Daily PIB Summary & Analysis for RBI Grade B 2022, NABARD Grade A 2021, and SEBI Grade A Exam. In this Article we will discuss Press Information Bureau (PIB) Programs and their Summary for RBI Grade B Economics and Social Issue Section.
Press Information Bureau (PIB) releases news related to the policies, programmes, initiatives and achievements of the Government of India. PIB releases are important to be read for the RBI Grade B Exam however, equally important is to know which PIB release should be read.
The Press Information Bureau (PIB) is the nodal agency of the government of India to broadcast and publicize information on government policies, initiatives, achievements and working of every ministry and department within the government through its official website using various articles, images and photographs
Prime Minister chairs 13th BRICS Summit
The theme of the Summit, chosen by India, was, BRICS@15: Intra-BRICS Cooperation for Continuity, Consolidation and Consensus.
- The Summit saw the participation of all other BRICS Leaders - President Jair Bolsonaro of Brazil, President Vladimir Putin of Russia, President Xi Jinping of China, and President Cyril Ramaphosa of South Africa.
Highlighting the leading role that BRICS countries can play in the post-COVID global recovery, Prime Minister called for enhanced BRICS cooperation under the motto of 'Build-back Resiliently, Innovatively, Credibly and Sustainably'.
- Elaborating on these themes, Prime Minister stressed the need for accelerating 'build-back' by enhancing speed and accessibility of vaccination, creating 'resilience' by diversifying pharma and vaccine production capacities beyond the developed world, fostering 'innovation' by creatively using digital tools for public good, ensuring reform of multilateral institutions to enhance their 'credibility', and promoting 'sustainable' development by articulating a common BRICS voice on environmental and climate issues.
Prime Minister expressed his appreciation for the cooperation received from BRICS partners during India's Chairship this year, which allowed the achievement of several new initiatives.
These included the first BRICS Digital Health Summit;
- The first BRICS Ministerial Joint Statement on multilateral reforms;
- A BRICS Counter-Terrorism Action Plan;
- An Agreement on cooperation in field of remote-sensing satellites;
- A virtual BRICS vaccine Research & Development Centre;
- BRICS Alliance on Green Tourism, etc.
BRICS has created strong institutions like the New Development Bank, the Contingency Reserve Arrangement and the Energy Research Cooperation Platform.
This year, despite the challenges posed by COVID, more than 150 BRICS meetings and programs were organized, out of which more than 20 were at the Ministerial level.
It is also the first time that BRICS has taken a collective position on 'Strengthening and Reforming Multilateral Systems'.
Government Provides Big Boost to Exporters
- Rs. 56,027 crore is going to be released under various Export Promotion Schemes
- Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category.
- The amount of Rs 56,027 crores of arrears is for different export promotion and remission schemes: MEIS (Rs 33,010 crore), SEIS (Rs 10,002 crore), RoSCTL (Rs 5,286 cr), RoSL (Rs 330 crore), RoDTEP (Rs 2,568 crore), other legacy Schemes like Target Plus etc (Rs 4,831 crore).
- This amount is over and above duty remission amount of Rs 12,454 crore for the RoDTEP scheme and Rs 6,946 crore for RoSCTL scheme already announced for exports made in this year i.e. FY 2021-22.
- Exports in India have seen robust growth in recent months. Merchandise exports for April-August, 2021 was nearly $164 billion, which is an increase of 67% over 2020-21 and 23% over 2019-20.
Production of oil from Mustard Seeds increased from 91 LMT to 101 LMT this year
- Due to a gap between demand and supply, around 60% of the edible oils consumed in the country are met through imports.
- In this accord, palm oil constitutes around 54% of the total edible oil imported mainly from Indonesia and Malaysia, while Soyabean oil constitutes around 25% and is imported from Argentina and Brazil and Sunflower oil constitutes 19% and is imported mainly from Ukraine.
- In medium term contract production of edible oils is being given very high priority which is reflected in highest production of Mustard seeds from 91 LMT to 101 LMT this year.
- In case of Palm Oil (crude and refined), the imported quantity for August 2021 was 7.43 LMT as against 5.65 LMT in July, 2021.
CCI approves acquisition of ONGC Tripura Power Company Limited (Target) by GAIL (India) Limited (Acquirer)
- The Competition Commission of India (CCI) approves acquisition of ONGC Tripura Power Company Limited (Target) by GAIL (India) Limited (Acquirer) under Section 31(1) of the Competition Act, 2002
- The proposed combination relates to the acquisition of 26% equity share capital of the Target by the Acquirer from IL&FS group entities.
Groww Owner gets CCI nod to Acquire IndiaBulls AMC
- The proposed combination envisages acquisition of 100% of the shareholding of Indiabulls Asset Management Company Limited (Indiabulls AMC) and Indiabulls Trustee Company Limited (Indiabulls Trustee).
