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gk today magazine subscription Published this article page no  103 Import embargo list The import embargo list of 101 items that the government promulgated last month has been specifically incorporated into DAP 2020. (An embargo is a government order that restricts commerce with a specified country or the exchange of specific goods.) 5. Offset liability The government has decided not to have an offset clause in procurement of defence equipment if the deal is done through intergovernment agreement (IGA) governmenttogovernment or an ab initio single vendor. The offset clause requires a foreign vendor to invest a part of the contract value in India. Insta Curious The Union Cabinet in 2021 approved enhanced delegation of financial powers for capital procurement to senior officers below the rank of ViceChief of armed forces. Under the Other Capital Procurement Procedure of Defence Acquisition Procedure2020 1. Financial powers up to 100 crore have been delegated to Army Commanders and equivalent of other services and regional Commanders Coast Guard. 2. Powers up to 200 crore have been delegated to Deputy Chief of Army Staff (CD &S) Master General Sustenance Chief of Material Air Officer Maintenance Deputy Chief Integrated Defence Staff and additional director general of Coast Guard. InstaLinks Prelims Link 1. What is offset liability? 2. What is Base Control Price? 3. Is DAP 2020 applicable for Coast Guard? 4. Dhirendra Singh committee was constituted for? Mains Link Discuss the significance of the policy. 3. Pradhan Mantri JanAushadhi Yojana Context Janaushadhi Diwas week to be observed from 1st March to 7th March 2022. Theme of 4th Janaushadhi Diwas Jan AushadhiJan Upyogi Pharmaceuticals & Medical Devices Bureau of India (PMBI) is the implementing agency of Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP). Performance of the scheme All the districts of the country have been covered under the scheme. Effective ITenabled logistics and supplychain systems for ensuring realtime distribution of medicines at all outlets have also been introduced. Product basket of PMBJP presently comprises 1451 drugs and 240 surgical instruments.54About PMBJP It is a campaign launched by the Department of Pharmaceuticals of the Ministry of Chemicals and Fertilizers. It seeks to provide quality medicines at affordable prices to the masses through special kendras known as Pradhan Mantri Bhartiya Jan Aushadhi Kendra. Initially launched in 2008 the scheme was rechristened in 2015. Key features of the scheme gk today magazine subscription buy

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banking service chronicle

banking service chronicle

banking service chronicle  Published this article page no  13 It works under administrative supervision of Ministry of Health & Family Welfare and lays down sciencebased standards to ensure availability of safe and wholesome food for consumption. Central Organisation for Oil Industry & Trade (COOIT) It was incorporated in 1952 as the apex organisation of the entire vegetable oil and oilseeds sector in India and aims to promote trade in oilseeds vegetable oils oilcakes etc. It organizes scientific and technological development and research in oil and oilseed industry. It recommends to Government remedial measures to improve domestic edible oil situation while framing policies related to the sector. However its total agricultural export basket accounts for a little over 2.5% of world agricultural trade. Initiatives Agricultural and Processed Food Products Export Development Authority (APEDA) It was established under the Agricultural and Processed Food Products Export Development Authority Act passed by the Parliament in December 1985. APEDA is mandated with the responsibility of export promotion and development of scheduled products such as Fruits Vegetable Meat Poultry Products. Dairy Products Confectionery Biscuits Bakery Products Honey Jaggery and Sugar Products Cocoa products chocolates floriculture Products. Pickles Papads and Chutneys etc. o It also provides financial assistance information guidelines towards the development of scheduled products. Scheme of Mega Food Park Food Processing Industries minister inaugurated Indus Best Mega Food Park at Raipur Chhattisgarh. Mega Food Park is a Cluster based approach under which the government provides financial assistance up to 50 Crore per project. Scheme of Mega Food Park aims at providing a mechanism to link agricultural production to the market by bringing together farmers processors and retailers so as to ensure maximizing value addition minimizing wastage increasing farmers income AGRISTACK Why in News? Recently many organizations that work for farmers rights and digital rights flagged concern over governments plan of creating AgriStack. About Agristack AgriStack is a collection of technologies and digital databases proposed by government with focus on farmers and the agricultural sector. AgriStack may have a Farmers Stack a Farm Stack and a Crop Stack integrated on a technology platform linking existing digital land records cadastral maps of farms and information. o Farmers Stack can consist of farmer data with Aadhaar as unique identifier Farm Stack can have geospatial information on each farm (with a farm identity) owned by a farmer with cadastral maps and Crop Stack can contain crop data linked to farms banking service chronicle buy.

