19th March, 2024

1. Ministry of Heavy Industries, Government of India, has approved a new scheme to promote electric passenger car manufacturing in India.
2. Union government has approved the transfer of ownership of the iconic Air India building in Mumbai to the Maharashtra state government.
3. Bharat Electronics Limited (BEL), a Navratna Public Sector Undertaking under the Ministry of Defence, has secured orders totaling Rs 1,940.35 crore.
4. Ministry of Health and Family Welfare (MoHFW) has launched the National Action Plan for Prevention and Control of Snakebite Envenoming (NAP-SE).
5. Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers (MoCF), has announced the Uniform Code for Pharmaceuticals Marketing Practices (UCPMP) 2024.
6. Ministry of Health and Family Welfare (MoH&FW) has formed a 16-member expert committee to review the implementation of the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
7. Draupadi Murmu, President of India has conducted a three-day state visit to the Republic of Mauritius from the 11th to the 13th of March, 2024.
8. Indian IT services industry is expected to grow in the range of 3-5% in FY25 as per the forecast by credit rating agency ICRA.
9. National Bank for Agriculture and Rural Development (NABARD) is set to launch a ₹1,000-crore fund to support technology-driven agri-startups and rural enterprises.
10. Department of Financial Services (DFS) has instructed Public sector banks (PSBs) to check mis-selling of insurance products.
11. Defence Minister Rajnath Singh has inaugurated ‘Nausena Bhawan‘ the new Headquarters of Indian Navy at Delhi Cantonment in New Delhi.
12. Ministry of Defence has signed Rs 2,890 crore contract with Hindustan Aeronautics Limited to Upgrade 25 Dornier Aircraft of the Indian Navy.
13. GRSE has launched ‘Agray’ and ‘Akshay’, the 5th and 6th ships of the 8 Anti-Submarine Warfare (ASW) Shallow Water Craft (SWC) Project in Kolkata, West Bengal.
14. India and the US have conducted bilateral Tri-Service Humanitarian Assistance and Disaster Relief (HADR) Amphibious Exercise, named Tiger Triumph.
15. US non-profit Environmental Defense Fund (EDF) has launched a new satellite, MethaneSAT, in collaboration with the space company SpaceX.
16. Central Government has planned to procure 400,000 tonnes of tur and 200,000 tonnes of masur dal directly from farmers to boost thinning stocks.
17. National Vaccination Day 2024
18. Global Recycling Day
19. Ordinance Factories Day 2024
20. Sheetal Devi has been named as the National Icon in the PwD category by the Election Commission of India (ECI).

National News

1. New Electric Vehicle (EV) scheme to promote the manufacturing of electric passenger cars.
   • What ? Ministry of Heavy Industries, Government of India, has approved a new scheme to promote electric passenger car manufacturing in India.
   • Key points:
     • Companies are required to invest at least Rs. 4,150 crore (USD 500 million) in India to manufacture electric four-wheelers (e-4W).
     • Foreign companies that meet scheme conditions can import up to 8,000 electric passenger cars annually at a reduced import duty of 15% for 5 years.
     • Imported electric cars must have a minimum cost, insurance and freight (CIF) price of USD 35,000.
     • A customs duty of 70-100% applies to cars imported as completely built units (CBUs), whether valued at less or more than USD 40,000.
     • Manufacturing facilities must begin operations within 3 years of MHI approval and must achieve a minimum domestic value addition of 25% within 3 years and 50% within 5 years.
     • The import duty reduction is limited to the amount invested or Rs. 6,484 crore, whichever is lower, and must be backed by a bank guarantee.
       Source: PIB
2. Centre approves transfer of Air India building to Maharashtra govt for ₹1,601 cr.
   • What ? Union government has approved the transfer of ownership of the iconic Air India building in Mumbai to the Maharashtra state government.
   • Key points:
     • The transfer will require a payment of Rs.1,601 crore, as well as a waiver of old dues amounting to roughly Rs.300 crore.
     • Secretary of the Department of Investment and Public Asset Management (DIPAM) has confirmed the transfer’s approval.
     • Maharashtra government has agreed to waive dues of Rs.298.42 crore, payable by AI Assets Holding Ltd (AIAHL) as part of this transaction.
     • AIAHL is a Special Purpose Vehicle (SPV) established to own and manage the remaining non-core assets of Air India, which has been sold to the Tata group.

