IASToppers-Current-Affairs-Analysis-24th-Mar-2016
Current Affairs Analysis

24th March 2016 Current Affairs Analysis

By IT's Current Affairs Analysis Team
March 24, 2016

Contents

Social Issues

  • Government to build 2.95 crore houses for rural poor

Economy

  • India-UAE agreement for $75 billion investment in NIIF gets clearance
  • MoU between India and UAE
  • Extension of time period of the Scheme “Special Industry Initiative for J&K” Udaan
  • World Bank to extend Rs 9,000 crore support to Swachh Bharat Mission
  • Annual Target of Electrifying 7000 Villages Achieved

International Relations

  • India to accede to the Ashgabat Agreement

Science & Technology

  • Cabinet approves procurement of launch services for GSAT-11
  • Tool to check solar plant parts

Social Issues

Government to build 2.95 crore houses for rural poor

The government recently approved the “House for All” scheme to construct 2.95 crore houses in rural areas, setting a 2022 deadline.

  • The Centre has already rolled out the urban component of the scheme with a target of two crore houses.

About “House for All” scheme:

  • The “House for All” scheme will be implemented across the country except Delhi and Chandigarh, and its beneficiaries will be identified through the socio-economic caste census.
  • This scheme will be implemented in two phases.
  • Of the total expenditure estimated in housing for all, Rs 68,000 crore would be provided through budgetary provisions and the rest of Rs 21,975 crore will come from borrowing through NABARD.
  • Importantly, the new scheme has enhanced the unit assistance to Rs 1,20,000 in plain areas and to Rs 1,30,000 in hilly states/difficult areas.
  • The scheme also envisages setting up a National Technical Support Agency at the national level to provide support in achieving the target set under the project.
[Ref: PIB]

Economy

India-UAE agreement for $75 billion investment in NIIF gets clearance

The Union Cabinet has given its ex-post facto approval for a Memorandum of Understanding (MoU) between India and the United Arab Emirates (UAE) to mobilise up to $75 billion long-term investment in the National Investment and Infrastructure Fund (NIIF).

Background:

  • The MoU was signed in February during Prime Minister Narendra Modi’s visit to UAE.

Significance of this MoU:

  • This MoU will help establish a transparent and high-level framework and collaboration platform under which both countries intend to explore ways to facilitate and expand the participation of UAE’s investment institutions in appropriate infrastructure projects and institutions in India including NIIF.

About National Investment and Infrastructure Fund (NIIF):

  • Proposed in Union Budget 2015, National Investment and Infrastructure Fund (NIIF) has been set up in last month of 2015.
  • The objective of NIIF is to maximize economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects, NIIF would solicit equity participation from strategic anchor partners.
  • The Fund aims to attract investment from both domestic and international sources.
  • The government’s contribution would be limited to 49% of the subscribed capital.
  • The government has budgeted to contribute Rs.20,000 crore to the fund in the current fiscal year while another Rs.20,000 crore is expected to be raised through sovereign wealth funds.
  • The government will seek participation from strategic investors such as sovereign fund, quasi sovereign funds and multilateral or bilateral investors, which can help leverage this fund to many times.
  • Cash-rich PSUs, pension funds, provident funds, National Small Saving Fund will be able to pick up stake in the fund.
[Ref: PIB]

MoU between India and UAE

The Union Cabinet has given its ex-post-facto approval to the Letter of Intent signed in February 2016 between the Ministry of Skill Development and Entrepreneurship of India and the National Qualifications Authority of the United Arab Emirates (U.A.E).

Significance of the Letter of Intent:

  • The Letter of Intent will strengthen relations between the two countries and pave the way for bilateral cooperation between the two countries on skill development and recognition of qualifications.

MoU for cooperation in skill development:

  • The Cabinet has also given its approval for signing of a Memorandum of Understanding(MoU) between the Ministry of Skill Development and Entrepreneurship of India and the National Qualifications Authority of the U.A.E. for cooperation in skill development and recognition of qualifications.
  • The MoU will pave the way for bilateral cooperation between the two countries on skill development and recognition of qualifications.
  • Also the MoU will facilitate workforce mobility, skill development and placement of youth in overseas jobs in UAE.
[Ref: PIB]

Extension of time period of the Scheme “Special Industry Initiative for J&K” Udaan

The Cabinet Committee on Economic Affairs has given its approval for extension of time period of the Scheme “Special Industry Initiative for J&K” (SII J&K) Udaan till 2019-20.

  • Initially the time period of Udaan was upto 2015-16.

About Udaan:

Udaan, the Special Industry Initiative (SII) for J&K is funded by Ministry of Home Affairs and implemented by National Skill Development Corporation (NSDC).

