Syllabus: GS-III, Subject: Science and technology, Topic: Emerging technology, Issue: IndiaAI Mission

Context: Recently the Union Cabinet approved the IndiaAI Mission

• Objective: Establish over 10,000 graphics processing units (GPUs) and develop models with 100 billion parameters, focusing on priority sectors.
• Implemented through Public Private Partnership with 50% viability gap funding, prioritizing advanced GPUs.
• Creation of IndiaAI Innovation Research Centre for AI-focused education.
• Aligns with India’s electronics manufacturing strategy and global AI trends.

Related Concepts:

Viability Gap Funding (VGF) is a scheme that provides financial support for infrastructure projects that are economically justified but not commercially viable.

Source: Indian Express

Syllabus: GS-III, Subject: Economy,  Topic: Banking and Financial Intermediaries, Issue: Primary Agricultural Credit Societies

Context: Centre has decided to ensure formation of Primary Agricultural Credit Societies (PACS) in every village by 2027.

• The National Cooperative Database is launched and ‘National Cooperative Database 2023: A Report’ released.

Primary Agricultural Credit Societies(PACS):

• PACS are the foundation of the three-tier short-term co-operative credit structure.
  1. Primary Agricultural Credit Societies (PACS) at the village level,
  2. District Central Cooperative Banks (DCCBs) at the district level and
  3. State Cooperative Banks (StCBs) at the State level.
• Give loans and collect repayments of loans given to rural (agricultural) borrowers.
• Also undertake distribution and marketing functions.
• Serves as the final link between the ultimate borrowers and the higher financing agencies like banks, RBI, NABARD.

Regulation:

• Registered under the Cooperative Societies Act of the State concerned.
• PACS are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by the Reserve Bank of India.

Source: The Hindu

Syllabus: GS-III Subject: Economy  Topic:  Agriculture and allied, Issue: MSP

Context: Proposal of guaranteed procurement of unlimited amounts of three pulse crops – masur, tur (pigeon pea) and urad, maize, and cotton at MSP for five years.

Take Away Notes:

• Part of a crop diversification plan.
• Aim: To encourage farmers to move away from harmful practices used for traditional crops that damage soil health.
• Will apply only to those farmers who transition from traditional crops (rice, wheat) to pulses and maize.
• Farmers already cultivating these crops will not be eligible.

Related Concepts:

Minimum Support Price (MSP):

• It is a government-backed price, a safety net for farmers, guaranteeing them a minimum income for their crops.
• Announced at the beginning of the sowing season on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).
• Major objectives:
  • To support the farmers from distress sales and
  • To procure food grains for public distribution.
• Government announces minimum support prices (MSPs) for 22 mandated crops and fair and remunerative price (FRP) for sugarcane.

Source: Mint

Syllabus: GS-III, Subject: Economy, Topic: Trade and External sector, Issue: RoDTEP

Context: Shipments from Special Economic Zones (SEZs) and Export Oriented Units (EOUs) will be eligible for tax refunds under the RoDTEP. Scheme.

• Exports from SEZs and EOUs account for about a fourth of India’s exports.
• Exporting firms who use the Advance Authorisation (AA) scheme will also be covered under RoDTEP.

Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme:

• Provides for reimbursement of taxes, duties and levies, which are currently not being refunded under any other mechanism.
• Refunds are issued in the form of transferable electronic scrip (duty credit scrips) that can be used
  • For import duty payments
  • Transferred to other parties.
• WTO compatible and is being implemented in an end-to-end IT

Advance Authorisation (AA) scheme

• Allows duty free import of inputs, which are physically incorporated in an export product.
• Obligation for exporters: To export finished goods with a specific value addition within a stipulated time frame.
• Special Advance Authorisation Scheme (SAAS): Variant of AA specifically for the apparel and clothing accessories sector.

Related Concepts:

Source: The Hindu

Syllabus: GS-III, Subject: Economy,  Topic: Trade and External sector, Issue: India-EFTA Trade Agreement

Context: India and the European Free Trade Association (EFTA) likely to sign a long-negotiated free trade agreement.

• To be called as Trade and Economic Partnership Agreement (TEPA).

European Free Trade Association (EFTA)

• A regional trade organisation and free trade area consisting of four European states: Iceland, Liechtenstein, Norway, and Switzerland.
• They are not part of the European Union.

Related Concepts:

Source: The Hindu

Syllabus: GS-III, Subject: Current Affairs, Topic: Schemes/Policies/Programmes, Issue: PM Surya Ghar Muft Bijli Yojana

Context: The Union government made changes to the PM Surya Ghar Muft Bijli Yojana.

Changes:

• Eligibility : Only houses with a suitable roof and an existing connection to the grid.

PM Surya Ghar Muft Bijli Yojana: To Provide free electricity to 1 crore households in India.

Implementation:

• Central government investment: over ₹75,000 crore.
• Subsidy through the National Portal: Households will be able to select a suitable vendor for installing rooftop solar.
• Low-interest loan products: Access collateral-free low-interest loan products.
• A Model Solar Village will be developed in each district to act as a role model for adoption of rooftop solar in rural areas.

Source: The Hindu

Syllabus: GS-I, Subject: Geography, Topic: Current Affairs,Issue: Terms in news

Context– Recently a committee of 18 scientists have voted down a proposal to declare the start of the Anthropocene, or the “Human Epoch”

• Geoscientists utilize the geologic time scale (GTS) to chronicle Earth’s history.
• GTS categorizes time into aeons, eras, periods, epochs, and ages based on chronostratigraphic classification.
• Each interval of Earth time necessitates a clear starting point.
• Coined in 2000, the Anthropocene signifies a new epoch dominated by human influence.( by Paul Crutzen and Eugene Stoermer)
• There is skepticism about the permanency of the Anthropocene boundary.
• Some scientists propose viewing the Anthropocene as an “event” rather than a new epoch.
• Despite the rejection, evidence of human impact on the planet persists, prompting ongoing consideration of the Anthropocene’s significance.

Source: Indian Express

Syllabus: GS- III, Subject: Economy, Topic: Unemployment and issues, Issue: Periodic Labour Force Survey (PLFS)

Periodic Labour Force Survey (PLFS):

• a survey conducted by the Ministry of Statistics and Programme Implementation (MoSPI) to collect data on employment and unemployment.

Key trends in PLFS and Important Data Points:

• Increase in Labour Force Participation Rate– from around 52% in 2017-18 to around 58% in 2021-22, (Largely driven by rural women.)
• Decrease in unemployment rate– decreased from 6.2% to 4.2% during the same period, with higher youth unemployment declining from 12% to 8.5%.
• Self-employment leading to rise in LFPR and drop in unemployment, particularly unpaid family workers, increasing from 26% to 31.4%.
• Worsening job quality– Unpaid family labor and own-account workers, constituting nearly 35% of the employed, reflects worsening job quality.
• Stagnant earning– For Wage and salaried workers as well as the self-employed, while casual workers experienced a 20% increase in daily earnings.

Key concerns with this:

• India’s demographic dividend is expected to peak in less than 20 years and exhaust in 30 to 35 years.
• Engaging a majority in low-quality work during this period hampers optimal utilization of labor capital.
• This scenario may lead to a potential vicious cycle of economic slowdown.

Source: The Hindu