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The Big Picture: Aspirational Model: Inspiration for the World

Why in News The United Nations Development Programme (UNDP) has lauded India’s Aspirational Districts Programme (ADP), saying that it should...

16 Jun 2021 Growth & Development
India's Ethanol Roadmap

Why in News The central government has released an expert committee report on the Roadmap for Ethanol Blending in India by 2025. The roadmap...

11 Jun 2021 Growth & Development
Fast Tracking Freight in India: NITI Aayog

Why in News NITI Aayog, Rocky Mountain Institute (RMI) and RMI India’s new report, Fast Tracking Freight in India: A Roadmap for Clean and...

10 Jun 2021 Growth & Development
Global Economic Prospects: World Bank

Why in News Recently, the World Bank has released its June 2021 Global Economic Prospects where it has forecast India’s GDP growth to be 8.3%...

10 Jun 2021 Growth & Development
Railways Gets 5 MHz Spectrum

Why in News Recently, the Union Cabinet approved the allotment of 5 MHz spectrum in the 700 MHz frequency band to the Indian Railways for improving...

10 Jun 2021 Growth & Development
The Big Picture: Global Corporate Tax and India

Why in News Recently, the Finance Ministers of the G7 advanced economies secured a landmark deal on taxing multinational companies by fixing a...

09 Jun 2021 Growth & Development
Supersonic Commercial Plane

Why in News The US airline United has announced plans to buy 15 new supersonic airliners and "return supersonic speeds to aviation" in the year...

09 Jun 2021 Growth & Development
Sustainably Developing Andaman & Nicobar

This article is based upon “Developing the sister islands of Indian Ocean” which was published in the Hindustan Times on 03/06/2021. It...

04 Jun 2021 Growth & Development
SDG India Index 2020-21: NITI Aayog

Why in News Recently, the third edition of the Sustainable Development Goals (SDG) India Index and Dashboard 2020–21 was released by NITI...

04 Jun 2021 Growth & Development
Positive Indigenisation List

Why in News The Ministry of Defence (MoD) has notified the second negative import list, now renamed as the ‘positive indigenisation list' of...

02 Jun 2021 Growth & Development
Horticulture Cluster Development Programme

Why in News The Ministry of Agriculture and Farmers Welfare has launched the Horticulture Cluster Development Programme (CDP) in order to promote...

01 Jun 2021 Growth & Development
43rd GST Council Meeting

Why in News Recently, the 43rd Goods and Services Tax (GST) Council meeting was held. This was the first meeting of the GST Council in the...

29 May 2021 Growth & Development
Currency Swap Facility

Why in News Recently, Bangladesh cleared a USD 200 million currency swap facility for Sri Lanka, to help boost its economy. Key...

28 May 2021 Growth & Development
National Mission on use of Biomass in Coal Based Thermal Power Plants

Why in News Recently, the Ministry of Power has decided to set up a National Mission on use of Biomass in coal based thermal power plants. Key...

27 May 2021 Growth & Development
Semiconductor Chips Shortage in Vehicle Manufacturing

Why in News Recently, an unusual shortage of inputs, especially semiconductor chips, has made India-based vehicle manufactures (car manufactures and...

25 May 2021 Growth & Development
FDI Inflow Touches $82 Bn in FY21

Why in News In the Financial Year 2020-21, India sees growth of 10% (to $82 bn) in Foreign Direct Investment (FDI). FDI equity investments rise 19%...

25 May 2021 Growth & Development
MCA 21 Version 3.0: Digital Corporate Compliance Portal

Why in News Recently, the government launched the first phase of the latest update to its digital corporate compliance portal, Ministry of Corporate...

25 May 2021 Growth & Development
Personal Guarantors Liable for Corporate Debt

Why in News The Supreme Court of India has upheld the Central Government 2019 notification that allows lenders to initiate insolvency proceedings...

22 May 2021 Growth & Development
Social Security Code 2020

Why in News The effectiveness of the Social Security Code (SS Code) 2020 in helping the informal workforce is questioned by many. With SS Code...

20 May 2021 Growth & Development
Infrastructure Status for Convention Centres

Why in News The Finance Ministry has granted ‘Infrastructure’ status for exhibition and convention centres. In 2020, the government...