3. Bharat Electronics Limited (BEL) has secured orders totaling Rs 1,940.35 crore.
   • What ? Bharat Electronics Limited (BEL), a Navratna Public Sector Undertaking under the Ministry of Defence, has secured orders totaling Rs 1,940.35 crore.
   • Key points:
     • BEL cumulative orders for the fiscal year 2023-2024 now amount to Rs 32,716.33 crore.
     • A contract worth Rs 847 crore was secured in partnership with Larsen & Toubro (L&T) to supply 14 advanced Communication and Electronic Warfare (EW) sensors and systems for three Cadet Training Ships of the Indian Navy.
     • BEL has also secured orders worth Rs 1,092.65 crore for the supply of Line Replaceable Units (LRUs) for T-70 & T-90 Tanks, Communication Systems for the Indian Navy, and other spares and services.
       Source: BS
4. National Action Plan for Prevention and Control of Snakebite Envenoming (NAP-SE).
   • What ? Ministry of Health and Family Welfare (MoHFW) has launched the National Action Plan for Prevention and Control of Snakebite Envenoming (NAP-SE).
   • Objective:
     • To reduce snakebite deaths by half by 2030
   • Key points:
     • Snakebite envenoming is a potentially fatal condition, accounting for approximately 50,000 deaths per year in India, which comprises half of the global snakebite fatalities.
     • Despite this substantial burden, many incidents go unreported, with an estimated 3-4 million cases occurring annually.
     • The ‘big four‘ snakes: common krait, Indian cobra, Russell’s viper, and saw-scaled viper are responsible for 90% of snakebite incidents.
     • The framework encompasses components for human, wildlife, tribal, and animal health.
     • Stakeholders at all levels will undertake activities under these components, demonstrating a comprehensive approach to snakebite prevention and control.
       Source: PIB

5. Uniform Code for Pharmaceuticals Marketing Practices (UCPMP) 2024.
   • What ? Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers (MoCF), has announced the Uniform Code for Pharmaceuticals Marketing Practices (UCPMP) 2024.
   • Objective:
     • To counter unethical practices in the pharmaceutical sector
   • Key points:
     • It prohibits pharmaceutical companies from offering gifts or travel facilities to healthcare professionals or their families and bans the supply of free samples to those not qualified to prescribe the product.
     • It also applies to medical device manufacturers.
     • It regulates the conduct of Medical Representatives (MRs), brand reminders, free samples, Continuing Medical Education (CME), and relationships with Healthcare Professionals (HCPs).
     • Companies can provide travel funding for healthcare professionals only if they are speaking at conferences.
     • It also prohibits supplying samples of certain drugs ( such as hypnotics, sedatives, and tranquilizers).
     • It also prohibits using “new” to describe drugs available for over a year.
       Source: pc.gov.in
6. Constitution of the expert committee to review the implementation of the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
   • What ? Ministry of Health and Family Welfare (MoH&FW) has formed a 16-member expert committee to review the implementation of the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY).
   • More about committee:
     • Head of committee: Vinod Kumar Paul, Member (Health) at NITI Aayog
     • Other committee members include officials from MoH&FW, CEO of National Health Authority (NHA), and representatives from private entities like Apollo Hospitals and Yashoda Super Speciality Hospitals.
     • The committee is mandated to submit its report within 45 days of its constitution.
   • Tasks of the Committee:
     • Reviewing the roles of central and state governments in AB-PMJAY implementation.
     • Analyzing progress in beneficiary identification, hospitalization, equity in healthcare access, scheme awareness, cost savings, and private sector participation.
     • Examining different implementation models (trust, insurance, hybrid) for executing the program.
     • Recommending measures to prevent misuse of the scheme and linking AB-PMJAY with Ayushman Bharat Digital Mission (ABDM) and Ayushman Arogya Mandirs (AAMs).

