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By admin: Sept. 22, 2022

Devusinh Chauhan to lead the Indian delegation in the ‘ITU Plenipotentiary Conference’ 2022 in Bucharest

Tags: place in news Person in news

The Union Minister of State for Communication Devusinh Chauhan will lead the Indian delegation to take part in the Plenipotentiary Conference 2022 (PP-22) of ITU (International Telecommunication Union) and last meeting of the 2022 session of ITU Council from 24th September to 14th October, 2022 in Bucharest, Romania.

The meeting will hold elections to constitute the next ITU Council for the term 2023-26 and for various posts. India has put up its candidature to be re-elected as a Member of the next ITU Council.

IMPORTANT FACTS -

International Telecommunication Union (ITU) :

• The International Telecommunication Union is a specialized agency of the United Nations for information and communication technologies – ICTs.
• It was established on 17 May 1865 as the International Telegraph Union, making it the oldest UN agency.
• The ITU promotes the shared global use of the radio spectrum, facilitates international cooperation in assigning satellite orbits, assists in developing and coordinating worldwide technical standards, and works to improve telecommunication infrastructure in the developing world.
• Headquarters: Geneva, Switzerland 

Supreme Court appoints Justice ‘L Nageswara Rao’ to frame the constitution of IOA and oversee its election

Tags: Sports Person in news

The Supreme Court on 22 September 2022, has appointed former Supreme Court judge L Nageswara Rao to prepare a road map for amending the Indian Olympic Association (IOA) constitution and conducting the election of the IOA by December 15, 2022.  

This move of the court comes after the International Olympic Committee (IOC) on September 8 issued a final warning to IOA to “resolve its governance issues” and hold elections by December, failing which the world sports body will ban India.

IMPORTANT FACTS -

Background to the Issue : 

• The IOA President Narendra Batra had to resign after the Delhi High Court ruled on 26 May 2022 that provision of life membership and life president in Hockey India was illegal.
• Narendra Batra contested and won the election of the IOA in 2017.
• He contested the election as being the Life Member and Life President in Hockey India.
• The Supreme Court upheld the Delhi high court order and asked the IOA to frame a new constitution which was in conformity with the National Sports guidelines of the country.
• However this move of the Court was seen as an interference by the IOC and it warned that it will suspend IOA.

First ‘Global Clean Energy Action Forum -2022’ starts at Pittsburgh, United States

Tags: place in news Summits International News

The  three day (21-23 September) ‘Global Clean Energy Action Forum -2022 organised by the United States government’s Department of Energy and Carnegie Mellon University, started on 21 September 2022 at Pittsburgh, United States .

Under the Global Clean Energy Action Forum a joint meeting of the Clean Energy Ministerial (CEM13) and Mission Innovation (MI-7) are being held.

It is being attended by energy and science ministers from 31 countries to discuss ways to achieve a net zero carbon target for the world.

 India is being led by Union Minister Dr Jitendra Singh.

He met US Energy Minister Jennifer Granholm and other important dignitaries.

The theme for CEM13/MI-7 is Rapid Innovation and Deployment.

IMPORTANT FACTS -

• Pittsburgh is also known both as "the Steel City" and as the "City of Bridges".
• Jamshedpur in India is also called as Pittsburgh of India.

REC becomes the 12th ‘Maharatna’ CPSE

Tags: Economy/Finance

The Department of Department of Public Enterprises, under the Ministry of Finance has issued an order on 22 September 2022, granting the status of a ‘Maharatna’ Central Public Sector Enterprise (CPSE) to the Rural Electrification Corporation (REC). REC is the 12th CPSE to be granted Maharatna status.

Vivek Kumar Dewangan, CMD, REC said that REC achieved this feat owing to its adaptability, resilience, and consistent performance even during the global covid-19 pandemic

IMPORTANT FACTS -

About REC :

• Rural Electrification Corporation is a Non-Banking Finance Company (NBFC) under the Union Ministry of Power. 
• It was set up in 1969 and it focuses on Power Sector Financing and Development across India. Its headquarters is in New Delhi.

What is Maharatna CPSE ?

• The Maharatna Scheme was introduced for Central Public Sector Enterprises (CPSEs) by the government of India in 2010 , in order to empower mega CPSEs to expand their operations and emerge as global giants. 
• Central Public Sector Enterprises (CPSEs are those companies which are owned by the government of India.

Eligibility Criteria for grant of Maharatna status :

The CPSEs meeting the following criteria are eligible to be considered for grant of Maharatna status.

