GS PAPER II NEWS6
District level committees to monitor electricity related schemes
Why in News
- The Ministry of Power has issued an order to set up such district level committees, which will monitor all the electricity related schemes of the Government of India; Along with this, these committees will also look into the impact on the provision of distribution of electricity services to the people.
Key point
- This measure is being taken to ensure people’s participation and monitoring in the process of power sector reforms and their implementation in the country.
The composition of the committee will be as follows:
- Senior MP of the district: Speaker
- Other MPs of the district: Co-Chair
- District Collector: Member Secretary
- Chairman/Chairman of District Panchayat: Member
- District MLA: Member
- Most senior representatives of CPSUs and NREs of Ministry of Power posted in the respective district or their designated officers for the district.
- Convenor Discom / Concerned Chief Engineer / Superintending Engineer of Power Department
- The order states that the committee of the district shall meet at least once in three months at the district headquarters to review and coordinate the overall development of power supply infrastructure in the district as per the plans of the government, inter alia -In addition, the following aspects will also be included:
- All schemes of Government of India (Electricity related), including their progress and quality issues.
- Development of sub-transmission and distribution network including regular operation and maintenance of the network – identification of further areas where strengthening is required.
- Impact of works on quality and reliability of power supply.
- Standards of performance and quality of consumer service supplies.
- Grievance and Claims Redressal System.
- Any other relevant issue
Importance
- The Central Government has been providing funds under various schemes to strengthen the distribution system in the country.
- In the last five years, about 2 lakh crore rupees have been made available under Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY), Integrated Power Development Scheme (IPDS), Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya) etc., so that every village, every basti and ensure universal access by electrifying every household; And financial assistance has also been provided for setting up more substations, upgradation of existing substations, high tension/ low tension lines, transformers etc. to strengthen the distribution system.
- Recently, the government has approved a new scheme of Rs 3 lakh crore to further strengthen the distribution system where necessary and modernize it to meet the emerging challenges.
GS PAPER II
Rail Kaushal Vikas Yojana (RKVY)
Why in News
- Ministry of Railways, Communications, Electronics & Information Technology has launched Pradhan Mantri Kaushal Vikas Yojana to empower youth by providing entry level training in industry related skills through Railway Training Institutes as part of 75 Years of Azadi Ka Amrit Mahotsav. (PMKVY) launched Rail Kaushal Vikas Yojana in a program organized at Rail Bhawan today.
Key point
- The objective of this initiative is to impart training skills to the youth in various trades to bring about qualitative improvement.
- Training will be provided to 50,000 candidates over a period of three years. Initially, training will be provided to 1,000 candidates. The training will be provided in four trades i.e. Electrician, Welder, Machinist and Fitter and will consist of initial basic training of 100 hours.
- Training programs in other trades will be added by Zonal Railways and Production Units based on the assessment of regional demands and needs. The training will be provided free of cost and the participants will be selected on the basis of marks in Matriculation from the applications received online following a transparent mechanism.
Properties
- 10th pass and candidates between 18-35 years will be eligible to apply. However, on the basis of this training, the participants of the scheme will not have any claim of getting employment in the Railways.
- The program’s curriculum has been developed by PU – Banaras Locomotive Works, the nodal PU for the scheme, which will standardize assessment and maintain a centralized database of participants.
- The scheme is being launched initially for 1,000 participants, which will be in addition to the training provided to the apprentices under the Apprentices Act 1961.
- Trainees will undergo a standardized assessment and at the conclusion of their program will be awarded a certificate in the trade allotted by the National Institute of Rail and Transport.
- They will also be provided with appropriate toolkits for their trade, which will help these trainees to utilize their education and increase their potential for self-employment as well as employability in various industries.
Importance
- 75 Railway Training Institutes spread across the country have been identified with the objective of imparting training in the above trades to involve the youth of the entire country.
- This scheme will not only improve the employability of the youth, but will also upgrade the skills of self-employment. Simultaneously, the skills of the people working with the contractors will also be improved through re-skilling and up-skilling which will contribute to the Skill India mission.
GS PAPER II
Sansad TV
Why in News
- Recently Prime Minister Narendra Modi has launched Sansad TV.
Sansad TV: At a Glance
- Rajya Sabha and Lok Sabha TV were two separate channels which have now been merged.
- Sansad TV will replace Lok Sabha TV and Rajya Sabha TV. Till now these were two separate channels for showing news and proceedings of Lok Sabha and Rajya Sabha. Now both have been merged into Sansad TV.
Will also be available on OTT platform
- The Prime Minister said that in the rapidly changing times, the role of media and TV channels is also changing very rapidly and the 21st century is revolutionizing especially through communication and dialogue. The Prime Minister said that in such a situation it becomes natural that the channels associated with Sansad should also change themselves according to these modern arrangements. The Prime Minister said that I am happy that today a new beginning is being made in the form of Sansad TV. It will also be available on social media and OTT platforms. It will also have an app of its own.
Category
- Sansad TV will be mainly in four categories. It will be based on the functioning of Sansad and democratic institutions, governance and implementation of plans, policies, history and culture of India and issues, interests and contemporary nature.
