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
On September 8, 2021, the Union Cabinet chaired by Prime Minister Narendra Modi approved the following proposals which were briefed by Union ministers Piyush Goyal and Anurag Singh Thakur, Minister of Information and Broadcasting
Cabinet increases Minimum Support Prices (MSP) for Rabi crops for marketing season 2022-23
The Cabinet Committee on Economic Affairs (CCEA) chaired by the Hon'ble Prime Minister Shri Narendra Modi has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi crops for Rabi Marketing Season (RMS) 2022-23.
- Government has increased the MSP of Rabi crops for RMS 2022-23, to ensure remunerative prices to the growers for their produce.
The highest absolute increase in MSP over the previous year has been recommended for Lentil (Masur) and Rapeseeds & Mustard (Rs.400 per quintal each) followed by gram (Rs.130 per quintal).
- In case of safflower, there has been an increase of Rs.114 per quintal, in comparison to last year
- MSPs for all Rabi crops for marketing season 2022-23: Wheat (2015), Barley (1635), Gram (5230), Lentil (Masur) (5500), Rapeseed & Mustard (5050), Sunflower (5441)
The increase in MSP for Rabi Crops for RMS 2022-23 is in line with the Union Budget 2018-19 announcement of fixing the MSPs at a level of at least 1.5 times of the all-India weighted average cost of production, aiming a reasonably fair remuneration for the fanners.
- The expected returns to farmers over their cost of production are estimated to be highest in case of wheat and rapeseed & mustard (100% each), followed by lentil (79%); gram (74%); barley (60%); safflower (50%).
- In Price Support Scheme (PSS), physical procurement of pulses, oilseeds and Copra will be done by Central Nodal Agencies with proactive role of State governments. It is also decided that in addition to NAFED, Food Cooperation of India (FCI) will take up PSS operations in states /districts. The procurement expenditure and losses due to procurement will be borne by Central Government as per norms.
- Under Price Deficiency Payment Scheme this scheme (PDPS), it is proposed to cover all oilseeds for which MSP is notified. In this direct payment of the difference between the MSP and the selling/modal price will be made to pre-registered farmers selling his produce in the notified market yard through a transparent auction process
- This scheme does not involve any physical procurement of crops as farmers are paid the difference between the MSP price and Sale/modal price on disposal in notified market.
- It has been decided that for oilseeds, states have the option to roll out Private Procurement Stockist Scheme (PPSS) on pilot basis in selected district/APMC(s) of district involving the participation of private stockiest
- MSP for major agricultural products are fixed by the government, each year, after taking into account the recommendations of the Commission.
- As of now, CACP recommends MSPs of 23 commodities, which comprise 7 cereals (paddy, wheat, maize, sorghum, pearl millet, barley and ragi), 5 pulses (gram, tur, moong, urad, lentil), 7 oilseeds (groundnut, rapeseed-mustard, soyabean, seasmum, sunflower, safflower, nigerseed), and 4 commercial crops (copra, sugarcane, cotton and raw jute).
- The Commission for Agricultural Costs & Prices (CACP) is an attached office of the Ministry of Agriculture and Farmers Welfare, Government of India. It came into existence in January 1965
- It is mandated to recommend minimum support prices (MSPs) to incentivize the cultivators to adopt modern technology, and raise productivity and overall grain production in line with the emerging demand patterns in the country.
- The cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles with a budgetary outlay of ₹10,683 crore that will be provided over 5 years.
- It is expected that this scheme will result in fresh investment of above Rs 19,000 crore and additional production turnover of over Rs.3 lakh crore in five years
- Any person, (which includes firm / company) willing to invest minimum ₹300 Crore in Plant, Machinery, Equipment and Civil Works (excluding land and administrative building cost) to produce products of Notified lines (MMF Fabrics, Garment) and products of Technical Textiles, shall be eligible to apply for participation in first part of the scheme.
- In the second part any person, (which includes firm / company) willing to invest minimum ₹100 Crore shall be eligible to apply for participation in this part of the scheme.
- PLI scheme for Textiles is part of the overall announcement of PLI Schemes for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs. 1.97 lakh crore.
- With the announcement of PLI Schemes for 13 sectors, minimum production in India is expected to be around Rs. 37.5 lakh crore over 5 years and minimum expected employment over 5 years is nearly 1 crore.
- The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the signing of Memorandum of Understanding (MoU) on cooperation in the field of Geosciences between the Joint Stock Company Rosgeologia (State holding Company) (referred to as ROSGEO), a legal entity incorporated under the laws of the Russian Federation and the Geological Survey of India (GSI), Ministry of Mines, Government of India.
- The present agreement would set an institutional mechanism for partnership and cooperation between India and Portugal on sending and accepting Indian workers.
- The signing of Memorandum of Understanding between (ICAI) and The Chamber of Auditors of the Republic of Azerbaijan (CAAR) would help in establishing the Mutual Cooperation in the areas of Member Management, Professional Ethics, Technical Research, CPD, Professional Accountancy Training, Audit Quality Monitoring, Advancement of Accounting Knowledge, Professional and Intellectual Development.
- The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India.
- 16 aircraft to be delivered in flyaway condition from Spain by Airbus; 40 to be manufactured in India
- Unique initiative to strengthen indigenous capabilities & boost ‘Make in India’
- All aircraft to be installed with indigenous Electronic Warfare Suite
- To replace the ageing Avro aircraft of IAF
- Transport aircraft of 5-10 Tonne capacity with contemporary technology
