|Tejaswini Project|| “Tejaswini” – Socio-Economic Empowerment of Adolescent Girls and Young Women Project”|
- Market-driven skills training and secondary education for adolescent girls and young women.
- The project is being delivered in 17 Districts of Jharkhand.
- India signs Financing Agreement with World Bank for Tejaswini.
- It is World Bank’s first project in India solely focused on the welfare of adolescent girls and young women (AGYW) aged between 14 and 24
|Insolvency and Bankruptcy Code (IBC), 2016|
- Override other existing laws on matters pertaining to Insolvency and Bankruptcy.
- Resolve insolvencies within 180 days. (Extendable upto 270 days) for the Company.
- Debt Recovery Tribunal – Adjudicating authority for individuals.
- National Company Law Tribunal – Adjudicating authority for corporate insolvency.
- Insolvency and Bankruptcy Board of India to exercise regulatory oversight over insolvency professionals, insolvency professional agencies and information utilities.
- Insolvency and Bankruptcy Board of India is under the Ministry of Corporate Affairs (MCA).
- Enabling provisions to deal with cross border insolvency.
|National Investment and Infrastructure Fund (NIIF)|| Fund created by the Government of India for enhancing infrastructure financing in the country.|
- Different from the National Investment Fund.
- It is set up as Category II Alternate Investment Fund (AIF) under the Securities and Exchange Board of India (SEBI) Regulations.
- NIIF is India’s first sovereign wealth fund.
- Infrastructure development in commercially viable projects, both Greenfield and Brownfield, including stalled projects.
- To attract investment from both domestic and international sources.
- It would serve as an umbrella fund with several funds underneath it.
|Hydrocarbon Exploration and Licensing Policy (HELP)||Uniform license for exploration and production of all forms of hydrocarbon.|
- Open acreage policy – Enable exploration and production (E&P) companies choose the blocks from the designated area.
- Shift to Revenue sharing model, from previous production sharing model.
- Marketing and pricing freedom for the crude oil and natural gas produced.
- The decision will enhance domestic oil & gas production, bring substantial investment in the sector and generate sizable employment.
- Introduced by Finance Minister during his Budget 2017 speech in order to bring some transparency to the electoral funding process.
- Authorised under a scheme under the Income Tax Act.
- It will open for a limited period of time during the elections, or maybe a little before the elections.
- These bonds can be donated only to a political party.
- These are redeemable in only one account of that party, registered with the Election Commission.
|Border haats (Border Markets)|| The border haats are markets that aim at promoting the wellbeing of the people dwelling in remote areas across the borders of two countries.|
- Establishing traditional system of marketing the local produce through local markets.
- The Border Haats allows to people living in border areas to trade in specified products in accordance with the regulations agreed and notified by both Governments.
Presently 4 Border Haats are already operational along India-Bangladesh border. They are
- Kalaichar (Meghalaya)
- Balat (Meghalaya)
- Kamlasagar (Tripura)
- Srinagar (Tripura).
|Sovereign Gold Bond Scheme (SGBs)|| SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold.|
- The Sovereign Gold Bonds will be available both in demat and paper form.
- The tenor of the bond is for a minimum of 8 years with option to exit in 5th, 6th and 7th years.
- Bonds can be used as collateral for loans.
- Minimum – 1 gram, Maximum – 500 grams.
- Tradable through National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
- Fixed Interest rate of 2.5% per annum payable once in 6 months.
|BHIM (Bharat Interface for Money)|| BHIM is Aadhaar-based payments app developed by the National Payment Corporation of India (NPCI).|
- It can work even on basic phones as it supports USSD payments.
- All major UPI connected Indian banks accepts money through BHIM app.
- The app also allows user to scan a QR code. Payment can be done through scanning QR code.
|Unified Payments Interface (UPI)|
- The National Payments Corporation of India (NPCI) launched “Unified Payments Interface (UPI)”.
- The UPI is for mobile based payment method that powers multiple bank accounts into a single mobile application.
- It facilitates ‘virtual address’ as a single payment identifier for sending and collecting money.
- The single identifier will eliminate the need to exchange sensitive information such as bank account numbers during a financial transaction.
- UIP is an advanced version of NPCI’s Immediate Payment Service (IMPS) which is a 24X7 funds transfer service.
|Sagarmala Programme|| The Sagarmala project seeks to develop a string of ports around India’s coast.|
- Promote “Port-led development” along India’s 7500 km long coastline.
- The Union Ministry of Shipping is the nodal ministry for this initiative.
- Sustainable development of the population living in the Coastal Economic Zone (CEZ).
- Improve port connectivity through rail corridors, freight-friendly expressways and inland waterways.
- Develop skills of fishermen and other coastal and island communities.
- Three pillars of development:
- Enabling Port-led Development through appropriate policy and institutional interventions.
- Modernization and setting up of new ports. o Evacuation to and from hinterland
- To implement this, State governments would set up State Sagarmala committees, headed by the chief minister or the minister in charge of ports.
- At the central level, a Sagarmala Development Company (SDC) will be set upto provide equity support to assist various special purpose vehicles (SPVs) set up for various projects.
|Mission Indradhanush|| Mission Indradhanush aimed to revamp the functioning of public sector banks so that PSBs can compete with the Private Sector Banks.|
- The mission is a brainchild of PJ Nayak committee.
- It is launched by Ministry of Finance under the Department of Financial Services.
- The mission includes the seven key reforms of appointments, board of bureau, capitalisation, de-stressing, empowerment, framework of accountability and governance reforms.
- It aims to clean up the balance sheets of PSBs to ensure banks remain solvent .
|Special economic zone (SEZ)|| SEZ is a geographical region that has economic laws different from a country’s typical economic laws.|
- Usually the goal is to increase foreign investments.