  • It is a national integration scheme with the goal to mainstream J&K youth with rest of the country.
  • The scheme not only provides skill enhancement and job opportunity but also leads to counter – radicalization and weaning away youth of J&K from militancy.
  • Udaan provides exposure to the youth of J&K to the best of corporate India and corporate India to the rich talent pool available in the State.
  • So far, 67 leading corporates have partnered with National Skill Development Corporation (NSDC) under UDAAN with a commitment to train youth from the State covering Organized Retail, Banking, Financial Services, IT, ITES, Infrastructure, Hospitality etc.
  • It is expected that the target of the Scheme, to train and enhance employability of 40,000 graduates, post graduates and three year engineering diploma holders, will be achieved by 2019-20.
[Ref: PIB]

World Bank to extend Rs 9,000 crore support to Swachh Bharat Mission

The government has approved 1.5 billion dollar (about Rs 9,000 crore) World Bank support for the Swachh Bharat Mission (SBM) in rural areas.

  • The project basically provides for incentivising states on the basis of their performance in the existing SBM-Gramin. Incentivisation of states was approved by the Cabinet while approving the SBM-Gramin in September, 2014.
  • The current approval provides for the mechanism of such incentivisation through World Bank credit.
  • The states will pass on a substantial portion of more than 95% of the Performance Incentive Grant Funds received to the appropriate implementing levels of districts, Blocks, GPs etc.
  • The end-use of the incentive grants will be limited to activities pertaining to the sanitation sector.

 [Ref: PIB]

Annual Target of Electrifying 7000 Villages Achieved

The government has achieved its annual target of electrifying 7000 villages during this (2015-16) fiscal year under Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY). 

 [Ref: PIB]

International Relations

India to accede to the Ashgabat Agreement

The Union Cabinet has approved a proposal to accede to the Ashgabat Agreement, a move that will further strengthen trade ties between India and the Eurasian region. 

  • India’s intention to accede to the Ashgabat Agreement would now be conveyed to the Depository State (Turkmenistan). India would become party to the Agreement upon consent of the founding members.

Benefits for India:

  • Accession to the Agreement would enable India to utilise this existing transport and transit corridor to facilitate trade and commercial interaction with the Eurasian region.
  • Further, this would synchronise with our efforts to implement the International North South Transport Corridor (INSTC) for enhanced connectivity.

Location of Ashgabat:

IASToppers-24st March

Ashgabatis the capital and the largest city of Turkmenistan in Central Asia, situated between the Karakum Desert and the Kopet Dag mountain range.

About Ashgabat Agreement:

The Agreement is an international transport and transit corridor facilitating transportation of goods between Central Asia and the Persian Gulf. 

  • The Ashgabat Agreement, which aims to develop a shortest trade route between Central Asian countries and Iranian and Omani ports, was initially signed among Uzbekistan, Turkmenistan, Iran, Oman and Qatar back in April 2011 and was given additional support in 2014 when a Memorandum of Understanding was signed.
  • Whilst Oman called for early completion of basic technical requirements so that the corridor can be operational by 2015, Qatar withdrew from the agreement in 2013. However, Kazakhstan promised to join instead, which will increase the project’s significance and extend it further into Central Asia.
  • The Iran-Turkmenistan-Kazakhstan (ITK) railway line will be the major route according to the Ashgabat Agreement, which became operational in December 2014 and was also included as part of India-funded North-South international transport corridor (NSITC).
[Ref: PIB; google map]

Science & Technology

Cabinet approves procurement of launch services for GSAT-11

The union cabinet has given its approval for the procurement of launch services and realisation of ground segment for GSAT-11 spacecraft.

GSAT-11 will be ready for launch by the end of 2016.

Benefits of ground segment of GSAT-11 spacecraft:

  • The ground segment is being realised to address the rural communication requirements.
  • The ground segment of GSAT-11 will also enable the utilisation of a small portion of the bandwidth for societal services apart from providing in-orbit testing support.
  • It will also provide a high throughput capacity of about 10 Gbps to render broadband connectivity, especially in rural areas.

About GSAT-11:

GSAT-11 is an Indian communication satellite which is proposed to be launched by GSLV-MkIII, an indigenously developed spacecraft propelled by cryogenic engine.

  • Approved in 2009, GSAT-11 is an advanced communication satellite with multi spot beam antenna coverage over Indian mainland as well as Islands to bring-in a huge advantage to the user community, compared to the existing INSAT/GSAT satellite systems.
  • The satellite is aimed at providing advanced telecom and DTH services in the country. 
  • GSAT-11 can transmit data at a speed of 10 Gigabytes per second to the entire nation.
  • GSAT-11 is a four-tonne geostationary communications satellite, which has a mission life of about 15 years.
  • The GSAT-11 will not only link all the towns and villages in this country with quality high-speed Wi-Fi service, it will also integrate internet and television services.
  • GSAT-11 is currently under development at Department of Space and ISRO facilities.

 [Ref: Hindu; ISRO]

Tool to check solar plant parts

Solar Mango, a solar energy consulting firm, has come out with a web-based tool ‘PV SAVVY’ to help people choose key components of the right quality required for solar power plants.

Details:

  • In the absence of a mechanism to evaluate solar power system parts, PV SAVVY aims to provide a checklist of green practices and assist people in selecting better quality components.
  • PV SAVVY analyses certifications such as IEC that are necessary for good quality solar components.
  • A better quality control over four key components i.e. panel, inverter, mounting system and cable during the purchase can make a huge difference in performance and costs
[Ref: Hindu]

 

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