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Type: PIB

  • Capital Markets: Challenges and Developments

    [pib] GoI Floating Rate Bonds

    26 October 2021 | PIBPrelims Only | Economics
    Mains Paper 3: GS3-03.Government Budgeting

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Floating Rate Bonds

    Mains level: Not Much

    The Government of India has announced the Sale (Re-issue) of Floating Rate Bonds, 2028’.

    What are Bonds?

    • Bonds are investment securities where an investor lends money to a company or a government for a set period of time, in exchange for regular interest payments.
    • Generally, bonds come with a fixed coupon or interest rate. For example, you can buy a bond of Rs 10,000 with a coupon rate of 5%.
    • Once the bond reaches maturity, the bond issuer returns the investor’s money.
    • Fixed income is a term often used to describe bonds, since your investment earns fixed payments over the life of the bond.

    Why are bonds launched?

    • Companies sell bonds to finance ongoing operations, new projects or acquisitions.
    • Governments sell bonds for funding purposes, and also to supplement revenue from taxes.

    What are Floating Rate Bonds?

    • A floating rate bond is a debt instrument that does not have a fixed coupon rate, but its interest rate fluctuates based on the benchmark the bond is drawn.
    • Benchmarks are market instruments that influence the overall economy.
    • For example, repo rate or reverse repo rate can be set as benchmarks for a floating rate bond.

    How do floating rate bonds work?

    • Floating rate bonds make up a significant part of the Indian bond market and are majorly issued by the government.
    • For example, the RBI issued a floating rate bond in 2020 with interest payable every six months. After six months, the interest rate is re-fixed by the RBI.

     

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  • Textile Sector – Cotton, Jute, Wool, Silk, Handloom, etc.

    [pib] Amended Technology Up-gradation Fund Scheme

    25 October 2021 | PIB | Economics
    Mains Paper 3: GS3-12.Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: ATUFS

    Mains level: Textile sector of India

    Union Minister of Textiles has reviewed the Amended Technology Up-gradation Fund Scheme (ATUFS) to ease of doing business, bolstering exports & fuelling employment.

    What is ATUFS?

    • The Ministry of Textiles had introduced Technology Upgradation Fund Scheme (TUFS) in 1999.
    • It is a credit linked subsidy scheme intended for modernization and technology up-gradation of the Indian textile industry.
    • It aims at promoting ease of doing business, generating employment and promoting exports. Since then, the scheme has been implemented in different versions.
    • The ongoing ATUFS has been approved in 2016 and implemented through web based iTUFS platform.
    • Capital Investment Subsidy is provided to benchmarked machinery installed by the industry after physical verification.

     

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  • Modern Indian History-Events and Personalities

    [pib] Ramappa – Kakatiya Rudreshwara Temple

    23 October 2021 | PIBPrelims Only | History
    Mains Paper 1: GS1-01.Indian Culture- Salient aspects of Art Forms, Literature and Architecture from ancient to modern times.

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Ramappa Temple, UNESCO Heritage sites

    Mains level: Ancient temple architecture

    The Union Minister for Culture, Tourism has unveiled the UNESCO World Heritage Listing plaque at Ramappa – Kakatiya Rudreshwara Temple in Palampet.

    Rudreswara Temple

    • The Rudreswara temple was constructed in 1213 AD during the reign of the Kakatiya Empire by Recharla Rudra, a general of Kakatiya king Ganapati Deva.
    • It is also known as the Ramappa temple, after the sculptor who executed the work in the temple for 40 years.
    • The main temple is flanked by the collapsed structures of the Kateshwarayya and Kameshwarayya temples in Palampet, about 220 km from Hyderabad.
    • An inscription dates the temple to 1135 Samvat-Saka on the eighth day of Magha (January 12, 1214).
    • It is India’s 39th UNESCO World Heritage Site. (Total 40 in number after Dholavira).

