PRODUCTION-LINKED INCENTIVE (PLI) SCHEME
The Union Cabinet has given its approval to introduce the Production-Linked Incentive (PLI) Scheme in the following 10 key sectors for Enhancing India’s Manufacturing Capabilities and Enhancing Exports
Sectors (and Implementing Ministry/Department):
Advance Chemistry Cell (ACC) Battery: NITI Aayog and Department of Heavy Industries.
Electronic/Technology Products: Department of Heavy Industries
Automobiles & Auto Components: Department of Heavy Industries.
Pharmaceuticals drugs: Department of Pharmaceuticals
Telecom & Networking Products: Department of Telecom
Textile Products (MMF segment and technical textiles): Ministry of Textiles
Food Products: Ministry of Food Processing Industries.
High Efficiency Solar PV Modules: Ministry of New and Renewable Energy.
White Goods (ACs & LED): Department for Promotion of Industry and Internal Trade.
Speciality Steel: Ministry of Steel.
Important Info :The above will be in addition to the already notified PLI schemes in the following sectors:
Mobile Manufacturing and Specified Electronic Components: MEITY.
Critical Key Starting materials/Drug Intermediaries and Active Pharmaceutical Ingredients: Department of Pharmaceuticals.
Manufacturing of Medical Devices: Department of Pharmaceuticals
PRESIDENT’s CHAIR OF EXCELLENCE ON NATIONAL SECURITY AT NATIONAL DEFENCE COLLEGE (NDC)
Nov. 12, 2020
President’s Chair of Excellence on National Security at National Defence College (NDC).About:
On the occasion of Diamond Jubilee of NDC, President of India has approved the establishment of “President’s Chair of Excellence on National Security” on 11 Nov 2020 at Rashtrapati Bhawan.
The Chair will not only help in enhancing the intellectual capital of the college but also go a long way in uplifting its credibility and reputation.
The chair will be located at National Defence College, New Delhi and shall be provided all academic, administrative and logistic support.
INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY (BANKING) REGULATIONS, 2020
The International Financial Services Centres Authority (IFSCA), approved the International Financial Services Centres Authority (Banking) Regulations, 2020.
The salient aspects of the Banking Regulations include:
Laying down the requirements for setting up IFSC Banking Units (IBUs)
Permitting persons resident outside India (having net worth not less than USD 1 Million) to open foreign currency accounts in any freely convertible currency at IFSC Banking Units (IBUs)
Permitting persons resident in India (having net worth not less than USD 1 Million) to open foreign currency accounts in any freely convertible currency at IBUs to undertake any transaction under the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India.
Laying down the permissible activities of IBUs including credit enhancement, credit insurance, and sale , purchase of portfolios, engage in factoring and forfaiting of export receivables and undertake equipment leasing, including aircraft leasing
Permitting the Authority to determine business that a Banking Unit may be permitted to conduct in INR with persons resident in India and persons resident outside India, subject to settlement of the financial transaction in relation to such business in freely convertible foreign currency.
The above mentioned regulations will be notified by the Government of India in due course.
OPERATION GREENS – TOP TO TOTAL SCHEME
Under Operation Greens Scheme TOP to TOTAL, 50% transportation subsidy is now made available for air transportation for 41 notified fruits and vegetables from North-Eastern and Himalayan States to any place in India.
About:
Airlines will provide the transport subsidy directly to the supplier/consignor/consignee/ agent by way of charging only 50% of the actual contracted freight charges and will claim the balance 50% from MoFPI as subsidy.
The scheme was approved and the amended Scheme Guidelines were notified on 02.11.2020.
In relaxation of other conditions for Operation Greens – TOP to TOTAL Scheme for transportation through Airlines from eligible airports, all consignment of notified fruits and vegetables irrespective of quantity and price would be eligible for 50% freight subsidy.
The transportation subsidy was earlier extended under Operation Greens Scheme for Kisan Rail Scheme with effect from 12.10.2020. Railways charge only 50% of freight charges on the notified fruits and vegetables.
Eligible airports: All the airports in Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim (Bagdogra), and Tripura from North-East, and Himachal Pradesh, Uttarakhand, and Union Territories of Jammu & Kashmir and Ladakh among the Hilly States.
INTER-MINISTERIAL COMMITTEE TO STRENGTHEN THE CAPITAL GOODS SECTOR
The government has set up a 22-member inter-ministerial committee in strengthening the Capital Goods (CG) Sector to make this sector globally competitive and to become the manufacturing hub for the world.
