakidevi Bajaj Gram Vikas Sansthan, the Corporate Social Responsibility (CSR) wing of the Bajaj Group, will be the corporate CSR partner of the Pune Zilla Parishad for the scheme.

About Public Distribution System (PDS):

• It is an Indian Food Security System established under the Ministry of Consumer Affairs, Food and Public Distribution.
• It evolved as a system of management of scarcity through distribution of food grains at affordable prices.
• It is operated under the joint responsibility of the Central and the State Governments. The Central Government, through Food Corporation of India (FCI), has assumed the responsibility for procurement, storage, transportation and bulk allocation of food grains to the State Governments.
• At present, the commodities namely wheat, rice, sugar and kerosene are being allocated to the States/UTs for distribution. Some States/UTs also distribute additional items of mass consumption through the PDS outlets such as pulses, edible oils, iodized salt, spices, etc.
• National Food Security Act (NFSA), 2013: It legally entitles up to 75% of the rural population and 50% of the urban population to receive subsidized food grains under the Targeted Public Distribution System.

 

157.Special Drawing Rights of IMF

Why in News?

• Recently, India has opposed the new general allocation of SDR to the member countries by IMF.

Key Points:

• The new SDR allocation of IMF will provide all 189 members with new foreign exchange reserves with no conditions.
• The Finance Minister of India opposed this general allocation of new Special Drawing Rights (SDR) by the International Monetary Fund (IMF) because it might not be effective in easing Covid-19 driven financial pressures.
• The Finance Minister was concerned that such a major liquidity injection could produce potentially costly side-effects if countries used the funds for irrelevant purposes.

What is SDR?

• The SDR basket of currencies includes the U.S. dollar, Euro, Japanese yen, pound sterling and the Chinese renminbi (included in 2016).
• The SDR is neither a currency nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. SDRs can be exchanged for the above currencies.
• The SDR serves as the unit of account of the IMF and some other international organizations. The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a SDR basket of currencies.
• Quota (the amount contributed to the IMF) of a country is denominated (expressed) in SDRs.
• Members’ voting power is related directly to their Quotas.

 

158.TRIFED

Why in News?

• TRIFED in collaboration with UNICEF & WHO launched digital campaign through webinar for SHGs to ensure that Tribal Gatherers carry on their work safely.

Highlights:

• TRIFED launched through a Webinar, Virtual training to its Trainers and Self Help Groups (SHGs) on basic orientation on Covid-19 response and key preventive measures to ensure tribal gatherers carry on their work safely.
• It is aimed to reach more than 18,000 participants and would cover tribal regions across all the 27 States.
• To ensure tribal gatherers carry on their work safely, TRIFED has collaborated with UNICEF and WHO for developing a digital communication strategy for promoting a digital campaign for Self Help Groups (SHGs) involved in this work, highlighting the importance of Social Distancing.
• UNICEF is providing the necessary support to the SHG Centres in the form of Digital Multimedia content, Webinars for Virtual trainings, Social Media campaigns (on social distancing, home quarantine, etc.) and Vanya Radio.
• Additionally, TRIFED has reached out to the Art of Living Foundation’s #iStandWithHumanity Initiative with a Stand with Tribal Families component in providing the much-needed food and ration for survival of the tribal community.

 

159.Essential Commodities Act 1955

Why in News?

• Recently, Union Home Secretary wrote to all chief secretary to ensure the availability of essential goods by invoking Essential Commodities Act 1955.

About Essential Commodities Act 1955:

• It is used by the Government to regulate the production, supply and distribution of a whole host of commodities it declares ‘essential’ in order to make them available to consumers at fair prices.
• It includes list of items such as drugs, fertilisers, pulses and edible oils, and petroleum and petroleum products.
• The Centre can include new commodities as and when the need arises, and take them off the list once the situation improves.
• Under the Act, the government can also fix the maximum retail price (MRP) of any packaged product that it declares an “essential commodity”.

How does the Law Works?

• If the Centre finds that a certain commodity is in short supply and its price is spiking, it can notify stock-holding limits on it for a specified period.
• The States act on this notification to specify limits and take steps to ensure that these are adhered to.
• Anybody trading or dealing in a commodity, be it wholesalers, retailers or even importers are prevented from stockpiling it beyond a certain quantity.
• A State can, however, choose not to impose any restrictions. But once it does, traders have to immediately sell into the market any stocks held beyond the mandated quantity. This improves supplies and Brings Down Prices.
• State agencies can conduct raids to get everyone to toe the line and the errant are punished. The excess stocks are auctioned or sold through fair price shops.

 

160.Mahua flowers

Why in News?

• Trading in mahua flowers (Madhuca longifolia) in summers is one of the major sources of livelihood of tribal people in Odisha. However, the lockdown has hurt the trade and disrupted Tribal Economy.

Mahua Flowers:

• Mahua (Madhuca longifolia) is a multipurpose tropical tree mainly cultivated or harvested in the wild in Southern Asia for its edible flowers and oil seeds.
• Mahua is indigenous to India, Sri Lanka, Nepal and Myanmar.
• It is a frost resistant species that can grow in marginal areas of dry tropical and subtropical forests up to an altitude of 1200-1800 m.
• The leaves of Mahua are fed on by the moth Antheraea paphia, which produces tassar silk, a form of wild silk of commercial importance in India.
• They are also fermented to produce the alcoholic drink mahua, a country liquor.

 

161.Telecom Disputes Settlement and Appellate Tribunal (TDSAT)

Why in News?

• Recently, the Supreme Court extended by three months the tenure of chairperson of Telecom Disputes Settlement and Appellate Tribunal, TDSAT which is scheduled to end on 20^thof this month.

About TDSAT

• In order to bring in functional clarity and strengthen the regulatory framework and the disputes settlement mechanism in the telecommunication sector, the TRAI Act of 1997 was amended in the year 2000.
• It was set up to adjudicate disputes and dispose of appeals with a view to protect the interests of service providers and consumers of the telecom sector.

About Composition of TDSAT

• Mandate: To adjudicate disputes and dispose of appeals with a view to protect the interests of service providers and consumers of the telecom sector.
• Created under: The Telecom Regulatory Authority of India Act, 1997.
• The headquarter is in New Delhi.
• It was established in 2000. 
• The TDSAT consists of a Chairperson and two Members

 

162.Unemployment rate in India sees Significant Increase

Why in News?

• The Centre for Monitoring Indian Economy (CMIE) has said that the unemployment rate shot up in March. The employment rate in the economy fell to an all-time low of 38.2 percent in March 2020.
• With the coronavirus outbreak severely affecting every country, its impact on an already hobbling Indian economy is set to be devastating if the latest data on unemployment rate is taken as an indicator.

More Information

• The Labour Participation Rate (LPR) in March 2019 was 42.7 percent. This is the first time the LPR has fallen below 42 percent.
• The monthly figures from the CMIE that were released recently also show a curious inversion.
• In urban India, unemployment among the uneducated is at a higher level than those with a graduate degree (13%), for the first time since early-2016. Most of the people are employed in service sector jobs in construction, repair, or unorganized transport, all of which have come to a standstill due to the current lockdown.
• Early estimates from CMIE’s weekly tracker indicate that at least 50 million Indians may have lost their jobs in the last two weeks.
• The real impact of wage cuts and job losses won’t be felt immediately on account of the temporary relief measures announced by the government and the RBI.
• The government has unveiled a Rs 1.75 lakh crore welfare package for poor while the RBI announced a series of measures to ease liquidity in the system (to the tune of Rs 3.74 lakh crore).

