Edutap April__2018.pdf

Economics, Social Issues and Finance related Current Affairs for the month of April 2018 for RBI Grade B 2018 Phase 1+ Phase 2

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Contents 1

E-way Bill comes into effect on Inter-state movement of goods over Rs 50,000: ........................... 5

2

Delhi becomes first city to roll-out BS-VI fuel: ........................................................................................ 6

3

Atal Pension Yojana subscriber base touches over 97 lakh: PFRDA ................................................. 7

4

Adopt a Heritage Project: Monument Mitras to adopt heritage sites and monuments: .............. 7

5

India ranks 37th in global startup ecosystem in 2017: Startupblink Report: ..................................... 8

6

120 castes/communities notified in Central OBC list in last 3 years: Government: ........................ 9

7

SEBI eases algorithm trade rules in commodity exchange: ............................................................. 10

8

Government launches Digital Initiative for ease of exports: ............................................................ 11

9

NIRF Rankings 2018: IISc Overall Best, AIIMS Best Medical College:................................................ 12

10

Cabinet approves Protection of Human Rights (Amendments) Bill, 2018: ................................. 15

11

RBI defers adoption of Ind-AS by 1 year for banks: ....................................................................... 16

12

RBI constitutes inter-departmental group to study launching of fiat digital currency: ............ 17

13

CBDT forms Working Group to assess tax risks of High Net Worth Individuals migrating abroad: 17

14

RBI’s first bimonthly policy FY 2018-19: Policy rates unchanged: ................................................. 18

15

7 April: World Health Day:.................................................................................................................. 19

16

Ban Ki-moon elected as Chairman of Boao Forum: ..................................................................... 19

17

FSSAI launches Project Dhoop to address vitamin D deficiency amongst youngsters: ........... 20

18

April 11: National Safe Motherhood Day: ....................................................................................... 21

19

Government sets up committee to review the enforcement of CSR provisions: ...................... 22

20

NITI Forum for Northeast outlines 5 development missions: .......................................................... 22

21

Index of Economic Freedom 2018: India ranks 130th: .................................................................... 23

22

India’s economy to grow 7.3% in 2018-19 and 7.6% in 2019-20: ADB Outlook: ......................... 24

23

RBI tightens reporting norms for Liberalized Remittance Scheme: .............................................. 25

24

Government extends Phase-1 of FAME-India scheme by 6 months: .......................................... 26

25

RBI switches back to GDP model from GVA model to measure economy:.............................. 26

26

Special 301 Report: USTR again places India Priority Watch List .................................................. 27

27

PM Narendra Modi launched Van Dhan Scheme ........................................................................ 27

28

Asia Pacific Regional Workshop of UNCCD held in New Delhi .................................................... 28

29

NSE’s India Index Services & Products Ltd (IISL) launches Nifty equity savings index ............... 29

30

NITI Aayog launches Atal New India Challenge under Atal Innovation Mission....................... 31

31

ITC ties up with NITI Aayog to train 2 lakh farmers to increase their income ............................. 32

32

India ranks 138th in World Press Freedom Index 2018 ................................................................... 33

33

CCEA approves restructured National Bamboo Mission .............................................................. 34

34 India-Sao Tome and Principe: Cabinet approves MoU for Cooperation in field of Traditional Medicines ....................................................................................................................................................... 35 www.edutap.co.in

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35

Cabinet approves declaration of Scheduled Areas in Rajasthan under Fifth Schedule ........ 35

36

National Biopharma Mission: Government inks Legal Agreements with World Bank ............... 36

37

CCEA approves Minimum Support Prices for Raw Jute for 2018-19 season .............................. 37

38 Government signs loan agreement with World Bank for Innovate in India for Inclusiveness Project ............................................................................................................................................................. 38 39

Government to tie up with US and Finland to jointly develop new pollution-forecast system38

40 Government inks $210 million loan agreement with World Bank for Madhya Pradesh Rural Connectivity Project...................................................................................................................................... 39 41

25 April: World Malaria Day ............................................................................................................... 40

42

PM Narendra Modi launches Rashtriya Gram Swaraj Abhiyan ................................................... 41

43

24 April: National Panchayati Raj Day ............................................................................................ 42

44

India highest recipient of Remittances in 2017: World Bank ........................................................ 43

45

Diu Smart City: First to run on 100% Renewable Energy during daytime .................................... 43

46

April 22: Earth Day .............................................................................................................................. 43

47

Sunderban Reserve Forest to get Ramsar site status ..................................................................... 44

48

Cabinet approves ordinance for death penalty for child rapists ............................................... 46

49

Government to roll out Integrated Initiative for Prevention & Control of Viral Hepatitis .......... 47

50

First International SME Convention 2018 to be held in New Delhi ............................................... 47

51

India is now world’s sixth largest economy: IMF ............................................................................. 48

52

April 19: World Liver Day .................................................................................................................... 49

53

e-SANAD portal and National Academic Depository integrated............................................... 49

54 POSHAN Abhiyaan: 1st meeting of National Council on India’s Nutrition Challenges held in New Delhi........................................................................................................................................................ 50 55

India expected to grow at 7.4% in 2018: IMF .................................................................................. 53

56

Government launches first tranche of Sovereign gold bonds for FY19 ...................................... 53

57

FIEO GlobalLinker: Government launches digital platform for MSME Exporters ........................ 54

58

India will grow at 7.3% in 2018: World Bank Report ........................................................................ 55

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1 E-way Bill comes into effect on Inter-state movement of goods over Rs 50,000:

 Nationwide electronic or e-way bill system for inter-state movement of goods has been rolled out from 1st April, 2018.  Under this system businesses and transporters have to produce before a GST inspector e-way bill for moving goods worth over Rs 50,000 from one state to another.  The Bill is touted as an anti-evasion measure that would help boost tax collections by clamping down on trade that currently happens on cash basis. Background:  The e-way bill provision of the goods and services tax (GST) was first introduced on February 1.  However, its implementation was put on hold after the system developed glitches in generating permits.  The system has been designed and developed by National Informatics Centre (NIC).  The GST Council has decided on a staggered roll-out of the e-way bill starting with inter-state from April 1 and intra-state from April 15.

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 Currently, Karnataka is the only State which has implemented the e-way bill system for moving goods within the State. The State has been using the e-way bill platform since September last year (2017) for intra-state movement of goods.

2 Delhi becomes first city to roll-out BS-VI fuel:  In order to combat the rising levels of air pollution, the Delhi-NCR region on April 1, 2018 began supplying ultra-clean Bharat Stage VI grade fuel, both petrol and diesel.  With this, Delhi became the first city in the country to switch from BS-IV grade fuels to BS-VI. BSVI fuel is equivalent to fuel meeting Euro-VI emission norms.  Background of the decision: The decision of advancing the rollout (from 2020 to 2018) has come in the backdrop of serious pollution levels in Delhi, Punjab, Haryana and Uttar Pradesh.  The BS-VI fuel will be rolled out in the rest of the country by April 2020. Bharat Stage Emission Norms:  Bharat stage emission standards -known as Bharat Stage (BS)- are emission standards to regulate the output of air pollutants from internal combustion engines and spark-ignition engines equipment, including motor vehicles.  The standards and timeline for implementation are set by Central Pollution Control Board (CPCB) under Ministry of Environment & Forests and climate change.  The standards are based on European regulations and were first introduced in 2000.  Since then, various stages Bharat Stage compatible fuel and ungraded and modified vehicles were introduced throughout the country.  The harmful emissions that are identified for regulations in different Bharat Stages (BS) are carbon monoxide (CO), unburnt hydrocarbons (HC), Nitrogen Oxides (NOx) and Particulate matter (PM).  Each stage specifies a certain limit on the pollutants released, Higher the Bharat Stage goes lesser it emits pollutants. BS-I, BS-II and BS-III stages were launched in 2000, 2005 and 2010 respectively. Benefits of switching from BS-IV to BS-VI fuel in Delhi: One of the major differences between BS-IV and BS-VI fuel is the presence of Sulphur. The BS-VI fuel is expected to reduce the amount of Sulphur released from 50 parts per million (ppm) to 10 ppm.

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Future course of action: Other cities like Noida, Ghaziabad, Gurugram, Faridabad, Mumbai, Chennai, Bengaluru, Hyderabad and Pune will also switch over to cleaner BS-VI grade fuel from January 1, 2019.

3 Atal Pension Yojana subscriber base touches over 97 lakh: PFRDA  As per data released by Pension Fund Regulatory and Development Authority (PFRDA), subscriber base of Atal Pension Yojana (APY) stood at 97.05 lakh at the end of the financial year 2017-18.  It was lower than target of 1 crore set by pension regulator PFRDA. Atal Pension Yojana (APY):

 APY became operational from June 1, 2015 with an aim to provide affordable universal access to essential social security protection to unorganized work force of country, which makes major chunk of labour force (88%).  It had replaced Swavalamban scheme.  It is available to all citizens of India in the age group of 18-40 years (thus minimum period of contribution by subscriber is 20 years).  Under scheme, subscriber will receive a minimum guaranteed pension of Rs.1000 to Rs.5000 per month, depending on his contribution, from age of 60 years.  There is no exit to the scheme before the age of 60.  In case of death of subscriber, the spouse of the subscriber shall be entitled for the same amount of pension till his or her death.

4 Adopt a Heritage Project: Monument Mitras to adopt heritage sites and monuments:

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 Ministry of Tourism in close collaboration with Ministry of Culture and Archaeological Survey of India (ASI) has launched “Adopt a Heritage Project” to provide world class tourist facilities at the various natural/cultural heritage sites, monuments and other tourist sites to make them tourist friendly, enhance their tourist potential and cultural importance in a planned and phased manner across the country.  The project primarily focuses on providing basic amenities that include cleanliness, public convenience, drinking water, ease of access for tourists, signage etc. and advanced amenities like TFC, Souvenir shop, Cafeteria etc.  The project envisages that selected public sector companies, private sector companies and individuals will develop tourist amenities at heritage sites.  They would become ‘Monument Mitra’ and adopt the sites essentially under their Corporate Social Responsibility (CSR) activity.  They would also look after the operations and maintenance of the adopted site initially for the 5 years subject to review at any time.  The project began with 93 ASI ticketed monuments and has now been expanded to other natural and cultural heritage sites and other tourist sites across India. The project was launched by the Hon’ble President of India on 27th Sept, 2017 on the occasion of World Tourism Day.  Categorization of heritage sites/monuments: The heritage sites/monuments enlisted are categorized as green, blue and orange on the basis of tourist footfall and visibility. As a part of project guidelines, it is mandatory for Monument Mitra, who is opting for a monument from green category to choose at least one site from either orange or blue category.

