Current Affairs (CONSOLIDATION) - 16-28th - Drishti IAS
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Current
Affairs
(CONSOLIDaTION)
16-28th
February 2019
Drishti, 641, First Floor, Dr. Mukherjee Nagar, Delhi-110009
Phone: 87501 87501, WhatsApp: 81303 92355
Email: engweb@groupdrishti.com
Contents Polity and Governance............................................................................ 1 zz Re-promulgation of Triple Talaq Ordinance.................................................................................................................1 zz Modify Eviction Order: Centre urges SC........................................................................................................................2 zz Rail Drishti Dashboard...................................................................................................................................................2 Economic Scenario................................................................................. 3 zz National Policy on Electronics 2019.............................................................................................................................3 zz LADIS – Least Available Depth Information System...................................................................................................4 zz Policy Bias Against Rainfed Agricultural Area.............................................................................................................4 zz National Rural Economic Transformation Project.......................................................................................................5 zz Khadi Gramodyog Vikas Yojana....................................................................................................................................5 zz Women’s Livelihood Bond.............................................................................................................................................6 zz Angel Tax........................................................................................................................................................................6 zz RBI to Merge Three Categories of NBFCs.....................................................................................................................6 zz Pradhan Mantri Kaushal Vikas Yojana (PMKVY).........................................................................................................7 zz Draft e-Commerce Policy..............................................................................................................................................8 zz Pradhan Mantri Kisan Samman Nidhi (PM-KISAN).....................................................................................................9 zz Aviation Conclave 2019.................................................................................................................................................9 zz SATAT Scheme............................................................................................................................................................10 International Relations..........................................................................12 zz India Revokes MFN Status to Pakistan......................................................................................................................12 zz India-Asean Expo and Summit....................................................................................................................................13 zz Argentina’s President Visit to India............................................................................................................................14 zz Saudi Arabia’s Crown Prince Visit to India.................................................................................................................15 zz 60 Years of 1959 Tibetan Uprising.............................................................................................................................16 zz UNSC Condemns Pulwama Attack.............................................................................................................................17 zz Prime Minister’s Visit to South Korea.........................................................................................................................18 zz Indus Water Treaty 1960.............................................................................................................................................19 zz International Mother Language Day...........................................................................................................................19 zz Chabahar Port..............................................................................................................................................................19 zz UK asked to return Chagos Islands to Mauritius.......................................................................................................20 zz India bombs Jaish-e-Muhammad Camp in Pakistan................................................................................................21 zz Geneva Convention for Prisoners of War....................................................................................................................23 zz National Emergency Declared in the United States...................................................................................................24 Science and Technology........................................................................25 zz Massive Mountains Discovered under Earth’s Crust.................................................................................................25 zz China’s Solar Power Station in Space........................................................................................................................26 zz DNS Server to be Launched.........................................................................................................................................27
zz Space Flight of First UAE Astronaut............................................................................................................................28 zz Gynandromorphs.........................................................................................................................................................28 zz Climate-Smart Varieties of Rice..................................................................................................................................29 zz National Science Day...................................................................................................................................................29 Environment and Ecology......................................................................30 zz Western Disturbance...................................................................................................................................................30 zz Grid-Connected Rooftop Solar Programme...............................................................................................................30 zz Great Barrier Reef.........................................................................................................................................................31 zz The First ‘Climate Change Extinction’.........................................................................................................................32 zz Punjab’s Blackbuck Under Threat...............................................................................................................................32 zz Super-Efficient Air Conditioning programme launched by EESL..............................................................................32 zz Bandipur National Park................................................................................................................................................33 zz Stratocumulus Clouds.................................................................................................................................................33 zz Looming Threat to Food Security...............................................................................................................................34 Art & Culture..........................................................................................35 zz Birth Anniversary of Guru Ravidas..............................................................................................................................35 zz Attukal Pongala............................................................................................................................................................35 zz 18th Century Copy of Gita Govinda.............................................................................................................................35 zz Tagore Cultural Harmony Award.................................................................................................................................36 zz National War Memorial................................................................................................................................................36 zz Angkor, Cambodia, a City of Towering Temples in the Forest...................................................................................37 zz Apatani Tribes in Arunachal Pradesh.........................................................................................................................37 Social Issues.........................................................................................38 zz Women Safety Initiatives.............................................................................................................................................38 zz New Initiative SWAYATT..............................................................................................................................................38 zz Operation Digital Board...............................................................................................................................................39 zz International Conference on the Vision Zero..............................................................................................................39 zz Forest Dwellers Face Eviction.....................................................................................................................................40 zz Global Digital Health Partnership Summit..................................................................................................................41 zz Global Leaders Adopt ‘Delhi Declaration’ on Digital Health......................................................................................41 zz SHREYAS Scheme........................................................................................................................................................41 zz Indian Sign Language Dictionary................................................................................................................................42 Security.................................................................................................44 zz Regional Maritime-Safety Conference.......................................................................................................................44 zz Exercise Sampriti 2019................................................................................................................................................44 zz Quick Reaction Surface-to-Air Missile.......................................................................................................................44 Miscellaneous.......................................................................................45 zz Academy Award-2019.................................................................................................................................................45 zz Khelo India App............................................................................................................................................................45 zz VIVID 2019....................................................................................................................................................................46
w w w. d r i s h ti IA S.c om CURRENT AFFAIRS FEBRUARY 2019 1
Polity and Governance
Highlights
zz Re-promulgation of Triple Talaq Ordinance (1) zz Rail Drishti Dashboard (2)
zz Modify Eviction Order: Centre urges SC (2)
The 38th Constitutional Amendment Act of 1975
Re-promulgation of made the President’s satisfaction final and
Triple Talaq Ordinance conclusive and beyond judicial review. But, this
provision was deleted by the 44th Constitutional
¾¾ Recently the Union cabinet approved the promulgation
Amendment Act of 1978.Thus, the President’s
of Muslim Women (Protection of Rights on Marriage)
satisfaction is justiciable on the ground of malafide.