 

163.Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)

Why in News?

• Recently, A PIL has been filed in the Supreme Court demanding full wages for over 7.6 crore active job card holders under the MGNREGA during the 21-day nationwide lockdown due to Covid-19 pandemic outbreak.

About MGNREGA

• It is the largest work guarantee programme in the world.
• It was enacted in 2005 with the primary objective of guaranteeing 100 days of wage employment per year to rural households.
• It aims at addressing causes of chronic poverty through the ‘works’ (projects) that are undertaken, and thus ensuring sustainable development.
• Its Funding is shared between the centre and the states.
• There are three major items of expenditure – wages (for unskilled, semi-skilled and skilled labour), material and administrative costs.
• The central government bears 100% of the cost of unskilled labour, 75% of the cost of semiskilled and skilled labour, 75% of the cost of materials and 6% of the administrative costs.

 

164.Price Monitoring & Resource Unit (PMRU)

Why in News?

• Jammu & Kashmir Union Territory has become 12th State/UT where the Price Monitoring & Resource Unit (PMRU) has been set up by the National Pharmaceutical Pricing Authority (NPPA).
• PMRUs have already been set up by the NPPA in 11 States, including Kerala, Odisha, Gujarat, Rajasthan, Punjab, Haryana, Nagaland, Tripura, Uttar Pradesh, Andhra Pradesh and Mizoram.

PMRU:

• The PMRU, a registered society, shall function under the direct control and supervision of the State Drug Controller of Jammu & Kashmir.
• The unit shall be funded by the NPPA for its recurring and non-recurring expenses.
• The PMRU shall help the NPPA and the State Drug Controller in ensuring the availability and accessibility of medicines at affordable prices.
• It is also expected to organise seminars, training programs and other information, education and communication (IEC) activities in the areas of availability and affordability of medicines for all.
• The PMRU will also collect samples of medicines, collect and analyse data and make reports with respect to availability and over-pricing of medicines for taking action under the provisions of the Drug Price Control Order (DPCO).
• PMRU Mandate: To track violation of prices of essential drugs and medical devices under the Drugs Price Control Order (DPCO).

• PMRU Functions: Offering technical help to the State Drug Controllers and the NPPA to
  • Monitor notified prices of medicines,
  • Detect violation of the provisions of the DPCO,
  • Look at price compliance, collect test samples of medicines, and Collect and compile market-based data of scheduled as well as non-scheduled formulations.
  • The PMRU is chaired by the State Health Secretary. The Member-Secretary would be Drugs Controller.

 

165.India’s Foreign Trade

Why in News?

• India’s overall exports (Merchandise and Services combined) in April-March 2019-20 are estimated to be USD 528.45 billion.

Details:

• This shows a negative growth of (-) 1.36 per cent over the same period last year.
• Overall imports in April-March 2019-20 are estimated to be USD 598.61billion, exhibiting a negative growth of (-) 6.33per cent over the same period last year.

• Major commodity groups of import showing negative growth in March 2020 over the corresponding month of last year are:
• Rise in import in March 2020 was witnessed only in Transport equipment, which registered a growth of 11.94% over March 2019.

Trade Balance

• • MERCHANDISE: The trade deficit for March 2020 was estimated at USD 9.76 billion as against the deficit of USD 11.00 billion in March 2019.

• • SERVICES: As per RBI’s Press Release dated 15^th April 2020, the trade balance in Services (i.e. Net Services export) for February 2020 is estimated at USD 6.66 billion.
  • OVERALL TRADE BALANCE: Taking merchandise and services together, overall trade deficit for April-March 2019-20 is estimated at USD 70.16 billion as compared to USD 103.32 billion in April-March 2018-19.

 

166.Greenfield and Brownfield projects

Why in news?

• Finance ministry constitutes a task force for drawing up National Infrastructure Pipeline of Rs 100 Lakh Crore from FY 2019-20 to FY 2024-25

Background

• Hon’ble Prime Minister in his Independence Day speech highlighted that Rs.100 lakh crore would be invested on infrastructure over the next five years.
• To achieve this task, a Task Force under the chairmanship of Secretary (DEA) has been constituted by Union Finance Minister to draw up a National Infrastructure Pipeline for each of the years from FY 2019-20 to FY 2024-25 as below:

More about: 

• The National Infrastructure Pipeline would include greenfield and brownfield projects costing above Rs 100 crore each.  The Task Force will also enable robust marketing of the pipeline of projects requiring private investment through the India Investment Grid (IIG), National Investment & Infrastructure Fund (NIIF), etc.

Greenfield and Brownfield projects

• Greenfield and brownfield investments are two types of foreign direct investment.
• With greenfield investing, a company will build its own, brand new facilities from the ground up.
• Brownfield investment happens when a company purchases or leases an existing facility.
• In a greenfield investment, parent company opens a subsidiary in another country. Instead of buying an existing facility in that country, the company begins a new venture by constructing new facilities in that country. 
• Brownfield investments, an entity purchases or leases an existing facility to begin new production.
• Companies may consider this approach a great time and money saver since there is no need to go through the motions of building a brand new building.

India Investment Grid

• India Investment Grid (IIG) is an initiative of Department for Promotion of Industry & Internal Trade (DPIIT) Ministry of Commerce, Government of India and Invest India, the National Investment Promotion and Facilitation Agency.
• The India Investment Grid (IIG) is a home for investment opportunities across India which works on a single interactive platform.
• This was formed as an initiative to enhance the business platform in India. 

Invest India

• Invest India is the National Investment Promotion and Facilitation Agency of India and acts as the first point of reference for investors in India.
• It is set up as a nonprofit venture under the Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce and Industries, Government of India.
• Operationalized in early 2010, Invest India is set up as a joint venture company between the Department for Promotion of Industry & Internal Trade (DPIIT) (35% equity), Federation of Indian Chambers of Commerce and Industry (FICCI) (51% equity), and State Governments of India (5% each).

 

167.CORPORATE SOCIAL RESPONSIBILITY (CSR)

Why in news?

• High Level Committee on CSR recommends CSR expenditure to be made tax deductible expenditure.

 Corporate social responsibility (CSR):

• Corporate social responsibility (CSR) is also known as corporate conscience, corporate citizenship or responsible business refers to a corporation owning the responsibility for environmental and social wellbeing.
• Government of India becomes the first to mandate CSR under Section 135 of the Companies Act, 2013.
• Under this legislation, every company with net worth of Rs 500 Crore or a turnover of Rs 1000 Cr or net profits of Rs 5 Crore is required to invest at least 2% of its net profit on CSR activities and also to constitute a CSR Committee consisting of at least 3 directors including an independent director. This committee will formulate the CSR policies for the company.
• Activities that can be undertaken under CSR as listed in the Companies Act,2013
• Eradicating hunger, poverty and malnutrition.
• Promoting education and enhancing vocational skills.
• Promoting gender equality.
• Ensuring environmental sustainability, contributing to Clean Ganga Fund.
• Protection of national heritage, art and culture.
• Measures for the benefit of armed forces veterans, war widows and their dependents.
• Promoting rural sports, Paralympic and Olympic sports.
• Contributing to technology incubators.
• Slum area development, rural area development.
• Contribution to PM s National Relief Fund.

168.GLOBAL GDP RANKINGS

Why in news?

• India has slipped down to the 7th place in the World Bank’s global GDP rankings of 2018.

