Daily Current Capsules
19th and 20th December 2022

 

First-ever ‘Surety Bond Insurance' for infrastructure projects launched

 

What's the NEWS

• Union Minister for Road Transport and Highways launched one of India's first-ever Surety Bond Insurance product from Bajaj Allianz.

Surety Bond Insurance

• Surety Bond Insurance will act as a security arrangement for infrastructure projects and will insulate the contractor as well as the principal.
• The product will cater to the requirements of a diversified group of contractors, many of whom are operating in today's increasingly volatile environment.
• The Surety Bond Insurance is a risk transfer tool for the Principal and shields the Principal from the losses that may arise in case the contractor fails to perform their contractual obligation.
• The product gives the principal a contract of guarantee that contractual terms and other business deals will be concluded in accordance with the mutually agreed terms.
• In case the contractor doesn't fulfil the contractual terms, the Principal can raise a claim on the surety bond and recover the losses they have incurred.
• Unlike a bank guarantee, the Surety Bond Insurance does not require large collateral from the contractor thus freeing up significant funds for the contractor, which they can utilize for the growth of the business.
• The product will also help in reducing the contractors' debts to a large extent thus addressing their financial worries.
• The product will facilitate the growth of upcoming infrastructure projects in the country.

 

Swadesh Darshan and PRASHAD Scheme

What's the NEWS

• Ministry of Tourism (MoT) under its Schemes of Swadesh Darshan, Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASHAD) and Assistance to Central Agencies provides assistance to the State Governments/Union Territory Administrations/Central Agencies for development of Tourism infrastructure in the country.
• The projects for development under the schemes are identified in consultation with the State Governments/Union Territory Administrations/Central Agencies
• The Ministry has now revamped its Swadesh Darshan scheme as Swadesh Darshan 2.0 (SD2.0) with the objective to develop sustainable and responsible tourism destinations, following a tourist & destination centric approach.
• Gaya and Nalanda have been selected for development under SD2.0 whereas Punaura Dham in Sitamarhi District of Bihar is a site identified for development under PRASHAD Scheme of MoT.

 

Swadesh Darshan Scheme

• It is a Central Sector scheme launched in 2014-15 by the Ministry of Tourism and Culture ,Government of India for the integrated development of theme-based tourist circuits.
• The scheme aims to promote, develop and harness the potential of tourism in India.
• Under the Swadesh Darshan scheme, the Ministry of Tourism provides Central Financial Assistance - CFA to State Governments, Union Territory Administrations for the infrastructure development of circuits.

 

Theme-based tourism

• The entire scheme is based on theme-based tourism. Each theme is called a "circuit" and composed of various tourist destinations.
• Tourist Circuit is defined as "a route having at least three major tourist destinations which are distinct and apart.
• Circuits should have well defined entry and exit points.
• A tourist who enters should get motivated to visit most of the places identified in the circuit."

List of circuits

1. Buddhist circuit
2. Coastal circuit
3. Desert circuit
4. Eco circuit
5. Heritage circuit
6. Himalayan circuit
7. Krishna circuit
8. North-East circuit
9. Ramayana circuit
10. Rural circuit
11. Spiritual circuit
12. Sufi circuit
13. Tirthankar circuit
14. Tribal circuit
15. Wildlife circuit

 

PRASAD scheme

  

 

 

• The Government of India launched the PRASAD scheme in the year 2014-2015 under the Ministry of Tourism.
• The full form of the PRASAD scheme is ‘Pilgrimage Rejuvenation And Spiritual Augmentation Drive'.
• This scheme focuses on developing and identifying pilgrimage sites across India for enriching the religious tourism experience.
• It aims to integrate pilgrimage destinations in a prioritised, planned and sustainable manner to provide a complete religious tourism experience. The growth of domestic tourism hugely depends on pilgrimage tourism.
• For tapping the potential of pilgrimage tourism, there is a need for holistic development of the selected pilgrimage destinations by the government along with the cooperation of other stakeholders.
• The PRASAD scheme aims at paving the way for the development and promotion of religious tourism in India.

 

ATL Marathon 2022-23

What's the NEWS

• Atal Innovation Mission (AIM), NITI Aayog opened applications for ‘ATL Marathon 2022-23'- a flagship innovation challenge under AIM's Atal Tinkering Labs program.

Know! about the Marathon

• ATL Marathon is a national level innovation challenge for young innovators across India who can solve community problems of their choice, develop innovative solutions in the form of working prototypes or, minimum viable product (MVP).
• The last edition of the Marathon witnessed 7000+ innovations, the top 350 of them got internship opportunities with reputed companies in India, prizes and certificates from AIM, NITI Aayog.
• The theme for this edition of ATL Marathon is "India's G20 Presidency".
• AIM has designed the problem statements based on G20's working group inspiring recommendations on internationally relevant issues in respective areas of the focus.
• The idea is to create a huge opportunity for students to innovate not just for the better India but for the world by resolving global problems in various sectors.
• This year, students have the option of submitting projects in areas apart from the specified themes.
• Students will be able to solve local community problems different from the problem statements given.
• ATL Marathon 2022-23 is available in Hindi also.
• Top teams will get an Internship opportunity through the Student Innovator Program with leading corporates & Incubation Centres of India, certificates from AIM, NITI Aayog and many more exciting opportunities.