- Nextbillion Technology Private Limited is a stockbroker and depository participant. It is also registered with Association of Mutual Funds in India as a mutual fund distributor. It is engaged in providing an online platform named Groww that allows investors to invest, inter alia, in mutual funds and stocks.
DRDO hands over air defense missile (MRSAM) System to Indian Air Force
- In a significant boost to India’s defense capabilities, the first deliverable Firing Unit (FU) of Medium Range Surface to Air Missile (MRSAM) System was handed over to Indian Air Force (IAF) in the presence of Raksha Mantri Shri Rajnath Singh at Air Force Station, Jaisalmer in Rajasthan on September 09, 2021.
- The MRSAM (IAF) is an advanced network centric combat Air Defense System developed jointly by DRDO and Israel Aerospace Industries (IAI) in collaboration with the Indian industry comprising of private and public sectors including MSMEs.
- It is capable of engaging multiple targets at ranges up to 70 kms in severe saturation scenarios.
OPENING CEREMONY EXERCISE ZAPAD 2021
- The Exercise ZAPAD 2021 commenced on 04th September 2021 at Nizhniy in Russia with an aim to train troops to undertake joint operations in conventional battlefield scenario.
- The exercise aims at strengthening long standing strategic partnership between India and Russia and also enhance better understanding, cooperation with all other participating Nations.
Emergency Landing Facility for Indian Air Force in Barmer, Rajasthan
- Raksha Mantri Shri Rajnath Singh and Minister for Road Transport and Highways Shri Nitin Gadkari jointly inaugurated Emergency Landing Facility (ELF) for the Indian Air Force (IAF) at Satta-Gandhav stretch on NH-925A near Barmer, Rajasthan on September 09, 2021
- National Highway used for emergency landing of IAF aircraft for the first time. ELF to facilitate landing of all types of IAF aircraft
- Shri Nitin Gadkari says Emergency Landing Facilities will be developed at 19 other places to strengthen country’s security
Union Education Minister releases India Rankings 2021 : Read Here
Revenue Deficit Grant of Rs. 9,871 crore released to 17 States
- The Department of Expenditure, Ministry of Finance on Thursday released the 6th monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871.00 crore to the States.
- With the release of this installment, a total amount of Rs. 59,226.00 crore has been released to the eligible States as Post Devolution Revenue Deficit Grant (PDRD) in the current financial year.
- The Post Devolution Revenue Deficit Grant is provided to the States under Article 275 of the Constitution.
- The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 1,18,452 crore to 17 States in the financial year 2021-22. Out of this, an amount of Rs. 59,226.00 crore (50%) has been released so far.
- The States recommended for PDRD Grant by the Fifteenth Finance Commission are: Andhra Pradesh, Assam, Haryana, Himachal Pradesh, Karnataka, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
'Main Bhi Digital 3.0' - A special Campaign for Digital Onboarding and Training for street vendors launched
- Ministry of Housing and urban Affairs( MoHUA) in collaboration with the Ministry of Electronics & Information Technology (MeitY) launched the pilot drive 'Main Bhi Digital 3.0' - A special Campaign for Digital Onboarding and Training for street vendors under PM SVANidhi scheme across 223 cities in the country today
- The BharatPe, Mswipe, PhonePe, Paytm, Aceware are participating in this drive to issue UPI IDs, QR code and provide digital training.
- So far, 45.5 lakh applications have been received. Out of these, 27.2 lakh loans have been sanctioned and 24.6 lakh loans have been disbursed.
- The amount disbursed so far is ₹2,444 Cr. More than 70,448 street vendors have repaid their first loan tranche.
About PM SVANidhi
- PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) was launched on June 1, 2020 as a Central Sector Scheme.
- The scheme facilitates affordable working capital loan of up to ₹10,000 with an interest subsidy @7% on regular repayment.
- The scheme targets to cover 50 lakh street vendors, who had been vending on or before March 24, 2020.
- The street vendors also stand a chance to avail a loan of ₹20,000 and ₹50,000 in the second and third tranches respectively on timely repayment of the loan.
- To encourage digital transaction a cash back up to ₹1,200 on digital transactions at ₹100 per month is provided to the street vendors under the scheme.
- SIDBI has been appointed as the implementation agency for scheme administration.
National Mission For Clean Ganga & Naula Foundation Celebrate Himalayan Day 2021 With The Theme ‘Contribution Of Himalayas And Our Responsibilities’.
- Himalaya Diwas is celebrated every year on 9th September in the state of Uttarakhand. It is celebrated with the aim to conserve Himalayan ecosystem and region.
- It was officially declared as Himalaya Day in 2015 by the then Chief Minister.
Over 27 lakh unorganized workers registered on E-Shram portal since its launch
- The Ministry of Labour Welfare and Employment is organizing various camps for registration of the unorganized workers on the E-shram portal.