 World Bank’s global GDP rankings of 2018:

• India has slipped down to the 7th place in the World Bank’s global GDP rankings of 2018with the UK and France forging ahead to the fifth and sixth.
• In 2017, India had emerged as the sixth largest economy, while France was pushed to the seventh place in the global GDP league table.
• The US remains the top economy with a GDP of $20.5 trillion in 2018. China was the second largest economy while Japan took the third place.
• India’s GDP was at $2.7 trillion in 2018, while UK and France were at $2.8trillion.

Fiscal Deficit:

• The fiscal deficit is the excess of total budget expenditure over total budget receipts excluding borrowings during a fiscal year.
• Fiscal deficit is defined as all expenditure minus total receipts except borrowings. Actually, fiscal deficit represents the total borrowing requirements of the central government.
• Most importantly, fiscal deficit indicate the financial health of the budget and that of the government.
• Total expenditure = Total receipts (tax, non-tax, disinvestment, borrowings etc)
• Fiscal deficit = Total Expenditure – Total Receipts except borrowings

169.THE RESILIENT KERALA PROGRAM

Why in news?

• The Government of India, the Government of Kerala and the World Bank signed a Loan Agreement of USD 250 million for the First Resilient Kerala Program.

 About the program

• It is a program to enhance the State’s resilience against the impacts of natural disasters and climate change.
• The Resilient Kerala Program will focus on strengthening the State’s institutional and financial capacity to protect the assets and livelihoods of poor and vulnerable groups through an inclusive and participatory approach.
• The 2018 floods and landslides in Kerala led to severe impact on property, infrastructure, and lives and livelihoods of people.
• The Program represents the First ‘State Partnership’ of the World Bank in India.
• It is the First of two Development Policy Operations aiming to mainstream disaster and climate resilience into critical infrastructure and services.
• The new program is part of the Government of India’s support to Kerala’s ‘Rebuild Kerala Development Programme’ aimed at building a green and resilient Kerala.

170.FASTAGS

Why in news?

• Government endeavours to increase penetration of FASTag substantially and moving towards 100% cashless.

 About FASTags

• FASTags are cards launched by National Highways Authority of India (NHAI) to allow cashless payment of toll fee and facilitate near non-stop movement of vehicles through toll plazas.
• It employs Radio-frequency identification (RFID) technology for making toll payments directly from the prepaid account linked to it.
• The tag which will be affixed on windshield of the vehicle will be read by readers fitted in dedicated Electronic Toll Collection (ETC) lanes of toll plazas after vehicles passes through toll plazas.
• Customer will receive SMS alerts on his registered mobile numbers for all the transactions done in his tag account.
• FASTag has a validity of 5 years and after purchasing it, one only need to recharge/ top up the FASTag as per requirement.

171.NATIONAL BIOFUEL POLICY

Why in news?

• Petroleum Minister said that the National Policy on Biofuels, 2018 approved by the Government targets to get 20 per cent blending of ethanol in petrol and 5 pc blending of bio-diesel in diesel by 2030.

 About National Biofuel Policy

• The Policy expands the scope of raw material for ethanol production by allowing use of sugarcane juice, sugar containing materials like sugar beet, sweet sorghum, starch containing materials like corn, cassava, damaged food grains like wheat and broken rice, and rotten potatoes.
• Presently, only ethanol produced from sugarcane was allowed to be mixed in petrol.
• It can reduce the imports by ₹4,000 crore this year alone.
• It also allows use of surplus food grains for production of ethanol for blending with petrol with the approval of National Biofuel Coordination Committee.
• The new policy categorises biofuels as
• First Generation (1G), which produce bio-ethanol from molasses and bio-diesel from non-edible oilseeds.
• Second Generation (2G) ethanol can be produced from municipal solid waste.
• Third Generation (3G) fuels like bio-CNG.
• A viability gap funding scheme for 2G ethanol bio refineries of ₹5,000 crore in 6 years in addition to additional tax incentives, higher purchase price as compared to 1G biofuels.
• The policy also encourages setting up of supply chain mechanisms for biodiesel production from nonedible oilseeds, used cooking oil and short gestation crops.
• The conversion of surplus grains and agricultural biomass can help in price stabilization for farmers.

 About Ethanol Blended Petrol Programme

• Government of India launched Ethanol Blended Petrol (EBP) programme in 2003 for undertaking blending of ethanol in Petrol to address environmental concerns due to fossil fuel burning, provide remuneration to farmers, subsidize crude imports and achieve forex savings.
• Under EBP programme, OMCs are to blend upto 10% of ethanol in Petrol.
• The present policy allows procurement of ethanol produced from molasses and non-food feed stock like celluloses and lignocelluloses material including petrochemical route.
• The Government has fixed the price of ethanol.

What is ethanol blending?

• Ethanol blending is the practice of blending (mixing) petrol with ethanol.
• The renewable ethanol content, which is a by-product of the sugar industry, is expected to result in a net reduction in the emission of carbon dioxide, carbon monoxide (CO) and hydrocarbons (HC).
• Ethanol itself burns cleaner and burns more completely than petrol it is blended into.
• It will also reduce the import burden on account of crude petroleum from which petrol is produced.

172.BIOFUEL DAY AND RUCO INITIATIVE

Why in news?

• World Biofuel Day to be observed on 10th August 2019

 More about the news:

• World Biofuel Day is observed every year on 10th of August to create awareness about the importance of non-fossil fuels as an alternative to conventional fossil fuels and highlight the various efforts made by Government in the biofuel sector.
• This year, the theme of the World Biofuel Day is “Production of Biodiesel from Used Cooking Oil (UCO)”.

 Benefits of biofuel:

• Biofuels have the benefits of reduction of import dependence, cleaner environment, additional income to farmers and employment generation.
• The National Policy on Biofuels, released by the Government of India in 2018, envisages production of biofuel from Used Cooking Oil (UCO).
• The National Policy on Biofuels – 2018 envisages a target of 5% blending of Biodiesel in HSD by 2030. In order to achieve the blending target, 500 crore litres of Biodiesel is required in a year.

 RUCO Initiative:

• The Food Safety and Standards Authority of India (FSSAI) had launched RUCO (Repurpose Used Cooking Oil), an initiative that will enable collection and conversion of used cooking oil to bio-diesel.
• FSSAI believes India has the potential to recover 220 crore litres of used cooking oil for the production of biodiesel by 2022 through a co-ordinated action.
• According to FSSAI regulations, the maximum permissible limits for Total Polar Compounds (TPC) have been set at 25%, beyond which the cooking oil is unsafe for consumption
• In many countries, TPC is used to measure the quality of oil. The level of TPC increases every time oil is re-heated.

173.CENTRAL EQUIPMENT IDENTITY REGISTER (CEIR)

Why in news?

• The Telecom Ministry is ready to roll out a Central Equipment Identity Register (CEIR) to curtail the rampant cloning and theft of mobile phones across the country.

 About the news

• Once implemented, consumers whose mobile phones are lost or stolen can inform the Department of Telecom (DoT) via a helpline number after filing a report with police.
• The DoT can then blacklist the IMEI (International Mobile Equipment Identity) number, effectively blocking the mobile device from accessing any cellular network in the future.

