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Export Obligation relaxed for Hotel, Health, Education sectors under EPCG schemeOn January 20, 2023, the Central Government relaxed export obligation under the Export Promotion Capital Goods (EPCG) scheme for the hotel, healthcare, and educational sectors.
Reason behind this Relaxation:
To help the above mentioned sectors to cope with the negative impact of the COVID-19 pandemic on their export activities.
What is the relaxation?
i.For the years 2020-21 and 2021-22, these sectors will not be required to maintain average export obligation for EPCG authorizations issued to them. They will also have the option to extend the export obligation period for a longer duration, without having to pay any additional fees.
ii.The export period would be extended from the date of expiry for the duration equivalent to the number of days the export obligation period falls between February 1, 2020, and March 31, 2022.
iii.This extension will be granted without payment of composition fees.
i.For EPCG authorizations issued for sectors other than Hotel, Healthcare and Educational, the export obligation period may be extended for the number of days the existing export obligation period falls between February 1, 2020, and July 31, 2021.
ii.This extension will be granted without payment of composition fees, but with a 5% additional export obligation in value terms on the balance export obligation as on March 31, 2022.
About EPCG scheme:
Administered by the Directorate General of Foreign Trade (DGFT) and governed by the Foreign Trade Policy (FTP) of India, the EPCG scheme is a trade promotion scheme implemented by the Central Government enabling duty-free import of capital goods for the purpose of export production in India.
- It aims to encourage the production of goods for export by providing import duty concessions on capital goods.
Ministry of Consumer Affairs issues new Guidelines for Social Media InfluencersOn January 20, 2023, the Ministry of Consumer Affairs unveiled guidelines ‘Endorsements Know-hows!’ for social-media influencers, including celebrities and virtual avatars, for disclosing the promotional content of the products or services they endorse and their material connections with those.
- Material connection with a brand covers monetary benefits, hotel stay, awards, employment relationships, sweepstakes entries, and media barters.
The guidelines were briefed by the Union Consumer Affairs Secretary Rohit Kumar Singh during a press conference in New Delhi, Delhi
Reason behind this Guideline:
For promotion activities, the use of social media has been increased. So in order to ensure influencers do not mislead their audiences and to avoid unfair trade practices these guidelines have been framed in accordance with the Consumer Protection Act, 2019.
- These guidelines are also aligned with those given by the Advertising Standards Council of India (ASCI).
Violation of Guidelines:
If there are any violations, the penalty prescribed for misleading advertisements under the Consumer Protection Act 2019 will be applicable.
i.The Central Consumer Protection Authority (CCPA) can impose a penalty of up to Rs 10 lakh on manufacturers, advertisers and endorsers and for repeated offences, a penalty of up to Rs 50 lakh can be imposed.
ii.The CCPA can also prohibit the endorser of a misleading advertisement from making any endorsement for up to one year and for subsequent contravention, prohibition can extend up to three years.
- They may go to jail for six months, which can be extended to two years.
i.The disclosures should be in simple and clear language, and should be of a duration that is “hard to miss”
ii.In the case of limited space platforms like Twitter, hashtags with short terms like “ad”, “sponsored”, and “paid” are acceptable.
iii.The disclosures and endorsements should be in the same language and in live streams, disclosures should be displayed continuously and prominently.
iv.In picture endorsements, disclosures should be superimposed on the image big enough for viewers to notice them, whereas for video content, they should be placed in the video and not just in the description. It should be in both audio and video formats.
v.In 2022, the size of the social-media influencer market in India was Rs 1,275 crore and by 2025, it was likely to be Rs 2,800 crore with a compound annual growth rate of about 19-20 percent.
AIF Inaugurates India’s 1st STEM Innovation and Learning Center in Chennai, TN; AIF’s DE launched DSLV MissionThe American India Foundation (AIF) inaugurated India’s 1st STEM Innovation and Learning Centre (SILC) under the scheme of Vanavil Mandram and launched Drone and Satellite Launch Vehicle (DSLV) Mission at the Government Higher Secondary School, MMDA Colony, Chennai, Tamil Nadu (TN).
- Anbil Mahesh Poyyamozhi, Minister for School Education, Government of TN, joined the inauguration virtually.
