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NATIONAL AFFAIRS
Highlights of the 53rd GST Council Meeting
The 53rd Goods and Services Tax (GST) Council meeting headed by Union Minister Nirmala Sitharaman, Ministry of Finance (MoF) and Ministry of Corporate Affairs(MoCA) was held on 22nd June 2024 in New Delhi, Delhi.
i.The GST council informed that a uniform rate of 5% Integrated Goods and Services Tax (IGST) will be implemented for imports of all ‘Parts, components, testing equipment, tools and toolkits of aircraft.
- The IGST will be implemented irrespective of their Harmonized System (HS) classification.
ii.The council has recommended rolling out biometric-based Aadhaar authentication on an all-India basis in a phased manner.
- This aims to enhance the GST registration process and eliminate fraudulent Input Tax Credit (ITC) claims made using fake invoices.
- According to the provisions of Sub-rule 4A of Rule 8 of the CGST Rules, 2017, applicants for GST registration must now undergo biometric authentication.
About Ministry of Finance
Union Minister– Nirmala Sitharaman (Rajya Sabha- Karnataka)
Minister of State (MoS)- Pankaj Chaudhary (Constituency- Maharajganj, Uttar Pradesh)
>> Read Full News
NITI Aayog Released Report on ‘Electronics: Powering India’s Participation in GVC’
On July 18, 2024, the National Institution for Transforming India (NITI) Aayog released its report titled “Electronics: Powering India’s Participation in Global Value Chains“. This report provides an in-depth analysis of India’s electronics sector, highlighting its potential and challenges, and outlines a roadmap for India to become a global manufacturing hub in electronics.
i.Market Size: The global electronics market is valued at USD 4.3 trillion, dominated by China, Taiwan, the USA (United States of America), South Korea, Vietnam, and Malaysia.
ii.India’s Share: Despite a 4% share in global demand, India’s exports are approximately USD 25 billion annually, representing less than 1% of the global market share.
iii.Ambitious Target: India should aims for USD 500 billion in electronics manufacturing by FY30, creating 5.5 to 6 million jobs, with electronics exports expected to hit USD 240 billion and domestic value addition exceeding 35%.
About National Institution for Transforming India (NITI) Aayog:
Chairman– Prime Minister (PM) of India (Currently Narendra Modi)
Vice Chairperson- Suman Bery
Headquarters– New Delhi, Delhi
Establishment– 2015
>> Read Full News
Union Minister Jitendra Singh Inaugurates Asia’s 1st Health Research-Related “Pre-clinical Network facility” under CEPI
Dr. Jitendra Singh, Minister of State (MoS) Independent Charge (IC), Ministry of Science and Technology (MoS&T), inaugurated Asia’s 1st health research-related “Pre-clinical Network Facility” under the Coalition of Epidemic Preparedness Innovations (CEPI) at the Regional Centre of Biotechnology (RCB) under the aegis of the Translational Health Science & Technology Institute (THSTI) in Faridabad, Haryana.
Note: THSTI is an institute of the Biotechnology Research and Innovation Council (BRIC) under the Department of Biotechnology under MoS&T celebrated its 15th Foundation Day on 15th July 2024.
i.The CEPI has selected THSTI as a pre-clinical network laboratory for handling Biosafety level 3 (BSL-3) pathogens.
iiThis facility is the 9th pre-clinical network laboratory in the world globally, joining others in the United States of America (USA), Europe, and Australia.
iii.The facility includes an experimental animal facility, one of the largest small animal facilities, capable of housing about 75,000 mice and other species.
iv.Dr. Jitendra Singh also inaugurated the “Genetically Defined Human Associated Microbial Culture Collection (Ge-HuMic) Facility“, a repository for microbial cultures for research institutions and industries.
INTERNATIONAL AFFAIRS
Overview of EAM, Dr. S. Jaishankar Visit to the Republic of Mauritius from 16th to 17th July 2024
Union Minister Dr. Subrahmanyam Jaishankar, Ministry of External Affairs (MEA), Government of India (GoI) was on a 2-day official visit to the Republic of Mauritius from 16th to 17th July 2024. This marked his 1st bilateral visit to the Republic of Mauritius after being sworn-in as External Affairs Minister (EAM) of India for 2nd consecutive term.
