PIB

Daily PIB

Daily PIB/ 31 March

General Studies- III

Topic- India and its neighborhood- relations.

5th BIMSTEC Summit

Context:

With renewed political commitment from the 5th BIMSTEC Summit was organised in Colombo, SriLanka. 

  • The Summit’s theme: “Towards a Resilient Region, Prosperous Economies, Healthy People”.
  • The main outcome of the Summit was the adoption and signing of the BIMSTEC Charter.
  • It formalizes the grouping into an organization made up of members states that are littoral to, and dependent upon, the Bay of Bengal.

What is the “BIMSTEC”?

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization that was established on 06 June 1997 with the signing of the Bangkok Declaration.

  • Initially known as BIST-EC (Bangladesh-India-Sri Lanka-Thailand Economic Cooperation), the organisation is now known as BIMSTEC and comprises seven Member States.
  • Myanmar on 22 December 1997, and Bhutan and Nepal in February 2004 became the part of BIMSTEC.

Seven Member States:

  • Five from South Asia: Bangladesh, Bhutan, India, Nepal, Sri Lanka, and
  • Two from Southeast Asia: Myanmar and Thailand.

History:

On 06 June 1997, representatives of the Governments of Bangladesh, India, Sri Lanka, and Thailand came together in Bangkok, and signed the ‘Declaration on the Establishment of the Bangladesh–India–Sri Lanka–Thailand Economic Cooperation (BIST-EC)’

  • later this declaration came to be known as the ‘Bangkok Declaration’. 
  • The main aim of the regional group was the promotion of economic cooperation between countries bordering the Bay of Bengal.
  • With Myanmar joining on 22 December 1997, the group was renamed BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka, Thailand Economic Cooperation).
  • With the admission of Nepal and Bhutan during the 6th Ministerial Meeting in Thailand in July 2004, the grouping was renamed during the First Summit in Bangkok on 31 July 2004 as the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).

Objectives: 

  • To harness shared and accelerated growth through mutual cooperation in different areas of common interests.
  • To mitigate the onslaught of globalization and by utilizing regional resources and geographical advantages. 

Area of Cooperation:

Unlike many other regional groupings, BIMSTEC is a sector-driven cooperative organization

  • Starting with six sectors—including trade, technology, energy, transport, tourism and fisheries—for sectoral cooperation in the late 1997.
  • It expanded to embrace nine more sectors—including agriculture, public health, poverty alleviation, counter-terrorism, environment, culture, people to people contact and climate change—in 2008.

Significance of BIMSTEC:

  • The regional group constitutes a bridge between South and South East Asia and represents a reinforcement of relations among these countries. 
  • BIMSTEC has also established a platform for intra-regional cooperation between SAARC and ASEAN members. 

Economic Significance: 

  • The BIMSTEC region is home to around 1.5 billion people which constitute around 22% of the global population with a combined gross domestic product (GDP) of 2.7 trillion economy
  • In the last five years, BIMSTEC Member States have been able to sustain an average 6.5% economic growth trajectory despite global financial meltdown.

India and BIMSTEC:

As the region’s largest economy, India has a lot at stake. 

  • BIMSTEC connects ecologies of the South and Southeast Asia, Great Himalayas and the Bay of Bengal.
  • For India, BIMSTEC has the vast potential that is unlocked with stronger connectivity. 
  • The four coastal states adjacent to the Bay of Bengal (Andhra Pradesh, Orissa, Tamil Nadu, and West Bengal) and landlocked Northeastern states, will have the opportunity to connect via the Bay of Bengal to Bangladesh, Myanmar and Thailand, opening up possibilities in terms of development.

From the strategic perspective, the Bay of Bengal, a funnel to the Malacca straits, has emerged a key theatre for an increasingly assertive China in maintaining its access route to the Indian Ocean.

General Studies- III

Topic- Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Raising and Accelerating MSME Performance (RAMP)

Context:

Recently, The Union Cabinet approved a USD 808 million or Rs 6,062.45 crore, World Bank assisted programme on “Raising and Accelerating MSME Performance” (RAMP). 

RAMP is a new scheme and would commence in FY 2022-23.

What is RAMP?

  • “Raising and Accelerating MSME Performance” (RAMP) is a World Bank assisted Central Sector Scheme.
  • It has been launched to support various Corona Virus Disease 2019 (COVID) Resilience and Recovery Interventions of the Ministry of Micro, Small and Medium Enterprises (MoMSME).
  • In addition to building the MoMSME’s capacity at the national level, the RAMP program will seek to scale up implementation capacity and MSME coverage in States.