banking service chronicle

banking service chronicle

banking service chronicle

banking service chronicle  Published this article page no  12 However this blending led to an increase in dependency of India on imports of edible oil and also Stagnation of land under Mustard cultivation in last 25 years. Expected benefits of the ban on blending It will encourage mustard growers to increase sowing area under mustard crop leading to higher domestic production of mustard oil and fall in edible oil imports in the long run. Replace traditional rapeseedmustard oil varieties with Canola rapeseedmustard to provide healthy oil for human consumption. 6.8. INDIAS AGRICULTURAL EXPORT Why in news? According to the commerce ministry countrys agricultural exports are anticipated to exceed US$ 50 billion for the first time this fiscal year. More about news Rice exports are expected to reach 2122 million tonnes this year. Nonbasmati rice wheat sugar and other grain exports have also seen healthy growth. Marine product exports are expected to exceed US$ 8 billion for the first time this fiscal year. Coffee exports have registered a healthy growth of around 35%. Government steps to increase exports Extending validity of various certifications  accreditations beyond their expiration dates establishing control rooms to handle issues issuing online certificates for exports and enabling the opening of more testing facilities. About Indias Agricultural Exports India is net exporter of Agri products. As per WTOs Trade Statistics share of Indias agricultural exports and imports in the world agriculture trade in 2017 was 2.27% and 1.90% respectively. Indias total exports have an 11% contribution from agricultural and processed food products. Key Exported commodities Marine products basmati rice buffalo meat spices nonbasmati rice cotton raw oil meals sugar castor oil and tea. Key Destinations Indian agriculturalhorticultural and processed foods are exported to more than 100 countriesregions with USA as the largest export destination during 202021 followed by other destinations like China Bangladesh UAE Vietnam and Saudi Arabia. Export as percentage of GDP The agricultural exports as a percentage of Indias agricultural GDP has increased from 9.4 % in 201718 to 9.9 % in 201819. Agriculture Export Facilitation Centre (AFEC) Pune It is Indias first AFEC established by the Mahratta Chamber of Commerce Industries and Agriculture (MCCIA) in association with the National Bank for Agriculture and Rural Development (NABARD). It aims at boosting the agricultural and food exports of Maharashtra by disseminating needbased information providing timely guidance and organising training courses for all stakeholders. It will serve as a onestop destination to provide exporters all possible assistance. Food Safety and Standards Authority of India (FSSAI) It is an autonomous statutory body established under the Food Safety and Standards Act 2006 banking service chronicle buy.