    Its architecture

    • The temple complexes of Kakatiyas have a distinct style, technology, and decoration exhibiting the influence of the Kakatiyan sculptor.
    • The temple stands on a 6 feet high star-shaped platform with walls, pillars, and ceilings adorned with intricate carvings that attest to the unique skill of the Kakatiyan sculptors.
    • The foundation is built with the “sandbox technique”, the flooring is granite, and the pillars are basalt.
    • The lower part of the temple is red sandstone while the white gopuram is built with light bricks that reportedly float on water.
    • European merchants and travelers were mesmerized by the beauty of the temple and one such traveler had remarked that the temple was the “brightest star in the galaxy of medieval temples of the Deccan”.

    Surviving through ages

    • According to the temple priest, some of the iconography on the temple was damaged during the invasion of Malik Kafur in 1310.
    • Treasure hunters vandalized the rest.
    • But the biggest test for the temple was an earthquake in the 17th century (one of the biggest was that of 7.7-8.2-magnitude on June 16, 1819).

    Answer this PYQ in the comment box:

    Q.Which one of the following was a very important seaport in the Kakatiya kingdom? (CSP 2017)

    (a) Kakinada

    (b) Motupalli

    (c) Machilipatnam (Masulipatnam)

    (d) Nelluru

     

    [wpdiscuz-feedback id=”j1r8z6yr20″ question=”Please leave a feedback on this” opened=”1″]Post your answers here.[/wpdiscuz-feedback]

    Back2Basics: UNESCO World Heritage Sites

    • A World Heritage Site is a landmark or area, selected by the UN Educational, Scientific and Cultural Organization (UNESCO) for having cultural, historical, scientific, or other forms of significance, which is legally protected by international treaties.
    • The sites are judged to be important for the collective and preservative interests of humanity.
    • To be selected, a WHS must be an already-classified landmark, unique in some respect as a geographically and historically identifiable place having special cultural or physical significance (such as an ancient ruin or historical structure, building, city, complex, desert, forest, island, lake, monument, mountain, or wilderness area).
    • It may signify a remarkable accomplishment of humanity, and serve as evidence of our intellectual history on the planet.
    • The sites are intended for practical conservation for posterity, which otherwise would be subject to risk from human or animal trespassing, unmonitored/uncontrolled/unrestricted access, or threat from local administrative negligence.
    • The list is maintained by the international World Heritage Program administered by the UNESCO World Heritage Committee, composed of 21 “states parties” that are elected by their General Assembly.

    UNESCO World Heritage Committee

    • The World Heritage Committee selects the sites to be listed as UNESCO World Heritage Sites, including the World Heritage List and the List of World Heritage in Danger.
    • It monitors the state of conservation of the World Heritage properties, defines the use of the World Heritage Fund, and allocates financial assistance upon requests from States Parties.
    • It is composed of 21 states parties that are elected by the General Assembly of States Parties for a four-year term.
    • India is NOT a member of this Committee.

     

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  • Digital India Initiatives

    [pib] Geospatial Energy Map of India

    19 October 2021 | PIB | Economics
    Mains Paper 3: GS3-13.Infrastructure: Energy, Ports, Roads, Airports, Railways etc:

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: GIS Energy Map

    Mains level: Not Much

    The NITI Aayog has launched the Geospatial Energy Map of India.

    What is the GIS Energy Map?

    • NITI Aayog in collaboration with the Indian Space Research Organisation (ISRO) has developed a comprehensive Geographic Information System (GIS) Energy Map of India.
    • The GIS map provides a holistic picture of all energy resources of the country.
    • It enables visualization of energy installations such as conventional power plants, oil and gas wells, petroleum refineries, coal fields and coal blocks.
    • It also provides district-wise data on renewable energy power plants and renewable energy resource potential, etc through 27 thematic layers.

    Significance of the map

    • The map attempts to identify and locate all primary and secondary sources of energy and their transportation/transmission networks.
    • It is a unique effort aimed at integrating energy data scattered across multiple organizations and presenting it in a consolidated, visually appealing graphical manner.
    • It leverages the latest advancements in web-GIS technology and open-source software to make it interactive and user-friendly.

