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Type: PIB

  • [pib] Rewa Solar Project

    The PM has inaugurated the 750 MW Solar Project set up at Rewa, Madhya Pradesh.

    Try this question from CSP 2017:

    Q. The term ‘Domestic Content Requirement’ is sometimes seen in the news with reference to-

    (a) Developing solar power production in our country

    (b) Granting licences to foreign T.V. channels in our country

    (c) Exporting our food products to other countries

    (d) Permitting foreign educational institutions to set up their campuses in our country

    Rewa Solar Project

    • This project comprises of three solar generating units of 250 MW each located on a 500-hectare plot of land situated inside a Solar Park (total area 1500 hectare).
    • The Solar Park was developed by the Rewa Ultra Mega Solar Limited (RUMSL), a Joint Venture Company of Madhya Pradesh Urja Vikas Nigam Limited (MPUVN), and Solar Energy Corporation of India (SECI), a PSU.
    • The Project was the first solar project in the country to break the grid parity barrier.
    • This project will reduce carbon emission equivalent to approx. 15 lakh ton of CO2 per year.

    Tariff management

    • Compared to prevailing solar project tariffs of approx. Rs. 4.50/unit in early 2017, the Rewa project achieved historic results.
    • It has a first-year tariff of Rs. 2.97/unit with a tariff escalation of Rs. 0.05/unit over 15 years and a levelized rate of Rs. 3.30/unit over the term of 25 years.

    Significance of the project

    • The project is also the first renewable energy project to supply to an institutional customer outside the State.
    • The Delhi Metro will get 24% of energy from the project with the remaining 76% being supplied to the State DISCOMs of Madhya Pradesh.
    • The Project also exemplifies India’s commitment to attaining the target of 175 GW of installed renewable energy capacity by the year 2022; including 100 GW of solar installed capacity.

  • [pib] Affordable Rental Housing Complexes (AHRCs) for Urban Migrants / Poor

    The Union Cabinet has given its approval for developing of Affordable Rental Housing Complexes (AHRCs). for urban migrants  / poor.

    Try this question from CSP 2015:

    “Pradhan Mantri Jan-Dhan Yojna’ has been launched for

    (a) Providing housing loan to poor people at cheaper interest rates

    (b) Promoting women’s Self-Help Groups in backward areas

    (c) Promoting financial inclusion in the country

    (d) Providing financial help to the marginalized communities

    AHRC

    • It is a sub-scheme under PM Awas Yojana – Urban.
    • Under the scheme, existing vacant government-funded housing complexes will be converted in ARHCs through Concession Agreements for 25 years.
    • The concessionaire will make the complexes livable by repair/retrofit and maintenance of rooms and filling up infrastructure gaps like water, sewer/ septage, sanitation, road etc.
    • States/UTs will select concessionaire through transparent bidding.
    • Complexes will revert to ULB after 25 years to restart next cycle like earlier or run on their own.

    Beneficiaries of the scheme

    • A large part of the workforce in manufacturing industries, service providers in hospitality, health, domestic/commercial establishments, and construction or other sectors, labourers, students etc. who come from rural areas or small towns seeking better opportunities will be the target beneficiary under ARHCs.

    Benefits of AHRCs

    • Usually, these migrants live in slums, informal/ unauthorized colonies or peri-urban areas to save rental charges.
    • They spend a lot of time on roads by walking/ cycling to workplaces, risking their lives to cut on the expenses.
    • ARHCs will create a new ecosystem in urban areas making housing available at affordable rent close to the place of work.
    • Investment under ARHCs is expected to create new job opportunities.
    • ARHCs will cut down unnecessary travel, congestion and pollution.

    Back2Basics: Pradhan Mantri Awas Yojana (PMAY)

    PMAY-Urban

    The PMAY- Urban Programme launched by the Ministry of Housing and Urban Poverty Alleviation (MoHUPA), in Mission mode envisions provision of Housing for All by 2022. The Mission seeks to address the housing requirement of urban poor including slum dwellers through following programme verticals:

    • Slum rehabilitation of Slum Dwellers with participation of private developers using land as a resource
    • Promotion of Affordable Housing for weaker section through credit linked subsidy
    • Affordable Housing in Partnership with Public & Private sectors
    • Subsidy for beneficiary-led individual house construction /enhancement.

