PMKISAN
Tags: GS PAPER 3 AGRICULTURE
CONTEXT:
The Department of Agriculture, Cooperation and Farmers Welfare, Government of India is taking several measures to facilitate the farmers and farming activities at field level during the lockdown period. The updated status is given below:
Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
Aquaculture Industry exempted from Lockdown restrictions
10 April, 2020 5 Minutes read
CONTEXT:
MHA issues 5th Addendum to exempt Operations of Marine Fishing/Aquaculture Industry and its Workers from Lockdown Restrictions to fight COVID-19
NEWS:
Ministry of Home Affairs (MHA) has issued an addendum to the consolidated guidelines to all Ministries/Departments regarding the Nationwide lockdown to fight COVID-19.
The 5th addendum exempts from lockdown restrictions the operations of the Fishing (Marine)/Aquaculture Industry, including feeding and maintenance, harvesting, processing, packaging, cold chain, sale and marketing; hatcheries, feed plants, commercial aquaria, movement of fish/ shrimp and fish products, fish seed/feed and workers for all these activities.
Exemption of import tariffs on COVID 19 test kits,etc.
09 April, 2020 5 Minutes read
CONTEXT:
Government Grants exemption from Basic Custom duty & Health Cess on import of Ventilators , PPE , COVID Test Kits &Face & Surgical Masks.
NEWS
In the context of Covid-19 situation, considering the immediate requirement of ventilators and other items,the Central Government has granted exemption from Basic Customs Duty and Health cess, on the import of the following goods, with immediate effect:
This basic customs duty exemption shall be available upto the 30th September, 2020.
MCA allows eVoting facility under Companies Act,2013
08 April, 2020 5 Minutes read
CONTEXT:
MCA allows companies to hold Extraordinary General Meetings (EGMs) through VC or OAVM complemented with e-Voting facility/simplified voting through registered emails
NEWS:
Tax Deducted at Source and Tax Collected at Source (TDS Vs TCS)
04 April, 2020 5 Minutes read
CONTEXT:
Due to outbreak of the Covid-19 pandemic, there is severe disruption in the normal working of almost all sectors. To mitigate the hardships of taxpayers, the CBDT has issued the following directions/clarifications by exercise of its power u/s 119 of the Income-tax Act, 1961 (the Act):
All the assessees who have filed application for lower or nil deduction of TDS/TCS for F.Y. 2020-21 and whose applications are pending for disposal as on date and they have been issued such certificates for F.Y. 2019-20
DIFFERENCE BETWEEN TDS(Tax Deducted at Source) AND TCS(Tax Collected at Source):
BASIS FOR COMPARISON |
TDS |
TCS |
Meaning |
TDS implies the amount deducted from the recipient's income in the form of tax. |
TCS refers to an amount accumulated by the seller or company as tax. |
Nature |
Expense |
Income |
Imposition |
Specified expenses crosses the prescribed limit. |
Sale of specified items is made. |
Responsible person |
Deducted by payer or buyer |
Collected by payee or seller |
Occurrence |
Crediting the account of the payee or during payment, whichever is earlier. |
Debiting the account of the buyer or during receipt, whichever is earlier. |
TDS is deducted on the following types of payments:
UDAN scheme
16 March, 2020 5 Minutes read
CONTEXT:
First-ever Indore – Kishangarh flight commenced under UDAN.
UDAN:
INDEX OF 8 CORE INDUSTRIES
31 March, 2020 5 Minutes read
CONTEXT:
8 CORE INDUSTRIES AND ITS CORRESPONDING WEIGHTS AND PERCENTAGES OF GROWTH:
1.Coal
Coal production (weight: 10.33per cent)increasedby 10.3 per cent in February 2020 over February,2019. Its cumulative index declinedby 1.2 per centduring April toFebruary, 2019-20over corresponding period of the previous year.
2.Crude Oil
Crude Oil production (weight: 8.98per cent) declinedby 6.4 per cent inFebruary, 2020 over February,2019. Its cumulative index declined by 6.0 per centduring April toFebruary, 2019-20over the corresponding period of previous year.
3.Natural Gas
The Natural Gas production (weight: 6.88per cent) declinedby9.6 per cent in February, 2020 over February,2019. Its cumulative index declined by 4.8 per centduring April toFebruary, 2019-20 over the corresponding period of previous year.
4.Refinery Products
Petroleum Refinery production (weight: 28.04per cent)increasedby7.4 per cent inFebruary, 2020 overFebruary,2019. Its cumulative index increasedby 0.3 per centduring April to February, 2019-20over the corresponding period of previous year.
5.Fertilizers
Fertilizers production (weight: 2.63 per cent) increased by 2.9 per cent in February, 2020 overFebruary,2019. Its cumulative index increasedby 4.1 per cent during April toFebruary, 2019-20 over the corresponding period of previous year.
6.Steel
Steel production (weight: 17.92per cent)declinedby 0.4 per cent inFebruary, 2020 over February,2019. Its cumulative index increased by 5.0 per centduring April to February, 2019-20 over the corresponding period of previous year.
7.Cement
Cement production (weight: 5.37per cent) increasedby8.6per cent inFebruary, 2020overFebruary,2019. Its cumulative index increasedby1.8per centduring April to February, 2019-20over the corresponding period of previous year.
8.Electricity
Electricity generation (weight: 19.85per cent) increasedby11.0per cent in February, 2020over February,2019. Its cumulative indexincreased by1.8per cent duringApril to February, 2019-20over the corresponding period of previous year.
MEDICAL DEVICES TO BE NOTIFIED AS DRUGS
31 March, 2020 5 Minutes read
CONTEXT:
Government is regulating 24 class of medical devices which have been notifiedB as drugs under Drugs & Cosmetics Act, 1940 and Drugs & Cosmetics Rules, 1945.
Of the above, 4 medical devices viz. (i) Cardiac Stents (ii) Drug Eluting Stents (iii) Condoms and (iv) Intra Uterine Device (Cu-T) are scheduled medical devices for which ceiling prices have been fixed.
These 4 medical devices are under price control. As regard remaining non-scheduled medical devices which are notified/regulated as drugs, NPPA is currently monitoring Maximum Retail Prices (MRPs) of the DPCO, 2013 to ensure that no manufacturer/importers can increase the price more than ten percent in preceding twelve months.
DRUG POLICY OF INDIA:
As per the Modifications in Drug Policy, 1986 announced in September, 1994, the main objectives of the Drug Policy are as under :
DRUG PRICE CONTROL ORDER (DPCO):
The Drugs Prices Control Order, 1995 is an order issued by the Government of India under Sec. 3 of Essential Commodities Act, 1955 to regulate the prices of drugs.
