By admin: March 17, 2023

IndiaAI ecosystem

Tags: Environment National National News

task force for framing a draft roadmap for the artificial intelligence ecosystem

The Ministry of Electronics and IT  set up a task force for framing a draft roadmap for the artificial intelligence ecosystem by the end of April.

An overview of the news:

  • The Minister of State for Electronics and IT has announced the establishment of the IndiaAI platform, which aims to support research and provide tools for startups in the field of artificial intelligence. 

  • This platform will focus on promoting Indian startups, research, and innovation, which could contribute to the growth of the Indian economy.

  • Estimates suggest that AI could potentially add USD 967 billion to the Indian economy by 2035 and USD 450-500 billion to India's GDP by 2025, which is a significant amount and could account for 10% of the country's USD 5 trillion GDP target.

About IndiaAI platform:

  • INDIAai stands for ‘The National AI Portal of India’ platform.

  • The platform was launched in 2018.

  •  It is a joint initiative of the Ministry of Electronics and Information Technology (MeitY) and the National Association of Software and Services Companies (NASSCOM).

  • The primary objective of the IndiaAI platform is to create a collaborative ecosystem for AI in India by bringing together industry, academia, startups, and the government. 

  • The platform provides a forum for stakeholders to exchange ideas, collaborate on projects, share best practices, and access AI resources such as datasets, algorithms, and tools.

  • IndiaAI also aims to support the development of AI-based solutions that address societal challenges such as healthcare, education, agriculture, and urban development. 

  • The platform provides access to funding, mentorship, and other resources to startups and entrepreneurs working on AI-based solutions.

  • IndiaAI has several initiatives like:

  • AI for All program: which aims to provide AI training to over 1 million citizens in India, and the AI research and innovation hub, which is a network of AI research centers and labs across the country.

The US Senate appointed of Eric Garcetti as the United States Ambassador to India

Tags: Person in news International News

Eric Garcetti has been confirmed by the US Senate as the new ambassador to New Delhi, chosen by President Joe Biden for the role.

An Overview of the News

  • Garcetti was supported by a majority of Senators, with 52 in favour and 42 against.

  • Seven Republican Senators joined the Democrats in backing Garcetti for the role.

  • Eric Garcetti served as the mayor of Los Angeles, California in the past..

  • He is the first LA mayor in more than 50 years to be nominated for a diplomatic position.

About the US Senate

  • The US Senate is one of the two chambers of the US Congress.

  • It has 100 senators, each state is represented by two senators, who serve for six-year terms.

  • The Senate has significant powers, including the ability to approve presidential nominations and treaties, and to serve as a court for impeachment proceedings.

  • The Vice President of America is the leader of the Senate, but votes only in case of a tie.

President Draupadi Murmu awarded the President's Color to INS Dronacharya

Tags: Defence Awards

President Draupadi Murmu presented the "President's Colour" to INS Dronacharya at Kochi.

On March 16, 2023, President Draupadi Murmu presented the "President's Colour" to INS Dronacharya at Kochi.

An Overview of the News

  • He also visited India's first indigenously built aircraft carrier INS Vikrant at the Cochin Shipyard.

  • President Murmu praised the aircraft carrier as a shining example of Atmanirbhar Bharat and said that India is among the very few countries that have the capability to build an aircraft carrier with indigenous technology.

About President's Color Award

  • The President's Color is the most prestigious decoration awarded by the President to a unit for outstanding service to the nation.

  • The highest military honour is an award given to military units for exceptional dedication and bravery in service.

  • Eligibility requires a minimum of 25 years of service and outstanding contribution to the military community.

  • It was instituted on May 27, 1951 and is considered one of the most prestigious military awards.

  • The award recognizes the collective efforts and sacrifices of a unit in defending their country, maintaining peace and order and upholding military values.

About INS Dronacharya

  • INS Dronacharya is responsible for training the Sagar Prahari Bal and is also the Navy's primary centre for training various nations in the Indian Ocean Region (IOR).

  • INS Dronacharya is a training establishment of the Indian Navy located in Kochi, Kerala.

  • It was commissioned in 1989 and provides training to naval personnel in various technical fields.