- Enlisting the benefits the Minister of State informed that the registration also provides Rs 2 Lakh Accidental Insurance Cover. (Rs 2.0 Lakh on death or permanent disability and Rs 1.0 lakh on partial disability)
Ministerial meeting of the U.S.-India Strategic Clean Energy Partnership (SCEP)
- Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs Hardeep Singh Puri today co-chaired a virtual Ministerial meeting with U.S. Secretary of Energy Ms. Jennifer Granholm to launch the revamped U.S.-India Strategic Clean Energy Partnership (SCEP).
- The SCEP is launched in accordance with U.S.-India Climate and Clean Energy Agenda 2030 Partnership announced by Prime Minister Narendra Modi and President Joe Biden at the Leaders Summit on Climate held in April this year.
- The SCEP organizes inter-governmental engagement across five pillars of cooperation: (1) Power and Energy Efficiency; (2); Responsible Oil and Gas; (3) Renewable Energy; (4) Sustainable Growth and (5) Emerging Fuels.
India's first Indigenously Designed High Ash Coal Gasification Based Methanol Production Plant at BHEL R&D Centre, Hyderabad
- Methanol is utilized as a motor fuel, to power ship engines, and to generate clean power all over the world.
- Methanol is also used to generate di-methyl ether (DME), a liquid fuel that is very similar to diesel — existing diesel engines simply need to be minimally changed to use DME instead of diesel.
- To address this issue, BHEL R&D center at Hyderabad began working on Indian high ash coal gasification in 2016 with support from the NITI Aayog to produce 0.25 ton per day methanol.
- The project was supported by the Department of Science and Technology with a Rs 10 crore grant.
Periodic Labour Force Survey (PLFS) – Quarterly Bulletin [October-December 2020]
The present Quarterly Bulletin in the ninth in the series for the quarter October- December 2020.
Conceptual Framework of Key Employment and Unemployment Indicators for the Quarterly Bulletin: The Periodic Labour Force Survey (PLFS) gives estimates of Key employment and unemployment Indicators like the Labour Force Participation Rates (LFPR), Worker Population Ratio (WPR), Unemployment Rate (UR), etc.
These indicators, and the and ‘Current Weekly Status’ are defined as follows:
- Labour Force Participation Rate (LFPR): LFPR is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population.
- Worker Population Ratio (WPR): WPR is defined as the percentage of employed persons in the population.
- Unemployment Rate (UR): UR is defined as the percentage of persons unemployed among the persons in the labour force.
Activity Status- Current Weekly Status (CWS): The activity status determined on the basis of a reference period of last 7 days preceding the date of survey is known as the current weekly status (CWS) of the person.
Key Highlights:
- LFPR (in per cent) in CWS in urban areas for persons of age 15 years and above : 73.6 (Male), 20.6 (Female) and Total (47.3%)
- WPR (in per cent) in CWS in urban areas for persons of age 15 years and above : 66.7 (Male), 17.9 (Female) and Total (42.4%)
- UR (in per cent) in CWS in urban areas for persons of age 15 years and above : 9.5 (Male), 13.1 (Female) and Total (10.3%)
About PLFS:
Considering the importance of availability of labour force data at more frequent time intervals, National Statistical Office (NSO) launched Periodic Labour Force Survey (PLFS) in April 2017.
The objective of PLFS is primarily two fold:
- To estimate the key employment and unemployment indicators (viz. Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in the short time interval of three months for the urban areas only in the ‘Current Weekly Status’ (CWS).
- To estimate employment and unemployment indicators in both ‘Usual Status’ (ps+ss) and CWS in both rural and urban areas annually.
On the basis of the data collected in PLFS, three Annual Reports of PLFS corresponding to the periods July 2017 - June 2018, July 2018 - June 2019 and July 2019 - June 2020 covering both rural and urban areas giving estimates of all important parameters of employment and unemployment in both usual status (ps+ss) and current weekly status (CWS) have been released.
Besides these Annual Reports, eight Quarterly Bulletins of PLFS corresponding to the quarters covered during the period December 2018 to September 2020 have already been released. In these quarterly bulletins estimates of labour force indicators, viz., Worker population ratio (WPR), Labour Force Participation Rate (LFPR), Unemployment Rate (UR), distribution of workers by broad status in employment and industry of work in the Current Weekly Status (CWS) for urban areas have been presented.
Sample Design of PLFS: A rotational panel sampling design has been used in urban areas. In this rotational panel scheme, each, selected household in urban areas is visited four times, in the beginning with ‘First Visit Schedule’ and thrice periodically later with a ‘Revisit Schedule’. The scheme of rotation ensures that 75% of the first-stage sampling units (FSUs) are matched between two consecutive visits.
Sample Size: At the all-India level, in the urban areas, a total number of 5,563 FSUs (UFS blocks) have been surveyed during the quarter October – December 2020. The number of urban households surveyed was 43,693 and number of persons surveyed was 1,71,553 in urban areas.
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