National and International News :
1. President Droupadi Murmu Conferred National Panchayat Awards 2023 & Inaugurated the ‘National Conference on Incentivisation of Panchayats’
(a) President of India, Droupadi Murmu conferred the National Panchayat Awards 2023 and inaugurated the ‘National Conference on Incentivisation of Panchayats’ in New Delhi. The President also inaugurated the National Panchayat Awards Week which was celebrated from April 17 to 21, 2023 as part of Azadi Ka Amrit Mahotsav (AKAM) 2.0. National Panchayati Raj Day is observed annually on 24th April to celebrate the constitutional status accorded to the Panchayati Ray system.
(b) National Panchayat Awards 2023 :
MoPR annually confers National Panchayat Awards to incentivize best-performing Panchayats across India under revamped Rashtriya Gram Swaraj Abhiyan scheme.
The awards are based on the performance of Panchayats under 9 Localization of Sustainable Development Goals (LSDGs) themes, aggregating 17 SDGs. The objective is to promote competitive spirit and catalyze the process of LSDGs through Panchayati Raj Institutions by 2030.
The award acknowledges and honours Panchayats' performance in attaining SDGs.
(c) The 9 LSGD Themes are as follows :
(i) Poverty free and enhanced livelihoods Panchayat
(ii) Healthy Panchayat
(iii) Child Friendly Panchayat
(iv) Water Sufficient Panchayat
(v) Clean and Green Panchayat
(vi) Self-sufficient infrastructure in Panchayat
(vii) Socially Secured Panchayat
(viii) Panchayat with Good Governance
(ix) Women-Friendly Panchayat
(d) National Level Awards will be given to Gram, Block, and District Panchayats under four categories : Deen Dayal Upadhyay Panchayat Satat Vikas Puraskar (for LSDG performance), Nanaji Deshmukh Sarvottam Panchayat Satat Vikas Puraskar (for overall performance and green initiatives), Gram Urja Swaraj Vishesh Panchayat Puraskar, and Carbon Neutral Vishesh Panchayat Puraskar.
(e) As part of the National Panchayat Awards Week celebrations, MoPR organized a series of Thematic Conferences on the theme of "Panchayaton ke Sankalpon ki Siddhi ka Utsav". The series included five National Conferences covering 9 LSDG themes and Way Forward for 2047 through Panchayati Raj Institutions. Additionally, Union Minister of Rural Development and Panchayati Raj, Giriraj Singh, released a booklet on "Best Practices on Works of Awardee Panchayats".
(f) Union Minister Giriraj Singh, Ministry of Rural Development (MoRD) and Panchayati Raj, stated that 21 states have made 50% reservations for women in the 3-tier Panchayats, and called for other states to provide reservations for women beyond the constitutional provision of 33%.
The government's allocation per person for development under the Finance Commission has increased from Rs. 54 to Rs. 700. Additionally, 31 lakh elected representatives have been trained towards sustainable village development, drone flights have been completed in over 2.5 lakh villages, and property cards have been provided to over 57,000 rural residents.
Under the SVAMITVA scheme, drone surveys have been completed in over 2.35 lakh villages, and 95% of 6.62 lakh villages have been provided with Bhu-Aadhaar under the Unique Land Parcel Identification Number project.
(g) GS NIRNAY App :
Union Minister Giriraj Singh launched GS NIRNAY (National Initiative for Rural India to Navigate, InnovAte and Resolve PanchaYat decisions) mobile application during the National Conference to empower rural communities by providing easy access to critical information discussed during a Gram Sabha. This app is a step towards realizing the vision of ‘Minimum Government, Maximum Governance’ at the grassroots level and will increase transparency and efficiency in the functioning of Panchayats. Short films were also screened during the conference, showcasing the journey of LSDGs, exemplary works of best-performing Awardee Gram Panchayats, and the GS NIRNAY app.
2. IAF Participated in Multilateral Military Exercise Orion at Mont-de-Marsan Airbase in France
The Indian Air Force (IAF) joined the Air Forces of Germany, Greece, Italy, Netherlands, United Kingdom, Spain, and the United States of America (USA) for the Multilateral Military Exercise Orion at Mont-de-Marsan, a French Air and Space Force (FASF) base in France. The exercise commenced on April 17, 2023, and will conclude on May 5, 2023.