Objective:

The programme aims at improving access to market and credit, strengthening institutions and governance at the Centre and State, improving Centre-State linkages and partnerships, addressing issues of delayed payments and greening of MSMEs.

Key functions:

RAMP will function as a;

  1. ‘’Policy Provider’’ through the enhanced capacity for evidence-based policy and program design, to enable the delivery of more effective and cost-efficient MSME interventions to improve competitiveness and business sustainability.
  2. “Knowledge Provider” through bench-marking, sharing and demonstrating best practices/success stories by leveraging international experiences, and
  3. “Technology Provider” providing access to high-end technology resulting in the digital and technological transformation of MSMEs through state of art Artificial Intelligence, Data Analytics, Internet of things (IoT), Machine Learning etc.

 Background:

RAMP was formulated and proposed by the Government of India, for strengthening MSMEs in line with the recommendations made by U K Sinha Committee, KV Kamath Committee and Economic Advisory Council to the Prime Minister (PMEAC).

Need and Significance:

  • 40% of MSMEs in India lack access to finance. MSMEs are the backbone of Indian economy. They contribute 40% of exports of the country and 30% of its GDP.
  • RAMP programme with impacts across the country will directly or indirectly benefit all 63 million enterprises that qualify as MSMEs

However, a total of 5,55,000 MSMEs are specifically targeted for enhanced performance and, in addition, expansion of target market to include service sectors and increase of about 70,500 women MSMEs is envisaged

General Studies- II

Topic- Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

PM-YUVA Scheme

Context:

The Government has decided that the books selected under the PM-YUVA Scheme are translated into different Indian languages to ensure the exchange of Indian culture and literature in order to promote `Ek Bharat Shrestha Bharat’.

What is PM Yuva Yojana?

Pradhan Mantri – Mentorships’s Scheme for Young writers (PM-YUVA) has been launched by the Ministry of Education on 29 May 2021 for young writers up to the age of 30 years.

  • Aim of this scheme is to create young aspiring writers into skilled writers representing the rich heritage of India. 
  • Through the scheme, new writers will be allowed to participate and become future writers through a mentorship program.

Objectives:

Key objectives of the scheme are:

 

  1. Engage youth of the country in rich Indian history and culture.
  2. Creating a pool of young authors in the country who will be the modern/ young ambassadors of our Indian Literature.
  3. Create young learners for future leadership roles to represent the country on an international level.
  4. To help young authors project their ideas on an international platform, therefore allowing them to promote Indian literature and culture globally.
  5. Building skilled writers from new aspiring authors in various genres by providing expert mentoring.

Implementation:

The scheme would be implemented by the National Book Trust under the Ministry of Education. The scheme would be implemented in a phase-wise structure

  • In Phase I– training, the selected candidates would be provided by the NBT for three months. 
  • In Phase II– The candidates selected would expand their understanding and also hone their skills through an interactive process at various events internationally organized, such as book fairs etc. 

The salient features of the scheme are:

  • A contest was organized to select seventy-five young authors
  • The theme of the contest was ‘National Movement of India’ with ‘Unsung Heroes’, “Role of Unknown Places in Freedom Movement’ etc as focus areas.
  • The contestants were asked to submit a manuscript of 5000 words to judge their suitability to develop as a proper book under the mentorship scheme.
  • Proposals were invited in all twenty-two scheduled languages and English.
  • The selection was made by a committee constituted by National Book Trust (NBT).
  • Mentors have been assigned to guide and develop the selected proposals into full-fledged books.
  • A consolidated scholarship of Rs. 50,000 per month for a period of six months per author is to be paid under the mentorship scheme.
  • 10% royalty to be paid by NBT on publication and sale of the books.

General Studies- II

Topic- Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Emergency Credit Line Guarantee Scheme (ECLGS)

Context:

Giving effect to Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman’s announcement in Union Budget 2022-23, the National Credit Guarantee Trustee Company Limited (NCGTC) has been extended the Emergency Credit Line Guarantee Scheme (ECLGS) beyond March 2022, till March 2023.

Highlights:

  • The Government has extended Emergency Credit Line Guarantee Scheme (ECLGS) through ECLGS 4.0 for the 26 sectors identified by the Kamath Committee and the healthcare sector
  • ECLGS 4.0 The modified Scheme will provide an incentive to Member Lending Institutions (MLIs) to enable availability of additional funding facility to the eligible borrowers, both MSMEs/business enterprises and identified sectors that supports MSMEs.
  • It will go a long way in contributing to economic revival, protecting jobs, and create conducive environment for employment generation.