- The DSLV Mission was mentored and launched by Padma Shri Awardee (2016) Dr Mylswamy Annadurai, The Moon Man of India, Former Director of the Indian Space Research Organisation (ISRO), and Vice President of the State Council for Science and Technology, TN.
This SILC is the first of 4 Centres to come up in Tamil Nadu over the next 2 months.
S. Mars, Chief Educational Officer of Chennai District, Mathew Joseph, Country Director, AIF, D. Baskaran, Head of Innovation & Technology and Regional Manager – South, AIF.
STEM Innovation and Learning Centre (SILC) in Chennai, India:
i. SILC is designed by AIF’s award-winning flagship education programme, Digital Equalizer (DE).
ii. It is designed to serve as a one-stop solution for STEM (Science, Technology, Engineering, and Mathematics) among students and instructors.
iii. SILC introduce students to a Transdisciplinary learning approach through robotics, Artificial intelligence (AI), Space technology, and the STEM Incubation workstation.
- The aim of SILC is to raise curiosity among students in advanced STEM courses.
iv. It consists of a Technology Corner, which is equipped with a smart lab, for Teachers, which will make it easier for teachers to lead techno-pedagogy-enabled classes for the students and to receive training in the DE Way of Teaching (DEWoT),
- DEWoT is a unique method created by AIF to address all types of students in the classroom.
v. The centre also has a Studio Setup to develop high-quality DE Edu reels.
Drone and Satellite Launch Vehicle (DSLV) Mission:
i. DSLV Mission aims to create a platform for students to learn about Drone and Aviation technology through DE’s TLM(Technical License Management).
ii. More than 200 selected students from 12 schools in Chennai, TN, were trained for the mission launch to assemble a drone and a PICO satellite and launch their models on the spot.
India’s Civil 20 Engagement Group Inaugurated at Amritapuri, Kerala
India’s Civil 20 Engagement Group (C20), the official engagement group of India’s G20 (Group of 20) leadership representing the voices of non-profit, voluntary citizens’ groups in service to society, was inaugurated at Amritapuri in Kollam, Kerala.
- The representatives of G20 and C20, government officials and other dignitaries virtually participated in the event.
- Sri Mata Amritanandamayi(Amma), the chair of C20, Amitabh Kant, Former Chief Executive Officer(CEO) of NITI Aayog(National Institution for Transforming India), Shashi Tharoor, Member of Parliament(MP), Anurag Singh Thakur, Union Minister of Youth Affairs & Sports, V Muraleedharan Union Minister of State(MoS) for External Affairs, RN Ravi, Governor of Tamil Nadu and V Sivankutty, Public Education Minister of Kerala were among the participants.
Purpose: To bring the concerns of Civil Society Organisations (CSOs) from around the world to the G20 Summit which is set to take place in New Delhi, Delhi, in September 2023.
Members: Sri M founder of the Satsang Foundation as Participant; Rambhau Mhalgi Prabodhini as Secretariat; and the Vivekananda Kendra, Kanyakumari as Institutional Partner.
C20 will collaborate with hundreds of CSOs from around the world to voice primary and common concerns and to promote sustainable development with the vision of leaving no one behind.
Highlights of the Inauguration event:
i.During the event, Mata Amritanandamayi initiated a Rs 50 crore project to support the welfare of malnourished pregnant women, and disabled people in underdeveloped districts across India and other developing nations.
ii.The project will be led by Mata Amritanandamayi Math(MAM) in collaboration with local CSOs.
Jaipur Literature Festival 2023: 16th edition of the Festival begins in Jaipur, Rajasthan
The Jaipur Literature Festival 2023, the 16th edition of the festival celebrating the power of literature, art and culture with a focus on Indian languages is being held from 19th to 23rd January 2023 in Hotel Clarks Amer in Jaipur, Rajasthan.,
The 16th edition of the festival features a range of women writers and their exemplary works. The keynote address was delivered by Abdulrazak Gurnah, the recipient of the Nobel Prize in Literature (2021), on ‘writing as a form of resistance’.
- Major honours including the Nobel, Booker, International Booker, Pulitzer, Sahitya Akademi, Baillie Gifford, PEN America Literary Awards, and DSC Prize for South Asian Literature will be given out at the festival.
- There will be sessions in five venues featuring 21 Indian and 14 international languages.