About CEIR

• Central Equipment Identity Register (CEIR) is a database of International Mobile Equipment Identity (IMEI) numbers.
• In line with global practices, DoT’s identity register will be a database of IMEI numbers that will consist of three lists
• White
• Grey
• Black
• Mobile phones with IMEI numbers in the white list will be permitted for use.
• Mobile phones in the blacklist will be the ones that are reported stolen or lost and will not be allowed to access the network.
• Devices with IMEI numbers in the greylist will be the ones that do not conform to standards but will be permitted to connect under supervision.
• The concept of a central identity register is advocated by the GSM Association (GSMA), a body representing mobile operators, equipment manufacturers, software and internet companies, among other stakeholders in the telecom ecosystem.
• The CEIR will also have access to GSMA’s global IMEI database, allowing comparison of IMEI numbers to identify counterfeit devices.

Objectives of India’s CEIR

• Curtailment of counterfeit mobiles
• Blocking of lost or stolen mobiles across networks thus discouraging theft of mobile phones
• Maintaining a registry of all equipment identity to facilitate database of valid devices
• Facilitate IMEI-based lawful interception

What is International Mobile Equipment Identity (IMEI)?

• It is a 15-digit number that uniquely identify each mobile device.
• It is usually found printed inside the battery compartment of the phone, but can also be displayed onscreen on most phones by entering *#06# on the dialpad.
• GSM networks use the IMEI number to identify valid devices, and can stop a stolen phone from accessing the network.
• The IMEI only identifies the device and has no particular relationship to the subscriber.

The phone identifies the subscriber by transmitting the International mobile subscriber identity (IMSI) number, which it stores on a SIM card that can, in theory, be transferred to any handset.

174.DIGITAL COMMUNICATIONS COMMISSION

Why in news?

• The Digital Communications Commission (DCC) has approved levying of penalty on Bharti Airtel Ltd. and Vodafone Idea Ltd. for denial of interconnection to Reliance Jio Infocomm Ltd. when the latter had entered market in 2016.

 About the commission

• It is the erstwhile Telecom Commission.
• It is the highest decision-making body of Department of Telecom (DoT) under Ministry of Communications and Information Technology.
• The Telecom Commission was set up by the Government of India on 11th April, 1989 with administrative and financial powers of the Government of India to deal with various aspects of Telecommunications.
• The Government, on 22nd October, 2018 has re-designated the ‘Telecom Commission’ as the ‘Digital Communications Commission’ through the National Digital Communications Policy 2018.

 Members

• The Digital Communications Commission consists of
• The Secretary to the Government of India in the Department of Telecommunications is the exofficio Chairman of the Digital Communications Commission.
• The full-time members of panel include DoT’s Additional Secretary, Member (finance), Member (services) and Member (technology).
• The part-time members of body are NITI Aayog’s Chief Executive Officer (CEO), Department of Economic Affairs (DEA) secretary and Ministry of Electronics and IT secretary and Secretary (Department of Industrial Policy & Promotion).

175.FOREIGN CONTRIBUTION (REGULATION) ACT, 2010

Why in News?

• MHA warns FCRA-registered NGOs of penal action for changing office bearers without permission.

 About the news

• All NGOs and associations registered under the Foreign Contribution Regulation Act (FCRA), 2010, which makes them eligible to receive foreign funds and donations, have to submit online application for addition, deletion and change of details about office-bearers and key functionaries within one month.

 About the FCRA Act

• It regulates the foreign contribution (money donation) and foreign hospitality (e.g. free airplane tickets and hotel lodging during videsh-yaatra) given to various NGOs, institutes, judges, journalists, public servants etc.
• The purpose is to check that foreigners are not affecting India’s electoral politics, public servants, judges, journalists, NGOs etc. for wrong purposes
• If someone violates the FCRA act, he can be sent to jail for up to 5 years.
• Organizations working for definite cultural, social, economic, educational or religious programs are eligible for foreign contribution subject to:
• Permission from the Ministry of Home Affairs.
• Maintenance of a separate account book listing the donation received from foreigners and gets it audited by a Chartered Accountant and submits it to Home Ministry every year.

The following cannot accept Foreign Contributions:

• Election candidate
• MPs/MLAs
• Newspaper-walla: Correspondent, columnist, cartoonist, editor, owner, printer or publishers of a registered Newspaper.
• Public Servants: Judge, government servant or employee of any Corporation or any other body controlled on owned by the Government

Evolution of FCRA

• Originally, the Foreign Contribution (Regulation) Act was enacted in 1976 by the Indira Gandhi led government during the Emergency.
• It prohibited electoral candidates, political parties, judges, MPs and even cartoonists from accepting foreign contributions, thus, the intent seems to be the curbing of political dissent.
• A new act called the Foreign Contribution (regulation) Act, 2010 came about to correct shortfalls in the predecessor act of 1976

Difference between FCRA, 1976 and FCRA, 2010

License for 5 years:

• FCRA registration under the earlier law was permanent, but under the new one, it expired after five years, and had to be renewed afresh. Through this measure state can teach a lesson to any NGO which acts against its interests.

Directing the usage of administrative expenses:

• The new law put a restriction (50 per cent) on the proportion of foreign funds that could be used for administrative expenses, thereby allowing the government to control how a civil society organisation (CSO) spends its money.

Organisations of political nature:

• While the 1976 law was primarily aimed at political parties, the new law set the stage for shifting the focus to organisations of a political nature.
• The FCRA, 2011 rules clearly enumerates the organisations of political nature making it easier for successive governments to target inconvenient NGOs.
• This list contains trade unions, students’ unions, workers’ unions, youth forums, women’s wing of a political party, farmers’ organisations, youth organisations based on caste, community, religion, language etc.

176.Consumer Protection Bill, 2019

Context

• The Parliament gave its nod to the landmark Consumer Protection Bill, 2019
• The bill seeks to strengthen the rights of consumers and provides a mechanism for redressal of complaints regarding defects in goods and deficiency in services.

Features

• A consumer is defined as a person who buys any good or avails a service for a consideration.
• It does not include a person who obtains a good for resale or a good or service for commercial purpose.
• It covers transactions through all modes including offline, and online through electronic means, teleshopping, multi-level marketing or direct selling.
• It aims to protect the rights of consumers by establishing authorities for timely and effective administration and settlement of consumers’ dispute.
• The Bill will replace the more than three decades old Consumer Protection Act, 1986.
• The Bill also envisages simplified dispute resolution process, has provision for Mediation and e-filing of cases.
• The Bill also enables regulations to be notified on E-commerce and direct selling with focus on protection of interest of consumers.

Central Consumer Protection Authority (CCPA)

• Under the Bill, there is provision for central government to set up a CCPA to promote, protect and enforce the rights of consumers and will be empowered to investigate, recall, refund and impose penalties.
• It will regulate matters related to violation of consumer rights, unfair trade practices, and misleading advertisements.

Product liability:

• Product liability means the liability of a product manufacturer, service provider or seller to compensate a consumer for any harm or injury caused by a defective good or deficient service.
• To claim compensation, a consumer has to prove any one of the conditions for defect or deficiency, as given in the Bill.

Consumer Disputes Redressal Commissions (CDRCs)

• It will be set up at the district, state, and national levels. A consumer can file a complaint with CDRCs in relation to:
• unfair or restrictive trade practices;
• defective goods or services;
• overcharging or deceptive charging; and
• The offering of goods or services for sale which may be hazardous to life and safety.
• Complaints against an unfair contract can be filed with only the State and National Appeals from a District CDRC will be heard by the State CDRC.  Appeals from the State CDRC will be heard by the National CDRC.  Final appeal will lie before the Supreme Court.
• Jurisdiction of CDRCs: The District CDRC will entertain complaints where value of goods and services does not exceed Rs one crore.
• The State CDRC will entertain complaints when the value is more than Rs one crore but does not exceed Rs 10 crore. 
• Complaints with value of goods and services over Rs 10 crore will be entertained by the National CDRC.

