16th September, 2021 – Daily News

Topics covered – PRASHAD , ‘ATL Space Challenge 2021’, SVAMITVA Scheme, National Health Authority , relief measures for the telecom sector , PLI scheme for Auto industry, PLI scheme for Drones , Shoonya campaign, Mission ‘One Gram Panchayat-One DIGI-Pay Sakhi’ , One District One Product schem, MoU between India and Italy , BRICS Heads of Tax Authorities , 6th edition of ‘Peaceful Mission’ exercise , 21st Council of Heads of State summit , Inspiration4 mission , Kosamba Mercantile Co-operative Bank Ltd , Escorts Agri Machinery , Trade and Development Report 2021, International Road Federation , MNREGA Entitlement Awareness Week , World Lymphoma Awareness Day , 7th Yamin Hazarika Woman of Substance Award,

Bulletins

  1. Union Minister for Tourism, G Kishan Reddy, has sanctioned Rs 200 crores for promoting tourism in the North-Eastern region under the PRASHAD scheme for further development.
  2. NITI Aayog’s Atal Innovation Mission (AIM) has launched ‘ATL Space Challenge 2021’, in collaboration with Indian Space Research Organisation (ISRO) and Central Board of Secondary Education (CBSE).
  3. Union Minister for Panchayati Raj and Rural Development Shri Giriraj Singh has inaugurated a national meet on SVAMITVA Scheme: A Stepping-Stone Towards Upliftment of Rural Economy at SCOPE Convention Centre, SCOPE Complex, New Delhi.
  4. BLS International has partnered with National Health Authority for processing Ayushman Bharat cards under Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
  5. Union Cabinet has approved certain relief measures for the telecom sector in India to help the struggling telecom operators such as Vodafone Idea (Vi) and Bharti Airtel.
  6. Union government has approved PLI scheme for Auto industry.
  7. Union Govt has approved PLI scheme for Drones to address strategic, tactical and operational uses of drone technology.
  8. NITI Aayog, with RMI and RMI India’s support, has launched Shoonya campaign to promote adoption of electric vehicles by commodity delivery segment in the urban areas.
  9. United Nations Development Programme (UNDP), HDFC Bank and the Greater Noida Industrial Development Authority (GNIDA) have signed an agreement to set up a dry waste management facility (of 300 metric tonnes) in Noida.
  10. Jammu and Kashmir administration has launched Mission ‘One Gram Panchayat-One DIGI-Pay Sakhi’ to promote door to door digital banking and financial services in remote areas of the UT.
  11. Assam govt has signed an agreement with SIDBI to promote MSMEs in the state by setting up an innovation fund for promoting One District One Product scheme.
  12. Union Cabinet has approved the MoU between India and Italy in the field of Disaster Risk Reduction and Management.
  13. BRICS Heads of Tax Authorities meeting was held under the chairmanship of Shri Tarun Bajaj, Secretary, Revenue, Government of India, in his capacity as the Head of Tax Authorities in India.
  14. 6th edition of ‘Peaceful Mission’ exercise is being hosted by Russia in the Orenburg Region of South West Russia from 13th to 25th September 2021.
  15. Iran has joined Shanghai Cooperation Group (SCO) as a member during the 21st Council of Heads of State summit of the SCO leaders in Dushanbe, Tajikistan.
  16. SpaceX has launched Inspiration4 mission – world’s first civilian crew mission – into space on a falcon 9 rocket.
  17. World Bank has cut back on Covid-induced poverty estimates by 21 million.
  18. RBI has imposed a monetary penalty of Rs 1 lakh on the Kosamba Mercantile Co-operative Bank Ltd for violation of rules.
  19. Punjab & Sind Bank has formed strategic co-lending alliance with Indiabulls Commercial Credit and Indiabulls Housing Finance (IHFL) for MSME and Priority Sector Housing Loans respectively.
  20. Escorts Agri Machinery and IndusInd Bank have signed an MoU to provide loans at affordable interest rates to the farming community.
  21. UNCTAD has released its Trade and Development Report 2021.
  22. Satish Parekh has been appointed as the president of the India Chapter of the International Road Federation (IRF).
  23. MNREGA Entitlement Awareness Week is observed from 27th August to 2nd September 2021.
  24. World Lymphoma Awareness Day is observed on September 15th.
  25. Namita Gokhale (writer from the North-east) has won 7th Yamin Hazarika Woman of Substance Award.
  26. Aziz Hajini – a noted writer and former secretary of Jammu and Kashmir Academy of Art, Culture and Languages – passed away.
  27. Double Olympic hammer throw gold medallist from Ukraine, Yuriy Sedykh, has passed away.