Ordinance, 2019, for the third time. Making Triple
Talaq a cognisable offence. ¾¾ In the D C Wadhwa case (1987) the court ruled
that successive re promulgation of ordinances
¾¾ This ordinance makes Instant Triple Talaq or Talaq-e-
with the same text without any attempt to get
biddat a cognizable offense.
the bills passed by the assembly would amount to
¾¾ In August 2017, the Supreme Court ruled that Instant
violation of the Constitution and the ordinance so
Triple talaq or talaq-e-biddat is unconstitutional and
re-promulgated is liable to be struck down.
illegal in Shayara Bano vs. Union of India and Ors.
It held that the exceptional power of law-making
¾¾ To enforce the Supreme Court ruling, the government
through ordinance cannot be used as a substitute
brought The Muslim Women (Protection of Rights on
for the legislative power of the state legislature.
Marriage) Bill, 2017.
¾¾ In Krishna Kumar Singh vs. State of Bihar (2017), the
¾¾ The bill was passed by Lok Sabha, but the bill remains
Supreme Court stated that ordinances are subject
pending in Rajya Sabha.
to judicial review, and do not automatically create
Ordinance Making Power of President enduring effects.
¾¾ Under the Constitution, the power to make laws
¾¾ The ordinance gives effect to amended version of The
rests with the legislature. However, Article 123 of the
Muslim Women (Protection of Rights on Marriage) Bill,
constitution empowers the President to promulgate 2017 as presented in Rajya Sabha by the government.
ordinance on urgent matter when Parliament is
not in session, and ‘immediate action’ is needed. Ordinance Provisions
¾¾ After the ordinance is notified it is to be laid before ¾¾ Any pronouncement of Talaq by a Muslim husband
Parliament within 6 weeks of its first sitting. upon his wife in any manner, written, spoken or
¾¾ The maximum life of a ordinance can be 6 months electronic, will be illegal.
and 6 weeks. ¾¾ Any husband who pronounces triple talaq can be
¾¾ When both the houses are in session, an ordinance punished by a jail term up to three years and will
promulgated at that time is void. also be liable for fine.
¾¾ In addition, the President may chose to withdraw ¾¾ Muslim women will now be entitled to custody of
the ordinance. her minor children.
¾¾ Muslim women are now entitled to receive maintenance
Ordinance: Supreme Court Verdict Timeline
for herself and her dependent children.
¾¾ In Cooper case, (1970), the Supreme Court held
¾¾ Triple talaq is now a cognizable offense if the case is
that the President’s satisfaction can be questioned
filed by married Muslim women or any person related
in a court on the ground of malafide.
to her by blood or marriage.
Note:
2 CURRENT AFFAIRS FEBRUARY 2019 www.d rish t i I A S . c o m
¾¾ The offense will be compoundable, i.e. there can be a
compromise but only on the insistence of the wife and
magistrate will determine the terms and conditions.
¾¾ The offender can be granted bail by a magistrate but
only after hearing the victim wife and if magistrate
is satisfied that there is reasonable ground for bail.
What is instant triple talaq?
¾¾ In the practice of talaq-e-biddat, when a man pronounces
talaq thrice in a sitting, or through phone, or writes in a
talaq-nama or a text message, the divorce is considered
immediate and irrevocable, even if the man later wishes
to re-conciliate. However, Women cannot pronounce
triple talaq and are required to move a court for getting
the divorce under the Sharia Act, 1937.
¾¾ There are three forms of talaq (divorce) in Islam:
Ahsan, Hasan, and Talaq-e-Biddat (triple or instant
talaq). Ahsan and Hasan are revocable but talaq-e-
Biddat is irrevocable.
¾¾ Triple talaq is a practice, mainly prevalent among
India’s Muslim community following the Hanafi
Islamic school of law.
¾¾ Triple talaq divorce is banned by many Islamic
countries, including Pakistan, Bangladesh, Turkey,
UAE, and Indonesia.
Rail Drishti Dashboard
Modify Eviction
¾¾ The government has launched Rail Drishti dashboard,
Order: Centre urges SC encompassing all the digitisation efforts in Indian Railways
¾¾ The Centre has urged the Supreme Court to modify and promoting transparency and accountability.
its recent order directing the eviction of thousands ¾¾ The dashboard brings information from various sources
of Scheduled Tribes (STs) and other traditional forest on a single platform and gives access to key statistics
dwellers whose claims for forest land rights have and parameters to every citizen of the country. Related
been rejected under the Forest Rights Act of 2006. to freight and passenger trains.
¾¾ The Centre said that the claims of lakhs of forest-
dwelling STs and other traditional forest dwellers were Indian Railway Catering and
rejected by the States without observing due process Tourism Corporation (IRCTC)
of law. Following were the arguments of Centre: ¾¾ IRCTC is a Public Sector Enterprise under Ministry
The forest land claims of these tribes and forest of Railways.
dwellers, who live in the forest, are mostly rejected ¾¾ It was incorporated on 27th September, 1999 as an
by the States. extended arm of the Indian Railways to upgrade, pro-
zzBeing poor and illiterate people who live in fessionalize and manage the catering and hospitality
remote areas, they do not know the appropriate services at stations, on trains and other locations
procedure for filing claims. ¾¾ To promote domestic and international tourism
The gram sabhas, which initiate the verification
through development of budget hotels, special
of their claims, are low on awareness about how tour packages, information & commercial publicity
to deal with these claims.
and global reservation systems.