Penalties for misleading advertisement:

• The CCPA may impose a penalty on a manufacturer or an endorser of up to Rs 10 lakh and imprisonment for up to two years for a false or misleading advertisement.
• In case of a subsequent offence, the fine may extend to Rs 50 lakh and imprisonment of up to five years.
• CCPA can also prohibit the endorser of a misleading advertisement from endorsing that particular product or service for a period of up to one year.
• For every subsequent offence, the period of prohibition may extend to three years. However, there are certain exceptions when an endorser will not be held liable for such a penalty.

177.The National Mineral Policy 2019

Why in news?

• In a step towards ensuring raw material security and seamless renewal of mining leases allocated to the Government companies, Ministry of Mines has amended the Minerals (Mining) by Government company’s rules 2015.

More about:

• As per the amendment, the mining entity must give application for renewal to the government at least twelve months prior to the expiry of the mining lease, shall extend the period of the lease for further period of up to twenty years at a time.
• Recent orders passed by the Ministry of Mines are important steps towards ensuring raw material security for Indian steel industry and price stabilization of raw materials.

The National Mineral Policy 2019:

• National Mineral Policy 2019 replaces the extant National Mineral Policy 2008 (“NMP 2008”) which was announced in year 2008.
• It encourages the private sector to take up exploration, on a revenue sharing model.
• Provision of merger and acquisition of the mining entities and transfer of mining leases and creation of dedicated mineral corridors.
• Provisions for e-governance, IT-enabled systems,awareness and information campaigns have been incorporated for regulations.
• It also mentions that Long term import export policy for mineral will help private sector in better planning and stability in business.
• The Policy mentions to make efforts to harmonize taxes, levies & royalty with world benchmarks to help private sector.

Mines and Minerals (Development & Regulation) Act, 1957:

• The Mines and Minerals (Regulation and Development) Act (1957)is an Act of the Parliament of India enacted to regulate the mining sector in India.
• It was amended in 2015 and 2016. This act forms the basic framework of mining regulation in India.
• It details the process and conditions for acquiring a mining or prospecting licence in India.
• This act is applicable to all mineral except coal, minor minerals and atomic minerals.

 

178.FOREIGN EXCHANGE RESERVES

Why in news?

• RBI Deputy Governor Kanungo Says that India’s forex reserves are borrowed and not built out of export surplus Speaking at the Forex Association of India Conference in Singapore.

Foreign exchange reserves:

• Foreign exchange reserves (FX reserves) are assets that are held by a nation’s central bank.
• It is generally held in reserve currencies usually the US Dollar, Euro, Japanese Yen and Pound Sterling.
• It is used to back its liabilities – like the native currency issued and also reserves deposited by financial institutions or the government with the central bank.  It also contains gold reserves, IMF reserve positions and SDRs or special drawing rights.

Forex Reserves in India:

• As of May 2019, India has USD 418.515 billion forex reserves.  India ranks eighth in the world in forex reserves. 
• China has the largest foreign exchange reserves

Purpose of keeping foreign exchange reserves:

• To keep the value of their currencies at a fixed rate.
• To maintain liquidity in case of an economic crisis.
• The central bank supplies foreign currency to keep markets steady.
• To ensure that a country meets its foreign obligations and liabilities.

 

179.SMART INDIA HACKATHON 2019

Why in news?

• HRD Minister inaugurates five-day Grand Finale of Smart India Hackathon, 2019 (Hardware Edition).

 About Smart India Hackathon, 2019

• It is a unique initiative to identify new and disruptive digital technology innovations for solving the challenges faced by our country.
• It is organized by All India Council for Technical Education (AICTE) under the aegis of Ministry of Human Resource Development (MHRD).
• Inter Institutional Inclusive Innovation Center (i4C) and Persistent Systems is also part of organizing Smart India Hackathon.
• Through this initiative, govt. departments will directly engage with thousands of technical students and challenge them to build digital solutions to improve their efficiency, plug revenue leakages and corruption.  The ministry of health and family welfare is looking for a solution in the telemedicine system that can work on low bandwidth.

 More about SIH

• It harnesses creativity and expertise of students, builds funnel for ‘Startup India’ campaign, crowd sources solutions for improving governance and quality of life, and provides opportunity to citizens including students to provide innovative solutions to India’s problems.
• It was launched in 2018 in New Delhi.
• It includes 2 sub-editions
• Software edition, which is a 36-hr software product development competition
• Hardware edition, involving building of hardware solutions

180.PERIODIC LABOUR FORCE SURVEY (PLFS)

Why in news?

• The share of unemployed in different age groups, as per the recently released Periodic Labour Force Survey (PLFS) for 2017-18, shows that the higher unemployment has shifted to the 20-24 and 25-29 age groups as against the 15-19 age group earlier.

 What is PLFS?

• It is a nationwide Labour Force Survey launched by the National Sample Survey Office (NSSO).
• Primary aim of the PLFS is to generate reasonably accurate indicators of labour market at a short span for every quarter for which speed of quality data collection and processing are important.
• The PLFS provides quarterly employment and unemployment data.
• It was launched from 1st April 2017.
• Results of the PLFS will be brought out in the form of Annual Key Report.

Objectives

• Quarterly changes of various indicators of the labour market in urban areas as well as to generate the annual estimates of different labour force indicators both in rural and urban areas are the supplementary objectives of the PLFS.
• Annual estimates (for both rural and urban areas) would be generated for major parameters like
• Labour Force Participation Rate (LFPR)
• Worker Population Ratio (WPR)
• Unemployment Rate (UR)
• Distribution of workers by industry, occupation, workers employed in informal sector
• Conditions of employment of the workers.
• Quarterly Bulletins

The Quarterly estimates (for urban areas only) would be generated for the key labour force parameters like

• LFPR
• WPR
• UR in Current Weekly Status (CWS)

 About National Sample Survey Office (NSSO)

• NSSO is one of the national organization which is responsible for conduct of large scale sample surveys in diverse fields on All India basis.
• It comes under Ministry of Statistics and Programme Implementation.

181.NATIONAL STATISTICAL OFFICE (NSO)

Why in news?

• The government has now stated that the National Statistical Office (NSO) will be headed by Chief Statistician of India-cum-Secretary (Statistics and Programme Implementation).

 About the news

• The previous NDA government has decided to merge the National Sample Survey Office (NSSO) with the Central Statistics Office (CSO).
• The May 23 order, which had cleared the merger of National Sample Survey Office (NSSO) and Central Statistics Office (CSO), had only mentioned Secretary (Statistics and Programme Implementation) as the head of NSO and not mentioned Chief Statistician of India.

 About National Statistical Office

• It is a body to be formed through the merger of National Sample Survey Office (NSSO) with the Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation (MoSPI).
• The proposed NSO would be headed by Secretary (Statistics and Programme Implementation).
• It now equates the Secretary (Statistics and Programme Implementation) with the Chief Statistician of India as was done in the earlier resolution notified by MoSPI on June 1, 2005.
• The 2005 notification is in line with recommendations of the Rangarajan commission

182.BHARAT STAGE

Why in news?