Key Highlights:
i.During his visit, EAM S Jai Shankar held a bilateral meeting with Mauritius PM Pravind Kumar Jugnauth and also conducted separate bilateral meetings with other senior ministers of the Government of Mauritius.
ii.EAM Dr. S Jaishankar and Pravind Kumar Jugnauth, PM of Mauritus virtually inaugurated 12 High Impact Community Development Projects with financial assistance of India.
iii.EAM Dr. S Jaishankar inaugurated the India-Mauritius “Maitree Udyan” and planted a tree in Port Louis, Mauritius.
About Ministry of External Affairs (MEA):
Union Minister- Subrahmanyam Jaishankar (Rajya Sabha member- Gujarat)
Minister of State (MoS)- Pabitra Margherita (Rajya Sabha member- Assam)
>> Read Full News
BANKING & FINANCE
SEBI recognizes BSE Ltd as RAASB and IAASB
The Securities and Exchange Board of India (SEBI) has recognized BSE Limited (formerly Bombay Stock Exchange) as a supervisory body for Research Analyst Administration and Supervisory Body (RAASB) and Investment Adviser Administration and Supervisory Body (IAASB) to oversee their management and administration for a period of 5 years w.e.f. July 25, 2024.
- This recognition has been under regulation 14 of the SEBI ( Research Analyst (RA)) Regulations, 2014 and SEBI (Investment Adviser (IA)) Regulations, 2013.
- This information is provided by SEBI in exercise of powers conferred under Section 11(1) of the SEBI Act, 1992 read with regulation 14 of RA Regulations and IA Regulations.
- The move aims to protect the interests of investors in the securities market and promote the development of, and regulate the securities market.
Background:
On May 24, 2024, SEBI introduced a supervision framework for RAs and IAs. To qualify as a supervisory body, an entity must be a recognized stock exchange with at least 15 years of existence, a minimum net worth of Rs 200 crore, and nationwide terminals.
- Additionally, it must manage investor services through Investor Service Centers (ISCs) in at least 20 cities.
What is the new role?
BSE will develop Bye-Laws, Standard Operating Procedures (SOPs), And Frequently Asked Questions (FAQs) to assist RAs and IAs in smoothly adopting the frameworks established by the RAASB and the IAASB.
Key Points:
i.Applicants for registration or renewal as RAs or IAs must pay administrative fees determined by the RAASB and the IAASB.
ii.SEBI has updated the registration fees for RAs, with the changes taking effect on July 25, 2024.
iii.The combined fees for application, registration, and renewal will remain consistent with the previous fee structure, ensuring no additional financial burden on applicants.
iv.Applications for RA registration submitted before July 25, 2024, will be processed under the old fee structure.
About Securities and Exchange Board of India (SEBI):
SEBI is the regulatory authority for the capital market. It was established as a statutory body in 1992 and the provisions of the SEBI India Act, 1992 (15 of 1992) came into force on January 30, 1992.
Chairperson– Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra
Fintech Startup TechFini Receives NPCI Certification To Operate as UPI Provider
Mumbai (Maharashtra)-based Fintech Startup TechFini has received the certification from the National Payments Corporation of India (NPCI) to operate as a Unified Payments Interface (UPI)-based payment infrastructure provider for banks and fintech companies.
- The NPCI certifications validate TechFini’s commitment to innovation in payments technology and serve as a source of authentication to its customers and partners striving to access secure, reliable, and trustworthy solutions.
i.It enables the startup to operate as an UPI Issuer 2.0, UPI Acquirer 2.0, Issuer of Credit Line on UPI, Acquirer of Credit Line on UPI, and Enabler of RuPay Credit Card and Recurring Mandate on UPI.
ii.It has also been certified for UPI Unified Dispute and Issue Resolution (UDIR) which makes the startup one of the platforms to serve as a game-changer in addressing the complexity of dispute resolution.
iii.With the grant of these certifications, TechFini will collaborate with financial institutions to accelerate their payments capabilities, product journey, and digital growth.
Note: According to NPCI, In June 2024, UPI-based transactions reached over Rs 20 lakh crore, representing a 49% rise year on year and the transaction volume stood at 13,885.1 million.