• Having Navratna status;
• Listed on Indian stock exchange with minimum prescribed public shareholding under SEBI regulations;
• An average annual turnover of more than Rs. 25,000 crore during the last 3 years;
• An average annual net worth of more than Rs. 15,000 crore during the last 3 years;
• An average annual net profit after tax of more than Rs. 5,000 crore during the last 3 years;
• Should have significant global presence/international operations.

Benefits of being a Maharatna :

• Maharatna status grants a company considerable financial and  administrative autonomy . 
• The Board of a ‘Maharatna’ CPSE can make equity investments to undertake financial joint ventures and wholly-owned subsidiaries and undertake mergers and acquisitions in India and abroad, subject to a ceiling of 15% of the Net Worth of the concerned CPSE, limited to ₹5,000 crores in one project. 
• The Board can also structure and implement schemes relating to personnel and Human Resource Management and Training. 
• The company can also enter into technology Joint Ventures or other strategic alliances.

ADDITIONAL INFORMATION -

Maharatna CPSE (as on 22 September 2022) :

1. Bharat Heavy Electricals Limited
2. Bharat Petroleum Corporation Limited
3. Coal India Limited
4. GAIL (India) Limited
5. Hindustan Petroleum Corporation Limited
6. Indian Oil Corporation Limited
7. NTPC Limited
8. Oil & Natural Gas Corporation Limited
9. Power Finance Corporation 
10. Power Grid Corporation of India Limited
11. Rural Electrification Corporation
12. Steel Authority of India Limited

UNEP and NCC join hand to tackle plastic pollution through ‘Puneet Sagar Abhiyan’

Tags: National

The United Nations Environment Programme (UNEP) signed a Memorandum of Understanding (MoU) with National Cadet Corps (NCC) in New Delhi on September 22, 2022 to tackle the issue of plastic pollution and achieve the universal goal of clean water bodies through ‘Puneet Sagar Abhiyan’ and ‘Tide Turners Plastic Challenge programme. 

According to the Defence Ministry the goal of the MoU is to achieve the universal goal of clean water bodies through ‘Puneet Sagar Abhiyan’ and ‘Tide Turners Plastic Challenge programme’.

IMPORTANT FACTS -

Puneet Sagar Abhiyan :

• It was launched by NCC on 1 December 2021 to raise awareness about cleanliness and clean sea shores of plastic & other waste material. Initially the programme was for one month but was extended as a Pan-India round-the-year campaign to cover rivers and other water bodies as well.
• According to the Defence ministry Since the launch of ‘Puneet Sagar Abhiyan’, over 100 tonnes of plastic waste have been collected from nearly 1,900 locations by more than 12 lakh NCC cadets, alumni and volunteers, 

Tide Turners Plastic Challenge programme :

• The UNEP has its own Tide Turners Plastic Challenge programme, where it encourages the global youth to fight plastic pollution around the world.
•  Now both the UNEP and the NCC will jointly work to achieve the goal of fighting plastic pollution and cleaning water bodies .The MoU will be of three years.

United Nation Environment Programme (UNEP) :

• The United Nations Environment Programme was set up in 1972 after the United Nation Conference on Human Environment was held in Stockholm, Sweden in 1972.
• In 1988 it set up Intergovernmental Panel on Climate Change (IPCC) with World Meteorological Organisation
• Headquarters: Nairobi, Kenya 
• Director: Inger Andersen 

ADDITIONAL INFORMATION -

National Cadet Corps (NCC) :

• The NCC in India was formed under the National Cadet Corps Act of 1948 and was raised on 15 July 1948.
• It was set up on the recommendation of Pandit H.N. Kunzru committee.
• The NCC is a voluntary military cadet corps under the Union Ministry of Defence and is open to school and college students.
• It was set up to create a human resource of organized, trained and motivate youth to provide leadership in all walks of life and always available for the service of the nation
• The motto of NCC is: “Unity and Discipline”.
• Headquarters: New Delhi 
• Director General: Lt Gen Gurbirpal Singh

ADB reduces India’s growth forecast to 7% for 2022-23

Tags: Economy/Finance

The Asian Development Bank (ADB) in its Outlook 2022 Supplement report released on 21 September 2022 has reduced India’s GDP growth forecast to 7% for the financial year 2022-23 from 7.2% projected in July 2022. 

The reasons cited by the bank for the lower GDP forecast are the rising inflation and tight monetary policy to be followed by RBI and sluggish global growth.

ADB is the latest financial organization which has reduced the growth prospect of India in the current financial year. 

Recently Fitch Ratings also reduced India’s growth rate to 7% from earlier projection of 7.8%

The Asian Development Bank also reduced the overall growth projections for Asia and the Pacific regions due to global challenges.

The report expects China to show an economic growth of 3.3 per cent in 2022.

