News in Shorts: July 2021 Current Affair Current Affairs Notes | EduRev

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Current Affairs : News in Shorts: July 2021 Current Affair Current Affairs Notes | EduRev

 Page 1


 
91                                                                                                                                                        
11. NEWS IN SHORTS 
11.1. WEST BENGAL ASSEMBLY 
PASSES RESOLUTION TO SET UP 
LEGISLATIVE COUNCIL 
• Legislative Council (LC) is the upper house in the 
state and like the Rajya Sabha, it is a permanent 
House. 
o The members of the Council are either 
nominated by the Governor of the state or 
are indirectly elected.  
o Tenure of the members of the council is six 
years, and a third of the members of the 
House retire after every two years. 
o Eligibility criteria: Indian citizen who is at least 
30 years of age; a person cannot 
simultaneously be a Member of Parliament 
and State legislature. 
• Article 169 of the Constitution empowers the 
Legislative Assembly to create or abolish a 
Legislative Council by passing a resolution.  
o Also under Article 171, LC cannot have more 
than one-third of the number of MLAs in the 
state, and not less than 40 members. (Total 
number of members in LC of a State shall not 
exceed one-third of the total number of 
members in the Legislative Assembly of that 
State, provided that total number of members 
in LC shall in no case be less than forty.) 
o The resolution has to be passed by two-thirds 
of the Assembly members. 
o Then a Bill to this effect has to be passed by 
Parliament. 
• At present six states namely Bihar, Uttar Pradesh, 
Maharashtra, Andhra Pradesh, Telangana and 
Karnataka have a Legislative Council. 
• Composition of LC  
o 1/3rd are elected by the Legislative Assembly.  
o 1/3rd are elected by the local bodies like a 
municipality or other local authorities.  
o 1/12th are elected by graduates.  
o 1/12th are elected by teachers.  
o 1/6th are nominated by the Governor.  
11.2. CABINET APPROVES CONTINUATION OF THREE SCHEMES 
Scheme Objective  Benefits 
National 
Mission for 
Justice 
Delivery and 
Legal 
Reforms 
(Extended till 
March 2026) 
• A centrally sponsored scheme launched in 1993-94 to 
augment state resources and develop infrastructural facilities 
for subordinate judiciary such as, Court buildings, Digital 
Computer Rooms etc. 
? The upgraded “Nyaya Vikas-2.0” web portal and mobile 
application is used for monitoring physical and financial 
progress of the scheme. 
• Cabinet also approved Rs 50 crore for Gram Nyayalayas 
infrastructure, established under the Gram Nyayalayas Act, 
2008 for speedy and easy access to the justice system in the 
rural areas of India. 
• Improve digital capabilities and give 
impetus to the digitization initiation. 
• Improve the overall functioning and 
performance of the Judiciary. 
• Continued assistance to the Gram 
Nyayalayas will give impetus to 
providing speedy, substantial and 
affordable justice to the common 
man at his door step. 
Rebate of 
State and 
Central taxes 
and 
Levies(RoSCT
L- Extended 
till March 
2024) 
? Rebate of State Levies (ROSL) was launched in 2016 under which 
exporters of apparel, garment and made-ups were refunded 
embedded taxes and levies. 
? In 2019, new scheme named RoSCTL was brought whereby 
exporters are issued a Duty Credit Scrip for the value of embedded 
taxes and levies contained in the exported product. 
? Exporters can use this scrip to pay basic Customs duty for 
import of equipment, machinery or any other input. 
• Ensure stable and predictable policy 
regime for next 3 years 
• Increased export competitiveness 
against LDC nations or FTAs between 
nations 
• promotion of startups and 
entrepreneurship 
• Help in Job Creation 
National 
AYUSH 
Mission 
(Extended till 
March 2026) 
A centrally sponsored scheme launched in 2014 to- 
• Promote AYUSH medical systems through cost effective 
AYUSH services,  
• Strengthen institutional capacities of educational systems, 
pharmacies, laboratories etc. 
• Facilitate the enforcement of quality control and sustainable 
availability of ASU & H raw-materials and drugs. 
• Better access to AYUSH healthcare 
services  
• Improvement in AYUSH education. 
• To focus on reducing 
communicable/non-communicable 
diseases using AYUSH systems of 
healthcare. 
 
Page 2


 
91                                                                                                                                                        
11. NEWS IN SHORTS 
11.1. WEST BENGAL ASSEMBLY 
PASSES RESOLUTION TO SET UP 
LEGISLATIVE COUNCIL 
• Legislative Council (LC) is the upper house in the 
state and like the Rajya Sabha, it is a permanent 
House. 
o The members of the Council are either 
nominated by the Governor of the state or 
are indirectly elected.  
o Tenure of the members of the council is six 
years, and a third of the members of the 
House retire after every two years. 
o Eligibility criteria: Indian citizen who is at least 
30 years of age; a person cannot 
simultaneously be a Member of Parliament 
and State legislature. 
• Article 169 of the Constitution empowers the 
Legislative Assembly to create or abolish a 
Legislative Council by passing a resolution.  
o Also under Article 171, LC cannot have more 
than one-third of the number of MLAs in the 
state, and not less than 40 members. (Total 
number of members in LC of a State shall not 
exceed one-third of the total number of 
members in the Legislative Assembly of that 
State, provided that total number of members 
in LC shall in no case be less than forty.) 
o The resolution has to be passed by two-thirds 
of the Assembly members. 
o Then a Bill to this effect has to be passed by 
Parliament. 
• At present six states namely Bihar, Uttar Pradesh, 
Maharashtra, Andhra Pradesh, Telangana and 
Karnataka have a Legislative Council. 
• Composition of LC  
o 1/3rd are elected by the Legislative Assembly.  
o 1/3rd are elected by the local bodies like a 
municipality or other local authorities.  
o 1/12th are elected by graduates.  
o 1/12th are elected by teachers.  
o 1/6th are nominated by the Governor.  
11.2. CABINET APPROVES CONTINUATION OF THREE SCHEMES 
Scheme Objective  Benefits 
National 
Mission for 
Justice 
Delivery and 
Legal 
Reforms 
(Extended till 
March 2026) 
• A centrally sponsored scheme launched in 1993-94 to 
augment state resources and develop infrastructural facilities 
for subordinate judiciary such as, Court buildings, Digital 
Computer Rooms etc. 
? The upgraded “Nyaya Vikas-2.0” web portal and mobile 
application is used for monitoring physical and financial 
progress of the scheme. 
• Cabinet also approved Rs 50 crore for Gram Nyayalayas 
infrastructure, established under the Gram Nyayalayas Act, 
2008 for speedy and easy access to the justice system in the 
rural areas of India. 
• Improve digital capabilities and give 
impetus to the digitization initiation. 
• Improve the overall functioning and 
performance of the Judiciary. 
• Continued assistance to the Gram 
Nyayalayas will give impetus to 
providing speedy, substantial and 
affordable justice to the common 
man at his door step. 
Rebate of 
State and 
Central taxes 
and 
Levies(RoSCT
L- Extended 
till March 
2024) 
? Rebate of State Levies (ROSL) was launched in 2016 under which 
exporters of apparel, garment and made-ups were refunded 
embedded taxes and levies. 
? In 2019, new scheme named RoSCTL was brought whereby 
exporters are issued a Duty Credit Scrip for the value of embedded 
taxes and levies contained in the exported product. 
? Exporters can use this scrip to pay basic Customs duty for 
import of equipment, machinery or any other input. 
• Ensure stable and predictable policy 
regime for next 3 years 
• Increased export competitiveness 
against LDC nations or FTAs between 
nations 
• promotion of startups and 
entrepreneurship 
• Help in Job Creation 
National 
AYUSH 
Mission 
(Extended till 
March 2026) 
A centrally sponsored scheme launched in 2014 to- 
• Promote AYUSH medical systems through cost effective 
AYUSH services,  
• Strengthen institutional capacities of educational systems, 
pharmacies, laboratories etc. 
• Facilitate the enforcement of quality control and sustainable 
availability of ASU & H raw-materials and drugs. 
• Better access to AYUSH healthcare 
services  
• Improvement in AYUSH education. 
• To focus on reducing 
communicable/non-communicable 
diseases using AYUSH systems of 
healthcare. 
 