LIC Partners with IDFC First Bank To Enhance Bancassurance
The Life Insurance Corporation of India (LIC) has partnered with IDFC First Bank Limited, under Corporate Agency Arrangement to enhance bancassurance and to provide life insurance coverage to all by 2047.
- It will benefit more than 1 crore IDFC First Bank customers, who will now be able to purchase LIC policies through the bank.
- The agreement will offer IDFC First Bank’s digitally savvy customers a diverse range of attractive LIC insurance products.
- The LIC’s extensive network with over 3,600 branches and satellite offices, and IDFC First Bank with over 1,000 branches would greatly increase life insurance penetration across India.
Note: LIC is India’s largest insurance company as well as the largest institutional investor with total assets under management worth ₹52.52 trillion as of March 2024. It was headquartered at Mumbai, Maharashtra.
ECONOMY & BUSINESS
FICCI Forecasts India’s GDP Growth Forecast for FY25 at 7%; CPI Inflation Projected at 4.5%
The Federation of Indian Chambers of Commerce & Industry (FICCI)’s Economic Outlook Survey released in July 2024 has projected a 7% annual median Gross Domestic Product (GDP) growth for India in the fiscal year 2024-25(FY25). This forecast presents a growth estimate range from 6.6% to 7.5%.
- The median GDP growth is estimated at 6.8% in first quarter (Q1) (April-June) FY25 and 7.2% in second quarter (Q2) (July-September) of FY25.
- The median forecast for Consumer Price Index (CPI) based inflation has been put at 4.5 per cent for 2023-24, with a minimum and maximum range of 4.4 per cent and 5.0 per cent respectively.
About the Survey:
i.The FICCI Economic Outlook Survey was conducted in the month of July 2024 and drew responses from leading economists representing industry, banking and financial services sector.
ii.The economists have shared their forecast for key macro-economic variables for FY25 and for Q1 and Q2 of FY25.
Sectoral Growth Estimates:
i.Agriculture: FICCI stated that the median growth forecast for agriculture and allied activities will likely be at 3.7% for FY25, up from 1.4% reported in the FY24.
- The receding El Nino effect with expectation of a normal southwest monsoon is predicted to be favourable for agricultural production.
ii.Industry and Services: Industry is expected to grow by 6.7% while services is expected to grow by 7.4% in FY25.
Other Highlights:
i.Inflation: Headline retail inflation peaked at 5.1% in June 2024, with anticipated easing in food prices in the second quarter amid market reach of Kharif output (Q2FY25/July –September).
ii.Repo rate: Economists predict the policy repo rate to moderate to 6% by the end of the fiscal year, with an estimated range of 5.5% to 6.25%.
iii.Export and Import Projections: The survey forecasts exports to reach USD 455 billion and imports to hit USD 725.0 billion for 2024-25.
- The Current Account Deficit (CAD) as a percentage of GDP is projected at 1.0% for the fiscal year.
- The USD/INR exchange rate are expected to be 83.5 by the end of the FY25.
GRSE Signed Rs 840 Crore Deal with NCPOR for Ocean Research Vessel
Indian Defence Public Sector Unit (PSU), Garden Reach Shipbuilders and Engineers Limited (GRSE) signed an agreement worth Rs. 839.55 Crores. with the National Centre for Polar and Ocean Research (NCPOR) for the construction of the Ocean Research Vessel (ORV) in 36 months.
- This marks a significant milestone for India’s Aatmanirbharata initiative (self-reliance) in maritime technology.
- GRSE has the necessary expertise in the field of survey vessels for nearly 4 decades now.
- Key Signatories: The contract was signed by Cdr Shantanu Bose, Indian Navy (IN)(Retired), Director (Shipbuilding) at GRSE, and MM Subramaniam, Scientist I/C, Vessel Operation and Management at NCPOR in Goa.
About Ocean Research Vessel:
i.The state-of-the-art oceanographic vessel having 89.5 meter (m) long, 18.8 m wide ship with a depth of 12.5 m and gross weightage of 5,900 tonnes.
ii.It will have maximum of 14 knots and operate depths of 6,000 m. The vessel will have all-weather capability and capacity to carry 34 scientists at a time and is expected to serve India for the next 30 years.
iii.It will be the largest research vessel to be built in an Indian shipyard meant for deep sea exploration.
iv.It is designed specifically for various research tasks, including Underway Swath Mutlibeam (USM)and Geophysical Seismic surveys, Conductivity, Temperature and Depth (CTD) profiling, biological sampling, among others.