The rejection orders are not even communicated
to the forest-dwelling STs and communities. nnn
Note:
w w w. d r i s h ti IA S.c om CURRENT AFFAIRS FEBRUARY 2019 3
Economic Scenario
Highlights
zz National Policy on Electronics 2019 (3) zz RBI to Merge Three Categories of NBFCs (6)
zz LADIS – Least Available Depth Information System (4) zz Pradhan Mantri Kaushal Vikas Yojana (PMKVY) (7)
zz Policy Bias Against Rainfed Agricultural Area (4) zz Draft e-Commerce Policy (8)
zz National Rural Economic Transformation Project (5) zz Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) (9)
zz Khadi Gramodyog Vikas Yojana (5) zz Aviation Conclave 2019 (9)
zz Women’s Livelihood Bond (6) zz SATAT Scheme (10)
zz Angel Tax (6)
Things (IoT)/ Sensors, Artificial Intelligence (Al),
National Policy Machine Learning, Virtual Reality (VR), Drones,
on Electronics 2019 Robotics, Additive Manufacturing, Photonics, Nano-
based devices, etc.
The Union Cabinet gave its approval to the National ¾¾ Providing incentives and support for significantly
Policy on Electronics 2019 (NPE 2019), proposed by the enhancing availability of skilled manpower, including
Ministry of Electronics and Information Technology re-skilling.
(MeitY). ¾¾ Creation of Sovereign Patent Fund (SPF) to promote
¾¾ The Policy envisions positioning India as a global hub the development and acquisition of Intellectual
for Electronics System Design and Manufacturing - Properties(IPs) in ESDM sector.
(ESDM) by
¾¾ Promotion of trusted electronics value chain initiatives
encouraging and driving capabilities in the country
to improve national cyber security profile.
for developing core components, including
chipsets, and NOTE:
creating an enabling environment for the industry Sovereign Patent Fund (SPF) is a state-led invest-
to compete globally. ment vehicle intended to strategically acquire important
¾¾ The National Policy of Electronics 2019 (NPE 2019) IP assets, thereby promoting national economic
replaces the National Policy of Electronics 2012 objectives.
(NPE 2012).
Implementation Strategy and Targets
Salient Features of NPE 2019 ¾¾ The Policy will lead to the formulation of several
¾¾ Creation of ecosystem for globally competitive schemes, initiatives, projects and measures for the
ESDM sector. development of ESDM sector in the country as per
¾¾ Providing incentives and support for manufacturing the roadmap envisaged therein.
of core electronic components. ¾¾ The target of the policy is to promote domestic
¾¾ Providing special package of incentives for mega manufacturing and export in the entire value-chain
projects. of ESDM for economic development.
¾¾ Formulation of suitable schemes and incentive
mechanisms to encourage new units and expansion Major Impact
of existing units. ¾¾ It will enable flow of investment and technology,
¾¾ Promotion of Industry-led R&D and innovation in leading to higher value addition in the domestically
emerging technology areas such as 5G, Internet of manufactured electronic products, increased
Note:
4 CURRENT AFFAIRS FEBRUARY 2019 www.d rish t i I A S . c o m
electronics hardware manufacturing in the country
and their export, while generating substantial Policy Bias Against
employment opportunities.
Rainfed Agricultural Area
Recently a new rainfed agriculture atlas was released
LADIS – Least Available highlighting the policy biases that are making farming
Depth Information System unviable for many in these areas.
¾¾ There has been negligence toward rainfed areas which
To ensure optimum use of National Waterways (NWs),
the Inland Waterways Authority of India (IWAI) has is leading to lower incomes for farmers in these areas.
launched a new portal LADIS – Least Available Depth ¾¾ Further farmers in rainfed areas are receiving 40%
Information System. less of their income from agriculture in comparison
¾¾ LADIS will ensure that real-time data on least available to those in irrigated areas.
depths is disseminated for ship/barge and cargo
owners so that they can undertake transportation
on NWs in a more planned way.
¾¾ IWAI has designed LADIS to facilitate the day-to-day
operations of inland vessels plying on NWs and to
avoid any hindrance in service and operation.
¾¾ It will enhance credibility and efficiency of information
sharing to achieve seamless operations on NWs,
besides pre-empting problems that may occur during
movement of vessels.
Inland Waterways Authority of India (IWAI)
¾¾ The IWAI is a statutory body under Ministry of
Shipping, established in 1986.
¾¾ It is headquartered in Noida, Uttar Pradesh and its
main function is to build necessary infrastructure in
inland waterways, surveying economic feasibility of
new projects and also carrying out administration
and regulation.
¾¾ As per the National Waterways Act, 2016, 111
waterways have been declared as NWs.
¾¾ In 2018, the IWAI also launched a portal known as
Forum of Cargo Owners and Logistics Operators
(FOCAL) for cargo owners and logistic operators
to access real time data on availability of vessels. Key Issues
¾¾ In 2018, IWAI signed a project agreement with ¾¾ Even though rainfed agriculture contributes to 60%
the World Bank for Jal Marg Vikas Project on river of the value of agriculture GDP of India, there is a
Ganga which aims for capacity augmentation of clear-cut bias towards irrigated areas when it comes
navigation on NW-1 (River Ganga) from Varanasi to public investment in agriculture in the country.
to Haldia. ¾¾ In terms of procurement over the decade between
¾¾ These initiatives are a part of objective to develop 2001-02 and 2011-12, the government procured `5.4
NWs as a key transport intervention and lower lakh crore of wheat and rice.
huge logistics costs,which currently account for ¾¾ On the other hand, coarse cereals, which are grown
15% of the GDP and is about twice that of the in rainfed areas, only had `3,200 crore worth of
U.S.’ logistics costs. procurement in the same period.