5 India ranks 37th in global startup ecosystem in 2017: Startupblink Report: According to a report released by StartupBlink, the Indian startup ecosystem, during 2017, ranked at number 37 out of 125 countries About the report:  StartupBlink is a global map and directory of startups, coworking spaces, accelerators, investors and reporters.  Startupblink report includes a global ranking index which has been compiled by measuring startup ecosystem strength and activity in 125 countries and 900 cities.  The rankings have been compiled in association with ANSYS Startup Program and are based on thousands of data points gathered since 2014, including data collected by StartupBlink’s representatives in more than 70 chapters around the world.  Entrepreneurs can refer the rankings to determine if a particular city has suitable business environment and resources needed to support their goals. Highlights of the Report:  India’s 37th rank outlines that there is still much to be done in terms of ease of doing business, startup policies and easing tax compliance. www.edutap.co.in

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 Besides, Indian startup ecosystem is also yet to see major exits, which is considered as an important indicator of maturity of a startup ecosystem.  In global ranking of cities, Bengaluru, New Delhi, and Mumbai are the top three Indian cities that have featured in the list.  United States (US) has topped the global ranking index of countries, followed by United Kingdom (UK) and Canada.  Among Asian Countries, Singapore (at 10th spot) has attained the highest ranking.

6 120 castes/communities notified in Central OBC list in last 3 years: Government:

Certain facts:  The Government of India notifies inclusion of castes/communities in the Central List of Other Backward Classes for different States/Union Territories on the basis of advice tendered by National Commission for Backward Classes (NCBC) under Section 9(1) of the NCBC Act, 1993.  The NCBC determines inclusion or otherwise of castes/communities in the Central List of OBCs on the basis of norms established w.r.t. social, educational, economic, representation in Central Services and Miscellaneous parameters.  A total of 120 entries containing castes, their synonyms and sub-castes have been notified in the Central List of Other Backward Classes in the last three years. About the National Commission for Backward Classes (NCBC):  It is a statutory body established under NCBC Act, 1993 in the aftermath of Mandal Case (1992) judgement.  It was established on directives of Supreme Court as it had ordered to set up permanent statutory body to look into complaints of under-inclusion, over-inclusion or non-inclusion of any class of citizens in list of OBCs. Members of NBFCs:  NCBC comprises Chairman, Social Scientist, two persons having special knowledge in matters of backward classes and member secretary. www.edutap.co.in

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 Eligibility: The chairperson must have been Judge of Supreme Court or High Court. Their appointments, removal and decision regarding salaries, allowances etc. are done by the Central Government.  Tenure: Chairperson and members have tenure of three years. What are the functions and powers of Commission?  NCBC examines request for inclusion of castes into backward classes and hear complaints of over and under inclusion.  Its advice is generally binding upon central government.  Further, every 10 years, the central government undertakes revision of the lists by consulting it.  The commission has powers of a civil court in few matters.

7 SEBI eases algorithm trade rules in commodity exchange:



  

In a bid to relax algorithm trading norms at commodity derivatives exchanges, markets regulator Securities and Exchange Board of India (SEBI) has raised the limit to process up to 100 orders per second by a user for such trade from the existing limit of 20 orders per second. The decision has been taken after receiving representations from exchanges along with views of SEBI’s subcommittee — Commodity Derivatives Advisory Committee. SEBI has asked exchanges to ensure that limit provided by it is subject to its ability to handle load. Besides, it also has decided to do away with requirement of empanelment of system auditors by the exchanges for system audit of algorithmic trading.

What is Algorithm Trading?  Algorithmic trading or ‘Algo’ in market parlance refers to orders generated at a super-fast speed by use of advanced mathematical models that involve automated execution of trade, and it is mostly used by large institutional investors.  It uses mathematical models and software codes to make transaction decisions on exchanges and execute them at high speed and enables traders to take advantage of any profit-making opportunities.  Algo trading was introduced in India in 2009.  Presently Algo trading occur at two stocks in India, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

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8 Government launches Digital Initiative for ease of exports:  The Union Ministry of Commerce and Industry has launched digital initiatives by Export Inspection Council (EIC) for ease of export.  EIC is the official export certification body of Government of India and has launched this flagship project of Digital India Initiative to keep pace with changing dynamics of the world.  In order to continue the vision for credible inspection and certification and to strengthen the confidence on Indian produce, three portals have been developed to reduce transaction time and cost in a transparent manner.  The portals not only provide an opportunity for ease of export but also plays an important role in the Go Green initiative by reducing paper usage and saving millions of trees. Features: To provide fast, efficient and transparent services for ease of doing business in all sectors the complete export food chains have been integrated in this digital platform. Primary production, chain catch, aquaculture pond, dairy farms and apiaries are all linked. Processing units, testing laboratories, official controls and exports have complete traceability. Portals: One lab one assessment portal: It provides unified approach to all stakeholders like accreditation bodies, regulators and laboratories by bringing them together on a common platform. Simplified procedures for granting joint certification and joint decisions helps in reducing cost, time and multiplicity of assessment. The Export Alert Monitoring Portal: It monitors non-compliances raised by importing countries. The portal will enable monitoring of alerts and action taken by multiple organizations involved in initial certification in the food safety & biosecurity and analyzing the trend, understanding the trade barriers to reduce the alerts and enhance the export trade. About EIC:  ECI was established by Central Government under Section 3 of Export (Quality Control and Inspection) Act, 1963.  It was established to ensure sound development of export trade of India through Quality Control and Inspection and for matters connected thereof.  EIC is advisory body to Central Government. It is empowered to notify commodities which will be subject to quality control and inspection prior to export.  It establishes standards of quality for such notified commodities. It also specifies type of quality control and inspection to be applied to such commodities.  EIC also exercises technical and administrative control over the five Export Inspection Agencies (EIAs), one each at Chennai, Delhi, Kochi, Kolkata and Mumbai established by Ministry of Commerce for purpose of implementing various measures and policies by it.

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9 NIRF Rankings 2018: IISc Overall Best, AIIMS Best Medical College:

•

The National Institutional Ranking Framework (NIRF) was approved by the Ministry of Human Resource Development (MHRD) and launched on 29th September 2015. • This framework outlines a methodology to rank higher educational institutions across the country. • The idea behind these rankings is to promote quality in education & encourage competition to perform better and to set up new benchmarks of performance in Higher education space. • The five parameters broadly cover “Teaching, Learning and Resources,” “Research and Professional Practices,” “Graduation Outcomes,” “Outreach and Inclusivity” and “Perception”. • In this third edition of India Rankings, a total of 2809 institutions have participated in 9 categories. • NIRF, in its first rankings in 2016, had four categories — universities, engineering, management and pharmacy. In 2017, overall and college categories were added. This year also saw the beginning of ranking of institutions in new areas like Medicine, Law and Architecture. The Rankings in various categories:

Note: Institutions with less than 1000 enrolled students are not ranked in the Overall Category.

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Special Mention Institutions:  There were some institutions, which could not be placed in any of the 9 categories.  These institutions have been placed in special category status because of the quality of research work and are mentioned below:

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10 Cabinet approves Protection of Human Rights (Amendments) Bill, 2018:  The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the Protection of Human Rights (Amendments) Bill, 2018 for better protection and promotion of human rights in the country.  The Bill will amend Protection of Human Rights, 1993 which was last amended in 2006. What are the salient features of the bill?  It proposes to include “National Commission for Protection of Child Rights” as deemed Member of the Commission;  It proposes to add a woman Member in the composition of the Commission;  It proposes to enlarge the scope of eligibility and scope of selection of Chairperson, National Human Rights Commission as well as the State Human Rights Commission; and  It proposes to incorporate a mechanism to look after the cases of human rights violation in the Union Territories.  It proposes to amend the term of office of Chairperson and Members of National Human Rights Commission and State Human Rights Commission to make it in consonance with the terms of Chairperson and Members of other Commissions. What are the benefits of the Bill?  The Amendment will strengthen the Human Rights Institutions of India further for effective discharge of their mandates, roles and responsibilities.  Moreover, the amended Act will be in perfect sync with the agreed global standards and benchmarks towards ensuring the rights relating to life, liberty, equality and dignity of the individual in the country. The National Human Rights Commission of India:

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 The Rights Commission (NHRC) of India is an autonomous public body responsible for the protection and promotion of human rights, defined by the Act as "rights relating to life, liberty, equality and dignity of the individual guaranteed by the Constitution or embodied in the International Covenants.  It was constituted on 12 October 1993 under the Protection of Human Rights Ordinance of 28 September 1993.  It was given a statutory basis by the Protection of Human Rights Act, 1993 (TPHRA).  The Commission is composed of a chairperson and six members. The chairperson has to have been a chief justice of the Supreme Court.  The purpose of the NHRC is, suo moto or through the petition of a person, to investigate the violation of human rights or the failures of the state or other to prevent a human rights violation.