CCI approves Internal Reorganisation of Kalyani Group
On 19th January 2023, the Competition Commission of India (CCI) approved the internal recognition of the Kalyani Group’s companies. The deal has been cleared under the green channel route, an automated approval scheme.
- A transaction is considered to be allowed under this framework after being intimated to the fair trade authority if there is no risk of an appreciable adverse effect on competition.
- The current transaction entails the internal reorganisation of 9 Kalyani Group entities under a scheme of amalgamation and arrangement entered between these entities.
- The proposed combination is being pursued with the intention of simplifying the Kalyani Group’s corporate ownership structure.
UN Agencies: Acute Malnutrition Threatens the Lives of 30 Million ChildrenThe United Nations (UN) agencies issued a call to action for the “UN Global Action Plan on Child Wasting” in an effort to accelerate the enactment of timely and decisive measures to safeguard the most vulnerable children in the 15 countries heavily impacted by the unprecedented food and nutrition crisis.
- Acute malnutrition or wasting, affects more than 30 million children in the 15 worst-affected countries.
- Severe wasting, the most dangerous form of undernutrition, affects 8 million of these children.
- In the 15 worst affected countries, 40 million children (under five) live in severe food poverty and 27 million children experience severe food insecurity.
UN Global Action Plan On Child Wasting
i.The Global Action Plan on Child Wasting is a collaborative effort of the Food and Agriculture Organization (FAO), the United Nations High Commissioner for Refugees (UNHCR), the United Nations Children’s Fund (UNICEF), the World Food Programme (WFP), and the World Health Organization (WHO).
ii.The action plan aims to prevent, detect, and treat acute malnutrition among children in the 15 worst-affected countries: Afghanistan, Burkina Faso, Chad, the Democratic Republic of the Congo, Ethiopia, Haiti, Kenya, Madagascar, Mali, Niger, Nigeria, Somalia, South Sudan, Sudan, and Yemen.
- It emphasizes the importance of a multi-sectoral approach to maternal and child nutrition through the food, health, water, sanitation, and social protection systems.
i.Wasting or Acute Malnutrition, is a kind of undernutrition induced by a reduction in food consumption and/or sickness, resulting in rapid weight loss or oedema.
- Children with acute malnutrition have low weights for their heights.
- Child wasting is regarded as the most dangerous form of malnutrition.
ii.Severe wasting is the deadliest form, with severely wasted children 12 times more likely to die than a well-nourished child.
ICGS Shaurya & Rajveer on a 6-day visit to Bangladesh
On 13th January 2023, Indian Coast Guard Ships (ICGS) Shaurya and ICGS Rajveer, 2 vessels of the Indian Coast Guard(ICG) sailed to Chittagong, Bangladesh for a 6-day visit(13th to 19th January 2023) as a part of the close cooperation between the ICG and Bangladesh Coast Guard(BCG).
- The visit aims to enhance cooperative engagements and interoperability under the provisions of the Memorandum of Understanding (MoU) signed between ICG and BCG.
- The visit of the ICGS Shaurya and ICGS Rajveer, the state-of-the-art indigenously built ICGS important part of the Defence Partnership between India and Bangladesh.
i.ICGS Shaurya is an Advanced Offshore Patrol Vessel (AOPV) designed and built by Goa Shipyard Limited.
ii.It operates both Chetak and Advance Light Helicopters (ALH) and has long-range endurance.
i.ICGS Rajveer is an Inshore Patrol Vessel (IPV) designed and built by Garden Reach Shipbuilders, Kolkata, West Bengal.
ii.The ship with advanced navigation and communication equipment, sensors and machinery imparts the capabilities for search and rescue, maritime law enforcement and marine pollution response operations.
i.During the 6-day visit, the Pollution Response Team of ICG conducted a 5-day International Maritime Organisation Level I course on Pollution Response for the first time in Bangladesh for 20 BCG personnel.
- They were also trained on operations of PR equipment onboard ICGS Shaurya and Rajveer.
- The joint exercise was held in the BCG ships to validate the established Standard Operating Procedures (SOPs) in the area of environmental protection and Search and Rescue at the end of the visit.
ii.The 2 ships also hosted 30 students from the Bangladesh Navy School and College in Chittagong.
iii.The commanding officers of ICGS Shaurya and Rajveer held a meeting with Rear Admiral Nazmul Hassan, Commander Chittagong Naval Area and addressed the issues of shared interest related to defence cooperation and maritime security.