For the purpose of implementing provisions of DPCO, powers of Govt. have been vested in NPPA.
How are the prices of drugs in the controlled category regulated ?
As per the provisions of DPCO, NPPA fixes the Ceiling price for medicines in the controlled category.
What is "Ceiling Price" ?
Ceiling price means a price fixed by the Government for Scheduled formulations in accordance with the provisions of DPCO 2013.
Are all the drugs marketed in the country under price control ?
No. The National List of Essential Medicines (NLEM) 2011 is adopted as the primary basis for determining essentiality, which constitutes the list of scheduled medicines for the purpose of price control. The DPCO 2013 contains 680 scheduled drug formulations spread across 27 therapeutic groups. However, the prices of other drugs can be regulated, if warranted in public interest.
NATIONAL PHARMACEUTICAL PRICING AUTHORITY (NPPA):
The Authority, interalia, has been entrusted with the task of fixation/revision of prices of pharmaceutical products (bulk drugs and formulations), enforcement of provisions of the Drugs (Prices Control) Order and monitoring of the prices of controlled and decontrolled drugs in the country.
INTEREST SUBVENTION SCHEME:
30 March, 2020 5 Minutes read
CONTEXT:
In the wake of lockdown due to ongoing Covid-19 pandemic, the Government has extended the benefit of 2% Interest Subvention (IS) to Banks and 3% Prompt Repayment Incentive (PRI) to all farmers upto 31st May, 2020 for all crop loans upto Rs.3 lakh given by banks which have become due or are becoming due between 1st March, 2020 and 31st May, 2020.
INTEREST SUBVENTION SCHEME:
To provide relief to the farmers affected by Natural Calamities, the interest subvention of 2% will be provided to Banks for the first year on the restructured amount. Such restructured loans will attract normal rate of interest from the second year onwards as per the policy laid down by the RBI.
The Ministry of Rural Development, Government of India launched a new programme known as National Rural Livelihoods Mission (NRLM) by restructuring and replacing the Swarnjayanti Gram Swarozgar Yojana (SGSY) scheme with effect from April 01, 2013. NRLM was renamed as Deendayal Antyodaya Yojana – National Livelihoods Mission (DAY-NRLM) with effect from March 29, 2016.
DAY-NRLM is the flagship program of Govt. of India for promoting poverty reduction through building strong institutions of the poor, particularly women, and enabling these institutions to access a range of financial services and livelihood services.
DAY-NRLM has a provision for interest subvention, to cover the difference between the Lending Rate of the banks and 7%, on all credit from the banks/ financial institutions availed by women SHGs, for a maximum of ? 3,00,000 per SHG. This will be available across the country in two ways:
Agriculture-Farming and allied activities exempted from Lockdown
28 March, 2020 5 Minutes read
CONTEXT:
Government has granted relaxation in the nationwide lockdown for activities related to agriculture-farming and allied activities with a view to address problems being faced by the farming community. This will also ensure uninterrupted harvesting of crops.
Keeping in view the demands of farmers and concerned organisations and at the directions of the Prime Minister, the Union Government urgently considered and sympathetically examined the issue, following which a practical solution was arrived at in the interest of farmers and related communities.
In exercise of the powers conferred under Section 10(2)(I) of the Disaster Management Act with the Chairperson, National Executive Committee. Under this Addendum, activities related to Agriculture and related products, services and such other activities have been brought under the exception categories from the 21 day lockdown.
This will allow unhindered harvesting of crops.
The following categories have been exempted from the lockdown:
This decision has been taken with a view to facilitate unhindered activities related to agriculture and farming so as to ensure essential supplies to the common man and that the farmers and common people do not face any difficulty during the lockdown. Government of India has issued necessary directions to the concerned Ministries/Departments and designated officials of the States and UTs.
Invest India Business Immunity Platform
24 March, 2020 5 Minutes read
CONTEXT:
Invest India Business Immunity Platform launched to help businesses withstand COVID-19.
BUSINESS IMMUNITY PLATFORM:
Aadhar Enabled Payment Systems
27 March, 2020 5 Minutes read
Aadhar Enabled Payment System:
BHIM Aadhaar Pay is meant for merchants to receive digital payments from customers over the counter through Aadhaar authentication. It allows for any merchant associated with any acquiring bank on BHIM Aadhaar Pay service, to allow the merchant to accept payment from a customer of any bank, by authenticating the customer’s biometrics – currently only fingerprints, directly from the customer’s Aadhaar enabled bank account and receive the sale proceeds instantaneously directly into merchant’s own bank account.
To be able to effect the same, the merchant must have an Android mobile with the BHIM Aadhaar app and a certified biometric scanner attached with the mobile phone on the USB port AND both the merchant and customer should have had linked their Aadhaar numbers to their bank accounts respectively.
Aadhar Payment Bridge:
Aadhaar Payment Bridge (APB) System, one of the unique payment systems implemented by NPCI, uses Aadhaar number as a central key for electronically channelizing the Government benefits and subsidies in the Aadhaar Enabled Bank Accounts (AEBA) of the intended beneficiaries.
Advantages of APB:
Recapitalization plan for RRBs
25 March, 2020 5 Minutes read
CONTEXT:
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval for continuation of the process of recapitalization of Regional Rural Banks (RRBs) by providing minimum regulatory capital to RRBs for another year beyond 2019-20, that is, up to 2020-21 for those RRBs which are unable to maintain minimum Capital to Risk weighted Assets Ratio (CRAR) of 9%, as per the regulatory norms prescribed by the Reserve Bank of India.
The CCEA also approved utilization of Rs.670 crore as central government share for the scheme of Recapitalization of RRBs (i.e. 50% of the total recapitalization support of Rs.1340 crore), subject to the condition that the release of Central Government’s share will be contingent upon the release of the proportionate share by the sponsor banks.
Benefits of Recapitalisation:
A financially stronger and robust Regional Rural Banks with improved CRAR will enable them to meet the credit requirement in the rural areas.
With the recapitalization support to augment CRAR, RRBs would be able to continue their lending to these categories of borrowers under their PSL target, and thus, continue to support rural livelihoods.
Background:
IMPORTANCE OF RRBS:
CRAR:
The CRAR, also known as the Capital Adequacy Ratio (CAR), is the ratio of a bank’s capital to its risk.