Table of Content

National News

  1. Union Minister for Tourism, G Kishan Reddy, has sanctioned Rs 200 crores for promoting tourism in the North-Eastern region under the PRASHAD scheme for further development.
      • Pilgrimage Rejuvenation And Spiritual Augmentation Drive (PRASHAD) scheme aims to provide branding and marketing assistance to the northeast region.
      • An MoU between the Ministry of Tourism and Indian Railway Catering and Tourism Corporation (IRCTC) was signed for cooperation in promoting domestic tourism and the development of new tourism products.
  2. NITI Aayog’s Atal Innovation Mission (AIM) has launched ‘ATL Space Challenge 2021’, in collaboration with Indian Space Research Organisation (ISRO) and Central Board of Secondary Education (CBSE).
      • The challenge aims to engage the students of classes 6 to 12 from both ATL (Atal Tinkering Labs) and non-ATL schools to participate in this challenge to solve digital age space technology problems.
      • The challenge has been launched on the occasion of World Space Week 2021 (4th -10th October).
  3. Union Minister for Panchayati Raj and Rural Development Shri Giriraj Singh has inaugurated a national meet on SVAMITVA Scheme: A Stepping-Stone Towards Upliftment of Rural Economy at SCOPE Convention Centre, SCOPE Complex, New Delhi.
      • The Minister also launched the dashboard of SVAMITVA scheme (https://svamitva.nic.in/) for monitoring the implementation of the scheme.
      • All the states are mandated to implement the SVAMITVA scheme before the deadline in 2024.
  4. BLS International has partnered with National Health Authority for processing Ayushman Bharat cards under Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
      • BLS will start processing Ayushman Bharat cards across India for the people to avail healthcare services at any of the empanelled hospitals in their respective regions, effective immediately.
  5. Union Cabinet has approved certain relief measures for the telecom sector in India to help the struggling telecom operators such as Vodafone Idea (Vi) and Bharti Airtel.
      • 9 structural reforms were approved:
Reforms:
A) 100% FDI via automatic route approved
• Earlier, the FDI limit in the telecom sector was 49% and now it has been increased to 100%
B) Four-year moratorium on payment of statutory dues by telcom
• The Cabinet approved a four-year moratorium on payment of the spectrum dues of telecom service providers (TSPs).
• But, the interest on the principle amount under moratorium will be charged.
• After 4-years’ moratorium, still, the company is not able to pay its AGR dues. Then, the Central Govt can covert this debt into equity on its Suo moto cognizance.
C) Rationalisation of Adjusted Gross Revenue (AGR)
• The government has excluded non-telecom revenues from the definition of AGR prospectively.
• Now, the new definition of the AGR will be applicable on telecom companies from present time onwards.
• The telecom companies will have to pay their amount, which has become due till this date.
D) Interest rates rationalized/ penalties removed
• The interest which is compounded monthly on the spectrum usage charges (SUC) will now be compounded annually.
• The interest rate will be lowed, based on SBI’s MCLR + 2% instead of MCLR plus 4%.
• Additionally, the penalty and interest on penalty has been removed.
E) Spectrum tenure hiked to 30 years
• The future spectrum auctions will be done for a period of 30 years instead of the current 20 years.
• The lock-in period for spectrum will be 10 years from the date of purchase.
F) Spectrum sharing made free
• The sharing of spectrum has been made free for telecoms.
G) Fixed calendar for spectrum auction
• Spectrum auctions will be normally held in the last quarter of every financial year.
H) KYC reforms
• App-based self-KYC will be permitted and the e-KYC rate revised to only Re 1.
• Switching from prepaid to postpaid and vice-versa will not require a fresh KYC.
I) Customer Acquisition Forms to be stored digitally
• Paper Customer Acquisition Forms (CAF) will be replaced by digital storage of data. 
  1. Union government has approved PLI scheme for Auto industry.
      • Total Outlay – Rs 26,058 Crores
      • Purpose – To reduce cost of production of Advanced Automotive Technology products in India and to boost investment in the indigenous supply chain of these products.
      • Components to be covered under the scheme
        • Champion OEM Incentive Scheme – ‘sales value linked’ scheme, applicable on Battery Electric Vehicles and Hydrogen Fuel Cell Vehicles of all segments.
        • Champion Incentive Scheme -‘sales value linked’ scheme, applicable on Advanced Automotive Technology components of vehicles
  2. Union Govt has approved PLI scheme for Drones to address strategic, tactical and operational uses of drone technology.
      • Total outlay – Rs 120 crore in 3 years
      • Targets – Investments worth Rs.5000 Crore in three years, increase in eligible sales of Rs.1500 Crore and employment of 10000 jobs.
      • Eligibility – Revenue of only Rs 2 crore (for drones) and Rs 50 lakh (for drone components) for MSMEs and startups to avail this scheme.
  3. NITI Aayog, with RMI and RMI India’s support, has launched Shoonya campaign to promote adoption of electric vehicles by commodity delivery segment in the urban areas.
      • The campaign will also create consumer awareness about the benefits of zero-pollution delivery (EVs).

