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PM MITRA Parks for Textile sector

With a view to attract investment, boost employment generation and position itself strongly in the global textile market, the Government has approved setting up of 7 (Seven) PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks in Greenfield/Brownfield sites including plug and play facility with an outlay of Rs. 4445 cr for a period of seven years upto 2027-28. The salient features of the PM MITRA Scheme are:- Willing state governments to have ready availability of

National Wind-Solar Hybrid Policy

The Ministry of New and Renewable Energy issued the National Wind-Solar Hybrid Policy on 14th May 2018. The main objective of the National Wind Solar Hybrid Policy is to provide a framework for the promotion of large grid-connected wind-solar PV hybrid systems for optimal and efficient utilization of wind and solar resources, transmission infrastructure and land. A scheme for setting up of 2500 MW Inter-State Transmission System (ISTS) connected wind solar hybrid projects was sanc

Changes in the Prompt Corrective Action norms for bank

Changes in the Prompt Corrective Action norms for banks Context: This topic is important for UPSE GS Paper 3. What will commercial banks under scrutiny need to do to get out of the restrictions imposed by the central bank? The story so far: The RBI issued a notification on November 2 revising norms for commercial banks to be placed under the regulator’s Prompt Corrective Action (PCA) framework should any of their key metrics fall out of line. The revision takes effect from January

How to promote Renewable Energy Sources in India?

At present, the Government has set a target for achieving 175 GW of Renewable Energy capacity by the year 2022. A total of 150 GW renewable energy capacity (including large hydro) has been installed in the country till date. Further, projects of 63.64 GW capacity are under various stages of implementation and 32.06 GW capacity are under various stages of bidding. Therefore, a total of 245.70 GW capacity has either been installed or under various stages of implementation /bidding. The Gove

Job loss and Unemployment data

Job loss and Unemployment data

National Investment and Manufacturing Zones (NIMZ)

About National Investment and Manufacturing Zones (NIMZ) The Government of India (GoI) has announced a National Manufacturing Policy, 2011, with the objective of enhancing the share of manufacturing in GDP to 25% within a decade and creating 100 million jobs. NIMZs are one of the important instruments to achieve it. As per the Policy, “NIMZs will be developed as integrated industrial townships with state-of-the art infrastructure and land use on the basis of zoning; clean and

International Financial Services Centre (IFSC)

What is an International Financial Services Centre (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. The SEZ Act 2005 allows setting up an IFSC in an SEZ or as an SEZ after approval from the central government. History of IFSC An

Long Range Bomb (LRB)

Defence Research and Development Organisation (DRDO) and Indian Air Force (IAF) team jointly flight tested indigenously developed Long-Range Bomb (LRB) successfully from an aerial platform on October 29, 2021. The LR Bomb, after release from the IAF fighter aircraft, guided to a land-based target at a long range with accuracy within specified limits. The flight of the bomb and the performance was monitored by a number of range sensors including Electro Optical Tracking System (EOTS), Te

Krishi UDAN 2.0

What is Krishi UDAN 2.0 Scheme? Krishi UDAN 2.0 lays out the vision of improving value realization through better integration and optimization of Agri-harvesting and air transportation and contributing to Agri-value chain sustainability and resilience under different and dynamic conditions. The scheme proposes facilitating and incentivizing the movement of Agri-produce by air transportation. We are adopting the model of A2A – Agriculture to Aviation. The convergence betwe

Akash Prime Missile

A new version of the Akash Missile – ‘Akash Prime’ has been successfully flight tested from Integrated Test Range (ITR), Chandipur. The missile intercepted and destroyed an unmanned aerial target mimicking enemy aircrafts, in its maiden flight test after improvements. In comparison to the existing Akash System, Akash Prime is equipped with an indigenous active Radio Frequency (RF) seeker for improved accuracy. Other improvements also ensure more reliable performance

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