07th September, 2021 – Daily News

Topics covered – India’s first Dugong Conservation Reserve , 6th Eastern Economic Forum , Production-Linked Incentive Scheme for Textile sector , Vatan Prem Yojana’ , American Chamber of Commerce , Asian Development Bank , Singapore-India Maritime Bilateral Exercise , International Legal Assistance Consortium , Samagra Shiksha Abhiyan , International Day of Charity , Behler Turtle Conservation Award 2021, F1 Dutch Grand Prix., ‘Bullets Over Bombay’ book

Bulletins

  1. India’s first Dugong Conservation Reserve will be set up in the Palk Bay on the southeast coast of Tamil Nadu.
  2. 6th Eastern Economic Forum was held between India and Russia at Vladivostok.
  3. Central govt has launched the Production-Linked Incentive Scheme for Textile sector to transform India into a manufacturing hub for textiles.
  4. Gujarat govt has launched ‘Vatan Prem Yojana’ for encouraging NRIs of Gujarati origins to donate funds in the development projects in their native villages.
  5. Punjab government and the American Chamber of Commerce (Amcham) in India have signed an MoU to promote investment in the state and increase the ease of doing business for US member companies.
  6. Asian Development Bank (ADB) has approved a 150 million dollar loan to provide access to inclusive, resilient and sustainable housing for the urban poor in Tamil Nadu.
  7. 28th edition of Singapore-India Maritime Bilateral Exercise (SIMBEX) has been recently concluded at the South China Sea.
  8. Prashant Kumar (President of Bar Association of India) has been elected to the Board of Directors of International Legal Assistance Consortium (ILAC).
  9. Boxer Lovlina Borgohain has been appointed as the brand ambassador of the Samagra Shiksha Abhiyan of Assam.
  10. International Day of Charity is observed on September 5 by UN.
  11. Indian biologist Shailendra Singh has been awarded the Behler Turtle Conservation Award 2021 for bringing three critically endangered turtle conservation species back from the brink of extinction.
  12. Max Verstappen has won the F1 Dutch Grand Prix.
  13. ‘Bullets Over Bombay’ book has been authored by Uday Bhatia.

Table of Content

National News

  1. India’s first Dugong Conservation Reserve will be set up in the Palk Bay on the southeast coast of Tamil Nadu.
      • Dugong is also known as sea cow. It is an endangered marine mammal that is facing extinction due to habitat loss, sea pollution, and loss of seagrass.
      • In Tamil Nadu, Dugong is found in Gulf of Mannar, and at Palk Bay. The reserve will cover both of these regions.
      • The conserve will cover an area of 500 Kms.
      • Dugong is a sea mammal and the only living species of the order Sirenia. It is restricted to coastal habitat due to sea grass, which forms major part of its diet.
Dugong Conservation Reserve
  1. 6th Eastern Economic Forum was held between India and Russia at Vladivostok.
      • Theme – Opportunities for Far East in a World Under Transformation
      • Indian delegation was led by Hardeep Singh Puri, Minister of Petroleum and Natural Gas.
      • At the forum, ONGC Videsh Ltd and Indian Oil Corporation signed an MoU with Russia’s Gazprom for cooperation in the hydrocarbon sector.
      • The EEF was established in 2015. It takes place in Vladivostok every year.
  2. Central govt has launched the Production-Linked Incentive Scheme for Textile sector to transform India into a manufacturing hub for textiles.
      • Tenure – 5 years
      • Outlay – The Central government will offer incentives worth Rs 10,683 crore to firms manufacturing textiles locally.
      • Expected Investments – The Centre is aiming to attract investments to the tune of Rs 19,000 crore in the coming years.
      • Expected turnover of textile industry – Rs 3 lakh crore over five years.
      • Expected employment generation – over 7.5 lakh
      • Focus areas – improve production in aspirational districts or Tier-3 and Tier-4 cities.
        • The textile PLI scheme will promote the manufacturing of high-value Man-Made Fibre (MMF) fabrics, garments and technical textiles in the country.
        • The aim is to increase the share of man-made fibre in textile production, which is currently less than 3%, in India.
      • The incentives will be rolled out in two phases.
      • Minimum eligibility requirement – An individual firm needs to invest a minimum of Rs 300 crore in the manufacturing of MMF fabrics or technical textiles to become eligible for incentives under the first phase of the scheme.
        • In the first phase, these firms need to garner a profit of Rs 600 crores before becoming eligible to receive the incentive over a five-year period.
        • In the second phase, the amount of investment, needed from a firm, would be Rs 100 crores. The firms need to take their turnover to Rs 200 crores to become eligible for the scheme.
        • The investment should be made towards plant, machinery, equipment and civil works (excluding land and administrative building cost).
      • Number of targeted products – 64 items have been chosen, which are divided into –
        • 40 MMF apparel product lines, 14 MMF fabric lines and 10 segments or products of technical textiles (such as fire fighter clothing bulletproof vests, spacesuits etc.).
        • All these products have a high demand in the international market but India’s share is less than 5% in each of them in the global market.