State News

  1. United Nations Development Programme (UNDP), HDFC Bank and the Greater Noida Industrial Development Authority (GNIDA) have signed an agreement to set up a dry waste management facility (of 300 metric tonnes) in Noida.
      • The material recovery facility (MRF) in Greater Noida will come up at a cost of Rs 3 crore and will be funded by the HDFC bank through its CSR programme Parivartan.
      • The facility has been opened under the plastic waste management programme of UNDP.
      • The UNDP’s plastic waste management programme is aligned with India’s Swachh Bharat (Clean India) Mission, Solid Waste Management Rules 2016, and the Plastic Waste Management (Amendment) Rules 2018.
  2. Jammu and Kashmir administration has launched Mission ‘One Gram Panchayat-One DIGI-Pay Sakhi’ to promote door to door digital banking and financial services in remote areas of the UT.
      • Initially, the DIGI-Pay facility will be provided in 2000 remote villages of the UT.
      • 80 women from Self Help Groups from across Jammu and Kashmir have been selected as DIGI-Pay Sakhis.
  3. Assam govt has signed an agreement with SIDBI to promote MSMEs in the state by setting up an innovation fund for promoting One District One Product scheme.
      • The partnership will promote self-help groups in the state and fill the gap in infrastructure in the state.

Memorandum of Understanding

  1. Union Cabinet has approved the MoU between India and Italy in the field of Disaster Risk Reduction and Management.
      • This MoU was signed in June 2021 by National Disaster Management Authority (NDMA) of India and the Department of Civil Protection of the Presidency of the Council of Ministers of the Italy.
      • The aim is to cooperate, and strengthen the preparation and response to situations of disaster when they arise through new and existing infrastructure systems.

International News

  1. BRICS Heads of Tax Authorities meeting was held under the chairmanship of Shri Tarun Bajaj, Secretary, Revenue, Government of India, in his capacity as the Head of Tax Authorities in India.
      • The broad theme of the meeting was redefining business processes of tax administration amidst challenges posed by COVID-19 and in the digital era.
  2. 6th edition of ‘Peaceful Mission’ exercise is being hosted by Russia in the Orenburg Region of South West Russia from 13th to 25th September 2021.
      • In 2018, India participated for the first time in the 5th edition of the Exercise.
      • The exercise is conducted biennially. It is a SCO’ Multilateral and Joint Counter Terrorism Exercise.
  3. Iran has joined Shanghai Cooperation Group (SCO) as a member during the 21st Council of Heads of State summit of the SCO leaders in Dushanbe, Tajikistan.
      • Until now, Iran was an observer member of the group.
      • Saudi Arabia, Egypt and Qatar also joined SCO as new dialogue partners.
      • The Summit was chaired by Tajikistan President Emomali Rahmon.
Members Observers Dialogue Partners
A. Russia A. Afghanistan A. Azerbaijan
B. China B. Belarus B. Armenia
C. India C. Mongolia C. Turkey
D. Pakistan D. Cambodia
E. Kazakhstan E. Nepal
F. Kyrgyzstan F. Sri Lanka
G. Uzbekistan G. Saudi Arabia
H. Tajikistan H. Egypt
I. Iran I. Qatar
Additional Information:

    • The structure of SCO summit and meeting is as follows: –
structure of SCO summit
    • Last year, India hosted the 19th SCO Council of Heads of Government meeting for the first time, ever since it became a member of SCO.