    Benefits offered

    • The map would provide a comprehensive view of energy production and distribution in a country.
    • It will be useful in planning and making investment decisions.
    • It will also aid in disaster management using available energy assets.
    • This may also help in resource and environmental conservation measures, inter-state coordination on infrastructure planning including different corridors of energy and road transport highways.

     

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  • Policy Wise: India’s Power Sector

    [pib] Maharatna status accorded to Power Finance Corporation Ltd (PFC)

    16 October 2021 | PIB | Economics
    Mains Paper 3: GS3-12.Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Central Public Sector Enterprises, Its categories

    Mains level: Profit making CPSEs

    The Centre has accorded ‘Maharatna’ status to the state-owned Power Finance Corporation Ltd (PFC), thus giving PFC greater operational and financial autonomy.

    About PFC Ltd.

    • Power Finance Corporation Ltd. (PFC) is an Indian financial institution under the ownership of Ministry of Power.
    • Established in 1986, it is the financial backbone of Indian Power Sector.
    • PFC is the 8th highest profit making Central Public Sector Enterprise (CPSE) as per the Department of Public Enterprises Survey for FY 2017–18.
    • It is India’s largest NBFC and also India’s largest infrastructure finance company.

    Benefits of Maharatna Status

    • This new status will enable PFC to offer competitive financing for the power sector, which will go a long way in making available affordable & reliable ‘Power For All 24×7’.
    • This will also impart enhanced powers to the PFC Board while taking financial decisions.
    • It can make equity investments to undertake financial joint ventures and wholly-owned subsidiaries and undertake mergers and acquisitions in India and abroad.
    • It can also structure and implement schemes relating to personnel and Human Resource Management and Training.
    • It can also enter into technology Joint Ventures or other strategic alliances among others.

    Back2Basics: Central Public Sector Enterprises

    • The CPSEs are run by the Government under the Department of Public Enterprises of Ministry of Heavy Industries and Public Enterprises.
    • The government grants the status of Navratna, Miniratna and Maharatna to them based upon the profit made by these CPSEs.
    • The Maharatna category has been the most recent one since 2009, other two have been in function since 1997.

     

    Maharatna Navratna Miniratna Category-I Miniratna Category-II
    Eligibility Three years with an average annual net profit of over â‚č2,500 crore

    OR

    Average annual Net worth of â‚č10,000 crore for 3 years

    OR

    Average annual Turnover of â‚č20,000 crore for 3 years

     

    		 A score of 60 (out of 100), based on six parameters which include net profit, net worth, total manpower cost, total cost of production, cost of services, PBDIT (Profit Before Depreciation, Interest and Taxes), capital employed, etc.,

    AND

    A company must first be a Miniratna and have 4 independent directors on its board before it can be made a Navratna

    		 Have made profits continuously for the last three years or earned a net profit of â‚č30 crore or more in one of the three years Have made profits continuously for the last three years and should have a positive net worth.
    Benefits for investment â‚č1,000 crore – â‚č5,000 crore, or free to decide on investments up to 15% of their net worth in a project  

    Up to â‚č1,000 crore or 15% of their net worth on a single project or 30% of their net worth in the whole year

    		 Up to â‚č500 crore or equal to their net worth, whichever is lower Up to â‚č300 crore or up to 50% of their net worth, whichever is lower

     

     

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  • GI(Geographical Indicator) Tags

    Kallakurichi Wood Carvings and Karuppur Kalamkari Paintings get GI tag

    15 October 2021 | PIB | Economics
    Mains Paper 3: Intellectual Property Rights

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Geographical Indication

    Mains level: Not Much

    In Tamil Nadu, the Karuppur kalamkari paintings and the Kallakurichi wood carvings recently received the geographical indication (GI) tags.

    [A] Kallakurichi Wood Carvings

    • The Kallakurichi wood carvings are a unique form of wood carving practiced in Tamil Nadu.
    • It involves the application of ornamentation and designs, derived from traditional styles by the craftsmen.
    • They are mainly practiced in Kallakurichi, Chinnaselam and Thirukkovilur taluks of Kallakurichi district.