 
92                                                                                                                                                        
11.3. INDIA-US RENEW GLOBAL 
DEVELOPMENT PARTNERSHIP DEAL 
FOR 5 YEARS 
• India and the US renewed a global development 
partnership agreement that provides for jointly 
offering assistance to their partner countries. 
o Both sides signed amendment to the 
Statement of Guiding Principles (SGP) on 
Triangular Cooperation for Global 
Development, extending the pact's validity up 
to 2026. 
o Feed The Future India Triangular Training 
Program (FTF ITT) for Africa is an example of a 
project under this. 
o The SGP agreement was initially signed in 
2014and renewed in 2019 till 2021. 
• Triangular cooperation 
o Triangular cooperation involves three actors 
(see infographic), two from the South 
(Facilitating and Beneficiary partner) and one 
from the North (pivotal partner). The latter 
can also be an international multilateral 
organization. 
o The division of “North” and “South” is used 
to refer to the social, economic and political 
differences that exist between developed 
countries (North) and developing countries 
(South). 
• India’s other triangular Cooperation examples 
o India-Japan Cooperation: Asia–Africa Growth 
Corridor (AAGC). 
o The India–Triangular in the form of project 
called “Supporting India’s Trade Preferences 
for Africa” (SITA), funded by the DFID (UK’s 
Department for International Development). 
 
11.4. 3RD ARCTIC SCIENCE 
MINISTERIAL 
• The 3
rd
 Arctic Science Ministerial (ASM3) meeting 
was jointly organised by Iceland and Japan, for 
discussing research and cooperation in the Arctic.  
• The meeting has been designed to provide 
opportunities to various stakeholders, including 
academia, indigenous communities, governments 
and policymakers, to  
o Enhance collective understanding of the Arctic 
region,  
o Emphasize and engage in constant 
monitoring, and  
o Strengthen observations.  
• The theme for this year was ‘Knowledge for a 
Sustainable Arctic’. 
• The first two meetings—ASM1 and ASM2—were 
held in the USA in 2016 and Germany in 2018. 
• India participated in the meeting and shared its 
plans to contribute observing systems in the 
Arctic, both in-situ and by remote sensing.  
o India would deploy open ocean mooring in 
the Arctic for long-term monitoring of upper 
ocean variables and marine meteorological 
parameters. 
o India also plans to launch NISAR (NASA-ISRO 
Synthetic Aperture Radar) satellite by 2023, a 
joint ISRO-NASA mission, for global 
observations over all land masses including 
Polar cryo-sphere and Indian Ocean region. 
11.5. MEKONG-GANGA COOPERATION 
(MGC) 
• India’s Foreign Minister during the 11th MGC 
meeting said that India is seeking a multi-
dimensional engagement with the Mekong 
region. 
o India also called for a "collective and 
collaborative" response to effectively deal 
with coronavirus pandemic. 
• The MGC initiative comprising six countries — 
India, Cambodia, Myanmar, Thailand, Laos and 
Vietnam — was launched in 2000 to boost 
cooperation in a range of areas including 
connectivity, education, tourism and culture. 
 
11.6. INDIA COVID 19 EMERGENCY 
RESPONSE AND HEALTH SYSTEMS 
PREPAREDNESS PACKAGE: PHASE II 
• This new scheme was approved by Union Cabinet 
at a cost of Rs 23,123 crore for FY 2021-22. 
Page 3


 
91                                                                                                                                                        
11. NEWS IN SHORTS 
11.1. WEST BENGAL ASSEMBLY 
PASSES RESOLUTION TO SET UP 
LEGISLATIVE COUNCIL 
• Legislative Council (LC) is the upper house in the 
state and like the Rajya Sabha, it is a permanent 
House. 
o The members of the Council are either 
nominated by the Governor of the state or 
are indirectly elected.  
o Tenure of the members of the council is six 
years, and a third of the members of the 
House retire after every two years. 
o Eligibility criteria: Indian citizen who is at least 
30 years of age; a person cannot 
simultaneously be a Member of Parliament 
and State legislature. 
• Article 169 of the Constitution empowers the 
Legislative Assembly to create or abolish a 
Legislative Council by passing a resolution.  
o Also under Article 171, LC cannot have more 
than one-third of the number of MLAs in the 
state, and not less than 40 members. (Total 
number of members in LC of a State shall not 
exceed one-third of the total number of 
members in the Legislative Assembly of that 
State, provided that total number of members 
in LC shall in no case be less than forty.) 
o The resolution has to be passed by two-thirds 
of the Assembly members. 
o Then a Bill to this effect has to be passed by 
Parliament. 
• At present six states namely Bihar, Uttar Pradesh, 
Maharashtra, Andhra Pradesh, Telangana and 
Karnataka have a Legislative Council. 
• Composition of LC  
o 1/3rd are elected by the Legislative Assembly.  
o 1/3rd are elected by the local bodies like a 
municipality or other local authorities.  
o 1/12th are elected by graduates.  
o 1/12th are elected by teachers.  
o 1/6th are nominated by the Governor.  
11.2. CABINET APPROVES CONTINUATION OF THREE SCHEMES 
Scheme Objective  Benefits 
National 
Mission for 
Justice 
Delivery and 
Legal 
Reforms 
(Extended till 
March 2026) 
• A centrally sponsored scheme launched in 1993-94 to 
augment state resources and develop infrastructural facilities 
for subordinate judiciary such as, Court buildings, Digital 
Computer Rooms etc. 
? The upgraded “Nyaya Vikas-2.0” web portal and mobile 
application is used for monitoring physical and financial 
progress of the scheme. 
• Cabinet also approved Rs 50 crore for Gram Nyayalayas 
infrastructure, established under the Gram Nyayalayas Act, 
2008 for speedy and easy access to the justice system in the 
rural areas of India. 
• Improve digital capabilities and give 
impetus to the digitization initiation. 
• Improve the overall functioning and 
performance of the Judiciary. 
• Continued assistance to the Gram 
Nyayalayas will give impetus to 
providing speedy, substantial and 
affordable justice to the common 
man at his door step. 
Rebate of 
State and 
Central taxes 
and 
Levies(RoSCT
L- Extended 
till March 
2024) 
? Rebate of State Levies (ROSL) was launched in 2016 under which 
exporters of apparel, garment and made-ups were refunded 
embedded taxes and levies. 
? In 2019, new scheme named RoSCTL was brought whereby 
exporters are issued a Duty Credit Scrip for the value of embedded 
taxes and levies contained in the exported product. 
? Exporters can use this scrip to pay basic Customs duty for 
import of equipment, machinery or any other input. 
• Ensure stable and predictable policy 
regime for next 3 years 
• Increased export competitiveness 
against LDC nations or FTAs between 
nations 
• promotion of startups and 
entrepreneurship 
• Help in Job Creation 
National 
AYUSH 
Mission 
(Extended till 
March 2026) 
A centrally sponsored scheme launched in 2014 to- 
• Promote AYUSH medical systems through cost effective 
AYUSH services,  
• Strengthen institutional capacities of educational systems, 
pharmacies, laboratories etc. 
• Facilitate the enforcement of quality control and sustainable 
availability of ASU & H raw-materials and drugs. 
• Better access to AYUSH healthcare 
services  
• Improvement in AYUSH education. 
• To focus on reducing 
communicable/non-communicable 
diseases using AYUSH systems of 
healthcare. 
 