11 RBI defers adoption of Ind-AS by 1 year for banks:  The Reserve Bank of India has deferred the adoption of Indian Accounting Standards (Ind AS) by banks, for a year (To be implemented till April 2019), due to unpreparedness of banks to migrate to the new accounting system.  RBI has requested Government to amend Banking Regulation Act, 1949 as format of financial statements as prescribed under Schedule 3 of Act is not amenable to reporting financial statements under Ind-AS. What is Ind AS?  Ind AS is global accounting practice that lender is mandated to adopt.  The practice is on par with International Financial Reporting Standard (IFRS) 9.  It governs the accounting and recording of financial transactions as well as presentation of statements such as profit and loss account and balance sheet of lender or a company. What are these accounting standards?  Banks and non-banking financial companies currently follow generally accepted accounting principles (GAAP) standards.  Corporate entities started complying with IndAS with effect from 1 April 2016.  In February 2016, RBI had issued circular mandating commercial banks, barring regional rural banks to implement Ind AS from April 1, 2018.  As part of this, RBI was asking banks to submit half-yearly returns based in Ind-AS format. What is the major change that would take place?  Key change under new rules was the need to provision for accounts based on expected loss, instead of when account turns into a non-performing asset (NPA).  Because of this key change, it is estimated that scheduled commercial banks may need up to Rs 89,000 crore towards incremental provisioning for advances while transiting to Ind-AS regime. www.edutap.co.in

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12 RBI constitutes inter-departmental group to study launching of fiat digital currency:  The Reserve Bank of India has constituted an inter-departmental group to study and provide guidance on feasibility to introduce fiat digital currency backed by it.  The committee is expected to submit the report by the end of June 2018. Fiat Currency:  It is the currency that a government has declared to be legal tender. It is different from cryptocurrency or virtual currency like Bitcoin which is not legal tender and not backed by the government.  Fiat Digital Currency is the digital form of fiat money which is currently established as money by government regulation or law.  As opposed to private digital tokens, fiat digital currency will be issued by the central bank.  It will constitute the liability of central bank and will be in circulation in addition to widely used paper and metallic currency.  They will be based on blockchain technology which is the backbone of unregulated virtual currencies like bitcoin.  Blockchain technology behind it has potential benefits for financial inclusion and enhancing the efficiency of the financial system. What is the need?  Central banks around world are exploring options of introducing ‘fiat’ digital currencies in landscape of rapidly changing payments industry with technological evolution.  The emergence of private digital tokens such as virtual currencies and rising costs of managing fiat paper and metallic money have led them to explore option of introducing ‘fiat digital currencies’.

13 CBDT forms Working Group to assess tax risks of High Net Worth Individuals migrating abroad:  The Central Board of Direct Taxes (CBDT) has constituted a five-member working group to examine the taxation aspects related to High Net Worth Individuals (HNIs) who are migrating abroad to other jurisdictions.  The Working Group will be headed by Pragya Sahay Saksena, a joint secretary with Foreign Tax & Tax Research Division of CBDT.  It shall make recommendations for policy decision in respect of tax risks of the migrating HNWIs.  The Group has also been empowered to coordinate with various divisions /directorates of Board to formulate India’s position for various aspects related to taxation of migrating HNWIs. www.edutap.co.in

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The Central Board of Direct Taxes (CBDT):    

It is the nodal policy-making body of the Income Tax (IT) department under Finance Ministry. It is a statutory authority established under The Central Board of Revenue Act, 1963. It is supreme body in India for framing policies related to direct taxes. The composition of CBDT includes Chairman and six members.

14 RBI’s first bimonthly policy FY 2018-19: Policy rates unchanged:

 The Reserve Bank of India has released the first bimonthly policy review for the financial year 2018-19.  The Monetary Policy report is published under Section 45ZM of the Reserve Bank of India Act, 1934. Key Policy Rates:  Repo rate: It was unchanged at 6%. It is rate at which RBI lends to its clients generally against government securities.  Reverse Repo Rate: It was unchanged at 5.75%. It is rate at which banks lend funds to RBI.  Marginal Standing Facility (MSF) Rate: It was unchanged at 6.25%. It is rate at which scheduled banks can borrow funds overnight from RBI against government securities. It is very short term borrowing scheme for scheduled banks.  Bank Rate: It was unchanged at 6.25%. It is rate charged by central bank for lending funds to commercial banks. Higher bank rate will translate to higher lending rates by banks. It influences lending rates of commercial banks.  Cash Reserve Ratio (CRR): It was unchanged at 4%. It is amount of funds that banks have to keep with RBI. The RBI uses CRR to drain out excessive money from system.  Statutory Liquidity Ratio (SLR): It was unchanged at 19.5%. It is amount that banks have to maintain a stipulated proportion of their net demand and time liabilities (NDTL) in form of liquid assets like cash, gold and unencumbered securities, treasury bills, dated securities etc.  The decision of the MPC is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. www.edutap.co.in

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 This is the fourth policy review in sequence in which the MPC has kept the Repo Rate unchanged.  The next meeting of the MPC is scheduled on June 5 and 6, 2018. Other major Projections: CPI Inflation Projection:  The CPI inflation re-projected at 4.7-5.1% for April-September (H1) and 4.4% for October-March (H2) of F.Y. 2018-19 including estimated impact of an increase in the house rent allowance (HRA) for central government employees under the 7th Central Pay Commission (CPC).  Excluding the impact of HRA revisions, CPI inflation is projected at 4.4-4.7% for April-September (H1) and 4.4% for October-March (H2) of F.Y. 2018-19.  CPI inflation in Q4 of FY-18 is now re-projected at 4.5% from earlier projection of 5.1% due to decline in inflation in food and fuel. GDP Projection: • •

•

RBI shifted projecting GDP (gross domestic product) as against GVA (gross value added) growth earlier. GDP growth is projected to strengthen from 6.6% in 2017-18 to 7.4% in 2018-19 – in the range of 7.3-7.4 per cent in H1 (April-September) and 7.3-7.6% in H2 (October-March) – with risks evenly balanced. It also suggested that output gap is closing but downside risks on global trade protectionism, market volatility and weak domestic public finances exists.

15 7 April: World Health Day:  The World Health Day (WHD) is observed every year on 7th April to mark anniversary of founding of World Health Organization (WHO) on this day in 1948.  Theme for 2018: ‘Universal Health Coverage: Health For All’. It aims to ensure that everyone, everywhere should have access to essential quality of health services and should not experience any financial hardship while getting quality medical service.

16 Ban Ki-moon elected as Chairman of Boao Forum:  Former UN Secretary-General Ban Ki-moon was elected as the new chairman of the Boao Forum for Asia (popularly also known as ‘Asian Davos’, in a diplomatic boost to the think-tank modelled after the World Economic Forum which is held annually in Davos.  The second session of the Boao forum was held in a town Boao in China’s Hainan province.  The theme was: ‘An Open and Innovative Asia for a World of Greater Prosperity’.  Ban Ki-moon is South Korean diplomat and was eighth Secretary-General of United Nations from January 2007 to December 2016. www.edutap.co.in

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 The forum saw the participation of many political and economic leaders including heads of large multinational firms.  It was attended by UN Secretary General Antonio Guterres, International Monetary Fund (IMF’s) Managing Director Christine Lagarde, Austrian President Alexander van der Bellen and Philippines President Rodrigo Duterte. About Boao Forum for Asia (BFA):

 BFA is non-profit organisation that hosts high-level forums for leaders from government, business and academia in Asia and other continents to share their vision on most pressing issues in this dynamic region and the world.  It was established in the year 2001.  Its first meeting was held in April 2002 and since then it is held annually. Its fixed address is held annually in Boao, Hainan province, China although it has Secretariat in Beijing.  The Forum is committed to promoting regional economic integration and bringing Asian countries even closer to their development goals.  Some facts: The Federation of Chambers of Commerce of India (FICCI) is one of the founding members of BFA and famous Industrialist Ratan Tata was one of the board members.

17 FSSAI launches Project Dhoop to address vitamin D deficiency amongst youngsters:

 The Food Safety and Standards Authority of India (FSSAI) has launched 'Project Dhoop', an initiative aimed at shifting the school assembly time to noon mainly between 11:00 a.m. to 1:00 p.m. to ensure maximum absorption of Vitamin D in students through natural sunlight.

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 Project Dhoop's Noon Assembly is an innovative and effective concept to ensure that school students get adequate Vitamin D through sunlight, while also opting to choose food products like milk and edible oils that are fortified with Vitamins A and D.  Need: Studies have shown that over 90 per cent of boys and girls across the country were deficient in Vitamin D. Significance:  Micronutrients including vitamins are needed by people in only very small amounts, but these are the "magic wands" that enable the body to produce enzymes, hormones and other substances essential for proper growth and development.  As tiny as the amounts are, the consequences of their absence are severe particularly children and pregnant women in countries like India.

18 April 11: National Safe Motherhood Day:

 National Safe Motherhood Day is observed on April 11 of every year to enforce that women must have the availability and adequate access to care during pregnancy, childbirth and postnatal services.  It is an initiative of the White Ribbon Alliance India (WRAI). It is an alliance of 1800 organizations.  In 2003, at the request of WRAI, the government declared 11th April as the National Safe Motherhood Day, which is the anniversary of Kasturba Gandhi’s birth.  Theme 2018: Respectful Maternity Care

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19 Government sets up committee to review the enforcement of CSR provisions:  The Union government has set up a 12-member panel to review the enforcement of CSR provisions under the Companies Act, 2014 as well as look at having a centralised scrutiny and prosecution mechanism to deal with violations.  The 12-member panel is headed by Regional Director (Western Region) Manmohan Juneja.  There will be two sub-committees viz. legal and technical that will go into various aspects in relation to compliance with CSR provisions.  The latest move by the Corporate Affairs Ministry, which is implementing the Companies Act, comes little over four years after the Corporate Social Responsibility (CSR) norms came into force on April 1, 2014. Terms of reference of the panel:  The panel would revisit the guidelines for enforcement of CSR provisions and basis, including structure of Centralised Scrutiny and Prosecution Mechanism (CSPM).  It will also look at methodologies for monitoring of compliance by companies with CSR norms for having an effective CSPM.  The panel will revisit Schedule VII of Companies Act, 2013, on the basis of references received from stakeholders, including ministries and department of centre and states, members of Parliament, member of state legislatures and civil societies.  Schedule VII pertains to the board list of CSR activities that can be taken up under the Act.