MoU Between India and Germany in Railway sector
25 March, 2020 5 Minutes read
CONTEXT:
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi was apprised of a Memorandum of Understanding (MoU) signed between Ministry of Railways, Government of India with DB Engineering & Consulting GMBH of Germany for technological cooperation inRailway Sector. The MoU was signed in February, 2020.
Background:
NEWS:
This Memorandum of Understanding (MoU) for technological cooperation in Railway Sector will enable cooperation in the following areas:
Pradhan Mantri Garib Kalyan Yojana
26 March, 2020 5 Minutes read
CONTEXT:
Finance Minister announces Rs 1.70 Lakh Crore relief package under Pradhan Mantri Garib Kalyan Yojana for the poor to help them fight the battle against Corona Virus
NEWS:
The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced Rs 1.70 Lakh Crore relief package under Pradhan Mantri Garib Kalyan Yojana for the poor to help them fight the battle against Corona Virus. While addressing the press conference here today, Smt. Sitharaman said “Today’s measures are intended at reaching out to the poorest of the poor, with food and money in hands, so that they do not face difficulties in buying essential supplies and meeting essential needs.”
The Minister of State for Finance & Corporate Affairs Shri Anurag Singh Thakur was also present besides Shri Atanu Chakraborty, Secretary, Department of Economic Affairs and Shri Debashish Panda, Secretary, Department of Financial Services. Following are the components of the Pradhan Mantri Garib Kalyan Package: —
PRADHAN MANTRI GARIB KALYAN PACKAGE
I. Insurance scheme for health workers fighting COVID-19 in Government Hospitals and Health Care Centres:
Safai karamcharis, ward-boys, nurses, ASHA workers, paramedics, technicians, doctors and specialists and other health workers would be covered by a Special insurance Scheme.
Any health professional, who while treating Covid-19 patients, meet with some accident, then he/she would be compensated with an amount of Rs 50 lakh under the scheme.
All government health centres, wellness centres and hospitals of Centre as well as States would be covered under this scheme approximately 22 lakh health workers would be provided insurance cover to fight this pandemic.
II. PM Garib Kalyan Ann Yojana
Government of India would not allow anybody, especially any poor family, to suffer on account of non-availability of foodgrains due to disruption in the next three months.
80 crore individuals, i.e, roughly two-thirds of India’s population would be covered under this scheme.
Each one of them would be provided double of their current entitlement over next three months.
This additionality would be free of cost.
Pulses:
To ensure adequate availability of protein to all the above mentioned individuals, 1 kg per family, would be provided pulses according to regional preferences for next three months.
These pulses would be provided free of cost by the Government of India.
III. Under Pradhan Mantri Garib Kalyan Yojana,
Benefit to farmers:
The first instalment of Rs 2,000 due in 2020-21 will be front-loaded and paid in April 2020 itself under the PM KISAN Yojana.
It would cover 8.7 crore farmers
IV. Cash transfers Under PM Garib Kalyan Yojana:
Help to Poor:
A total of 20.40 crores PMJDY women account-holders would be given an ex-gratia of Rs 500 per month for next three months.
Gas cylinders:
Under PM Garib Kalyan Yojana, gas cylinders, free of cost, would be provided to 8 crore poor families for the next three months.
Help to low wage earners in organised sectors:
Wage-earners below Rs 15,000 per month in businesses having less than 100 workers are at risk of losing their employment.
Under this package, government proposes to pay 24 percent of their monthly wages into their PF accounts for next three months.
This would prevent disruption in their employment.
Support for senior citizens (above 60 years), widows and Divyang:
There are around 3 crore aged widows and people in Divyang category who are vulnerable due to economic disruption caused by COVID-19.
Government will give them Rs 1,000 to tide over difficulties during next three months.
MNREGA
Under PM Garib Kalyan Yojana, MNREGA wages would be increased by Rs 20 with effect from 1 April, 2020. Wage increase under MNREGA will provide an additional Rs 2,000 benefit annually to a worker.
This will benefit approximately 13.62 crore families.
V. Self-Help groups:
Women organised through 63 lakhs Self Help Groups (SHGs) support 6.85 crore households.
Limit of collateral free lending would be increased from Rs 10 to Rs 20 lakhs.
VI. Other components of PM Garib Kalyan package
Organised sector:
Employees’ Provident Fund Regulations will be amended to include Pandemic as the reason to allow non-refundable advance of 75 percent of the amount or three months of the wages, whichever is lower, from their accounts.
Families of four crore workers registered under EPF can take benefit of this window.
Building and Other Construction Workers Welfare Fund:
Welfare Fund for Building and Other Constructions Workers has been created under a Central Government Act.
There are around 3.5 Crore registered workers in the Fund.
State Governments will be given directions to utilise this fund to provide assistance and support to these workers to protect them against economic disruptions.
District Mineral Fund
The State Government will be asked to utilise the funds available under District Mineral Fund (DMF) for supplementing and augmenting facilities of medical testing, screening and other requirements in connection with preventing the spread of CVID-19 pandemic as well as treating the patients affected with this pandemic.
Essential Goods during 21-day Nationwide Lockdown
26 March, 2020 5 Minutes read
CONTEXT:
MHA issues SOPs for Maintaining Supply of Essential Goods during 21-day Nationwide Lockdown to fight COVID-19
Union Ministry for Home Affairs (MHA) issued Standard Operating Procedure (SOPs) for maintaining supply of essential goods today, in order to relieve hardships faced by people during 21-day nationwide lockdown to fight the Coronavirus outbreak.
NEWS:
ESSENTIAL COMMODITIES ACT, 1955:
???????RECENT ISSUES WITH THE ECA,1955:
PRADHAN MANTRI FASAL BIMA YOJANA
13 March, 2020 5 Minutes read
CONTEXT:
PMFBY SCHEME:
Remission of Duties and Taxes on Exported Products (RoDTEP)
13 March, 2020 5 Minutes read
CONTEXT:
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval for introducing the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) .
Remission of Duties and Taxes on Exported Products (RoDTEP):
ADVANTAGES:
|
Piped Water Supply
12 March, 2020 5 Minutes read
CONTEXT:
As reported by States/ UTs as on 01.04.2019, country had about 17.87 Crore rural households out of which around 3.27 Crore rural households were with tap connections and around 14.60 Crore rural households were to be provided with tap connections. To enable every rural household in the country to have potable water at service level of 55 litre per capita per day (lpcd) through Functional Household Tap Connection (FHTC) by 2024, Government of India, in partnership with the States, has launched Jal Jeevan Mission (JJM).