- It will also be used for supporting mooring and buoy operations, atmospheric observations, and the deployment of submersibles such as Autonomous Underwater Vehicles(AUVs)and Remotely Operated Vehicles (ROVs).
Points to Note:
i.GRSE delivered the Indian Navy Ship (INS) Sandhayak, the largest survey vessel to be built in the country to the Indian Navy (IN) in December 2023.
ii.It has previously built Marine Acoustic Research Ship (MARS) INS Sagardhwani (A74) and was commissioned in Indian Navy in 1994.
About Garden Reach Shipbuilders and Engineers Limited (GRSE):
Chairman and Managing Director(CMD)- Commodore (Cmde) PR Hari, IN (Retd.)
Headquarter- Kolkata, West Bengal (WB)
Founded – 1884
National Centre for Polar and Ocean Research (NCPOR):
It is an autonomous Research & Development (R&D) institution of the Ministry of Earth Sceinces (MoES), Government of India (GoI). It is responsible for the country’s research activities in the Polar and Southern Ocean realms. It was formerly known as National Centre for Antarctic and Ocean Research (NCAOR).
Chairman- Dr. M. Ravichandran, Secretary, MoES
Headquarters- Vasco-da-Gama, Goa
Established- 25th May, 1998
India’s WPI Inflation Rate Rose to 3.36% in June 2024
According to the data released by the Ministry of Commerce and Industry(MoCI), the annual inflation rate based on the all-India Wholesale Price Index (WPI) stands at 3.36% (Provisional) for June 2024 (over June 2023). The positive inflation rate is primarily due to increases in prices of food articles, crude petroleum, natural gas, mineral oils, other manufacturing sectors, etc.
- This marks the 3rd consecutive month of significant sequential increases. The WPI for June 2024 was compiled at a weighted response rate of 87.8%.
- The WPI Food Index increased to 190.3 in June 2024 from 185.7 in May 2024 and the annual rate of inflation (year-over-year (y-o-y)) rose to 8.68% from 7.40%.
- The Month-over-Month (MoM) change in WPI for All Commodities increased by 0.39% in June 2024 compared to May 2024.
APPOINTMENTS & RESIGNATIONS
ESAF SFB Received Approval from the RBI for Re-appointment of K Paul Thomas as MD and CEO
On 17th July 2024, ESAF Small Finance Bank(ESAF SFB) announced that it has received the approval from the Reserve Bank of India (RBI) for the re-appointment of Kadambelil Paul Thomas as Managing Director (MD) and Chief Executive Officer (CEO) of the bank for next 3 years.
- This final approval was communicated through RBI’s letter dated on 16th May 2024, which was granted under the Banking Regulation Act, 1949.
- In June 2024, K. Paul Thomas was elected the chairman of the Board of Sa-Dhan, the association of microfinance and impact finance institutions.
Note: Sa-Dhan is an RBI appointed Self-Regulatory Organization (SRO) for Microfinance Institutions. Sa-Dhan is the first and largest association of community development finance institutions in India.
About Kadambelil Paul Thomas:
i.K. Paul Thomas is the founder of ESAF Group of Social Enterprises. Initially, he established ESAF as a Non-Government Organisation (NGO) during 1992.
- He launched Micro Enterprises Development (MED) services in 1995, which later resulted in the formation of ESAF Microfinance and Investments Private Limited (MIPL) in 2008.
ii.Prior starting the microfinance program, he had worked with Indian Farmers Fertilizers Co-operative Limited (IFFCO), the world’s largest cooperative owned fertilizer company for 18 years.
iii.He has an extensive experience in management sector for over 32 years, of which more than 25 years are in the microfinance sector.
iv.He is currently serving as the President of Kerala Association of Microfinance Institutional Entrepreneurs (KAMFI). He has also served as one of the board member of apex microfinance bodies like: Microfinance Institutions Network (MFIN).