• International Centre for Automotive Technology (ICAT) released India’s first Type Approval Certificate (TAC) for Bharat Stage – VI (BS – VI) norms for the two wheeler segment in New Delhi.

 About the news

• BS – VI norms are applicable to all two wheelers, three wheelers, four wheelers and construction equipment vehicles.

 About Bharat Stage emission standards

• Bharat Stage emission standards are emission standards that have been set up by the Central government to regulate the output of air pollutants from internal combustion engine and Spark-ignition engines equipment, including motor vehicles.
• With appropriate fuel and technology, they limit the release of air pollutants such as nitrogen oxides, carbon monoxide, hydrocarbons, particulate matter (PM) and sulphur oxides from vehicles using internal combustion engines.  It was introduced in 2000.
• India has been following European (Euro) emission norms, although with a time lag of five years.
• The BS IV norms had been enforced across the country since April 2017.
• In 2016, the Centre had announced that the country would skip the BS-V norms altogether and adopt BS-VI norms by 2020.
• Timeline and standards are set up by the Central Pollution Control Board (CPCB) which comes under the Ministry of Environment and Forests and Climate Change.

What is the difference between BS-IV and BS-VI?

• The main difference in standards between the existing BS-IV and the new BS-VI auto fuel norms is the presence of sulphur.
• The BS-VI fuel is estimated to bring around an 80 per cent reduction of sulphur, from 50 parts per million to 10 ppm.
• BS VI can bring PM in diesel cars down by 80 per cent.
• The emission of NOx (nitrogen oxides) from diesel cars is also expected to come down by nearly 70 per cent and 25 per cent from cars with petrol engines.
• BS VI also make on-board diagnostics (OBD) mandatory for all vehicles.
• OBD device informs the vehicle owner or the repair technician how efficient the systems in the vehicle are.

Side Angle

About ICAT

• International Centre for Automotive Technology (ICAT) is the premier testing and certification agency for providing testing and certification services to the vehicle and component manufacturers in India and abroad.
• It is authorized by Ministry of Road Transport and Highways.
• It has the latest equipment, facilities and capabilities to develop, validate, test and certify the engines and vehicles for the latest norms in the field of emission and many other facilities like crash lab, NVH lab, EMC lab and test tracks.

183.NATIONAL HIGHWAYS AUTHORITY OF INDIA

Why in news?

• The National Highways Authority of India (NHAI) is all set to auction the rights to toll and operate vast stretches of India’s national highways which could earn the Central government about Rs 9,000 crore.

About NHAI

• The National Highways Authority of India (NHAI) is an autonomous agency of the Government of India responsible for management of a network of over 50,000 km of National Highways.
• It is a nodal agency of the Ministry of Road Transport and Highways.
• It was set up in 1988 under the National Highways Authority of India Act, 1988.
• It converted into an autonomous body in 1995.
• It develops, operates and maintain India’s national highways.
• NHAI also performs the function of toll collection in many highways

184.NATIONAL MINERAL DEVELOPMENT CORPORATION (NMDC)

Why in news?

• NMDC halts iron ore production in all its mines, except the Kumaraswamy Mines in Karnataka, due to tribal protests.

 About NMDC

• NMDC is a Government of India fully owned public enterprise mineral producer,
• NMDC is under the administrative control of the Ministry of Steel, Government of India.
• It is incorporated in 1958.
• It is involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.
• It is India’s single largest iron ore producer and exporter producing more than 35 million tons of iron ore from 3 fully mechanized mines in Chhattisgarh and Karnataka.
• It also operates the only mechanized diamond mine in the country at Panna in Madhya Pradesh.

Operating mines

1. Bailadila Iron Ore Mine, Kirandul Complex, Chhattisgarh
2. Bailadila Iron Ore Mine, Bacheli Complex, Chhattisgarh
3. Donimalai Iron Ore Mine, Karnataka
4. Diamond Mining Project, Panna , Madhya Pradesh

185.NATIONAL ANIMAL DISEASE CONTROL PROGRAMME FOR FOOT AND MOUTH DISEASE (FMD) AND BRUCELLOSIS

Why in news?

• The Centre has approved Rs 13,343 crore for the National Animal Disease Control Programme for Foot and Mouth Disease (FMD) and Brucellosis for the next five years.

About FMD Control Programme

• FMD control programme envisages 100 per cent vaccination coverage of cattle, buffaloes, sheep, goats and pigs at six months interval in the entire country.
• Animals will be identified using unique animal identification ear tags.
• The programme also includes de-worming of targeted population of livestock twice a year as one of its activities.

 About FMD 

• Foot-and-mouth disease or hoof-and-mouth disease is a contagious viral disease.
• It affects cloven-hoofed animals, including domestic and wild bovids.
• The virus causes a high fever for between two and six days, followed by blisters inside the mouth and on the feet that may rupture and cause lameness.
• Humans can be infected with foot-and-mouth disease through contact with infected animals, but this is extremely rare.

About Brucellosis Control Programme

• Under Brucellosis control programme, 100 per cent vaccination coverage of female cattle and buffalo calves (4-8 months of age) once in a life time.

 About Brucellosis

• Brucellosis is a highly contagious zoonosis caused by genus of bacteria known as Brucella.
• It is also known as undulant fever, Malta fever, and Mediterranean fever.
• The bacteria are transmitted from animals to humans by ingestion through infected food products, direct contact with an infected animal, or inhalation of aerosols

186.ONE NATION, ONE RATION CARD

Why in news?

• The Central government gave a one-year time to the states and the Union Territories (UTs) to implement the “one nation, one ration card” system “without any fail”.

 About the card

• It is a scheme under which the beneficiaries would be able to buy subsidised food grains from ration shops in any part of the country.
• The new mechanism will ensure no poor is deprived of PDS entitlement if that person shifts from one place to another.
• The system will also help remove fake ration card holders.
• The scheme will allow portability of food security benefits.
• It will be available across the country from July 1, 2020.
• The poor migrant workers will be able to buy subsidised rice and wheat from any ration shop in the country, so long as their ration cards are linked to Aadhaar.
• The migrants would only be eligible for the subsidies supported by the Centre, which include rice sold at Rs. 3/kg and wheat at Rs. 2/kg.
• Even if a beneficiary moved to a State where grains were given for free, that person would not be able to access those benefits, as they were funded by the State exchequer.

187.SECURITIES APPELLATE TRIBUNAL

Why in news?

• Securities appellate tribunal announced an interim hold on the penalty on National Stock Exchange (NSE).

 About Securities Appellate Tribunal (SAT)

• Securities Appellate Tribunal is a statutory body established under the provisions of the Securities and Exchange Board of India Act, 1992.
• It was established to dispose appeals against orders passed by the Securities and Exchange board of India or by an adjudicating officer under the Act.

 Composition 

• SAT consists of a Presiding Officer & Two other members.
• The Presiding officer of SAT shall be appointed by the Central Government in consultation with the Chief Justice of India or his nominee.
• The two members of SAT shall be appointed by the Central Government.

 Qualifications

• The Presiding Officer must be o A sitting or retired judge of the supreme court or
• A sitting or retired Chief Justice of the High Court or
• A sitting or retired Judge of a High court, who has completed atleast 7 years of service as a Judge in a High Court.
• The Members must be
• A person of ability, integrity and standing and
• He should have shown capacity in dealing with problems relating to securities market and has qualification and experience of corporate law, Securities laws, Finance, economics or accountancy.