20 NITI Forum for Northeast outlines 5 development missions: NITI Forum for North-East:  It was constituted in February 2018 with an aim to ensure sustainable economic growth of North Eastern Region (NER) and periodically review the development status in NER.  The forum will be co-chaired by the Vice-Chairman of NITI Aayog and Minister of State (I/C), Ministry of Development of Northeastern Region (DoNER). The forum will have its Secretariat in the Ministry of DoNER.  The NITI Forum for Northeast is tasked to identify various constraints on the way of accelerated, inclusive and sustainable economic growth in the North East Region of the country and to recommend suitable interventions for addressing identified constraints.  It will also review the development status in the NER. Current News:  The first meeting was held in Agartala, Tripura.  It was organised by NITI Aayog and Ministry of Development of North East Region (DoNER) and North Eastern Council (NEC). www.edutap.co.in

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 It was co-chaired by NITI Aayog Vice-Chairman Rajeev Kumar and Minister of State (Independent Charge), for DoNER, Jitendra Singh.  Representatives of all eight-member northeastern states Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura participated in it. Important developments in the meeting:  5 development missions launched: These were launched for sectors like horticulture, tourism and food processing in the region.  Other missions will cover bamboo-based handicrafts and medium scale industries with focus on ‘Make in North-East’.  The focus of development projects in the region will be based on the concept of "HIRA" which stands for Highways, Internet ways, Railways and Airways. The emphasis will also be on education, health and skill development in the region.

21 Index of Economic Freedom 2018: India ranks 130th:  India has been ranked 130th among 180 countries in the annual Index of Economic Freedom report released by American think tank Heritage Foundation.  India’s score is 54.5 in 2018.  India was ranked 143rd with the score of 52.6 points in 2017.  India's overall score has increased by 1.9 points, led by improvements in judicial effectiveness, business freedom, government integrity, and fiscal health. More about the index:  The countries are ranked on a score of 0 (least free) to 100 (most free).  Countries are ranked under 5 categories according to their scores -- free (100-80), mostly free (79.9-70), moderately free (69.9-60) mostly unfree (59.9-50) and repressed (49.9-0).  The score is based on 12 factors of economic freedom, separated into four categories, using statistics from international organizations like World Bank, IMF, Economist Intelligence Unit and Transparency International. What are the Twelve Factors? Property rights, government integrity, tax burden, judicial effectiveness, government spending, fiscal health, business freedom, monetary freedom, labor freedom, trade freedom, investment freedom and financial freedom. Other important facts: The top 10 countries: Hong Kong, Singapore, New Zealand, Switzerland, Australia, Ireland, Estonia, United Kingdom, Canada and UAE. www.edutap.co.in

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22 India’s economy to grow 7.3% in 2018-19 and 7.6% in 2019-20: ADB Outlook:  The Asian Development Outlook 2018 released by Asian Development Bank (ADB) has projected India’s economic growth to 7.3% in 2018-19 fiscal and further to 7.6% in 2019-20 fiscal.  The Asian Development Report is published every year in March/April with an update published in September and brief supplements published in July and December.

The Asian Development Bank (ADB):

 ADB is a regional development bank which aims to promote social and economic development in Asia.  It was established in December 1966. It is headquartered in Manila, Philippines.  Currently, it has 67 members of which 48 are from within Asia and the Pacific and 19 outside.  As of 2014, Japan was largest shareholder (capital subscription) of ADB having 15.7% shares followed by US (15.6%), China (6.5%), India (6.4%), and Australia (5.8%).

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 It has a weighted voting system where votes are distributed in proportion with members’ capital subscriptions.

23 RBI tightens reporting norms for Liberalized Remittance Scheme:  The Reserve Bank of India (RBI) has decided to put in place a system for daily reporting of individual transactions by banks under the Liberalised Remittance Scheme (LRS).  LRS is facility provided by RBI for all resident individuals including minors to freely remit up to certain amount in terms of US Dollar for current and capital account purposes or combination of both.  The move is aimed at improving the monitoring and ensuring compliance with the LRS ceilings.  Indians were currently allowed to invest overseas $250,000 (Rs.1.5 crore) a year per person. Current situation:  Currently, transactions under Liberalised Remittance Scheme (LRS) are being permitted by authorised dealer (AD) banks based on the declaration made by the remitter.  As such, it is difficult for the authorised dealer banks to monitor/ensure that a remitter has not breached the prescribed limit by approaching multiple authorised dealer banks. After the tightening of the norms:  Now under tightened reporting norms, daily reporting system by Authorised Dealer (AD) banks of transactions undertaken by individuals under LRS has been placed, which will be accessible to all the other ADs.  It will be mandatory for banks to upload daily transaction-wise information undertaken by them under LRS. More about the scheme:  The scheme was introduced in February 2004 and its regulations are provided under Foreign Exchange Management Act (FEMA), 1999.  Under LRS, individuals can make remittances for overseas education, travel, medical treatment, maintenance to relatives living abroad, gifting and donations.  The remitted money can be used for purchase of shares and property as well.  Individuals can also open, maintain and hold foreign currency accounts with overseas banks for carrying out transactions under it.  There are certain restrictions as well. What are the restrictions?  Under LRS, remittances cannot be used for trading on foreign exchange markets, purchase of Foreign Currency Convertible Bonds issued abroad by Indian companies and margin or margin calls to overseas exchanges and counterparties. www.edutap.co.in

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 Similarly, individuals are not allowed to send money to countries identified as ‘non-cooperative jurisdictions’ by Financial Action Task Force (FAFT).

24 Government extends Phase-1 of FAME-India scheme by 6 months:

 The Union government has extended the phase-1 of FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) India scheme for a further period of six months up to September 30, 2018.  The extension is deemed to have taken effect on 1st April 2018. FAME India Scheme:  The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME-India) was launched in 2015 under National Electric Mobility Mission Plan (NEMMP) with an aim to promote eco-friendly vehicles in country.  Objective: Its objective is to provide fiscal and monetary incentives for adoption and market creation of both hybrid and electric technologies vehicles in the country.  It aims at incentivizing all vehicle segments, including two-wheelers, three-wheeler auto, passenger four-wheeler vehicle, light commercial vehicles and buses.  The scheme covers hybrid and electric technologies like a strong hybrid, plug-in hybrid and battery electric vehicles.  Its mandate is to support hybrid or electric vehicles market development and its manufacturing eco-system in country in order to achieve self-sustenance in stipulated period.  It is being administered by the Heavy Industries Ministry.

25 RBI switches back to GDP model from GVA model to measure economy: The Reserve Bank of India has switched back to the gross domestic product (GDP)-based measure to offer its growth estimates from the gross value added (GVA) methodology, citing global best practices. Background:  Government had started analysing growth estimates using GVA methodology from January 2015 and had also changed the base year to 2018 from January.  Even the Central Statistical Office (CSO) has started using GDP model as supply-side measure of economic activity as main measure of economic activity as main measure of economic activities since January 15, 2018. www.edutap.co.in

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The difference between the two? The GVA methodology gives picture of state of economic activity from producers’ side or supply side whereas the GDP model gives picture from consumer’s side or demand perspective.

26 Special 301 Report: USTR again places India Priority Watch List

 The Office of the United States Trade Representative (USTR) released the 2018 Special 301 Report identifying trading partners that do not adequately or effectively protect and enforce intellectual property (IP) rights or otherwise deny market access to US companies that rely on protection of their IP rights.  The report calls on US trading partners to address IP-related challenges with a special focus on the countries identified on the Watch List and Priority Watch List.  The Special 301 Report is an annual review of the global state of IP protection and enforcement. USTR conducts the review pursuant to Section 182 of the Trade Act of 1974.  USTR identified 36 countries on the Priority Watch List or Watch List.  China along with India have been placed on the Priority Watch List  India remains on the Priority Watch List this year for longstanding challenges in its IP framework and lack of sufficient measurable improvements, particularly with respect to patents, copyrights, trade secrets, and enforcement, as well as for new issues that have negatively affected US right holders over the past year.

27 PM Narendra Modi launched Van Dhan Scheme

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 The Prime Minister of India Shri Narendra Modi launched the Van Dhan Scheme of Ministry of Tribal Affairs and TRIFED on 14th April, 2018 during the celebrations of Ambedkar Jayanti at Bijapur, Chattisgarh.  Emphasizing the important role of value addition in increasing tribal incomes, he stated that Van Dhan, Jan Dhan and Gobar-Dhan Schemes had the potential to change the tribal-rural economic system.  The scheme aims at economic development of tribals involved in collection of Minor Food Produces (MFPs) by helping them in optimum utilization of natural resources and provide them sustainable livelihood.  Under Van Dhan, 10 Self Help Groups of 30 Tribal gatherers is constituted.  They are then trained and provided with working capital to add value to the products, which they collect from the jungle. Working under the leadership of Collector these groups can then market their products not only within the States but also outside the States. Training and technical support is provided by TRIFED.  It is proposed to develop 30,000 such centres in the country. Minor Forest Produce:  Minor Forest Produce (MFP) is a major source of livelihood for tribals living in forest areas.  The importance of MFPs for this section of the society can be gauged from the fact that around 100 million forest dwellers depend on MFPs for food, shelter, medicines and cash income.  It provides them critical subsistence during the lean seasons, particularly for primitive tribal groups such as hunter gatherers, and the landless.  Tribals derive 20-40% of their annual income from MFP on which they spend major portion of their time.  This activity has strong linkage to women’s financial empowerment as most of the MFPs are collected and used/sold by women. MFP sector has the potential to create about 10 million workdays annually in the country Minor Forest Produce (MFP) is a subset of forest produce and got a definition only in 2007 when the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006, was enacted. Section 2(i) of the said Act defines a Minor Forest Produce (MFP) as all non-timber forest produce of plant origin and includes bamboo, brushwood, stumps, canes, Tusser, cocoon, honey, waxes, Lac, tendu/kendu leaves, medicinal plants and herbs, roots, tuber and the like.