 
92                                                                                                                                                        
11.3. INDIA-US RENEW GLOBAL 
DEVELOPMENT PARTNERSHIP DEAL 
FOR 5 YEARS 
• India and the US renewed a global development 
partnership agreement that provides for jointly 
offering assistance to their partner countries. 
o Both sides signed amendment to the 
Statement of Guiding Principles (SGP) on 
Triangular Cooperation for Global 
Development, extending the pact's validity up 
to 2026. 
o Feed The Future India Triangular Training 
Program (FTF ITT) for Africa is an example of a 
project under this. 
o The SGP agreement was initially signed in 
2014and renewed in 2019 till 2021. 
• Triangular cooperation 
o Triangular cooperation involves three actors 
(see infographic), two from the South 
(Facilitating and Beneficiary partner) and one 
from the North (pivotal partner). The latter 
can also be an international multilateral 
organization. 
o The division of “North” and “South” is used 
to refer to the social, economic and political 
differences that exist between developed 
countries (North) and developing countries 
(South). 
• India’s other triangular Cooperation examples 
o India-Japan Cooperation: Asia–Africa Growth 
Corridor (AAGC). 
o The India–Triangular in the form of project 
called “Supporting India’s Trade Preferences 
for Africa” (SITA), funded by the DFID (UK’s 
Department for International Development). 
 
11.4. 3RD ARCTIC SCIENCE 
MINISTERIAL 
• The 3
rd
 Arctic Science Ministerial (ASM3) meeting 
was jointly organised by Iceland and Japan, for 
discussing research and cooperation in the Arctic.  
• The meeting has been designed to provide 
opportunities to various stakeholders, including 
academia, indigenous communities, governments 
and policymakers, to  
o Enhance collective understanding of the Arctic 
region,  
o Emphasize and engage in constant 
monitoring, and  
o Strengthen observations.  
• The theme for this year was ‘Knowledge for a 
Sustainable Arctic’. 
• The first two meetings—ASM1 and ASM2—were 
held in the USA in 2016 and Germany in 2018. 
• India participated in the meeting and shared its 
plans to contribute observing systems in the 
Arctic, both in-situ and by remote sensing.  
o India would deploy open ocean mooring in 
the Arctic for long-term monitoring of upper 
ocean variables and marine meteorological 
parameters. 
o India also plans to launch NISAR (NASA-ISRO 
Synthetic Aperture Radar) satellite by 2023, a 
joint ISRO-NASA mission, for global 
observations over all land masses including 
Polar cryo-sphere and Indian Ocean region. 
11.5. MEKONG-GANGA COOPERATION 
(MGC) 
• India’s Foreign Minister during the 11th MGC 
meeting said that India is seeking a multi-
dimensional engagement with the Mekong 
region. 
o India also called for a "collective and 
collaborative" response to effectively deal 
with coronavirus pandemic. 
• The MGC initiative comprising six countries — 
India, Cambodia, Myanmar, Thailand, Laos and 
Vietnam — was launched in 2000 to boost 
cooperation in a range of areas including 
connectivity, education, tourism and culture. 
 
11.6. INDIA COVID 19 EMERGENCY 
RESPONSE AND HEALTH SYSTEMS 
PREPAREDNESS PACKAGE: PHASE II 
• This new scheme was approved by Union Cabinet 
at a cost of Rs 23,123 crore for FY 2021-22. 
 
93                                                                                                                                                        
o Phase 1 of the scheme was launched in March 
2020 with Rs. 15,000 croreoutlay. 
• It has two components: 
Central Sector (CS) 
components (Funding and 
execution both borne by 
Centre) 
Centrally Sponsored 
Schemes (CSS) components 
(jointly funded by Centre 
and States but executed by 
States) 
• Support to Central 
Hospitals for 
repurposing beds for 
COVID management.  
• National Centre for 
Disease Control would 
be strengthened by 
providing Genome 
Sequencing machines 
etc. 
• Support for 
implementation of 
Hospital Management 
Information System in 
all the District 
Hospitals of the 
Country. 
• Support for expanding 
National Architecture 
of eSanjeevani Tele-
consultation platform 
to provide upto 5 lakhs 
tele-consultations per 
day (present 50,000 
Tele-consultations per 
day).  
• IT interventions, 
including strengthening 
COVID-19 Portal etc. 
• Create Paediatric units 
in all 736 districts and 
to establish Paediatric 
Centre of Excellence in 
each State/UT. 
• Creating pre-fabricated 
structures for adding 
additional beds at 
existing CHCs, PHCs 
and SHCs. 
• Install Liquid Medical 
Oxygen Storage tanks, 
Augment the existing 
feet of ambulances, 
support to districts for 
essential medicines for 
COVID-19 management 
etc. 
• Engage Undergraduate 
and post graduate 
medical interns and 
final year students for 
effective COVID 
management. 
11.7. MODIFICATIONS IN CENTRAL 
SECTOR SCHEME OF FINANCING 
FACILITY UNDER AGRICULTURE 
INFRASTRUCTURE FUND (AIF) 
• Launched in 2020 to deal with the Covid crisis, the 
AIF scheme for financing viable projects related to 
postharvest management infrastructure and 
community farming assets. 
o The duration of the scheme is 10 years. 
o Under the scheme, Rs. 1 Lakh Crore will be 
provided by banks and financial institutions 
as loans with interest subvention of 3% per 
annum and credit guarantee coverage for 
loans up to Rs. 2 Crores. 
• Now the government has made the following 
modifications 
o Inclusion of State agencies/APMCs 
(Agricultural Produce Market Committee), 
National and State Cooperative Federations, 
Farmers Producers Organizations (FPOs) and 
Self Help Groups (SHGs) 
o Extension of the interest subvention scheme 
and loan guarantee for each project for a 
maximum of 25 such projects, provided they 
are at different places. 
o Overall period of the scheme has been 
extended to 13 years (up to 2032-33) 
• Significance: 
o APMCs can strengthen their infrastructure 
such as cold storages, processing plants etc.  
? Also it allays farmers' fear that APMC will 
be scrapped with the implementation of 
three agriculture laws. 
o SHGs and FPOs will bring more investment 
ensuring that benefits reach small and 
marginal farmers. 
11.8. REAL TIME GROSS SETTLEMENT 
(RTGS) & NATIONAL ELECTRONIC 
FUND TRANSFER (NEFT) PAYMENT 
SYSTEMS OPENED FOR NON-BANKS 
• The Reserve Bank of India (RBI) has allowed Non-
Banks (like Prepaid Payment Instrument issuers, 
card networks, White label ATM operators) to 
participate in its Centralized Payment Systems 
(CPS). 
o CPS in India comprise of Real Time Gross 
Settlement (RTGS) and National Electronic 
Funds Transfer (NEFT) systems, both owned 
and operated by the RBI. 
• Till now, only Banks were allowed to use both 
payment systems. 
o Apart from banks, very few select non-banks 
have been approved to participate in CPS- 
clearing corporations of stock exchanges, 
select financial institutions (NABARD, EXIM 
Bank) etc. 
• With it, Non-Banks will be allotted a separate 
Indian Financial System Code (IFSC); a current 
account will be opened with the RBI in its core 
banking system (e-Kuber); a settlement account 
maintained with the RBI etc. 
• Advantages for non-banks 
o Reduction in cost of payments 
o Minimise dependence on banks 
o Reduce time taken for completing payments  
o Facilitate better settlement risk management  
o Ensure expanding access and participation of 
non-banks, leading to diversity and resiliency 
of the payments ecosystem etc. 
Page 4