IMPORTANT FACTS -

Asian Development Bank 

• It was set up in 1966.
• Its headquarters is at Mandaluyong City, Manila, Philippines 
• Total member countries : 68 
• President of ADB : Masatsugu Asakawa of Japan

10th IBSA Trilateral Ministerial Commission meeting held in New York

Tags: International Relations Summits International News

The 10th India-Brazil-South Africa Dialogue Forum (IBSA) Trilateral Ministerial Commission meeting was held in New York on 21 September. 

IMPORTANT FACTS -

• The meeting was chaired by External Affairs Minister Dr S Jaishankar.

• Minister of Foreign Affairs of Brazil Carlos Alberto Franco França and Minister of Health of South Africa Dr Joe Phaahla were also present during the meeting.

• The Ministers reviewed the entire gamut of IBSA cooperation.

• The aspirations of African countries to have a permanent presence on the UN Security Council were endorsed by the ministers.

• They also supported the efforts of India and Brazil to obtain permanent membership in the Security Council.

• India will host the sixth IBSA summit on the sidelines of the G20 summit in November this year.

Agenda of the meeting :

• The agenda of the meeting was on mutual interests including cooperation in multilateral organizations, South-South cooperation, UNSC reform, 2030 agenda, Sustainable Development Goals, climate change, countering terrorism, and financing for developmental activities.

• They held discussions on regional issues like the African Union, the Middle East peace process, and the situation in Ukraine.

About IBSA Trilateral Ministerial Commission :

• It is a trilateral, developmental initiative between India, Brazil and South Africa to promote South-South cooperation and exchange.

• This grouping was formally renamed the IBSA Dialogue Forum when the foreign ministers of the three countries met in Brasilia (Brazil) on 6 June 2003 and issued the Brasilia Declaration.

Amazon has chosen Rajasthan for its first its solar power plant in India

Tags: Economy/Finance State News

American e-commerce giant Amazon has announced that it will set up three solar farms in Rajasthan with a combined capacity of 420 megawatt (MW). This will be the first time that Amazon is setting up a solar farm in the country. 

IMPORTANT FACTS -

The proposed power plants : 

• The power plant will be developed by three companies .ReNew Power will develop 210 MW plant,  Amp Energy India will set up 100 Mw and Brookfield Renewable Partners will develop  110 MW power plant .
• Amazon will also set up 23 new solar rooftop projects in 14 cities of India, with a capacity to generate an additional 4.09 MW of power. 

Solar Power in India :

• The National Institute of Solar Energy has assessed the Country’s solar potential of about 748 GW.
• The Government of India has set a target to have an installed solar power capacity of 300 GW by 2030.
• According to the Government of India the total installed solar capacity was 48.55 GW at the end of November 2021.
• India has the 5th largest installed  solar power capacity in the world after China, United States, Japan and Germany .

Vice President inaugurated 3rd edition of Lok Manthan programme in Guwahati

Tags: State News

Vice President Jagdeep Dhankhar inaugurated the third edition of the Lok Manthan programme at Srimanta Sankardeva Kalakshetra in Guwahati on 22 September.

IMPORTANT FACTS -

• Assam Chief Minister Himanta Biswa Sharma was also present on the occasion. 

• Kerala Governor Arif Muhammad Khan will be the Chief Guest at the concluding session on 24 September. 

• The theme of this year's biennial event is Lok Parampara (Folk Traditions) which will emphasise on how folk traditions have sustained our cultural consciousness and strengthened our sense of national consciousness.

About Lok Manthan programme :

• Lokmanthan is an occasion where artists, intellectuals and academicians from different parts of the country come together.

• Discussions, seminars, cultural programs and exhibitions are organised in this three-day event which showcases the rich diversity of the nation.

• The first edition of Lokmanthan which focused on Desh-Kaal-Status was held in 2016.

• The second edition of Lokmanthan was held in 2018 with the theme Bharat Bodh : Jan Gan Man.

Union Cabinet clears 2nd tranche of PLI scheme

Tags: National National News

The Union Cabinet on September 21 approved the second phase of the Rs 19,500 crore Generation Based Incentive (PLI) scheme for the National Program for High Efficiency Solar PV Modules.

IMPORTANT FACTS -

• It aims to create an ecosystem for manufacturing high efficiency solar PV modules.

• Solar PV manufacturers to be selected through a transparent selection process. 

• Under this, about 65 thousand MW manufacturing capacity of fully and partially integrated solar PV modules will be installed annually.

• This scheme will bring direct investment of about Rs.94 thousand crore and will provide direct employment to about 2 lakh people and indirect employment to about eight lakh people.

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.