- It is noteworthy that the decision to merge Lok Sabha TV and Rajya Sabha TV was taken in February, 2021 and the Chief Executive Officer (CEO) of Sansad TV was appointed in March, 2021. Retired IAS officer Ravi Kapoor has been appointed as the CEO of ‘Sansad TV’. Manoj Arora, Joint Secretary in the Lok Sabha Secretariat, has become its OSD.
GS PAPER III
National Asset Reconstruction Company
Why in News
- The Union Finance Ministry addressed the media about a cabinet decision, in which they talked about the creation of 2 companies.
- Key point
- Asset Reconstruction Company: National Asset Reconstruction Company Limited (National Asset Reconstruction Company Limited – NAARCL) will aggregate the NPSs in the Bank’s Balance Sheet (for which full provision has been made) and will manage and dispose of them in a professional manner, thereby improving the efficiency of the Banks. The balance sheet will be cleared. Public sector banks and financial institutions can hold up to 51% ownership in NARCL.
- India Debt Resolution Company Limited: Public sector banks and financial institutions will hold maximum 49 percent stake in India Debt Resolution Company Limited (Bharat Debt Resolution Company Limited) and the rest will be open to the private sector.
- Banks will be paid 15 per cent in cash for NPAs based on some appraisal, with the remaining 85 per cent in the form of security receipts.
Center’s 4R Strategy – Recognition, Resolution, Recapitalization and Reform
- Finance Minister Nirmala Sitharaman informed that the asset quality review of banks was conducted in the year 2015 to clean up the bank balance sheets and make thorough provisions, which revealed the high incidence/prevalence of Non-Performing Assets (NPAs), was detected. The Center had then offered a 4R strategy of Recognition, Resolution, Recapitalization and Reforms.
- Banks have recovered a total of Rs 5,01,479 crore in the last 06 years, out of which Rs 3.1 lakh crore has been recovered since March, 2018. The Finance Minister announced that, in 2018-19 alone, a record Rs 1.2 lakh crore has been recovered.
- Out of total Rs.5,01,479 crore recovered by banks during the last 06 years, Rs.99,996 crore including the amount recovered from the write-off of assets.
- The Central Government has allocated Rs 90,000 crore in the year 2017-18 and Rs 1.06 lakh crore in the year 2018-19 and Rs 70,000 crore in the year 2019-20 and Rs 20,000 crore in the year, 2020-21 and for the current financial year 21-22. 20,000 crore has been invested for
- In the year 2018, out of 21 public sector banks, only two were in profit. But in the year 2021, only two banks made losses.
Banking reform
-
- Managerial Improvements
- bank merger
- Bringing co-operative banks under the purview of RBI
- Multi-supervisory framework for primary co-operative banks
- Creating a bank board bureau
- Strengthening risk management practices
- Willful defaulters prevented from entering the capital market
- Six new DRTs installed for faster recovery
- Frauds of Rs 100 crore or more were detected with an average lag of 57 months
- Fraud detection and prevention efforts launched
- The Fugitive Economic Offenders Act, 2018 has also yielded many fruitful results.
- The Finance Minister stated that a total of Rs 58,697 crore has been raised by public sector banks in the form of debt and equity.
Background
- The proposal to set up a bad bank was announced by the Union Finance Minister during his Union Budget 2021-22 speech.
What is Bad Bank?
- This bad bank is a specialized bank, an asset reconstruction program set up to recover stressed or bad loans from other banks. This bad bank will enable other banks to focus on their core functions (competencies).
GS PAPER III
Production Linked Incentive (PLI) Scheme
- Why in News
- The Union Cabinet on September 15, 2021 has given its approval for the Production Linked Incentive (PLI) scheme of Rs 26,058 crore for the Auto, Auto Parts and Drone Industry.
Main point
- The approved PLI scheme has a budgetary provision of Rs 26,058 crore, out of which Rs 25,938 crore has been earmarked for the auto sector and Rs 120 crore for the drone industry.
- Giving information about this scheme, Union Minister Anurag Thakur said that the automobile industry/industry contributes 35% to the manufacturing GDP of India. There is a need to increase India’s participation in the global automotive trade.
Importance
- Giving information about this scheme, it said that, it will increase the manufacturing capacity of India.
- Through the production linked incentive scheme, the auto sector will create employment for over 7,00,000 people.
- A total of 50 auto component/parts manufacturers, 10 vehicle manufacturers and 5 new non-automotive investors will be benefited by this scheme.
- This PLI scheme for the auto sector approved by the Union Cabinet will encourage the introduction of global supply of advanced automotive technologies in India.
Salient Features of the Scheme
- This newly announced Production Linked Incentive Scheme will be effective for a period of 5 years from FY 23 and its base year for eligibility criteria will be 2019-20.
- Under Auto Components, a total of 22 components/components will be covered – Hydrogen Fuel Cell, Flex-Fuel Kit, Hybrid Energy Storage System and Electric Vehicle Parts, including Drive Train, Charging Port, Electric Compressor, Electric Vacuum Pump, among others. Huh. .
- This PLI scheme for the auto sector is a part of the overall PLI incentive that was announced in the Union Budget, 2021-22 for 13 sectors.