 
91                                                                                                                                                        
11. NEWS IN SHORTS 
11.1. WEST BENGAL ASSEMBLY 
PASSES RESOLUTION TO SET UP 
LEGISLATIVE COUNCIL 
• Legislative Council (LC) is the upper house in the 
state and like the Rajya Sabha, it is a permanent 
House. 
o The members of the Council are either 
nominated by the Governor of the state or 
are indirectly elected.  
o Tenure of the members of the council is six 
years, and a third of the members of the 
House retire after every two years. 
o Eligibility criteria: Indian citizen who is at least 
30 years of age; a person cannot 
simultaneously be a Member of Parliament 
and State legislature. 
• Article 169 of the Constitution empowers the 
Legislative Assembly to create or abolish a 
Legislative Council by passing a resolution.  
o Also under Article 171, LC cannot have more 
than one-third of the number of MLAs in the 
state, and not less than 40 members. (Total 
number of members in LC of a State shall not 
exceed one-third of the total number of 
members in the Legislative Assembly of that 
State, provided that total number of members 
in LC shall in no case be less than forty.) 
o The resolution has to be passed by two-thirds 
of the Assembly members. 
o Then a Bill to this effect has to be passed by 
Parliament. 
• At present six states namely Bihar, Uttar Pradesh, 
Maharashtra, Andhra Pradesh, Telangana and 
Karnataka have a Legislative Council. 
• Composition of LC  
o 1/3rd are elected by the Legislative Assembly.  
o 1/3rd are elected by the local bodies like a 
municipality or other local authorities.  
o 1/12th are elected by graduates.  
o 1/12th are elected by teachers.  
o 1/6th are nominated by the Governor.  
11.2. CABINET APPROVES CONTINUATION OF THREE SCHEMES 
Scheme Objective  Benefits 
National 
Mission for 
Justice 
Delivery and 
Legal 
Reforms 
(Extended till 
March 2026) 
• A centrally sponsored scheme launched in 1993-94 to 
augment state resources and develop infrastructural facilities 
for subordinate judiciary such as, Court buildings, Digital 
Computer Rooms etc. 
? The upgraded “Nyaya Vikas-2.0” web portal and mobile 
application is used for monitoring physical and financial 
progress of the scheme. 
• Cabinet also approved Rs 50 crore for Gram Nyayalayas 
infrastructure, established under the Gram Nyayalayas Act, 
2008 for speedy and easy access to the justice system in the 
rural areas of India. 
• Improve digital capabilities and give 
impetus to the digitization initiation. 
• Improve the overall functioning and 
performance of the Judiciary. 
• Continued assistance to the Gram 
Nyayalayas will give impetus to 
providing speedy, substantial and 
affordable justice to the common 
man at his door step. 
Rebate of 
State and 
Central taxes 
and 
Levies(RoSCT
L- Extended 
till March 
2024) 
? Rebate of State Levies (ROSL) was launched in 2016 under which 
exporters of apparel, garment and made-ups were refunded 
embedded taxes and levies. 
? In 2019, new scheme named RoSCTL was brought whereby 
exporters are issued a Duty Credit Scrip for the value of embedded 
taxes and levies contained in the exported product. 
? Exporters can use this scrip to pay basic Customs duty for 
import of equipment, machinery or any other input. 
• Ensure stable and predictable policy 
regime for next 3 years 
• Increased export competitiveness 
against LDC nations or FTAs between 
nations 
• promotion of startups and 
entrepreneurship 
• Help in Job Creation 
National 
AYUSH 
Mission 
(Extended till 
March 2026) 
A centrally sponsored scheme launched in 2014 to- 
• Promote AYUSH medical systems through cost effective 
AYUSH services,  
• Strengthen institutional capacities of educational systems, 
pharmacies, laboratories etc. 
• Facilitate the enforcement of quality control and sustainable 
availability of ASU & H raw-materials and drugs. 
• Better access to AYUSH healthcare 
services  
• Improvement in AYUSH education. 
• To focus on reducing 
communicable/non-communicable 
diseases using AYUSH systems of 
healthcare. 
 
 
92                                                                                                                                                        
11.3. INDIA-US RENEW GLOBAL 
DEVELOPMENT PARTNERSHIP DEAL 
FOR 5 YEARS 
• India and the US renewed a global development 
partnership agreement that provides for jointly 
offering assistance to their partner countries. 
o Both sides signed amendment to the 
Statement of Guiding Principles (SGP) on 
Triangular Cooperation for Global 
Development, extending the pact's validity up 
to 2026. 
o Feed The Future India Triangular Training 
Program (FTF ITT) for Africa is an example of a 
project under this. 
o The SGP agreement was initially signed in 
2014and renewed in 2019 till 2021. 
• Triangular cooperation 
o Triangular cooperation involves three actors 
(see infographic), two from the South 
(Facilitating and Beneficiary partner) and one 
from the North (pivotal partner). The latter 
can also be an international multilateral 
organization. 
o The division of “North” and “South” is used 
to refer to the social, economic and political 
differences that exist between developed 
countries (North) and developing countries 
(South). 
• India’s other triangular Cooperation examples 
o India-Japan Cooperation: Asia–Africa Growth 
Corridor (AAGC). 
o The India–Triangular in the form of project 
called “Supporting India’s Trade Preferences 
for Africa” (SITA), funded by the DFID (UK’s 
Department for International Development). 
 
