April 8th Current affairs

1. India-Seychelles High Level Virtual Event.

IN NEWS:

Prime Minister Shri Narendra Modi will take part in a high level virtual event with the President of the Republic of Seychelles H.E. Wavel Ramkalawan on April 8, 2021 to inaugurate a range of Indian projects in Seychelles.

Key features of event:

• Joint e-inauguration of the new Magistrates’ Court Building in Seychelles;
• Handing over of a Fast Patrol Vessel to Seychelles Coast Guard;
• Handing over of a 1 MW Solar Power Plant;
• Inauguration of 10 High Impact Community Development Projects (HICDPs).
• The new Magistrates’ Court Building in the capital city Victoria, is India’s first major civil infrastructure project in Seychelles built with grant assistance.
• The 50-m Fast Patrol Vessel, which is a modern and fully equipped naval ship, has been made in India by M/s GRSE, Kolkata, and is being gifted to Seychelles under Indian grant assistance to strengthen its maritime surveillance capabilities.
• The 1 MW ground-mounted Solar power plant at the Romainville Island of Seychelles has been completed as part of the ‘Solar PV Democratization Project’ being implemented in Seychelles by the Government of India under grant assistance.
• Seychelles occupies a central place in the Prime Minister’s vision of ‘SAGAR’ – ‘Security and Growth for All in the Region’.
• The inauguration of these key projects demonstrates India’s privileged and time-tested role as a reliable partner of Seychelles for meeting its infrastructural, developmental and security requirements.

SOURCE: PIB

2. INCENTIVES FOR SOLAR ENERGY SECTOR.

IN NEWS:

Union Cabinet approves Production Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights) and  ‘National Programme on High Efficiency Solar PV Modules’ with an out lay of RS.6238cr and Rs.4500cr.

Key points:

In the Union Budget 2021-22, presented on 1st February 2021, the Finance Minister announced an outlay of INR 1.97 Lakh Crores for the Production-Linked Incentive (PLI) Schemes for 13 key sectors, to create national manufacturing champions and generate employment opportunities for the country’s youth.

This means that minimum production in India as a result of PLI Schemes is expected to be over US$ 500 billion in 5 years.

Minimum production in India as a result of PLI Schemes is expected to be over

US$ 500 billion in 5 years.

Nine PLI schemes have been approved by the cabinet so far.

IMPORTANT INFO:

PLI(PRODUCTION LINKED INCENTIVE) Scheme:

• PLI Schemes are a cornerstone of the Government’s push for achieving an Atmanirbhar Bharat.
• OBJECTIVE: To make domestic manufacturing globally competitive and to create global Champions in manufacturing.
• The strategy behind scheme is to offer companies incentives on incremental sales from products manufactured in India, over the base year.
• They have been specifically designed to boost domestic manufacturing in sunrise and strategic sectors, curb cheaper imports and reduce import bills, improve cost competitiveness of domestically manufactured goods, and enhance domestic capacity and exports.
• The first three PLI Schemes were approved earlier in March, 2020 and these were followed by another 10 New PLI Schemes in November, 2020. Of these, the previous three Schemes have been notified, and six of the ten New Schemes havealso been approved by the Cabinet as below:
• Electronic/Technology Products – MeitY(notified on 3 March 2021)
• Pharmaceuticals drugs – D/o Pharmaceuticals(notified on 3 March 2021)
• Telecom & Networking Products –  D/o Telecommunications(notified on 24 Feb 2021)
• Food Products  -Ministry of Food Processing Industries
• White Goods (ACs & LED) – DPIIT
• High Efficiency Solar PV Modules  -MNRE

Another four Schemes are in process of obtaining Cabinet approval as below:

1. Automobiles & Auto Components – D/o Heavy Industry
2. Advance Chemistry Cell (ACC) Battery – D/o Heavy Industry
3. Textile Products: MMF segment and technical textiles – M/o Textiles
4. Specialty Steel  -M/o Steel

 WHITE GOODS AND BROWN GOODS:

• White goods are large home appliances such as stoves (British: cookers), refrigerators, freezers, washing machines, tumble driers, dishwashers, and air conditioners. They are large electrical goods for the house which were traditionally available only in white. Even though you can purchase them today in a wide range of different colors, they continue being called white goods.
• Major appliances – consumer durables made of enamel-coated sheet steel – are the same as white goods.
• The term may also refer to white fabrics, especially linen or cotton – articles such as curtains, towels, or sheets that historically used to be made of white cloth.
• In the beverage industry, white goods are colorless spirits, such as vodka or gin.

White goods vs. brown goods

The term contrasts with brown goods, which are relatively light electronic consumer durables such as computers, digital media players, TVs and radios.

SOURCE:TH

3. MoU between India and Japan for Academic and Research Cooperation and Exchange.

IN NEWS:

The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, is apprised of a Memorandum of Understanding (MoU) signed between National Atmospheric Research Laboratory (NARL), Dept of Space, Government of India and Research Institute for Sustainable Humanosphere (RISH), Kyoto University, Kyoto, Japan for Academic and Research Cooperation and Exchange on November 4, 2020 and November 11, 2020 at respective institutes and exchanged by post.

KEY POINTS:

Objective:

• This MoU shall enable NARL and RISH to continue their cooperation in areas of atmospheric science and technology, collaborative scientific experiments/campaigns and related modelling studies utilising the research facilities of RISH and NARL, exchange of scientific materials, publications and information, joint research meetings and workshops, exchange of faculty members, students and researchers.
• This MoU would lead to mutual utilization of facilities such as the Middle and Upper atmosphere (MU) radar in Shigaraki, Japan, the Equatorial Atmosphere Radar (EAR) in Kototabang, Indonesia and complementary instruments available from RISH, and the Mesosphere-Stratosphere-Troposphere (MST) radar and complementary instruments available at NARL.