Note:
w w w. d r i s h ti IA S. c om CURRENT AFFAIRS FEBRUARY 2019 5
¾¾ Flagship government schemes, such as seed and Salient features
fertiliser subsidies and soil health cards, are designed
¾¾ DAY-NRLM lays special emphasis on targeting
for irrigated areas and simply extended to rainfed
the poorest of the poor and the most vulnerable
farmers without taking their needs into consideration.
communities and their financial inclusion.
Way Forward Innovative projects will be undertaken under
¾¾ More balanced approach is needed, to give rainfed NRETP to pilot alternate channels of financial
farmers the same research and technology focus, and inclusion, creating value chains around rural
production support that their counterparts in irrigation products, introduce innovative models in livelihoods
areas have received over the last few decades. promotion and access to finance and scale-up
¾¾ There is an urgent need to do more R&D in rainfed initiatives on digital finance and livelihoods
agriculture and bring in more policy perspective like interventions.
tweaking of government schemes by considering the ¾¾ DAY-NRLM provides for mutually beneficial working
needs of rainfed agricultural areas. relationship and formal platforms for consultations
¾¾ In the long run, cash incentives and income support between Panchayati Raj Institutions (PRIs) and
like the PM-KISAN scheme announced in the interim Community Based Organizations (CBOs).
budget 2019 are better than extensive procurement as NRLM has also developed activity map to facilitate
they are inclusive in character, and doesn’t distinguish convergence in different areas of interventions
between farmers in one area or another, growing one where NRLM institutions and PRIs could work
crop or another. together which has been disseminated to all state
¾¾ Along with income support to help farmers, it is now Rural Livelihood Missions.
the time to design better structured interventions
Benefits
for the future.
¾¾ Like the ease of doing business, ease of doing farming ¾¾ It will enhance the livelihoods promotion and access
should be done on the parameters of seeds, soil, to finance, and
water in rainfed areas to make agriculture attractive ¾¾ It will scale-up initiatives on digital finance and
in the long term. livelihood interventions.
National Rural Economic Khadi Gramodyog
Transformation Project Vikas Yojana
The Union Cabinet has approved the implementation The Cabinet Committee on Economic Affairs has
of an externally aided project namely National Rural approved the following:
Economic Transformation Project (NRETP) under the ¾¾ 8 different schemes of Khadi & Village Industries are
Deendayal Antyodaya Yojana - National Rural Livelihoods now merged under two heads i.e. ‘Khadi Vikas Yojana’
Mission (DAY-NRLM) through loan assistance from and ‘Gramodyog Vikas Yojana’:
World Bank.
Khadi Vikas Yojana includes Market Promotion
NOTE: & Development Assistance (MPDA), Interest
¾¾ Deendayal Antyodaya Yojana - National Rural Subsidy Eligibility Certificate (ISEC), Workshed,
Livelihoods Mission (DAY-NRLM) was launched Strengthening Weak Infra, Aam Aadmi Bima Yojana,
by the Ministry of Rural Development (MoRD), Khadi Grant.
Government of India in 2011. Gramodyog Vikas Yojana include Village Industries
¾¾ The Mission aims at creating efficient and effective Grant.
institutional platforms of the rural poor enabling them ¾¾ To bring in a new component of ‘Rozgar Yukt
to increase household income through sustainable Gaon’ to introduce enterprise-based operation
livelihood enhancements and improved access to in the Khadi sector and to create employment
financial services. opportunities.
Note:
6 CURRENT AFFAIRS FEBRUARY 2019 www.d rish t i I A S . c o m
MPDA
¾¾ The Market Promotion and Development Assistance
Angel Tax
Scheme (MPDA) was launched as a unified scheme The Ministry of Commerce and Industry has revised
by merging different schemes implemented by the the current definition of startups and has addressed the
Khadi sector including publicity, marketing, market raging issue of angel tax.
promotion, and marketing development assistance. ¾¾ Concerns had been flagged off by the industry earlier
¾¾ Grant/subsidy was also provided for construction of on taxation of angel investments and other issues
Khadi plazas. that need urgent attention for availability of capital
Interest Subsidy Eligibility Certificate (ISEC) to startups.
¾¾ Funds from angels are subjected to over 30% tax if it
¾¾ ISEC Scheme was launched in May 1977 to help Khadi
is more than the fair market value (FMV). Introduced
and Polyvastra producing institutions in mobilizing
in Section 56 of the I-T Act in Budget 2012, it explicitly
the capital funds from banking institutions.
states that companies - from mature private enterprises
¾¾ Under the Scheme, implementing agencies can avail to small startups – are liable to pay taxes on money
of bank loan as per the ISEC issued by the KVIC invested at capital. But with most startups taking
on payment of only 4% of interest and difference years just to break-even, treating part of the hard-
between the actual interest charged by the bank and won cash that came in from angels as taxable income,
4% is borne by KVIC as interest subsidy. even before a company begins to make money seems
Rozgar Yukt Gaon unwarranted.
