PIB Summary- 29th November, 2021 | PIB (Press Information Bureau) Summary - UPSC PDF Download

STEM

Why in News?

Recently, India-Israel Women in Science, Technology, Engineering and Mathematics (STEM) conference was held.

• The need for introducing flexible work times and gender-neutral pays to enhance women participation in STEM was highlighted.

About STEM

• STEM is a curriculum based on the idea of educating students in four specific disciplines  science, technology, engineering and mathematics  in an interdisciplinary and applied approach.
• The STEM acronym was introduced in 2001 by scientific administrators at the U.S. National Science Foundation (NSF).
• This term is typically used when addressing education policy and curriculum choices in schools to improve competitiveness in science and technology development.
• It has implications for workforce development, national security concerns and immigration policy.
• The focus has been on STEM fields and education for them since the late 20th century, when the ongoing shortage of technology workers began.
• Learners will be involved in planning, managing and providing scientific research as well as professional and technical services including laboratory and testing services, and research and development services.
• India is one of the countries that produce the highest number of scientists and engineers, the growth of STEM has picked up significantly over the last few years.
• A robust STEM education creates critical thinkers, problem-solvers, and next-generation innovators.
• According to the National Science Foundation, it is predicted that 80% of the jobs created in the next decade will require some form of math and science skills.

Participation of Women in STEM:

• About 43% of STEM graduates in India are women, which is the highest in the world, but their share in STEM jobs in India is a mere 14%.
• In Indian STEM, the primary concern has never been with the number of women graduates, but with the proportion of those who ultimately land STEM jobs.
• S &T has translated into the economic sphere and institutions are structured so, Science & Technology (S &T) could become a changemaker in society by introducing flexible work times, and gender-neutral pays to enhance women participation in STEM.
• Greater women’s participation in the tech sector will make women more strong and influential, giving a boost to their socio-economic situation in the society.

 Reasons for the Low Participation:

• Stereotypes: The paucity of women in STEM is not merely due to skill inadequacy, but also a result of assigned stereotypical gender roles.
• Patriarchy: There are patriarchal attitudes in hiring practices or awarding fellowships and grants etc.
• Society: Lack of role models, pressures to conform to societal norms and trappings of domesticity.
• Stress: Stressors related to marriage, childbirth etc.
• Household Responsibility: Responsibility related to running of households and elder care.
• Physical Safety: Physical safety during the commute to work.
• Harassment: Sexual and other types of harassment in workplaces, etc.

National Investment and Infrastructure Fund (NIIF)

About National Investment and Infrastructure Fund (NIIF)

• The government had set up the ₹40,000 crore NIIF in 2015 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled infrastructure projects.
• The Indian government is investing 49% and the rest of the corpus is to be raised from third-party investors such as sovereign wealth funds, insurance and pension funds, endowments, etc.
  (i) NIIF’s mandate includes investing in areas such as energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.
  (ii) NIIF currently manages three funds each with its distinctive investment mandate. The funds are registered as Alternative Investment Fund (AIF) with the Securities and Exchange Board of India (SEBI).

Objectives:

• To raise funds through suitable instruments which also included the off-shore credit enhanced bonds.
• To attract the anchor investors for their participation as partners in NIIF.
• Servicing of the investors of the fund.
• To consider and approve the candidate companies, institutions, and projects for investments.
• To invest in the corpus created by the Asset Management Companies (AMCs) to invest in private equity.
• To provide advisory service and prepare a shelf of infrastructure projects.

The three funds are as follows

• Master Fund: Is an infrastructure fund with the objective of primarily investing in operating assets in the core infrastructure sectors such as roads, ports, airports, power etc.
• Fund of Funds: Managed by fund managers who have good track records in infrastructure and associated sectors in India. Some of the sectors of focus include Green Infrastructure, Mid-Income & Affordable Housing, Infrastructure services and allied sectors.
• Strategic Investment Fund: Is registered as an Alternative Investment Fund II under SEBI in India. The objective is to invest largely in equity and equity-linked instruments. It will focus on green field and brown field investments in the core infrastructure sectors.