    [B] Karuppur Kalamkari Paintings

    • Kalamkari paintings are done on pure cotton cloth, predominantly used in temples for umbrella covers, cylindrical hangings, chariot covers and asmanagiri (false ceiling cloth pieces).
    • Documentary evidence shows that kalamkari paintings evolved under the patronage of Nayaka rulers in the early 17th century.

    Back2Basics: Geographical Indication

    • A GI is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin.
    • Nodal Agency: Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry
    • India, as a member of the World Trade Organization (WTO), enacted the Geographical Indications of Goods (Registration and Protection) Act, 1999 w.e.f. September 2003.
    • GIs have been defined under Article 22 (1) of the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement.
    • GI is granted for a term of 10 years in India. As of today, more than 300 GI tags has been allocated so far in India (*Wikipedia).
    • The tag stands valid for 10 years.

     

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  • Oil and Gas Sector – HELP, Open Acreage Policy, etc.

    [pib] Automated fuelling technology- UFill

    15 October 2021 | PIB | Economics
    Mains Paper 3: GS3-13.Infrastructure: Energy, Ports, Roads, Airports, Railways etc:

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: UFill

    Mains level: NA

    The Bharat Petroleum Corporation Limited (BPCL) has launched an automated fuelling technology -UFill- to ensure that its customers have a better experience at outlets.

    What is UFill?

    • UFill functionality, which has been described as swift, secure and smart, has been launched in 65 cities and will soon be launched across the country.
    • It does not need any app download, and is payment app agnostic.
    • Customer can use any payment app already downloaded on his/her phone.
    • It offers real time QR and voucher code through SMS and is accepted at all BPCL Fuel Stations where the functionality is enabled.

    Key features

    • UFill aims to improve customer’s turn-around time (TAT) at fuel outlet and increase transactional transparency, thereby providing enhanced retail like experience.
    • The technology provides the customer with control of fuelling as well as touch less pre-payment solution.
    • There is no need to check zero before fuelling or final reading, the dispensing unit will automatically dispense the exact quantity of fuel.

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  • Air Pollution

    Mass Emission Standards for E12 AND E15 fuels

    14 October 2021 | PIB | Environment
    Mains Paper 3: GS3-18.Conservation, Environmental Pollution and Degradation, Environmental Impact Assessment.

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Ethanol Blended Petrol (EBP) Programme

    Mains level: Not Much

    The Ministry of Road Transport and Highways (MoRTH) has notified mass emission standards for E 12 (12% Ethanol with Gasoline) and E15 (15% Ethanol 12 with gasoline) fuels.

    What is the news?

    • The ministry has notified test standards for vehicles compliant with ethanol-blended fuel variants E12 and E15.
    • The ministry made it mandatory for all automobile manufacturers to put “clearly visible stickers” on every vehicle informing about its compatibility to the level of ethanol blend (E12, E15, E20).
    • Currently, India is using E10 fuel (petrol blended with 10% ethanol).

    Ethanol Blended Petrol (EBP) Programme

    • Ethanol Blended Petrol (EBP) programme was launched in January, 2003 for supply of 5% ethanol blended Petrol.
    • The programme sought to promote the use of alternative and environment-friendly fuels and to reduce import dependency for energy requirements.
    • OMCs are advised to continue according priority of ethanol from 1) sugarcane juice/sugar/sugar syrup, 2) B-heavy molasses 3) C-heavy molasses and 4) damaged food grains/other sources.
    • At present, this programme has been extended to whole of India except UTs of Andaman Nicobar and Lakshadweep islands with effect from 01st April, 2019 wherein OMCs sell petrol blended with ethanol up to 10%.

    Why ethanol blending?