Tenure

• The presiding officer can hold for tenure for 5 years or maximum age of 68 years.
• The members hold tenure of 5 years at a time or for maximum age of 62 years.

 Powers

• The SAT shall have, for the purpose of discharging their functions under this Act, the same powers as are vested in a civil court under the code of civil procedure 1908 when trying a suit, in respect of the following matters namely
• Summoning and enforcing the attendance of any person and examine him on oath
• Requiring the discovery and production of documents o Receiving evidence on affidavits
• Issuing commissions for the examination of witnesses or documents
• Reviewing its decisions
  Dismissing an application for default or deciding it ex-parte
• Setting aside any order or dismissal of any applicable for default or any order passed by it ex-parte
• Any other matter which may be prescribed

Appeals

• Every appeal shall be filed within 45 days from the date on which a copy of the order made by SEBI or the adjudicating officer is received by him and accompanied by such form and fees as may be prescribed.
• The SAT may entertain an appeal after the expiry of the said period of 45 days if it is satisfied that there was sufficient cause for not filing it within that period.

188.PRIME MINISTER’S ECONOMIC ADVISORY COUNCIL (PMEAC)

Why in news?

• PM Economic Advisory Council on its meeting says, need to set up GST Council-like body for public spending.

Prime Minister’s Economic Advisory Council (PMEAC):

• PMEAC is a non-constitutional and non-statutory, non-permanent and independent body.
• It is constituted with the prime and sole aim to analyse all critical issues, economic or otherwise, referred to it by the prime minister and advising him thereon.

Functions:

• Submit periodic reports to PM related to macroeconomic developments and issues which will have implications of the economic policy.
• Analyse any topics, issues assigned by the PM and provide advice to them.
• Analyse macroeconomic issues having high importance and present the views to PM and any other task which is assigned by Prime Minister

189.ECONOMIC CENSUS

Why in news?

• The statistics ministry has decided to use mobile phone application for conducting 7th economic census beginning next month, which will speed up the process of data collection and analysis.

 About the census

• Indian economic census is the census of the Indian economy through counting all entrepreneurial units in the country which involved in any economic activities of either agricultural or non-agricultural sector which engaged in production and/or distribution of goods and/or services not for the sole purpose of own consumption.
• It provides detailed information on operational and other characteristics such as number of establishments, number of persons employed, source of finance, type of ownership etc.
• These information is used for micro level/ decentralized planning and to assess contribution of various sectors of the economy in the gross domestic product (GDP).
• The census will provide insights of all economic activities and ownership patterns of businesses across the country.

 Who conducts the census?

• The Ministry of Statistics and Programme Implementation (MoSPI) partnered with CSC e-Governance services India Ltd (CSC SPV) to conduct the census.
• In 1976, Government of India launched a plan scheme called Economic Census and Surveys.
• In 1977 Central Statistical Organisation conducted First economic census in collaboration with the Directorate of Economics & Statistics (DES) in the States/Union Territories.
• The subsequent Censuses were conducted in the years 1980, 1990, 1998, 2005. The 6th and the latest census was conducted in 2013.

190.UTKARSH 2022

• It is a three- year roadmap to improve regulation and supervision, among other functions of the central bank, RBI.
• This medium term strategy is in line with the global central banks’ plan to strengthen the regulatory and supervisory mechanism

191.GAFA TAX

• GAFA is an acronym for Google, Apple, Facebook, and Amazon and GAFA Tax refers to the taxes paid by US tech giants like Google, Apple, Facebook, Amazon etc in Europe.
• France passes legislation for GAFA tax which levy a 3% per cent of annual revenues of these firms providing services to French consumers.

192.Nobel Prize in Economics 2019

Why in news

• 2019 Sveriges Riksbank Prize in Economic popularly called the Nobel Prize in Economics shared Abhijit Banerjee, Esther Duflo, and Michael Kremer, for their experimental approach to alleviating global poverty.

More about the news

• The field of invention was in the Developmental Economics.
• It is a branch of economics that focuses on improving fiscal, economic, and social conditions in developing countries.
• Researchers used randomized controlled trials to determine how best to ameliorate global poverty.
• It is previously used in the pure sciences and in clinical drug trials and this is the first time being deployed in the social sciences.
• Rather than focussing on big-picture questions, they divided the issue into smaller, more manageable and measurable questions.
• They used empirical question-based approache., asking questions to individuals and finding solutions to poverty.
• They then showed that these smaller questions could be best answered through carefully designed experiments among the people who are most affected.
• The new Nobel laureates have strived to explain empirically which interventions work to alleviate poverty and why.

  The Randomised Control Trial (RCT)

• It is a trial in which subjects are randomly assigned to one of two groups: one (the experimental group) receiving the intervention that is being tested, and the other (the comparison group or control) receiving an alternative (conventional).

• The two groups are then followed up to see if there are any differences between them in outcome.
• The results and subsequent analysis of the trial are used to assess the effectiveness of the intervention.
• RCTs are the most stringent way of determining whether a cause-effect relation exists between the intervention and the outcome.

193.National Technical Textiles Mission

Why in news?

• A National Technical Textiles Mission Proposed in Union Budget

More about

• The Union Minister for Finance & Corporate Affairs has announced a proposal to set up a National Technical Textiles Mission with a four-year implementation period from 2020-21 to 2023-24 at an estimated outlay of 1480 crore.
• It aims to position India as a global leader in Technical Textiles.
• In the Budget speech Finance minister said that India imports significant quantity of technical textiles worth USD 16 billion every year.
• Technical textiles are material and products manufactured primarily for their technical properties and functional requirements rather than for aesthetic characteristics.
• The scope of use of technical textiles encompasses a wide range of applications such as agro-textiles, medical textiles, geo-textiles, protection-textiles, industrial-textiles, sports-textiles and many other usages.
• Use of technical textiles have benefits of increased productivity in agriculture, horticulture and aquaculture fields, better protection of military, para-military, police and security forces, stronger and sturdier transportation infrastructure for highways, railways, ports and airports and in improving hygiene and healthcare of general public.

194.SFURTI Scheme

Why in news?

• A total amount of Rs 2.3 crores has been sanctioned for the scheme SFURTI in the budget 2020.

SFURTI Scheme:

Ministry – MSME (Micro, Small and Medium Enterprises)

• The scheme SFURTI-Scheme of Fund for Regeneration of Traditional industries was launched in 2005 with the view to promote Cluster development.
• Under the Scheme, financial assistance is provided for development of Khadi, coir and village Industries clusters.
• The following schemes are being merged into SFURTI:
• The Scheme for Enhancing Productivity and Competitiveness of Khadi Industry and Artisans
• The Scheme for Product Development, Design Intervention and Packaging (PRODIP)
• The Scheme for Rural Industries Service Center (RISC)
• Other small interventions like Ready Warp Units, Ready to Wear Mission, etc.

Objectives of Scheme:

• To organize the traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability
• To provide sustained employment for traditional industry artisans and rural entrepreneurs.
• To enhance marketability of products of such clusters.
• To equip traditional artisans of the associated clusters with the improved skills.
• To make provision for common facilities and improved tools and equipment for artisans.

Who can apply?

• Non-Government organizations (NGOs)
• Institutions of the Central and State Governments
• Semi-Government institutions
• Field functionaries of State and Central Govt.
• Panchayati Raj institutions (PRIs)

195.Green India Mission (GIM)

• A sum of Rs 343.08 crore has been released under the Green India Mission (GIM) for undertaking afforestation activities over an area of 126,916.32 hectare (ha) in 13 states, according to the Economic Survey 2019-20.