BACKGROUND:
Jal Jeevan Mission (JJM) Background The Central Government assistance to States for rural water supply began in 1972 with the launch of Accelerated Rural Water Supply Programme. It was renamed as National Rural Drinking Water Programme (NRDWP) in 2009, which is a centrally sponsored scheme with fund sharing between the Centre and the States. Under NRDWP, one of the objectives was to “enable all households to have access to and use safe & adequate drinking water within premises to the extent possible”.
It was proposed to achieve the goal by 2030, coinciding with the United Nation’s Sustainable Development Goals. But now, it is has been planned to achieve the goal by 2024 through Jal Jeevan Mission (JJM). As per the information available with DDWS, as on 31.3.2019, only 18.33% of rural households i.e., 3.27 Crore out of the total 17.87 Crore rural households in the country, have piped water connection.
Jal Jeevan Mission (JJM) :
Government of India has restructured and subsumed the ongoing National Rural Drinking Water Programme(NRDWP) into Jal Jeevan Mission (JJM) to provide Functional Household Tap Connection (FHTC) to every rural household i.e., Har Ghar Nal Se Jal (HGNSJ) by 2024.
The following kinds of works/ schemes are proposed to be taken up under JJM:
(i)In-village water supply (PWS) infrastructure for tap water connection to every household;
(ii) Reliable drinking water source development/ augmentation of existing sources;
(iii) Transfer of water (multi-village scheme; where quantity & quality issues are there in the local water sources);
(iv) Technological intervention for treatment to make water potable (where water quality is an issue, but quantity is sufficient);
(v) Retrofitting of completed and ongoing piped water supply schemes to provide FHTC and raise the service level;
(vi) Grey water management;
(vii) Capacity building of various stakeholders and support activities to facilitate the implementation.
The goal of JJM is to provide functional household tap connection to every household with service level at the rate of 55 litres per capita per day (lpcd)
Funding Mechanism: The fund sharing pattern between Centre and State is 90:10 for Himalayan (Uttarakhand, Himachal Pradesh) and North-Eastern States, 100:0 for UTs and 50:50 for rest of the States.
Administrative Mechanism :National level National Jal Jeevan Mission, State level State Water and Sanitation Mission (SWSM), District level District Water and Sanitation Mission (DWSM) and Gram Panchayat level Paani Samiti/ Village Water & Sanitation Committee (VWSC)/ User group
Features of Start Up India
11 March, 2020 5 Minutes read
CONTEXT:
Startup India initiative was announced by the Prime Minister of India on 15th August, 2015. The flagship initiative has an objective to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. Further to this, an Action Plan for Startup India was unveiled by the Prime Minister of India on 16th January 2016.
The action plan comprises of 19 action items spanning across areas such as “Simplification and handholding”, “Funding support and incentives” and “Industry-academia partnership and incubation”. Since its inception, 28,979, Startups across the country have been recognised by Department for Promotion of Industry and Internal Trade (DPIIT) as on 01.03.2020
FUND OF FUNDS TO START UPS:
Salient features of Startup India action plan:
Steps Taken to Boost Export
11 March, 2020 5 Minutes read
CONTEXT:
The steps regarding the steps to boost exports was given by the Minister of Commerce and Industry, Shri Piyush Goyal, in a written reply in the Lok Sabha today.
NEWS:
Primary focus by Government on export promotion schemes/ policies is to refund duties and taxes levied on inputs used in production of export products, reduce cost disability by providing incentives to specified products and improve all-round ease of doing business.
Overall thrust is on enhancing competitiveness and growth in exports of all products groups across all destinations. As a result, our export products and destinations are fairly diversified.
In Financial Year 2018-19 products were exported to 233 countries/territories covering all big and small trading countries. During this period, we exported products in all the 168 principal commodity groups.
Government is taking holistic measures to make exports competitive whether it is ensuring access to affordable credit, initiating exporter friendly schemes, promoting districts as export hubs, improving logistics and improving utilisation of Free Trade Agreements (FTAs).
STEPS TAKEN BY GOVERNMENT ARE:
Steps to boost domestic investments in India
11 March, 2020 5 Minutes read
CONTEXT:
The information regarding the steps to boost domestic investments in India was given by the Minister of Commerce and Industry, Shri Piyush Goyal, in a written reply in the Lok Sabha today.
NEWS:
Under the scheme of Investment Promotion, Department for Promotion of Industry and Internal Trade supports Sectoral Ministries and State Governments for organizing investment events, summits, road-shows and other promotional activities.
Continuous efforts are made by Ministries and States for Facilitating investments besides handholding services to such investors.
Recently Government has taken various steps in addition to ongoing schemes to boost domestic investments in India. These include the National Infrastructure Pipeline, Reduction in Corporate Tax, easing liquidity problems of NBFCs and Banks, trade policy measures to boost domestic manufacturing, and so on.
In order to protect, support and promote small enterprises as also to help them become self-supporting, a number of protective and promotional measures have been undertaken by the Government.
The various types of help extended by different support agencies of the Government are:
(i) Credit Support, (ii) Marketing Support, (iii) Entrepreneurship Development, (iv) Technology Upgradation, (v) Industrial Infrastructure, (vi) Technical Training, (vii) Institutional Structure, (viii) Assistance Programmes, (ix) special incentives for setting up of Enterprises in backward areas etc.
While most of the institutional support services and incentives are provided by the Central Government, others are offered by the State Governments in varying degrees to attract investments and promote small industries with a view to enhance industrial-production and to generate employment in their respective States.
High Speed Corridors in Indian Railways
05 March, 2020 5 Minutes read
Syllabus subtopic: Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
Prelims and Mains focus: about the HSR corridors; reforms in railway sector
Context: The Railways is undertaking measures for improving speed of both passenger and freight trains. Improvement in average speed of trains is a continuous exercise for Railways.
Steps taken
About the high speed corridors
Project Monitoring Group (PMG) of DPIIT
29 February, 2020 5 Minutes read
Syllabus subtopic: Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
Prelims and Mains focus: about the meeting; about PMG; about Invest India and its functions
Context: Minister of Railways and Commerce & Industry chaired a meeting for the review of 17 large-size infrastructure projects on 27th of February in Department of Promotion of Industry and Internal Trade (DPIIT), New Delhi.
About the meeting
About Project Monitoring Group (PMG).
About Invest India
Functions:
Market Intelligence and Early Warning System Portal
27 February, 2020 5 Minutes read
Syllabus subtopic: Food Processing and Related Industries in India- Scope’ and Significance, Location, Upstream and Downstream Requirements, Supply Chain Management.