‘She Is–Women in STEAM’ book honouring 75 women launched in India

Tags: Books and Authors

To  commemorate India’s 75th year of Independence  by honouring   75 Indian Women in STEAM (fields of Science, Technology, Engineering, Arts and Mathematics) ,a book, ‘She Is–Women in STEAM,’ authored by ElsaMarie D’Silva and Supreet K Singh was unveiled on September 21, 2022 in New Delhi. 

IMPORTANT FACTS -

• The book was unveiled by Principal Scientific Adviser to the Government of India, Prof. Ajay Sood, and the British High Commissioner Alex Ellis.
• The Book is a collaborative project of The Office of the Principal Scientific Advisor to the Government of India in partnership with Red Dot Foundation, British High Commission, and Federation of Indian Chambers of Commerce and Industry (FICCI) FLO.
• The aim of the book series is to showcase more women role models for youth, make visible the leadership of women and generate interest in the Sustainable Development Goals (SDG). 

Sequoia Capital Rajan Anandan appointed as the new chairman of Venture Capital Council

Tags: Economy/Finance Person in news

Sequoia India Managing Director Rajan Anandan has been appointed as the chairman of the eight member VC Council for 2022-24 by the Indian Venture & Alternate Capital Association (IVCA), on 21 September 2022. 

IMPORTANT FACTS -

• The Indian Venture & Alternate Capital Association (IVCA) is apex body of the Venture fund and Alternate capital fund in India.
• The council was formed to strengthen governance practices for VCs and start-ups and continue working with government and its agencies to improve the environment for venture capital in India.
• The Venture Capital and Alternate Investment Fund is regulated by Securities Exchange Board of India (SEBI).

A special tourist train to cover the Ambedkar Circuit

Tags: National National News

Union Tourism and Culture Minister G Kishan Reddy recently announced a special tourist train to cover the “Ambedkar Circuit”.

IMPORTANT FACTS -

About Ambedkar Circuit :

• The central government first proposed the Ambedkar Circuit or Panchteerth in 2016.

• Prime Minister  had said the Panchteerth would include-

1. Janma Bhoomi, Ambedkar’s birthplace in Madhya Pradesh’s Mhow; 

2. Shiksha Bhoomi, the place in London where he stayed while studying in the UK; 

3. Deeksha Bhoomi in Nagpur where he embraced Buddhism; 

4. Mahaparinirvan Bhoomi or the place of his demise in Delhi 

5. Chaitya Bhoomi, the place of his cremation, in Mumbai.

• The idea is to attract tourists from beyond the Dalit community, who mostly come to these places for pilgrimage.

• Travel will include food, transportation and entry to the sites.

First Advance Estimates of production of major kharif crops released

Tags: National Economy/Finance National News

First Advance Estimates of production of major Kharif crops for 2022-23 have been released by the Ministry of Agriculture and Farmers Welfare on 21 September.

IMPORTANT FACTS -

• According to the Agriculture and Farmers Welfare ministry, foodgrain production of 149.92 million tonnes is estimated in the kharif season.

• It is higher by 6.98 million tonnes than the average foodgrain production of previous five years’ from 2016-17 to 2020-21.

• The total production of Kharif rice during 2022-23 is estimated to be 104.99 million tonnes, an increase of 4.40 million tonnes over the last five years.

• Maize production in the country is estimated to be a record 23.10 million tonnes during 2022-23, which is higher by 3.21 million tonnes than the average maize production of 19.89 million tonnes.

• The production of Kharif nut/coarse cereals is estimated at 36.56 million tonnes, which is higher by 2.92 million tonnes than the average production of 33.64 million tonnes.

First Advance Estimates of major kharif crops for 2022-23 :

• Foodgrains - 149.92 million tonnes

• Rice  - 104.99  million tonnes

•  Nutri / Coarse Cereals  - 36.56 million tonnes

• Maize - 23.10 million tonnes. (record)

• Pulses - 8.37 million tonnes

• Tur  - 3.89 million tonnes

• Oilseeds - 23.57 million tonnes

• Groundnut  - 8.37 million tonnes

• Soyabean - 12.89 million tonnes

• Cotton - 34.19 million bales (of 170 kg each)

• Jute  & Mesta - 10.09 million bales (of 180 kg each)

• Sugarcane  - 465.05 million tonnes (record)  

Union Minister Anurag Thakur launches capacity building training programme

Tags: National Government Schemes National News

Youth Affairs and Sports Minister Anurag Thakur on 21 September launched a capacity building training programme in New Delhi for 14,000 youth volunteers of Nehru Yuva Kendra Sangathan. 