BANKING & FINANCE
RBI Data: Indians Remitted Nearly USD 2 Billion Under LRS Scheme in November 2022According to the most recent Reserve Bank of India (RBI) data on “Outward Remittances under the Liberalised Remittance Scheme (LRS) for Resident Individuals,” Indians remitted about USD 1.99 billion in November 2022 under the LRS.
- Outward remittances under LRS increased 29% to USD 1.99 billion from USD 1.54 billion in November 2021.
- Sequentially, the outward remittances under LRS increased by around 3.5%.
The data was released in the January 2023 Bulletin of the RBI.
Liberalised Remittance Scheme (LRS)
i.The Liberalised Remittance Scheme (LRS) of the RBI was launched in 2004, with an initial ceiling of USD 25,000.
- The LRS limit has been gradually revised to align with the current macroeconomic and microeconomic conditions.
ii.The scheme allows all residents, including minors, to freely remit up to USD 250,000 each fiscal year for any permitted current or capital account transaction, or combination of both.
Outward Remittances under the LRS for Resident Individuals
i.According to the RBI data, Indians have remitted around USD 17.28 billion in outward remittances under the LRS to date (until November 2022) in the fiscal year 2022-23 (FY23).
ii.Outflows could reach an all-time high by the end of FY23, accompanied by an increase in international travel.
- Outflows of USD 19.61 billion touched an all-time high in FY22, driven by overseas education and international travel.
iii.Under the LRS, India’s remittances recorded USD 12.68 billion in FY21, a 32.38% decrease from FY20, when remittances were USD 18.76 billion.
iv.Outward remittances suffered setbacks in FY21 as COVID-19 pandemic-related restrictions affected international travel for a longer period of time.
i.Over 50% of all outward remittances made by Indians under the LRS in November 2022 were attributed to international travel.
- Outward remittances for international travel totaled USD 1.03 billion, a 2.25-fold increase from November 2021.
ii.Following international travel, Indians spent the most on maintenance of close relatives, followed by gifts and overseas education.
- In November 2022, the outward remittance made for the maintenance of close relatives was USD 305.35 million.
- This was followed by USD 220.90 million in gifts and USD 211.65 million for overseas education.
Start-up fundraising to Rebound Rapidly: RBI PaperAs per the paper titled ‘What Drives Startup Fundraising in India’ in Reserve Bank of India’s (RBI) January 2023 bulletin, the start-up fundraising in India is expected to rapidly rebound from the macroeconomic disturbances seen over the last 2-3 years.
- The paper is written by Rajas Saroy, Ashish Khobragade, Rekha Misra, Sakshi Awasthy and Sarat Dhal.
i.As per the paper, the concerns about macroeconomic and financial stability may arise due to their rapid integration into global supply chains and finance.
ii.According to data from the National Investment Promotion and Facilitation Agency, there were 107 unicorns as of September 2022, with an aggregate valuation of $341 billion.
iii.Bengaluru (Karnataka), Gurugram (Haryana), and Mumbai (Maharashtra) are the top three cities with the highest number of unicorns in India.
iv.There is a need to keep track of foreign financial flows and the changes in management control arising from that.
v.Establishment of International Financial Services Centres will help in the onshoring of such investments.
Click Here for Official Paper
RBI January 2023 Bulletin: RBI to Direct Inflation Toward a 4% Target by 2024According to the article titled “State of the Economy” published in the “January 2023 bulletin” of the Reserve Bank of India (RBI), the RBI’s 2023 monetary policy objective is to keep inflation within the required tolerance band (2%-6%) and lead it towards the medium-term target of 4% by 2024, which is the second milestone.
- The first monetary policy milestone has been reached, with inflation now falling inside the tolerance band.
i.According to provisional data issued by the National Statistical Office (NSO) on January 12, 2023, Retail inflation, as measured by Year-on-year (y-o-y) fluctuations in the all-India Consumer Price Index (CPI), slowed to 5.7% in December 2022 from 5.9% in November 2022. It was driven by a significant drop in food inflation.
- After remaining above the RBI’s tolerance range of 2%-6% for 10 months, it has fallen below 6% for the second consecutive month.
