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Self-reliant India based on 5 pillars

Self-reliant India based on 5 pillars Part of: GS-III- Economy (PT-MAINS-PERSONALITY TEST) Addressing the nation, Prime Minister said that building a Self Reliant India was essential in a post COVID-19 world. He highlighted that India's self-reliance would be based on 5 pillars - Economy, Infrastructure, System, Demography and Demand. He also announced Rs 20 lakh crore special package to deal CoVID pandemic, nearly 10% of India’s GDP. The Prime Minister emphasized that self re

How India can become self-reliant

How India can become self-reliant D. Raghunandan is with the Delhi Science Forum, affiliated to the All India People's Science Network Paper-GS-III Aatmnirbhar bharat       Ratings: ***** There needs to be significant government reinvestment in public sector undertakings and R&D Addressing the nation on the COVID-19 pandemi, Prime Minister emphasised the necessity of a self-reliant India. He said the need was brought home by the absence

FICCI prepares action plan for industry

FICCI prepares action plan for industry Amid the ongoing border tensions with China, FICCI has prepared a five-point "PEACE" action plan and asked its members to look for alternate sources of supplies. Amid the on-going border tensions with China and a call to boycott Chinese goods, industry chamber FICCI has prepared a five-point "PEACE" action plan -- Productivity, Efficiency, Alternates, Competitiveness and Exports. Imp Points      &n

Moving resolutely toward the post-pandemic future

Moving resolutely toward the post-pandemic future Context The COVID-19 pandemic has plunged the global economy into its deepest economic contraction since the Great Depression of the 1930s. The editorial talks about the measures taken by India to tackle the pandemic situation and its after-effects. Steps taken by India: Pradhan Mantri Garib Kalyan Yojana (PMGKY): Following the lockdown, a massive relief package was announced for the needy. Around 80 crore citizens are

Gig work and its skewed terms

Gig work and its skewed terms Context: The new Code on Social Security allows a platform worker to be defined by their vulnerability not their labour, nor the vulnerabilities of platform work. Swiggy workers have been essential during the pandemic. Even so, they have faced a continuous dip in pay and no rewards for being essential workers. All India Gig Workers Union During the last six months, many platform workers have unionised under the All India Gig Workers Union and h

Status of Indian Economy and Predictions for 2021

Status of Indian Economy and predictions for 2021 COVID has taken a toll on the World as on Indian Economy. But unlike most other peers, India’s economy had already been hurtling downhill before the pandemic hit. There were two quarters of negative growth and widespread mayhem across the economy, except some sectors like Agriculture. But there is a hope for recovery in 2021. Why was India hit hard? By the beginning of 2020, India had already gotten off the 8% growth track for

Modiji's Man ki Baat

Modiji's Man ki Baat Modiji urged people to make a New Year resolution to substitute foreign-made products for indigenous goods in 2021 “for the sake of the country”. Mr. Modi also asked manufacturers to make sure that Indian-made products are up to global standards, as a part of the government’s Atmanirbhar Bharat (self-reliant India) push and the ‘Vocal for Local’ campaign. He reiterated his earlier appeal to Indians to make a list of products used d

Supply Chain Management and COVID - UPSC

Supply Chain Management and COVID-19 – UPSC Context: UPSC GS Paper III - Economic issues (Prelims Mains Interview) A key lesson learnt by the world during the COVID-19 pandemic has been the importance of creating resilient supply chains that can withstand disruptions and ensure reliability for the global economy. Disruptions in supply chains can be natural or man-made. In Japan’s case, the Great T?hoku Earthquake of 2011, followed by the Tsunami, led to a nuclear disaster

Atmanirbhar Bharat and India’s Recovery

Atmanirbhar Bharat and India’s Recovery While the global economic recovery has been hit by second waves of infections and more stringent lockdowns in several countries, India’s economy is ‘riding against the COVID-19 wave’ with persistent improvements in economic indicators showing a V-shaped recovery. The new year has dawned with the approval of long-awaited COVID-19 vaccine and initiation of vaccination drives in various countries. This gives strength to the opt

Farmer Bills and CAA Protests: Comparison

Farmer Bills and CAA Protests: Comparison After the long silence since 2014, India is now erupting with various collective mobilisations. Last winter, we saw a major movement against the Citizenship (Amendment) Act (CAA) in Shaheen Bagh, and this winter, we witnessed a mobilisation at Delhi’s borders. But though both are against unjust legislation, they have been received differently. What can this difference tell us about political mobilisation and the place of ethics and publ

President Address to Parliament 2021

President’s Address to Parliament 2021 Honourable Members, This joint sitting of Parliament which is being held during the time of the Coronavirus pandemic has great significance. It is the beginning of a new year and a new decade. We will also be entering the 75th year of India’s independence this year. All the Members of Parliament present here today embody the conviction held by every Indian that the toughest of challenges will deter neither us nor India.   Whe

Ashok Dalwai Committee

The government announced to double farm incomes by 2022 in its Union Budget 2016-17. In line with this it appointed an 8-member inter-ministerial committee headed by Ashok Dalwai, to consider major reforms in agriculture sector. It was tasked to prepare a blueprint for transition of farm policies from being production oriented to based on incomes or value addition.