Note :
Indian Air Force has sent a contingent of four Rafale, two C-17, two IL-78 aircraft and 165 air warriors to participate in the Multilateral Military Exercise Orion held in Mont-de-Marsan, France. This is the first overseas exercise for the IAF Rafale aircraft. The exercise involves approximately 12,000 troops from NATO and four phases, making it one of the largest military exercises organized by France. The IAF aims to learn and incorporate the best practices of other Air Forces to enhance their employment philosophy.
3. Union Minister Dr Jitendra Singh launches ‘YUVA PORTAL’ to Identify Potential Young Start-Ups
The YUVA Portal and One Week-One Programme were launched on April 17, 2023, by Dr. Jitendra Singh, the Union Minister of State (Independent Charge) Science & Technology. The launch took place at the National Physical Laboratory (NPL) in New Delhi, Delhi. The YUVA Portal aims to connect and identify potential young start-ups. YUVA stands for Young, Upcoming, and Versatile Authors.
Key points :
(i) During the launch of the YUVA Portal and One Week- One Programme, Dr Jitendra Singh praised the 37 Council of Scientific & Industrial Research (CSIR) Labs in India for their contributions to technology, innovation, and start-ups.
(ii) As part of the One Week – One Lab campaign, each CSIR lab is showcasing its unique innovations and breakthroughs to the public, providing an opportunity for others to benefit from their work.
One Week – One Lab programme :
CSIR-National Physical Laboratory (NPL) is organizing the One Week-One Lab program from April 17-21, 2023, aimed at creating awareness about the technologies and services available at NPL, providing solutions to societal problems, sensitizing people about the importance of precise measurements, and developing scientific temperament, especially among students.
Additionally, from April 18-20, 2023, there will be a three-day Start-up/Micro, Small & Medium Enterprises (MSME)/Industry Meet to showcase the services extended by NPL to industries.
Note :
Dr Jitendra Singh highlighted the recent launch of an astronomy lab in Karnal, Haryana, which provides equal opportunities for all, including persons with disabilities. The Indian Sign Language AstroLab, equipped with 65 pieces of equipment, including a large telescope, interactive models, and audio-visual aids, will allow hearing-impaired students to study the sun, moon, and stars and comprehend basic to advanced concepts of space in different languages.
4. US Became India’s biggest Trading Partner in FY23 Followed by China
In the financial year 2022-23 (FY23), the United States (US) has become India's top trading partner with USD 128.55 billion, according to the Ministry of Commerce data.
China secured the second position with USD 113.83 billion.
The bilateral trade between India and the US has increased by 7.65% in FY23, higher than USD 119.5 billion in FY22 and USD 80.51 billion in FY21.
After the US and China, the UAE with USD 76.16 billion was India's third largest trading partner.
Saudi Arabia (USD 52.72 billion) and Singapore (USD 35.55 billion) followed as the fourth and fifth largest trading partners of India, respectively.
Key notes :
India's exports to China decreased by around 28% to USD 15.32 billion in FY23, while imports increased by 4.16% to $98.51 billion. The trade gap between the two countries increased to $83.2 billion in FY23 from $72.91 billion in FY22.
The bilateral trade between India and the US is expected to continue growing in the coming years.
In FY23, India had a trade surplus of $28 billion with the US.
India, as the world's third-largest consumer market and the fastest-growing market economy, provides significant trade opportunities for the US.
5. WPI Inflation eases to 30-month low in March 2023 on Easing Input Prices
According to the Index Numbers of Wholesale Price in India for the Month of March 2023 (Base Year: 2011-12), the annual rate of inflation based on the all-India Wholesale Price Index (WPI) number for the month of March 2023 is 1.34% (Provisional), lower than 3.85% recorded in February 2023.
India’s annual wholesale-price-based inflation (WPI) decreased to its lowest level in nearly 30 months, as input costs continued to decline.
In March 2023, the food index rose 2.32% year-on-year (YoY) compared with 2.76% in February 2023, while fuel and power rose 8.96%, slowing from the 14.82% rate.
WPI on manufactured products fell 0.28%, compared with a fall of 0.14% in February 2023.
The decline in the rate of inflation in March 2023 was mainly due to the fall in prices of basic metals, food products, textiles, non-food articles, minerals, rubber & plastic products, crude petroleum & natural gas, and paper and paper products.
6. 59th Femina Miss India World: Rajasthan’s Nandini Gupta crowned Femina Miss India World - 2023
Nandini Gupta, a 19-year-old from Kota, Rajasthan, was crowned the winner of the 59th edition of Femina Miss India World 2023 on April 15, 2023, in a grand ceremony held at Khuman Lampak Stadium in Imphal, Manipur.