Prelims and Mains focus: about the portal: features and significance; about Operation Greens
Context: Union Minister of Food Processing Industries, launched the– Market Intelligence and Early Warning System (MIEWS) Web Portal.
About MIEWS portal: features and significance
Operation Greens (OG) scheme
The objectives of Operation Greens scheme are:
The scheme has two-pronged strategy of Price stabilisation measures (for short term) and integrated value chain development projects (for long term).
(I) Price Stabilisation Measures
(a) NAFED is the Nodal Agency to implement price stabilisation measures. MoFPI will provide 50% of the subsidy on the following two components:
(b) Creation of Market Intelligence and Early Warning System – ‘MIEWS’ Web Portal and Dashboard – a platform for monitoring prices of TOP Crops
(II) Integrated value chain development projects
Kashi Mahakal Express
14 February, 2020 5 Minutes read
Syllabus subtopic: Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
Prelims and Mains focus: about the key features of the train and its route
Context: After the successful run of the Tejas Express trains operating on the Lucknow-Delhi and Ahmedabad-Mumbai routes, Indian Railways is going to start operation of the third corporate passenger train - Kashi Mahakal Express.
Details of the new train
Public Enterprises Survey 2018-19
10 February, 2020 5 Minutes read
Syllabus subtopic: Effects of Liberalization on the Economy, Changes in Industrial Policy and their Effects on Industrial Growth.
Prelims and Mains focus: about the key highlights of the survey
Context: The Public Enterprises Survey -2018-19 was tabled in both the Houses of Parliament on 10th February 2020.
About the survey
The highlights of the performance of CPSEs, during 2018-19 are given below:
Major Port at Vadhavan (Maharashtra)
05 February, 2020 5 Minutes read
Syllabus subtopic: Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
Prelims and Mains focus: about the new major port and its significance; about major ports in India
Context: The Union Cabinet, chaired by the Prime Minister has given its 'in-principle' approval for setting up a Major Port at Vadhavan near Dahanu in Maharashtra.
About the port
About Jawaharlal Nehru Port
Why the need felt for Vadhavan Port?
Reforms in Infrastructure sector
01 February, 2020 5 Minutes read
Syllabus subtopic: Government Budgeting.
Prelims and Mains focus: reforms announced in the various sectors during the Union Budget 2020-21
Context: Union Minister for Finance & Corporate Affairs, while presenting the Union Budget 2020-21, in Parliament, said that infrastructure was crucial to the theme of “Economic development” and hence the Budget which is dedicated to provide “Ease of Living” to all citizen.
Reforms announced
Key Highlights of Economic Survey 2019-20
31 January, 2020 5 Minutes read
Syllabus subtopic: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment.
Prelims and Mains focus: about the key highlights of the economic survey and various suggestions given in it
Context: The Union Minister for Finance & Corporate Affairs, presented the Economic Survey 2019-20 in the Parliament today.
The Key Highlights of the Economic Survey 2019-20 are as follows:
Wealth Creation: The Invisible Hand Supported by the Hand of Trust
Entrepreneurship and Wealth Creation at the Grassroots
Pro-business versus Pro-markets
Undermining Markets: When Government Intervention Hurts More Than It Helps
1. Essential Commodities Act (ECA), 1955:
o Frequent and unpredictable imposition of blanket stock limits on commodities under ECA distorts:
o Imposition of stock limits on dal in 2006-Q3, sugar in 2009-Q1 and onions in September, 2019 spiked up the volatility of the retail and wholesale prices of onions.
o The Ministry of Consumer Affairs must examine whether the ECA is relevant in today’s India.
o With raids having abysmally low conviction rate and no impact on prices, the ECA only seems to enable rent-seeking and harassment.
o Survey suggests there is clear evidence for jettisoning this anachronistic legislation.
o The regulation of prices of drugs, through the DPCO 2013, led to increase in the price of the regulated pharmaceutical drug vis-à-vis that of an unregulated but similar drug.
o The increase in prices is greater for more expensive formulations than for cheaper ones and for those sold in hospitals rather than retail shops.
o These findings reinforce that the outcome is opposite to what DPCO aims to do - making drugs affordable.
o Government, being a huge buyer of drugs, can intervene more effectively to provide affordable drugs by combining all its purchases and exercising its bargaining power.
o Ministry of Health and Family Welfare must evolve non-distortionary mechanisms that utilise Government’s bargaining power in a transparent manner.
o Policies in the food-grain markets led to:
o The food-grains policy needs to be dynamic and allow switching from physical handling and distribution of food-grains to cash transfers/food coupons/smart cards.
o Analysis of debt waivers given by States/Centre:
Creating Jobs and Growth by Specializing in Network Products
Targeting Ease of Doing Business in India
Golden jubilee of bank nationalisation: Taking stock
Financial Fragility in the NBFC Sector
Privatization and Wealth Creation
Is India’s GDP Growth Overstated? No!
Thalinomics: The Economics of a Plate of Food in India
India’s Economic Performance in 2019-20
Measures to protect Commercial decision making by Banks
28 January, 2020 5 Minutes read
Syllabus subtopic:
Prelims and Mains focus: about the steps taken by the government for protecting genuine commercial decisions of bankers; about CVC
Context: The Finance Minister has repeatedly assured Bankers that adequate measures would be taken to protect honest commercial decisions taken by them and distinction would be made between genuine commercial failures and culpability.
Steps taken by the government
About Central Vigilance Commission (CVC)
It is the apex vigilance institution. It was created via executive resolution (based on the recommendations of Santhanam committee) in 1964 but was conferred with statutory status in 2003. It submits its report to the President of India.
Composition: Presently, the body consists of central vigilance commissioner along with 2 vigilance commissioners.
Appointment: They are appointed by the President of India on the recommendations of a committee consisting of
Term: Their tenure is 4 years or 65 years, whichever is earlier.
Removal: The Central Vigilance Commissioner or any Vigilance Commissioner can be removed from his office only by order of the President on the ground of proved misbehavior or incapacity after the Supreme Court, on a reference made to it by the President, has, on inquiry, reported that the Central Vigilance Commissioner or any Vigilance Commissioner, as the case may be, ought to be removed.
3rd Global Potato Conclave
28 January, 2020 5 Minutes read
Syllabus subtopic:
Prelims and Mains focus: About the event and its significance; about PM Kisan Sampada Yojana
Context: The Prime Minister addressed the 3rd Global Potato Conclave at Gandhinagar, Gujarat.
Background
About the event
Significance of the event
The 3rd Global Potato Conclave will provide an opportunity to bring all stakeholders at one common platform so that all the issues are discussed and future plans are made involving everyone related to the potato sector. This will be a unique event to expose different stakeholders of the country to the frontiers of knowledge and innovations in potato research.