20 May 2021 Growth & Development

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		'title' => 'The Big Picture: Aspirational Model: Inspiration for the World',
		'description' => '<p style="text-align: center;"><iframe width="560" height="315" src="https://www.youtube.com/embed/DM5agxDJ4qI" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<h3>Why in News</h3>
<p>The<a href="/daily-updates/daily-news-analysis/human-development-index-undp" target="_blank" rel="noopener"><strong> United Nations Development Programme (UNDP)</strong></a> has lauded India&rsquo;s <a href="/daily-updates/daily-news-editorials/aspirational-districts-programme" target="_blank" rel="noopener"><strong>Aspirational Districts Programme (ADP)</strong></a>, saying that it should serve as a &ldquo;best practice&rdquo; for other countries where regional disparities in development status persist for many reasons.</p>
<ul style="list-style-type: square;">
<li>An independent appraisal report by the UNDP described it as a very successful model of local area development which has resulted in sectoral growth and improvements in governance and administration.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>UNDP Appraisal Report:</strong> The report was presented by UNDP India Resident Representative to NITI Aayog.
<ul style="list-style-type: circle;">
<li>The UN development body has lauded Indian government's effort that made a difference in the lives of 21% of the country's population.</li>
</ul>
</li>
<li><strong>ADP Principal:</strong> As per the UNDP, ADP is a successful model of local area development aligned to the principle of <strong>&ldquo;leave no one behind&rdquo; &ndash;</strong> the vital core of the<a href="/to-the-points/paper3/sustainable-development-3" target="_blank" rel="noopener"><strong> Sustainable Development Goals.&rdquo;</strong></a></li>
<li><strong>The Third Tier of the Government:</strong> The programme highlights the districts as the third tier of the government and coherently brings focus on it</li>
</ul>
<h3>Aspirational District Programme and UNDP</h3>
<ul style="list-style-type: square;">
<li><strong>Key Areas of Analysis:</strong> UNDP&rsquo;s analysed across the key sectors of the ADP; health and nutrition, education, agriculture and water resources, basic infrastructure, skill development and financial inclusion.
<ul style="list-style-type: circle;">
<li>The programme has been proved as a catalyst for expediting development in the districts.</li>
<li>All the progress of these indicators are captured on the <strong>Champions of Change dashboard</strong> on a real-time basis. Every month, the best performing district of the previous month is found out.</li>
</ul>
</li>
<li><strong>Delta Rankings:</strong> The UNDP report commended the <a href="/daily-updates/daily-news-analysis/delta-ranking-of-the-aspirational-districts" target="_blank" rel="noopener"><strong>Delta Rankings</strong></a> provided on the Champions of Change dashboard.
<ul style="list-style-type: circle;">
<li>Several low performing districts have been successfully pushed ahead to improve their standing in the past three years.</li>
<li>The districts of Simdega (Jharkhand), Chandauli and Sonbhadra (Uttar Pradesh) and Rajgarh (Madhya Pradesh) were found to have <strong>progressed the most since the beginning of the programme.</strong></li>
</ul>
</li>
<li><strong>Best Practices Undertaken under Programme:</strong>
<ul style="list-style-type: circle;">
<li><strong>Learning from Peers:</strong> Making the districts take inspiration from their fellow competitors and making them realise their own calibre.</li>
<li><strong>Assigning Responsibilities to the Districts:</strong> Identifying the areas where the districts lag behind and vesting in them the responsibility of developing innovative ideas to overcome the situation is one of the best practices.</li>
<li><strong>Team Work:</strong> The soul of the programme is teamwork.
<ul style="list-style-type: disc;">
<li>NITI Aayog, the Ministry of Health and Family Welfare, the Ministry of Education, various state governments and their notable officers all together form a team in this ADP.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Improvements in the Aspirational Districts (ADs):</strong>
<ul style="list-style-type: circle;">
<li><strong>Health and Nutrition:</strong> As per the UNDP report, 9.6% more home deliveries are attended by a skilled birth attendant and 5.8% more pregnant women with severe anaemia were treated.</li>
<li><strong>Malaria Elimination:</strong> The <a href="/daily-updates/daily-news-analysis/world-malaria-day-2021" target="_blank" rel="noopener"><strong>Malaria</strong></a> incidents in districts of Chhattisgarh have also been reduced by 71% and 54% and was recommended as one of the &lsquo;best practices&rsquo; found in ADs.</li>
<li><a href="/daily-updates/daily-news-editorials/financial-inclusion-4#:~:text=Financial%20inclusion%20may%20be%20defined,groups%20at%20an%20affordable%20cost." target="_blank" rel="noopener"><strong>Financial Inclusion</strong></a>: The UNDP report found registration of 1,580 more accounts per one lakh population under the <a href="/daily-updates/daily-news-analysis/national-mission-for-financial-inclusion" target="_blank" rel="noopener"><strong>Pradhan Mantri Jan-Dhan Yojana.</strong></a></li>
<li><strong>Assisting Farmers:</strong> GoalMart, an e-commerce portal launched by one of Assam&rsquo;s district administration promotes rural, ethnic and agrarian products of the district in the national and global markets.
<ul style="list-style-type: disc;">
<li>It helped the farmers and retailers during the Covid-19 lockdown and was also profitable for the farmers.</li>
</ul>
</li>
<li><strong>Exports:</strong> The black rice cultivation of one of Uttar Pradesh&rsquo;s districts was a great success.
<ul style="list-style-type: disc;">
<li>The high-quality black rice from the district is now exported to Australia and New Zealand.</li>
</ul>
</li>
</ul>
</li>
<li><strong>ADP&rsquo;s Assistance Amid the Pandemic</strong>
<ul style="list-style-type: circle;">
<li><strong>Assisting the Vulnerable People:</strong> The most vulnerable section amid the pandemic was the senior citizens. The development partners of ADP have reached out to the <a href="/to-the-points/Paper2/elderly-in-india" target="_blank" rel="noopener"><strong>elderly people.</strong></a></li>
<li><strong>Assisting the Doctors of Rural Areas:</strong> Excessive information from various sources created confusion among the doctors of the remote areas.
<ul style="list-style-type: disc;">
<li>At the platform<strong> Omnicuris,</strong> a panel of senior level doctors was created to provide support and the guidance to the block level doctors.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Creating Awareness:</strong> In order to create awareness among the common people, <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/niti-aayog-national-institution-for-transforming-india" target="_blank" rel="noopener"><strong>NITI Aayog</strong></a> along with Bill and Melinda Gates Foundation created the<strong> &lsquo;India fights Covid&rsquo; platform</strong> on which all the practices of <a href="/daily-updates/daily-news-editorials/comprehensive-action-plan-for-covid-19" target="_blank" rel="noopener"><strong>Covid-19</strong></a> management were provided.
<ul style="list-style-type: circle;">
<li>Also, for the NGOs, the <a href="/printpdf/r-d-portal-for-mining-satyabhama" target="_blank" rel="noopener"><strong>NGO DARPAN</strong></a> portal was created to provide assistance to 90000+ NGOs.</li>
</ul>
</li>
<li><strong>Surakshit Hum Surakshit Tum Abhiyaan:</strong> Recently, NITI Aayog and Piramal Foundation launched <a href="/daily-updates/daily-news-analysis/surakshit-hum-surakshit-tum-abhiyan-aspirational-districts" target="_blank" rel="noopener"><strong>&lsquo;Surakshit Hum Surakshit Tum Abhiyan&rsquo;</strong></a> in 112 aspirational districts.
<ul style="list-style-type: circle;">
<li>This drive was launched to assist the administration in providing home care support to Covid-19 patients, who are either asymptomatic or have mild symptoms.</li>
<li>Most of these districts are in Jharkhand, Chhattisgarh, Odisha and Maharashtra.</li>
</ul>
</li>
</ul>
<h3>Challenges</h3>
<ul style="list-style-type: square;">
<li><strong>Lack of Coordination:</strong> ADP is implemented by multiple ministries which leads to a lack of coordination.</li>
<li><strong>More Focus on Quantity:</strong> The Delta ranking is largely focused on assessing quantity (coverage of access) rather than quality.</li>
<li><strong>Geographical and Political Constraints:</strong> It must be noted that most Aspirational Districts are located in remote areas, and some even plagued with <a href="/daily-updates/daily-news-analysis/left-wing-extremism-in-india" target="_blank" rel="noopener"><strong>Left Wing Extremist (LWE)</strong> </a>conflicts which hinder their growth and make it more difficult for any development programmes to be implemented</li>
<li><strong>Data Related Issues:</strong> There may be underreporting or overreporting of data.</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li><strong>Encouraging Developmental Plans:</strong> There is a need to ensure that focus on the developments of these districts is encouraged further.
<ul style="list-style-type: circle;">
<li>The momentum India has gained in expediting growth is maintained as well and keeping the competitive spirits high.</li>
</ul>
</li>
<li><strong>Determining the Time-Frame:</strong> The way forward should be to decide that in what time frame these aspirational districts will achieve their goals. A district shall not remain aspirational for a long time.
<ul style="list-style-type: circle;">
<li>Consuming too much time in achieving goals will defeat the idea of these developmental plans.</li>
</ul>
</li>
<li><strong>Resolving Data Issues:</strong> In order to resolve the issue of under-reporting or over-reporting of the data, the solution is to have third party evaluation so that there are two or three fold rounds of third party survey.</li>
<li><strong>Assistance from Non-Governmental Bodies:</strong> The Government systems can be very well supported by the NGOs and Civil Societies, channelising their energy to identify individual performances of the households.
<ul style="list-style-type: circle;">
<li>Taking advantage of these organisations' reach, even the last household should be covered.</li>
</ul>
</li>
<li><strong>Building Monitoring Capacity:</strong> For strengthening our monitoring system, we also need to focus on building capacity to undertake those monitoring.
<ul style="list-style-type: circle;">
<li>So that the success of the scheme is ensured by more closed and rigorous monitoring.</li>
</ul>
</li>
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		'category_id' => (int) 21,
		'title' => 'India's Ethanol Roadmap',
		'description' => '<h3>Why in News</h3>
<p>The central government has released an expert committee report on the <strong>Roadmap for Ethanol Blending in India by 2025.</strong></p>
<ul style="list-style-type: square;">
<li>The roadmap proposes <strong>a gradual rollout of ethanol-blended fuel</strong> to achieve E10 fuel supply by April 2022 and phased rollout of E20 from April 2023 to April 2025.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About the Report:</strong><br />
<ul style="list-style-type: circle;">
<li>The <strong>Ministry of Petroleum &amp; Natural Gas (MoP&amp;NG)</strong> had instituted an Expert Group to study the issues such as pricing of ethanol, matching pace of the automobile industry to manufacture vehicles with new engines with the supply of ethanol, pricing of such vehicles, fuel efficiency of different engines etc.</li>
</ul>
</li>
<li><strong>Ethanol Blending:</strong> <br />
<ul style="list-style-type: circle;">
<li><strong>About Ethanol:</strong> <br />
<ul style="list-style-type: disc;">
<li>It is one of the principal <a href="/to-the-points/paper3/biofuels-1" target="_blank" rel="noopener"><strong>biofuels</strong></a>, which is naturally produced by the fermentation of sugars by yeasts or via petrochemical processes such as ethylene hydration.</li>
</ul>
</li>
<li><strong>Blending Target:</strong> <br />
<ul style="list-style-type: disc;">
<li>The Government of India has <strong>advanced the target for 20% ethanol blending in petrol (also called E20) to 2025</strong> from 2030.</li>
<li><strong>Currently, 8.5% of ethanol is blended with petrol</strong> in India.</li>
</ul>
</li>
<li><strong>Objectives of Ethanol Blending:</strong> <br />
<ul style="list-style-type: disc;">
<li><strong>Energy Security:</strong> <br />
<ul style="list-style-type: disc;">
<li>Increased use of ethanol can help <strong>reduce the oil import bill.</strong> India&rsquo;s net import cost stands at USD 551 billion in 2020-21.</li>
<li>The E20 program <strong>can save the country USD 4 billion (Rs 30,000 crore) per annum.</strong></li>
</ul>
</li>
<li><strong>Incentives for Farmers:</strong> <br />
<ul style="list-style-type: disc;">
<li>The oil companies procure ethanol from farmers that <strong>benefits the sugarcane farmers.</strong></li>
<li>Further, the government plans to <strong>encourage use of water-saving crops, such as maize</strong>, to produce ethanol, and <strong>production of ethanol from non-food feedstock.</strong></li>
</ul>
</li>
<li><strong>Impact on Emission:</strong><br />
<ul style="list-style-type: disc;">
<li>Use of ethanol-blended petrol <strong>decreases emissions such as carbon monoxide (CO), hydrocarbons (HC) and nitrogen oxides (NOx).</strong></li>
<li>The <strong>unregulated carbonyl emissions</strong>, such as acetaldehyde emission <strong>were, however, higher with E10 and E20</strong> compared to normal petrol. However, these emissions were relatively lower.</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
<li><strong>Recommendations:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Notifying Ethanol Blending Roadmap:</strong> MoP&amp;NG should immediately notify the plan for pan-India availability of E10 fuel by April, 2022 and its continued availability thereafter until 2025 for older vehicles, and launch of E20 in the country in phases from April, 2023 onwards so as to make E20 available by April, 2025.</li>
<li><strong>Augmenting Infrastructure for Oil Marketing Companies:</strong> OMCs will need to prepare for the projected requirement of ethanol storage, handling, blending and dispensing infrastructure.</li>
<li><strong>Expediting Regulatory Clearances:</strong> Currently, ethanol production plants/distilleries fall under the &ldquo;Red category&rdquo; and require environmental clearance under the Air and Water Acts for new and expansion projects. <br />
<ul style="list-style-type: disc;">
<li>This often takes a long time leading to delays.</li>
<li>While several steps have been taken to expedite Environment Clearances (EC) under <strong>the Environment Protection Act</strong> there are few areas of concern which if addressed, will facilitate early setting up of ethanol distillation capacities in the country.</li>
</ul>
</li>
<li><strong>Incentivising Ethanol Blended Vehicle:</strong> Globally, vehicles compliant with higher ethanol blends are provided with tax benefits. <br />
<ul style="list-style-type: disc;">
<li>A similar approach may be followed so that the cost increase due to E20 compatible design may be absorbed to a certain extent, as is being done in some states for promoting <strong><a href="/to-the-points/paper3/electric-vehicles-evs" target="_blank" rel="noopener">Electric Vehicles</a>.</strong></li>
</ul>
</li>
<li><strong>Pricing of Ethanol Blended Gasoline:</strong> For better acceptability of higher ethanol blends in the country, retail price of such fuels <strong>should be lower than normal petrol</strong> to compensate for the reduction in calorific value and incentivize switching to the blended fuel. <br />
<ul style="list-style-type: disc;">
<li>Tax breaks on ethanol as a fuel may be considered by the government.</li>
</ul>
</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Initiatives Already Taken</strong></p>
<ul style="list-style-type: square;">
<li>The <a href="/to-the-points/paper3/biofuels-1" target="_blank" rel="noopener"><strong>National Policy on Biofuels&ndash;2018</strong></a>, provides an indicative target of 20% ethanol blending under the Ethanol Blended Petrol (EBP) Programme by 2030.</li>
<li>The <strong>Union Ministry of Road Transport and Highways</strong> has <strong>mandated stickers on vehicles mentioning their E20, E85 or E100 compatibility.</strong> <br />
<ul style="list-style-type: circle;">
<li>This will pave the way for flex fuel vehicles.</li>
<li>Flex fuel engines can run any ratio of blended petrol from E20 to E100.</li>
</ul>
</li>
<li><strong><a href="/daily-updates/daily-news-analysis/world-environment-day-2021" target="_blank" rel="noopener">E100 pilot project</a>:</strong> It has been inaugurated in Pune.<br />
<ul style="list-style-type: circle;">
<li>TVS Apache two-wheelers are designed to run on E80 or pure ethanol (E100).</li>
</ul>
</li>
<li><strong><a href="/daily-updates/daily-news-analysis/pradhan-mantri-ji-van-yojana" target="_blank" rel="noopener">Pradhan Mantri JI-VAN Yojana, 2019</a>:</strong> The scheme aims to create an ecosystem for setting up commercial projects and boost Research and Development in the 2G Ethanol sector.</li>
<li><strong>GOBAR (Galvanizing Organic Bio-Agro Resources) DHAN Scheme, 2018:</strong> The scheme aims to positively impact village cleanliness and <strong>generate wealth and energy</strong> from cattle and organic waste. <br />
<ul style="list-style-type: circle;">
<li>It also aims at creating new rural livelihood opportunities and enhancing income for farmers and other rural people.</li>
</ul>
</li>
<li><strong><a href="/daily-updates/daily-news-analysis/scheme-for-used-cooking-oil" target="_blank" rel="noopener">Repurpose Used Cooking Oil (RUCO)</a>:</strong> The Food Safety and Standards Authority of India (FSSAI) has launched this initiative that will enable collection and conversion of used cooking oil to biodiesel.</li>
</ul>
</div>
<p><a href="https://www.downtoearth.org.in/blog/energy/amp/india-s-ethanol-roadmap-the-targets-and-challenges-77360" target="_blank" rel="noopener"><strong>Source: DTE</strong></a></p>',
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		'article_id' => (int) 8573,
		'category_id' => (int) 21,
		'title' => 'Fast Tracking Freight in India: NITI Aayog',
		'description' => '<h3>Why in News</h3>
<p><strong><a href="/important-institutions/drishti-specials-important-institutions-national-institutions/niti-aayog-national-institution-for-transforming-india" target="_blank" rel="noopener">NITI Aayog</a>, Rocky Mountain Institute (RMI)</strong> and <strong>RMI India&rsquo;s new report,</strong> Fast Tracking Freight in India: A Roadmap for Clean and Cost-Effective Goods Transport, <strong>present key opportunities for India to reduce its logistics costs.</strong></p>
<ul style="list-style-type: square;">
<li><strong>RMI </strong>is<strong> an independent nonprofit organization</strong> founded in 1982.</li>
</ul>
<div class="border-bg">
<p><strong>NITI Aayog</strong></p>
<ul style="list-style-type: square;">
<li>It is a <strong>public policy think tank of the Government of India,</strong> established with the aim to <strong>achieve sustainable development goals with cooperative federalism</strong> by fostering the involvement of State Governments of India in the economic policy-making process using a bottom-up approach.</li>
<li>It was established <strong>to replace the Planning Commission.</strong> The<strong> Prime Minister</strong> is its <strong>ex-officio chairman.</strong></li>
</ul>
</div>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Growing Freight Transport Demand:</strong><br />
<ul style="list-style-type: circle;">
<li>Due to the rising demand for goods and services,<strong> freight transport demand is expected to grow rapidly in the future.</strong></li>
<li>While freight transport is essential to economic development, it is<strong> plagued by high logistics costs and contributes to rising carbon dioxide emissions and air pollution in cities.</strong></li>
</ul>
</li>
<li><strong>India&rsquo;s Potential:</strong> It has the potential to:<br />
<ul style="list-style-type: circle;">
<li>Reduce its logistics cost by 4% of <a href="/daily-updates/daily-news-analysis/base-year-for-gdp-calculations" target="_blank" rel="noopener"><strong>Gross Domestic Product (GDP).</strong></a></li>
<li>Achieve <strong>10 gigatonnes of cumulative carbon dioxide emissions savings</strong> between 2020 and 2050.</li>
<li>Reduce Nitrogen Oxide (NOx) and <a href="/daily-updates/daily-news-analysis/dashboard-for-monitoring-air-quality" target="_blank" rel="noopener"><strong>Particulate Matter (PM)</strong> </a>emissions by 35% and 28%, respectively, until 2050.</li>
</ul>
</li>
<li><strong>Accommodating More Urban Citizens:</strong><br />
<ul style="list-style-type: circle;">
<li>As India&rsquo;s freight activity grows five-fold<strong> by 2050 and about 400 million citizens move to cities,</strong> a whole system transformation can help uplift the freight sector.</li>
<li>This transformation will be defined by <strong>tapping into opportunities</strong> such as: <br />
<ul style="list-style-type: disc;">
<li>Efficient rail-based transport.</li>
<li>Optimisation of logistics and supply chains.</li>
<li>Shift to electric and other clean-fuel vehicles.</li>
</ul>
</li>
<li>These solutions <strong>can help India save Rs. 311 lakh crore</strong> cumulatively over the next three decades.</li>
</ul>
</li>
<li><strong>Need to Make Freight Transportation Cost Effective:</strong><br />
<ul style="list-style-type: circle;">
<li>Freight transportation is a <strong>critical backbone of India&rsquo;s growing economy,</strong> and now more than ever, <strong>it&rsquo;s important to make this transport system more cost-effective, efficient, and cleaner.</strong></li>
<li>Efficient freight transport will also <strong>play an essential role in realising the benefits of existing government initiatives</strong> such as <a href="/daily-updates/daily-news-editorials/assessment-of-make-in-india" target="_blank" rel="noopener"><strong>Make in India</strong></a>, <a href="/daily-updates/daily-news-analysis/atmanirbhar-bharat-and-economic-stimulus" target="_blank" rel="noopener"><strong>Atma Nirbhar Bharat</strong></a>, and <a href="/loksabha-rajyasabha-discussions/in-depth-digital-india" target="_blank" rel="noopener"><strong>Digital India.</strong></a></li>
</ul>
</li>
<li><strong>Recommendations:</strong><br />
<ul style="list-style-type: circle;">
<li>Increasing the rail network&rsquo;s capacity, promoting intermodal transport, improving warehousing and trucking practices, policy measures and pilot projects for clean technology adoption, and stricter fuel economy standards.</li>
<li>When successfully deployed at scale, <strong>the proposed solutions can help India establish itself as a leader</strong> in logistics innovation and efficiency <strong>in the Asia&ndash;Pacific region and beyond.</strong></li>
</ul>
</li>
<li><strong>Recent Initiatives:</strong><br />
<ul style="list-style-type: circle;">
<li><a href="/daily-updates/daily-news-analysis/dedicated-freight-corridor-1" target="_blank" rel="noopener"><strong>Dedicated Freight Corridor (DFC):</strong></a><br />
<ul style="list-style-type: disc;">
<li>It is a <strong>high speed and high capacity railway corridor</strong> that is exclusively meant for the transportation of freight, or in other words, goods and commodities.</li>
</ul>
</li>
<li><a href="/daily-updates/daily-news-analysis/e-way-bill-integration-with-fastag-rfid" target="_blank" rel="noopener"><strong>E-Way Bill Integration with FASTag, RFID:</strong></a><br />
<ul style="list-style-type: disc;">
<li>It will <strong>enable tax officers to undertake live vigilance</strong> in respect of <a href="/daily-updates/daily-news-analysis/e-way-bills-during-lockdown" target="_blank" rel="noopener"><strong>E-Way Bill</strong></a> compliances by businesses, stop revenue leakage and will facilitate movement of large goods vehicles.</li>
</ul>
</li>
<li><a href="/daily-updates/daily-news-editorials/electric-vehicle-development-in-india" target="_blank" rel="noopener"><strong>FAME Scheme:</strong></a> <br />
<ul style="list-style-type: disc;">
<li>The Indian government has created momentum through its Faster Adoption and Manufacturing of (Hybrid &amp;) Electric Vehicles schemes that encourage, and in some segments mandates the <strong>adoption of electric vehicles (EV), with a goal of reaching 30% EV penetration by 2030.</strong></li>
</ul>
</li>
<li><strong><a href="/loksabha-rajyasabha-discussions/policy-watch-india-will-shift-to-bs-vi-norms" target="_blank" rel="noopener">Bharat Stage VI norms:</a></strong><br />
<ul style="list-style-type: disc;">
<li>It includes a <strong>wide list of technology modifications,</strong> the most significant being making OBD (On-board diagnostics) mandatory for all vehicles.</li>
</ul>
</li>
<li><a href="/daily-updates/daily-news-analysis/cafe-2-regulations-and-bs-vi-stage-ii-norms" target="_blank" rel="noopener"><strong>Corporate Average Fuel Efficiency (CAFE) Regulations:</strong></a><br />
<ul style="list-style-type: disc;">
<li>The CAF&Eacute; standards were first<strong> notified in 2017</strong> by the Union Ministry of Power (MoP)<strong> under Energy Conservation Act, 2001.</strong></li>
<li>The regulation is in accordance with the fuel consumption standards of 2015 that aim <strong>to increase fuel efficiency of vehicles on the road by 35% by 2030.</strong></li>
</ul>
</li>
</ul>
</li>
</ul>
<p><a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1725584" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
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		'article_id' => (int) 8572,
		'category_id' => (int) 21,
		'title' => 'Global Economic Prospects: World Bank',
		'description' => '<h3>Why in News</h3>
<p>Recently, the <a href="/important-institutions/drishti-specials-important-institutions-international-institution/world-bank-group" target="_blank" rel="noopener"><strong>World Bank</strong></a> has released its <strong>June 2021 <a href="/daily-updates/daily-news-analysis/global-economic-prospects-world-bank" target="_blank" rel="noopener">Global Economic Prospects</a></strong> where it has <strong>forecast India&rsquo;s GDP growth to be 8.3% for the year 2021-22.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>GDP Estimate:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>For India:</strong><br />
<ul style="list-style-type: disc;">
<li>India's economy is expected to grow <strong>at 8.3%</strong> for Fiscal Year <strong>2021-22, 7.5%</strong> for <strong>2022-23</strong> and <strong>6.5%</strong> for<strong> 2023-24.</strong></li>
</ul>
</li>
<li><strong>For World:</strong><br />
<ul style="list-style-type: disc;">
<li>The world economy is expected to expand<strong> 5.6%,</strong> the <strong>fastest post-recession growth rate in eighty years.</strong></li>
<li>However, <strong>global output will still be 2% below pre-pandemic projections</strong> by year-end.</li>
</ul>
</li>
</ul>
</li>
</ul>
<p style="text-align: center;"><a href="http://www.drishtiias.com/images/uploads/1623319724_image3.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1623319724_image3.png" caption="false" width="500" height="215" /></a></p>
<ul style="list-style-type: square;">
<li><strong>Cause:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>For FY 2020-21:</strong><br />
<ul style="list-style-type: disc;">
<li>The projected growth <strong>compares to the worst ever<a href="/daily-updates/daily-news-analysis/india-emerged-out-of-technical-recession#:~:text=Why%20in%20News&amp;text=The%20Gross%20Domestic%20Product%20(GDP,of%20the%20Covid%2D19%20pandemic." target="_blank" rel="noopener"> contraction of 7.3% in FY 2020-21</a></strong> and <strong>4% expansion in 2019-20.</strong></li>
<li>India&rsquo;s recovery is<strong> being hampered by the largest outbreak of any country</strong> since the beginning of the pandemic.</li>
</ul>
</li>
<li><strong>For FY 2021-22:</strong><br />
<ul style="list-style-type: disc;">
<li>The forecast for FY22 (8.3%) factors in <strong>expected economic damage from an enormous<a href="/daily-updates/daily-news-analysis/reasons-for-rising-covid-19-infections-second-wave" target="_blank" rel="noopener"> second Covid-19 wave</a></strong> and localised mobility restrictions since March 2021.</li>
</ul>
</li>
<li><strong>For FY 2022-23:</strong><br />
<ul style="list-style-type: disc;">
<li><strong>Growth is expected to slow to 7.5%</strong> as a<strong> result of the pandemic&rsquo;s lingering effects</strong> on the financial position of households, companies and banks and possibly low levels of consumer confidence and heightened uncertainty around job and incomes.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Steps Taken by India:</strong><br />
<ul style="list-style-type: circle;">
<li>The<strong> Reserve Bank of India (RBI)</strong> announced <a href="/daily-updates/daily-news-analysis/rbi-s-measures-to-fight-covid-second-wave" target="_blank" rel="noopener"><strong>measures</strong> </a>to provide liquidity to Micro, Small and Medium firms (MSMEs), and loosened regulatory requirements on the provisioning for non-performing assets.</li>
<li><a href="/to-the-points/paper3/government-budgeting" target="_blank" rel="noopener"><strong>Fiscal policy</strong></a> shifted in the <a href="/current-affairs-news-analysis-editorials/news-analysis/03-02-2021" target="_blank" rel="noopener"><strong>FY 2021/22 budget</strong></a> toward higher expenditure targeted at healthcare and infrastructure to boost the post-pandemic recovery.</li>
</ul>
</li>
<li><strong>Suggestions:</strong><br />
<ul style="list-style-type: circle;">
<li>Globally <strong>coordinated efforts are essential</strong> to accelerate<strong> vaccine distribution and debt relief,</strong> particularly for low-income countries.</li>
<li>As the health crisis eases, policymakers will <strong>need to address the pandemic&rsquo;s lasting effects</strong> and take steps to<strong> spur green, resilient, and inclusive growth</strong> while safeguarding<strong> macroeconomic stability.</strong></li>
<li>For low-income countries, <strong>policies focusing on scaling up social safety net programs, improving logistics and climate resilience of local food supply</strong> would be more helpful.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Key Terms</strong></p>
<ul style="list-style-type: square;">
<li><strong>Gross Domestic Product</strong><br />
<ul style="list-style-type: circle;">
<li>GDP is a <strong>measure of economic activity</strong> in a country. It is the total value of a country&rsquo;s annual output of goods and services. It gives the economic output from the <strong>consumers&rsquo; side.</strong></li>
<li>GDP = Private consumption + Gross investment + Government investment + Government spending + (exports-imports).</li>
</ul>
</li>
<li><strong>Recession and Depression</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Recession:</strong> It is a macroeconomic term that refers to a <strong>slowdown or a massive contraction</strong> in economic activities for a long enough period, or it can be said that when a recession sustains for long enough, it is called a recession.</li>
<li><strong>Depression:</strong> It is a deep and long-lasting period of <strong>negative economic growth,</strong> with output falling for at <strong>least 12 months</strong> and GDP falling by<strong> over 10%</strong> or it can be referred to as a <strong>severe and prolonged recession.</strong></li>
</ul>
</li>
<li><strong>Fiscal Policy</strong><br />
<ul style="list-style-type: circle;">
<li>Fiscal policy refers to the<strong> use of government spending and tax policies to influence economic conditions.</strong></li>
<li>During a recession, the government may employ<strong> expansionary fiscal policy</strong> by lowering <strong>tax rates</strong> to increase aggregate demand and <strong>fuel economic growth.</strong></li>
<li>In the face of mounting <strong>inflation</strong> and other <strong>expansionary symptoms,</strong> a government may pursue <strong>contractionary fiscal policy.</strong></li>
</ul>
</li>
</ul>
</div>
<h3>World Bank</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>The <strong>Bretton Woods Conference held in 1944,</strong> created the International Bank for Reconstruction and Development (IBRD) along with the<a href="/important-institutions/drishti-specials-important-institutions-international-institution/international-monetary-fund-imf" target="_blank" rel="noopener"><strong> International Monetary Fund (IMF).</strong></a><br />
<ul style="list-style-type: disc;">
<li>The <strong>IBRD later became the World Bank.</strong></li>
</ul>
</li>
<li>The World Bank Group is <strong>a unique global partnership of five institutions</strong> working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.</li>
</ul>
</li>
<li><strong>Members:</strong><br />
<ul style="list-style-type: circle;">
<li>It has <strong>189 member countries. India is also a member</strong> country.</li>
</ul>
</li>
<li><strong>Major Reports:</strong><br />
<ul style="list-style-type: circle;">
<li><a href="/daily-updates/daily-news-analysis/ease-of-doing-business-2020" target="_blank" rel="noopener"><strong>Ease of Doing Business.</strong></a></li>
<li><a href="/daily-updates/daily-news-analysis/world-bank-s-human-capital-index-2020" target="_blank" rel="noopener"><strong>Human Capital Index.</strong></a></li>
<li><a href="/daily-updates/daily-news-analysis/world-development-report-2021-world-bank" target="_blank" rel="noopener"><strong>World Development Report.</strong></a></li>
<li><a href="/daily-updates/daily-news-analysis/report-on-global-remittances-world-bank" target="_blank" rel="noopener"><strong>Migration and Development Brief.</strong></a></li>
<li>Global Economic Prospects.</li>
</ul>
</li>
<li><strong>Its Five Development Institutions:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>International Bank for Reconstruction and Development (IBRD):</strong> Provides loans, credits, and grants.</li>
<li><strong>International Development Association (IDA):</strong> Provides low- or no-interest loans to low-income countries.</li>
<li><strong>International Finance Corporation (IFC):</strong> Provides investment, advice, and asset management to companies and governments.</li>
<li><strong>Multilateral Guarantee Agency (MIGA):</strong> Insures lenders and investors against political risk such as war.</li>
<li><strong>International Centre for the Settlement of Investment Disputes (ICSID):</strong> Settles investment-disputes between investors and countries. <br />
<ul style="list-style-type: disc;">
<li>India is <strong>not a member of ICSID.</strong></li>
</ul>
</li>
</ul>
</li>
</ul>
<p><a href="https://www.thehindu.com/business/Economy/india-expected-to-grow-at-83-says-world-bank/article34762989.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
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		'article_id' => (int) 8570,
		'category_id' => (int) 21,
		'title' => 'Railways Gets 5 MHz Spectrum',
		'description' => '<h3>Why in News</h3>
<p>Recently, the Union Cabinet approved the allotment of <strong>5 MHz spectrum in the 700 MHz frequency band</strong> to the Indian Railways for <strong>improving its communication and signalling systems.</strong></p>
<ul style="list-style-type: square;">
<li>Railways has also approved a indigenously developed <strong>Train Collision Avoidance System (TCAS).</strong></li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>The <strong>project, targeted to be completed in five years</strong>, is estimated to <strong>cost over Rs. 25,000 crore.</strong></li>
<li>The <strong><a href="/daily-updates/daily-news-analysis/spectrum-auctions" target="_blank" rel="noopener">spectrum</a> charges</strong> will be levied based on formula as prescribed by Department of Telecommunications for Royalty Charges and License Fee for captive use as recommended by the <strong><a href="/daily-updates/daily-news-analysis/telecom-firms-oppose-trai%E2%80%99s-public-wi-fi-model" target="_blank" rel="noopener">Telecom Regulatory Authority of India (TRAI)</a>.</strong></li>
<li>With this spectrum, the <strong>railways will introduce Long-Term Evolution (LTE)-based Mobile Train Radio Communication (MTRC)</strong> on its routes.<br />
<ul style="list-style-type: disc;">
<li>The Railways <strong>currently relies on <a href="/daily-updates/daily-news-analysis/new-technique-for-monitoring-of-power-transmission-cables" target="_blank" rel="noopener">optical fibre</a></strong> for its communication network but with the allocation of fresh spectrum, it<strong> will be able to use high-speed radio on a real-time basis.</strong></li>
<li><strong>LTE</strong> is a <strong><a href="/to-the-points/paper3/fifth-generation-cellular-technology-5g" target="_blank" rel="noopener">fourth-generation (4G)</a> wireless standard</strong> that provides increased network capacity and speed for cellphones and other cellular devices compared with third-generation (3G) technology.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Benefits:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Seamless Connection:</strong><br />
<ul style="list-style-type: disc;">
<li>It will be used for modern signalling and train protection systems and ensure seamless communication between loco pilots and guards.</li>
<li>The purpose of the LTE for Indian Railways is to <strong>provide secure and reliable voice</strong>, video and data communication services for operational, safety and security applications.</li>
</ul>
</li>
<li><strong>Reduced Accidents &amp; Delays:</strong><br />
<ul style="list-style-type: disc;">
<li>It will help <strong>prevent train accidents and reduce delays</strong> by enabling real-time interaction between the Loco Pilot, Station Master and the Control Centre.</li>
</ul>
</li>
<li><strong>Internet of Things:</strong><br />
<ul style="list-style-type: disc;">
<li>This will also enable the railways to undertake <a href="/daily-updates/daily-news-editorials/india-must-get-on-the-iot-highway-fast#:~:text=Internet%20Of%20Things%20(IoT)%20is%20a%20computing%20concept%20that%20describes,than%20the%20object%20by%20itself." target="_blank" rel="noopener"><strong>Internet of Things (IoT)</strong></a> based remote asset monitoring, particularly of coaches, wagons and locos, and monitor live video feed of <a href="/daily-updates/daily-news-analysis/cctv-in-police-stations-sc" target="_blank" rel="noopener"><strong>CCTV</strong></a> cameras in the coaches to ensure efficient, safer and faster train operations.<br />
<ul style="list-style-type: disc;">
<li><strong>IoT</strong> is a<strong> computing concept that describes the idea of everyday physical objects being connected to the internet</strong> and being able to identify themselves to other devices.</li>
</ul>
</li>
</ul>
</li>
</ul>
</li>
<li><strong>Train Collision Avoidance System (TCAS).</strong><br />
<ul style="list-style-type: circle;">
<li>It is a microprocessor based control system, which <strong>continuously monitors the speed, direction of travel, distance travelled</strong>, aspect of the signal passed and alertness of the motorman and thus increases the safety of the railway system.</li>
<li>It will help in <strong>improving the safety and increasing the line capacity to accommodate more trains using the existing infrastructure.</strong> The modern rail network will result in <strong>reduced transportation cost and higher efficiency.</strong></li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Radio Spectrum</strong></p>
<ul style="list-style-type: square;">
<li>The radio spectrum (also known as Radio Frequency or RF) is a part of the <strong>electromagnetic spectrum</strong>, electromagnetic waves in this frequency range are called radio frequency bands or simply &lsquo;<a href="/daily-updates/daily-news-analysis/ham-radio" target="_blank" rel="noopener"><strong>radio waves</strong></a>&rsquo;. <br />
<ul style="list-style-type: circle;">
<li><strong>Radio waves</strong> have the longest wavelengths in the electromagnetic spectrum. These were discovered by Heinrich Hertz in the late 1880s.</li>
</ul>
</li>
<li>RF bands spread in the range between <strong>30 kHz and 300 GHz</strong> (alternative point of view offers coverage 3 KHz &ndash; 300 GHz).</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1623315257_pasted%20image 0.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1623315257_pasted image 0.png" width="500" caption="false" style="display: block; margin-left: auto; margin-right: auto;" /></a></p>
<ul style="list-style-type: square;">
<li>To prevent interference between different users, the <strong>generation and transmission of radio frequency bands is strictly regulated by national laws</strong>, coordinated by an international body, the <strong><a href="/daily-updates/daily-news-analysis/important-facts-for-prelims-12th-march-2019" target="_blank" rel="noopener">International Telecommunication Union (ITU)</a>.</strong></li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/national/cabinet-approves-allocation-of-5mhz-spectrum-for-railways/article34769380.ece" target="_blank" rel="noopener"><strong>Source:TH</strong></a></p>',
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		'article_id' => (int) 8566,
		'category_id' => (int) 15,
		'title' => 'The Big Picture: Global Corporate Tax and India',
		'description' => '<p style="text-align: center;"><iframe width="560" height="315" src="https://www.youtube.com/embed/7GTUM5PpeYM" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="allowfullscreen"></iframe></p>
<h3>Why in News</h3>
<p>Recently, the Finance Ministers of the<strong> <a href="/daily-updates/daily-news-analysis/47th-g7-summit" target="_blank" rel="noopener">G7</a> </strong>advanced economies secured a landmark deal on taxing multinational companies by fixing a <a href="/daily-updates/daily-news-analysis/global-minimum-corporate-tax" target="_blank" rel="noopener"><strong>Global Minimum Corporate Tax Rate (GMCTR)</strong></a></p>
<ul style="list-style-type: square;">
<li>The decision would be placed before the <a href="/important-institutions/drishti-specials-important-institutions-international-institution/important-institution-upsc-ias-g20-significance-global-groupings-member-challenges-buenos-aires-gs-mains-paper-ii-2-international-relations" target="_blank" rel="noopener"><strong>G20</strong> </a>countries, a group of developing and developed nations, in July 2021.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Aim:</strong> The deal is aimed at modernizing the century-old international tax code and reducing the transatlantic tensions that threatened to spill into a trade war.</li>
<li><strong>Paving Way for Taxes:</strong> The agreement paves way for levies on Multinational Companies (MNCs) in countries where they operate, instead of just where they are headquartered.</li>
<li><strong>Countries&rsquo; Right to Tax:</strong> Under the new agreement, countries where big firms operate would get the right to tax at least 20% of profits exceeding a 10% margin which would apply to the largest and most profitable multinational enterprises.</li>
<li><strong>Efforts by OECD:</strong> The <a href="/daily-updates/daily-news-analysis/oecds-forecast-for-global-economy-in-2060" target="_blank" rel="noopener"><strong>Organization for Economic Cooperation and Development (OECD)</strong></a> has also been coordinating tax negotiations among 140 countries for years on rules for<a href="/daily-updates/daily-news-editorials/digital-services-tax-1" target="_blank" rel="noopener"><strong> taxing cross-border digital services</strong> </a>and curbing tax <a href="/mains-practice-question/question-223" target="_blank" rel="noopener"><strong>base erosion</strong></a>, including a global corporate minimum tax.</li>
</ul>
<h3>Global Minimum Corporate Tax Rate (GMCTR)</h3>
<ul style="list-style-type: square;">
<li><strong>Corporation tax:</strong> It is a direct tax imposed on the net income or profit that enterprises make from their businesses. <br />
<ul style="list-style-type: circle;">
<li>The G7 Finance Ministers have called for a global minimum corporation tax rate of<strong> at least 15%. </strong></li>
</ul>
</li>
<li><strong>Need of GMCTR: </strong><br />
<ul style="list-style-type: circle;">
<li><strong>Low Tax Jurisdictions:</strong> MNCs follow the system of locating the headquarters wherever the tax is the lowest so that the company ends up paying the tax at a much lower rate. Therefore the smaller countries such as Ireland were at advantage but the bigger countries lost out on tax revenues. <br />
<ul style="list-style-type: disc;">
<li>G7 countries have announced a minimum 15% tax rate on all MNCs irrespective of whichever place they are so that the advantage of country shifting does not remain.</li>
<li>There GMCTR must be fixed to avoid countries undercutting each other.</li>
</ul>
</li>
<li><strong>To Bring Uniformity:</strong> GMCTR will end a decades-long race to the bottom in which countries have competed to attract corporate giants with ultra-low tax rates and exemptions. And it will bring uniformity in corporate taxation worldwide.</li>
<li><strong>Multilayering by MNCs for Profits:</strong> Digital giants such as Apple, Alphabet and Facebook, as well as many other major corporations typically rely on complex webs of subsidiaries to hoover profits out of major markets into low-tax countries such as Ireland or Caribbean nations such as the British Virgin Islands or the Bahamas, or to central American nations such as Panama.</li>
</ul>
</li>
<li><strong>GMCTR and India: </strong><br />
<ul style="list-style-type: circle;">
<li><strong>Bringing Equality:</strong> In the Indian context, the GMCTR will bring equality to those people maybe operating in India but not located in India and therefore not paying any taxes.</li>
<li><strong>Attract Investments:</strong> India is likely to benefit from the global minimum 15% corporate tax rate pact as the effective domestic tax rate (other than in Special Economic Zones) is above the threshold.<br />
<ul style="list-style-type: disc;">
<li>In all probability the concessional Indian tax regime would still work, and India would continue to attract investments.</li>
</ul>
</li>
<li><strong>India at Advantage:</strong> Due to India&rsquo;s tax rates too, it will be in an advantageous position because Indian tax rates have come at a position where India can afford to give concessions to big companies and yet not fall down at the international tax rates.</li>
<li><strong>Challenge:</strong> Although the 15% GMCTR will not affect the current investments in India, setting up more SEZs or giving incentives to companies to invest in India will be a challenge.</li>
</ul>
</li>
</ul>
<h3>Challenges Associated</h3>
<ul style="list-style-type: square;">
<li><strong>Bringing Global Consensus:</strong> Bringing all the major nations on the same page, especially since the pact impinges on the right of the sovereign to decide a nation&rsquo;s tax policy. <br />
<ul style="list-style-type: circle;">
<li>A global minimum rate would essentially take away a tool that countries use to push policies that suit them.</li>
</ul>
</li>
<li><strong>Issues to Smaller Countries:</strong> Countries like Ireland, which has a tax rate of 12.5%, has come out against the global minimum tax, arguing that it would be disruptive to its economic model.</li>
<li><strong>Issues to Developing Countries:</strong> <a href="/important-institutions/drishti-specials-important-institutions-international-institution/international-monetary-fund-imf" target="_blank" rel="noopener"><strong>IMF</strong></a> and<a href="/important-institutions/drishti-specials-important-institutions-international-institution/world-bank-group" target="_blank" rel="noopener"><strong> World Bank</strong> </a>data suggest that developing countries with less ability to offer mega stimulus packages may experience a longer economic hangover than developed nations.<br />
<ul style="list-style-type: circle;">
<li>Considering the countries like Bangladesh which do not have too many advantages to offer besides a Special Economic Zone, this decision of G7 countries might not be very conducive.</li>
</ul>
</li>
<li><strong>Tackling Tax Evasion:</strong> A lower tax rate is a tool the countries can use to alternatively push economic activity. Also, a global minimum tax rate will do little to tackle tax evasion.</li>
<li><strong>Rigidity in Rules:</strong> Once an international commitment has been made for 15%, it will be very difficult for the national governments to say who stays on 15% and who doesn&rsquo;t. It will introduce a rigidity in the rules which might not be as favourable for countries&rsquo; economies.</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li><strong>Effective Implementation:</strong> The idea of fixing a GMCTR is good but it needs to be ensured that the way it is implemented is transparent so it doesn&rsquo;t involve people looking for leverage for different loopholes.</li>
<li><strong>Proper Coordination:</strong> There should be appropriate coordination between the application of the new international tax rules including the Digital Services Taxes. Any final agreement could have major repercussions for low-tax countries and tax havens.</li>
<li><strong>Way Ahead for India:</strong> Once this deal comes through, India shall be at an advantageous position at the G20 summit to negotiate its double taxation avoidance agreements. <br />
<ul style="list-style-type: circle;">
<li>India shall take the opportunity that will be provided by this agreement as India&rsquo;s double tax avoidance agreements have not been signed by many countries in the west with which India has been negotiating for years.</li>
</ul>
</li>
</ul>
<h3>Conclusion</h3>
<ul style="list-style-type: square;">
<li>This initiative of the G7 countries is a welcome move to address the different challenges that many countries are facing.</li>
<li>Putting in place a global corporate tax at the minimum slab fixed by the G7 will majorly impact the developing economies.</li>
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		'article_id' => (int) 8559,
		'category_id' => (int) 21,
		'title' => 'Supersonic Commercial Plane',
		'description' => '<h3>Why in News</h3>
<p>The <strong>US airline United has announced plans to buy 15 new supersonic airliners</strong> and "return supersonic speeds to aviation" in the year 2029.</p>
<ul style="list-style-type: square;">
<li>The Airline has agreed to <strong>purchase the Overture aircraft from Boom Supersonic</strong> (a Denver-based start-up), with the <strong>planes able to fly at Mach 1.7 faster than the speed of sound.</strong></li>
<li>The new supersonic &ldquo;Overture&rdquo; aircraft will <strong>become the world&rsquo;s fastest commercial airliner</strong>, reducing travel time by about half of today&rsquo;s planes.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Background:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Concorde</strong>, the British-French turbojet-powered commercial airliner, <strong>was the first aircraft to carry passengers at supersonic speed.</strong> Supersonic planes flew passengers <strong>from 1976 until 2003.</strong></li>
<li>But eventually <strong>had to discontinue</strong>, due to cost and other concerns.</li>
</ul>
</li>
<li><strong>Supersonic Plane:</strong><br />
<ul style="list-style-type: circle;">
<li>Supersonic aircraft are planes that <strong>can fly faster than the speed of sound.</strong><br />
<ul style="list-style-type: disc;">
<li>Usually, supersonic planes can travel at the <strong>speed of around 900 kmph, twice the speed of normal aircraft.</strong></li>
</ul>
</li>
<li>The <strong>technology for supersonic flights is actually over 70 years old</strong>, but only recently has been used for commercial flying.<br />
<ul style="list-style-type: disc;">
<li>Before 1976, when the first commercial supersonic flight took off, the planes were <strong>used entirely for military purposes.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Boom&rsquo;s Overture Supersonic Aircraft:</strong><br />
<ul style="list-style-type: circle;">
<li>The Overture aircraft would <strong>travel at the speed of Mach 1.7 or 1,805 kmph</strong> with <strong>a range of 4,250 nautical miles.</strong></li>
<li>In a single flight, it could <strong>carry 65 to 88 passengers</strong> and reach <strong>an altitude of 60,000 ft.</strong></li>
<li>Trial flights are scheduled to begin in 2026, with commercial use coming three year later.</li>
<li>It will <strong>build upon Concorde&rsquo;s legacy</strong> through faster, more efficient and sustainable technology.</li>
<li>The company has claimed to produce an eco-friendly aircraft with &ldquo;<a href="/daily-updates/daily-news-analysis/india-transforming-to-a-net-zero-emissions-energy-system" target="_blank" rel="noopener"><strong>net-zero carbon emissions</strong></a>'', set to fly with 100% <strong>sustainable aviation fuel (SAF).</strong><br />
<ul style="list-style-type: disc;">
<li><strong>Sustainable aviation fuels</strong> include <a href="/daily-updates/daily-news-analysis/indias-first-biofuel-flight" target="_blank" rel="noopener"><strong>biofuels</strong></a> and synthetic kerosine that are manufactured using renewable and sustainable materials.</li>
</ul>
</li>
<li>It aims for <strong>&ldquo;zero overland noise.&rdquo;</strong> <br />
<ul style="list-style-type: disc;">
<li>This essentially means that it will cruise at supersonic speeds only over water, ensuring that no <a href="/daily-updates/daily-news-analysis/sonic-boom" target="_blank" rel="noopener"><strong>sonic boom</strong></a> or excessive noise reaches the surfaces where people live.</li>
<li>It will be equipped with <strong>advanced aerodynamics</strong> and c<strong>arbon composite materials.</strong></li>
<li>This will be able to <strong>cut significant development and maintenance costs</strong> in ways which the Concorde planes could not.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Challenges with Supersonic Planes:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>High Manufacturing Cost:</strong> The costs of making &ldquo;sustainable&rdquo; supersonic planes are extremely high.</li>
<li><strong>Environmental Cost:</strong> The very nature of its flying using excessive amounts of fuel and energy is likely to have high environmental costs.<br />
<ul style="list-style-type: disc;">
<li>Despite the use of sustainable fuels, the <strong>greenhouse gas emissions</strong> are not nullified.</li>
<li>The plane consumes high amounts of fuel in order to take off, that too in a market where sustainable fuels aren&rsquo;t readily available.</li>
</ul>
</li>
<li><strong>Excessive Noise Pollution:</strong> The speed of the planes result in producing excessive amounts of noise pollution in the environment.<br />
<ul style="list-style-type: disc;">
<li>The &ldquo;Sonic Boom&rdquo; created by these planes feels like an explosion to the human ear.</li>
<li>This, thus, limits where and when the supersonic planes can fly. They can only reach their actual speed until they are far enough from people and completely over the ocean.</li>
</ul>
</li>
<li><strong>Regulatory Approvals:</strong> To fly such planes can be unsuccessful, especially for transatlantic flights. Getting clearance from regulators around the world would be a challenging task, since the supersonic planes in the past have already been flagged for these hurdles.</li>
<li><strong>Too Costly:</strong> It would not be economically feasible for everyone. Only the very rich can afford supersonic planes, as a ticket is likely to be way more costlier than a first class ticket of a regular plane.</li>
</ul>
</li>
</ul>
<p><a href="https://www.google.com/url?q=https://www.google.com/amp/s/indianexpress.com/article/explained/explained-in-proposed-return-of-supersonic-flying-the-benefits-and-concerns-7348378/lite/&amp;sa=D&amp;source=editors&amp;ust=1623229519013000&amp;usg=AOvVaw2U3RX2U6P5KOy7ANV9wzYz" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
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	(int) 7 => object(Cake\ORM\Entity) {

