PIB Analysis : 5th July

PIB Analysis for UPSC CSE

Topics Covered

1. New Space India Ltd
2. 10 Point Vision for the decade
3. Social Stock exchange
4. Jal jeevan mission
5. Pradhan Mantri Karam Yogi Maandhan Scheme.
6. SFURTI, ASPIRE & Pradhan Mantri Matsya Sampada Yojana
7. Sabka Vishwas Legacy Dispute Resolution Scheme
8. Facts for Prelims : Credit Guarantee Enhancement Corporation, Operation Vijay

Note : Key Highlights of the budget will be covered separately

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1 . New Space India Ltd

Context : Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman said that a Public Sector Enterprise New Space India Limited (NSIL) has been incorporated as a new commercial arm of Department of Space to tap the benefits of the Research & Development carried out by ISRO.

Objectives of the New Company

• The Company will spearhead commercialization of various space products including production of launch vehicles, transfer to technologies and marketing of space products.
• To tap the benefits of R&D carried out by ISRO
• With the setting up of a new commercial arm-New Space India Limited (NSIL)- the Indian space agency will now be able to produce fast its new rocket Small Satellite Launch Vehicle (SSLV) and commercialise its other technologies.
• As per the scheme of things, NSIL will obtain the licence from Department of Space/ISRO and sub-licence to industries for manufacturing of small rockets.
• It will also be involved in marketing spin-off technologies and products/services, both in India and abroad, and in any other subject which the government deems fit.

2 . 10 Point Vision for the decade

Context : Citing its genesis in the Interim Budget 2019-20 presented in February 2019, the Finance Minister flagged ten points of the Government’s ‘Vision for the Decade’:

10 Point Vision for Decade

1. Building physical and social infrastructure;
2. Digital India reaching every sector of the economy;
3. Pollution free India with green Mother Earth and Blue Skies;
4. Make in India with particular emphasis on MSMEs, Start-ups, Defence manufacturing, automobiles, electronics, fabs and batteries, and medical devices;
5. Water, water management, clean Rivers;
6. Blue Economy;
7. Space programmes. Gaganyan, Chandrayan and Satellite programmes;
8. Self-sufficiency and export of food-grains, pulses, oilseeds, fruits and vegetables;
9. Healthy society – Ayushman Bharat, well-nourished women & children. Safety of citizens;
10. Team India with Jan Bhagidari. Minimum Government Maximum Governance.

3 . Social Stock Exchange

Context : Budget Proposes to set up Social Stock Exchange

About Social Stock Exchange

• The social exchange platform is an innovative measure to involve public participation in social causes through the equity route
• To meet various social welfare objectives related to inclusive growth and financial inclusion budget proposes to initiate steps towards creating an electronic fund raising platform – a social stock exchange – under the regulatory ambit of Securities and Exchange Board of India (SEBI) for listing social enterprises and voluntary organizations working for the realization of a social welfare objective so that they can raise capital as equity, debt or as units like a mutual fund.

4 . Jal jeevan mission

About Jal Jeevan Mission

• This Mission, under the Department of Drinking Water and Sanitation, will focus on integrated demand and supply side management of water at the local level, including creation of local infrastructure for source sustainability like rainwater harvesting, groundwater recharge and management of household wastewater for reuse in agriculture.
• The Jal Jeevan Mission will converge with other Central and State Government Schemes to achieve its objectives of sustainable water supply management across the country.

5 . Pradhan Mantri Karam Yogi Maandhan Scheme.

Context : Finance Minister Nirmala Sitharaman in her maiden Budget speech announced that the pension benefits will be extended to 3 crore retail traders under the Pardhan Mantri Karam Yogi Maan Dhan Yojana.

About Pradhan Mantri Karam Yogi Maandhan Scheme

• The new scheme under the Pardhan Mantri Karam Yogi Maan Dhan Yojana is a voluntary and contributory pension scheme.
• The scheme will work on a 50:50 contribution basis where a prearranged age-specific payment shall be made by the recipient and a matching contribution by the central government.
• Under the scheme trading community, shopkeepers and retail traders will receive a guaranteed monthly pension amount of Rs 3,000 after they reach the age of 60 years.
• The scheme aims to benefit over 3 crore traders and shopkeepers with turnover of below Rs 1.5 crore.