IMPORTANT FACTS -

• The aim of this ambitious online training program is to enhance the life skills of young volunteers so that they can contribute effectively to national development.

• The content of the training program has been carefully crafted and includes in-depth exercises on communication skills, leadership skills and decision making.

• This will help create the world's largest skilled workforce.

Nehru Yuva Kendra Sangathan :

• It was established in 1972.

• Its objective is to provide rural youth avenues to take part in the process of nation building as well providing opportunities for the development of their personality and skills.

• It is working on various fronts of youth development with various youth programs of the Ministry of Youth Affairs and Sports and special programs in coordination and collaboration with other Ministries.

ICICI Prudential mutual fund launches India’s first Nifty auto Index

Tags: Economy/Finance

The ICICI Prudential Mutual Fund has launched the country’s first auto index fund, the ICICI Prudential Nifty Auto Index Fund.

The fund will track the Nifty Auto Index which has been designed to reflect the performance of the automobiles sector. The index comprises 15 listed companies and represents auto-related sectors such as auto ancillaries and tyres too.

Nifty is an Index of the National Stock Exchange.

Mutual Funds are regulated by Securities Exchange Board of India (SEBI).

IMPORTANT FACTS -

ICICI Prudential Mutual Fund :

•  ICICI Prudential mutual fund is one of the largest Asset management Company in India. 
• It is a joint venture of ICICI Bank and United Kingdom’s Prudential Company.
• Chief executive officer: Nimesh Shah
• Headquarters: Mumbai

Union Ministry of Food Processing & Agriculture launches Convergence Portal

Tags: National Government Schemes National News

The Government launched a Joint Convergence Portal for various schemes of the Ministry of Food Processing and Agriculture on 21st September.

IMPORTANT FACTS -

• The portal has been jointly launched by the Ministry of Agriculture and Farmers Welfare (MoAFW) and the Ministry of Food Processing Industries (MoFPI).

• The portal has been launched between the Agriculture Infrastructure Fund (AIF), Pradhan Mantri Micro Food Processing Enterprises (PMFME) Yojana and Pradhan Mantri Kisan Sampada Yojana (PMKSY).

• The portal was launched in the presence of Union Agriculture Minister Narendra Singh Tomar, Union Food Processing Industries Minister Pashupati Kumar Paras and Minister of State for Agriculture and Farmers Welfare Kailash Chaudhary.

• This initiative is going to add a new chapter in the life of micro units engaged in food processing.

Agriculture Infrastructure Fund :

• It was launched in 2020 as a stimulus package against the Covid-19 crisis.

• Its objective is to facilitate medium-long-term debt financing for investment in viable projects for post-harvest infrastructure management and community farm assets.

Pradhan Mantri Micro Food Processing Enterprises (PMFME) Yojana :

• The Ministry of Food Processing launched the Centrally Sponsored PMFME Scheme on June 29, 2020.

• Its objective is to enhance the competitiveness of existing individual micro enterprises in the unorganized sector of the food processing industry and to promote formalization of the sector.

• Under this scheme, financial, technical and commercial assistance is provided for the up-gradation of micro food processing enterprises in the country.

Pradhan Mantri Kisan Sampada Yojana :

• It is a Central Sector Scheme of the Ministry of Food Processing Industries.

• The objective of the scheme is to create modern infrastructure with efficient supply chain management from farm gate to retail outlet.

Maharashtra govt to float fresh global tender for Dharavi redevelopment

Tags: State News

The Maharashtra government has decided to float fresh global tenders for the redevelopment of Asia's largest slum Dharavi in 600 acres of prime land in the heart of the country's commercial capital Mumbai.

IMPORTANT FACTS -

• New global tenders for Dharavi redevelopment will be invited in the next two-three weeks.

• About 95% of the conditions, norms and concessions will be the same as before.

Dharavi Redevelopment Project :

• The state of Maharashtra had envisaged converting this project with better urban infrastructure.

• This involved resettling 68,000 people, including those in slums and commercial establishments.

• The state had to provide 300 square feet of houses free of cost to the residents there with proof that their slum structure was in existence before January 1, 2000.

• The project was started in 2004 but due to various reasons it could not take off.

About Dharavi :

• Known as one of the largest slums in the world, Dharavi is located in the heart of India's financial capital Mumbai.

• A city within a city, it is an endless stretch of narrow dirty streets, open sewers and cramped huts.

• Although this area of 535 acres is owned by the government, the houses are maintained by the people living there.

• Dharavi Slum came into existence in 1884.

• At that time when people came to Mumbai, they did not have a place to live, they made their houses on government land and started living here and gradually it became a huge slum area.

• It is the largest slum in Asia in terms of population.