28 Asia Pacific Regional Workshop of UNCCD held in New Delhi  A four-day Asia Pacific Regional Workshop of the United Nations Convention to Combat Desertification (UNCCD), jointly hosted by the Ministry of Environment, Forest and Climate Change (MoEFCC) and UNCCD Secretariat, to build the capacity of the Asia-Pacific Region to monitor and report on land degradation was held in New Delhi www.edutap.co.in

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 The four-day Workshop (April 24-27, 2018) trained the participants in the use of an innovative land degradation monitoring tool by Conservation International, for the reporting process of UNCCD.  The participants were trained in use of state-of-the-art tool called ‘Trends.Earth’ developed by Conservation International, an NGO for combating land degradation  This can significantly increase access to large amounts of Earth observation data and make it available in a comprehensible form for decision-makers at national and state level, thereby contributing to achieving the objectives underlined in the Convention.  The data presented in the land degradation Tool will be used for reporting to the UNCCD and as part of the indicator framework for the Sustainable Development Goals (SDGs). About UNCCD:

   

UNCCD was adopted in 1994 and entered into force 1996 It is the only legally binding international agreement on land issues. The Convention promotes good land stewardship. Its 197 Parties aim, through partnerships, to implement the Convention and achieve the Sustainable Development Goals.  The end goal is to protect land from over-use and drought, so it can continue to provide food, water and energy.  By sustainably managing land and striving to achieve Land Degradation Neutrality, now and in the future, not only will the impact of climate change be reduced, but a conflict over natural resources will be avoided. The Ministry of Environment, Forest and Climate Change is the nodal Ministry for this Convention, as well as the other two Rio Conventions - United Nations Framework Convention to Combat Climate Change and the Convention on Biological Diversity, having their genesis in the Earth Summit in 1992 in Rio De Janerio, Brazil.

29 NSE’s India Index Services & Products Ltd (IISL) launches Nifty equity savings index

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The National Stock Exchange’s (NSEs) arm India Index Services & Products Ltd (IISL) has launched Nifty equity savings index that will serve as benchmark for equity saving funds offered by various mutual funds. The index will capture performance of portfolio having exposure to equity, equity arbitrage and debt instruments in similar way to the investment philosophy of equity savings funds. The Nifty Equity Savings Index has a 35% exposure to Nifty 50 Total Return Index, 30% exposure to equity arbitrage (long position in Nifty 50 Total Return Index and equivalent short position in Nifty 50 Futures Index), 30% exposure to Nifty Short Duration Debt Index and 5% exposure to Nifty 1D Rate Index. The base date for the index is April 1, 2005 and base value is 1,000. The index is calculated on an endof-day basis. About India Index Services and Products Limited (IISL)

 IISL, a subsidiary of the NSE provides a variety of indices and index related services and products for the Indian capital markets.  It is based in Mumbai, Maharashtra About National Stock Exchange (NSE):

 The National Stock Exchange of India Limited (NSE) is the leading stock exchange of India, located in Mumbai.  The NSE was established in 1992 as the first demutualized electronic exchange in the country.  NSE was the first exchange in the country to provide a modern, fully automated screen-based electronic trading system which offered easy trading facility to the investors spread across the length and breadth of the country.  Vikram Limaye is Managing Director & Chief Executive Officer (MD & CEO) of NSE.  NSE's flagship index, the NIFTY 50, the 50 stock index is used extensively by investors in India and around the world as a barometer of the Indian capital markets.  Nifty 50 index was launched in 1996 by the NSE www.edutap.co.in

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30 NITI Aayog launches Atal New India Challenge under Atal Innovation Mission  The Atal Innovation Mission (AIM) of the NITI Aayog has announced to launch the Atal New India Challenge to bring innovations and technologies relevant to the people.  Atal New India Challenge shall run in collaboration with five ministries (names given below)  It will invite prospective innovators/MSMEs/start-ups to design market-ready products, using cutting edge technologies or prototypes across 17 identified focus areas, namely, Climate-smart agriculture, Fog vision system for road and rail, Prevention of Rail failure using emerging technologies, Predictive maintenance of Rolling Stock, Alternate fuel based transportation, Smart Mobility, Electric Mobility, Safe transport, Instant Portable Water Quality Testing, Affordable Desalination / Recycling Technology, Waste management recycling / reuse, Garbage composition devices, Quality of compost, Decentralized composting, Mixing blades for composting, Waste in public spaces and Dissuading public littering.  Partnering with the Ministries of Road Transport and Highways, Housing and Urban Affairs, Agriculture and Family Welfare, Drinking Water & Sanitation and the Railway Board, AIM will attempt to harness the potential of India’s innovators.  The programme is open to Indian companies registered under the Companies Act 1956/2013, primarily a Micro, Small and Medium Enterprises (MSME) as defined in the MSMED Act, 2006.  It is also open to Start-Ups, as defined by the Department of Industrial Policy and Promotion (DIPP), Government or private R&D organizations (other than a Railway R&D organization), academic institutions, academicians, or even individual innovators are encouraged to apply, provided they partner with entities with appropriate manufacturing capabilities.  Grants shall be awarded in up to 3 tranches within 12 – 18 months, contingent on achieving milestones and up to a total of 50 grants in fiscal year 2018 – 19 may be given out.  The grants will not be mutually exclusive - several grants may be given in a focus area. About AIM:

 With a view to give substantial boost to the innovation ecosystem and to catalyse the entrepreneurial spirit in the country, Finance Minister in his Budget Speech 2015-16 announced the Government's intention to establish the Atal Innovation Mission (AIM) and a mechanism to be known as SETU in NITI with an initial sum of Rs. 500 crore and Rs. 1000 crore respectively. www.edutap.co.in

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 The AIM and SETU have been initiated as a follow up of Union Budget 2015-16 announcements.  Further, it was observed that AIM is a Mission and SETU is an approach. Therefore, there is one umbrella scheme titled as 'AIM' which will have two sub-components – i) Innovation; and ii) SETU, wherein the innovators would be supported and mentored as successful entrepreneurs.  The Atal Innovation Mission has two core functions: Entrepreneurship promotion through SelfEmployment and Talent Utilization, wherein innovators would be supported and mentored to become successful entrepreneurs and Innovation promotion: to provide a platform where innovative ideas are generated  To realize these two core objectives, AIM has different sub-components. Atal Incubation Centers, Atal Tinkering Laboratories, Atal Grand Challenge Awards and Scale up Support to Established Incubation Centers.

31 ITC ties up with NITI Aayog to train 2 lakh farmers to increase their income  NITI Aayog and ITC Ltd have planned to collaborate in the area of agriculture and allied sectors in order to strengthen farming systems across 25 aspirational districts.  The partnership is for a period of four years till April 2022 with the prime objective of increasing net returns from farming through reduction in costs of production and increasing productivity of major crops in each of the identified district.  The 25 aspirational districts covers States of Assam, Uttar Pradesh, Madhya Pradesh, Rajasthan, Bihar and Jharkhand.  ITC will promote best practices and technologies, set-up demonstration farms and also create master trainers from government extension workers. Master trainers will be created at the block level. The company will also work out the logistics to ensure the farmers are trained even at the gram panchayat level.  Launched by the Centre in January, the ‘transformation of aspirational districts’ program aims to quickly and effectively improve the performance of these districts across identified key performance indicators in sectors which improves quality of life and economic productivity in areas like health and nutrition, education, agriculture and water resource management, financial inclusion, skill development and basic infrastructure. About the Aspirational Districts Programme:

 Launched by the Hon’ble PM in January, the ‘Transformation of Aspirational Districts’ programme aims to quickly and effectively transform some of the most underdeveloped districts of the country. www.edutap.co.in

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 The broad contours of the programme are Convergence (of Central & State Schemes), Collaboration (of Central, State level ‘Prabhari’ Officers & District Collectors), and Competition among districts driven by a mass Movement  With States as the main drivers, this program will focus on the strength of each district, identify low-hanging fruits for immediate improvement, measure progress, and rank districts.  After several rounds of consultations with various stakeholders, 49 key performance indicators have been chosen to measure progress of the districts.  Districts are prodded and encouraged to first catch-up with the best district within their state, and subsequently aspire to become one of the best in the country, by competing with, and learning from others in the spirit of competitive & cooperative federalism.  NITI Aayog in partnership with the Government of Andhra Pradesh has created a dashboard for monitoring the real-time progress of the districts.

32 India ranks 138th in World Press Freedom Index 2018  India has been ranked 138 in the 2018 World Press Freedom Index, down two places from 2017, in the latest annual report released by Reporters Without Borders  Norway topped the list for the second year in a row, the while North Korea remained the most repressive country followed by Eritrea, Turkmenistan, Syria and then China.  It was ranked at the 135th in WPFI 2017. About World Press Freedom Index:

 Published every year since 2002 by Reporters Without Borders (RSF), the World Press Freedom Index is an important advocacy tool based on the principle of emulation between states.  The Index ranks 180 countries according to the level of freedom available to journalists.  It is a snapshot of the media freedom situation based on an evaluation of pluralism, independence of the media, quality of legislative framework and safety of journalists in each country.  The degree of freedom available to journalists in 180 countries is determined by pooling the responses of experts to a questionnaire devised by RSF.

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 The parameters include media pluralism and independence, respect for the safety and freedom of journalists, and the legislative, institutional and infrastructural environment in which the media operate.