State News

  1. Gujarat govt has launched ‘Vatan Prem Yojana’ for encouraging NRIs of Gujarati origins to donate funds in the development projects in their native villages.
      • NRIs are encouraged to donate 60% of the project fund whereas the state govt will contribute the rest 40% in the development project.
      • Through the project, the state govt aims to create development projects worth ₹1000 crore by December 2022.
  2. Punjab government and the American Chamber of Commerce (Amcham) in India have signed an MoU to promote investment in the state and increase the ease of doing business for US member companies.
      • This is the first-of-its-kind MoU that Amcham India signed with any Indian state.
      • Both organizations will form a joint working group (JWG), which will include members from Invest Punjab and the American trade body.
  3. Asian Development Bank (ADB) has approved a 150 million dollar loan to provide access to inclusive, resilient and sustainable housing for the urban poor in Tamil Nadu.

Defence News

  1. 28th edition of Singapore-India Maritime Bilateral Exercise (SIMBEX) has been recently concluded at the South China Sea.
      • Initiated in 1994, SIMBEX is the Indian Navy’s longest uninterrupted bilateral maritime exercise with any foreign navy.
      • Both navies can use each other’s Maritime Information Fusion Centres and have also recently signed an agreement on mutual submarine rescue support and coordination.
      • India’s Maritime Information Fusion Centre is located at Gurugram, Haryana.

Appointments

  1. Prashant Kumar (President of Bar Association of India) has been elected to the Board of Directors of International Legal Assistance Consortium (ILAC).
      • ILAC HQ – Stockholm, Sweden
  2. Boxer Lovlina Borgohain has been appointed as the brand ambassador of the Samagra Shiksha Abhiyan of Assam.

Important Days

  1. International Day of Charity is observed on September 5 by UN.
      • Theme – Global Solidarity to Eradicate Poverty
      • September 5 is the death anniversary of Mother Teresa. She was born on 26 August 1910.
Mother Teresa

Awards

  1. Indian biologist Shailendra Singh has been awarded the Behler Turtle Conservation Award 2021 for bringing three critically endangered turtle conservation species back from the brink of extinction.
      • There are 29 species of freshwater turtles and tortoises in India.
      • The three species are: –
        • The Northern River Terrapin (Batagur baska) is being conserved at the Sunderbans;
        • The Red-crowned Roofed Turtle (Batagur kachuga) at Chambal;
        • The Black Softshell Turtle (Nilssonia nigricans) at different temples in Assam.
      • The award, also referred to as the “Nobel Prize” of Turtle Conservation, was instituted in 2006 for encouraging the conservation of tortoise and turtles.
      • Turtle Survival Alliance (TSA), IUCN Tortoise and Freshwater Turtle Specialist Group, Turtle Conservancy, and Turtle Conservation Fund co-present this award.

Sports

  1. Max Verstappen has won the F1 Dutch Grand Prix.

Miscellaneous

  1. ‘Bullets Over Bombay’ book has been authored by Uday Bhatia.

Start Quiz of 07th September 2021

Q.1) Where will India’s first Dugong Conservation Reserve be established?
Q.2) Recently, the 6th Eastern Economic Forum was held between India and Russia at Vladivostok. The EEF is a platform for the discussion of key issues in the world economy, regional integration, and the development of new industrial and technological sectors, as well as of the global challenges facing Russia and other nations. The forum was established in 2015. Since then, it has been held every year. This year, it was held under the theme of Opportunities for Far East in a World Under Transformation. At the forum, Indian companies - ONGC Videsh Ltd and Indian Oil Corporation - signed an MoU with a Russian company for cooperation in the hydrocarbon sector. Identify the second party to this MOU?
Q.3) Which state has launched ‘Vatan Prem Yojana’ for gathering funds for its development projects?
Q.4) When was the first edition of the Singapore-India Maritime Bilateral Exercise held?
Q.5) On whose death anniversary is the International Day of Charity observed?
Q.6) Who has won the Behler Turtle Conservation Award 2021?
Q.7) What is the minimum investment requirement for firms in the Phase 1 of the PLI scheme for Textiles?
Q.8) With which state has American Chamber of Commerce (Amcham) in India signed an MoU to promote investment in the state?
Q.9) Who among the following has been elected to the Board of Directors of International Legal Assistance Consortium from India?
Q.10) Who is the author of ‘Bullets Over Bombay’ book?
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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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