Govt. initiatives
The steps taken by the Government to promote food processing industries at every level like opening the sector to 100% FDI, helping in value addition and value chain development through PM Kisan Sampada Yojana.
About PM Kisan Sampada Yojana
Objectives of the scheme
The following schemes will be implemented under PM Kisan SAMPADA Yojana :
IBBI amends the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
07 January, 2020 5 Minutes read
Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
Prelims and Mains focus: about the new amendment; IBBI: structure, role and functions
Context: The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020 on 6th January 2020.
Changes made by the amendment
The amended regulations are effective from 6th January 2020.
About IBBI
IBBI or Insolvency and Bankruptcy Board of India came into existence on 1st of Oct 2016 to regulate and counter various bad loan cases reported by various creditors, which especially involved banks in India. The IBBI falls under Insolvency and Bankruptcy Code, 2016 and regulates the profession as well processes related to insolvency and bankruptcy.
It plays the role of governing body for all Insolvency Resolution Professionals, Insolvency Professional Agencies and Information Utilities. It enacts rules as well enforce them to resolve the corporate insolvency, corporate liquidation, individual insolvency and individual bankruptcy as per Insolvency and Bankruptcy Code, 2016. It helps to implement the provision of the IBC and acts to amend any law under it to suite the current challenges. It works towards resolving any insolvency for corporates, individuals and partnership firms in a time bound fashion to maximize the value of insolvent entity and give back the due amount to the creditors.
Power and Functions of IBBI:
IBBI is entrusted to administer the insolvency and bankruptcy regime in the country. It perform tasks like registration of insolvency professional’s agencies, and certify and monitor insolvency resolution professionals. IBBI is also responsible to create information utilities and renew them as and when the case be. IBBI forms rules for minimum eligibility requirements for agencies to register themselves as insolvency professional agencies or professionals to get certified as insolvency resolution professionals. It also levy fee or other charges from these agencies and professionals. It specifies the regulations for their functioning in proper and law abided manner.
IBBI also ensures and enforces that any Insolvency and Bankruptcy Code, 2016 is levied in minimum time available to get maximum gain from debtor's assets to pay off the creditors. They are responsible to carry out the audits and inspections on debtor's assets and creditor's claims. They also specify the regulations for collecting and storing data by various information utilities and provide proper access to the various stakeholders to such data as and when appropriate. They also form communities as may be required in a case to disseminate the information related to it. They are headed to promote transparency amongst the stakeholders while the case is running until it is resolved.
Section 196 of IBC 2016 explains about powers and functions of the board.
Structure of IBBI:
IBBI is constituted by ten-member committee which includes one chairman, three members from Central Government who cannot be below the rank of Joint Secretary or equivalent, One member is nominated by RBI (Reserve Bank of India) in this committee, and rest five members are nominated by Central Government of which three should function as full time members.
Conclusion:
IBBI came into existence because there was deemed lack of a properly structured organization to take care of falling companies and their liquidation. This havoc was creating mistrust amongst the stakeholders in the market and thus genuine people who needed the credit were suffering out of it. This was also framed to support the falling companies to stand again on their feet by restructuring their credits so that they can repay them easily and make a fresh start.
Insolvency and Bankruptcy Code provided the legal framework to facilitate the resolution in such cases and is dedicated to keep developing this framework and related functions and professionals to provide better resolutions.
Open Acreage Licensing Programme (OALP)
02 January, 2020 5 Minutes read
Syllabus subtopic: Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.
Prelims and Mains focus: about OALP, HELP: objectives and significance
Context: Ministry of Petroleum and Natural Gas today signed contracts for 7 blocks, awarded under Open Acreage Licensing Programme (OALP) Bid Round - IV.
Background
The Government had launched OALP Bid Round – IV on 27th August 2019. The Bid Round-IV offered 7 blocks under International Competitive Bidding (ICB) process. The bidding round closed on 31st October, 2019.
Subsequent to evaluation, all 7 blocks were approved for award to ONGC, for which the Revenue Sharing Contracts have been signed today, in the presence of the Minister of Petroleum and Natural Gas & Steel. The total area awarded today in the 7 Onland blocks is 18,510 sq.km.. The blocks are spread across 3 sedimentary basins.
Reforms in hydrocarbon sector
About HELP
Significance
Tripura gets its first SEZ
18 December, 2019 5 Minutes read
Syllabus subtopic: Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth.
Context: The Ministry of Commerce and Industry has notified the setting up of the first ever Special Economic Zone (SEZ) in Tripura on December 16, 2019.
About Special Economic Zone
Antibiotics in CROPS
10 December, 2019 5 Minutes read
Syllabus subtopic: Major crops cropping patterns in various parts of the country, different types of irrigation and irrigation systems storage, transport and marketing of agricultural produce and issues and related constraints; e-technology in the aid of farmers
What are Pesticides?
Pesticides are toxic substances but they do not pose any adverse effect on human beings, animals and the environment if they are used as per the label and leaflet approved by the Registration Committee.
Pesticides are registered for use in the country by the Registration Committee only after satisfying about their efficacy and safety to human health, animal and environment.
Note: to know about the misuse of antibiotics in crops click on the below
Cabinet approves launch of Bharat Bond Exchange Traded Fund
04 December, 2019 5 Minutes read
Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
News: The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi has given its approval for creation and launch of Bharat Bond Exchange Traded Fund (ETF) to create an additional source of funding for Central Public Sector Undertakings (CPSUs) Central Public Sector Enterprises (CPSEs), Central Public Financial Institutions (CPFIs) and other Government organizations. Bharat Bond ETF would be the first corporate Bond ETF in the country.
Prelims and Mains focus: about Bharat ETF and its features, impact of the move on the financial health of CPSEs
Features of Bharat Bond ETF:
ETF will be a basket of bonds issued by CPSE/CPSU/CPFI/any other Government organization Bonds (Initially, all AAA rated bonds)
• Tradable on exchange
• Small unit size Rs 1,000
• Transparent NAV (Periodic live NAV during the day)
• Transparent Portfolio (Daily disclosure on website)
• Low cost (0.0005%)
Bharat Bond ETF Structure:
• Each ETF will have a fixed maturity date
• The ETF will track the underlying Index on risk replication basis, i.e. matching Credit Quality and Average Maturity of the Index
• Will invest in a portfolio of bonds of CPSE, CPSU, CPFI or any other Government organizations that matures on or before the maturity date of the ETF
• As of now, it will have 2 maturity series - 3 and 10 years. Each series will have a separate index of the same maturity series.