		'article_id' => (int) 8529,
		'category_id' => (int) 22,
		'title' => 'Sustainably Developing Andaman & Nicobar',
		'description' => '<div class="border">
<p>This article is based upon <a href="https://www.hindustantimes.com/opinion/developing-the-sister-islands-of-indian-ocean-101622720051095.html" target="_blank" rel="noopener"><strong>&ldquo;Developing the sister islands of Indian Ocean&rdquo;</strong></a> which was published in the Hindustan Times on 03/06/2021. It talks about the significance of Andaman &amp; Nicobar Islands, its sustainable development and how India&rsquo;s maritime partner France can assist in the developmental projects in the Archipelago.</p>
</div>
<p>The Andaman and Nicobar Islands (ANI), popularly known as <strong>&lsquo;Bay Islands&rsquo;,</strong> hold great significance for India from maritime as well as ecological point of view. ANI provides for nearly 30% of India&rsquo;s Exclusive Economic Zone.</p>
<p>ANI, besides being a home to a rich floral and faunal diversity, is also home to a number of tribal and <a href="/daily-updates/daily-news-analysis/particularly-vulnerable-tribal-groups" target="_blank" rel="noopener"><strong>Particularly Vulnerable Tribal Groups</strong></a>, a few of which are on the verge of extinction.</p>
<p>In the immediate past, there have been quite a few projects proposed for these island groups for economic purposes as well as for <a href="/daily-updates/daily-news-editorials/militarising-andaman-and-nicobar-islands" target="_blank" rel="noopener"><strong>militarising Andaman and Nicobar Islands.</strong></a></p>
<p>As much potential these islands can prove to have for making India a maritime power, this ecological significance can and must not be undermined. A balanced development plan is the ultimate solution.</p>
<h3>Andaman and Nicobar Islands (ANI)</h3>
<ul style="list-style-type: square;">
<li><strong>Indigenous People of ANI:</strong> The <a href="/daily-updates/daily-news-analysis/indigenous-people-of-andaman-and-nicobar" target="_blank" rel="noopener"><strong>Andaman and Nicobar Islands</strong> </a>are home to five PVTGs: <strong>Great Andamanese, Jarwas, Onges, Shompens and North Sentinelese.</strong><br />
<ul style="list-style-type: circle;">
<li>The<strong> Great Nicobarese</strong> are a Scheduled Tribe.</li>
<li>The population of Andaman and Nicobar Islands&rsquo; primitive tribes has rapidly declined over the years.</li>
</ul>
</li>
<li><strong>Significance of ANI:</strong> India's key maritime partners such as the US, Japan, Australia and France acknowledge and recognise the strategic location of the Andaman and Nicobar. <br />
<ul style="list-style-type: circle;">
<li>These islands not only provide Delhi with a <strong>key maritime space</strong> but also<strong> carry significant potential in shaping the strategic and military dynamics</strong> of the Indian Ocean region.</li>
</ul>
</li>
<li><strong>Island Territories Similar to ANI:</strong> France&rsquo;s <strong>La Reunion</strong> island is similar to ANI and lies in the Southwest Indian Ocean near strategic waters. <br />
<ul style="list-style-type: circle;">
<li>Australia and the US too have similar island territories in the Indian Ocean with<strong> Cocos (Keeling) islands and Diego Garcia</strong> respectively. <br />
<ul style="list-style-type: disc;">
<li>However, Diego Garcia&rsquo;s sovereignty is disputed by Mauritius, which has garnered support through a United Nations (UN) resolution.</li>
</ul>
</li>
<li>The ANI and Reunion islands are part of a series of island territories under<strong> key maritime players in the Indian Ocean.</strong></li>
</ul>
</li>
</ul>
<p><strong>Recent Developmental Plans for ANI</strong></p>
<ul style="list-style-type: square;">
<li><strong>Japan&rsquo;s Overseas Development Assistance :</strong> In March 2021, for the first time, Japan&rsquo;s government approved a grant aid of approximately ₹265 crore toward developmental projects in Andaman and Nicobar Islands. <br />
<ul style="list-style-type: circle;">
<li>It is <a href="/daily-updates/daily-news-analysis/japan-to-fund-projects-in-india" target="_blank" rel="noopener"><strong>Japan&rsquo;s first Overseas Development Assistance (ODA)</strong></a> initiative toward the islands.</li>
</ul>
</li>
<li><strong>ANI as a Maritime and Startup Hub:</strong> In August, 2020 the Prime Minister had declared that the Andaman and Nicobar islands will be developed as a "<a href="/daily-updates/daily-news-analysis/andaman-and-nicobar-islands-to-be-maritime-and-startup-hub" target="_blank" rel="noopener"><strong>maritime and startup hub</strong></a>"<br />
<ul style="list-style-type: circle;">
<li>12 islands of the archipelago have been <strong>selected for high-impact projects</strong> with an <strong>emphasis on boosting trade of sea-based, organic and coconut-based products</strong> of the region</li>
</ul>
</li>
<li><strong>NITI Aayog&rsquo;s Project for Great Nicobar:</strong> Great Nicobar is the southernmost island of the Nicobar Islands Archipelago. <br />
<ul style="list-style-type: circle;">
<li>The <a href="/daily-updates/daily-news-analysis/niti-aayog-s-project-for-great-nicobar-island" target="_blank" rel="noopener"><strong>proposal</strong> </a>includes an international container trans-shipment terminal, a greenfield international airport, a power plant and a township complex spread over 166 sq. km. (mainly pristine coastal systems and tropical forests).</li>
</ul>
</li>
<li><strong>NITI Aayog&rsquo;s Proposal for Little Andaman:</strong> The <a href="/daily-updates/daily-news-analysis/niti-aayog-s-proposal-for-little-andaman" target="_blank" rel="noopener"><strong>plan</strong></a> involves building a new greenfield coastal city that will be developed as a free trade zone and will compete with Singapore and Hong Kong.</li>
</ul>
<h3>Issues Faced by ANI</h3>
<ul style="list-style-type: square;">
<li><strong>Lack of Connectivity:</strong> The island groups, specially the Little Andaman Island, have <strong>little connectivity with the Indian mainland</strong> and global cities.</li>
<li><strong>Geological Volatility:</strong> The island's groups lie in a <strong>seismically highly active zone.</strong> <br />
<ul style="list-style-type: circle;">
<li>The 2004 earthquake and accompanying<strong> tsunami devastated large parts of the island chain.</strong> <br />
<ul style="list-style-type: disc;">
<li>Nicobar and Car Nicobar (northernmost Nicobar island) lost almost one-fifth of its population and close to 90% of its mangroves.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Declining Population:</strong> The population of native communities like the Great Andamanese, Onge, Jarawa and North Sentinelese has <strong>plummeted from 1,999 to 550 since 1901 to 2011.</strong> <br />
<ul style="list-style-type: circle;">
<li>Massive projects, epidemics and crippling health crises in the ecologically fragile Little Andaman Island have led to near-extinction of the Onge tribe.</li>
<li>The developmental project proposed by NITI Aayog for Little Andaman includes<strong> de-reserving 32% of the reserved forest</strong> and <strong>denotifying 31% of the tribal reserve</strong> thus rendering the habitations of the tribal groups at risk.</li>
</ul>
</li>
<li><strong>Aspects of Blue Economy:</strong> The primary issues facing island nations in the Indian Ocean are related to the key aspects of the <a href="/to-the-points/paper3/blue-economy" target="_blank" rel="noopener"><strong>Blue Economy</strong></a>. <br />
<ul style="list-style-type: circle;">
<li>Sustainable development, illegal fishing, disaster management, the climate crisis, renewable energy and issues of waste management impacts both tourism as well as ecosystems specific to islands.</li>
</ul>
</li>
<li><strong>Development and Biodiversity:</strong> A slew of infrastructure projects have been proposed in ANI to give a major boost to tourism and business. <br />
<ul style="list-style-type: circle;">
<li>While this may transform the islands substantially, it would also cause loss of biodiversity and have a negative impact on the indigenous people.</li>
<li>The <strong>Coastal Regulation Zone (CRZ) Committee,</strong> granted the clearance for the infrastructural projects on the condition that all large, medium, and small trees will be counted and geo-referenced and not felled. <br />
<ul style="list-style-type: disc;">
<li>However, <strong>Andaman and Nicobar Islands Integrated Development Corporation (ANIIDCO)</strong> is seeking an amendment to this clause so that trees may be felled if required</li>
</ul>
</li>
</ul>
</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li><strong>Balanced Development:</strong> Militarising ANI and infrastructure and developmental projects will not doubt aid India&rsquo;s strategic and maritime capabilities, but such development should not come at the cost of the ruthless exploitation of Biodiversity hotspot i.e ANI.</li>
<li><strong>Sustainably Developing ANI:</strong> Given its economic, ecological &amp; environmental constraints and the laws to protect the indigenous tribes, the Andaman and Nicobar Islands will have to be first <strong>developed sustainably in order to maximise its economic and military potential.</strong> <br />
<ul style="list-style-type: circle;">
<li>A sustainable island development framework is not only important for the ANI but will also be applicable and of interest to other island nations across the Indian Ocean.</li>
</ul>
</li>
<li><strong>Sister Islands:</strong> Reunion is the <strong>most developed island territory</strong> among the above-mentioned four island territories, with a framework that supports both the island&rsquo;s economic needs as well as France&rsquo;s military priorities in the Indian Ocean. <br />
<ul style="list-style-type: circle;">
<li>Taking from the idea of &ldquo;sister cities&rdquo;, the framework of<strong> &ldquo;sister islands&rdquo;</strong> can be formed.</li>
<li>India and France should lead an effort, utilising their island territories of Andaman and Reunion in developing a concept of sister islands aimed at <strong>creating a foundation for a sustainable model for island development across the Indian Ocean.</strong> <br />
<ul style="list-style-type: disc;">
<li>Similar to sister cities, a sister island concept would allow India and France to co-develop a sustainable framework for island development.</li>
</ul>
</li>
</ul>
</li>
<li><strong>India&rsquo;s Development Plans in Indo-Pacific:</strong> If India is to invest in capacity building initiatives and maritime projects in the Indian Ocean, there is a need to research and create an island model for development. Such an approach also creates a new avenue for Indian-led initiatives in the Indo-Pacific.<br />
<ul style="list-style-type: circle;">
<li>As India and its partners compete for access and influence across the Indo-Pacific toward achieving common interests, there is a need to engage with and address regional concerns and challenges of strategically located island nations.</li>
</ul>
</li>
<li><strong>Role of IOC:</strong> Indian Ocean Commission (IOC) is the only island driven organisation in the Indian Ocean. It plays an important role in voicing the concerns and challenges of the islands of the western Indian Ocean. <br />
<ul style="list-style-type: circle;">
<li>France recently took over as the Chair of the IOC. India in 2020, formally joined the group as an Observer.</li>
<li>It provides an opportunity for both the countries to lead an island-focused development model.<br />
<ul style="list-style-type: disc;">
<li>India could also borrow lessons from France&rsquo;s island experiences in both the Indian Ocean as well as in the Pacific.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h3>Conclusion</h3>
<p>As India looks to maintain and strengthen its advantages in the Indian Ocean, it should look to leveraging its island territories and non-traditional security issues in offering solutions and addressing regional concerns and challenges. The Andaman and Reunion provide an excellent starting point to do so.</p>
<table border="1" style="border-collapse: collapse; width: 100%;">
<tbody>
<tr>
<td style="width: 100%; border-style: dotted; border-color: #ff0000; background-color: #f2f0ff;">
<p><span style="color: #000080;"><em><strong>Drishti Mains Question</strong></em></span></p>
<p>&ldquo;Taking into account the significance that Andaman &amp; Nicobar Islands have for India in various aspects, a balanced approach towards its ecological fragility and economic significance is the need of the hour. India&rsquo;s key maritime partners with similar interests can be approached for mutual assistance and benefits&rdquo;. Discuss.</p>
</td>
</tr>
</tbody>
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		'article_id' => (int) 8528,
		'category_id' => (int) 21,
		'title' => 'SDG India Index 2020-21: NITI Aayog',
		'description' => '<h3>Why in News</h3>
<p>Recently, the <strong>third edition</strong> of the <a href="/loksabha-rajyasabha-discussions/in-depth-indias-sustainable-development-goals" target="_blank" rel="noopener"><strong>Sustainable Development Goals (SDG)</strong></a><strong> India Index and Dashboard 2020&ndash;21</strong> was released by <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/niti-aayog-national-institution-for-transforming-india" target="_blank" rel="noopener"><strong>NITI Aayog.</strong></a></p>
<ul style="list-style-type: square;">
<li>The SDG India Index 2020&ndash;21 is <strong>developed in collaboration with the <a href="/important-institutions/drishti-specials-important-institutions-international-institution/united-nations-1" target="_blank" rel="noopener">United Nations</a> in India.</strong></li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1622806197_image5.jpg" target="_blank" rel="noopener"><strong><img class="content-img" src="http://www.drishtiias.com/images/uploads/1622806197_image5.jpg" style="display: block; margin-left: auto; margin-right: auto;" caption="false" width="615" height="409" /></strong></a></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>The NITI Aayog <strong>launched its index in 2018 </strong>to <strong>monitor the country&rsquo;s progress on the goals through data-driven assessment,</strong> and foster a competitive spirit among the States and Union Territories in achieving them.</li>
<li>NITI Aayog has the <strong>twin mandate to oversee the adoption and monitoring of the SDGs in the country,</strong> and also<strong> promote competitive and cooperative federalism</strong> among States and UTs. <br />
<ul style="list-style-type: disc;">
<li>The index represents<strong> the articulation of the comprehensive nature of the Global Goals under the 2030 Agenda</strong> while being attuned to the national priorities.</li>
<li>In <strong>2015,</strong> the <strong>UNs General Assembly adopted the 2030 Agenda</strong> for Sustainable Development.</li>
<li>The 17 SDGs are a<strong> bold commitment to finish what the Millennium Development Goals (MDGs)</strong> started, and <strong>tackle some of the more pressing challenges.</strong></li>
</ul>
</li>
<li>The SDG India Index 2020&ndash;21 is also <strong>live on an online dashboard,</strong> which has cross-sectoral relevance across policy, civil society, business, and academia.</li>
</ul>
</li>
<li><strong>Methodology:</strong><br />
<ul style="list-style-type: circle;">
<li>The SDG India Index <strong>computes goal-wise scores on the 16 SDGs</strong> for each State and Union Territory.</li>
<li>These <strong>scores range between 0&ndash;100,</strong> and if a State/UT achieves a score of 100, it signifies it has achieved the 2030 targets. <br />
<ul style="list-style-type: disc;">
<li>The higher the score of a State/UT, the greater the distance to target achieved.</li>
</ul>
</li>
<li>States and Union Territories are classified in <strong>four categories</strong> based on their SDG India Index score: <strong>Aspirant</strong> (0&ndash;49), <strong>Performer</strong> (50&ndash;64), <strong>Front-Runner</strong> (65&ndash;99), <strong>Achiever</strong> (100).</li>
</ul>
</li>
<li><strong>Comparison with Previous Editions:</strong><br />
<ul style="list-style-type: circle;">
<li>The SDG India Index 2020&ndash;21 is <strong>more robust than the previous editions</strong> on account of wider coverage of targets and indicators with greater alignment with the <a href="/daily-updates/daily-news-analysis/national-monitoring-framework-on-sustainable-development-goals" target="_blank" rel="noopener"><strong>National Indicator Framework (NIF).</strong></a></li>
<li>The 115 indicators<strong> incorporate 16 out of 17 SDGs,</strong> with a qualitative assessment on Goal 17, and cover 70 SDG targets.</li>
<li>This is an <strong>improvement over the 2018&ndash;19 and <a href="/daily-updates/daily-news-analysis/sdg-india-index-by-niti-ayog" target="_blank" rel="noopener">2019&ndash;20</a> editions</strong> of the index, which had utilised 62 indicators across 39 targets and 13 Goals, and 100 indicators across 54 targets and 16 Goals, respectively.</li>
</ul>
</li>
<li><strong>National Analysis:</strong><br />
<ul style="list-style-type: circle;">
<li>The country&rsquo;s <strong>overall SDG score improved by 6 points -</strong> from 60 in 2019 to 66 in 2020&ndash;21. <br />
<ul style="list-style-type: disc;">
<li>Currently, there are <strong>no states in the aspirant and achiever category;</strong> 15 states/UTs are in the performer category and 22 states/UTs in the front runner category.</li>
</ul>
</li>
<li>India saw significant<strong> improvement in the SDGs related to clean energy, urban development and health in 2020.</strong> However, there has been a <strong>major decline in the areas of industry, innovation and infrastructure as well as decent work and economic growth.</strong></li>
</ul>
</li>
<li><strong>State Wise Performance:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Kerala retained its position at the top</strong> of the rankings in the third edition of the index, with a score of 75,<strong> followed by Tamil Nadu and Himachal Pradesh,</strong> both scoring 72.</li>
<li>At the other end of the scale, <strong>Bihar, Jharkhand and Assam were the worst performing States.</strong> However, all States showed some improvement from last year&rsquo;s scores, with Mizoram and Haryana seeing the biggest gains.</li>
</ul>
</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1622806598_image%200.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1622806598_image 0.png" style="display: block; margin-left: auto; margin-right: auto;" width="650" caption="false" /></a></p>
<p><a href="https://pib.gov.in/PressReleseDetailm.aspx?PRID=1723952" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
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	(int) 9 => object(Cake\ORM\Entity) {