    PMAY-Rural

    • In pursuance to the goal – Housing for all by 2022, the rural housing scheme Indira Awas Yojana has been revamped to Pradhan Mantri Awaas Yojana – Gramin and approved during March 2016.
    • Under the scheme, financial assistance is provided for construction of a pucca house to all houseless and households living in dilapidated houses.
    • It is proposed that one crore households would be provided assistance for construction of pucca house under the project during the period from 2016-17 to 2018-19.
    • The scheme would be implemented in rural areas throughout India except for Delhi and Chandigarh. The cost of houses would be shared between the Centre and States.

  • [pib] Central Sector Scheme: Agriculture Infrastructure Fund

    The Union Cabinet has given its approval to a new pan India Central Sector Scheme-Agriculture Infrastructure Fund (CSS-AIF).

    Try this question from CSP 2018:

    Q.Increase in absolute and per capita real GNP does not connote a higher level of economic development, if:

    (a) Industrial output fails to keep pace with agriculture output.

    (b) Agriculture output fails to keep pace with industrial output.

    (c) Poverty and unemployment increase.

    (d) Imports grow faster than exports.

    Agriculture Infrastructure Fund

    • AIF aims to provide a medium – long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through interest subvention and financial support.
    • Under the scheme, Rs. One Lakh Crore will be provided by banks and financial institutions as loans.
    • The beneficiaries will include Primary Agricultural Credit Societies (PACS), Marketing Cooperative Societies, Farmer Producers Organizations (FPOs), SHGs, Farmers etc among others.
    • The moratorium for repayment under this financing facility may vary subject to a minimum of 6 months and maximum of 2 years.

    Management of AIF

    • Agri Infra fund will be managed and monitored through an online Management Information System (MIS) platform.
    • The National, State and District level Monitoring Committees will be set up to ensure real-time monitoring and effective feedback.
    • The duration of the Scheme shall be from FY2020 to FY2029 (10 years).

    Benefits of the scheme

    • The Project by way of facilitating formal credit to farm and farm processing-based activities is expected to create numerous job opportunities in rural areas.
    • It will enable all the qualified entities to apply for a loan under the fund.

  • [pib] Pradhan Mantri Garib Kalyan Anna Yojana

    The Union Cabinet has approved the extension of Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) as part of Economic Response to COVID-19, for another five months from July to November 2020.

    Practice question for mains:

    Q.Discuss how the Pradhan Mantri Garib Kalyan Anna Yojana has helped to ensure food security to the vulnerable sections of India during the Covid-19 induced lockdown period.

    PM- Garib Kalyan Anna Yojana

    • Under the scheme it is proposed to distribute 9.7 Lakh MT cleaned whole Chana to States/UTs for distribution to all beneficiary households under the National Food Security Act, 2013 (NFSA).
    • Thus it would 1kg per month free of cost under for the next five months -July to November 2020.
    • All expenses on the extended PMGKAY are to be borne by the Central Government.
    • About 19.4 crore households would be covered under the Scheme.

    Benefits of the scheme

    • Extension of the scheme is in line with the commitments of the GOI to allow anybody, especially any poor family, to suffer on account of non-availability of food grains due to disruption during next five months.
    • Free distribution of whole Chana will also ensure adequate availability of protein to all the above-mentioned individuals during these five months.

  • Explaining Lithium increase in the Universe

    In a study recently published in Nature Astronomy scientists from Indian Institute of Astrophysics (IIA) along with their international collaborators have provided a robust observational evidence for the first time that Li production is common among low mass Sun-like stars during their He-core burning phase.

    Importance of lithium in our life

    • Light inflammable, metal lithium (Li) has brought about transformation in modern communication devices and transportation.
    • A great deal of today’s technology is powered by lithium in its various shades [remember Li-ion battery!].
    • But where does the element come from?
    • The origin of much of the Li can be traced to a single event, the Big-Bang that happened about 13.7 Billion years ago, from which the present-day Universe was also born.