- Any private/public/joint sector or state government or its agencies can set up an SEZ.
- A SEZ is a designated duty free enclave to be treated as foreign territory for the purpose of trade operations and duties and tariffs.
- Before recommending any proposals to the ministry of commerce and industry (department of commerce), the states must satisfy themselves that they are in a position to supply basic inputs like water, electricity, etc.
- Companies may be offered tax holidays, where upon establishing in a zone they are granted a period of lower taxation. The main objectives of the SEZ Act are:
- Generation of additional economic activity.
- Promotion of exports of goods and services.
- Promotion of investment from domestic and foreign sources.
- Creation of employment opportunities.
- Development of infrastructure facilities.
- The Diamond Quadrilateral is a project of the Indian railways to establish high speed rail network in India.
- This quadrilateral will connect the four metro cities in India, i.e. Delhi, Mumbai, Kolkata and Chennai.
Six corridors identified are:
Delhi and both diagonals i.e. (v) Delhi-Chennai and (vi) Mumbai-Kolkata routes.
- This project is similar to Golden Quadrilateral which is a roadway project which connects the four metros by Express Ways.
- The Golden Quadrilateral falls under National Highways Development Project.
|Transparency in Power Sector|| In a bid to enhance transparency in power transmission sector of the country, the government has launched the ‘TARANG’ Mobile App, ‘e-Trans’ & ‘DEEP’ e-bidding web portals.|
|Standards & Labelling Programme|| The Bureau of Energy Efficiency initiated the Standards & Labelling programme for equipment and appliances in 2006 to provide the consumer an informed choice about the energy saving and thereby the cost saving potential of the relevant marketed product.|
- The equipment/appliances are given a star rating of one to five; five stars being the most energy efficient.
- The scheme is invoked for 21 equipment/appliances including 7 for which it is mandatory.
- Some of the equipment/appliances covered under this programme include frost free (no frost) refrigerators, tubular fluorescent lamps (TFLs), room air-conditioners, direct cool refrigerators, distribution transformers, induction motors, pump sets, ceiling fans, liquefied petroleum gas (LPG) stoves, electric geysers, ballasts, computers, office equipment, and colour televisions.
|DBT in kerosene|
- Jharkhand has become the first state in the country to implement Direct Benefit Transfer (DBT) in Kerosene.
- Under the DBTK Scheme, PDS kerosene is being sold at non-subsidised price, and, subsidy, as admissible, is being transferred to consumers directly into their bank accounts.
- This initiative was launched by Union Petroleum and Natural Gas Ministry on the lines of a similar DBT programme for LPG subsidy.
- It aims at rationalising subsidy based on the approach to cut subsidy leakages but not the subsidy.
|National Mineral Exploration Policy (NMEP)|| The NMEP primarily aims at accelerating the exploration activity in the country through enhanced participation of the private sector.|
- The policy seeks to uncover full mineral potential in order to put the nation’s mineral resources (non-fuel and non-coal) to best use and maximize sectoral contribution to the Indian economy.
- The Union Ministry of Mines will carry out auctioning of identified exploration blocks for exploration by private sector.
- It will be done on the revenue sharing basis in case their exploration leads to auctionable resources. The revenue will be borne by the successful bidder of those auctionable blocks.
- A National Geoscientific Data Repository (NGDR) will be set up to collate all baseline and mineral exploration information generated by various central and state government agencies and maintain these on a geospatial database.
- Government proposes to establish a not-for-profit autonomous institution known as the National Centre for Mineral Targeting (NCMT) in collaboration with scientific and research bodies, universities and industry for scientific and technological research to address the mineral exploration challenges in the country.
|Permanent Residency Status (PRS) to foreign investors||This status will be subject to the relevant conditions in the FDI Policy notified by the Central Government from time to time.|
- The PRS will be granted for a period of 10 years with multiple entry, which can be renewed for another 10 years.
- In order to avail this scheme, the foreign investor will have to invest a minimum of 10 crores rupees within 18 months or 25 crores rupees within 36 months.
- Further, the foreign investment should result in generating employment to at least 20 resident Indians every financial year.
- For dwelling purpose, PRS holders will be allowed to purchase one residential property. Their spouse and dependents will be also allowed to undertake studies in India and take up employment in private sector.
|National Mission on Bio Economy|| The National Mission on Bioeconomy was launched in Shillong, Meghalaya by the Institute of Bio-resources and Sustainable Development (IBSD).|
- The purpose of the mission is to boost rural economy by utilizing bio-resources.
- It also focuses on sustainable utilization of renewable biological resources for food, bio-energy and bio-based products through knowledge-based approaches.
- Bioeconomy is a new concept and few countries like US, Canada, European Union (EU) and Australia have started initiatives in this field.
- The Institute of Bio-resources and Sustainable Development (IBSD) functions under the Department of Biotechnology, Union Ministry of Science and Technology.
|Public Debt Management Cell (PDMC)||The Union Finance Ministry has set up a Public Debt Management Cell (PDMC) with the objective of deepening bond markets in the country.|
- Key Facts:PDMC is an interim arrangement and will be upgraded to a statutory Public
Debt Management Agency (PDMA). o It will allow separation of debt management functions from RBI to PDMA in
- a gradual and seamless manner. o PDMC will have only advisory functions in order to avoid any conflict with the statutory functions of RBI.
Functions of PDMC:
- Plan government borrowings, including market borrowings and other borrowings, like Sovereign Gold Bond (SGB) issuance.
- Manage government’s liabilities, improve cash forecasting, monitor cash balances, foster a liquid and efficient market for government securities.
- Advice government on matters related to capital market operations, investment, administration of interest rates on small savings etc.
- Develop an Integrated Debt Database System (IDMS) as a centralised data base for all liabilities of government.