BACK GROUND:

• NARL and RISH have been collaborating in the area of atmospheric science and technology as well as exchange of scientists.
• This arrangement was formalised in 2008 through an MoU. The above MoU was renewed in the year 2013.
• A fresh MOU to promote collaborative research, as per the new guidelines, was signed in November 2020 by both sides and exchanged.
• NARL scientists worked as resource persons in the international school on atmospheric radar conducted by RISH.
• A team of Professors and Researchers of Kyoto University visited NARL and conducted focused workshop to strengthen cooperative research being carried out by the two institutes.

SOURCE:PIB

4. Union Minister Narendra Singh Tomar launches Madhukranti portal and Honey Corners of NAFED in New Delhi.

IN NEWS:

Agriculture and Farmers’ Welfare Minister Narendra Singh Tomar today launched Madhukranti portal and Honey Corners of National Agricultural Cooperative Marketing Federation, NAFED in New Delhi.

KEY POINTS:

The portal enables consumers to know the source of honey and assure quality of the products.

Honey Mission will lead to increase in income of farmers, employment generation and increase in exports.

Madhukranti portal is an initiative of National Bee Board (NBB), Ministry of Agriculture and Farmers Welfare under National Beekeeping & Honey Mission (NBHM).

This portal is being developed for online registration to achieve traceability source of Honey and other beehive products on a digital platform.

The technical and banking partner for development of this digital platform is Indian Bank.

An MoU between NBB and Indian Bank was signed for this project.

Honey Mission will lead to increase in income of farmers, employment generation and increase in exports.

 Sweet Revolution should spread all over the country and Indian honey should meet global standards.

For marketing support to the FPOs, NAFED has developed 14-15 Honey Corners, one each in 5 NAFED Bazaar at Ashram, New Moti Bagh and East of Kailash, Panchkula and Mussoorie in their Bazaar/Retail Stores.

More Honey Corners will be developed by NAFED in most of the upcoming major 200 NAFED Stores to promote market support for honey & other beehive products.

IMPORTANT INFO:

National Beekeeping & Honey Mission (NBHM)

• It is a Central Sector component under the existing vertical “Mission on Integrated Development of Horticulture (MIDH)”
• The scheme also aims to create awareness about scientific bee keeping under:
• Mini Mission-I: post-harvest management of beekeeping, beehive products, including collection, processing, storage, marketing, value addition, etc.
• Mini Mission-II: Research & Technology generation in beekeeping; and
• Mini Mission-III: Rs 150.00 Crores has been allotted to NBHM for 2020-21.

Objectives of National Beekeeping & Honey Mission (NBHM)

• The main objective of NBHM is to:
• Promote holistic growth of beekeeping industry for income & employment generation for farm and non-farm households;
• Enhance agriculture/ horticulture production; and
• Setting up of Integrated Beekeeping Development Centre (IBDC)s/CoE, honey testing labs, bee disease diagnostic labs, custom hiring centres

Significance of National Beekeeping & Honey Mission (NBHM)

• The mission aims for the overall promotion & development of scientific beekeeping in the country to achieve the goal of ‘Sweet Revolution’.
• The projects sanctioned under NBHM are aimed at:
• Awareness & Capacity building in scientific beekeeping,
• Empowerment of Women through beekeeping,

Technology demonstrations on impact of Honeybees on yield enhancement & quality improvements of agriculture/horticulture produce.

SOURCE:PIB.

5. Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021.

IN NEWS:

The President promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 on 4th April 2021.

The Cabinet had approved on 31st March 2021 the proposal to make amendments in the Insolvency and Bankruptcy Code, 2016 (Code), through the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021.

Key takeaways:

• Amendments aims to provide an efficient alternative insolvency resolution framework for corporate persons classified as micro, small and medium enterprises (MSMEs) under the Code, for ensuring quicker, cost-effective and value maximising outcomes for all the stakeholders, in a manner which is least disruptive to the continuity of MSMEs businesses and which preserves jobs.
• It is expected that the incorporation of Pre-Packaged insolvency resolution process for MSMEs in the Code will alleviate the distress faced by MSMEs due to the impact of the pandemic & the unique nature of their business, duly recognizing their importance in the economy.
• It provides an efficient alternative insolvency resolution framework for corporate persons classified as MSMEs for timely, efficient & cost-effective resolution of distress thereby ensuring positive signal to debt market, employment preservation, ease of doing business and preservation of enterprise capital.

SOURCE:PIB

6. INS SARVEKSHAK

KEY POINTS:

• INS Sarvekshak, a hydrographic survey ship, is on a deployment to Mauritius for undertaking joint hydrographic surveys along with their Mauritian counterparts.
• During the deployment, training of Mauritian personnel on advanced hydrographic equipment and practices will also be undertaken.
• The ship visited Port Louis, Mauritius and commenced the hydrographic survey of ‘Deep sea area off Port Louis’.
• INS Sarvekshak, a specialised survey ship is fitted with state-of-the-art survey equipment like Deep Sea Multi-Beam Echo Sounder, Side Scan Sonars and a fully automated digital surveying and processing system.
• In addition, the ship carries an integral Chetak helicopter, which would be extensively deployed during the survey.
• INS Sarvekshak has undertaken various foreign cooperation surveys over the last few years in Mauritius, Seychelles, Tanzania and Kenya.