About ESAF Small Finance Bank (ESAF SFB):
Managing Director (MD) and Chief Executive Officer (CEO) – Kadambelil Paul Thomas
Headquarters- Thrissur, Kerala
Tag line- Joy of Banking
Established- 2017
ACQUISITIONS & MERGERS
CCI approvals on 18 July 2024
The Competition Commission of India (CCI) approved the following proposals on 18 July 2024.
i.Acquisition of up to 56% shareholding of Ismartu India Private Limited by Dixon Technologies (India) Limited
ii.Acquisition of ordinary shares of Berhyanda Limited and Berhyanda MidCo Limited by Platinum Poppy C 2024 RSC Limited (Platinum Poppy).
iii.Acquisition of Arjas Steel Private Limited and Arjas Modern Steel Private Limited by The Sandur Manganese & Iron Ores Limited and BAG Holdings Private Limited.
About the Competition Commission of India (CCI):
CCI is a statutory body established in 2003 under the Competition Act of 2002 and has been operational since 2009.
Chairperson– Ravneet Kaur
Headquarters– New Delhi, Delhi
>> Read Full News
SCIENCE & TECHNOLOGY
ISRO Scientists Generated 1st Complete Undersea Map of Ram Setu
Indian Space Research Organisation (ISRO) Scientists have successfully generated the 1st undersea map of the submerged Ram Setu or Adam’s Bridge with the help of National Aeronautics and Space Administration (NASA)’s ICESat-2 (short for Ice, Cloud and land Elevation Satellite),
The map was revealed by the Scientists from ISRO’s Jodhpur(Rajasthan) and Hyderabad (Telangana) National Remote Sensing Centre(NRSC).
About Ram Setu Bridge:
i.The bridge is 29 meters (m) long and 8 m above the seabed and 1.5 kilometer (km) wider.
ii.The bridge is located between Mannar Island, off the northwest coast of Sri Lanka, and Rameswaram Island, in India.
iii.The bridge connects Dhanushkodi, Tamil Nadu (TN) in India to Talaimannar islands in Sri Lanka.
About the undersea map of Ram Setu:
i.The map was generated using the advanced Green laser technology from ICESat-2 which allowed for deeper penetration, detecting the seafloor upto 40 meters deep.
- Researchers acquired around 0.2 million photons from ICESat-2, which provided in-depth information important for creating high-resolution bathymetric data.
ii.The released map is of a 10 meter resolution map created using the data collected over the period of 6 years between October 2018 and October 2023.
Key Findings:
i.The team, led by Giribabu Dandabathula, uncovered 11 narrow channels with a depth of 2 to 3 m that allow water to flow between Gulf of Mannar and Palk Strait.
ii.The research found that Adam’s Bridge to have a volume of nearly 1km cube, with only 0.02% of this volume above sea level.
- According to the Optical satellite imagery verification, the pathway is 99.98% submerged in shallow and super-shallow water.
ii.Researchers have used 3D derived parameters such as: contours, slope analysis, and volumetric to determine the current physical characteristics of the bridge.
iii.Scientists from ISRO observed that there is an asymmetry of transverse slopes to the base on both sides of the Ram Setu’s bridge which indicates towards dominant transgression of material energy from the waters of the Gulf of Mannar compared to the Palk Strait.
Cultural Significance of Ram Setu:
i.The bridge holds great cultural significance for the people of India. According to Indian mythological epic Ramayana, the bridge was formed by Lord Ram’s Vanar sena to reach Sri Lanka to rescure Goddess Sita, who got kidnapped by Ravanna, the King of Lanka.
ii.Until the 9th century A.D., the bridge was referred as ‘Sethu Bandhai’ by Persians.
iii.As per the temple records in Rameswaram, the bridge was initially located above sea level and served as a vital link until 1480 when it was destroyed by a powerful storm.
About Indian Space Research Organisation(ISRO):
Chairman- Sreedhara Panicker Somanath
Headquarters– Bengaluru, Karnataka
Established– 1969
ENVIRONMENT
‘Phlogacanthus Sudhansusekharii’: New Plant Species Discovered in Arunachal Pradesh 
Researchers from the Botanical Survey of India (BSI) have discovered a new plant species named ‘Phlogacanthus Sudhansusekharii’ in the Itanagar Wildlife Sanctuary, in Papum Pare district, Arunachal Pradesh (AR).
