GS- 2 Paper
Topic covered- Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
Regional Connectivity Scheme (RCS-Udan)
Context
The Minister of State (I/C) for Civil Aviation chairs meeting via video conference on Regional Connectivity Scheme (RCS-Udan) with States/UTs.
About the Scheme
- Regional Connectivity Scheme (RCS-Udan) stands for Ude Desh ka Aam Nagrik.
- UDAN is a flagship scheme of the Union Government to enable air operations on unserved routes, connecting regional areas, to promote balanced regional growth and to make flying affordable for masses.
- The UDAN Scheme is a key component of the National Civil Aviation Policy (NCAP) which was launched in June 2016.
Objectives
- The primary objective of RCS- Udan is to facilitate regional air connectivity by making it cheap and affordable.
- To boost regional air connectivity and provide various incentives to airlines.
- It promotes affordability of regional air connectivity is envisioned under RCS by supporting airline operators through: Concessions and Financial (viability gap funding or VGF) support.
Significance
- The UDAN scheme seeks to provide connectivity to un-served and under-served airports of the country through revival of existing air-strips and airports.
- The scheme gives India’s aviation sector a boost by giving a chance to small and first-time operators to be a part of the rapid growth in passenger traffic.
- This first-of-its-kind scheme will ensure affordability, connectivity, growth and development.
- Under it regional connectivity will be developed on market-based mechanism under which Airlines will bid for seat subsidies.
GS- 3 Paper
Topic covered– Investment models.
Debenture Redemption Reserve
Context
Government removes Debenture Redemption Reserve requirement for Listed Companies, NBFCs and HFCs.
About the amendment in the Companies (Share Capital & Debentures) Rules
- The Ministry of Corporate Affairs has amended the Companies (Share Capital & Debentures) Rules by removing Debenture Redemption Reserve requirement for Listed Companies, NCFCs and HFCs.
Objective of Amendments
- Removing the requirement for creation of a DRR of 25% of the value of outstanding debentures in respect of listed companies.
- NBFCs registered with RBI and for Housing Finance Companies registered with National Housing Bank (NHB) both for public issue as well as private placements.
- Reduction in DRR for unlisted companies from the present level of 25% to 10% of the outstanding debentures.
- Hitherto, Listed Companies had to create a DRR for both Public Issue as well as Private Placement of Debentures, while NBFCs & HFCs had to create DRR only when they opted for Public Issue of Debentures.
- It is aimed at creating a level-playing field between NBFCs, HFCs and listed companies’ on the one hand and also between them and Banking Companies & All India Financial Institutions on the other, which are already exempted from DRR.
- The measure has been taken by the Government with a view to reducing the cost of the capital raised by companies through issue of debentures and is expected to significantly deepen the Bond Market.
- The rules, while retaining DRR requirement for Unlisted Companies, provide for reduction from a DRR of 25% to a DRR of 10% for such companies, so as to safeguard interests of investors.
What is a Debenture Redemption Reserve?
- A debenture redemption reserve (DRR) is a provision stating that any Indian corporation that issues debentures must create a debenture redemption service in an effort to protect investors from the possibility of a company defaulting.
- This provision was tacked onto the Indian Companies Act of 1956, in an amendment introduced in the year 2000.
Significance of the amendment
- The measure has been taken by the government with a view to reducing the cost of the capital raised by companies through issue of debentures and is expected to significantly deepen the bond market, the release added.
GS-3 Paper
Topic covered- Conservation, environmental pollution and degradation, environmental impact assessment.
Draft National Resource Efficiency Policy
Context
Comments called for on the Draft National Resource Efficiency Policy Released.
About
- The Draft National Resource Efficiency Policy was released by the Ministry for Environment, Forest and Climate Change for public comments.
- The Draft National Resource Efficiency Policy (NREP) envisions a future with environmentally sustainable and equitable economic growth, resource security, healthy environment (air, water and land), and restored ecosystems with rich ecology and biodiversity.
- The Draft National Resource Efficiency Policy is guided by the principles of-
- Reduction in primary resource consumption to ‘sustainable’ levels, in keeping with achieving the Sustainable Development Goals and staying within the planetary boundaries,
- Creation of higher value with less material through resource efficient and circular approaches,
- Waste minimization,
- Material security and creation of employment opportunities and business models beneficial to the cause of environment protection and restoration.
- The Policy notes that the material consumption in India has increased by six times from 1.2 billion tonnes in 1970 to 7 billion tonnes in 2015.
- It is expected to double by 2030, in view of rapid urbanisation, increasing population, and growing economic development.
- These are expected to lead to serious resource depletion and environmental degradation.
Key features of the policy
- The Policy seeks to enable efficient use of natural resources and promote upcycling of wastes across all sectors of the economy.
- The Policy aims toimplement resource efficiency for all resources and materials across all its life cycles including the stages of raw material extraction, processing, and production.
- Authorities and Boards proposed by the policy: The Policy provides for the establishment of a National Resource Efficiency Authority (NREA) to oversee, administer and review implementation of the Policy.
- Respective state governments and ministries will be responsible for developing and implementing resource efficiency strategies.
- An inter-ministerial National Resource Efficiency Boardwill be established to provide guidance on critical aspects of implementation.
Targets and Action Plans
- The Policy aims to achieve India’s commitments under the UN Sustainable Development Goals (SDGs) by 2030.
- The SDGs consist of 12 goals including doubling the rate of global rate of improvement in energy efficiency by 2030, and ensuring sustainable food production systems.
- The first Action Plan has been prepared for 2019-22.
For prelims-
IMAC and IFC-IOR
Context
Raksha Mantri visited the Information Management and Analysis Centre (IMAC) and Information Fusion Centre – Indian Ocean Region (IFC-IOR).
Highlights
- The Information Management and Analysis Centre (IMAC) located in Gurgaon.
- It is a joint initiative of Indian Navy, Coast Guard and Bharat Electronics Ltd to improve coastal surveillance and to provide coastal security to avert incidents like the 26/11 terror attack on Mumbai.
Key facts about IMAC
- IMAC will be the single point centre interlinking the newly formed coastal radar chain of India.
- It will be manned by the Navy and function under the National Security Adviser (NSA).
- It is the nodal centre of the National Command Control Communications and Intelligence Network (NC3I Network) and National Maritime Domain Awareness (NMDA)
Key facts about Information Fusion Centre – Indian Ocean Region
- The IFC-IOR stems from the importance of the Indian Ocean to world trade and security.
- The need for the various maritime nations and organisations to collaborate towards enhancing maritime safety and security on the seas of this region.
- It aims to utilize the collective wisdom and resources towards addressing myriad challenges in the region.
- IFC-IOR will help interface and integrate, wherein, all partners and stakeholders would benefit from each other’s best practices and expertise.
- The setting up of IFC-IOR underscores the governmental approach and effort in line with the vision of our Hon’ble Prime Minister, Shri Narendra Modi towards Security and Growth of All in the Region (SAGAR).