banking service chronicle

banking service chronicle

banking service chronicle 

banking service chronicle  Published this article page no  11 FOOD PROCESSING INDUSTRY The Ministry of Food Processing Industries (MoFPI) has launched an online portal for Production Linked Incentive Scheme for Food Processing Industry (PLISFPI). About PLISFPI It is a Central Sector Scheme with an outlay of 10900 crore. It will be implemented over a sixyear period from 202122 to 202627 with objective To support creation of global food manufacturing champions commensurate with Indias natural resource endowment and support Indian brands of food products in the international markets. Components of PLISFPI Incentivizing manufacturing of four major food product segments Millets based products Processed Fruits & Vegetables Marine Products Mozzarella Cheese. Support for branding and marketing abroad InnovativeOrganic products of SMEs including Free Range  Eggs Poultry Meat Egg Products in these segments are also covered under above component. Scheme is open to Proprietary Firm or Partnership Firm or Limited Liability Partnership (LLP) or a Company registered in India Cooperatives and SME by making an application for seeking approval for coverage under the Scheme. o Coverage under the PLI Scheme wont affect eligibility under any other scheme and vice versa. About Food Processing Industry (FPI) According to MoFPI if any raw product of agriculture animal husbandry or fisheries is transformed in such a way that its original physical properties undergo a change the transformed product is edible and has commercial value then it comes within the domain of FPI. If there is significant value addition (increased shelf life shelled and ready for consumption etc.) such produce also comes under food processing even if it does not undergo manufacturing processes. The key subsegments of FPI in India are Dairy Fruits & Vegetables Poultry & Meat processing Fisheries Food retail etc. Related News Ban on Blending of Mustard Oil Food Safety and Standards Authority of India (FSSAI) has banned blending of mustard oil with any kind of edible oil from 2021. Blending in edible vegetable oil was allowed in a notification in 1990. In 1998 the dropsy epidemic a disease that caused swelling in the body due to the buildup of fluid in tissues was witnessed in North India. With adulteration of mustard oil with Argemone Mexicana seed oil as the cause behind disease FSSAI made regulations for the blending of edible vegetable oil in 2006 ofo Producers and companies involved in blending were regularized through the Agriculture Produce (Grading and Marking) Act (AGMARK). o It also made it mandatory to write the kind of oil used for blending over the packet banking service chronicle buy.

banking service chronicle 

engineering success review

engineering success review

engineering success review Published this article page no  120 Main objective of Inflation Indexed Bonds is to provide a hedge and to safeguard the investor against macroeconomic risks in an economy. o Inflation index used in IIBs may be WPI or CPI. DEVELOPMENTS IN RELATION TO STOCK EXCHANGES NSE Prime NSE has launched NSE Prime as a new corporate governance initiative. NSE Prime is a framework that prescribes higher standards of corporate governance for listed companies than those required by regulations. It is open for all the NSElisted companies to adopt voluntarily. Benefits Raise the bar for corporate governance standards in India Enable investors to identify companies that have voluntarily signed up for higher standards of corporate governance Broaden the quality of investors in listed companies etc. NSEShine Bullion Blockchain Platform First for India the NSEShine is a blockchain platform for gold bullion launched by the National Stock Exchange (NSE) with Chainflux in support with India Gold Policy Centre (IGPC) and the Indian Bullion and Jewelers Association (IBJA). The platform will provide a data framework for bullion bar integrity for settlement of Gold derivatives contracts. It will also help in ensuring data security data integrity and data traceability for each bullion bar ID at any point of time. GUAREX National Commodity and Derivatives Exchange Limited (NCDEX) launched agriindex futures contract GUAREX.GUAREX is a pricebased index tracking the price movement in the futures contracts of its underlying i.e. Guar Seed and Guar Gum Refined Splits on a realtime basis. o It is Indias first sectoral index in Agricommodities basket. India is the worlds largest Guar producer accounting for 8085% of the worlds output (Rajasthan is the countrys top producer). NCDEX is a leading agricultural commodity exchange in India. Anchor Investor Life Insurance Corp. of India (LIC) is looking to raise upto 25000 crore from anchor investors. Anchor investors are institutional investors who are invited to subscribe the shares before the Initial Public Offers (IPOs). o Each anchor investor needs to invest a minimum of Rs 10 crore. Anchor investors are essentially brought in to enhance the confidence of investors and gauge the demand for the IPO in the market. Escrow Account Recently Securities and Appellate Tribunal (SAT) allowed National Stock Exchange (NSE) to withdraw Rs 6085 crore deposited by it in an escrow account. It is an account where funds or assets are held in trust by a third party whilst two or more parties complete a transaction. o It offers benefits like overcoming uncertainty on ability to meet obligations and facilitating custody of cash securities and other collaterals based on the transaction type. KEY CONCEPTS AND INFORMATION ON PAYMENT SYSTEMS AND FINANCIAL MARKETS Stagflation Stagflation is an economic situation in which the inflation rate is high economic growth rate slows and unemployment remains steadily high. o It creates a dilemma for government since most actions designed to lower inflation may raise unemployment levels and policies designed to decrease unemployment may worsen inflation. Legal Entity Identifier (LEI) Recently RBI made the LEI mandatory for crossborder transactions for capital or current account transactions worth Rs 50 crore and above engineering success review buy. 