- The new plant species has been named after Dr Sudhansu Sekhar Dash, a Scientist at the BSI, in recognition of his significant contribution to plant and ecological research in the Indian Himalayan region.
- The detailed research findings were published by authors Samrat Goswami and Rohan Maity in the Indian Journal of Forestry.
About Phlogacanthus Sudhansusekharii:
i.Phlogacanthus Sudhansusekharii belongs to the family ‘Acanthaceae’ and the genus ‘Phlogacanthus’.
ii.It is closely related to Phlogacanthus Guttatus (Wall) Nees, but differs in physical features, mainly in the form and size of the calyx, staminodes, and corona colour.
iii.In India, the Phlogacanthus genus consists of 13 species, the majority of which are found in the northeastern and eastern Himalayan states.
About Arunachal Pradesh (AR):
Chief Minister (CM) – Pema Khandu
Governor – Kaiwalya Trivikram Parnaik
Capital – Itanagar
Wildlife Sanctuaries – D’Ering Memorial (Lali) Wildlife Sanctuary, Kane Wildlife Sanctuary
OBITUARY
Padma Awardee & Renowned Cardiac Surgeon Dr MS Valiathan Passed Away
Professor Marthanda Varma Sankaran Valiathan (M.S Valiathan), a Padma Awardee, a renowned cardiologist, passed away at 90 in Manipal, Karnataka. He was born in 1934 in Mavelikkara, Alappuzha District, Kerala.
About Dr. M.S Valiathan:
M.S Valiathan pioneered biomedical research in India and was credited with the development of artificial heart valves, blood bags, oxygenators, vascular grafts etc.
i.He was the Founder-Director of Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), Trivandrum, Kerala from 1974-1994.
- He was the team leader in developing the indigenous prosthetic valves, a mechanical implanting valve for Cardiology patients.
iii.He was the 1st Vice-Chancellor (VC) of the Manipal Academy of Higher Education (MAHE) at Manipal University in 1994.
- He was also the Chairman of the Task Force in Ayurvedic Biology of the Department of Science and Technology and an Honorary Advisor at the Manipal University.
iv.He served as the President of the Indian National Science Academy (INSA); a member of the Science Advisory Committee(SAC) to the Indian Cabinet.
v.He also served as the President of the Association of Indian Universities(AIU) and he was an honorary consultant in cardiac surgery to the Armed Forces.
Awards/Honours:
i.The Government of India(GoI) honoured M.S Valiathanwith the Padma Bhushan in 1990 and Padma Vibhushan in 2005 for his contributions in the medical field.
ii.In 1991, he received Shree Dhanwantari Puraskar from the INSA. He was also the recipient of the Dr BC Roy National Award, R D Birla National Award and Om Prakash Bhasin National Award.
iii.He was bestowed the Hunterian Professorship of the Royal College of Surgeons of England, the United Kingdom (UK).
iv.The French Government honoured him with a Chevalier in the order of Palmes Académiques in 1999.
v.He received the Dr. Samuel P. Asper International Award for his contributions to international medical education, from Johns Hopkins University, the United States of America (USA) in 2009.
STATE NEWS
Haryana Cabinet Approves IT Saksham Yuva Scheme To Provide 5,000 Jobs in First Phase
On July 15 2024, The Haryana Cabinet approved the launch of the ‘IT Saksham Yuva Scheme’ to provide job opportunities to 5000 youth in the first phase. It is also named as ‘Saksham Yuva 5000 Job Scheme’.
About IT Saksham Yuva Scheme:
i.Objective: This scheme has been designed in accordance with the ‘Mission 60000’ which was announced during the 2024-25 budget speech, aiming to give employment to at least 60,000 young individuals from poor families.
ii.Eligibility: The employment will be provided to the youths who are graduate or postgraduate applicants with Information Technology (IT) backgrounds under this scheme.