Sini Shetty of Karnataka, the winner of Femina Miss India 2022, crowned Nandini Gupta.
Nandini Gupta will represent India at the 71st edition of Miss World in 2023, which will be held in the United Arab Emirates (UAE).
About Nandini Gupta :
Nandini Gupta was born in 2004 in Kaithun, Kota, Rajasthan, and is currently pursuing a course in Business Management at Lala Lajpat Rai College in Mumbai, Maharashtra .
7. AP Government renamed Bhavanapadu Port in Srikakulam as Mulapeta Greenfield Port
The Bhavanapadu Port in Andhra Pradesh has been renamed as "Mulapeta Greenfield Port" on April 16, 2023.
The decision to rename the port was made by the AP government after requests from farmers of Mulapeta and Vishnuchakram villages, whose lands have been earmarked for acquisition in the proposed port area.
Chief Minister Y S Jagan Mohan Reddy will lay the foundation stone for the greenfield port on April 19.
The proposal for the name change was put forward by Lathkar Srikesh Balajirao, an IAS officer of Srikakulam district, considering that the total land and the project displaced families belong to Mulapeta and Vishnuchakram villages and not Bhavanapadu.
Banking and Finance News :
1. CGTMSE Increased Guarantee Coverage for MSEs from Rs 2 crore to Rs 5 crore
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has raised the maximum coverage limit under its Credit Guarantee Fund Scheme for MSEs from Rs 2 crore to Rs 5 crore per borrower for loans extended to Micro and Small Enterprises (MSEs) by lending institutions.
Aim : To promote lending to MSEs by public and private sector banks, Member Financial Institutions, and foreign banks.
The revised guidelines came into effect from April 1, 2023.
About Credit Guarantee Fund Scheme for MSEs :
(i) The CGTMSE was established by the Ministry of MSMEs and SIDBI to implement the Credit Guarantee Fund Scheme for MSEs.
(ii) The scheme was launched in August 2000 to provide collateral-free credit to MSEs and became operational on January 1, 2000.
(iii) The corpus of CGTMSE is contributed by the Government and SIDBI in a 4:1 ratio.
(iv) The scheme covers collateral-free credit (term loan and/or working capital) provided by eligible lending institutions to new and existing MSEs up to the borrowing limit, which has been increased to Rs 5 crore.
(v) The credit guarantee scheme assures a lender that if an MSE unit fails to discharge its liabilities, then the trust would make good the loss to the tune of 75-85 per cent of the credit facility.
2. SEBI Issued Framework on Upfront Contribution by Issuers for LPCC’s Settlement Guarantee Fund
SEBI, on April 13, 2023, introduced a new framework for the upfront collection of charges from eligible issuers during the allotment of debt securities. The aim is to build the Settlement Guarantee Fund of the Limited Purpose Clearing Corporation (LPCC).
The new framework will be implemented from May 1, 2023.
About the Framework :
The Securities and Exchange Board of India (SEBI) has released a new framework for upfront collection of charges from eligible issuers at the time of allotment of debt securities.
The aim is to build the Settlement Guarantee Fund of the Limited Purpose Clearing Corporation (LPCC).
The LPCC will notify eligible issuers as per its risk management policy.
Collection of 0.5 basis points of the issuance value of debt securities per annum will be held and placed in an escrow account before the allotment of debt securities.
The collected amount will be transferred by the stock exchange to the bank account of the LPCC within one working day of the receipt of the amount.
Stock exchanges will disclose the amount details on their websites.
** The new framework will be effective from May 1, 2023.
Note :
The framework was issued in the exercise of powers under Section 11(1) of the SEBI Act, 1992.
Other News :
1. International Day For Monuments and Sites 2023 - 18th April
International Day for Monuments and Sites, also known as World Heritage Day, is an annual global observance held on April 18 to raise awareness about the importance of historical, heritage, and cultural monuments and ways to safeguard them for future generations.
In 2023, International Day for Monuments and Sites was celebrated on April 18 with the theme "Heritage Changes."
The International Council on Monuments and Sites (ICOMOS) suggests the theme for World Heritage Day each year.
India's Heritage Sites :
(i) India has 40 UNESCO World Heritage Sites out of 1157 identified globally, ranking 6th in the world in terms of World Heritage Sites. Out of these, 32 are cultural sites, 7 are natural sites, and 1 is mixed.
(ii) The Archaeological Survey of India (ASI), under the Ministry of Culture, is the primary organization responsible for conducting archaeological research and protecting India's cultural heritage.
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