- Inflation has been declining after reaching 7.4% in September 2022.
ii.In its monetary policy, the RBI projected that headline inflation would be 6.6% in Q3 FY23 and 5.9% in Q4 FY23.
iii..The projected CPI inflation was 5% in Q1 FY24 and 5.4% in Q2 FY24 before declining to the mandated level of 4%.
iv.According to the RBI’s September 2022 monetary policy report, Real Gross Domestic Product (GDP) in FY24 could slow from 7% in 2022–2023 to 6.5%.
v.In 2023, India’s economy, which now surpasses the UK as the world’s fifth largest, will have a USD 3.7 trillion economy at current prices and exchange rates.
vi.According to International Monetary Fund (IMF) estimates, India would rise to fourth place in 2025 and third place in 2027, with a USD 5.4 trillion economy.
vii.The current fiscal year (FY23), which ends in March 2023, saw the Current Account Deficit (CAD) rise to 4.4% of GDP in the July-September quarter, the highest level since the June quarter of 2013.
ECONOMY & BUSINESS
L&T Technology Services Selected as Strategic Engineering Partner to Airbus
L&T Technology Services Limited(LTTS), a subsidiary of Larsen & Toubro Limited(L&T), has been selected as a strategic engineering partner to Airbus for providing Advanced Engineering Capabilities and Digital Manufacturing Services under a multi-year contract.
- LTTS will support Airbus in key verticals and technology for its ongoing Commercial and innovation programs.
- Under this partnership, LTTS will support Airbus’ Numerical Control Programming (NCP) Cluster which includes composite production, trimming & cutting, standard machining, advanced machining, drilling & riveting, control & metrology, fast shop machining and technical support.
LTTS is also a part of the ‘Skywise Partner Program,’ and earlier in 2022, was recognized as a Global Strategic Engineering Supplier under the Airbus EMES3 (Engineering, Manufacturing Engineering and Services Strategic Suppliers) program.
ACQUISITIONS & MERGERS
Canara bank sells its entire 40% Stake in CIBL to SBI Canara Bank is set to sell its entire 40% stake in the Russian joint venture (JV) Commercial Indo Bank LLC (CIBL) to the JV partner State Bank of India (SBI). The cash consideration for the transaction is equivalent to USD 14.67 million. (Rs 114 crore). The transaction is expected to be completed on or before 31st March 2023.
- Post-acquisition, the State Bank of India will hold a 100% stake in CIBL.
- CIBL, incorporated in 2003 in Russia, is a JV between SBI, (60% stake), and Canara Bank(40% stake).
i. The share transaction comes after Canara Bank and SBI signed a share sale agreement for the sale of equity shares in CIBL.
ii. On 30th November 2022, with the approval of the Central Bank of the Russia Federation (Bank of Russia)and based on the share sale agreement, Canara Bank transferred the entire shares it had in CIBL to the SBI.
About Canara Bank:
Non-Executive Chairman- Vijay Srirangan
Headquarters- Bangalore, Karnataka
Tagline- ‘Together we can’
About State Bank of India (SBI):
Chairman- Dinesh Kumar Khara
Headquarters- Mumbai, Maharashtra
Tagline- ‘The Banker to Every Indian’
SCIENCE & TECHNOLOGY
Startup IG Drones develops India’s first 5G-enabled drone, SkyhawkStartup firm IG Drones has developed India’s first 5G-enabled drone namely ‘Skyhawk’ that is capable of vertical take-off and landing (VTOL), and can be used in defence and medical applications, among other sectors.
- It can carry a 10 kg payload and has an endurance of around five hours.
i.These drones can be controlled with much more precision and can be controlled from the command centre directly rather than being on the field.
ii.It uses Artificial intelligence (AI) and thermal imaging capabilities which can monitor border intrusion and also during regular patrolling by the defence forces.
iii.It is IP67 rated and can be controlled via a combination of NavIC + GPS navigational satellites which remain connected in the upper range of 50 to 60 in case of failsafe activation.
iv.The drone is also capable of operating through satellites in case an internet link is not available.
- If 5G services are not available at any locations, they will be downgraded to 3G or 4g.
v.The drone, if operated at its peak speed, can cover almost 100 kms in 12-15 minutes
IG Drones startup is formed out of the Veer Surendra Sai University of Technology (VSSUT) campus in Odisha’s Sambalpur.