11.4. 3RD ARCTIC SCIENCE 
MINISTERIAL 
• The 3
rd
 Arctic Science Ministerial (ASM3) meeting 
was jointly organised by Iceland and Japan, for 
discussing research and cooperation in the Arctic.  
• The meeting has been designed to provide 
opportunities to various stakeholders, including 
academia, indigenous communities, governments 
and policymakers, to  
o Enhance collective understanding of the Arctic 
region,  
o Emphasize and engage in constant 
monitoring, and  
o Strengthen observations.  
• The theme for this year was ‘Knowledge for a 
Sustainable Arctic’. 
• The first two meetings—ASM1 and ASM2—were 
held in the USA in 2016 and Germany in 2018. 
• India participated in the meeting and shared its 
plans to contribute observing systems in the 
Arctic, both in-situ and by remote sensing.  
o India would deploy open ocean mooring in 
the Arctic for long-term monitoring of upper 
ocean variables and marine meteorological 
parameters. 
o India also plans to launch NISAR (NASA-ISRO 
Synthetic Aperture Radar) satellite by 2023, a 
joint ISRO-NASA mission, for global 
observations over all land masses including 
Polar cryo-sphere and Indian Ocean region. 
11.5. MEKONG-GANGA COOPERATION 
(MGC) 
• India’s Foreign Minister during the 11th MGC 
meeting said that India is seeking a multi-
dimensional engagement with the Mekong 
region. 
o India also called for a "collective and 
collaborative" response to effectively deal 
with coronavirus pandemic. 
• The MGC initiative comprising six countries — 
India, Cambodia, Myanmar, Thailand, Laos and 
Vietnam — was launched in 2000 to boost 
cooperation in a range of areas including 
connectivity, education, tourism and culture. 
 
11.6. INDIA COVID 19 EMERGENCY 
RESPONSE AND HEALTH SYSTEMS 
PREPAREDNESS PACKAGE: PHASE II 
• This new scheme was approved by Union Cabinet 
at a cost of Rs 23,123 crore for FY 2021-22. 
 
93                                                                                                                                                        
o Phase 1 of the scheme was launched in March 
2020 with Rs. 15,000 croreoutlay. 
• It has two components: 
Central Sector (CS) 
components (Funding and 
execution both borne by 
Centre) 
Centrally Sponsored 
Schemes (CSS) components 
(jointly funded by Centre 
and States but executed by 
States) 
• Support to Central 
Hospitals for 
repurposing beds for 
COVID management.  
• National Centre for 
Disease Control would 
be strengthened by 
providing Genome 
Sequencing machines 
etc. 
• Support for 
implementation of 
Hospital Management 
Information System in 
all the District 
Hospitals of the 
Country. 
• Support for expanding 
National Architecture 
of eSanjeevani Tele-
consultation platform 
to provide upto 5 lakhs 
tele-consultations per 
day (present 50,000 
Tele-consultations per 
day).  
• IT interventions, 
including strengthening 
COVID-19 Portal etc. 
• Create Paediatric units 
in all 736 districts and 
to establish Paediatric 
Centre of Excellence in 
each State/UT. 
• Creating pre-fabricated 
structures for adding 
additional beds at 
existing CHCs, PHCs 
and SHCs. 
• Install Liquid Medical 
Oxygen Storage tanks, 
Augment the existing 
feet of ambulances, 
support to districts for 
essential medicines for 
COVID-19 management 
etc. 
• Engage Undergraduate 
and post graduate 
medical interns and 
final year students for 
effective COVID 
management. 
11.7. MODIFICATIONS IN CENTRAL 
SECTOR SCHEME OF FINANCING 
FACILITY UNDER AGRICULTURE 
INFRASTRUCTURE FUND (AIF) 
• Launched in 2020 to deal with the Covid crisis, the 
AIF scheme for financing viable projects related to 
postharvest management infrastructure and 
community farming assets. 
o The duration of the scheme is 10 years. 
o Under the scheme, Rs. 1 Lakh Crore will be 
provided by banks and financial institutions 
as loans with interest subvention of 3% per 
annum and credit guarantee coverage for 
loans up to Rs. 2 Crores. 
• Now the government has made the following 
modifications 
o Inclusion of State agencies/APMCs 
(Agricultural Produce Market Committee), 
National and State Cooperative Federations, 
Farmers Producers Organizations (FPOs) and 
Self Help Groups (SHGs) 
o Extension of the interest subvention scheme 
and loan guarantee for each project for a 
maximum of 25 such projects, provided they 
are at different places. 
o Overall period of the scheme has been 
extended to 13 years (up to 2032-33) 
• Significance: 
o APMCs can strengthen their infrastructure 
such as cold storages, processing plants etc.  
? Also it allays farmers' fear that APMC will 
be scrapped with the implementation of 
three agriculture laws. 
o SHGs and FPOs will bring more investment 
ensuring that benefits reach small and 
marginal farmers. 
11.8. REAL TIME GROSS SETTLEMENT 
(RTGS) & NATIONAL ELECTRONIC 
FUND TRANSFER (NEFT) PAYMENT 
SYSTEMS OPENED FOR NON-BANKS 
• The Reserve Bank of India (RBI) has allowed Non-
Banks (like Prepaid Payment Instrument issuers, 
card networks, White label ATM operators) to 
participate in its Centralized Payment Systems 
(CPS). 
o CPS in India comprise of Real Time Gross 
Settlement (RTGS) and National Electronic 
Funds Transfer (NEFT) systems, both owned 
and operated by the RBI. 
• Till now, only Banks were allowed to use both 
payment systems. 
o Apart from banks, very few select non-banks 
have been approved to participate in CPS- 
clearing corporations of stock exchanges, 
select financial institutions (NABARD, EXIM 
Bank) etc. 
• With it, Non-Banks will be allotted a separate 
Indian Financial System Code (IFSC); a current 
account will be opened with the RBI in its core 
banking system (e-Kuber); a settlement account 
maintained with the RBI etc. 
• Advantages for non-banks 
o Reduction in cost of payments 
o Minimise dependence on banks 
o Reduce time taken for completing payments  
o Facilitate better settlement risk management  
o Ensure expanding access and participation of 
non-banks, leading to diversity and resiliency 
of the payments ecosystem etc. 
 