33 CCEA approves restructured National Bamboo Mission

 The Cabinet Committee on Economic Affairs chaired by the Prime Minister has approved Centrally Sponsored Scheme of National Bamboo Mission (NBM) under National Mission for Sustainable Agriculture (NMSA) during remaining period of Fourteenth Finance Commission (2018-19 & 2019-20).  The Mission would ensure holistic development of the bamboo sector by addressing complete value chain and establishing effective linkage of producers (farmers) with industry. Expenditure:  An outlay of Rs.1290 crore (with Rs. 950 crore as Central share) is provisioned for implementation of the Mission during the remaining period of 14th Finance Commission (2018-19 and 2019-20). Beneficiaries:  The scheme will benefit directly and indirectly the farmers as well as local artisans and associated personnels engaged in bamboo sector including associated industries.  Since it is proposed to bring about one lakh ha area under plantation, it is expected that about one lakh farmers would be directly benefitted in terms of plantation. States/ districts covered:  The Mission will focus on development of bamboo in limited States where it has social, commercial and economical advantage, particularly in the North Eastern region and States including Madhya Pradesh, Maharashtra, Chhattisgarh, Odisha, Karnataka, Uttarakhand, Bihar, Jharkhand, Andhra Pradesh, Telangana, Gujarat, Tamil Nadu and Kerala.  The Mission is expected to establish about 4000 treatment/ product development units and bring more than 100000 ha area under plantation. Background:

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 National Bamboo Mission (NBM) was initially started as a Centrally Sponsored Scheme in 200607 and was subsumed under Mission for Integrated Development of Horticulture (MIDH) during 2014-15 and continued till 2015-16.  There was weak linkage between the producers (farmers) and the industry.  The restructured proposal gives simultaneous emphasis to propagation of quality plantations of bamboo, product development and value addition including primary processing and treatment; micro, small & medium enterprises as well as high value products; markets and skill development, thus addressing the complete value chain for growth of the bamboo sector.

34 India-Sao Tome and Principe: Cabinet approves MoU for Cooperation in field of Traditional Medicines  The Union Cabinet has given its ex-post facto approval for the Memorandum of Understanding (MoU) between India and Sao Tome and Principe on cooperation in the field of Medicinal Plants. Background:  India is one of the richest countries in the world in terms of biodiversity, having 15 agro-climatic zones.  Out of the 17000-18000 species of flowering plants, more than 7000 are estimated to have medicinal usage in folk and documented systems of medicine like Ayurveda, Unani, Siddha & Homoeopathy (AYUSH System of Medicine).  About 1178 species of medicinal plants are estimated to be in trade of which 242 species have annual consumption levels in excess of 100 metric tonnes/year.  There is global resurgence in traditional and alternative health care systems resulting in world herbal trade which stands at US$ 120 billion and is expected to reach US$ 7 trillion by 2050.  The Ministry of AYUSH is having mandate to promote, propagate and globalize the Traditional Systems of Medicine including Ayurveda, Yoga and Naturopathy, Unani, Siddha, Sowa-Rigpa and Homoeopathy.  It has taken numerous effective steps by entering into MoU with Malaysia, Trinidad & Tobago, Hungry, Bangladesh, Nepal, Mauritius, Mongolia, Iran for cooperation in traditional medicine.

35 Cabinet approves declaration of Scheduled Areas in Rajasthan under Fifth Schedule

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 The Union Cabinet has given approval inclusion of certain areas in Rajasthan under Fifth Schedule to Constitution so that tribals living there can avail benefit of protective measures under its provisions.  The Scheduled Tribes residing in Banswara, Dungarpur, Pratapgarh, and partial areas of Udaipur, Rajsamand, Chittorgarh, Pali and Sirohi districts of Rajasthan will get benefits of protective measures available under the Fifth Schedule to the Constitution of India.  The areas comprising of 3 complete districts namely,Banswara, Dungarpur, Pratapgarh; 9 complete tehsils, 1 complete block and 46 complete gram panchayats covering 227 villages in district Udaipur, Rajsamand, Chittorgarh, Pali and Sirohi of Rajasthan, would be included in the Scheduled Areas in the State of Rajasthan About Scheduled Areas:  As per paragraph 6(1) of the Fifth Schedule {Article 244(1)} to the Constitution of India, the expression 'Scheduled Areas' means ‘such areas as the President may by order declare to be Scheduled Areas'.  In accordance with the provisions of paragraph 6(2) of the Fifth Schedule to the Constitution, the President may at any time by order increase the area of any Scheduled Area in a State after consultation with the Governor of that State; rescind, in relation to any State or States, any order or orders made under this paragraph, and in consultation with the Governor of the State concerned, make fresh orders redefining the areas which are to be Scheduled Areas.  The Scheduled Areas were first notified in the year 1950.  Subsequently, Constitution Orders specifying the Scheduled Areas were issued for State of Rajasthan in1981.  Due to reorganization/creation of new districts and changes in population of Scheduled Tribes as per 2011 Census, the Government of Rajasthan has requested for extension of Scheduled Areas in the State of Rajasthan.

36 National Biopharma Mission: Government inks Legal Agreements with World Bank  A Legal Agreement with World Bank for flexible financing arrangements for National Biopharma Mission of DBT has been executed between the project implementing agency - BIRAC a PSU of DBT, Department of Economic Affairs, Ministry of Finance, Govt. of India and International Bank for Reconstruction and Development (on behalf of World Bank).  This mission will mark the beginning of a new partnership between DBT and World Bank.  It is envisaged that this programme will revolutionize the Biotech market and help deliver 6-10 new products in the next five years, create several dedicated facilities for next-generation skills, and hundreds of jobs in the process.

About National Biopharma Mission:

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 The mission was launched by Ministry of Science & Technology in 2017.  The program named Innovate in India (I3) is an industry- academia collaborative mission of Department of Biotechnology (DBT) in collaboration with World Bank for accelerating discovery research to early development of Biopharmaceuticals and to be implemented by Biotechnology Industry Research Assistance Council (BIRAC).  I3 will witness an investment of USD 250 million with USD 125 million as a loan from World Bank and is anticipated to be a game changer for the Indian Biopharmaceutical industry.  It aspires to create an enabling ecosystem to promote entrepreneurship and indigenous manufacturing in the sector.  Currently India has only 2.8% share in the global biopharmaceutical market, the program would elevate this to 5% resulting in an additional business opportunity of 16 Billion USD.

37 CCEA approves Minimum Support Prices for Raw Jute for 2018-19 season  The government has increased the minimum support price (MSP) of raw jute by Rs 200 per quintal to Rs 3,700 per quintal for the 2018-19 crop season.  The increased MSP is based on recommendations of the Commission for Agricultural Costs and Prices (CACP).  The decision would benefit jute farmers mainly in West Bengal, Assam and Bihar, which account for 95 per cent of the country’s jute production.  The government in the Budget for 2018-19 had announced fixing MSPs at 1.5 times the cost of production for various crops.  The Jute Corporation of India would continue to act as central nodal agency to undertake price support operations at the MSP in jute growing states. About MSP  Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices.  The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).  In formulating the recommendations in respect of the level of minimum support prices and other non-price measures, the CACP takes into account a comprehensive view of the entire structure of the economy of a particular commodity or group of commodities.  Other Factors include cost of production, changes in input prices, input-output price parity, trends in market prices, demand and supply, inter-crop price parity, effect on industrial cost structure, www.edutap.co.in

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effect on cost of living, effect on general price level, international price situation, parity between prices paid and prices received by the farmers and effect on issue prices and implications for subsidy About CACP  In recognition of the importance of assuring reasonable produce prices to the farmers, motivating them to adopt improved technology and to promote investment by them in farm enterprises, the Agricultural Prices Commission (renamed as the Commission for Agricultural Costs and Prices in 1985) was established in 1965 for advising the Government on agricultural prices policy on a continuing basis.  It is an attached office of the Ministry of Agriculture and Farmers Welfare, Government of India.  Padma Shri Ashok Gulati served as chairman of the CACP from 2011 to 2014. Prof. Vijaya Paul Sharma is currently chairman.

38 Government signs loan agreement with World Bank for Innovate in India for Inclusiveness Project  A Loan Agreement for IBRD credit of US$ 125 (equivalent) for the “Innovate in India for Inclusiveness Project” was signed with the World Bank on 24th April, 2018.  The Objectives of the project is to nurture indigenous innovation, foster local product development and accelerate commercialization process by bridging critical skill and infrastructure gaps to promote affordable and innovative healthcare products generation for inclusive development and increasing competitiveness in India.

39 Government to tie up with US and Finland to jointly develop new pollutionforecast system  India is tying up with the United States and Finland to develop a pollution-forecast system that will help anticipate particulate matter (PM) levels at least two days in advance and at a greater resolution than what is possible now.  The Ministry of Earth Sciences (MoES) will be coordinating this exercise.  Currently, the System of Air Quality and Weather Forecasting and Research (SAFAR), run out of the Indian Institute of Tropical Meteorology, Pune, serves as the apex forecaster of pollution trends in Delhi, Mumbai, Pune and Ahmedabad.  It generates a likely air quality profile, a day in advance, for these cities.  SAFAR monitors pollutants like PM1, PM2.5, PM10, NOx (NO, NO2), CO, Ozone, SO2, BC, Methane (CH4), Non-methane hydrocarbons (NMHC), Benzene, VOC’s, Mercury.  IITM is an organisation under the MoES.  The new system, to be jointly developed with expertise from the Finnish Meteorological Institute and the U.S.’ National Oceanic and Atmospheric Administration, will use a different modelling approach as well as computational techniques from that employed in the SAFAR model.

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 Union Environment Ministry has also released a draft of the National Clean Air Programme (NCAP) that aims to improve air quality monitoring in India by increasing the number of pollution monitoring stations and, incorporating it into a pollution forecast system. About National Clean Air Programme:

 National Clean Air Programme (NCAP)-India is a national level strategy for reduction in air pollution levels at both regional and urban scales.  Goal of NCAP is to meet the prescribed annual average ambient air quality standards at all locations in the country in a stipulated timeframe.  There are many ongoing government initiatives like National Air Quality Monitoring Programme, National Ambient Air Quality Standards, National Air Quality Index, Forty two action point, Environment Pollution (Prevention and Control) Authority, Graded Response Action Plan, etc.  However, there are gaps in the ongoing government initiatives and existing air pollution status, the need is felt for augmentation of our efforts towards mitigation of air pollution in mission mode. Comprehensive strategy in NCAP is being envisaged to plug the gaps in maintenance of air quality in the country.