Geotail Spacecraft, 1st joint mission of NASA-JAXA, Retires After Data Recorder Failure
Geotail spacecraft, the first joint mission of the National Aeronautics and Space Administration (NASA) and Japan Aerospace Exploration Agency (JAXA) retired after 30 years in orbit. The mission operations of Geotail were ended due to the failure of its remaining data recorder.
- The mission also helped identify the location of a process called magnetic reconnection, which is a major conveyor of material and energy from the Sun into the magnetosphere and one of the instigators of the aurora. This discovery laid the way for the Magnetospheric Multiscale mission, or MMS, which launched in 2015.
- Geotail, which was launched on 24th July 1992 orbited earth and gathered datasets on the structure and dynamics of the magnetosphere, Earth’s protective magnetic bubble.
- Geotail was originally slated for a four-year run, but the mission was extended several times due to its high-quality data return.
- One of Getotail’s 2 recorders failed in 2012 and the 2nd continued until experiencing an anomaly on 28th June 2022.
- Following the failed attempts to repair the recorder, the mission operations ended on 28th November 2022.
FIH Partners with JSP Foundation for Hockey Development and Men’s World Cup The International Hockey Federation (FIH), originally Fédération Internationale de Hockey, has signed a partnership with JSP Foundation, the executing arm of Jindal Steel & Power(JSP) for its development programs.
- FIH will work closely with JSP Foundation on some of its significant hockey development initiatives.
- As a part of this partnership with FIH, The JSP Foundation will become a global partner of the ongoing FIH Odisha Hockey Men’s World Cup 2023 Bhubaneswar-Rourkela.
Note: The Men’s FIH Hockey World Cup, which takes place in 2023, is the 15th edition being played from 13 to 29 January 2023 in Bhubaneswar and Rourkela in Odisha.
i. Creatigies Communications, the company that stitched this partnership, complemented the FIH and the JSP Foundation for this partnership.
ii. The JSP Foundation, a charity that promotes human rights, participates in international sporting events like the FIH Odisha Hockey Men’s World Cup and uses this collaboration to work with other hockey development initiatives around the world.
iii. JSP Foundation spearheads comprehensive community initiatives to assist in addressing some of the enduring social issues in the areas:
- Health and nutrition, water and sanitation, education, skill development, sustainable livelihood & women empowerment, environment & agriculture, sports, art & culture, rural infrastructure, and social inclusion.
- So far, it has improved the Quality of Life for about 1 crore people.
About JSP Foundation:
Chairperson- Shallu Jindal
Headquarters- New Delhi, Delhi
About the International Hockey Federation (FIH):
President- Tayyab Ikram
Chief Executive Officer (CEO)- Thierry Weil
Headquarters- Lausanne, Switzerland
BOOKS & AUTHORS
Union Minister Dharmendra Pradhan launched a book titled “India’s Knowledge Supremacy” by Dr Ashwin Fernandes
On 19th January 2023, Dharmendra Pradhan, Union Minister of Education, launched the book titled “India’s Knowledge Supremacy: The New Dawn” authored by Dr Ashwin Fernandes, the International Indian expat. The thought-provoking book is published by Bloomsbury Prime.
The book was launched at the event organised at Dr Ambedkar International Centre, New Delhi, Delhi.
- Dr Ashwin Fernandes presented the rich educational heritage of India through his book and which covers a lot of aspects of Indian knowledge systems and the evolution of education in India.
- Union Minister Dharmendra Pradhan stated that the world has always benefited from India’s knowledge systems and traditions.