		'article_id' => (int) 8504,
		'category_id' => (int) 21,
		'title' => 'Positive Indigenisation List',
		'description' => '<h3>Why in News</h3>
<p>The <strong>Ministry of Defence (MoD)</strong> has notified the <strong>second negative import list</strong>, now renamed as the<strong> &lsquo;positive<a href="/to-the-points/paper3/indigenisation-of-defence" target="_blank" rel="noopener"> indigenisation</a> list'</strong> of 108 items.</p>
<ul style="list-style-type: square;">
<li>The<a href="/daily-updates/daily-news-analysis/negative-imports-list-for-defence" target="_blank" rel="noopener"><strong> 'First Negative Indigenisation&rsquo;</strong></a> List comprising 101 items was notified in August 2020.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About the Second Positive Indigenisation List:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Procurement:</strong> All the 108 items will now be procured from indigenous sources as per provisions given in <a href="/daily-updates/daily-news-analysis/defence-acquisition-procedure-2020" target="_blank" rel="noopener"><strong>Defence Acquisition Procedure (DAP) 2020</strong></a>.</li>
<li><strong>Timeline:</strong> It is planned to be implemented progressively with effect from <strong>December 2021 to December 2025.</strong></li>
<li><strong>Items Included:</strong> <br />
<ul style="list-style-type: disc;">
<li>It comprises complex systems, sensors, simulator, weapons and ammunitions like Helicopters, Next Generation Corvettes, Airborne Early Warning and Control (AEW&amp;C) systems, Tank Engines, Medium Power Radar for Mountains, <a href="/daily-updates/daily-news-analysis/army-variant-of-mrsam" target="_blank" rel="noopener"><strong>MRSAM (Medium Range Surface to Air Missile) Weapon Systems</strong></a> and many more such items to fulfil the requirements of Indian Armed Forces.</li>
</ul>
</li>
<li><strong>Potential Benefits:</strong> <br />
<ul style="list-style-type: disc;">
<li>It will give a boost to indigenisation with <strong>active participation of public and private sector</strong> for fulfilling the twin objectives of achieving self-reliance (<a href="/daily-updates/daily-news-analysis/atmanirbhar-bharat-and-economic-stimulus" target="_blank" rel="noopener"><strong>Atmanirbhar Bharat</strong></a>) and promoting defence exports.</li>
<li><strong>Import substitution of ammunition</strong> which is a recurring requirement has been given special focus.</li>
<li>Not only does the list recognise the potential of the local defence industry, it will also invigorate impetus to <strong>domestic Research &amp; Development</strong> by attracting fresh investment into technology and manufacturing capabilities.</li>
<li>It also provides an <strong>excellent opportunity for &lsquo;start-ups&rsquo;</strong>, as <a href="/daily-updates/daily-news-editorials/msme-sector-in-india" target="_blank" rel="noopener"><strong>Micro, Small, and Medium Enterprises (MSMEs)</strong></a> will get a tremendous boost from this initiative.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Other Initiatives Taken to Boost Domestic Production of Defence Equipment:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Increased Capital Acquisition Budget (CAB) for Domestic Sector:</strong> The Ministry of Defence has decided to earmark around 64% of its modernisation funds under the capital acquisition budget for 2021-22, a sum of Rs 70,221 crore, for purchases from the domestic sector.<br />
<ul style="list-style-type: disc;">
<li>For FY 2020-21, the capital budget allocation for domestic vendors was made at 58%, an amount of Rs. 52,000 crore.</li>
</ul>
</li>
<li><strong>Defence Industrial Corridors:</strong> India has inaugurated <strong>two defence industrial corridors, one in Tamil Nadu and the other in Uttar Pradesh</strong> to boost the flagship &ldquo;Make in India" programme that in turn would attract investment as well as encourage employment generation.<br />
<ul style="list-style-type: disc;">
<li>The Central government has <strong>increased the Foreign Direct Investment (FDI) limit</strong> in the defence sector <strong>from 49 to 74% under automatic route</strong> and <strong>beyond 74% through the government route.</strong></li>
</ul>
</li>
<li><a href="/daily-updates/daily-news-analysis/corporatization-of-ordnance-factory-board" target="_blank" rel="noopener"><strong>Corporatization of the Ordnance Factory Boards</strong></a>: This was announced for better management, so that they can be listed on the stock market and people can buy their shares.</li>
<li><a href="/daily-updates/daily-news-analysis/def-connect-2019" target="_blank" rel="noopener"><strong>Defence India Startup Challenge</strong></a>: DISC aims at supporting Startups/MSMEs/Innovators to create prototypes and/or commercialize products/solutions in the area of National Defence and Security.<br />
<ul style="list-style-type: disc;">
<li>It has been launched by the <strong>Ministry of Defence</strong> in partnership with <strong><a href="/daily-updates/daily-news-analysis/youth-co-lab" target="_blank" rel="noopener">Atal Innovation Mission</a>.</strong></li>
</ul>
</li>
<li><strong>SRIJAN Portal:</strong> It is a one stop shop online portal that provides access to the vendors to take up items for indigenization.</li>
</ul>
</li>
</ul>
<h3>Defence Acquisition Procedure (DAP) 2020</h3>
<ul style="list-style-type: square;">
<li>It <strong>enables the notification of a List of Weapons or Platforms that will be banned for import.</strong></li>
<li>It focuses on <strong>Foreign Direct Investment (FDI) in defence manufacturing and indigenization of the manufacturing prices.</strong></li>
<li>It also introduces several new ideas such as the need to incorporate artificial <strong>intelligence in platforms and systems, use of indigenous software</strong> in defence equipment and <strong>'innovation' by Start-ups and MSMEs as a new category of defence acquisition.</strong></li>
<li>It includes following <strong>procurement categories:</strong> Buy (Indian &ndash; Indigenously Designed Developed and Manufactured), Buy (Indian), Buy and Make (Indian), Buy (Global - Manufacture in India) and Buy (Global).<br />
<ul style="list-style-type: circle;">
<li>It <strong>increases the Indigenous Content (IC) requirement</strong> for all projects from 40% to 50% earlier, depending on the category, to 50% to 60%.</li>
<li>Only under procurement through Buy (Global), foreign vendors can have 30% IC from Indian companies.</li>
</ul>
</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1622626504_image1.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1622626504_image1.png" style="display: block; margin-left: auto; margin-right: auto;" width="600" caption="false" /></a></p>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li>The Ministry of Defence, <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/defence-research-and-development-organisation-drdo" target="_blank" rel="noopener"><strong>Defence Research and Development Organisation (DRDO)</strong></a> and Service Headquarters shall take all necessary steps, including hand holding of the industry, to ensure that the timelines mentioned in the list are met.<br />
<ul style="list-style-type: circle;">
<li>It will thereby facilitate an environment for Indian defence manufacturers to create world class infrastructure, assist in the government&rsquo;s &lsquo;<a href="/daily-updates/daily-news-editorials/five-years-of-make-in-india" target="_blank" rel="noopener"><strong>Make in India</strong></a>&rsquo; vision to make India self-reliant in defence and develop the capabilities for defence export in the near future.</li>
</ul>
</li>
<li>The Ministry of Defence is also expected to put out the final version of the <a href="/daily-updates/daily-news-analysis/draft-defence-production-and-export-promotion-policy-2020" target="_blank" rel="noopener"><strong>&lsquo;Defence&nbsp;</strong></a><strong><a href="/daily-updates/daily-news-analysis/draft-defence-production-and-export-promotion-policy-2020" target="_blank" rel="noopener">Production and Export Promotion Policy (DPEPP) 2020</a>&rsquo;.</strong>
<ul style="list-style-type: circle;">
<li>DPEPP is envisaged as an overarching guiding document to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports.</li>
</ul>
</li>
</ul>
<p><a href="https://www.thehindu.com/news/national/defence-ministry-notifies-second-negative-import-list/article34690749.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
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	(int) 10 => object(Cake\ORM\Entity) {