94                                                                                                                                                        
 
11.9. RBI ISSUES ADVISORY FOR 
TRANSITION FROM LIBOR 
• Banks and other financial institutions have been 
asked for transitioning from London Interbank 
Offered Rate (LIBOR) by December 2021 to any 
widely accepted alternative reference rate (AAR) 
like AONIA (Australian Interbank Overnight Cash 
Rate) and SARON (Swiss Average Rate Overnight). 
o With demise of Libor, the Indian benchmark 
Mumbai Interbank Forward Outright Rate 
(MIFOR), which uses Libor as a benchmark, 
has to be scrapped too by December 2021. 
• LIBOR will be phased out by June 30, 2023. 
• About LIBOR 
o London Interbank Offered Rate (LIBOR) is a 
benchmark interest rate at which major 
global banks lend to one another in the 
international interbank market for short-term 
loans. 
11.10. BHARAT INTERFACE FOR 
MONEY - UNIFIED PAYMENTS 
INTERFACE (BHIM-UPI) 
• Bhutan has become the first country to adopt 
India’s UPI standards for its quick response (QR) 
code.  
o It is also the second country after Singapore 
to have BHIM-UPI acceptance at merchant 
locations. 
• BHIM-UPI is India’s real-time digital payment 
system for safe, easy & instant digital payments. 
• Developed (in 2016) and operated by NPCI, BHIM 
application (app) powers multiple bank accounts 
into a single Virtual Payment Address (UPI ID) 
with services like- instant bank-to-bank payments, 
bill payment, Scan and Pay, Request Money etc. 
via mobile number or UPI ID only. 
11.11. DIGITAL INITIATIVES 
LAUNCHED 
• Matsya Setu App: Launched by  Ministry for 
Fisheries, Animal Husbandry, and Dairying, it aims 
to disseminate latest freshwater aquaculture 
technologies to aqua farmers of the country. 
• Kisan Sarathi Digital Platform: It was jointly 
launched by the Ministry of Agriculture and 
Electronics and Information Technology on the 
occasion of Indian Council of Agriculture Research 
(ICAR) Foundation Day. 
o It facilitates farmers to get right information 
at right time in their desired language. 
o Empowers farmers with the technological 
interventions and reach farmers in remote 
areas. 
o Farmers can avail personalised advisories on 
agriculture and allied areas directly from 
scientists of KrishiVigyan Kendra through the 
digital platform. 
o Highly valuable in Agricultural Extension, 
Education and Research activities of ICAR. 
11.12. MINISTRY OF POWER 
RELEASES 9TH INTEGRATED RATINGS 
OF STATE POWER DISTRIBUTION 
UTILITIES  
• Ratings have been carried out by ICRA 
(International Credit Rating Agency) Analytics 
Limited (IAL) &Care Advisory Research & Training 
Limited (CART), The Consulting Arms Of ICRA 
Ratings and Care respectively. 
o It is aimed at helping banks and financial 
institutions assess risk while lending to the 
distribution utilities. 
o Rankings will impact their borrowing from 
the state-owned financial institutions, 
including Power Finance Corporation (PFC) 
and Rural Electrification Corp. Ltd (REC). 
• Key findings: 
o Losses of state-owned electricity distribution 
companies (DISCOMs) have dropped by more 
than a third to Rs.38,000 crore in FY20. 
o Gap between the cost of electricity bought 
(ACS- average cost of supply) and supplied 
(ARR- average realizable revenue) has come 
down. 
o Five state distribution utilities of Gujarat(4) 
and Haryana(1) have topped the ratings for 
Page 5


 
91                                                                                                                                                        
11. NEWS IN SHORTS 
11.1. WEST BENGAL ASSEMBLY 
PASSES RESOLUTION TO SET UP 
LEGISLATIVE COUNCIL 
• Legislative Council (LC) is the upper house in the 
state and like the Rajya Sabha, it is a permanent 
House. 
o The members of the Council are either 
nominated by the Governor of the state or 
are indirectly elected.  
o Tenure of the members of the council is six 
years, and a third of the members of the 
House retire after every two years. 
o Eligibility criteria: Indian citizen who is at least 
30 years of age; a person cannot 
simultaneously be a Member of Parliament 
and State legislature. 
• Article 169 of the Constitution empowers the 
Legislative Assembly to create or abolish a 
Legislative Council by passing a resolution.  
o Also under Article 171, LC cannot have more 
than one-third of the number of MLAs in the 
state, and not less than 40 members. (Total 
number of members in LC of a State shall not 
exceed one-third of the total number of 
members in the Legislative Assembly of that 
State, provided that total number of members 
in LC shall in no case be less than forty.) 
o The resolution has to be passed by two-thirds 
of the Assembly members. 
o Then a Bill to this effect has to be passed by 
Parliament. 
• At present six states namely Bihar, Uttar Pradesh, 
Maharashtra, Andhra Pradesh, Telangana and 
Karnataka have a Legislative Council. 
• Composition of LC  
o 1/3rd are elected by the Legislative Assembly.  
o 1/3rd are elected by the local bodies like a 
municipality or other local authorities.  
o 1/12th are elected by graduates.  
o 1/12th are elected by teachers.  
o 1/6th are nominated by the Governor.  
11.2. CABINET APPROVES CONTINUATION OF THREE SCHEMES 
Scheme Objective  Benefits 
National 
Mission for 
Justice 
Delivery and 
Legal 
Reforms 
(Extended till 
March 2026) 
• A centrally sponsored scheme launched in 1993-94 to 
augment state resources and develop infrastructural facilities 
for subordinate judiciary such as, Court buildings, Digital 
Computer Rooms etc. 
? The upgraded “Nyaya Vikas-2.0” web portal and mobile 
application is used for monitoring physical and financial 
progress of the scheme. 
• Cabinet also approved Rs 50 crore for Gram Nyayalayas 
infrastructure, established under the Gram Nyayalayas Act, 
2008 for speedy and easy access to the justice system in the 
rural areas of India. 
• Improve digital capabilities and give 
impetus to the digitization initiation. 
• Improve the overall functioning and 
performance of the Judiciary. 
• Continued assistance to the Gram 
Nyayalayas will give impetus to 
providing speedy, substantial and 
affordable justice to the common 
man at his door step. 
Rebate of 
State and 
Central taxes 
and 
Levies(RoSCT
L- Extended 
till March 
2024) 
? Rebate of State Levies (ROSL) was launched in 2016 under which 
exporters of apparel, garment and made-ups were refunded 
embedded taxes and levies. 
? In 2019, new scheme named RoSCTL was brought whereby 
exporters are issued a Duty Credit Scrip for the value of embedded 
taxes and levies contained in the exported product. 
? Exporters can use this scrip to pay basic Customs duty for 
import of equipment, machinery or any other input. 
• Ensure stable and predictable policy 
regime for next 3 years 
• Increased export competitiveness 
against LDC nations or FTAs between 
nations 
• promotion of startups and 
entrepreneurship 
• Help in Job Creation 
National 
AYUSH 
Mission 
(Extended till 
March 2026) 
A centrally sponsored scheme launched in 2014 to- 
• Promote AYUSH medical systems through cost effective 
AYUSH services,  
• Strengthen institutional capacities of educational systems, 
pharmacies, laboratories etc. 
• Facilitate the enforcement of quality control and sustainable 
availability of ASU & H raw-materials and drugs. 
• Better access to AYUSH healthcare 
services  
• Improvement in AYUSH education. 
• To focus on reducing 
communicable/non-communicable 
diseases using AYUSH systems of 
healthcare. 
 
 
92                                                                                                                                                        
11.3. INDIA-US RENEW GLOBAL 
DEVELOPMENT PARTNERSHIP DEAL 
FOR 5 YEARS 
• India and the US renewed a global development 
partnership agreement that provides for jointly 
offering assistance to their partner countries. 
o Both sides signed amendment to the 
Statement of Guiding Principles (SGP) on 
Triangular Cooperation for Global 
Development, extending the pact's validity up 
to 2026. 
o Feed The Future India Triangular Training 
Program (FTF ITT) for Africa is an example of a 
project under this. 
o The SGP agreement was initially signed in 
2014and renewed in 2019 till 2021. 
• Triangular cooperation 
o Triangular cooperation involves three actors 
(see infographic), two from the South 
(Facilitating and Beneficiary partner) and one 
from the North (pivotal partner). The latter 
can also be an international multilateral 
organization. 
o The division of “North” and “South” is used 
to refer to the social, economic and political 
differences that exist between developed 
countries (North) and developing countries 
(South). 
• India’s other triangular Cooperation examples 
o India-Japan Cooperation: Asia–Africa Growth 
Corridor (AAGC). 
o The India–Triangular in the form of project 
called “Supporting India’s Trade Preferences 
for Africa” (SITA), funded by the DFID (UK’s 
Department for International Development). 
 