- The aspirants must complete the Haryana IT programme (specially developed short-term courses) for at least 3 months before being deployed in various departments, boards, corporations, districts, registered societies, and other Haryana-based or private entities.
iii.Remuneration: The participants will receive Rs 20,000 per month for the first six months, followed by Rs 25,000 per month from the seventh month onwards. If not deployed, individuals will receive a monthly unemployment stipend of Rs 10,000.
iv.Training: The training agencies will be Haryana State Electronics Development Corporation Limited (HARTRON), Haryana Knowledge Corporation Limited (HKCL), and Shri Vishwakarma Skill University (SVSU) or any other agency authorised by the government.
v.Certificate: Being the state university, SVSU will be responsible for issuing the passing/completion certificates in accordance with the Haryana Skill Development Mission (HSDM) guidelines.
Other Cabinet Approvals:
i.The Haryana cabinet approved an amendment to the Haryana Sikh Gurdwaras (Management) Act, 2014, to improve the credentials for the appointment of the chairman of the Haryana Sikh Gurdwara Judicial Commission (HSGJC).
- Aim: To ensure more effective and authoritative supervision of gurdwaras and gurdwara properties within Haryana.
- The judge of the high court can also be appointed as the chairman of the (HSGJC) and the maximum age limit of 65 years set for the chairman’s appointment has also been removed.
ii.The state cabinet gave approval for amendment in Haryana Sikh Gurdwara Management Committee (Delimitation of Wards and Election) Rules, 2023. The cabinet also granted approval to bring an ordinance to amend the Haryana Village Common Lands (Regulation) Act 1961.
iii.The Mukhya Mantri Shehri Awas Yojana(MMSAY) and Mukhya Mantri Gramin Awas Yojana(MMGAY) have been approved to give housing to the urban and rural poor. Both the scheme will be implemented for 2024-25 and 2025-26.
About Haryana:
Chief Minister (CM) – Nayab Singh Saini
Governor – Bandaru Dattatreya
Capital – Chandigarh
Wildlife Sanctuaries – Chhilchhila Wildlife Sanctuary, Nahar Wildlife Sanctuary
Airports – Ambala Air Force Station, Hisar Airport
Maharashtra CM Eknath Shinde Announces ‘Ladka Bhau’ Job Training & Stipend Scheme For Youth
Maharashtra Chief Minister (CM) Eknath Shinde announced a new job training and stipend scheme for Maharashtra’s youth named ‘Ladka Bhau Yojana’, a part of the ‘Mukhya Mantri Yuva Karya-Prashikshan Yojana’ at Pandharpur in Solapur district, Maharashtra during the Ashadhi Ekadashi celebrations.
- This scheme aims to provide monthly financial support during On-the-Job Training (OJT) in industries, boosting employment prospects for the youth.
About Ladka Bhau Yojana:
i.The scheme is designed to offer financial assistance and apprenticeships funded by Maharashtra government.
ii.The apprenticeship aims to provide candidates with practical work experience while benefiting industries with trained manpower.
iii.The training (6 months) will be provided in both industrial and non-industrial establishments and is aimed to benefit 10 lakh young men in Maharashtra annually.
iv.The initiative targets job seekers who have completed their class 12 education, diploma holders/Industrial Training Institute (ITI), and bachelor’s degree holders/Post Graduation (PG).
Stipend Structure:
The monthly stipend structure of this scheme is based on the educational qualifications:
- Class 12 pass: Rs 6,000 per month
- Diploma holders/ITI: Rs 8,000 per month
- Bachelor’s degree holders/PG: Rs 10,000 per month
Eligibility:
i.Residency: Candidates must be permanent residents of the state of Maharashtra.
ii.Age: The age of the applicant should be between 18 and 35 years old.
iii.Education: The minimum educational qualification should be a 12th pass, diploma/ITI, or graduate.
iv.Students currently enrolled in educational programs are not eligible for the scheme.
Additional requirements:
i.Aadhaar registration, and a bank account linked to Aadhaar.
ii.Candidates must also obtain an employment registration number by registering on the Commissionerate of Skills, Employment, Entrepreneurship, and Innovation web portal.
About Maharashtra:
Capital– Mumbai
Governor– Ramesh Bais
National Parks– Sanjay Gandhi National Park
Wildlife Sanctuaries– Rehekuri Blackbuck Sanctuary and Painganga Wildlife Sanctuary
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