    Why lithium was thought to be different?

    • Li content in the physical Universe has increased by about a factor of four over the life of the Universe.
    • However, the rest of the elements carbon, nitrogen, oxygen, iron, nickel and so on which grew about a million times over the lifetime of the Universe.
    • Li, however, understood to be an exemption!
    • Current understanding is that lithium in stars like our Sun only gets destroyed over their lifetime.
    • As a matter of fact, the composition of all the elements in the Sun and the Earth is similar.
    • But, the measured content of Li in the Sun is a factor of 100 lower than that of the Earth, though both are known to have formed together.

    So, what the new finding suggests?

    • This discovery challenges the long-held idea that stars only destroy lithium during their lifetime.
    • It implies that the Sun itself will manufacture lithium in the future.
    • This is not predicted by models, indicating that there is some physical process missing in stellar theory.
    • Further, the authors identified “He flash”.
    • “He flash” is an on-set of He-ignition at the star’s core via violent eruption at the end of the star’s core hydrogen-burning phase, as the source of Li production.
    • Our Sun will reach this phase in about 6-7 billion years.

  • Prerak Dauur Samman

    The Ministry of Housing & Urban Affairs (MoHUA) announced a new category of awards titled ‘Prerak Dauur Samman’ as part of Swachh Survekshan 2021.

    Try this question:

    Q. The Prerak Dauur Samman recently seen in news is related to:

    a) Swachh Bharat b) Literature c) Health Services d) Visual Arts

    Prerak Dauur Samman

    • The Prerak Dauur Samman has a total of five additional subcategories -Divya (Platinum), Anupam (Gold), Ujjwal (Silver), Udit (Bronze), Aarohi (Aspiring) – with top three cities being recognized in each.
    • In a departure from the present criteria of evaluating cities on ‘population category’, this new category will categorize cities on the basis of six select indicator wise performance criteria which are as follows:

    1) Segregation of waste into Wet, Dry and Hazard categories

    2) Processing capacity against wet waste generated

    3) Processing and recycling of wet and dry waste

    4) Construction & Demolition (C&D) waste processing

    5) Percentage of waste going to landfills

    6) Sanitation status of cities

  • ‘Accelerate Vigyan’ Scheme

    To provide a single platform for research internships, capacity building programs and workshops across the country, the Science and Engineering Research Board (SERB) has launched a new scheme called ‘Accelerate Vigyan’ (AV).

    Note the following things about the ‘Accelerate Vigyan’ Scheme:

    1) Implementing agency/ Nodal Ministry

    2) Primary objective

    3) Target beneficiaries

    4) Its components

    ‘Accelerate Vigyan’ Scheme

    • Accelerate Vigyan (AV) strives to provide a big push to high-end scientific research and prepare scientific manpower which can venture into research careers and knowledge-based economy.
    • The primary objective of this scheme is to give more thrust on encouraging high-end scientific research and preparing scientific manpower, which can lead to research careers and knowledge-based economy.
    • AV will initiate and strengthen mechanisms of identifying research potential, mentoring, training and hands-on workshop on a national scale.
    • The aim is to expand the research base in the country, with three broad goals – consolidation / aggregation of all scientific training programs, initiating High-end Orientation Workshops and creating opportunities for Research Internships.

    Components of AV

    1) ABHYAAS

    • It is an attempt to boost research and development in the country by enabling and grooming potential PG/PhD students by means of developing their research skills in selected areas across different disciplines or fields.
    • It has two components: High-End Workshops (‘KARYASHALA’) and Research Internships (‘VRITIKA’).
    • This is especially important for those researchers who have limited opportunities to access such learning capacities/facilities/infrastructure.

    2) SAMOOHAN

    • Mission ‘SAMOOHAN’ marks the beginning of Accelerate Vigyan.
    • It aims to encourage, aggregate and consolidate all scientific interactions in the country under one common roof.
    • It has been sub-divided into ‘SAYONJIKA’ and ‘SANGOSHTI’.
    • SAYONJIKA is an open-ended program to catalogue the capacity building activities in science and technology supported by all government funding agencies in the country.
    • SANGOSHTI is a pre-existing program of SERB.

