1. Cabinet approves exemption to NTPC to invest beyond prescribed limit in NGEL; Approves listing of IREDA on Stock Exchange
The Prime Minister Narendra Modi-led Cabinet Committee on Economic Affairs (CCEA) granted an exemption to NTPC Limited from the existing guidelines on delegation of power to Maharatna CPSEs. This exemption allows NTPC Limited to make investments in its subsidiary company, NTPC Green Energy Limited (NGEL).
Additionally, the CCEA also granted an exemption to NGEL to invest in NTPC Renewable Energy Limited (NREL) and other JVs/subsidiaries, with a cap of 15% of its net worth beyond the monetary limit of Rs 5,000 crore to Rs. 7,500 crore. This investment is aimed at achieving NTPC Limited's target of 60 GW Renewable Energy (RE) Capacity.
2. Cabinet approves listing of IREDA on stock exchanges via IPO by Part-Sale Of Govt Stake
As part of its decisions, the Union Cabinet greenlit the listing of Indian Renewable Energy Development Agency Ltd (IREDA) on the stock exchanges through an initial public offering (IPO). This listing will involve the partial sale of the government's stake in the public sector entity and will be executed by the Department of Investment and Public Asset Management (DIPAM).
The objective of this move is to raise funds for IREDA through the issuance of fresh equity shares.
3. Ministry of Steel Signs 57 MoUs with 27 Companies Under PLI Scheme for Specialty Steel
The Ministry of Steel signed 57 Memorandums of Understanding (MoUs) with 27 companies covering 20 sub-categories for specialty steel under the Rs. 6322 crores Production Linked Incentive (PLI) Scheme at an event held at Vigyan Bhawan in New Delhi, Delhi .
The MoUs were presented to the company representatives by Union Minister Jyotiraditya Scindia, Ministry of Steel & Ministry of Civil Aviation, and Minister of State (MoS) Faggan Singh Kulaste, Ministry of Steel .
During the event, the Pellet Manufacturers Association of India (PMAI) released a booklet highlighting pellets as a value-added product, the manufacturing process, and the future of the industry in India .
4. GoI announced Seven PM MITRA Park sites
The Ministry of Commerce and Industry, led by Union Minister Piyush Goyal, announced on March 17, 2023, the selection of seven sites across India for the establishment of PM Mega Integrated Textile Regions and Apparel (PM MITRA) Parks. These parks will be set up in Tamil Nadu (TN), Telangana, Gujarat, Karnataka, Madhya Pradesh (MP), Uttar Pradesh (UP), and Maharashtra.
The Ministry of Textiles will oversee the implementation of these parks, with each park having a Special Purpose Vehicle (SPV) owned jointly by the Centre and the State Government in JV mode for project execution.
To support the parks' development, the Ministry of Textiles will provide financial aid in the form of Development Capital Support of up to Rs 500 crore per park to the Park SPV, along with Competitive Incentive Support (CIS) of up to Rs 300 crore per park to promote speedy implementation.
State governments are expected to offer contiguous and encumbrance-free land parcels of at least 1,000 acres, along with all necessary utilities, reliable power supply, water availability, waste water disposal systems, and an effective single window. Additionally, they are expected to have conducive and stable industrial/textile policies in place.
5. India Post signs MoU with Shiprocket & Pickrr to benefit MSMEs & enhance Last-Mile E-Commerce Penetration
India Post, the government-operated postal system, entered into a Memorandum of Understanding (MoU) with logistics aggregator firms Shiprocket and Pickrr on March 17, 2023. The primary objective of the MoU is to aid Micro, Small, and Medium Enterprises (MSMEs) and improve last-mile e-commerce delivery services throughout India.
The MoU was signed in New Delhi, Delhi, at Dak Bhawan, in the presence of Alok Sharma, Director General of Postal Services, and representatives from Shiprocket and Pickrr.
6. Sports News :
(i) India vs Australia - 2nd ODI [ Australia won by 10 wickets ]
19th March , 2023
Pathetic Loss
Yesterday , India had been blown away by Australia . India could not survive the Starc storm . In just 4.5 overs India lost three important wickets of Rohit Sharma the captain , Shubman Gill and Surya Kumar Yadav and all the three wickets were taken by Mitchell Starc . Virat Kohli tried with his best but on 18th over he also lost his wicket . Ultimately India scored just 117 in 26 overs with run rate of 4.5 .Australia achieved the target score in just 11 overs without fall of wicket .
Scores :
India : 117/10 (26)
Virat Kohli - 31 (35)
Axar Patel - 29 (29)
Australia : 121/0 (11)
Travis Head - 51 (30)
Mitchell Marsh - 66 (36)
Bowling :
Australia : Mitchell Starc - 5/53 (8) Sean Abbott - 3/23 (6)
Player of the match : Mitchell Starc
(ii) WPL
RCBW vs GGT - 18th March , 2023 [RCBW won by 8 wickets ]
GGT - 118 /4 RCB - 189/2
Gujarat Giants was beaten by Royal Challengers Bangalore on 18th March at the Brabourne Stadium , Mumbai and by winning this match RCB registered their second win of the tournament . Sophie Devine played a strome like knock of 99 runs off just 36 balls .
GGT scored 188 in 20 overs . While chasing RCB achieved the target in just 15.3 overs .
Scores :
GGT : Laura Wolvaardt - 68 (42) , Ashleigh Gardner - 41 (26)
RCBW : Sophie Devine - 99 (36) , Smriti Mandhana - 37 (31)
Top wicket takers :
RCBW : Shreyanka Patil - 2/17 (2)
GGT : Sneh Rana - 1/25 (3.3)
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