Source: BS

International News

1. President Droupadi Murmu visited Mauritius from 11th to 13th March 2024.
   • What ? Draupadi Murmu, President of India has conducted a three-day state visit to the Republic of Mauritius from the 11th to the 13th of March, 2024.
   • Key points:
     • This was her 1st state visit to Mauritius during which she held discussions with Prime Minister of Mauritius, Pravind Kumar Jugnauth and President of Mauritius, Prithvirajsing Roopun.
     • Discussions focused on enhancing the bilateral relationship between India and Mauritius.
     • She has been honored with the esteemed Honorary Degree of Doctor of Civil Law by the University of Mauritius.
     • She has participated as the Chief Guest at the 56th Mauritius National Day celebrations and became 6th Indian president to attend the Mauritian National Day as the chief guest since 2000.
   • Important announcements and projects:
     • President has announced the decision of Indian Government to extend OCI eligibility to 7th-generation Indian-origin Mauritians.
     • She has pledged support for the redevelopment of the sacred Ganga Talao complex.
     • She has jointly inaugurated 14 Small Development India-Assisted Projects, showcasing the collaborative efforts in infrastructure development.
     • She has laid the foundation stone for the New Forensic Science Laboratory of Mauritius, a testament to bilateral cooperation in enhancing security measures.

Source: IE

Banking and Economy

1. ICRA forecasts Indian IT service industry growth at 3-5% in FY25.
   • What ? Indian IT services industry is expected to grow in the range of 3-5% in FY25 as per the forecast by credit rating agency ICRA.
   • Key observations:
     • Operating profit margins for the sector are expected to remain healthy at around 21-22% in FY25 (2024-25).
     • Banking, financial services, and insurance (BFSI) and telecom segments have contracted more compared to others.
     • The industry is expected to witness modest revenue growth of 2% in the first three-quarters of FY24.
       Source: BS

2. NABARD to launch ₹1000-crore blended fund for agri-startups.
   • What ? National Bank for Agriculture and Rural Development (NABARD) is set to launch a ₹1,000-crore fund to support technology-driven agri-startups and rural enterprises.
   • Objective:
     • To finance startups in agriculture and rural enterprises relevant to the farm produce value chain.
   • Key points:
     • The fund will support startups that are struggling to scale up their operations due to limited access to equity and debt instruments.
     • Its goal is to foster encourage connections in the rural ecosystem, both upstream and downstream.
     • Startups are urged to concentrate on the essential technology or machinery needed for agricultural activities.
   • Financial Allocation:
     • A ₹750 crore fund has already been set up, followed by another ₹1,000 crore.
     • An additional ₹750 crore will be allocated for pre-seed investments to support new ideas.

3. Public sector banks (PSBs) have been instructed to check mis-selling of insurance products.
   • What ? Department of Financial Services (DFS) has instructed Public sector banks (PSBs) to check mis-selling of insurance products.
   • Key points:
     • Department of Financial Services has received complaints about fraudulent and unethical practices adopted by banks and life insurance companies to procure policies from bank customers.
     • Banks have been sensitized on the matter to address the concerns raised regarding mis-selling.
     • Regular communication and guidance are provided to ensure banks prioritize the interest of their account holders.

Source: BS

Defence News

1. Inauguration of ‘Nausena Bhawan’.
   • What ? Defence Minister Rajnath Singh has inaugurated ‘Nausena Bhawan‘ the new Headquarters of Indian Navy at Delhi Cantonment in New Delhi.
   • Key points:
     • It is the 1st independent headquarters building of the Indian Navy.
     • It consists of 3 wings across 4 stories and is Equipped with a state-of-the-art integrated building management system.
     • It has achieved Green Rating IV under integrated habitability assessment.
       Source: ET
2. Contract between Ministry of Defence and Hindustan Aeronautics Limited.
   • What ? Ministry of Defence has signed Rs 2,890 crore contract with Hindustan Aeronautics Limited to Upgrade 25 Dornier Aircraft of the Indian Navy.
   • Key points:
     • Under this Mid Life Upgrade (MLU) will be done of 25 Dornier Aircraft belonging to the Indian Navy.
     • It is aimed at enhancing operational capabilities for missions like maritime surveillance, coastal patrol, electronic intelligence gathering, and maritime domain awareness.