  • Stamp Duty on Mutual Fund Purchases

    The Amendments in the Indian Stamp Act, 1899 has been brought through Finance Act 2019 for Rationalized Collection Mechanism of Stamp Duty across India with respect to Securities Market Instruments.

    Up till now, we knew that stamp duties are levied on property transactions, registrations etc. With the Finance Act 2019, the stamp duties are also levied on Mutual Funds.

    What is Stamp Duty?

    • Stamp duty is a legal tax payable in full and acts as evidence for any sale or purchase of a property. It is payable under Section 3 of the Indian Stamp Act, 1899.
    • The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state to state.
    • The Centre levies stamp duty on specified instruments and also fixes the rates for these instruments.
    • It is usually paid by the buyer with regardless of agreement and in case of property exchange, both seller and the buyer has to share the stamp duty equally.
    • A stamp duty paid instrument/document is considered a proper and legal instrument/document and has evidentiary value and is admitted as evidence in courts.

    What is the move?

    • Beginning July 1, all shares and mutual fund purchases will attract a stamp duty of 0.005 per cent and any transfer of security will attract a stamp duty of 0.015 per cent.
    • The government had introduced changes to the Stamp duty Act last year by introducing a uniform rate of stamp duty on the trading of shares and commodities.
    • All categories of mutual funds (except for ETFs) will attract stamp duty for the first time.
    • Shares purchased by individuals at stock exchanges were charged stamp duty at different rates by respective states.

    Where all will it be applicable?

    • The stamp duty will be applicable on all transactions, including shares, debt instruments, commodities and all categories of mutual fund schemes.
    • As for mutual funds, it will be applicable on all fresh purchases, including the fresh monthly purchases in previously registered Systematic Investment Plans.
    • It will also be applicable if investors switch from one scheme to another and also in case of dividend reinvestment transactions.
    • Transfers of units from one Demat account to another, including market/off-market transfers, will also attract stamp duty.

    How does it impact the investor?

    • The impact on long-term investments by a retail investor is nominal.
    • Since the stamp duty will be charged a one-time charge, if an investor invests Rs 1 lakh in a mutual fund scheme or in stock and holds it for two years, he will have to pay a duty of only Rs 5.
    • In fact, it will be marginally lower as the stamp duty is applicable on the net investment value i.e gross investment amount less than any other deduction like transaction charge.
    • There is no duty at the time of redemption.

    What about big investors?

    • The impact is higher for investors with short-term investment horizons such as banks and corporates who invest in liquid and overnight schemes of mutual funds.

    How much revenue can it generate for the government?

    • In the financial year 2019-20, the mutual fund industry mobilized aggregate funds of over Rs 188 lakh crore.
    • A high portion of that was in overnight funds or liquid funds.
    • A 0.005 per cent stamp duty on this amount works out to Rs 940 crore.
    • If the industry continues to mobilise funds to the tune of Rs 190 lakh crore or higher, it will generate revenues of nearly Rs 1,000 crore for the government from mutual fund transactions itself.

    Back2Basics: Mutual Funds

    • MF is a trust that collects money from a number of investors who share a common investment objective.
    • Then, it invests the money in equities, bonds, money market instruments and/or other securities.
    • Each investor owns units, which represent a portion of the holdings of the fund.
    • The income/gains generated from this collective investment are distributed proportionately amongst the investors after deducting certain expenses, by calculating a scheme’s “Net Asset Value or NAV.
    • It is one of the most viable investment options for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost.
    • All funds carry some level of risk. With mutual funds, one may lose some or all of the money invested because the securities held by a fund can go down in value.

  • PM Formalization of Micro Food Processing Enterprises (PM FME) Scheme

    The Ministry for Food Processing Industries (MoFPI) has launched the PM Formalization of Micro Food Processing Enterprises (PM FME) as a part of “Atmanirbhar Bharat Abhiyan”.

    Practice question for mains:

    Q.What is the PM FME Scheme? Discuss its potential to neutralize various challenges faced by India’s unorganized food industries.