11.4. 3RD ARCTIC SCIENCE 
MINISTERIAL 
• The 3
rd
 Arctic Science Ministerial (ASM3) meeting 
was jointly organised by Iceland and Japan, for 
discussing research and cooperation in the Arctic.  
• The meeting has been designed to provide 
opportunities to various stakeholders, including 
academia, indigenous communities, governments 
and policymakers, to  
o Enhance collective understanding of the Arctic 
region,  
o Emphasize and engage in constant 
monitoring, and  
o Strengthen observations.  
• The theme for this year was ‘Knowledge for a 
Sustainable Arctic’. 
• The first two meetings—ASM1 and ASM2—were 
held in the USA in 2016 and Germany in 2018. 
• India participated in the meeting and shared its 
plans to contribute observing systems in the 
Arctic, both in-situ and by remote sensing.  
o India would deploy open ocean mooring in 
the Arctic for long-term monitoring of upper 
ocean variables and marine meteorological 
parameters. 
o India also plans to launch NISAR (NASA-ISRO 
Synthetic Aperture Radar) satellite by 2023, a 
joint ISRO-NASA mission, for global 
observations over all land masses including 
Polar cryo-sphere and Indian Ocean region. 
11.5. MEKONG-GANGA COOPERATION 
(MGC) 
• India’s Foreign Minister during the 11th MGC 
meeting said that India is seeking a multi-
dimensional engagement with the Mekong 
region. 
o India also called for a "collective and 
collaborative" response to effectively deal 
with coronavirus pandemic. 
• The MGC initiative comprising six countries — 
India, Cambodia, Myanmar, Thailand, Laos and 
Vietnam — was launched in 2000 to boost 
cooperation in a range of areas including 
connectivity, education, tourism and culture. 
 
11.6. INDIA COVID 19 EMERGENCY 
RESPONSE AND HEALTH SYSTEMS 
PREPAREDNESS PACKAGE: PHASE II 
• This new scheme was approved by Union Cabinet 
at a cost of Rs 23,123 crore for FY 2021-22. 
 
93                                                                                                                                                        
o Phase 1 of the scheme was launched in March 
2020 with Rs. 15,000 croreoutlay. 
• It has two components: 
Central Sector (CS) 
components (Funding and 
execution both borne by 
Centre) 
Centrally Sponsored 
Schemes (CSS) components 
(jointly funded by Centre 
and States but executed by 
States) 
• Support to Central 
Hospitals for 
repurposing beds for 
COVID management.  
• National Centre for 
Disease Control would 
be strengthened by 
providing Genome 
Sequencing machines 
etc. 
• Support for 
implementation of 
Hospital Management 
Information System in 
all the District 
Hospitals of the 
Country. 
• Support for expanding 
National Architecture 
of eSanjeevani Tele-
consultation platform 
to provide upto 5 lakhs 
tele-consultations per 
day (present 50,000 
Tele-consultations per 
day).  
• IT interventions, 
including strengthening 
COVID-19 Portal etc. 
• Create Paediatric units 
in all 736 districts and 
to establish Paediatric 
Centre of Excellence in 
each State/UT. 
• Creating pre-fabricated 
structures for adding 
additional beds at 
existing CHCs, PHCs 
and SHCs. 
• Install Liquid Medical 
Oxygen Storage tanks, 
Augment the existing 
feet of ambulances, 
support to districts for 
essential medicines for 
COVID-19 management 
etc. 
• Engage Undergraduate 
and post graduate 
medical interns and 
final year students for 
effective COVID 
management. 
11.7. MODIFICATIONS IN CENTRAL 
SECTOR SCHEME OF FINANCING 
FACILITY UNDER AGRICULTURE 
INFRASTRUCTURE FUND (AIF) 
• Launched in 2020 to deal with the Covid crisis, the 
AIF scheme for financing viable projects related to 
postharvest management infrastructure and 
community farming assets. 
o The duration of the scheme is 10 years. 
o Under the scheme, Rs. 1 Lakh Crore will be 
provided by banks and financial institutions 
as loans with interest subvention of 3% per 
annum and credit guarantee coverage for 
loans up to Rs. 2 Crores. 
• Now the government has made the following 
modifications 
o Inclusion of State agencies/APMCs 
(Agricultural Produce Market Committee), 
National and State Cooperative Federations, 
Farmers Producers Organizations (FPOs) and 
Self Help Groups (SHGs) 
o Extension of the interest subvention scheme 
and loan guarantee for each project for a 
maximum of 25 such projects, provided they 
are at different places. 
o Overall period of the scheme has been 
extended to 13 years (up to 2032-33) 
• Significance: 
o APMCs can strengthen their infrastructure 
such as cold storages, processing plants etc.  
? Also it allays farmers' fear that APMC will 
be scrapped with the implementation of 
three agriculture laws. 
o SHGs and FPOs will bring more investment 
ensuring that benefits reach small and 
marginal farmers. 
11.8. REAL TIME GROSS SETTLEMENT 
(RTGS) & NATIONAL ELECTRONIC 
FUND TRANSFER (NEFT) PAYMENT 
SYSTEMS OPENED FOR NON-BANKS 
• The Reserve Bank of India (RBI) has allowed Non-
Banks (like Prepaid Payment Instrument issuers, 
card networks, White label ATM operators) to 
participate in its Centralized Payment Systems 
(CPS). 
o CPS in India comprise of Real Time Gross 
Settlement (RTGS) and National Electronic 
Funds Transfer (NEFT) systems, both owned 
and operated by the RBI. 
• Till now, only Banks were allowed to use both 
payment systems. 
o Apart from banks, very few select non-banks 
have been approved to participate in CPS- 
clearing corporations of stock exchanges, 
select financial institutions (NABARD, EXIM 
Bank) etc. 
• With it, Non-Banks will be allotted a separate 
Indian Financial System Code (IFSC); a current 
account will be opened with the RBI in its core 
banking system (e-Kuber); a settlement account 
maintained with the RBI etc. 
• Advantages for non-banks 
o Reduction in cost of payments 
o Minimise dependence on banks 
o Reduce time taken for completing payments  
o Facilitate better settlement risk management  
o Ensure expanding access and participation of 
non-banks, leading to diversity and resiliency 
of the payments ecosystem etc. 
 