    • Agricultural waste management: Ethanol blending will solve the problem of agricultural waste as well as sugar rates due to excess production, therefore providing security to sugarcane farmers.
    • Reducing emission: It can help accomplish dual goal of strengthening energy security with low carbon emission.
    • Enhanced participation: It will enable local enterprises and farmers to participate in the energy economy.
    • Reducing import bill: It is another significant benefit. India imports 85% of crude oil.
    • Fuel efficiency: Ethanol blending increases octane number thereby increasing fuel quality in terms of anti-knocking tendency (engine sound)

    Also read:

    [RSTV ARCHIVE] Ethanol Blending: Significance & Road Ahead

     

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  • Fertilizer Sector reforms – NBS, bio-fertilizers, Neem coating, etc.

    [pib] Nutrient Based Subsidy (NBS) for P&K Fertilizers

    13 October 2021 | PIB | Agriculture
    Mains Paper 3: GS3-08.Issues related to direct and indirect farm subsidies and MSP

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: NPK fertilizers, Soil Health Card

    Mains level: Nutrient Based Subsidy (NBS) Scheme

    The Cabinet Committee on Economic Affairs has approved the proposal of the Department of Fertilizers for fixation of Nutrient Based Subsidy Rates for P&K Fertilizers for the year last quarter of the year 2021-22.

    An aspirant from rural agrarian background is quite habitual to hear about NPK 10-26-26, 20-20-0-13 & 12-32-16. They often get to find the plastic gunny bags mentioning this!

    Nutrient Based Subsidy (NBS)

    • The NBS Scheme for fertilizer was initiated in the year 2010 and is being implemented by the Department of Fertilizers.
    • Under the scheme, a fixed amount of subsidy decided on an annual basis is provided on each grade of subsidized P&K fertilizers, except for Urea based on the nutrient content present in them.
    • It is largely for secondary nutrients like N, P, S and K and micronutrients which are very important for crop growth and development.
    • In India, urea is the only controlled fertilizer and is sold at a statutory notified uniform sale price.

    What is NPK?

    • So now that you know what the numbers on fertilizer mean, you need to know why NPK is important to your plants.
    • All plants need nitrogen, phosphorus, and potassium to grow. Without enough of any one of these nutrients, a plant will fail.
    1. Nitrogen (N): It is largely responsible for the growth of leaves on the plant.
    2. Phosphorus (P): It is largely responsible for root growth and flower and fruit development.
    3. Potassium (K): It is a nutrient that helps the overall functions of the plant perform correctly.
    • Knowing the NPK values of fertilizer can help you select one that is appropriate for the type of plant you are growing.

    What NBS provides?

    • Fixing MRP of NPK fertilizers: The scheme allows the manufacturers, marketers, and importers to fix the MRP of the Phosphatic and Potash fertilizers at reasonable levels.
    • Maintaining stock level: The MRP will be decided considering the domestic and international prices of P&K fertilizers, inventory level in the country and the exchange rates.
    • Inflation control: The NBS ensures that an adequate quantity of P&K is made available to the farmers at a statutory controlled price.

    Issues with NBS

    • Leaves urea: Urea which the most widely used, is left-out in the scheme and hence it remains under price control as NBS has been implemented only in other fertilizers.
    • Cost on exchequer: Fertilizer subsidy is the second-biggest subsidy after food subsidy.
    • Costs on Economy and Environment: The NBS policy is not only damaging the fiscal health of the economy but also proving detrimental to the soil health of the country.
    • Black marketing: Subsidised fertilizers is getting diverted to bulk buyers/traders or even non-agricultural users such as plywood and animal feed makers.

    Back2Basics: Soil Health Card (SHC)

    • Soil Health Card (SHC) scheme is promoted by the Department of Agriculture & Co-operation under the Ministry of Agriculture and Farmers’ Welfare.
    • An SHC is meant to give each farmer soil nutrient status of his/her holding and advice him/her on the dosage of fertilizers and also the needed soil amendments, that s/he should apply to maintain soil health in the long run.
    • SHC is a printed report that a farmer will be handed over for each of his holdings.
    • It will be made available once in a cycle of 2 years, which will indicate the status of soil health of a farmer’s holding for that particular period.
    • The SHC given in the next cycle of 2 years will be able to record the changes in the soil health for that subsequent period.