		'article_id' => (int) 8497,
		'category_id' => (int) 21,
		'title' => 'Horticulture Cluster Development Programme',
		'description' => '<h3><span style="font-weight: 400;">Why in News</span></h3>
<p>The <strong>Ministry of Agriculture and Farmers Welfare</strong> has launched the <strong>Horticulture Cluster Development Programme (CDP)</strong> in order to <strong>promote the export of horticultural produce.</strong></p>
<ul style="list-style-type: square;">
<li><a href="/to-the-points/paper3/horticulture-sector-in-india" target="_blank" rel="noopener"><strong>Horticulture</strong> </a>is the branch of plant agriculture dealing with garden crops, generally fruits, vegetables, and ornamental plants.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Cluster Development Programme (CDP):</strong><br />
<ul style="list-style-type: circle;">
<li><strong>About:</strong><br />
<ul style="list-style-type: disc;">
<li>It is a<a href="/daily-updates/daily-news-analysis/proposal-to-hike-monthly-pensions" target="_blank" rel="noopener"><strong> central sector programme</strong></a> aimed at growing and developing identified horticulture clusters to make them globally competitive.<br />
<ul style="list-style-type: disc;">
<li><strong>Horticulture cluster</strong> is a regional/geographical concentration of targeted horticulture crops.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Implementation:</strong><br />
<ul style="list-style-type: disc;">
<li>It will be implemented by the <strong>National Horticulture Board (NHB)</strong> of the <strong>Ministry of Agriculture and Farmers&rsquo; Welfare.</strong></li>
<li>In a <strong>pilot phase,</strong> the programme will be <strong>implemented in 12 horticulture clusters out of the total 53 clusters</strong> selected for the programme.<br />
<ul style="list-style-type: disc;">
<li>These clusters will be implemented through <strong>Cluster Development Agencies (CDAs)</strong> which are appointed on the recommendations of the respective State/UT Government.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Objectives:</strong><br />
<ul style="list-style-type: disc;">
<li>To address all <strong>major issues related</strong> to the <strong>Indian horticulture sector</strong> including pre-production, production, post-harvest management, logistics, marketing and branding.</li>
<li>To leverage <strong>geographical specialisation</strong> and promote integrated and market-led development of horticulture clusters.</li>
<li>To converge with other initiatives of the Government such as the <a href="/daily-updates/daily-news-analysis/agriculture-infrastructure-fund" target="_blank" rel="noopener"><strong>Agriculture Infrastructure Fund.</strong></a></li>
</ul>
</li>
<li><strong>Expected Benefit:</strong><br />
<ul style="list-style-type: disc;">
<li>The programme will benefit about <strong>10 lakh farmers</strong> and is expected to attract<strong> an investment of Rs. 10,000 crore</strong> when implemented in all the 53 clusters.</li>
</ul>
</li>
</ul>
</li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1622538672_image3.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1622538672_image3.png" style="display: block; margin-left: auto; margin-right: auto;" width="550" caption="false" /></a></p>
<ul style="list-style-type: square;">
<li><strong>Horticulture Sector in India:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>India is the second-largest producer of horticulture crops globally,</strong> accounting for approximately 12% of the world&rsquo;s production of fruits and vegetables.<br />
<ul style="list-style-type: disc;">
<li>India is a leader in producing fruits like Mango, Banana, Pomegranate, Sapota, Acid Lime and Aonla.</li>
</ul>
</li>
<li>In 2018-19,<strong> Andhra Pradesh followed by Maharashtra and UP</strong> were the<strong> top states in fruit production.</strong><br />
<ul style="list-style-type: disc;">
<li><strong>West Bengal, Uttar Pradesh and Madhya Pradesh</strong> were the<strong> top States in vegetable production.</strong></li>
</ul>
</li>
<li>The<strong> area under horticulture crops increased to 25.5 million hectare in 2018-19,</strong> which is 20% of the total area under foodgrain, and produced 314 million tonnes.</li>
<li><strong>Recent steps taken for this sector:</strong><br />
<ul style="list-style-type: disc;">
<li>The Ministry has provided an enhanced allocation of<strong> Rs. 2250 Crore</strong> for the year <strong>2021-22</strong> for <a href="/daily-updates/daily-news-analysis/mission-for-integrated-development-of-horticulture" target="_blank" rel="noopener"><strong>&lsquo;Mission for Integrated Development of Horticulture&rsquo; (MIDH).</strong></a></li>
<li><strong>MIDH</strong> is a<a href="/daily-updates/daily-news-editorials/reforming-centrally-sponsored-scheme" target="_blank" rel="noopener"><strong> Centrally Sponsored Scheme</strong> </a>for the holistic growth of the horticulture sector covering fruits, vegetables, root &amp; tuber crops, mushrooms, spices, flowers, aromatic plants, coconut, cashew, cocoa and bamboo.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li>There is tremendous scope for enhancing the productivity of Indian horticulture which is imperative to cater to the <strong>country&rsquo;s estimated demand of 650 Million MT of fruits and vegetables by the year 2050.</strong></li>
<li>Some of the new initiatives like focus on planting material production, cluster development programme, credit push through <a href="/daily-updates/daily-news-analysis/agriculture-infrastructure-fund-1" target="_blank" rel="noopener"><strong>Agri Infra Fund</strong></a>, formation and promotion of <a href="/daily-updates/daily-news-editorials/farmers-producer-organisation" target="_blank" rel="noopener"><strong>FPOs (Farmers Producer Organisations)</strong></a> are the right steps in this direction.</li>
</ul>
<p><a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1723155" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
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	(int) 11 => object(Cake\ORM\Entity) {