  • It also conducts research and development activities in the field of marine technology and provides consultancy services to the Indian Navy and other organisations.

  • INS Dronacharya has played an important role in the training of the submarine arm of the Indian Navy and is named after Dronacharya, the renowned warrior and teacher.

Ministry of Steel signs MoU with selected companies under PLI scheme

Tags: Economy/Finance National News

Ministry of Steel signs MoU with selected companies under PLI scheme

The Ministry of Steel on 17 March signed MoUs with selected companies under the Production-linked Incentive (PLI) scheme for specialty steel in New Delhi.

An overview of the news

  • India has become a growth center for the future of the steel industry. India will play an important role in this sector in the next two decades.

  • A total of 57 MoUs were signed with 27 companies during the event.

  • The production linked incentive scheme aims to boost domestic manufacturing and cut down on import bills by encouraging local companies to set up or expand existing manufacturing units.

Production Linked Incentive (PLI) scheme 

  • It is an initiative that provides incentives to domestic industries to promote production at the local level.

  • Through this scheme, the government aims to incentivize companies to increase the sales of manufactured products in domestic units.

  • The objective of the scheme is to make domestic manufacturing globally competitive and to become a global champion in manufacturing.

  • The government has launched this scheme with an outlay of around Rs 2 lakh crore for 14 sectors including Automobiles and Auto Components, White Goods, Pharma, Textiles, Advanced Chemistry Cell and Specialty Steel.

India-Bangladesh Friendship Pipeline to be jointly inaugurated by PM Modi and Sheikh Hasina

Tags: International News

Indian Prime Minister Narendra Modi and Bangladesh Prime Minister Sheikh Hasina will inaugurate the India-Bangladesh Friendship Pipeline through video conference on March 18, 2023.

An Overview of the News

  • The India-Bangladesh Friendship Pipeline is a proposed 130 km long pipeline for high-speed diesel transport from Siliguri in India to Parbatipur in Bangladesh.

  • Maitri Pipeline is the first cross-border energy pipeline between India and Bangladesh with an estimated cost of Rs 377 crore.

  • The pipeline has a capacity to transport 1 million metric tonnes per annum (MMTPA) of high-speed diesel (HSD), and will be constructed by India's Numaligarh Refinery Limited (NRL) at an estimated cost of USD 1.6 billion.

  • Initially, the pipeline will supply high-speed diesel to seven districts in northern Bangladesh.

  • The operationalization of the India-Bangladesh Friendship Pipeline will provide a sustainable, reliable, cost-effective and environment-friendly mode of HSD transportation from India to Bangladesh.

  • The pipeline will enhance cooperation in energy security between India and Bangladesh.

  • This is part of the Memorandum of Understanding (MoU) signed between India and Bangladesh in April 2017 to strengthen cooperation in the energy sector.

  • The pipeline will help Bangladesh meet its growing energy demand and reduce its dependence on imported fuel, while providing an opportunity for India to expand its energy exports to neighbouring countries.

About Bangladesh

  • Prime Minister - Sheikh Hasina

  • Currency - Bangladeshi Taka

  • Capital - Dhaka

K Krithivasan appointed CEO Designate of Tata Consultancy Services (TCS)

Tags: Person in news

Kriti Krithivasan has been appointed as the CEO of the country's largest IT services firm Tata Consultancy Services (TCS) after the current CEO and MD Rajesh Gopinathan stepped down on March 16.

An overview of the news

  • Prior to this, Krithivasan was the global head and president of TCS's banking, financial services and insurance businesses.

  • His responsibility is to create a growth strategy for the company, improve financial performance, customer mindshare and strengthen the company's position in the market.

  • He has helped the company's key clients drive digital transformation, change management cycles, drive cost optimization and establish IT program governance.

  • K Krithivasan joined TCS in 1989. He has held various positions in the company in delivery, sales and various top management positions in his career.

  • He holds a bachelor's degree in Mechanical Engineering from theUniversity of Madras and a master's degree in Industrial and Management Engineering from IIT Kanpur.

