02nd June, 2021 – Daily News

Topics covered – “PM-CARES for Children” scheme, 2nd list of 108 defence goods, Organisation for Economic Co-operation and Development, Central Board of Direct Taxes, Confederation of Indian Industry.

Bulletins

  1. PM has launched “PM-CARES for Children” scheme to support children who have lost their parents due to Covid-19.
  2. Ministry of Defence has released the 2nd list of 108 defence goods that will be indigenously produced.
  3. Organisation for Economic Co-operation and Development (OECD) has reduced its growth projection for India for FY22 to 9.9% from 12.6% estimated in March.
  4. Centre has appointed J.B. Mohapatra as the interim chief of the Central Board of Direct Taxes (CBDT) for three months.
  5. Confederation of Indian Industry has elected T V Narendran as its President for 2021-22.

Table of Content

National News

  1. PM has launched “PM-CARES for Children” scheme to support children who have lost their parents due to Covid-19.
      • Under the scheme, following benefits will be provided to the children.
PM-CARES for Children” scheme
A) Fixed Deposit in the name of the child:
• PM CARES will contribute through a specially designed scheme to create a corpus of Rs 10 lakh for each child when he or she reaches 18 years of age. This corpus:
○ Will be used to give a monthly financial support/ stipend from 18 years of age, for the next five years for his or her personal requirements during the period of higher education and
○ On reaching the age of 23 years, he or she will get the corpus amount as one lump-sum for personal and professional use.
B) School Education: For children under 10 years
• The child will be given admission in the nearest Kendriya Vidyalaya or in a private school as a day scholar.
• If the child is admitted in a private school, the fees as per the RTE norms will be given from the PM CARES.
• PM-CARES will also pay for expenditure on uniform, text books and notebooks.
C) School Education: for children between 11-18 years:
• The child will be given admission in any Central Government residential school such as Sainik School, Navodaya Vidyalaya etc.
• In case the child is to be continued under the care of Guardian/ grandparents/ extended family, then he or she will be given admission in the nearest Kendriya Vidyalaya or in a private school as a day scholar.
• If the child is admitted in a private school, the fees as per the RTE norms will be given from the PM CARES.
• PM CARES will also pay for expenditure on uniform, text books and notebooks.
D) Support for Higher Education:
• The child will be assisted in obtaining education loan for Professional courses / Higher Education in India as per the existing Education Loan norms. The interest on this loan will be paid by the PM CARES.
• As an alternative, scholarship equivalent to the tuition fees / course fees for undergraduate/ vocational courses as per Government norms will be provided to such children under Central or State Government Schemes.
• For children who are not eligible under the existing scholarship schemes, PM CARES will provide an equivalent scholarship.
E) Health Insurance:
• All children will be enrolled as a beneficiary under Ayushman Bharat Scheme (PM-JAY) with a health insurance cover of Rs. 5 lakhs.
• The premium amount for these children till the age of 18 years will be paid by PM CARES.
  1. Ministry of Defence has released the 2nd list of 108 defence goods that will be indigenously produced.
      • Presently, these goods are imported. In August 2020, the first such list of 108 items was released.
      • 49 items will be indigenised and imports will be restricted for them w.e.f., December 2021.
      • 21 items will be indigenised and imports will be restricted for them w.e.f., December 2022.
      • 17 items will be indigenised and imports will be restricted for them w.e.f., December 2023.
      • 13 items will be indigenised and imports will be restricted for them w.e.f., December 2024.
      • 8 items will be indigenised and imports will be restricted for them w.e.f., December 2025.
      • Major items that will be indigenised are helicopters, Next Gen Corvettes, Airborne Early Warning and Control System, Tank Engines among other items.

GDP Forecasts

  1. Organisation for Economic Co-operation and Development (OECD) has reduced its growth projection for India for FY22 to 9.9% from 12.6% estimated in March.
      • Global GDP growth will be 5.8% in FY22.

Appointments

  1. Centre has appointed J.B. Mohapatra as the interim chief of the Central Board of Direct Taxes (CBDT) for three months.
  2. Confederation of Indian Industry has elected T V Narendran as its President for 2021-22.
      • Narendran is also the CEO and MD of Tata Steel.
CII President T V Narendran

Start Quiz of 02nd June 2021

Q.1) Which of the following statement is not true about PM CARES for Children scheme?
 Q.2) What is the GDP forecast for India for FY22?
Q.3) Who has been appointed as the interim chief of the Central Board of Direct Taxes?
 Q.4) Who is the President of CII for 2021-22?
 Q.5) How many defence goods will be indigenously produced in India by 2025 as per the 2nd list of Defence Indigenization Goods?
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About Anuj Jindal

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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 4 years of experience in the field of Education.

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