¾¾ Rozgar Yukta Gaon (RYG) aims at introducing an Angel Tax
‘Enterprise-led Business Model’ in place of ‘Subsidy-led ¾¾ Angel tax is a term used to refer to the income tax
model’ through a partnership among 3 stakeholders- payable on capital raised by startup companies via
Khadi Reform and Development Programme (KRDP)- the issue of shares where the share price is seen
assisted Khadi Institution, Artisans and Business Partner. in excess of the fair market value of the shares
sold. The excess realization is treated as income
Women’s Livelihood Bond and taxed accordingly.
¾¾ The angel tax is levied on investments made by
The World Bank, UN Women (a United Nations entity external investors in startups or companies. The
dedicated to gender equality and empowerment of entire investment is not taxed – only the amount
women), and Small Industries Development Bank of that is considered above “fair value” valuations
India (SIDBI) have come together to launch a five-year of the startup.
tenor women’s livelihood bond (WLB). ¾¾ The tax was introduced in the 2012 Union Budget
¾¾ The proceeds from these social impact bonds will be to arrest laundering of funds by portraying them
used to help rural women in the country’s poorest as angel investment.
States to set up or scale up their own enterprises.
¾¾ WLB’s will be unsecured and unlisted.
RBI to Merge Three
Unsecured and Unlisted Bonds
Categories of NBFCs
¾¾ Unlisted Securities: Unlisted securities are shares,
bonds or any other securities that are not traded on The Reserve Bank of India (RBI) has decided to merge
a stock exchange but traded through the over-the- three categories of Non Banking Financial Companies
counter (OTC) market. (NBFCs) into a single category to provide greater
¾¾ Unsecured Bonds: Unsecured bonds, also called operational flexibility to non-banking lenders.
debentures, are not backed by any collateral, or ¾¾ NBFCs categorized as Asset Finance Companies (AFC),
mortgages on real estate. Instead, the issuer promises Loan Companies (LCs) and Investment Companies
that they will be repaid. This promise is frequently (ICs), will be merged into a new category called NBFC
called “full faith and credit.” - Investment and Credit Company (NBFC-ICC).
Note:
w w w. d r i s h ti IA S. c om CURRENT AFFAIRS FEBRUARY 2019 7
¾¾ Asset Finance Company (AFC) : An AFC is a company
which is a financial institution focussing on financing
Pradhan Mantri Kaushal
of physical assets supporting productive/economic Vikas Yojana (PMKVY)
activity, such as automobiles, tractors, generator
sets etc. Launched in 2015, it is a flagship program of Ministry
of Skill Development and Entrepreneurship (MSDE).
¾¾ Investment Company (IC) : IC means any company
National Skill Development Corporation (NSDC) imple-
which is a financial institution carrying on as its
ments it with the help of training partners.
principal business the acquisition of securities.
¾¾ It aims to mobilize youth to take up skill training with
¾¾ Loan Company (LC): LC means any company which
the aim of increasing productivity and aligning the
is a financial institution carrying on as its principal
training and certification to the needs of the country.
business the providing of finance whether by
making loans or advances or otherwise for any National Skill Development Corporation (NSDC)
activity other than its own but does not include ¾¾ The NSDC is a not-for-profit public limited company
an Asset Finance Company. incorporated on July 31, 2008 under section 25 of
the Companies Act, 1956 (corresponding to section
Non-Banking 8 of the Companies Act, 2013).
Financial Company (NBFC) ¾¾ It was set up by Ministry of Finance as Public Private
¾¾ A Non-Banking Financial Company (NBFC) is a company Partnership (PPP) model.
registered under the Companies Act, 1956 engaged The Government of India through Ministry of
in the business of loans and advances, acquisition of Skill Development & Entrepreneurship (MSDE)
shares/stocks/bonds/debentures/securities issued by holds 49% of the share capital of NSDC, while
Government or local authority or other marketable the private sector has the balance 51% of the
securities of a like nature. share capital.
¾¾ NBFC does not include any institution whose principal ¾¾ It aims to promote skill development by catalyzing
business is that of agriculture activity, industrial creation of large, quality and for-profit vocational
activity, purchase or sale of any goods (other than institutions.
securities) or providing any services and sale/purchase/ ¾¾ It acts as a catalyst in skill development by providing
construction of immovable property. funding to enterprises, companies and organizations
¾¾ A non-banking institution which is a company and that provide skill training.
has principal business of receiving deposits under
any scheme or arrangement in one lump sum or in Key Components
installments by way of contributions or in any other ¾¾ Short Term Training: Training as per National Skills
manner, is also a non-banking financial company Qualification Framework (NSQF) is provided to
(Residuary non-banking company). those who are either school/college dropouts or
unemployed.
Difference between Banks & NBFCs
¾¾ Recognition of Prior Learning (RPL): An individual
¾¾ NBFCs lend and make investments and hence their with a certain set of skills or with prior learning
activities are akin to that of banks; however there experience is assessed and certified under RPL with
are a few differences as given below: grade according to the NSQF.
NBFC cannot accept demand deposits; ¾¾ Special Projects: This component ensures training in
NBFCs do not form part of the payment and special areas and premises of government bodies and
settlement system and cannot issue cheques corporate. It aims to encourage training in vulnerable
drawn on itself; and marginalized groups of society.
Deposit insurance facility of Deposit Insurance ¾¾ Training Partners (TPs) are mandated to organize
and Credit Guarantee Corporation is not available Kaushal and Rozgar Melas every six months, thus
to depositors of NBFCs, unlike in case of banks. providing placement assistance to certified ones.