Index Methodology:
• Index will be constructed by an independent index provider – National Sock Exchange
• Different indices tracking specific maturity years - 3 and 10 years
Benefits of Bharat Bond ETF to investors:
• Bond ETF will provide safety (underlying bonds are issued by CPSEs and other Government owned entities), liquidity (tradability on exchange) and predictable tax efficient returns (target maturity structure).
• It will also provide access to retail investors to invest in bonds with smaller amount (as low as Rs. 1,000) thereby providing easy and low-cost access to bond markets.
• This will increase participation of retail investors who are currently not participating in bond markets due to liquidity and accessibility constraints.
• Tax efficiency compared to Bonds as coupons from the Bonds are taxed at marginal rates. Bond ETFs are taxed with the benefit of indexation which significantly reduces the tax on capital gains for investor.
Bharat Bond ETF Benefits for CPSEs:
• Bond ETF would offer CPSEs, CPSUs, CPFIs and other Government organizations an additional source of meeting their borrowing requirements apart from bank financing.
• It will expand their investor base through retail and HNI participation which can increase demand for their bonds. With increase in demand for their bonds, these issuers may be able to borrow at reduced cost thereby reducing their cost of borrowing over a period of time.
• Further, Bond ETF trading on the exchange will help in better price discovery of the underlying bonds.
• Since a broad debt calendar to assess the borrowing needs of the CPSEs would be prepared and approved each year, it would inculcate borrowing discipline in the CPSEs at least to the extent of this investment.
Developmental impact on Bond Markets:
• Target Maturity Bond ETF is expected to create a yield curve and a ladder of Bond ETFs with different maturities across calendar years.
• ETF is expected to create new eco-system - Market Makers, index providers and awareness amongst investors - for launching new Bond ETFs in India.
• This is expected to eventually increase the size of bond ETFs in India leading to achieving key objectives at a larger scale - deepening bond markets, enhancing retail participation and reducing borrowing costs.
Boosting Textile Industry Through Technology Upgradation
28 November, 2019 5 Minutes read
Syllabus subtopic: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
Prelims and Mains focus: about the current issues impacting textile industry and steps taken by the government to address them
Context:
After extensive discussions with stakeholders and with a view to promote ease of doing business in the country and achieve the vision of generating employment and promoting exports by way of technology upgradation in textile sector through “Make in India’’ with "Zero effect and Zero defect", the old version of Technology Upgradation Fund Scheme (TUFS) was revised and accordingly a new scheme viz. Amended Technology Upgradation Fund Scheme (ATUFS) was launched in January 2016 with an outlay of Rs. 17,822 crore upto 2022.
About ATUFS
In order to promote handloom sector across the country, financial assistance is provided under the following schemes for raw materials, purchase of looms and accessories, design innovation, product diversification, infrastructure development, skill upgradation, marketing of handloom products and loan at concession rates:
Measures taken to streamline the process under ATUFS
Details of various other actions taken by the Government to boost textile sector
GES 2019 to showcase India’s service sector
26 November, 2019 5 Minutes read
Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
News: Union Minister of Commerce and Industry & Railways, Piyush Goyal will inaugurated the Global Exhibition on Services (GES) 2019 Bengaluru,
Prelims and mains focus: About GES event and its significance, SEPC
About GES 2019:
India’s efforts to promote tourism
About SEPC
Zero Budget Natural Farming (ZBNS)
22 November, 2019 5 Minutes read
Syllabus subtopic: Major crops cropping patterns in various parts of the country, different types of irrigation and irrigation systems storage, transport and marketing of agricultural produce and issues and related constraints; e-technology in the aid of farmers
News: The ICAR-Indian Institute of Farming Systems Research initiated a study on Evaluation of Zero Budget Natural Farming practices in Basmati/ coarse rice-wheat system from Rabi 2017 at 4 locations namely Modipuram, Pantnagar, Ludhiana, Kurukshetra
Prelims and Mains focus: about ZBNS and its significance for Indian agriculture
The details of States practicing ZBNF are as follows:
Cabinet approves code to allow fixed-term employment
21 November, 2019 5 Minutes read
Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
News: The Union cabinet approved the Labour Code on Industrial Relations 2019, allowing companies to hire workers on fixed-term contract of any duration.
Prelims and Mains focus: about the new code and its significance
Background
The industrial relations code is the third out of four labour codes that have got approval from the cabinet. The Labour Code on Wages has already been approved by Parliament in August while the Labour Code on Occupational Safety, Health and Working Conditions has been referred to the standing committee of labour.
In June 2019, the central government has decided to merge 44 labour laws under four categories:
The Labour Code on Wages has already been approved by Parliament while the Labour Code on Occupational Safety and Code on Social security are not been approved yet.
About the Labour Code on Industrial Relations 2019
Key Highlights of the Code
Consumer Price Index Numbers for October month released
13 November, 2019 5 Minutes read
Syllabus subtopic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
News: The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoS&PI) has released CPI (Rural, Urban, Combined) on Base 2012=100 for the month of October 2019.
Prelims and Mains focus: about CPI, WPI, differences between the two indices, and their significance
Context:
Comparison between CPI and WPI
Basis For Comparison |
Wholesale Price Index (WPI) |
Consumer Price Index (CPI) |
Meaning |
WPI, amounts to the average change in prices of commodities at wholesale level |
CPI, indicates the average change in the prices of commodities, at the retail level. |
Published by |
Office of Economic Advisor (Ministry of Commerce & Industry) |
Central Statistics Office (Ministry of Statistics and Programme Implementation) |
Measures prices of |
Goods only |
Goods and Services both |
Measurement of Inflation |
First stage of transaction |
Final stage of transaction |
Prices paid by |
Manufacturers and wholesalers |
Consumers |
How many items covered |
697 (Primary, fuel & power and manufactured products) |
448(Rural Basket) 460 (Urban Basket) |
What type of items covered |
Manufacturing inputs and intermediate goods like minerals, machinery basic metals etc. |
Education, communication, transportation, recreation, apparel, foods and beverages, housing and medical care |
Base year |
2011-12 |
2012 |
Used by |
Only a few countries including India |
157 countries |
Data released on |
Primary articles, fuel and power (Weekly basis) & overall (monthly basis since 2012) |
Monthly basis |
Agriculture Ministry relaxes fumigation condition on imported onion
07 November, 2019 5 Minutes read
Syllabus subtopic: Major crops cropping patterns in various parts of the country, different types of irrigation and irrigation systems storage, transport and marketing of agricultural produce and issues and related constraints; e-technology in the aid of farmers
News: In the light of public concern over high prices of onions in the market the Ministry of Agriculture has decided to allow relaxation from the condition of fumigation and endorsement on PSC as per the Plant Quarantine Order, 2003 for onion imports upto 30th Nov 2019
Prelims and Mains focus: effect of this measure on onion farmers, about Sanitary and Phytosanitary (SPS) measures
What is fumigation?