Upcoming Summits:

    • SCO President in 2022 – Uzbekistan
      • The 22nd SCO Heads of State Council’s meeting (aka SCO Summit 2022) will be hosted by Uzbekistan.
    • 20th SCO Council of Heads of Government’s 2021 meeting will be held in Kazakhstan (dates are yet to be announced).
  1. SpaceX has launched Inspiration4 mission – world’s first civilian crew mission – into space on a falcon 9 rocket.
      • The rocket carried the Crew Dragon capsule, carrying four civilians, into space.
      • This space trip is being sponsored by Jared Isaacman (founder and CEO of Shift4 Payments). Hayley Arceneaux, Chris Sembroski, and Sian Proctor are the other civilians in the capsule.
      • It was an all amateur mission, with no professional astronaut.
  2. World Bank has cut back on Covid-induced poverty estimates by 21 million.
      • World Bank’s Global Economic Prospect (GEP) 2021 had estimated that Covid would push between 119 and 124 million people into extreme poverty around the globe in 2020.

Banking & Economy

  1. RBI has imposed a monetary penalty of Rs 1 lakh on the Kosamba Mercantile Co-operative Bank Ltd for violation of rules.
  2. Punjab & Sind Bank has formed strategic co-lending alliance with Indiabulls Commercial Credit and Indiabulls Housing Finance (IHFL) for MSME and Priority Sector Housing Loans respectively.
      • The co-lending model will improve the flow of credit to the unserved and underserved sector of the economy.
      • The partnership aims to make available funds to the ultimate beneficiary at an affordable cost, considering the lower cost of funds from banks and greater reach of the NBFCs/ HFLs.
  3. Escorts Agri Machinery and IndusInd Bank have signed an MoU to provide loans at affordable interest rates to the farming community.

GDP Forecasts

  1. UNCTAD has released its Trade and Development Report 2021.
      • Title – From Recovery To Resilience: The Development Dimension
      • India’s GDP forecast for 2021-22 – 7.2%
      • India’s GDP forecast for 2022-23 – 6.7%
      • India’s GDP forecast for 2020-21 – (-) 7%
      • As per the report, India is not able to recover fast because of the negative impact of food price inflation on private consumption and the loss of human resource and economic value due to Covid-19.
Trade and Development Report

Appointments

  1. Satish Parekh has been appointed as the president of the India Chapter of the International Road Federation (IRF).
      • Parekh was previously engaged with Ashoka Buildcon as its MD.
  2. About International Road Federation:

      • HQ – Washington DC, USA
      • Establishment – 1948
      • Chairman (2019-2021) – Abdullah A. Al-Mogbel (Kingdom of Saudi Arabia)

Important Days

  1. MNREGA Entitlement Awareness Week is observed from 27th August to 2nd September 2021.
      • The week was celebrated as part of the Azadi Ka Amrit Mahotsav in States/UTs to make workers aware about their rights and entitlements under the MNREGA Act, 2005.
  2. World Lymphoma Awareness Day is observed on September 15th.

Awards

  1. Namita Gokhale (writer from the North-east) has won 7th Yamin Hazarika Woman of Substance Award.
      • Yamin Hazarika was the first female cop of Assam.
      • She is a co-founder and co-director of the Jaipur Literature Festival, Gokhale also mentors Himalayan Echoes and the Kumaon Festival of Literature and the Arts.

Miscellaneous

  1. Aziz Hajini – a noted writer and former secretary of Jammu and Kashmir Academy of Art, Culture and Languages – passed away.
  2. Double Olympic hammer throw gold medallist from Ukraine, Yuriy Sedykh, has passed away.

Start Quiz of 16th September 2021

Q.1) How much FDI is allowed in the telecom sector?
Q.2) How many years’ moratorium has been allowed by central govt on telecom companies for payment of the AGR dues?
Q.3) Which state / UT has launched Mission ‘One Gram Panchayat-One DIGI-Pay Sakhi’?
Q.4) In which city has HDFC Bank set up the dry waste management facility, in collaboration with UNDP, under its CSR programme named Parivartan?
Q.5) With which country has India signed an MoU in the field of Disaster Risk Reduction and Management?
Q.6) Which of the following countries hosted the 6th edition of ‘Peaceful Mission’ exercise?
Q.7) Which of the following is not a new entrant in the Shanghai Cooperation Organization?
Q.8) Which country is the President of Shanghai Cooperation Organization for 2022?
Q.9) What is the GDP forecast for India for the current fiscal year (2021-22), as per the UNCTAD’s Trade and Development Report 2021?
Q.10) Recently, Satish Parekh, who has served as the MD of Ashoka Buildcon, has been appointed as the president of the India Chapter of the International Road Federation (IRF). The global president of the IRF is Abdullah A. Al-Mogbel from the Kingdom of Saudi Arabia. Where is the headquarter of IRF located?
CEO of Anujjindal.in


About Anuj Jindal

━━━━

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.

0 Comments