Note:8 CURRENT AFFAIRS FEBRUARY 2019 www.d rish t i I A S . c o m
Analysis ¾¾ A regulatory environment is necessary to ensure that
there is genuine competition in the market, which
¾¾ Out of 4.06 million candidates that got enrolled
between its relaunch and 24 January 2019, 3.73 encourages entrepreneurship and innovation.
million completed the course. ¾¾ To address a few challenges arising out of e-Commerce
¾¾ Certification Stats: Candidates who score at least
of law and order, revenue-base erosion, privacy, anti-
50% of total marks are provided with certification. competitive behavior, consumer protection, etc.,
Nearly, 30% of those who enrolled between the above without harming the of growth in the e-Commerce
mentioned period have not been certified yet. This sector.
shows that even skill training is not enough for such
Key Issues Addressed
people. This point towards the lack of proper basic
education at schools and colleges. ¾¾ Data
¾¾ Placement Status: Tracking of placements is mandatory Individual Right: An Individual owns the right to
under PMKVY. Till 26 October 2018, 1.94 lakh his data. Therefore, data of an individual is must
candidates got a certificate and out of them, only 55% be used with his/ her express consent.
got employed across different sectors. This shows Indian Control Over Data: There should be a
the low employability level under PMKVY. restriction on cross-border data flow. The policy
bats for data localization and states that the data
Way Forward generated within India must be stored within India.
¾¾ The government needs to ensure high-quality If a business entity that collects or processes any
secondary education at the secondary level to prepare sensitive data in India and stores it abroad, should
the youth for skills provided under the scheme. It not share data with business entities outside India,
should also promote vocational education in schools. for any purpose, even with customer consent.
¾¾ Accountability of Training partners. A request from Indian authorities to have access
¾¾ Industries participation need to be encouraged. to all such data stored abroad shall be complied
¾¾ Around one million youth enter the workforce with immediately.
every month; it is necessary to increase the number All e-Commerce websites, apps available for
of people that go under training under the scheme. download in India should have a registered business
entity here. Non-compliant e-Commerce app/
Draft e-Commerce Policy website to be denied access here.
¾¾ Infrastructure development
The Department For Promotion of Industry and It stressed on developing physical infrastructure for
Internal Trade (DPIIT) has released the draft National
a robust digital economy and suggested steps for
e-Commerce Policy for public comments.
developing the capacity for data storage in India.
¾¾ The National e-Commerce Policy lays down strategies
Incentives will be provided to companies for
to address issues pertinent to the sector-Consumer
establishing data localization location facilities
protection, data privacy, and maintenance of a level
like data centers, server farms within India.
playing field.
Firms to get 3 years to comply with local data
Need for policy storage requirements and data storage facilities
¾¾ In 2014, the average monthly data consumption in
should be given ‘infrastructure status’.
India was only 0.26 GB per person, which increased Domestic alternatives to foreign-based clouds
to over 4GB at the end of 2017. and email facilities should be promoted through
¾¾ Greater internet usage means the generation of budgetary support.
more data and therefore, the greater requirement ¾¾ e-Commerce marketplaces
to prioritize privacy, consumer protection and The policy mentions that foreign direct investment
regulate the flow of data for leveraging it to benefit (FDI) is allowed only in the marketplace model,
the domestic economy. not in inventory based model.
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This is in line with the e-Commerce guidelines
given by the government in December.
The policy also takes into account the interests of
domestic manufacturers and Micro, Small and
medium enterprises and seeks to create a level
playing field for them in online retail.
To curbs on Chinese e-commerce exports the
Gifting route (where goods are shipped as gifts),
often used by Chinese apps, websites should be
banned for all parcels except life-saving drugs.
To prevent fake products, Seller details should be
made available on the website for all products and
sellers must provide an undertaking to the platform
about the genuineness of products.
¾¾ Stimulating the domestic digital economy
There is a need to formulate domestic industrial
standards for smart devices and IoT devices to meet
the goals of the country like consumer protection.
Online custom clearance will eliminate the need ¾¾ This programme is under the aegis of Ministry of
for manual processes and will help in ease of Agriculture and Farmers Welfare and aims to address
doing business. farm sector distress, caused by lower sales realization
Continued focus on Digital India initiatives by the on bumper production of food-grains, oilseeds,
Government will help in the development of the sugarcane, cotton and horticulture crops.
e-Commerce sector. ¾¾ State Government and UT Administration will identify
¾¾ Export promotion the farmer families which are eligible for support as
e-Commerce startups may get ‘infant industry’ per scheme guidelines.
status raising the limit for courier shipments from ¾¾ This programme will entail an annual expenditure
`25,000 to boost e-Commerce export. of Rs.75,000 crore which will be funded by the
To promote export it is necessary to lower the Government of India. Around 12 crore small and
cost of transport, reducing paperwork, reducing marginal farmer families are expected to benefit
delays at ports and airports etc. from this.
Integrating Customs, RBI and India Post to improve
tracking of imports through e-Commerce.
Aviation Conclave 2019
Pradhan Mantri Kisan The Ministry of Civil Aviation, in association with
Airports Authority of India (AAI), Airport Authority of
Samman Nidhi (PM-KISAN) India - Cargo Logistics & Allied Services Company Limited
(AAICLAS) and Confederation of Indian Industry, is
The Prime-minister launched PM-KISAN scheme from
organizing the Aviation Conclave 2019.
Gorakhpur in Uttar Pradesh on Feb. 24, 2019.
¾¾ The theme of the conclave is “Flying for All”.