About Plant Quarantine
Plant Quarantine Order, 2003
The Plant Quarantine (Regulation of Import into India) Order, 2003 aims
Salient features
It classifies Agricultural imports as:
It includes provisions for regulating the import of:
Phytosanitary Certificate
Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman's Presentation on Measures to Boost Economic Growth:
14 September, 2019 5 Minutes read
Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman's Presentation on Measures to Boost Economic Growth:
News
Measures to boost economic growth.
Steps taken to boost Exports:
•“Trade Infrastructure for Export Scheme (TIES)” launched with effect from 1st April 2017 to address the export infrastructure gaps in the country.
•Comprehensive “Agriculture Export Policy” launched on 6th December, 2018 with an aim to double farmers’ income by 2022
•“Transport and Marketing Assistance” (TMA) scheme launched in 05th March 2019 for mitigating disadvantage of higher cost of transportation for export of specified agriculture products.
•Scheme for Remission of Duties or Taxes on Export Product (RoDTEP) will replace MEIS.
•Priority Sector Lending (PSL) norms for Export credit have been examine and enabling guidelines are under consideration of RBI. This will release an additional Rs. 36,000 crs. to Rs 68,000 crores as export credit under priority sector. ECB guidelines will be relaxed to facilitate financing of home buyers who are eligible under the PMAY, in consultation with RBI this is in addition to the existing norms for ECB for affordable housing.
•A Special Window to provide last mile funding for housing projects which are non- NPA and non-NCLT Projects and are Net worth positive in affordable and middle income category to be set up.The objective is to focus on construction of unfinished units.
Steering Committee on Fintech related issues submits its final report
02 September, 2019 5 Minutes read
Steering Committee on Fintech related issues submits its final report
News
The Steering Committee on Fintech related issues constituted by the Ministry of Finance, Department of Economic Affairs, today submitted its Final Report to Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.
Objective of this Committee:
The Committee will study the issues related to the Fintech sector in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship. The Steering Committee will also focus on how Fintech can enhance financial inclusion of (Micro, Small & Medium Enterprises) MSMEs.
Committee Recommended:
Terms of Reference of the Committee
Vizag-Chennai Industrial Corridor
19 July, 2019 5 Minutes read
Vizag-Chennai Industrial Corridor
Context:
The Asian Development Bank (ADB) has prepared the Conceptual Development Plan (CDP) for Vizag-Chennai Industrial Corridor (VCIC) project.
Details:
Four nodes have been identified for development. They are:
The State government of Andhra Pradesh has prioritized two nodes namely, Visakhapatnam and Chittoor.
Tree based farming in the country
19 July, 2019 5 Minutes read
Tree based farming in the country
Context:
Government is promoting tree-based farming for maximizing farm returns and providing sustainable livelihood to farmers.
Details:
Marketing of agricultural products with organic tag
19 July, 2019 5 Minutes read
Marketing of agricultural products with organic tag
Context:
Exemption of small original organic producer or producer organizations from certification through NPOP or PGS.
Details:
Policy for Digital Economy
17 July, 2019 5 Minutes read
Policy for Digital Economy
Context
The Government has recently introduced National Policy on Electronics (NPE) and National Policy on Software Products (NPSP) in 2019 for the growing digital economy. Further, a draft National e-Commerce policy has been prepared and placed for comments in public domain.
e-Commerce policy
Prevent misuse of data while maintaining the spirit of existing regulations
Setting up of Farmer Producer Organizations (FPOs)
16 July, 2019 5 Minutes read
Setting up of Farmer Producer Organizations (FPOs)
Context
To support farmers in various aspects ranging from input procurement to market linkages, Government of India through Small Farmers’ Agribusiness Consortium (SFAC), a registered society under Department of Agriculture, Cooperation & Farmers Welfare, Government of India, is promoting Farmer Producer Organizations (FPOs) by mobilizing the farmers and helping them in registering as companies.
What is a “Farmers Producer Organisation” (FPO)?
It is one type of Producer Organisation (PO) where the members are farmers. Small Farmers’ Agribusiness Consortium (SFAC) is providing support for promotion of FPOs. PO is a generic name for an organization of producers of any produce, e.g., agricultural, non-farm products, artisan products, etc.
What is the need for PO?
Features of a PO?
Formation Of National Rural Bank
16 July, 2019 5 Minutes read
Formation Of National Rural Bank
Context
The Parliamentary Standing Committee on Finance in its Report recommended that Government may consider the setting up of an apex body viz. National Rural Bank of India.
Background
The steps taken by the Government to strengthen the RRBs are as under:
Agricultural Marketing Infrastructure (AMI)
26 July, 2019 5 Minutes read
Agricultural Marketing Infrastructure (AMI)
Context:
Provision of storage facilities to farmers.
Key Points:
About AMI Scheme:
World Skills International Competition 2019
31 July, 2019 5 Minutes read
WorldSkills International Competition 2019
Context
Ministry of Skill Development & Entrepreneurship (MSDE), Government of India announced the 48-member contingent which will represent India at the biggest showcase of skills excellence in the world, called WorldSkills International Competition 2019.
About the event
CSR expenditure to be made tax deductible
13 August, 2019 5 Minutes read
CSR expenditure to be made tax deductible
Context
Shri Injeti Srinivas, Secretary (Corporate Affairs), presented the Report of the High Level Committee on CSR to the Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman.
Recommendation
The main recommendations include, making Corporate Social Responsibility (CSR) expenditure tax deductible, provision for carry forward of unspent balance for a period of 3 – 5 years.
The other recommendations include developing a CSR exchange portal to connect contributors, beneficiaries and agencies, allowing CSR in social benefit bonds, promoting social impact companies, and third party assessment of major CSR projects.
The Committee has emphasized on not treating CSR as a means of resource gap funding for government schemes.
It has emphasized on CSR spending as a board driven process to provide innovative technology based solutions for social problems.
The Committee has also recommended that companies having CSR prescribed amount below Rs. 50 lakh may be exempted from constituting a CSR Committee.
The Committee has also recommended that violation of CSR compliance may be made a civil offence and shifted to the penalty regime.
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