Himachal Pradesh Targets to be 1st ‘Green Energy State’ by 2025Sukhvinder Singh Sukhu, Chief Minister(CM) of Himachal Pradesh(HP) announced that Himachal Pradesh targets to become the “first Green Energy State” by the end of 2025. This will be achieved by harnessing hydro, hydrogen and solar energy and switching on to green products that enhance the premium and advantage in export.
i.The CM also directed all the concerned departments including, Himachal Pradesh State Electricity Board Ltd, (HPSEBL), Himachal Pradesh Energy Development Agency (HIMURJA), Himachal Pradesh Power Corporation Limited (HPPCL) and Department of Energy, to initiate action in this direction and make policy changes, wherever required.
ii.He also recommended opening all the solar power projects(SPP) up to 5 MW capacity for allotment.
iii.The government is set to invest in Solar plants and will install 500 MW Solar projects during the year 2023-24. 200 MW of this would be installed by HPPCL.
iv.CM noted that the Solar projects up to 150 MW capacity would be installed by HIMURJA through private participation. The capacity of the projects will range from 250 KW to 1 MW
Points to note:
i.CM has also directed HIMURJA to develop a mechanism by seeking royalty for solar projects above 3 MW capacity to ensure that the government of HP gets financial benefits.
ii.HIMURJA has been directed to ensure a 5% premium for HP in each solar power project up to 5MW and 10% for projects of more than 5MW.
iii.HPPCL has been directed to appoint a consultant for the preparation of a Detailed Project Report (DPR) within 10 days.
iv.Department of Energy and HPPCL will be identifying the sites in other states where the land is available at discounted rates for installation of the Mega Solar Plant.
v.CM also reviewed the progress of Sutlej Jal Vidyut Nigam Limited (SJVNL) and Kishau Dam Project 660 (MW).
About Himachal Pradesh:
Chief Minister– Sukhvinder Singh Sukhu
Governor– Rajendra Vishwanath Arlekar
Wildlife Sanctuary– Bandli Wildlife Sanctuary; Chail Wildlife Sanctuary
UNESCO heritage site– Great Himalayan National Park Conservation Area; Mountain Railways of India
Ladakh LG RK Mathur launched 14-digit ULPIN in Ladakh
R K Mathur, Lieutenant Governor(LG) of the Union Territory(UT) of Ladakh, launched a 14-digit Unique Land Parcel Identification Number (ULPIN) in Ladakh. The initiative was welcomed by both hill councils of Kargil and Leh.
- The ULPIN would support the digitisation of land records and also reach a conclusive land titling.
- The LG termed ULPIN as a “game changer” and the next step in ‘SVAMITVA’(Survey of Villages and Mapping with Improvised Technology in Village Areas) for digitisation and computerisation of land revenue records.
ULPIN, a part of the Digital India Land Records Modernization Programme (DILRMP), is a Single, Authoritative Source of Truth for information on any parcel of land or property to provide Integrated Land Services to the citizens as well as all stakeholders.
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Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 22 & 23 January 2023|
|1||Export Obligation relaxed for Hotel, Health, Education sectors under EPCG scheme|
|2||Ministry of Consumer Affairs issues new Guidelines for Social Media Influencers|
|3||AIF Inaugurates India’s 1st STEM Innovation and Learning Center in Chennai, TN; AIF’s DE launched DSLV Mission|
|4||India’s Civil 20 Engagement Group Inaugurated at Amritapuri, Kerala|
|5||Jaipur Literature Festival 2023: 16th edition of the Festival begins in Jaipur, Rajasthan|
|6||CCI approves Internal Reorganisation of Kalyani Group|
|UN Agencies: Acute Malnutrition Threatens the Lives of 30 Million Children|
|8||ICGS Shaurya & Rajveer on a 6-day visit to Bangladesh|
|9||RBI Data: Indians Remitted Nearly USD 2 Billion Under LRS Scheme in November 2022|
|10||Start-up fundraising to Rebound Rapidly: RBI Paper|
|11||RBI January 2023 Bulletin: RBI to Direct Inflation Toward a 4% Target by 2024|
|12||L&T Technology Services Selected as Strategic Engineering Partner to Airbus|
|13||Canara bank sells its entire 40% Stake in CIBL to SBI|
|14||Startup IG Drones develops India’s first 5G-enabled drone, Skyhawk|
|15||Geotail Spacecraft, 1st joint mission of NASA-JAXA, Retires After Data Recorder Failure|
|16||FIH Partners with JSP Foundation for Hockey Development and Men’s World Cup|
|17||Union Minister Dharmendra Pradhan launched a book titled “India’s Knowledge Supremacy” by Dr Ashwin Fernandes|
|18||Himachal Pradesh Targets to be 1st ‘Green Energy State’ by 2025|
|19||Ladakh LG RK Mathur launched 14-digit ULPIN in Ladakh|