¾¾ Under PM-KISAN, vulnerable landholding farmer
families, having cultivable land up-to 2 hectares, ¾¾ Aviation Conclave brings into focus new aviation
will be provided direct income support at the rate business to India, in particular,
of `6,000 per year. drones systems,
¾¾ This income support will be transferred directly into manufacturing of aircraft in India,
the bank accounts of beneficiary farmers, in three financing and leasing of aircraft from India by
equal installments of `2,000 each. Indian and foreign airlines,
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transforming Indian airports into next-gen aviation Government’s Policy
hubs,
¾¾ Regional connectivity scheme of UDAN (Ude Desh
and unleashing the air cargo potential by integrating ka Aam Nagrik) initiated by the government in 2016
every village of India in global value chains. aims to make flying affordable by connecting unserved
airports across the country.
The 5 Key Areas of Deliberation
¾¾ NABH (Nextgen Airports For Bharat) Nirman,
¾¾ Drone-Ecosystem Policy Roadmap, announced in the 2018-19 budget, aims to expand
¾¾ Roadmap for Manufacturing Aircraft and associated airport capacity by more than five times to handle a
equipment, including Regional Transport Aircraft, billion trips in a year.
in India, ¾¾ National Civil Aviation Policy (NCAP) was framed
¾¾ The Project Rupee Raftaar- which aims at Aircraft to boost regional air connectivity, establish an
Financing and Leasing from India, integrated ecosystem to promote tourism and generate
¾¾ National Air Cargo Policy: it seeks to make India employment.
among the top five air freight markets by 2025,
besides creating air transport shipment hubs at all SATAT Scheme
major airports over the next six years.
The policy will encourage code sharing/interline Recently the Minister of Petroleum and Natural
agreements between foreign and Indian carriers. Gas has handed over the 100th Letter of Intent (LOI:
is a document outlining the understanding between
¾¾ Mission to transform Indian Airports into Next-Gen
two or more parties) to the Compressed Bio-Gas
Aviation Hubs
(CBG) Entrepreneur (producer) under the Sustainable
India’s Aviation Industry Alternative Towards Affordable Transportation (SATAT)
scheme.
¾¾ Indian civil aviation industry is undergoing an
¾¾ SATAT has following four objectives:
expansion, driven by factors such as low-cost carriers
Utilising more than 62 million metric tonnes of
(LCCs), modern airports, Foreign Direct Investment
(FDI) in domestic airlines, advanced information waste generated every year in India,
technology (IT) interventions and a strong focus on Cutting down import dependence,
regional connectivity. Supplementing job creation in the country, and
¾¾ Growth in aviation is also increasing demand for Reducing vehicular emissions and pollution from
MRO (maintenance, repair, and overhaul) facilities. burning of agricultural / organic waste.
¾¾ Greater focus is given on infrastructure development –
Compressed Biogas
increasing liberalization - Open Sky Policy; AAI driving
¾¾ Bio-gas is produced naturally through a process
modernization of airports and Air & Navigation Systems.
of anaerobic decomposition from waste/bio-
¾¾ Enhanced Skill Development in the sector can leverage mass sources like agriculture residue, cattle dung,
India’s human capital potential and can create job sugarcane press mud, municipal solid waste,
opportunities. sewage treatment plant waste, etc. After purification,
¾¾ Innovation and Technology – GPS Aided it is compressed and called Compressed Biogas
Geo Augmented Navigation (GAGAN): India’s first (CBG), which has pure methane content of over
satellite-based navigation system has been launched 90%.
along with NO Objection Certificate Application ¾¾ CBG is exactly similar to the commercially available
System (NOCAS) which streamlines online process natural gas in its composition and energy potential.
of timely NOC for height clearances of buildings ¾¾ CBG can be used as an alternative and renewable
around airports and E-Governance for Civil Aviation automotive fuel. Given the abundance of biomass
in the country, CBG has the potential to replace
(eGCA) which regulates online delivery of licensing
CNG in automotive, industrial and commercial
and regulatory processes of Directorate General of
uses in the coming years.
Civil Aviation.
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¾¾ Advantages of converting agricultural residue, Boost to entrepreneurship, rural economy and
cattle dung and municipal solid waste into CBG on a employment.
commercial scale: Support to national commitments in achieving
Responsible waste management, reduction in climate change goals.
carbon emissions and pollution. Reduction in import of natural gas and crude oil.
Additional revenue source for farmers. Buffer against crude oil/gas price fluctuations.
nnn
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International Relations
Highlights
zz India Revokes MFN Status to Pakistan (12) zz Indus Water Treaty 1960 (19)
zz India-Asean Expo and Summit (13) zz International Mother Language Day (19)
zz Argentina’s President Visit to India (14) zz Chabahar Port (19)
zz Saudi Arabia’s Crown Prince Visit to India (15) zz UK asked to return Chagos Islands to Mauritius (20)
zz 60 Years of 1959 Tibetan Uprising (16) zz India bombs Jaish-e-Muhammad Camp in Pakistan (21)
zz UNSC Condemns Pulwama Attack (17) zz Geneva Convention for Prisoners of War (23)
zz Prime Minister’s Visit to South Korea (18) zz National Emergency Declared in the United States (23)
¾¾ It makes sure that any country receiving MFN status
India Revokes avoids any disadvantageous situation in comparison
MFN Status to Pakistan to the granter’s other trade partners.
¾¾ According to the World Trade Organisation rules,
In a major diplomatic move, India withdrew the Most
countries cannot normally discriminate between
Favoured Nation (MFN) status accorded to Pakistan in
their trading partners.
its bid to convey a strong message to the country in the
¾¾ If one country is granted a trade concession such
aftermath of Pulwama terror strike.
as, for example, lower import duties, then all WTO
What does Most Favoured Nation mean? members must be extended the same concessions.