		'article_id' => (int) 8483,
		'category_id' => (int) 21,
		'title' => '43rd GST Council Meeting',
		'description' => '<h3>Why in News</h3>
<p>Recently, the 43<sup>rd</sup> <a href="/daily-updates/daily-news-analysis/gst-council-meet" target="_blank" rel="noopener"><strong>Goods and Services Tax (GST) Council</strong></a> meeting was held.</p>
<ul style="list-style-type: square;">
<li>This was the <strong>first meeting of the GST Council in the financial year 2021-22.</strong> The council&rsquo;s last meeting was held in October 2020.</li>
</ul>
<div class="border-bg">
<p><strong>GST Council</strong></p>
<ul style="list-style-type: square;">
<li>It is a <strong>constitutional body (Article 279A)</strong> for making recommendations to the Union and State Government on issues related to <strong>Goods and Services Tax.</strong></li>
<li>The GST Council is <strong>chaired by the Union Finance Minister</strong> and other members are the Union State Minister of Revenue or Finance and Ministers in-charge of Finance or Taxation of all the States.</li>
<li>It is considered as a <strong>federal body where both the centre and the states get due representation.</strong></li>
</ul>
</div>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Ad Hoc Exemptions for Covid-Related Equipment:</strong><br />
<ul style="list-style-type: circle;">
<li>The GST Council decided to exempt the import of many such items. <br />
<ul style="list-style-type: disc;">
<li>The exemption has been <strong>extended to August 2021.</strong></li>
</ul>
</li>
<li>Exemptions will be granted <strong>to the import of relief items</strong> even if they have been purchased as long as they are meant for donations to state governments. <br />
<ul style="list-style-type: disc;">
<li>Earlier, <strong>Integrated Goods &amp; Services Tax (IGST)</strong> exemption <strong>was granted only free of cost imports.</strong></li>
</ul>
</li>
<li>With the rising cases of <a href="/daily-updates/daily-news-analysis/mucormycosis-1" target="_blank" rel="noopener"><strong>Black Fungus</strong></a>, a particular medicine required for it &mdash; <strong>amphotericin-B &mdash;</strong> has also been included in the exemption list<strong> (for tax-free imports).</strong></li>
<li>It also proposed to set-up a<strong> Group of Ministers (GoM) committee</strong> to<strong> look into further exemptions</strong> that can be provided on account of the <a href="/daily-updates/daily-news-editorials/comprehensive-action-plan-for-covid-19" target="_blank" rel="noopener"><strong>Covid-19</strong></a> relief measure.</li>
</ul>
</li>
<li><strong>GST Amnesty Scheme:</strong><br />
<ul style="list-style-type: circle;">
<li>It has been <strong>recommended for reducing late fees.</strong> Taxpayers can file pending returns, avail benefits of the scheme, with reduced late fees.<br />
<ul style="list-style-type: disc;">
<li>It will provide <strong>relief to small taxpayers who constitute 89% of GST payers.</strong></li>
</ul>
</li>
<li><strong>Late fees have also been rationalised.</strong> The maximum amount of late fee has been reduced and it will come into effect from <strong>future tax periods.</strong> <br />
<ul style="list-style-type: disc;">
<li>This will provide<strong> long-term relief for small GST taxpayers.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>GST Compensation Cess (States&rsquo; Dues):</strong> <br />
<ul style="list-style-type: circle;">
<li>Same formula as in 2020 will be adopted this year too. The rough estimate is that the <strong>Centre will have to borrow Rs 1.58 lakh crore,</strong> which will be passed on to states as back-to-back loans.</li>
<li>A special session of the GST Council will be held to discuss <strong>extending paying compensation to states beyond 2022.</strong></li>
</ul>
</li>
<li><strong>Advance Payment to Vaccine Manufacturers:</strong><br />
<ul style="list-style-type: circle;">
<li>Rs. 4,500 crore rupees were paid to two vaccine manufacturers as advance payment.</li>
<li>The country is engaging with <strong>suppliers and manufacturers including from Japan, and Europe for<a href="/daily-updates/daily-news-editorials/covid-19-vaccine-policy" target="_blank" rel="noopener"> vaccines</a>.</strong></li>
</ul>
</li>
<li><strong>Annual Return Filing:</strong><br />
<ul style="list-style-type: circle;">
<li>Annual return filing has been<strong> simplified.</strong> The Council has <strong>recommended amending the <a href="/to-the-points/paper3/goods-and-services-tax-gst-1" target="_blank" rel="noopener">Central Goods &amp; Services Tax (CGST) Act 2017</a></strong> to allow for self-certification of reconciliation statements, instead of getting it certified by Chartered Accountants.</li>
<li>The<strong> Annual Return filing will continue to be optional</strong> for 2020-21 for <strong>small taxpayers,</strong> having a<strong> turnover of less than two crore rupees</strong> while reconciliation statements for 2020-21 will be furnished only by those taxpayers whose turnover is five crore rupees or more.</li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>GST Compensation Cess</strong></p>
<ul style="list-style-type: square;">
<li>GST Compensation Cess is<strong> levied by the GST Act 2017.</strong> The object of levying this cess is <strong>to compensate the states for the loss of revenue arising due to the implementation of GST on 1<sup>st</sup> July 2017 for a period of five years</strong> or such period as recommended by the GST Council.</li>
<li>Compensation cess is levied <strong>over and above the amount of GST charged in relation to a particular supply.</strong> The calculation is similar to that of GST &ndash; the prescribed rate is applied to the transaction value given under <strong>section 15 of the CGST Act 2017 to arrive at the cess liability.</strong></li>
</ul>
</div>
<p><a href="https://indianexpress.com/article/business/economy/43rd-gst-council-meeting-outcome-key-announcements-finance-minister-nirmala-sitharaman-tax-on-medical-oxygen-concentrators-covid-19-related-medicines-vaccine-materials-7334289/" target="_blank" rel="noopener"><strong>Source:IE</strong></a></p>',
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		'article_id' => (int) 8471,
		'category_id' => (int) 21,
		'title' => 'Currency Swap Facility',
		'description' => '<h3>Why in News</h3>
<p>Recently,<strong> Bangladesh cleared a USD 200 million currency swap facility for Sri Lanka,</strong> to help boost its economy.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>The <strong>word swap</strong> means <strong>exchange.</strong> A <strong>currency swap</strong> between the two countries is an <strong>agreement or contract to exchange currencies</strong> with predetermined terms and conditions.</li>
<li>In the <strong>present context,</strong> a currency swap is effectively<strong> a loan that Bangladesh will give to Sri Lanka in dollars,</strong> with an agreement that the <strong>debt will be repaid with interest in Sri Lankan rupees. </strong></li>
<li><strong>Central banks and Governments</strong> engage in currency swaps<strong> with foreign counterparts</strong> to meet <strong>short term foreign exchange liquidity</strong> requirements or to ensure adequate foreign currency to<strong> avoid Balance of Payments (BOP)</strong> <strong>crisis</strong> till longer arrangements can be made.<br />
<ul style="list-style-type: disc;">
<li><strong>For Sri Lanka,</strong> this is<strong> cheaper than borrowing from the market,</strong> and a lifeline as it struggles to maintain adequate forex reserves even as repayment of its external debts looms.</li>
</ul>
</li>
<li>These swap operations carry<strong> no exchange rate or other market risks</strong> as transaction terms are set in advance.<br />
<ul style="list-style-type: disc;">
<li><strong>Exchange rate risk,</strong> also known as<strong> currency risk,</strong> is the financial risk arising from <strong>fluctuations in the value of a base currency against a foreign currency</strong> in which a company or individual has assets or obligations.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Unusual for Bangladesh:</strong><br />
<ul style="list-style-type: circle;">
<li>Bangladesh has <strong>not been viewed so far as a provider of financial assistance to other countries.</strong> It has been<strong> among the most impoverished countries of the world,</strong> and <strong>still receives billions of dollars in financial aid.</strong></li>
<li>But <strong>over the last two decades,</strong> it has <strong>managed to elevate its economy itself majorly,</strong> and in<strong> 2020,</strong> was the <strong>fastest growing in South Asia.</strong><br />
<ul style="list-style-type: disc;">
<li>The country has <strong>managed to pull millions out of poverty.</strong> Its <a href="/daily-updates/daily-news-analysis/world-economic-outlook-imf" target="_blank" rel="noopener"><strong>per capita income just overtook India&rsquo;s.</strong></a></li>
</ul>
</li>
<li>This <strong>may be the first time that Bangladesh is extending a helping hand</strong> to another country, so this is a landmark of sorts.</li>
</ul>
</li>
<li><strong>Sri Lanka&rsquo;s Approach to India:</strong><br />
<ul style="list-style-type: circle;">
<li>In 2020, the President of Sri Lanka<strong> requested India for a USD 1 billion credit swap,</strong> and separately,<strong> a moratorium</strong> on debts that the country has to repay to India.</li>
<li>But India-Sri Lanka relations have been <strong>tense over Colombo&rsquo;s decision to cancel a valued container terminal project at <a href="/daily-updates/daily-news-analysis/china-s-new-project-in-sri-lanka" target="_blank" rel="noopener">Colombo Port</a></strong>, which made India put off the decision.</li>
<li><strong>Earlier, in July 2020, the Reserve Bank of India (RBI) extended a USD 400 million credit swap facility to Sri Lanka,</strong> which the Central Bank of Sri Lanka settled in February. The arrangement was not extended.</li>
</ul>
</li>
<li><strong>RBI&rsquo;s Framework for Swap Facilities for SAARC:</strong><br />
<ul style="list-style-type: circle;">
<li>The<a href="/daily-updates/daily-news-analysis/currency-swap-arrangement-for-saarc" target="_blank" rel="noopener"><strong> SAARC currency swap facility</strong> </a>came into operation on <strong>15<sup>th</sup> November, 2012.</strong></li>
<li>The<strong> revised framework</strong> is valid from 14<sup>th</sup> November, 2019 to 13<sup>th</sup> November, 2022.</li>
<li>The <strong>RBI can offer a swap arrangement within the overall corpus of USD 2 billion.</strong></li>
<li>The swap drawals can be made in US dollar, euro or Indian rupee. The framework provides <strong>certain concessions for swap drawals in Indian rupee.</strong></li>
<li>The facility will be <strong>available to all SAARC member countries,</strong> subject to their signing the bilateral swap agreements.</li>
<li>The<strong> presumption was that only India, as the regional group&rsquo;s largest economy, could do this.</strong> The <strong>Bangladesh-Sri Lanka arrangement shows that is no longer valid.</strong></li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Balance of Payment</strong></p>
<ul style="list-style-type: square;">
<li><strong>Definition:</strong><br />
<ul style="list-style-type: circle;">
<li><a href="/daily-updates/daily-news-analysis/india-s-merchandise-trade-deficit" target="_blank" rel="noopener"><strong>Balance of Payment (BoP)</strong></a> of a country can be defined as <strong>a systematic statement of all economic transactions of a country with the rest of the world</strong> during a specific period usually one year.</li>
<li>Overall the <strong>BoP account can be a surplus or a deficit.</strong><br />
<ul style="list-style-type: disc;">
<li>If there is a deficit then it can be bridged by taking money from the<strong> Foreign Exchange (Forex) Account.</strong></li>
<li>If the reserves in the forex account are falling short then this scenario is referred to as <strong>BoP crisis.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Components of BOP:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Current Account:</strong> It shows <strong>export and import of visibles and invisibles</strong> (includes goods and services).</li>
<li><strong>Capital Account:</strong> It shows a capital expenditure and income for a country. It gives <strong>a summary of the net flow of both private and public investment</strong> into an economy.</li>
<li><strong>Errors and Omissions:</strong> Sometimes the balance of payment does not balance. This imbalance is shown in the BoP as errors and omissions.</li>
</ul>
</li>
</ul>
<p><strong>Foreign Exchange Reserves</strong></p>
<ul style="list-style-type: square;">
<li><a href="/daily-updates/daily-news-analysis/forex-reserves-2" target="_blank" rel="noopener"><strong>Foreign exchange reserves</strong></a> are <strong>assets denominated in a foreign currency that are held by a central bank.</strong></li>
<li>These may include <strong>foreign currencies, bonds, treasury bills, and other government securities.</strong></li>
<li>These reserves are used<strong> to back liabilities and influence monetary policy. </strong></li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/international/bangladesh-clears-currency-swap-facility-to-boost-sri-lankas-depleting-foreign-reserves/article34651289.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
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		'article_id' => (int) 8463,
		'category_id' => (int) 21,
		'title' => 'National Mission on use of Biomass in Coal Based Thermal Power Plants',
		'description' => '<h3>Why in News</h3>
<p>Recently, the Ministry of Power has decided to set up a <strong>National Mission on use of Biomass in coal based thermal power plants.</strong></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>The proposed National Mission on biomass will also contribute to the <strong><a href="/daily-updates/daily-news-analysis/national-clean-air-programme" target="_blank" rel="noopener">National Clean Air Programme (NCAP)</a>.</strong></li>
<li>It would further <strong>support the energy transition in the country</strong> and our targets to move towards <strong>cleaner energy sources.</strong></li>
</ul>
</li>
<li><strong>Aim:</strong><br />
<ul style="list-style-type: circle;">
<li>To <strong>address the issue of <a href="/daily-updates/daily-news-editorials/air-pollution-concerted-efforts" target="_blank" rel="noopener">air pollution</a></strong> due to farm <a href="/daily-updates/daily-news-editorials/stubble-burning-2" target="_blank" rel="noopener"><strong>stubble burning</strong></a> and to <strong>reduce carbon footprints of thermal power generation.</strong></li>
</ul>
</li>
<li><strong>Objective:</strong><br />
<ul style="list-style-type: circle;">
<li>Increase the <strong>level of <a href="/daily-updates/daily-news-analysis/reducing-emissions-from-coal-based-power-sector" target="_blank" rel="noopener">biomass co-firing</a> from present 5% to higher levels</strong> to have a larger share of carbon neutral power generation from the thermal power plants.<br />
<ul style="list-style-type: disc;">
<li><strong>Biomass co-firing</strong> stands for adding biomass as a partial substitute fuel in high efficiency coal boilers.</li>
</ul>
</li>
<li><strong>Take up R&amp;D (Research &amp; Development)</strong> activity in boiler design to handle the higher amount of silica, alkalis in the biomass pellets.</li>
<li><strong>Facilitate overcoming the constraints in supply chain of biomass</strong> pellets and agro- residue and its transport upto to the power plants.</li>
<li>Consider <strong>regulatory issues in biomass co-firing.</strong></li>
</ul>
</li>
<li><strong>Proposed Structure:</strong><br />
<ul style="list-style-type: circle;">
<li>The Mission would have a <strong>Steering Committee headed by the Secretary (Ministry of Power)</strong> comprising all stakeholders including <strong>representatives from the Ministry of Petroleum &amp; Natural Gas , Ministry of New &amp; Renewable Energy etc.</strong></li>
<li><a href="/daily-updates/daily-news-analysis/national-thermal-power-corporation-limited" target="_blank" rel="noopener"><strong>National Thermal Power Corporation Limited</strong></a> will play a larger role in providing logistics and infrastructure support.</li>
</ul>
</li>
<li><strong>Duration:</strong><br />
<ul style="list-style-type: circle;">
<li>The duration of the proposed National Mission would be a <strong>minimum 5 years.</strong></li>
</ul>
</li>
<li><strong>Initiatives to Reduce Pollution from Coal Power Plants:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Stringent emission standards</strong> for coal based thermal power plants have been notified.<br />
<ul style="list-style-type: disc;">
<li>Compulsory adoption of emissions standards for installing <a href="/daily-updates/daily-news-analysis/sulfur-dioxide-emission-norms-delayed" target="_blank" rel="noopener"><strong>Flue Gas Desulphurization (FGD)</strong> </a>units that cut emissions of toxic sulphur dioxide.</li>
</ul>
</li>
<li><strong>Approved automatic transfer of coal linkage from inefficient power plants</strong> <strong>to new supercritical plants</strong> subject to certain conditions to promote setting up of supercritical units in place of old ones.</li>
<li>Thermal power plants within 50 km of sewage treatment facilities will <strong>mandatorily use treated sewage water.</strong></li>
</ul>
</li>
<li><strong>Other Initiatives to Reduce Air Pollution:</strong><br />
<ul style="list-style-type: circle;">
<li><strong><a href="/loksabha-rajyasabha-discussions/policy-watch-india-will-shift-to-bs-vi-norms" target="_blank" rel="noopener">Bharat Stage-VI (BS-VI) emission norms</a>.</strong></li>
<li><strong><a href="/daily-updates/daily-news-analysis/report-on-energy-efficiency-measures" target="_blank" rel="noopener">UJALA scheme</a>.</strong></li>
<li><strong><a href="/daily-updates/daily-news-analysis/report-on-energy-efficiency-measures" target="_blank" rel="noopener">International Solar Alliance</a>.</strong></li>
<li><strong><a href="/to-the-points/Paper2/national-action-plan-on-climate-change" target="_blank" rel="noopener">National Action Plan on Climate Change (NAPCC)</a>.</strong></li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Biomass</strong></p>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Biomass</strong> is plant or animal material used as fuel to produce electricity or heat. Examples are wood, energy crops and waste from forests, yards, or farms.</li>
<li>Biomass has always been an <strong>important energy source for the country considering the benefits it offers.</strong></li>
</ul>
</li>
<li><strong>Benefits:</strong> <br />
<ul style="list-style-type: circle;">
<li>It is<strong> renewable, widely available, carbon-neutral</strong> and has the potential to provide <strong>significant employment in the rural areas.</strong></li>
<li>It is also capable of providing firm energy. About <strong>32% of the total primary energy use in the country is still derived from biomass</strong> and more than <strong>70% of the country&rsquo;s population depends upon it</strong> for its energy needs.</li>
</ul>
</li>
<li><strong>Biomass power &amp; cogeneration programme:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>About:</strong><br />
<ul style="list-style-type: disc;">
<li>Initiated by the <strong>Ministry of New and Renewable Energy.</strong></li>
<li>For efficient utilization of biomass, <strong>bagasse based cogeneration in sugar mills and biomass power generation</strong> have been taken up under the programme.</li>
<li><strong>Biomass materials used for power generation include</strong> Rice husk, straw, cotton stalk, coconut shells, soya husk, de-oiled cakes, coffee waste, jute wastes, groundnut shells, saw dust etc.</li>
</ul>
</li>
<li><strong>Objective:</strong><br />
<ul style="list-style-type: disc;">
<li><strong>Promoting technologies for optimum use</strong> of the country's biomass resources for grid power generation.</li>
</ul>
</li>
</ul>
</li>
</ul>
</div>
<p><a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1721473" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
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	(int) 14 => object(Cake\ORM\Entity) {

