Central-Road-and-Infrastructure-Fund-(CRIF)-IASToppers
PIB Daily

PIB Daily – 23rd November 2019 – IASToppers

Central Road and Infrastructure Fund (CRIF); Green Steel; Ispati Irada;
By IASToppers
November 23, 2019

Contents

Key Facts for Prelims

  • Minister of Petroleum appeals to the Steel Industry to work towards the “Green Steel”
  • Central Road and Infrastructure Fund

 

[Note: Today’s PIB Daily News are already covered in Today’s Current Affairs Analysis. This PIB News Analysis news are only for those who wants to get only PIB news]

For IASToppers Current Affairs Analysis Archive, Click Here 

For IASToppers’ PIB Daily Archive, Click Here   

Key Facts for Prelims

Minister of Petroleum appeals to the Steel Industry to work towards the “Green Steel”

In his inaugural address in the ISA Steel Conclave 2019 organised by Indian Steel Association, Minister of Petroleum and Natural Gas & Steel has asked the Steel industry in the country to work towards the mission of Green Steel.

Shri-Dharmendra-Pradhan-appeals-to-the-Steel-Industry-1

ABOUT ISPATI IRADA

About-Ispati-Irada

  • In September 2019, a collaborative branding campaign named “Ispati Irada” was launched by the Ministry of Steel to promote appropriate usage of steel in India.

KEY FACTS

India,

  • became 2nd largest producer of crude steel during 2018,
  • is the largest producer of Sponge Iron in the world.
  • is the 3rd largest finished steel consumer in the world. after China & USA.
[Ref: PIB]

 

Central Road and Infrastructure Fund

ABOUT CENTRAL ROAD AND INFRASTRUCTURE FUND (CRIF)

Central-Road-and-Infrastructure-Fund-1

  • The Central Road and Infrastructure Fund (CRIF) is earmarked for various infrastructure sectors such as Transport, Energy, Water and Sanitation, Communication, Social and Commercial Infrastructure, etc., as per the provisions of CRIF Act, 2000.

BACKGROUND

  • The CRF, launched in 2000, is a cess imposed along with excise duty on petrol and diesel.
  • In 2018 budget, the government created Central Road and Infrastructure Fund in place of the CRF by amending the Central Road Fund Act, 2000.
  • Main purpose of the amendment is to use the proceeds of the road cess under CRIF to finance other infrastructure projects.
  • As per the amendment, the share for each infrastructure project from the CRIF will be finalised by a Committee, headed by the Finance Minister.
  • With the amendment of CRF Act, 2000, sanction of schemes for the State Roads is no longer a function of the Central Government.

 [Ref: PIB]

 

Topics
Current Affairs PIB Daily
Tags

IT on Facebook

Comments

My Favourite Articles

  • Your favorites will be here.

Calendar Archive

December 2019
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031