  • Tata Consultancy Services Ltd (TCS), a subsidiary of Tata Sons Pvt Ltd, is a provider of information technology (IT) services. 

Union Home Ministry announced 10% reservation for former Agniveers

Tags: Defence National News

Union Home Ministry announced 10% reservation for former Agniveers

The Union Home Ministry has announced a 10% reservation for former Agniveers in the Central Industrial Security Force (CISF)

An Overview of the News

  • Its objective is to provide opportunities to a specific group and promote their participation in the Armed Forces.

  • This reservation is similar to the reservation announced for former Agniveers in the Border Security Force (BSF).

  • Former Agniveers will get relaxation in the upper age limit and will also be exempted from Physical Efficiency Test.

  • The upper age limit for candidates of the first batch of Agniveers shall be relaxed by up to five years, whereas the other batches shall get age relaxation by up to three years.

  • The Agnipath scheme has been launched by the central government for recruitment in the Armed Forces.

  • The Agnipath scheme was approved by the Indian Government in June 2022.

  • The scheme aims to induct youth between 17-and-a-half years of age and 21 years of age on a four-year short-term contractual basis.

  • The scheme has been designed to ensure a youthful profile of the Armed Forces.

Indian Railways to become Net Zero Carbon Emitter by 2030

Tags: National National News

 "net zero carbon emitter" by 2030.

Union Railway Minister Ashwini Vaishnav recently said in a written reply to a question in the Lok Sabha that the Indian Railways is working on a mission mode to become the largest green railway in the world and towards becoming a "net zero carbon emitter" by 2030.

An overview of the news

  • Indian Railways has taken several initiatives to reduce carbon emissions which include the use of energy efficient technologies.

  • Indian Railways is starting production of three phase electric locomotives with regenerative features, use of Head on Generation (HOG) technology, use of LED lights in buildings and coaches, use of star rated equipment.

  • In addition, key strategies identified to achieve the net zero carbon emission target are procurement of electricity through renewable energy sources, transition from diesel to electric traction, promotion of energy efficiency, and afforestation. 

The projected energy demand of Indian Railways

  • The estimated energy demand of Indian Railways is expected to be around 8,200 Megawatts (MW) in 2029-30.

  • To achieve net zero carbon emissions, the expected requirement of renewable capacity by 2029-30 would be around 30,000 MW.

  • By February 2023, about 147 MW of solar plants and about 103 MW of wind power plants have been commissioned.

  • In addition, about 2150 MW of renewable capacity has also been tied up.

  • Indian Railways plans to progressively procure renewable energy through various power purchase modes for its future energy requirements.

Contribution of railways towards combating Climate Change

  • Indian Railways has adopted an integrated approach to green transport to increase the total share of Indian Railways in land based freight traffic from the present 36 per cent to 45 per cent by 2030.

  • Indian Railways is setting up Dedicated Freight Corridors (DFCs) across the country. 

  • Its first phase is estimated to reduce emissions by about 457 million tonnes over a period of 30 years.

  • The traction diesel fuel will use 5 percent blending of biofuels.

  • Water use efficiency will be improved by 20 percent by 2030.

  • Plantation will be done to increase carbon absorption, there will be emphasis on waste management and pollution control.

  • The Minister of Railways - Ashwini Vaishnaw

RBI Governor Shaktikanta Das wins 'Governor of the Year' award at Central Banking Awards 2023

Tags: Awards Person in news

international publication Central Banking.

Reserve Bank Governor Shaktikanta Das has been honoured with the 'Governor of the Year 2023 Award' by the international publication Central Banking.

An Overview of The News 

  • Mr Das has been heading the central bank since December 2018.

  • He has been awarded for successfully navigating the financial markets through various crises, including the pandemic and inflation caused by the war in Ukraine.

About Reserve Bank of India (RBI)

  • The Reserve Bank of India (RBI) is the central bank of India and was established on April 1, 1935.

  • It is responsible for regulating India's monetary policy and managing the country's currency and foreign exchange reserves.

  • RBI also acts as the banker to the Government of India, commercial banks and other financial institutions.

  • RBI is headquartered in Mumbai and operates through various regional offices across India.

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