4. Launch of ‘Agray’ and ‘Akshay’ by Garden Reach Shipbuilders & Engineers (GRSE) for the Indian Navy.
   • What ? GRSE has launched ‘Agray’ and ‘Akshay’, the 5th and 6th ships of the 8 Anti-Submarine Warfare (ASW) Shallow Water Craft (SWC) Project in Kolkata, West Bengal.
   • More about About ‘Agray’ and ‘Akshay’:
     • These ships are designed for anti-submarine operations in coastal waters, Low-Intensity Maritime Operations (LIMO), and Mine Laying Operations.
     • ‘Agray’ and ‘Akshay’ are part of the eight ASW SWC ships project, along with Arnala, Androth, Anjadip, and Amini.
     • Over 80% of the content used to manufacture these ships is indigenous, contributing to domestic defense production and employment.
       Source: PIB
5. Exercise Tiger Triumph 2024.
   • What ? India and the US have conducted bilateral Tri-Service Humanitarian Assistance and Disaster Relief (HADR) Amphibious Exercise, named Tiger Triumph.
   • Objective:
     • To improve interoperability and cooperation between the armed forces of India and the US in disaster relief operations.
   • Key points:
     • The Harbour Phase of the exercise is being conducted in Visakhapatnam from March 18 to March 25, 2024.
     • The Sea Phase of the exercise will take place from March 26 to March 31, 2024.
     • Indian Navy’s units include a Landing Platform Dock, Landing Ship Tanks, guided missile Frigate, Long Range Maritime Reconnaissance Aircraft, and helicopters.
     • Indian Army will be represented by an infantry battalion group including mechanized forces.
     • Indian Air Force will deploy medium lift aircraft, transport helicopters, and a Rapid Action Medical Team (RAMT).
       Source: PIB

Science and Tech

1. SpaceX has launched the MethaneSAT satellite into orbit.
   • What ? US non-profit Environmental Defense Fund (EDF) has launched a new satellite, MethaneSAT, in collaboration with the space company SpaceX.
   • Objective:
     • To monitor methane emissions from oil and gas projects
   • Key points:
     • MethaneSAT will provide almost real-time data on methane leaks from the oil and gas sector.
     • This data will be accessible to companies, regulators, and the public, allowing them to track emissions and assess compliance with targets and obligations.
       Source: skynews

Agriculture and Rural Development

1. Govt to procure tur, masur dal from farmers to boost thinning buffers.
   • What ? Central Government has planned to procure 400,000 tonnes of tur and 200,000 tonnes of masur dal directly from farmers to boost thinning stocks.
   • Key points:
     • Procurement will occur at either the minimum assured procurement price (MAPP) or dynamic buffer procurement price (DBPP), depending on which is higher.
     • The National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumers’ Federation of India Limited (NCCF) will procure these pulses directly from pre-registered farmers.
     • Union Cooperation Minister Amit Shah launched a multilingual electronic portal, https://esamridhi.in, in January for farmers to sell tur dal to government procurement agencies.

Source: livemint

Important Days

1. March 16– National Vaccination Day 2024; Theme– Vaccines Work For All
   Source: cnbc
2. March 18– Global Recycling Day; Theme– RecyclingHeroes
   Source: grd
3. March 18– Ordinance Factories Day 2024

Appointments

1. Sheetal Devi named National Icon in PwD category by ECI.
   • What ? Sheetal Devi has been named as the National Icon in the PwD category by the Election Commission of India (ECI).
   • Key points:
     • Sheetal Devi is an Indian para-archer and 2023 Arjuna Awardee.
     • Announcement made at an Exhibition Cricket event organized by ECI in collaboration with the Board of Control for Cricket in India (BCCI) in New Delhi

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