What is the ECLGS?

The Emergency Credit Line Guarantee Scheme (ECLGS) was unveiled as part of the Rs 20 lakh crore comprehensive package announced by Finance Ministry in May 2020.

The Emergency Credit Line Guarantee Scheme provides 100% guarantee coverage by National Credit Guarantee Trustee Company (NCGTC) to Member Lending Institutions on Guaranteed Emergency Credit Line (GECL) of up to Rs. 3 lakh crores to eligible MSMEs.

ECLGS-1.0:

ECLGS-1.0 refers to the scheme for providing 100% Guarantee coverage by NCGTC to its Member Lending Institutions against the extension of eligible credit to its existing borrowers whose total credit outstanding (fund based) across all lending institutions and days past due as of February 29, 2020, was upto Rs.50 crore and 60 days respectively.

ECLGS-2.0:

ECLGS-2.0 refers to the scheme for providing100% Guarantee coverage by NCGTC to its MLI against the extension of eligible credit to its existing borrowers in the 26 stressed sectors identified by the Kamath Committee on Resolution Framework and the Healthcare sector whose total credit outstanding (fund based) across all lending institutions and days past due as on February 29, 2020, was above Rs.50 crore and not exceeding Rs.500 crore and upto 60 days respectively.

ECLGS 3.0

ECLGS 3.0 refers to the scheme for providing 100% guarantee coverage by NCGTC to its Member Lending Institutions against the extension of eligible credit to its existing borrowers in the Hospitality, Travel & Tourism and Leisure & Sporting sectors whose total credit outstanding (fund based) across all lending institutions and days past due as on February 29, 2020, was upto Rs.500 crore and upto 60 days respectively.

ECLGS 4.0

ECLGS 4.0 refers to the scheme for providing 100 percent guarantee cover to loans up to Rs 2 crore to hospitals, nursing homes, clinics, medical colleges for setting up on-site oxygen generation plants with the interest rate capped at 7.5 percent.

Objectives Of ECLGS:

  • To provide an incentive to Member Lending Institutions (MLIs), i.e., Banks, Financial Institutions (FIs) and Non-Banking Financial Companies (NBFCs).
  • To increase access to, and enable availability of additional funding facility to MSME borrowers.
  • Providing 100 per cent guarantee for any losses suffered by them due to non-repayment of the GECL funding by borrowers.

Who are the Member Lending Institutions (MLIs) under the Scheme?

  • All Scheduled Commercial Banks (SCBs) are eligible as MLIs.
  • NBFCs which have been in operation for at least 2 years as on 29.2.2020, and Financial Institutions (FIs) will also be eligible as MLIs under the Scheme.

Significance of the Scheme:

  • Enabling MSMEs to meet their operational liabilities and restart their businesses. 
  • By supporting MSMEs to continue functioning during the current unprecedented situation, the Scheme is also expected to have a positive impact on the economy and support its revival.

Chrome facts for Prelims

Rajasthan Diwas

March 30 is celebrated across the state to mark the formation of the state of Rajasthan.

On this day in 1949, the four states, namely Jodhpur, Jaipur, Bikaner, and Jaisalmer, joined with the United State of Rajasthan, and the region came to be known as Greater Rajasthan.

  • It is located in the northwest part of the country and is the home of cultural diversity. 
  • The state’s features include Indus Valley Civilisation ruins, temples, forts, and fortresses in almost every city.
  • It is divided into nine regions, namely: Ajmer State, Hadoti, Dhundhar, Gorwar, Shekhawati, Mewar, Marwar, Vagad, and Mewat. 
  • They are equally rich in their heritage and artistic contribution.

PMGDISHA Scheme

Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA) was approved by Union Cabinet in February 2017 to usher in digital literacy in rural India.

  • The main objective of the PMGDISHA Scheme is to impart digital literacy training by covering 6 crore rural households (one person per household), so that they are able to operate computers/digital access devices (like tablets, smartphones, etc.), send and receive emails, browse internet, access Government Services, search for information, undertake cashless transactions, etc. and hence use IT to actively participate in the process of nation building.
  • The PMGDISHA Scheme covers candidates in the age group of 14-60 years. 
  • So far, around 5.66 crore candidates have been enrolled and 4.81 crore candidates have completed the training out of which 3.54 crore candidates have been certified under the scheme.

Latest Courses

Under The Guidance of Ravika Purohit

Under The Guidance of Mridul Purohit

Under The Guidance of Mridul Purohit

Under The Guidance of Mridul Purohit

For Daily Updates