engineering success review

competition success review

competition success review

competition success review Published this article page no   127 CAPITAL ACCOUNT CONVERTIBILITY (CAC) Why in news? Recently the Deputy Governor of RBI indicated towards fundamental shifts in the capital account convertibility framework in India resurrecting a debate relating to Capital account liberalization. What does capital account convertibility (CAC) mean? Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa to make payments for balance of payments transactions. Thus CAC is the ability or freedom to convert domestic currency for capital account transactions. Regulation of CAC Presently India has partial capital account convertibility started in 1990s. Past Committees to recommend a pathway towards fuller CAC o Committee on CAC 1997 (Tarapore Committee 1997) recommended full CAC for 19992000 based on fulfilment of certain benchmarks related to Fiscal Deficit Inflation NonPerforming Asset (NPA) etc. o Committee on Fuller CAC 2006 (Tarapore Committee 2006) suggested measures for gradual capital account liberalization. Steps taken to move towards fuller CAC Fully Accessible Route (FAR) to remove limit on nonresident investment in specified GSecs. RBI has allowed banks which operate International Financial Services Centre Banking Units (IBUs) to trade in nonconvertible forward (NDF) rupee market. o An NDF is a foreign exchange derivative contract allowing investors to trade in nonconvertible currencies with contract settlement in a convertible currency. Liberalized Remittance Scheme to allow all resident individuals including minors to freely remit up to USD 250000 per financial year for any permissible current or capital account transaction  or a combination of both. Reduced FDI restrictions in all sectors except for some sectoral caps or restrictions in socially sensitive (e.g. gambling) volatile (e.g. real estate) and strategic (e.g. atomic energy) sectors competition success review buy.

competition success review

competition success review

competition success review

competition success review  Published this article page no   128 Rationalization of External Commercial Borrowing (ECB) through steps likeo Replacing the system of sector wise limits All entities eligible to receive FDI have been permitted to raise ECBs up to USD 750 million per financial year under automatic route subject to certain terms and conditions prescribed in the Guidelines. o Relaxed the enduse restrictions related to ECBs allowing corporates and nonbanking finance companies (NBFCs) to raise ECBs for working capital and general corporate purposes. Benefits associated with CAC Facilitates economic growth by removing impediments to inflows of capital from global players including investors businesses and trade partners. Pressure on Government for better infrastructure discipline in policies etc. to ensure credibility of national economy as a stable and mature market. Improves efficiency of the financial sector through increased competition liquidity etc. Helps in offshore rupee market development as well as domestic investors get opportunity to invest in foreign assets at a reduced cost. Improved employment and business opportunities etc. Risks associated with free capital mobility Increased exchange rate volatility in case of sudden exit of capital causing volatility devaluation or inflation in Forex. Unsustainable Foreign Debts makes businesses prone to the risk of high repayments in case of foreign debt if exchange rates become unfavorable. Creates Credit and asset bubbles if foreign investors use equity markets to bet on currency appreciation distorting asset values and adding to the risk of speculative bubbles. Exposure to global macroeconomic shocks. Effects on Balance of Trade and Exports in case of substantial inflows leading to an overvalued exchange rate making Indian exports less competitive in the international markets. Lack of effectiveness in generating growth unless productive growth happens to ensure longterm growth through robust infrastructure ease of business technological advancements etc competition success review buy.

competition success review