		'article_id' => (int) 8446,
		'category_id' => (int) 21,
		'title' => 'Semiconductor Chips Shortage in Vehicle Manufacturing',
		'description' => '<h3>Why in News</h3>
<p>Recently, an unusual<strong> shortage of inputs, especially semiconductor chips,</strong> has made <strong>India-based vehicle manufactures</strong> (car manufactures and premium bikes) curtail production across categories.</p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Semiconductor Chips:</strong><br />
<ul style="list-style-type: circle;">
<li>Semiconductors are<strong> materials which have a conductivity between conductors</strong> (generally metals) <strong>and nonconductors or insulators</strong> (such as most ceramics). Semiconductors can be pure elements, such as <strong>silicon or germanium,</strong> or compounds such as<strong> gallium arsenide or cadmium selenide.</strong><br />
<ul style="list-style-type: disc;">
<li><strong>Conductivity</strong> is the measure of the ease at which an electric charge or heat can pass through a material.<a href="http://www.drishtiias.com/images/uploads/1621942131_image2.png" target="_blank" rel="noopener"><img class="content-img" src="http://www.drishtiias.com/images/uploads/1621942131_image2.png" style="display: block; margin-left: auto; margin-right: auto;" width="600" caption="false" /></a></li>
</ul>
</li>
<li>A <strong>semiconductor chip is an electric circuit</strong> with many components such as transistors and wiring formed on a semiconductor wafer. An electronic device comprising numerous of these components is called <strong>Integrated Circuit (IC),</strong> and can be found in electronic devices such as computers, smartphones, appliances, gaming hardware and medical equipment.<br />
<ul style="list-style-type: disc;">
<li>These devices find <strong>widespread use in almost all industries, especially in the automobile industry.</strong></li>
</ul>
</li>
<li>Electronic parts and components today account for <strong>40% of the cost of a new internal combustion engine car,</strong> up from less than 20% two decades ago. <br />
<ul style="list-style-type: disc;">
<li><strong>Semiconductor Chips account for a bulk of this increase.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Reason for Shortage:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Covid and Lockdowns:</strong><br />
<ul style="list-style-type: disc;">
<li>The<a href="/daily-updates/daily-news-editorials/comprehensive-action-plan-for-covid-19" target="_blank" rel="noopener"><strong> Covid-19 pandemic</strong></a> and the subsequent <a href="/daily-updates/daily-news-editorials/covid-19-and-lockdown" target="_blank" rel="noopener"><strong>lockdowns</strong></a> across the world that forced shut crucial chip-making facilities in countries including Japan, South Korea, China and the US.</li>
<li>Its shortage causes<strong> cascading effects,</strong> given that the first one creates pent-up demand that becomes the cause for the follow-up famine.</li>
</ul>
</li>
<li><strong>Increased Consumption:</strong><br />
<ul style="list-style-type: disc;">
<li>The number of transistors mounted in IC chips has doubled every two years. Notably, the<strong> increase in chip consumption over the last decade is also partly attributable</strong> to the rising contribution of electronic components in a car&rsquo;s bill of materials.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Impact:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Reduced Supply:</strong><br />
<ul style="list-style-type: disc;">
<li>Consumers of semiconductor chips, which are mainly <strong>car manufacturers and consumer electronics manufactures,</strong> have not been receiving enough of this crucial input to continue production. <br />
<ul style="list-style-type: disc;">
<li>Chip shortage is measured in chip lead time, which is the <strong>gap between when a chip is ordered and when it is delivered. </strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Reduced Production of Automobiles:</strong><br />
<ul style="list-style-type: disc;">
<li>With just-in-time deliveries, carmakers typically kept low inventory holdings and <strong>relied on an electronics industry supply chain</strong> to feed production lines as per demand.</li>
</ul>
</li>
<li><strong>Delayed Supply and Reduced Features:</strong><br />
<ul style="list-style-type: disc;">
<li>It has caused <strong>delaying vehicle deliveries,</strong> some companies have reportedly started <strong>discarding features and high-end electronic capabilities</strong> on a temporary basis to deal with the chip shortage.</li>
</ul>
</li>
</ul>
</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li>The <strong>present slump in the automobile industry seems to be a temporary</strong> phase. <a href="/daily-updates/daily-news-editorials/covid-19-vaccination" target="_blank" rel="noopener"><strong>Vaccination</strong></a> drive and economic recovery will provide a much needed trigger.</li>
<li>However, at least for some time, there is a <strong>need to reduce <a href="/to-the-points/paper3/goods-and-services-tax-gst-1" target="_blank" rel="noopener">Goods and Services Tax (GST)</a></strong> on entry level cars and that on the two wheelers. <strong>The state governments also need to reduce the road tax.</strong></li>
</ul>
<p><a href="https://indianexpress.com/article/explained/explained-the-semiconductor-chips-shortage-and-how-carmakers-are-coping-7327321/" target="_blank" rel="noopener"><strong>Source: IE</strong></a></p>',
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		'article_id' => (int) 8445,
		'category_id' => (int) 21,
		'title' => 'FDI Inflow Touches $82 Bn in FY21',
		'description' => '<h3>Why in News</h3>
<p>In the <strong>Financial Year 2020-21,</strong> India sees<strong> growth of 10% (to $82 bn)</strong> in <a href="/daily-updates/daily-news-analysis/fdi-inflow" target="_blank" rel="noopener"><strong>Foreign Direct Investment (FDI)</strong></a>. FDI<strong> equity investments rise 19%</strong> to $60 billion.</p>
<ul style="list-style-type: square;">
<li>In <strong>2019-20,</strong> India had <strong>received $74.39</strong> billion in FDI, with almost<strong> $50 billion</strong> coming in the form of<strong> equity investments.</strong></li>
</ul>
<p><a href="http://www.drishtiias.com/images/uploads/1621941331_image5.jpg" target="_blank" rel="noopener"><strong><img class="content-img" src="http://www.drishtiias.com/images/uploads/1621941331_image5.jpg" style="display: block; margin-left: auto; margin-right: auto;" width="400" caption="false" /></strong></a></p>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Top Investors:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Singapore</strong> emerged as the<strong> top investor</strong> with almost a third of all investments, <strong>followed by the US</strong> which accounted for <strong>23% of FDI</strong> and <strong>Mauritius from where 9%</strong> of the foreign capital flows originated.</li>
</ul>
</li>
<li><strong>Sharpest Growth from Saudi Arabia:</strong><br />
<ul style="list-style-type: circle;">
<li>The sharpest growth among the<strong> top 10 FDI-origin countries</strong> was recorded from <strong>Saudi Arabia.</strong></li>
<li>Investments jumped from $90 million <strong>in 2019-20</strong> to <strong>$2.8 billion in 2020-21.</strong></li>
</ul>
</li>
<li><strong>FDI Equity:</strong><br />
<ul style="list-style-type: circle;">
<li>FDI equity flows<strong> from the US more than doubled</strong> during the year compared with 2019-20, while<strong> investments from the UK surged 44%. </strong></li>
</ul>
</li>
<li><strong>Top FDI Destinations;</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Gujarat</strong> was the <strong>top</strong> FDI destination in 2020-21, accounting fo<strong>r 37% of</strong> the foreign equity inflows, followed by <strong>Maharashtra (2<sup>nd</sup>)</strong> which got <strong>27% of</strong> the equity inflows.</li>
<li><strong>Karnataka (3<sup>rd</sup>)</strong> accounted for another 13% of the equity investments.</li>
</ul>
</li>
<li><strong>Top Sectors:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Computer software and hardware</strong> has emerged as the top sector during 2020-21 with about <strong>44% share</strong> of the total FDI equity inflow.</li>
<li>These are followed by <strong>construction (infrastructure) activities</strong> (13%) and<strong> services sector (8%),</strong> respectively.</li>
</ul>
</li>
</ul>
<h3>Foreign Direct Investment</h3>
<ul style="list-style-type: square;">
<li><strong>Definition:</strong> <a href="/daily-updates/daily-news-analysis/fdi-inflow" target="_blank" rel="noopener"><strong>FDI</strong></a> is the process whereby residents of one country (the home country) acquire ownership of assets for the purpose of controlling the production, distribution and other activities of a firm in another country (the host country).<br />
<ul style="list-style-type: circle;">
<li>It is different from <a href="/daily-updates/daily-news-analysis/increase-in-foreign-portfolio-investment" target="_blank" rel="noopener"><strong>Foreign Portfolio Investment</strong></a> where the foreign entity merely buys stocks and bonds of a company. FPI does not provide the investor with control over the business.</li>
</ul>
</li>
<li><strong>Three Components:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Equity capital</strong> is the foreign direct investor&rsquo;s purchase of shares of an enterprise in a country other than its own.</li>
<li><strong>Reinvested earnings</strong> comprise the direct investors&rsquo; share of earnings not distributed as dividends by affiliates, or earnings not remitted to the direct investor. Such retained profits by affiliates are reinvested.</li>
<li><strong>Intra-company loans</strong> or intra-company debt transactions refer to short- or long-term borrowing and lending of funds between direct investors (or enterprises) and affiliate enterprises.</li>
</ul>
</li>
<li><strong>Routes through which India gets FDI:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Automatic Route:</strong> In this, the foreign entity does not require the prior approval of the government or the RBI.</li>
<li><strong>Government Route:</strong> In this, the foreign entity has to take the approval of the government.<br />
<ul style="list-style-type: disc;">
<li>The <a href="/daily-updates/daily-news-analysis/unified-single-window-clearance-system" target="_blank" rel="noopener"><strong>Foreign Investment Facilitation Portal (FIFP)</strong></a> facilitates the single window clearance of applications which are through approval route.</li>
<li>It is administered by the <a href="/daily-updates/daily-news-analysis/dipp-renamed-as-dpiit" target="_blank" rel="noopener"><strong>Department for Promotion of Industry and Internal Trade</strong></a> (DPIIT), Ministry of Commerce and Industry.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Government Measures to Promote FDI:</strong><br />
<ul style="list-style-type: circle;">
<li>In <strong>2020,</strong> factors such as a swift response in combating the <a href="/daily-updates/daily-news-editorials/comprehensive-action-plan-for-covid-19" target="_blank" rel="noopener"><strong>Covid crisis</strong></a>, favourable demographics, impressive mobile and internet penetration, massive consumption and technology uptake, played an important role in attracting the investments.</li>
<li>Launch of Schemes attracting investments, such as, <a href="/daily-updates/daily-news-analysis/export-promotion-council-for-technical-textiles" target="_blank" rel="noopener"><strong>National technical Textile Mission</strong></a>, <a href="/daily-updates/daily-news-analysis/pli-scheme-for-ten-more-sectors" target="_blank" rel="noopener"><strong>Production Linked Incentive Scheme</strong></a>, <a href="/daily-updates/daily-news-analysis/pradhan-mantri-kisan-sampada-yojana" target="_blank" rel="noopener"><strong>Pradhan Mantri Kisan SAMPADA Yojana</strong></a>, etc.<br />
<ul style="list-style-type: disc;">
<li>The government has elaborated upon the initiatives under the <a href="/daily-updates/daily-news-analysis/measures-on-atmanirbhar-bharat-3-0" target="_blank" rel="noopener"><strong>Atmanirbhar Bharat</strong></a> to encourage investments in different sectors.</li>
</ul>
</li>
<li>As a part of its <a href="/daily-updates/daily-news-editorials/assessment-of-make-in-india" target="_blank" rel="noopener"><strong>Make in India initiative</strong></a> to promote domestic manufacturing,<strong> India deregulated FDI rules</strong> for several sectors over the last few years.</li>
</ul>
</li>
</ul>
<p><a href="https://www.thehindu.com/business/Economy/fdi-inflow-touches-82-bn-in-fy21/article34636548.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
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		'article_id' => (int) 8441,
		'category_id' => (int) 21,
		'title' => 'MCA 21 Version 3.0: Digital Corporate Compliance Portal',
		'description' => '<h3>Why in News</h3>
<p>Recently, the government launched the first phase of the latest update to its <strong>digital corporate compliance portal, Ministry of Corporate Affairs (MCA) 21 Version 3.0.</strong></p>
<ul style="list-style-type: square;">
<li>It will help in improving <a href="/daily-updates/daily-news-editorials/what-makes-doing-business-easier" target="_blank" rel="noopener"><strong>Ease of Doing Business</strong></a> in<strong> India. India ranked 63<sup>rd</sup></strong> out of 190 countries in<strong><a href="/daily-updates/daily-news-analysis/ease-of-doing-business-2020" target="_blank" rel="noopener"> Ease Doing Business 2020: World Bank Report</a>.</strong></li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>About:</strong><br />
<ul style="list-style-type: circle;">
<li>It will <strong>leverage the use of latest technologies</strong> to further <strong>streamline the Corporate Compliance</strong> and stakeholders experience.</li>
<li>MCA 21 has been part of <strong>Mission Mode projects of the Government of India.</strong> <br />
<ul style="list-style-type: disc;">
<li><strong>MCA21 Version 3.0</strong> is part of the <a href="/current-affairs-news-analysis-editorials/news-analysis/03-02-2021#:~:text=On%20the%20Commission's%20recommendation%2C%20Rs,14%20states%20in%202020%2D21." target="_blank" rel="noopener"><strong>2021 Budget</strong> </a>announcement.</li>
<li>MCA21 is the online <strong>portal of the Ministry of Corporate Affairs (MCA) that has made</strong> all company related information accessible to various stakeholders and the general public. It was <strong>launched in 2006.</strong></li>
</ul>
</li>
<li>The entire project is proposed to be launched within the <a href="/current-affairs-news-analysis-editorials/news-analysis/03-02-2021" target="_blank" rel="noopener"><strong>Financial Year</strong></a> 2021-22 and will be data analytics and <a href="/daily-updates/daily-news-analysis/rise-in-ai-adoption-in-india-amidst-pandemic" target="_blank" rel="noopener"><strong>machine learning</strong> </a>driven.</li>
<li>The MCA21 V3.0 in its entirety will not only <strong>improve the existing services and modules</strong>, but will also <strong>create new functionalities like e-adjudication, compliance management system, advanced helpdesk, feedback services, user dashboards, self-reporting tools</strong> and revamped master data services. <br />
<ul style="list-style-type: disc;">
<li>It comprises a revamped website, new email services for MCA Officers and two new modules, namely, e. Book and e. Consultation.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Objective:</strong><br />
<ul style="list-style-type: circle;">
<li>It is designed to fully automate all processes related to the proactive enforcement and compliance of the legal requirements under the<a href="/loksabha-rajyasabha-discussions/in-depth-the-companies-amendment-bill-2020#:~:text=Producer%20Companies%3A%20Under%20the%202013,meetings%2C%20and%20maintenance%20of%20accounts." target="_blank" rel="noopener"><strong> Companies Act, 1956</strong></a>, New <a href="/daily-updates/daily-news-analysis/committee-to-review-the-offences-under-the-companies-act" target="_blank" rel="noopener"><strong>Companies Act, 2013</strong></a> and <strong><a href="/daily-updates/daily-news-analysis/decriminalisation-of-offences-under-llp-act#:~:text=About%3A,irrespective%20of%20changes%20in%20partners." target="_blank" rel="noopener">Limited Liability Partnership Act, 2008</a>.</strong> This will help the business community to meet their statutory obligations.</li>
</ul>
</li>
<li><strong>Benefits:</strong><br />
<ul style="list-style-type: circle;">
<li>Easy <strong>access to the updated legislations</strong> along with a tracking mechanism for historical changes in law.</li>
<li>It will <strong>give new meaning to corporate compliance culture</strong> and will further enhance the trust and confidence in the Corporate regulatory and governance system.</li>
</ul>
</li>
<li><strong>Other Measures taken to Improve Ease of Doing Business:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Integrated Incorporation Form :</strong><br />
<ul style="list-style-type: disc;">
<li><strong><a href="/daily-updates/daily-news-analysis/spice-web-form" target="_blank" rel="noopener">Simplified Proforma for Incorporating Company Electronically (SPICe)</a></strong> was introduced which extends <strong>8 services from three Ministries through a single form.</strong></li>
</ul>
</li>
<li><strong>RUN &ndash; Reserve Unique Name:</strong> <br />
<ul style="list-style-type: disc;">
<li>It is <a href="/to-the-points/Paper2/year-end-review-2019-ministry-of-corporate-affairs" target="_blank" rel="noopener"><strong>a web service</strong></a> used for reserving a name for a new company or for changing its existing name. The web service <strong>helps verify whether the name chosen for the company is unique.</strong></li>
</ul>
</li>
<li><strong>Insolvency and Bankruptcy Code:</strong> <br />
<ul style="list-style-type: disc;">
<li>The <a href="/loksabha-rajyasabha-discussions/in-depth-insolvency-and-bankruptcy-code-act" target="_blank" rel="noopener"><strong>Insolvency and Bankruptcy Code of 2016</strong></a> has introduced new dimensions in resolving insolvency in India. It is <strong>India&rsquo;s first comprehensive legislation of corporate insolvency.</strong></li>
</ul>
</li>
</ul>
</li>
</ul>
<p><a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1721263" target="_blank" rel="noopener"><strong>Source: PIB</strong></a></p>',
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	(int) 17 => object(Cake\ORM\Entity) {