• The National Mission for a Green India or Green India Mission (GIM) is one of the eight missions India’s National Action Plan on Climate Change.
• It seeks to put a third of the country under forest cover by increasing forest and tree cover to the extent of 5 million hectares (mha).
• Besides, there are efforts at improving quality of forest/tree cover on another 5 mha of forest/non-forest lands.
• It was launched in February 2014 for protecting; restoring and enhancing India’s diminishing forest cover and responding to climate change by a combination of adaptation and mitigation measures.
• The mission recognizes the influence forests on environmental amelioration through climate change mitigation, water security, food security, biodiversity conservation and livelihood security of forest living as well as dependent communities.

Objectives of National Mission for a Green India

• To protect, restore and enhance India’s falling forest cover.
• To respond to climate change through a combination of adaptation as well as mitigation measures.
• To increased forest-based livelihood incomes.
• To enhance annual Carbon sequestration by 50 to 60 million tonnes in the year 2020.

The Eight missions under the National Action Plan on Climate Change (NAPCC):

• National Water Mission
• Green India Mission
• National Solar Mission
• National Mission on Sustainable Habitat
• National Mission on Enhanced Energy Efficiency
• National Mission for Sustaining Himalayan Ecosystem
• National Mission for Sustainable Agriculture
• National Mission on Strategic Knowledge for Climate Changes

196.Vivad Se Vishwas Scheme

Why in news?

• The Finance Minister Nirmala Sitaraman proposed the scheme Vivad Se Vishwas Scheme in the Union Budget 2020.

More about

• The scheme aims to settle the pending cases on direct taxes.
• In order to implement the scheme, a bill is introduced in Lok Sabha on February 5, 2020.
• The scheme is very similar to the Indirect Tax, Sabka Vishwas Scheme introduced by the minister in her previous budget in 2019.
• The Sabka Vishwas scheme aimed to settle down the disputes related to service tax and excise duty payments.

Key features of the scheme

• Scheme aims to resolve 483,000 direct tax disputes pending in various appellate forums,such as Commissioner (Appeals), Income Tax Appellate Tribunal (ITAT), High Court and Supreme Court.
• Under the scheme:
• Taxpayers whose tax demands are locked in dispute in multiple forums can pay due taxes by March 31, 2020, and get complete waiver of interest and penalty.
• Under the scheme if a taxpayer is not able to pay within the March 31 deadline, he gets a further time till June 30, but in that case he would have to pay 10 per cent more on the tax.
• In case it is just the interest and the penalty which is in dispute, the taxpayer will have to pay 25 per cent of the disputed amount till March 31, and subsequently it will be 30 per cent.

197.Merchandise Exports from India Scheme

Why in news?

• A new tax refund scheme announced by Finance Minister on Saturday will replace the current one, compliant with World Trade Organization (WTO). This removes uncertainty over taxes on outbound shipments and was welcomed by exporters.

Scheme for Remission of Duties or Taxes on Export Products

• The new scheme will neutralise all duties and levies.
• From the next year, the Remission of Duties or Taxes on Export Products (RoDTEP) will replace the Merchandise Exports from India Scheme (MEIS) for all exported goods except textiles.
• Other features of the scheme are yet to be finalised

Merchandise Exports from India Scheme

• Introduced in 2015, under the Foreign Trade Policy, the MEIS incentivises merchandise exports of more than 8,000 items.
• This is the biggest scheme of its kind.
• Objective of MEIS is to offset infrastructural inefficiencies and associated costs involved in export of goods and products, which are produced and manufactured in India.
• It also seeks to enhance India’s export competitiveness of these goods and products having high export intensity, employment potential.
• Exporters earn duty credits at fixed rates of 2 per cent, 3 per cent, and 5 per cent, depending upon the product and target country.
• RoDTEP will also be based on this method, but the rates are yet to be decided

198.e-assessment Scheme

Why in news?

• A national e-assessment centre (NeAC) will be set up in the national capital as part of the government’s ambitious plan to launch faceless and nameless assessment for income tax payers.

e-assessment Scheme:

Why the scheme launched?

• To facilitate faceless assessment of income-tax returns via completely electronic communication between tax officials and taxpayers.
• This will be done through national and regional e-assessment centres, which will allocate cases in automated form.

When will it Rolled out?

• The scheme will be rolled out from ‘Vijayadashami’ on 8 October 2019.

Under the scheme: A person shall not be required to appear either personally or through authorised representative in connection with any proceedings under e-assessment scheme before the income-tax authority at the National e-assessment Centre or Regional e-assessment Centre or any unit set up.

• In cases where any modification is required, the taxpayer will be provided an opportunity for a personal hearing and such hearing shall be conducted exclusively by video conferencing.

199.NIRVIK Scheme

Why in news?

• Ministry of Commerce & Industry through Export Credit Guarantee Corporation (ECGC) has introduced a new Export Credit Insurance Scheme (ECIS) called NIRVIK to enhance loan availability and ease the lending process.

NIRVIK Scheme

• Gems, jewellery and diamond (GJD) sector borrowers with limit of more than Rs. 80 crore will have a higher premium rate as compared to non-GJD sector borrowers of this category due to the higher loss ratio.

• The ECGC cover provides additional comfort to banks as the credit rating of the borrower is enhanced to AA rated account.
• Enhanced cover will ensure that Foreign and Rupee export credit interest rates will be below 4%and 8% respectively for exporters.
• Under ECIS, insurance cover percentage has also been enhanced to 90% from the present average of 60% for both Principal and Interest.
• The scheme also aims to simplify the procedure for settlement of claims and provisional payment of up to 50 percent within 30 days on production of proof of end-use of the advances in default by the Insured Bank.
• The scheme will mandate inspection of bank documents and records by ECGC officials for losses exceeding Rs.10 crore as against the present Rs 1crore.

Export Credit Guarantee Corporation of India (ECGC)

• The Export Credit Guarantee Corporation of India (ECGC) is a fully government-owned company that was established in 1957 to promote exports by providing credit insurance services.
• The ECGC provides Export Credit Insurance to Banks (ECIB) to protect the banks from losses on account of export credit at the Pre and Post-Shipment stage given to exporters due to the risks of insolvency or protracted default of the exporter borrower.

 

200.Steel Import Monitoring System (SIMS)

Why in news?

• Union Minister of Commerce & Industry and Railways, Piyush Goyal and Minister of State for Commerce & Industry, Hardeep Singh Puri launched Steel Import Monitoring System (SIMS) in New Delhi.

Steel Import Monitoring System (SIMS)

• The system has been developed in consultation with Ministry of Steel on the pattern of US Steel Import Monitoring and Analysis (SIMA) system.
• The SIMS will provide advance information about steel imports to Government and stake holders including, steel industry (producers), steel consumers (importers) to have effective policy interventions.
• In this system, the importers of specified steel products will register in advance on the web portal of SIMS providing necessary information.
• The registration will be online and automatic and no human intervention is required. 
• The importer can apply for registration not earlier than 60^thday and not later than 15^th day before the expected date of arrival of import consignment.
• The automatic Registration Number thus granted shall remain valid for a period of 75 days.
• The information about the steel imports provided by the importers on the SIMS will be monitored by the Steel Ministry.
• Steel Import Monitoring System (SIMS) has been notified with effect from 1^stNovember, 2019