Fertilizer Industry in India

Fertilizer Industry in India CCEA approved the proposal to hike subsidy rates for Phosphorus and Potassium based fertilizers The Cabinet Committee on Economic Affairs has approved the proposal to hike subsidy rates for phosphorus and potassium-based fertilizers by 140% in a bid to provide relief to farmers as the kharif sowing season begins. The estimated additional subsidy burden is around ?14,775 crore, with the Centre emphasising that this is a one-time measure as part of COVID-19

Disinvestment

Disinvestment Disinvestment refers to sale or liquidation of an assets or subsidiary of an organization or government but any condition Govt share should not go below 51%. It is done by Dept of Investment and Public Asset Management (DIPAM), Ministry of Finance from 2016. Industrial Policy Resolution,1956 talks about the growth of the country through PSUs. Hence, from 2nd Five Year Plan we started focusing on PSEs.  Salient Features of Disinves

Plan for India to become Atmanirbhar in Phophatic fertilizers (DAP and NPK)

Plan for India to become Atmanirbhar in Phophatic fertilizers (DAP and NPK) Department of Fertilisers is ready with an Action Plan to make India Aatmanirbhar in Rock Phosphate, the key raw material of DAP and NPK Fertlisers. An Action Plan was chalked out for making India Aatmanirbhar in fertiliser production through indigenous resources. India is going to commercially exploit and ramp up the production in the existing 30 lakh MT of Phosphorite deposits which are available in Rajasth

Cabinet approves strategic disinvestment of IDBI Bank Limited

Cabinet approves strategic disinvestment of IDBI Bank Limited About Disinvestment Disinvestment refers to sale or liquidation of an assets or subsidiary of an organization or government but any condition Govt share should not go below 51%. It is done by Dept of Investment and Public Asset Management (DIPAM), Ministry of Finance from 2016. Industrial Policy Resolution,1956 talks about the growth of the country through PSUs. Hence, from 2nd Five Year Plan

Fertilizer Industry

Fertilizer Industry in India It is 1 of the 8 core industries. Fertilizer has the minimum share in Index of Core Industries. India is the 2nd largest consumer of Urea fertilizers after China. India also ranks 2nd in the production of nitrogenous fertilizers and 3rd in phosphatic fertilizers. Potash requirement is met through imports since we have limited reserves of potash. There are 2 types of Fertilizers Primar

COVID-19 Package Phase II

COVID-19 Package Phase II Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi today has approved a new scheme ‘India COVID-19 Emergency Response & Health System Preparedness Package: Phase-II’ amounting to Rs. 23,123 crore for FY 2021-22 from 01" July 2021 to 31" March 2022 with central and state share as under: Central Share of the ECRP-II –Rs.15,000 crore State Share of the ECRP-II –Rs.8,123 crore This scheme aims to accelerate h

Fertilizer Industry

Fertilizer Industry in India It is 1 of the 8 core industries. Fertilizer has the minimum share in Index of Core Industries. India is the 2nd largest consumer of Urea fertilizers after China. India also ranks 2nd in the production of nitrogenous fertilizers and 3rd in phosphatic fertilizers. Potash requirement is met through imports since we have limited reserves of potash. There are 2 types of Fertilizers Primar

National Monetization Pipeline

In the Union Budget 2021-22, the Finance Minister had announced the National Monetization Pipeline. The National Monetisation Pipeline comprises a four-year pipeline of the Central Government's brownfield infrastructure assets. The Union Finance Minister announced launch of a “National Monetization Pipeline” of potential brownfield infrastructure assets stating that Monetizing operating public infrastructure assets is a very important financing option for new infrastructu

National Monetisation Pipeline: Critical Analysis

Union Budget 2021-22 has identified monetisation of operating public infrastructure assets as a key means for sustainable infrastructure financing. Towards this, the Budget provided for preparation of a ‘National Monetisation Pipeline (NMP)’ of potential brownfield infrastructure assets. NITI Aayog in consultation with infra line ministries has prepared the report on NMP. NMP aims to provide a medium term roadmap of the programme for public asset owners; along with visibility

Atal Pension Yojana

Atal Pension Yojana (APY) addresses the old age income security of the working poor and the longevity risks among the workers in unorganised sector. It encourages the workers in unorganised sector to voluntarily save for their retirement. The Government had launched the scheme with effect from 1st June, 2015. The scheme replaces the Swavalamban Yojana / NPS Lite scheme. Benefits of APY Fixed pension for the subscribers ranging between Rs.1000 to Rs. 5000, if s/he joins and

24th FSDC Meeting

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the 24th meeting of the Financial Stability and Development Council (FSDC) here today. The meeting was attended by (PT Pointers for Banking and State PSC Exams) Dr. Bhagwat Kishanrao Karad, MoS (Finance); Shri Pankaj Chaudhary, MoS (Finance); Shri Shaktikanta Das, Governor, Reserve Bank of India; Dr. T. V. Somanathan, Finance Secretary and Secretary, Department of Expenditure, Ministry

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