		'article_id' => (int) 8426,
		'category_id' => (int) 21,
		'title' => 'Personal Guarantors Liable for Corporate Debt',
		'description' => '<h3>Why in News</h3>
<p>The <a href="/important-institutions/drishti-specials-important-institutions-national-institutions/supreme-court-of-india" target="_blank" rel="noopener"><strong>Supreme Court of India</strong></a> has upheld the<strong> Central Government 2019 notification</strong> that allows lenders to <strong>initiate insolvency proceedings against personal guarantors.</strong></p>
<ul style="list-style-type: square;">
<li>It will allow the lenders to recover their remaining debt from personal guarantors following the conclusion of the <a href="/current-affairs-news-analysis-editorials/news-analysis/16-11-2019" target="_blank" rel="noopener"><strong>Corporate Insolvency Resolution Process (CIRP).</strong></a></li>
<li>The CIRP is a recovery mechanism made available to creditors as under the Insolvency and Bankruptcy Code, 2016 (IBC).</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Background:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Definition:</strong> A personal guarantor is a person or an entity that promises payment of another person&rsquo;s debt, in case the latter fails to pay it off.</li>
<li><strong>Central Government Notification 2019:</strong> It brought personal guarantors to companies facing insolvency proceedings under the purview of the <a href="/to-the-points/paper3/insolvency-and-bankruptcy-code-3#:~:text=To%20consolidate%20and%20amend%20all,in%20a%20time%2Dbound%20manner." target="_blank" rel="noopener"><strong>Insolvency and Bankruptcy Code (IBC).</strong></a><br />
<ul style="list-style-type: disc;">
<li><strong>Section 1(3)</strong> of the IBC code allows the central government to notify different provisions of the code at different dates, to allow its implementation bit by bit.</li>
<li>These rules and regulations lay down the process for<strong> initiating insolvency resolution</strong> and<strong> bankruptcy proceedings</strong> against personal guarantors to corporate debtors, inviting claims from creditors, withdrawal of such applications, etc.</li>
</ul>
</li>
<li><strong>Simultaneously Proceedings:</strong> The new rules and regulations will allow creditors to simultaneously proceed against the principal borrower, i.e. the company, and the personal guarantor before the<a href="/daily-updates/daily-news-analysis/national-company-law-appellate-tribunal-nclat-1#:~:text=The%20NCLAT%20was%20constituted%20under,adjudicates%20issues%20relating%20to%20companies." target="_blank" rel="noopener"><strong> National Company Law Tribunal (NCLT).</strong></a><br />
<ul style="list-style-type: disc;">
<li>Until now, the IBC code only covered insolvency resolution and liquidation of corporate debtors.</li>
</ul>
</li>
<li><strong>Counter Argument:</strong> The Central Government did not have the power to bring in IBC provisions selectively to personal guarantors of corporate debtors.<br />
<ul style="list-style-type: disc;">
<li>The singling out of guarantors is <strong>violative of the fundamental right to equality.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Supreme Court Verdict:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Intrinsic Connection:</strong> There was an &ldquo;intrinsic connection&rdquo; between personal guarantors and their corporate debtors.<br />
<ul style="list-style-type: disc;">
<li><strong>Section 60(2)</strong> of the IBC Code had required the bankruptcy proceedings of corporate debtors and their personal guarantors to be held before a <strong>common forum, the NCLT.</strong></li>
</ul>
</li>
<li><strong>Adjudicating Authority:</strong> The adjudicating authority for personal guarantors will be the NCLT if a parallel resolution process is pending in respect of a corporate debtor for whom the guarantee is given.<br />
<ul style="list-style-type: disc;">
<li>The side by side bankruptcy proceedings before the same forum for both the corporate debtors and their personal guarantors <strong>would help the NCLT consider the whole picture.</strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Concept of Guarantee:</strong> The concept of &lsquo;guarantee&rsquo; is derived from <strong>Section 126</strong> of the<strong> Indian Contracts Act, 1872.</strong> <br />
<ul style="list-style-type: circle;">
<li>A contract of guarantee is made among the debtor, creditor and the guarantor.</li>
<li>If the debtor fails to repay the debt to the creditor, the burden falls on the guarantor to pay the amount.</li>
<li>The creditor reserves the right to begin insolvency proceedings against the personal guarantor if the latter does not pay.</li>
</ul>
</li>
<li><strong>Possible Benefits:</strong><br />
<ul style="list-style-type: circle;">
<li>By initiating the insolvency proceedings against personal guarantors, there is a greater likelihood that they would &ldquo;arrange&rdquo; for the payment of the debt to the creditor bank in order to obtain a quick discharge.</li>
<li>The creditor bank would be prepared to take a haircut or forego the interest amounts so as to enable an equitable settlement of the corporate debt, as well as that of the personal guarantor.</li>
<li>It would result in<strong> maximising the value of assets and promoting entrepreneurship.</strong></li>
</ul>
</li>
</ul>
<div class="border-bg">
<p><strong>Note</strong></p>
<ul style="list-style-type: square;">
<li><strong>Insolvency:</strong> It is a situation where individuals or companies are unable to repay their outstanding debt.</li>
<li><strong>Bankruptcy:</strong> It is a situation whereby a court of competent jurisdiction has declared a person or other entity insolvent, having passed appropriate orders to resolve it and protect the rights of the creditors. It is a legal declaration of one&rsquo;s inability to pay off debts.</li>
</ul>
</div>
<p><a href="https://www.thehindu.com/news/national/sc-upholds-centres-notification-permitting-banks-to-proceed-against-personal-guarantors-under-ibc/article34612708.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
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	(int) 18 => object(Cake\ORM\Entity) {

		'article_id' => (int) 8411,
		'category_id' => (int) 21,
		'title' => 'Social Security Code 2020 ',
		'description' => '<h3>Why in News</h3>
<p>The effectiveness of the <a href="/loksabha-rajyasabha-discussions/the-big-picture-the-labour-code-bills" target="_blank" rel="noopener"><strong>Social Security Code (SS Code) 2020</strong> </a>in helping the informal workforce is questioned by many.</p>
<ul style="list-style-type: square;">
<li>With SS Code 2020, two other codes were passed which are <strong>Code on Occupational Safety, Health &amp; Working Conditions Code,</strong> 2020 and <strong>Industrial Relations Code,</strong> 2020.</li>
<li>The <strong>SS Code 2020 subsumes nine regulations</strong> relating to social security, retirement and employee benefits.</li>
</ul>
<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Major Provisions of SS Code 2020:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Enhanced Coverage:</strong><br />
<ul style="list-style-type: disc;">
<li>The Code has <strong>widened coverage by including the unorganised sector,</strong> fixed term employees and gig workers, platform workers, inter-state migrant workers etc.</li>
</ul>
</li>
<li><strong>National Database and Registration:</strong><br />
<ul style="list-style-type: disc;">
<li>With the aim of making a national database for unorganised sector workers,<strong> registration of all these workers would be done on an online portal</strong> and this registration would be done <strong>on the basis of Self certification</strong> through a simple procedure.<br />
<ul style="list-style-type: disc;">
<li>All<strong> records and returns</strong> have to be <strong>maintained electronically. </strong></li>
</ul>
</li>
</ul>
</li>
<li><strong>Social Security Fund:</strong><br />
<ul style="list-style-type: disc;">
<li>It will be created on the financial side in order to implement social security schemes.</li>
</ul>
</li>
<li><strong>Uniform Definitions:</strong><br />
<ul style="list-style-type: disc;">
<li>There is <strong>uniformity in determining wages</strong> for the purpose of social security benefits.<br />
<ul style="list-style-type: disc;">
<li>It has provided a<strong> wide definition for wage.</strong></li>
</ul>
</li>
<li>Specific exclusions with ceilings have been provided for<strong> discouraging inappropriate structuring of salaries</strong> to minimise social security benefits.</li>
</ul>
</li>
<li><strong>Consultative Approach:</strong><br />
<ul style="list-style-type: disc;">
<li>It has brought in a facilitating approach by the authorities. Unlike the existing role of inspectors, the <strong>Code provides for an enhanced role of inspector-cum-facilitator</strong> whereby <strong>employers can look for support and advice to enhance compliances.</strong></li>
</ul>
</li>
<li><strong>Career Centre:</strong><br />
<ul style="list-style-type: disc;">
<li>To enable that demand for human resources is met and to monitor employment information,<strong> career centres will be established. </strong></li>
</ul>
</li>
<li><strong>Stringent Penalties:</strong><br />
<ul style="list-style-type: disc;">
<li>Any failure to deposit employees&rsquo; contributions not only attracts a <strong>penalty of Rs. 1,00,000, but also imprisonment of one to three years.</strong> In case of <strong>repeat offence, the penalties and prosecution is severe,</strong> and no compounding is permitted for repeated offences.</li>
</ul>
</li>
</ul>
</li>
<li><strong>Concerns:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>Online Registration Process:</strong><br />
<ul style="list-style-type: disc;">
<li>The <strong>onus lies on informal workers registering as beneficiaries,</strong> further they <strong>do not have digital literacy and connectivity.</strong></li>
<li>Also, there is a <strong>lack of awareness</strong> among informal workers <strong>regarding social security schemes. </strong></li>
</ul>
</li>
<li><strong>Lack of Inter-State Arrangement and Cooperation:</strong><br />
<ul style="list-style-type: disc;">
<li>Unorganised workers are spread across the length and breadth of India. <strong>Implications</strong> of this code <strong>would be too varied across States</strong> to be administered.</li>
</ul>
</li>
<li><strong>Complicated Processes &amp; Overlapping Jurisdiction:</strong><br />
<ul style="list-style-type: disc;">
<li>Providing holistic social security cover for the unorganised workforce in a simple and effective manner is lost in the <strong>Centre-State procedural complications and jurisdictional or institutional overlap. </strong></li>
</ul>
</li>
<li><strong>Maternity Benefit:</strong> <br />
<ul style="list-style-type: disc;">
<li>Women engaged in the <strong>unorganised sector remain outside the purview of maternity benefit.</strong></li>
</ul>
</li>
<li><strong>Employees Provident Fund:</strong> <br />
<ul style="list-style-type: disc;">
<li>For informal sector workers, <strong>access to employees&rsquo; <a href="/daily-updates/daily-news-analysis/epfo-disbursed-claims" target="_blank" rel="noopener">provident fund</a> remains unfulfilled too in the new code.</strong></li>
</ul>
</li>
<li><strong>Payment of Gratuity:</strong> <br />
<ul style="list-style-type: disc;">
<li>Although payment of gratuity was expanded in the new Code, it <strong>still remains inaccessible for a vast majority of informal workers.</strong></li>
</ul>
</li>
</ul>
</li>
</ul>
<h3>Way Forward</h3>
<ul style="list-style-type: square;">
<li>The SS Code 2020 <strong>merges existing social security laws</strong> and attempts to include informal workers within the ambit of social security administration. However, an examination of the code reveals that <strong>universalisation of social security remains an unfulfilled aspiration.</strong></li>
<li>At a time when India chairs a <a href="/important-institutions/drishti-specials-important-institutions-international-institution/brics-1" target="_blank" rel="noopener"><strong>BRICS</strong></a> meeting that is<strong> focused on issues of labour, especially informality, it fails to even recognise that India is ageing without social security,</strong> and the demographic dividend of the young workforce that could support the ageing ends in 15 years.</li>
<li>The<strong> provision of social security could be used to formalise the workforce</strong> to a certain extent.</li>
<li><strong>Employers should be made to own up to the responsibility of providing social security</strong> to their workers. <br />
<ul style="list-style-type: circle;">
<li>As the state has a responsibility but the<strong> primary responsibility still lies with employers</strong> since they are taking advantage of workers&rsquo; productivity.</li>
</ul>
</li>
</ul>
<p><a href="https://www.thehindu.com/opinion/lead/a-collage-of-laws-that-leaves-the-worker-out-in-the-cold/article34600276.ece"><strong>Source:TH</strong></a></p>',
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		'article_id' => (int) 8409,
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		'title' => 'Infrastructure Status for Convention Centres',
		'description' => '<h3>Why in News</h3>
<p>The Finance Ministry has granted <strong>&lsquo;Infrastructure&rsquo; status</strong> for <strong>exhibition and convention centres.</strong></p>
<ul style="list-style-type: square;">
<li>In 2020, the government had added <a href="/daily-updates/daily-news-analysis/affordable-rental-housing-complexes-for-urban-migrants" target="_blank" rel="noopener"><strong>affordable rental housing projects</strong></a> to the list of sectors recognised as infrastructure.</li>
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<h3>Key Points</h3>
<ul style="list-style-type: square;">
<li><strong>Infrastructure Status to Exhibition-cum-Convention Centre:</strong><br />
<ul style="list-style-type: circle;">
<li>Exhibition-cum-Convention Centre has been <strong>included in the Harmonised Master List of Infrastructure sub-sectors</strong> by insertion of a new item<strong> in the category of Social and Commercial Infrastructure.</strong></li>
<li>However, the benefits available as &lsquo;infrastructure&rsquo; projects<strong> would only be available</strong> for projects with a minimum built-up floor area of 1,00,000 square metres of exclusive exhibition space or convention space or both combined.<br />
<ul style="list-style-type: disc;">
<li>This <strong>includes primary facilities</strong> such as exhibition centres, convention halls, auditoriums, plenary halls, business centres, meeting halls etc.</li>
</ul>
</li>
<li>This move will <strong>enable more such projects to come up across India&rsquo;s tourist destinations.</strong></li>
</ul>
</li>
<li><strong>Need for the Infrastructure Status:</strong><br />
<ul style="list-style-type: circle;">
<li><strong>India doesn&rsquo;t have large convention centres</strong> or single halls with capacities to hold 7,000 to 10,000 people,<strong> unlike countries like Thailand</strong> that is <strong>a major global MICE destination.</strong></li>
<li>Becoming a <strong>MICE (Meetings, Incentives, Conferences and Exhibitions) destination</strong> can<strong> generate significant revenue with several global companies active in India.</strong></li>
</ul>
</li>
<li><strong>Harmonised Master List of Infrastructure sub-sectors:</strong><br />
<ul style="list-style-type: circle;">
<li>The list is<strong> notified by the Ministry of Finance</strong> and included following <strong>categories:</strong> <br />
<ul style="list-style-type: disc;">
<li><strong>Transport and Logistics:</strong> Roads and bridges, Inland waterways, Airport, etc.</li>
<li><strong>Energy:</strong> Electricity Generation, Electricity Transmission, etc.</li>
<li><strong>Water and Sanitation:</strong> Solid Waste Management, Water treatment plants, etc.</li>
<li><strong>Communication:</strong> Telecommunication, etc.</li>
<li><strong>Social and Commercial Infrastructure:</strong> Education Institutions (capital stock), Sports Infrastructure, Hospitals (capital stock), Tourism infrastructure, etc.</li>
</ul>
</li>
<li><strong>Inclusion in the list</strong> implies access to <strong>concessional funds, promotion of projects and continuity of construction for the specified sub-sectors.</strong></li>
<li>However, the infrastructure tag<strong> now does not include vital tax breaks.</strong></li>
</ul>
</li>
</ul>
<p><a href="https://www.thehindu.com/business/finmin-grants-infrastructure-status-for-convention-centres/article34600605.ece" target="_blank" rel="noopener"><strong>Source: TH</strong></a></p>',
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