40 Government inks $210 million loan agreement with World Bank for Madhya Pradesh Rural Connectivity Project  The Government of India, the Government of Madhya Pradesh and the World Bank have signed a 210 million dollar loan agreement for the Madhya Pradesh Rural Connectivity Project.  The project is expected to improve the durability, resilience, and safety of the gravel-surfaced rural roads and enhance the capacity of the state to manage its rural roads network.  The new joint project will cover 10,510 km stretch of rural roads in Madhya Pradesh that fall under the Chief Minister's Gram Sadak Yojana (CMGSY) programme.  Of this, 10,000 km will be upgraded from existing gravel to bituminous surface roads, while 510 km of new roads will be built to the same bituminous surface standard.  The project will undertake resilience measures such as surface sealing of roads, embankment pitching and balancing culverts to prevent damages caused by extreme flood events. www.edutap.co.in

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 It will enhance rural road connectivity in state which will open up opportunities for economic development and access to social services for beneficiary communities in the state and help in reducing poverty.  The project will focus on improving road safety by collecting accident data and analysing it at central and state levels through implementation of Road Accident Database Management System (RADMS) and strengthen road safety capacity at central level and focus on training.  This project, on a pilot basis, will engage women self-help groups (SHG) in the post-construction maintenance activity.

41 25 April: World Malaria Day

 World Malaria Day (WMD) is an international observance commemorated every year on 25 April and recognizes global efforts to control malaria.  World Malaria Day sprung out of the efforts taking place across the African continent to commemorate Africa Malaria Day.  WMD is one of eight official global public health campaigns currently marked by the World Health Organization (WHO), along with World Health Day, World Blood Donor Day, World Immunization Week, World Tuberculosis Day, World No Tobacco Day, World Hepatitis Day and World AIDS Day.  Each World Malaria Day focuses on a specific theme. Current and past themes include the following: World Malaria Day 2018: "Ready to beat malaria" World Malaria Day 2016-2017: "End Malaria For Good"  According to the 2017 World Malaria Report, the present global response to the disease is at a fix.  The report states that after an exceptional success in the past years, the progress in malaria control around the world has stalled.  Moreover, the present pace of progress is insufficient to achieve the 2020 milestones of the WHO Global Technical Strategy for Malaria, where the targets call for a 40 per cent reduction in malaria case incidence and death rates. About Malaria:  The disease is caused by the Plasmodium parasites, which is spread to people through the bite of an infected female Anopheles mosquito, also known as malaria vectors. www.edutap.co.in

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 While there are a total of five parasite species that cause malaria in humans, two of those — P falciparum and P vivax — pose the greatest threat.

42 PM Narendra Modi launches Rashtriya Gram Swaraj Abhiyan  The Cabinet Committee on Economic Affairs has given its approval for restructured Centrally Sponsored Scheme of Rashtriya Gram Swaraj Abhiyan (RGSA).  The Scheme will be implemented during the period from 01.04.2018 to 31.03.2022 at the total cost of Rs. 7255.50 crore with the Central Share of Rs. 4500 crore and that of State Share of Rs. 2755.50 crore.  This scheme will extend to all States and UTs of the Country and will also include institutions of rural local government in non-Part IX areas, where Panchayats do not exist.  The implementation and monitoring of the activities of the scheme will broadly be aligned for achieving the Sustainable Development Goals (SDGs) with main thrust on Panchayats identified under Mission Antyodaya and 115 Aspirational districts as identified by NITI Aayog.  The approved scheme of RGSA will help more than 2.55 lakh Panchayati Raj Institutions (PRIs) to develop governance capabilities to deliver on SDGs through inclusive local governance with focus on optimum utilisation of available resources.

Background:  The Finance Minister, in his budget speech for 2016-17, announced the launch of new restructured scheme of Rashtriya Gram Swaraj Abhiyan (RGSA), for developing governance capabilities of Panchayati Raj Institutions (PRIs) to deliver on the Sustainable Development Goals (SDGs).  A Committee under the Chairmanship of the Vice Chairman-NITI Aayog was then constituted to restructure the existing scheme of this Ministry as Rashtriya Gram Swaraj Abhiyan.  In his Budget Speech for 2017-18, the Finance Minister announced to undertake a Mission Antyodaya to bring one crore households out of poverty to make 50,000 Gram Panchayats poverty free. www.edutap.co.in

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 Accordingly, convergent action with Mission Antyodaya has been integrated into this scheme. About Mission Antyodaya:  In India, 8.88 crore households are found to be deprived and poor households as per Socio Economic Caste Census (SECC) of 2011 from the perspective of multi-dimensional deprivations such as shelterlessness, landlessness, households headed by single women, SC/ST household or disabled member in the family.  These households require targeted interventions under government’s various schemes and programmes in areas such as wage creation, skill generation, social security, education, health, nutrition and livelihood creation.  In this context, ‘Mission Antyodaya’ seeks to converge government interventions with Gram Panchayats as the basic unit for planning by following a saturation approach by pooling resources - human and financial - to ensure sustainable livelihoods  A Gram Panchayat is the basic unit for monitoring transformation and for ranking on the basis of objective criteria.  Given the diverse size of Gram Panchayats, 5,000 Clusters comprising of nearly 50,000 Gram Panchayats have been selected by the States purposively for implementing the 'Mission Antyodaya' Framework.  In partnership with State Governments, Department of Rural Development in Dec 2017 completed the ranking of 50,000 Gram Panchayats on parameters of physical infrastructure, human development and economic activities.  This ranking provided a baseline on physical infrastructure, human development and economic activities. The progress over the years would be monitored both at the level of Households and Gram Panchayats to see the change, that would be brought through interventions over the next 1000 days.

43 24 April: National Panchayati Raj Day  National Panchayati Raj Day (National Local Self-Government day) is the national day of India celebrated by Ministry of Panchayati Raj on 24 April annually.  The Constitution (73rd Amendment) Act, 1992 that came into force with effect from 24th April, 1993 has vested constitutional status on Panchayati Raj institutions. This date thus marks a defining moment in the history of decentralization of political power to the grassroots level.  Accordingly, the Government of India decided in consultation with the States to celebrate 24th April as National Panchayati Raj Day. About 73rd Amendment 1992:  The 73rd Amendment 1992 added a new Part IX to the constitution titled “The Panchayats” covering provisions from Article 243 to 243(O); and a new Eleventh Schedule covering 29 subjects within the functions of the Panchayats. www.edutap.co.in

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 It implemented Article 40 of DPSP which says that “State shall take steps to organise village panchayats and endow them with such powers and authority as may be necessary to enable them to function as units of self-government.”

44 India highest recipient of Remittances in 2017: World Bank  According to recently released Migration and Development Brief by World Bank, India topped as the highest recipient of remittances globally in 2017, with its diaspora sending back $69 billion.  Remittances to India picked up sharply by 9.9 per cent in 2017, reversing the previous year's dip, but were still short of USD 70.4 billion received in 2014.  China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion) followed India. About Migration and Development Brief:  Migration and Development Briefs are prepared by the Migration and Remittances Unit, Development Economics (DEC).  The brief aims to provide an update on key developments in the area of migration and remittance flows and related policies over the past six months.  It also provides medium-term projections of remittance flows to developing countries.  A special topic is included in each brief.  The brief is produced twice a year.

45 Diu Smart City: First to run on 100% Renewable Energy during daytime  Diu Smart City has become the first city in India, that runs on 100% renewable energy during daytime setting a new benchmark for other cities to become clean and green.  Diu had been importing 73% of its power from Gujarat until last year.  It has now adopted a two-pronged approach whereby a 9 MW solar park spread over 50 hectares rocky barren land has been developed besides installing solar panels on the roof tops on 79 government buildings thereby generating 1.3 MW annually.

46 April 22: Earth Day    

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Earth Day is an annual event celebrated on April 22. Worldwide, various events are held to demonstrate support for environmental protection. It was first celebrated in 1970. Earth Day Network (EDN), the organization that leads Earth Day worldwide, has chosen as the theme for 2018 to End Plastic Pollution, including creating support for a global effort to eliminate primarily single-use plastics along with global regulation for the disposal of plastics. EDN’s End Plastic Pollution campaign includes four major components:

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Leading a grassroots movement to support the adoption of a global framework to regulate plastic pollution; Educating, mobilizing and activating citizens across the globe to demand that governments and corporations control and clean up plastic pollution; Educating people worldwide to take personal responsibility for plastic pollution by choosing to reduce, refuse, reuse, recycle and remove plastics and Promoting local government regulatory and other efforts to tackle plastic pollution.

Background:   

The concept of observing Earth Day was formally proposed by John McConnell at UNESCO conference on Environment in 1969. Later in 1971, a proclamation was signed to observe international Earth Day annually on the Vernal Equinox by UN Secretary-General U Thant. It was first celebrated in 1970, and since then it is celebrated every year in more than 193 countries.

47 Sunderban Reserve Forest to get Ramsar site status  

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West Bengal government has given its approval to the State Forest Department to apply for recognition under the Ramsar Convention. Being conferred the status of a wetland of international importance will not only be a matter of pride for the Sunderbans but also bring a lot of international scientific attention and intervention to the area. Sundarbans is vast contiguous mangrove forest ecosystem in the coastal region of Bay of Bengal spread across India and Bangladesh. It covers approximately 10,000 square kilometres of area of which 60% is in Bangladesh and remaining in India. It is located in delta region of Padma, Meghna and Brahmaputra river basins The Indian Sunderbans, with 2,114 sq. km. of mangrove forests, comprise almost 43% of the mangrove cover in the country according to a 2017 Forest Survey of India report. Other than the forests, home to about 100 Royal Bengal tigers, the creeks and river systems of the Sunderbans are also part of the reserve forest. Once conferred a Ramsar site status, it will be the largest protected wetland in the country.

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Wetlands: What are they?  Wetlands are transitional lands between terrestrial and aquatic eco-systems where water table is usually at or near surface or land is covered by shallow water.  It may be manmade or artificial.  They support rich biodiversity and provide wide range of ecosystem services such as water storage, aquifer recharge, water purification, flood mitigation, erosion control, act as carbon sinks and others. About the Ramsar Convention:  It is the intergovernmental treaty that provides the framework for the conservation and wise use of wetlands and their resources.  It came into force in 1975.  It also seeks to promote conservation and wise use of all wetlands through local, regional and national actions and international cooperation, as contribution towards achieving sustainable development throughout world. India related data:  India is a party to the Convention since 1982 and committed to the Ramsar approach of wise use of wetlands.  The Ministry of Environment, Forest and Climate Change is the nodal Ministry for wetlands conservation. www.edutap.co.in

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 According to National Disaster Management Authority, over 40 million hectares which means 12% of land in India is prone to floods and river erosion.  Wetlands in India account for 4.7% of the total geographical area.  India currently has 26 sites designated as Wetlands of International Importance (Ramsar Sites), with a surface area of 689,131 hectares. World Wetlands Day is celebrated every year on 2 February to raise global awareness about the value of wetlands for humanity and the planet. It also marks the adoption of the Ramsar Convention on Wetlands in 1971 in the Iranian city of Ramsar.