6 . SFURTI, ASPIRE & Pradhan Mantri Matsya Sampada Yojana

Context : The Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman said that the Government aims to set up more Common Facility Centres (CFCs) under the ‘Scheme of Fund for Upgradation and Regeneration of Traditional Industries’ (SFURTI). It will facilitate cluster based development to make the traditional industries more productive, profitable and capable for generating sustained employment opportunities. The focused sectors are Bamboo, Honey and Khadi clusters. SFURTI envisions setting up of 100 new clusters during 2019-20 to enable 50,000 artisans to join the economic value chain.

About SFURTI

• SFURTI is Scheme of Fund for Regeneration of Traditional Industries.
• Ministry of Micro Small and Medium Enterprises (MSME), Govt. of India has launched this scheme in the year 2005 with the view to promote Cluster development.
• As per the revised guidelines, the following schemes are being merged into SFURTI:
  • The Scheme for Enhancing Productivity and Competitiveness of Khadi Industry and Artisans
  • The Scheme for Product Development, Design Intervention and Packaging (PRODIP)
  • The Scheme for Rural Industries Service Center (RISC) and
  • Other small interventions like Ready Warp Units, Ready to Wear Mission, etc.

Objectives of Scheme

• To organize the traditional industries and artisans into clusters to make them competitive and provide support for their long term sustainability and economy of scale;
• To provide sustained employment for traditional industry artisans and rural entrepreneurs;
• To enhance marketability of products of such clusters by providing support for new products, design intervention and improved packaging and also the improvement of marketing infrastructure;
• To equip traditional artisans of the associated clusters with the improved skills and capabilities through training and exposure visits;
• To strengthen the cluster governance systems with the active participation of the stakeholders, so that they are able to gauge the emerging challenges and opportunities and respond to them in a coherent manner;
• To build up innovated and traditional skills, improved technologies, advanced processes, market intelligence and new models of public – private partnerships, so as to gradually replicate similar models of cluster – based regenerated traditional industries
• To make a paradigm shift from a supply driven selling model to a market driven model with the right branding, focus product mix and correct positioning and right pricing to make the offering holistic and optimal for each of the focus categories.
• To tap the E-Commerce as a major marketing channel given the outreach and the growing market penetration of E-Commerce, the re is a need to devise a quick strategy to make its presence felt in the E – Retail space.

About ASPIRE

• The Scheme for Promotion of Innovation, Rural Industry and Entrepreneurship’ (ASPIRE) has been consolidated for setting up of Livelihood Business Incubators (LBIs) and Technology Business Incubators (TBIs).
• The Scheme contemplates setting up 80 Livelihood Business Incubators (LBIs) and 20 Technology Business Incubators (TBIs) in 2019-20 to develop 75,000 skilled entrepreneurs in agro-rural industry sectors.

Pradhan Mantri Matsya Sampada Yojana

• Pradhan Mantri Matsya Sampada Yojana (PMMSY) – Through the Scheme the Department of Fisheries will establish a robust fisheries management framework.
• This will address critical gaps in strengthening the value chain, including infrastructure, modernization, traceability, production, productivity, post-harvest management, and quality control.

7 . Sabka Vishwas Legacy Dispute Resolution Scheme

About Sabka Vishwas Legacy Dispute Resolution Scheme

• The budget proposes a dispute resolution-cum-amnesty scheme, called “the Sabka Vishwas Legacy Dispute Resolution Scheme, 2019” that will allow quick closure of litigations from pre-GST regime,
• The relief under the scheme varies from 40 percent to 70 percent of the tax dues for cases other than voluntary disclosure cases, depending on the amount of tax dues involved.
• The scheme also provides relief from payment of interest and penalty. The person discharged under the scheme shall also not be liable for prosecution. 

8 . Facts for Prelims

Credit Guarantee Enhancement Corporation

• To enhance sources of capital for infrastructure financing, the Central government will set up a Credit Guarantee Enhancement Corporation in the current financial year 2019-20, Finance Minister Nirmala Sitharaman
• A Credit Guarantee Enhancement Corporation for which regulations have been notified by the RBI, will be set up in 2019-20.

Operation Vijay

• Gen Bipin Rawat, Chief of the Army Staff released Kargil Tribute Song to honour, salute and pay homage to the Kargil martyrs and war veterans.
• Operation Vijay involved major operations to evict Pakistani intruders from Indian territory of Dras, Kargil, Batalik and Turtuk and bears witness to the courage, valour and sacrifice of the soldiers of the Indian armed forces.
• The 20^th anniversary celebrations are aimed at ‘Remembering their sacrifice’, ‘Rejoicing in their victory’ and ‘Renewing the pledge’ to go beyond the call of duty when called upon.