94                                                                                                                                                        
 
11.9. RBI ISSUES ADVISORY FOR 
TRANSITION FROM LIBOR 
• Banks and other financial institutions have been 
asked for transitioning from London Interbank 
Offered Rate (LIBOR) by December 2021 to any 
widely accepted alternative reference rate (AAR) 
like AONIA (Australian Interbank Overnight Cash 
Rate) and SARON (Swiss Average Rate Overnight). 
o With demise of Libor, the Indian benchmark 
Mumbai Interbank Forward Outright Rate 
(MIFOR), which uses Libor as a benchmark, 
has to be scrapped too by December 2021. 
• LIBOR will be phased out by June 30, 2023. 
• About LIBOR 
o London Interbank Offered Rate (LIBOR) is a 
benchmark interest rate at which major 
global banks lend to one another in the 
international interbank market for short-term 
loans. 
11.10. BHARAT INTERFACE FOR 
MONEY - UNIFIED PAYMENTS 
INTERFACE (BHIM-UPI) 
• Bhutan has become the first country to adopt 
India’s UPI standards for its quick response (QR) 
code.  
o It is also the second country after Singapore 
to have BHIM-UPI acceptance at merchant 
locations. 
• BHIM-UPI is India’s real-time digital payment 
system for safe, easy & instant digital payments. 
• Developed (in 2016) and operated by NPCI, BHIM 
application (app) powers multiple bank accounts 
into a single Virtual Payment Address (UPI ID) 
with services like- instant bank-to-bank payments, 
bill payment, Scan and Pay, Request Money etc. 
via mobile number or UPI ID only. 
11.11. DIGITAL INITIATIVES 
LAUNCHED 
• Matsya Setu App: Launched by  Ministry for 
Fisheries, Animal Husbandry, and Dairying, it aims 
to disseminate latest freshwater aquaculture 
technologies to aqua farmers of the country. 
• Kisan Sarathi Digital Platform: It was jointly 
launched by the Ministry of Agriculture and 
Electronics and Information Technology on the 
occasion of Indian Council of Agriculture Research 
(ICAR) Foundation Day. 
o It facilitates farmers to get right information 
at right time in their desired language. 
o Empowers farmers with the technological 
interventions and reach farmers in remote 
areas. 
o Farmers can avail personalised advisories on 
agriculture and allied areas directly from 
scientists of KrishiVigyan Kendra through the 
digital platform. 
o Highly valuable in Agricultural Extension, 
Education and Research activities of ICAR. 
11.12. MINISTRY OF POWER 
RELEASES 9TH INTEGRATED RATINGS 
OF STATE POWER DISTRIBUTION 
UTILITIES  
• Ratings have been carried out by ICRA 
(International Credit Rating Agency) Analytics 
Limited (IAL) &Care Advisory Research & Training 
Limited (CART), The Consulting Arms Of ICRA 
Ratings and Care respectively. 
o It is aimed at helping banks and financial 
institutions assess risk while lending to the 
distribution utilities. 
o Rankings will impact their borrowing from 
the state-owned financial institutions, 
including Power Finance Corporation (PFC) 
and Rural Electrification Corp. Ltd (REC). 
• Key findings: 
o Losses of state-owned electricity distribution 
companies (DISCOMs) have dropped by more 
than a third to Rs.38,000 crore in FY20. 
o Gap between the cost of electricity bought 
(ACS- average cost of supply) and supplied 
(ARR- average realizable revenue) has come 
down. 
o Five state distribution utilities of Gujarat(4) 
and Haryana(1) have topped the ratings for 
 
95                                                                                                                                                        
operational, financial, and regulatory 
parameters. 
• Initiatives taken for DISCOM: 
o Ujwal DISCOM Assurance Yojana (UDAY): 
Approved in 2015, it envisages financial 
turnaround of DISCOMs. 
o Atmanirbhar DISCOM package:  Infusion of 
liquidity of Rs 90,000 through Power Finance 
REC and PFC by providing special long term 
transition loans. 
o Reforms-based and Results-linked, 
Revamped Distribution Sector Scheme. 
11.13. NEW BILLS PASSED BY LOKSABHA 
Inland Vessels 
Bill, 2021 
• It will replace the Inland Vessels Act, 1917 to provide for a uniform regulatory framework for Inland 
vessel navigation across the country. 
o With only 0.5% modal share of Inland waterways transportation in India as compared to 42% in 
Netherlands, 8.7% in China, the new bill strengthens procedures governing the inland vessels. 
• Major Provisions  
o The Govt will prescribe classification, standards of design, construction and crew accommodation, 
and type and periodicity of surveys, for mechanically propelled inland vessels. 
o A mandatory certificate of survey, registration and insurance policy for vessels before operation. 
o It will ensure safe carriage of goods and passengers through 
? Navigation safety standards. 
? Pollution standards on discharge. 
? Fix manning requirements with inquiry into all accidents. 
o Central Government will maintain electronic database on Inland Vessels. 
o A Development Fund for emergency preparedness, containment of pollution and boosting Inland 
navigation. 
Airport 
Economic 
Regulatory 
Authority of 
India 
(Amendment) 
Bill, 2021 
• It seeks to amend the Airports Economic Regulatory Authority of India Act, 2008, which established 
the Airport Economic Regulatory Authority (AERA).   
o AERA regulates tariffs and other charges for aeronautical services rendered at major airports in 
India. 
• Major provisions 
o Extend the definition of “major airports''.  
? The government may designate any airport as a major airport by a notification. 
? The 2008 Act designates an airport as a major airport if it has annual passenger traffic of 
at least 35 lakh. 
o Grouping of airports and notify the group as a major airport. 
? With this, the Bill seeks to group profitable airports with non-profitable ones, which could be 
offered in public-private partnership(PPP) mode as a package to the prospective bidders. 
 
Factoring 
Regulation 
(Amendment) Bill, 
2020 
 
• The Bill seeks to amend the Factoring Regulation Act, 2011 to widen the scope of entities which 
can engage in factoring business. 
o Factoring is a transaction where a business entity sells its receivables from a customer to a 
third party which is a "factor" for immediate realisation of funds either in part or in full. 
o The Factoring Regulation Act, 2011 was enacted to provide for regulating the assignment of 
receivables to factors, registration of factors carrying on factoring business and the rights and 
obligations of parties to the contract for assignment of receivables. 
• Key provisions - 
o Amends the definition of "receivables", "assignment", and "factoring business" to bring them 
at par with international definitions. 
o Widen the scope of entities which can engage in factoring business. 
o Empowers the Reserve Bank of India to make regulations with respect to factoring business. 
• The amendments are expected to help micro, small and medium enterprises (MSMEs) 
significantly by providing added avenues for getting credit facility, especially through Trade 
Receivables Discounting System. 
o This may result in bringing down the cost of funds and enable greater access to the credit-
starved small businesses, ensuring timely payments against their receivables. 
• It will empower the Reserve Bank of India to make regulations with respect to factoring business. 
National Institutes 
of Food Technology, 
Entrepreneurship 
and Management 
Bill, 2021 
• Bill declares National Institute of Food Technology Entrepreneurship and Management 
(NIFTEM)Kundali (Haryana) and Indian Institute of Food Processing Technology (IIFPT) Thanjabur 
(Tamil Nadu) under the Ministry of Food Processing Industries became Institutions of National 
Importance (INI). 
o INI is defined as one which serves as a pivotal player in developing highly skilled personnel 
within the specified region of the country/state.  
o For an institute to be declared as an INI, a special Act must be passed in the parliament that 
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