48 Cabinet approves ordinance for death penalty for child rapists  

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Union Cabinet has approved an ordinance to allow courts to pronounce the death penalty to those convicted of raping children up to 12 years of age. The criminal law amendment ordinance seeks to amend the Indian Penal Code (IPC), the Evidence Act, the Code of Criminal Procedure (CrPC) and the Protection of Children from Sexual Offences (POCSO) Act to introduce a new provision to sentence convicts of such crimes to death. The Ordinance also prescribes the minimum punishment in case of rape of women to increase from rigorous imprisonment of 7 years to 10 years, extendable to life imprisonment. In case of rape of a girl under 16 years, minimum punishment has been increased from 10 years to 20 years, extendable to imprisonment for rest of life, which means imprisonment till that person’s natural life. For speedy trial of rape cases, new fast track courts will be set up in consultation with States/UTs and High Courts. The ordinance also prescribes that there will be no provision for anticipatory bail for a person accused of rape or gang rape of a girl under 16 years. Existing provisions of the POCSO Act provide for life imprisonment, though after the Nirbhaya case in 2012 the Centre had introduced the death penalty in cases where a woman either dies or is left in a vegetative state after rape.

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49 Government to roll out Integrated Initiative for Prevention & Control of Viral Hepatitis     

The Health Ministry has decided to roll out an initiative for prevention and control of viral hepatitis. It will have a budget of more than 517 crore rupees for three years. Under the initiative, the ministry intends to scale up to 100 treatment and 665 testing centres over a period of next three years in all states. It is also proposed to establish 15 model treatment centres, which will function as referral centres for diagnosis and treatment of hepatitis C and assist in capacity building. Components such as surveillance, awareness generation, immunisation, safe blood, injection safety infection control, diagnosis of viral hepatitis, capacity building, research and monitoring would be addressed under the initiative.

Hepatitis is most often caused by a virus and most common types of viral hepatitis are Hepatitis A, Hepatitis B, and Hepatitis C. Viral hepatitis is recognised as a public health problem worldwide. India is committed to ending viral hepatitis by 2030.

50 First International SME Convention 2018 to be held in New Delhi

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The first International SME (Small, Medium Enterprises) convention will be held in New Delhi from 22ndto 24th April, 2018. It has been organised by Ministry of Micro, Small & Medium Enterprises. It aims to provide platform to allow Entrepreneur to Entrepreneur (E2E) exchange of ideas, free and fair business discussions, mutual sizing of opportunities and ways to address them.

51 India is now world’s sixth largest economy: IMF 

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India’s Gross Domestic Product (GDP), the worth of the economy, clocked in at $2.6 trillion for 2017, according to the database of the International Monetary Fund’s World Economic Outlook (WEO). India is now the world’s sixth largest economy, displacing France. The five economies ahead are the United States, China, Japan, Germany and United Kingdom.

Growth projections of India by IMF:

Growth projections of India by World Bank:

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52 April 19: World Liver Day   

World liver day is observed on every 19 April, to spread awareness about liver related disease. The 2018 theme for WLD is ‘Riding New Waves in Liver Diagnosis, Staging & Treatment’ According to WHO, liver diseases are the 10th most common cause of death in India.

53 e-SANAD portal and National Academic Depository integrated 

The Ministry of Human Resource Development (HRD) has launched integration of e-SANAD portal and NAD – National Academic Depository in a bid to make education system in India more transparent.

About e- Sanad: 

e-Sanad is aimed at online verification of the documents with an objective to extend contactless, cashless and paperless document attestation service to applicants in India as well as abroad.

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‘e-Sanad’ will initially be hosting school leaving certificates with the help of Central Board of Secondary Education (CBSE). Later on the portal will also cater to the documents from central universities. This initiative has been launched to eliminate middle men from the institutions. If anyone wants to get his/ her certificate attested he has to find a middleman first then bribe him for the attestation of the documents. The project was designed and being implemented by National Information Centre (NIC) in coordination with CBSE, States/UTs and Ministry of External Affairs in a phased manner.

About NAD:  

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The National Academic Depository (NAD) is aninter-operable digital store house of academic awards (degrees, diplomas, certificates, mark-sheets, etc.),available on 24 X 7 online mode. It provides a system for lodging, retrieval, authentication and verification of academic awards in digital format for students, academic institutions, boards, eligibility assessment bodies and other user/verifying entities like bank, employer companies, government agencies and academic institutions. It was launched on 9 July 2017 and comprises of two interoperable digital depositories viz. NSDL Database Management Limited (NDML) and CDSL Ventures Limited (CVL). These digital depositories have ensured hardware, network facilities and software of prescribed quality for smooth and secured operationalisation of NAD.

54 POSHAN Abhiyaan: 1st meeting of National Council on India’s Nutrition Challenges held in New Delhi The first meeting of National Council on India’s Nutrition Challenges under POSHAN Abhiyaan was held in New Delhi. About National Council on India’s Nutrition Challenges: It has been set up under POSHAN Abhiyaan is the apex body to formulate overall policies, guide and monitor all nutrition based schemes. The mandate of the Council is: 1. To provide policy directions to address India’s Nutrition Challenges through coordinated intersectoral action 2. To coordinate and review convergence among ministries 3. To review programmes for nutrition on a quarterly basis The Council will submit its report to the Prime Minister every six months. About POSHAN Abhiyaan: 

POSHAN Abhiyaan was launched on 8th March 2018 by the Prime Minister in Jhunjhunu.

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The Abhiyaan targets to reduce stunting, under-nutrition, anemia (among young children, women and adolescent girls) and reduce low birth weight by 2%, 2%, 3% and 2% per annum respectively. The target of the mission is to bring down stunting among children in the age group 0-6 years from 38.4% to 25% by 2022.

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Stunting: 

It is defined as the percentage of children, aged 0 to 59 months, whose height for age is below minus two standard deviations (moderate and severe stunting) and minus three standard deviations (severe stunting) from the median of the WHO Child Growth Standards.

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In India, 38 per cent of children younger than five years of age are stunted, a manifestation of chronic undernutrition.

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Stunting and other forms of under-nutrition are thought to be responsible for nearly half of all child deaths globally.

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Stunting is associated with an underdeveloped brain, with long-lasting harmful consequences, including diminished mental ability and learning capacity, poor school performance in childhood, reduced earnings and increased risks of nutrition-related chronic diseases, such as diabetes, hypertension, and obesity in future.

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55 India expected to grow at 7.4% in 2018: IMF

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The International Monetary Fund (IMF) in its latest World Economic Outlook (WEO) has projected India to grow at 7.4% in 2018 and 7.8% in 2019. (See the image above) It also held that India will again emerge as world’s fastest-growing major economy at least for the next two years (2019 and 2020).

56 Government launches first tranche of Sovereign gold bonds for FY19

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The Government of India, in consultation with the Reserve Bank of India, has decided to issue sovereign gold bond, 2018-19-Series-I. The sovereign gold bond 2018-19, Series-I, will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices and recognised stock exchanges namely the NSE and BSE. Under the scheme, the bonds are denominated in units of one gram of gold and multiples thereof.

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Minimum investment in the bonds is one gram with a maximum limit of subscription of 500 grams per person per fiscal year (April-March). The maximum limit of subscription would be 4 kg for individual and HUF and 20 kg for trusts and similar entities per fiscal (April-March) notified by the government from time to time. The investors will be compensated at a fixed rate of 2.50 per cent per annum payable semiannually on the nominal value. The bonds can be used as collateral for loans. The loan-to-value ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time. While the interest is taxable, investors have been exempted from any tax on capital gains from redemption of such gold bonds. The indexation benefits will be provided to long-term capital gains arising to any person on transfer of bond. Bonds will be tradable on bourses within a fortnight of the issuance, on a date to be notified by the RBI. The sovereign gold bond, gold monetisation scheme and Indian gold coin were launched by Prime Minister Narendra Modi in late 2015, as the government wanted to discourage import of the precious metal and curb its damaging impact on trade balance.

57 FIEO GlobalLinker: Government launches digital platform for MSME Exporters

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The Ministry of Commerce & Industry has launched FIEO GlobalLinker- a digital platform for MSME exporters to digitise their businesses and join a global community of growing businesses. This initiative will help in expanding India's multi-focused export strategy and also aid in connecting art and artisans to the market. FIEO GlobalLinker is setup with a view to make the business growth of SMEs simpler, more profitable and enjoyable. It is a growing global network currently comprising over 140,000 SME firms, who are seeking business collaboration and growth opportunities through the use of their electronic business card and digital profiles created on the platform. FIEO is available free of cost and it offers exporters a range of features and benefits like: Business Opportunities: Exporters will be able to find clients, suppliers and advisors using the search and review facilities. Creating a free e-commerce store for direct sales and improved chain management.

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Up-to-date Business Knowledge through business articles, industry news and common interest groups. Improved Efficiencies: Platform provides services like company intranet, integrating email, a business calendar. FIEO's Services: Application for new RCMC/endorsement/renewal/participation in FIEO's promotional programme and alerts.

58 India will grow at 7.3% in 2018: World Bank Report

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The World Bank in its twice-a-year South Asia Economic Focus report has projected growth rate of 7.3% for India in 2018 and 7.5% for 2019 and 2020. The growth is expected to accelerate from 6.7% in 2017 to 7.3% in 2018 and to subsequently stabilise supported by sustained recovery in private investment and private consumption.

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