About: The Committee will look into issues pertaining to the Capital Goods Sector including technology development, mother technology development, global value chains, testing, skill training, global standards, reciprocity issues, custom duties.
The Inter-Ministerial Committee (IMC) under the chairmanship of Secretary of Department Heavy Industries with representation at sufficiently senior level officers from the concerned Ministries/Departments is proposed to meet quarterly.
COLLINS WORD OF THE YEAR
Collins Dictionary has declared “lockdown” as the word of the year, given the rise in the usage of the term in a pandemic-ridden world.
About:
It has defined lockdown as “a security measure in which those inside a building or area are required to remain confined in it for a time” and “the imposition of stringent restrictions on travel, social interaction, and access to public spaces”.
While the word gained traction with the rise of the COVID-19 pandemic, this has certainly not been the first instance that the world has faced a lockdown.
Lockdown 2020: The declaration of COVID-19 as a pandemic by the World Health Organisation (WHO) on March 11 set into motion global restrictions on movement, congregations and travel. China, where the SARS-CoV2 virus first made its appearance, was the first country to enforce lockdown and quarantine measures as early as January.
Important Info :
The Collins English Dictionary is a printed and online dictionary of English. It is published by HarperCollins in Glasgow.
THE SCHEME FOR FINANCIAL SUPPORT TO PPPS IN INFRASTRUCTURE (VIABILITY GAP FUNDING SCHEME)
The Cabinet Committee on Economic Affairs has approved Continuation and Revamping of the Scheme for Financial Support to Public Private Partnerships (PPPs) in Infrastructure Viability Gap Funding (VGF) Scheme till 2024-25 with a total outlay of Rs. 8,100 crore.
About:
Background: The Department of Economic Affairs, Ministry of Finance introduced "the Scheme for Financial Support to PPPs in Infrastructure" (Viability Gap Funding Scheme) in 2006.
The revamped Scheme is mainly related to introduction of following two sub-schemes for mainstreaming private participation in social infrastructure:
Sub scheme–1:
This would cater to Social Sectors such as Waste Water Treatment, Water Supply, Solid Waste Management, Health and Education sectors etc.
The projects eligible under this category should have at least 100% Operational Cost recovery.
The Central Government will provide maximum of 30% of Total Project Cost (TPC) of the project as VGF and State Government/Sponsoring Central Ministry/Statutory Entity may provide additional support up to 30% of TPC.
Sub scheme–2:
This Sub scheme will support demonstration/pilot social sectors projects. The projects may be from Health and Education sectors where there is at least 50% Operational Cost recovery.
In such projects, the Central Government and the State Governments together will provide up to 80% of capital expenditure and upto 50% of Operation & Maintenance (O&M) costs for the first five years.
ACHARYA KRIPALANI
The Prime Minister Narendra Modi has paid tributes to Acharya Kripalani on his Jayanti.
About:
Jivatram Bhagwandas Kripalani (1888 – 1982), popularly known as Acharya Kripalani, was an independence activist, Indian politician and an Educationist.
Educationist:
Kripalani was also well-known for his work in the field of education. From 1912 to 1927, he taught at various places before becoming wholly involved in freedom movement.
He earned the moniker ‘Acharya’ around 1922 when he was teaching at the Gujarat Vidyapith, founded by the Mahatma a couple of years before.
Independence Activist:
He was involved in the organization of Non-Cooperation Movement and the Civil Disobedience movements and Quit India Movement.
He was the President of Indian National Congress (INC) at the time of independence.
He served in the Interim government of India (1946–1947) and the Constituent Assembly of India.
Political Career: Post-independent India
Post-independence, he left the Congress and became one of the founders of the Kisan Mazdoor Praja Party (KMPP). This party subsequently merged with the Socialist Party of India to form the Praja Socialist Party (PSP).
He remained in opposition for the rest of his life and was elected to the Lok Sabha in 1952, 1957, 1963 and 1967 as a member of Praja Socialist Party.
Kripalani moved the first-ever No confidence motion in Lok Sabha in 1963, immediately after the India-China War.
He remained a critic of Nehru's policies and Indira Gandhi’s authoritarian rule. He was arrested during Emergency.
Environmentalist: He along with Vinoba Bhave, was involved in in preservation and conservation activities throughout the 1970s.
Personal life: He was married to Sucheta Kripalani, India’s first woman Chief Minister, who led Uttar Pradesh from 1963 to 1967. She remained in Congress after Independence.
His autobiography ‘My Times’ was released 22 years after his death in 2004.
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