This principle is known as the Most Favoured
¾¾ Article 1 of General Agreement on Tariffs and Trade
(GATT), 1994, requires every World Trade Organization Nation treatment.
(WTO) member country to accord MFN status (or Despite repeated promises, Pakistan has never
preferential trade terms with respect to tariffs and granted MFN status to India.
trade barriers) to all other member countries. ¾¾ Therefore, MFN is a non-discriminatory trade policy
¾¾ Accordingly, India accorded MFN status to all WTO as it ensures equal trading among all WTO member
member countries, including Pakistan, from the nations rather than exclusive trading privileges.
date of entry into force of the so called Marrakesh ¾¾ Since India and Pakistan are part of the WTO, both
Agreement, establishing the WTO. are required to grant MFN status to each other and
other partner countries.
NOTE:
¾¾ Established in 1995, WTO, replaced General What does revoking MFN mean?
Agreement on Trade and Tariffs (GATT) that has been
Revoking it means India can levy whatever import
in existence since 1948 to promote international
tariffs it wants. India can now make it very expensive
trade after World War II.
for Pakistan to export its goods or services to India.
¾¾ The bulk of the WTO’s current work comes from
1986–94 negotiations called the Uruguay Round and What happens now?
earlier negotiations under the General Agreement
The commerce ministry will now write to WTO in
on Trade and Tariffs (GATT).
order to revoke MFN status given to Pakistan by invoking
¾¾ Although it sounds as if MFN offers preferential
Article 21 of WTO, also known as the Security Exceptions
treatment, it only ensures non-discriminatory trade.
Article.
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Impact Analysis ¾¾ The motto of ASEAN is “One Vision, One Identity,
¾¾ So far, India has only revoked the MFN status. It has One Community”.
not altered the import duties on Pakistan. However, if ¾¾ 8th August is observed as ASEAN Day.
it does hike them, then this will likely have an impact
¾¾ ASEAN Secretariat – Jakarta, Indonesia.
on Pakistan.
¾¾ The scale of that impact is questionable because India and ASEAN
as per Commerce Ministry data, India’s total trade
¾¾ India-ASEAN trade and investment relations have
with Pakistan is only $2.4 billion in 2017-18, with just
$488.56 million of this being imports from Pakistan been growing steadily, with ASEAN being the second
which is meagre. Therefore, revoking Pakistan’s MFN largest trading partner of India,after China,with a total
status seems to be more of a symbolic move. bilateral merchandise trade of USD 81.33 billion, i.e.
¾¾ It may further give a push to the illegal trade between
10.58% in India’s overall trade.
the two countries, which takes place through border ¾¾ India and ASEAN represent fast moving economies.
gaps and via third countries. According to the recently published United Nations’
¾¾ It could also give a handle to extremist elements in World Economic Situation and Prospects Report
Pakistan to scale up the rhetoric against India. 2019, India and ASEAN are set to outpace the
¾¾ However, the decision by India to withdraw MFN global growth (3.0% in 2019).
status to Pakistan is intended to isolate Pakistan ¾¾ India continues to be the fastest growing major
diplomatically and squeeze the country’s industry. economy and is expected to grow at 7.2% in 2019
¾¾ This move will adversely affect the image of Pakistan and ASEAN at 5.2%.
as a trade partner and investment hub. ¾¾ This is a manifestation of the new emerging world
economic order, wherein India and ASEAN have a
India-ASEAN Expo and Summit significant place.
¾¾ India currently is working with ASEAN on multiple
Recently the Minister of Commerce & Industry
connectivity projects, through land, water, and air. E.g.:
inaugurated the 4th India-ASEAN Expo and Summit 2019
India-Myanmar-Thailand Highway, Kaladan
in New Delhi.
Multinational Transit Transport Project,
¾¾ It is organised by the Department of Commerce
in collaboration with industry body, ‘Federation of Project Development Fund for CLMV countries
Indian Chambers of Commerce & Industry (FICCI)’. (Cambodia, Laos, Myanmar and Vietnam).
¾¾ The Summit is a platform for the policy makers, industry ¾¾ ASEAN remains central to the economic integration of
captains and business leaders to come together and the Indo-Pacific region through Regional Comprehensive
forge a common vision for India and ASEAN’s mutual Economic Partnership (RCEP).
growth and progress.
¾¾ The Summit is a testimony of India’s dedicated efforts
Regional Comprehensive
towards Act East policy. Economic Partnership (RCEP)
¾¾ The RCEP is a mega-regional free trade agreement
Association of Southeast Asian Nations (ASEAN) (FTA) which aims to cover goods, services,
¾¾ ASEAN was established on 8 August 1967 in investments, economic and technical cooperation,
Bangkok, Thailand, with the signing of the Bangkok competition and intellectual property rights.
Declaration by the Founding Fathers of ASEAN, ¾¾ It is being negotiated amongst 16 countries,
namely Indonesia, Malaysia, Philippines, Singapore comprising 10 ASEAN countries plus six ASEAN
and Thailand. FTA partners – India, China, Japan, South Korea,
¾¾ Brunei Darussalam then joined in 1984, Vietnam Australia, and New Zealand.
in 1995, Lao People’s Democratic Republic and
Myanmar in 1997, and Cambodia on 30 April 1999, Way Forward
making up what is today the ten Member States
¾¾ Both sides need to explore opportunities through
of ASEAN.
connectivity projects in order to remove physical
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