    Parameters of SHC:

    • N, P, K (Macro-nutrients)
    • Sulfur (S) (Secondary- nutrient)
    • Zn, Fe, Cu, Mn, Bo (Micronutrients)
    • pH, EC (Electrical conductivity) , OC (Organic content)

    Try this PYQ:

    The nation-wide ‘Soil Health Card Scheme’ aims at:

    1. expanding the cultivable area under irrigation.
    2. enabling the banks to assess the quantum of loans to be granted to farmers on the basis of soil quality.
    3. checking the overuse of fertilizers in farmlands.

    Which of the above statements is/are correct?

    (a) 1 and 2 only

    (b) 3 only

    (c) 2 and 3 only

    (d) 1, 2 and 3

     

    [wpdiscuz-feedback id=”i15sf2a7rw” question=”Please leave a feedback on this” opened=”1″]Post your answers here.[/wpdiscuz-feedback]

     

     

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  • ISRO Missions and Discoveries

    [pib] Indian Space Association

    12 October 2021 | PIB | Science and Technology
    Mains Paper 3: GS3-12.Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth

    Note4Students

    From UPSC perspective, the following things are important:

    Prelims level: Indian Space Association (ISpA)

    Mains level: Commercial space exploration in India

    The PM has launched the Indian Space Association (ISpA), an industry body consisting of various stakeholders of the Indian space domain.

    Indian Space Association (ISpA)

    • The ISpA is a premier industry association of space and satellite companies, which aspires to be the collective voice of the Indian space industry.
    • It will be headed by retired Lieutenant General AK Bhatt, who will be its Director General.
    • It will target to undertake policy advocacy and engage with all stakeholders in the Indian space domain. It will engage with the government and all its agencies.

    Why is the formation of ISpA significant?

    • Million-dollar industry: Governments across the world have poured millions of dollars to push the envelope in term of exploring the edges of the space.
    • Collaborated research: With time, governments and government agencies collaborated to explore newer planets and galaxies in search of life forms that exist outside Earth.
    • Private players involvement: In the recent past, private sector companies such as Elon Musk’s SpaceX, Richard Branson’s Virgin Galactic, and Jeff Bezos’ Blue Origin have taken the lead in spaceflight.
    • Easing workload on ISRO: Though India too has made significant strides in space exploration over time, state-run ISRO has been at the centre and front of this progress.

    What does ISpA aim to achieve?

    • Supplementing space research: One of the main goals of the organisation is to supplement the government’s efforts towards making India a global leader in commercial space-based excursions.
    • Commercial space exploration: ISpA said it would engage with stakeholders across the ecosystem for the formulation of an enabling policy framework which fulfills the government vision of leading commercial space exploration.
    • Establishing global linkages: ISpA will also work towards building global linkages for the Indian space industry to bring in critical technology and investments into the country to create more high skill jobs.

    Who are the stakeholders in this organisation? How will they contribute?

    • ISpA will be represented by leading domestic and global corporations that have advanced capabilities in space and satellite technologies.
    • It has taken off with several Indian and international companies betting on it as the next frontier to provide high-speed and affordable Internet connectivity to inaccessible areas as well.
    • This includes SpaceX’s StarLink, Sunil Bharti Mittal’s OneWeb, Amazon’s Project Kuiper, US satellite maker Hughes Communications, etc.
    • OneWeb, for example, is building its initial constellation of 648 low-earth orbit satellites and has already put 322 satellites into orbit.

    Why is satellite-based Internet important in India?

    • The expansion of the Internet in India is crucial to the Modi government’s dream of a digital India where a majority of government services are delivered directly to the customer.
    • The government aims to connect all villages and gram panchayats with high-speed Internet over the next 1000 days through BharatNet.
    • However, internet connectivity in hilly areas and far-flung places of Northeast India are still a challenge.
    • To overcome this, industry experts suggest that satellite Internet will be essential for broadband inclusion in remote areas and sparsely populated locations where terrestrial networks have not reached.
    • Satellite communications remain limited to use by corporates and institutions that use it for emergency use, critical trans-continental communications and for connecting to remote areas with no connectivity.

     

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