    PM FME Scheme

    • It aims to provide financial, technical and business support for upgradation of existing micro food processing enterprises.
    • It is a centrally sponsored scheme to be implemented over a period of five years from 2020-21 to 2024-25 with an outlay of Rs 10,000 crore.
    • The expenditure under the scheme would to be shared in 60:40 ratios between Central and State Governments, in 90:10 ratios with NE and the Himalayan States, 60:40 ratio with UTs with the legislature and 100% by Centre for other UTs.

    Features of the scheme

    • The Scheme adopts One District One Product (ODODP) approach to reap the benefit of scale in terms of procurement of inputs, availing common services and marketing of products.
    • The States would identify food product for a district keeping in view the existing clusters and availability of raw material.
    • The ODOP product could be a perishable produce based product or cereal-based products or a food product widely produced in a district and their allied sectors.
    • An illustrative list of such products includes mango, potato, litchi, tomato, tapioca, kinnu, bhujia, petha, papad, pickle, millet-based products, fisheries, poultry, meat as well as animal feed among others.
    • The Scheme also place focus on waste to wealth products, minor forest products and Aspirational Districts.

    Credit facility provided

    • Existing Individual micro food processing units desirous of upgradation of their unit can avail credit-linked capital subsidy @35% of the eligible project cost with a maximum ceiling of Rs.10 lakh per unit.
    • Seed capital @ Rs. 40,000/- per SHG member would be provided for working capital and purchase of small tools.
    • FPOs/ SHGs/ producer cooperatives would be provided a credit-linked grant of 35% for capital investment along the value chain.
    • Support for marketing & branding would be provided to develop brands for micro-units and groups with 50% grant at State or regional level which could benefit a large number of micro-units in clusters.

    Why need such a scheme?

    • The unorganized food processing sector comprising nearly 25 lakh units contribute to 74% of employment in the food processing sector.
    • Nearly 66% of these units are located in rural areas and about 80% of them are family-based enterprises supporting livelihood rural household and minimizing their migration to urban areas.

    Challenges faced

    • The unorganised food processing sector faces a number of challenges which limit their performance and their growth.
    • These challenges include lack of access to modern technology & equipment, training, access institutional credit, lack of basic awareness on quality control of products; and lack of branding & marketing skills etc.
    • Owing to these challenges; the unorganised food processing sector contributes much less in terms of value addition and output despite its huge potential.

  • Coccolithophores: The Ancient Algae

    A study of microscopic ancient marine algae (Coccolithophores) has found that there is a decrease in the concentration of oceanic calcium carbonate (CaCO3) in the Southern Indian Ocean.

    Try this question:

    Q.The Coccolithophores sometimes seen in news are-

    (a) Diatoms

    (b) Algae

    (c) Coral Polyps

    (d) Sea grass

    Coccolithophores

    • Coccolithophores are single-celled algae living in the upper layers of the world’s oceans.
    • They have been playing a key role in marine ecosystems and the global carbon cycle for millions of years.
    • They calcify marine phytoplankton that produces up to 40% of open ocean calcium carbonate and responsible for 20% of the global net marine primary productivity.
    • They build exoskeletons from individual CaCO3 plates consisting of chalk and seashells building the tiny plates on their exterior.

    Role as a carbon sink

    • Though carbon dioxide is produced during the formation of these plates, coccolithophores help in removing it from the atmosphere and ocean by consuming it during photosynthesis.
    • At equilibrium, they absorb more carbon dioxide than they produce, which is beneficial for the ocean ecosystem.
    • These investigations are important for future intervention to bring positive changes in the marine ecosystem and the global carbon cycle.

    Threats

    • The reduction of coccolithophores is due to an increase in the presence of diatom algae, which occurs after sea ice breakdown with climate change and ocean acidification, and increases the silicate concentration in the waters of the Southern Ocean.
    • Their existence is highly dependent on time and influenced by various environmental factors such as silicate concentrations, calcium carbonate concentration, diatom abundance, light intensity and availability of macro and possibly micronutrient concentrations.