 

Problem statement sectors

 

1. Education
2. Health
3. Agriculture
4. Environment & Climate Sustainability
5. Development
6. Digital Economy
7. Tourism
8. Others (Identify your own problem and solve it)

 

Climate Change Performance Index

 

What's the NEWS

• The Climate Change Performance Index 2023 report was released recently and India secured 8th position in the index which is 2 positions up from the last edition.
• Since no country was strong enough in all index categories to achieve an overall very high rating, thus the top three places i.e 1-3 are vacant.
• Thereafter India is amongst the top 5 countries.
• With India (8th), the United Kingdom (11th), and Germany (16th), only three G20 countries are among the high performers in CCPI 2023.Thus India's rank is the best amongst the G 20 countries.

The rating of India in various components of CCPI is as follows- 

GHG Emissions                   High

Renewable Energy         Medium

Energy Use                       High

Climate Policy               Medium

 

Steps taken by India

• The government has recently updated Nationally Determined Contributions (NDC) submitted by India to UNFCCC under the Paris Agreement.

These include

1. Targets to reduce the Emissions intensity of its GDP by 45 percent by 2030, from 2005 level
2. To achieve about 50 percent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030, with the help of transfer of technology and low-cost international finance including from Green Climate Fund (GCF)
3. Create an additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through additional forest and tree cover by 2030.

 

 

• India has also submitted its Long-Term Low Emission Development Strategy to the United Nations Framework Convention on Climate Change (UNFCCC)
• Government has also launched a flagship programme Perform, Achieve and Trade with an aim to reduce Specific Energy Consumption (SEC) i.e. energy use per unit of production for Designated Consumers (DCs) in energy intensive sectors.
• Ujala scheme launched by the Government has led to the distribution of 36.86 crore LED bulbs resulting in energy saving of 47,876 million kWh of electricity per annum
• Government has declared the trajectory for Renewable Purchase Obligation (RPO) up to the year 2030 and is promoting Electric Vehicles and creation of charging infrastructure in the country.
• Eco-clubs have been formed in schools and colleges to educate students and to spread awareness on environmental issues.
• Resource Centres under EIACP (Environment Information, Awareness and Capacity Building) are also leveraged to spread awareness about environment.
• The Ministry also organized 3rd International Day of Clean Air for blue skies as ‘Swachh Vayu Diwas ("Swachh Vayu Neel Gagan")' to raise awareness and facilitate actions to improve air quality under National Clean Air Programme

 

Agni-V can now strike targets beyond 7,000 km

 

 

What's the NEWS

 

• Agni-V which was successfully tested from Odisha can go beyond 7,000 km, as its weight has been reduced by 20%,
• The Defence Research and Development Organisation has been able to reduce the weight of the Agni-V missile by replacing the steel content with composite materials
• Agni-3 weighs around 40 tonnes and can strike targets at 3,000 km while the Agni-4 weighs more than 20 tonnes and can cover a much longer range.
• The extended range of the missile which is part of the Strategic Forces Command will give a variety of options to the planners during times of conflict
• The recent test provides India with stronger deterrence against China, which has a huge nuclear arsenal and missiles like the Dong Feng-41 (12,000-15,000-km) that can hit any Indian city.

 

Know! about Agni V

 

• Agni V uses a three-stage solid-fuelled engine and is capable of striking targets at ranges up to 5,000 kilometres with a very high degree of accuracy
• The successful test of Agni-V is in line with India's stated policy to have 'credible minimum deterrence' that underpins the commitment to 'No First Use'
• The Agni V is operationally better than earlier Agni variants because it is a canister-launch missile to ensure less maintenance as well as swifter transportation and firing.
• The missile uses a three-stage solid-fuelled engine

 

 

National Science Foundation (NSF)'s Science & Engineering Indicators 2022 report

What's the NEWS

• India has jumped from 7th to 3rd global ranking in scientific publications.
• As per the National Science Foundation (NSF)'s Science & Engineering Indicators 2022 report of the United States, India's position globally in scientific publications, has improved from 7th position in 2010 to 3rd position in 2020.

Other Highlights

• India's scholarly output increased from 60,555 papers in 2010 to 1,49,213 papers in 2020.
• India now ranks 3rd in terms of number of PhDs in science and engineering.
• The number of patents granted to Indian scientists at India Patent Office (IPO) during the last three years has also increased from 2511 in 2018-19 to 4003 in 2019-20 and 5629 in 2020-21.
• As per the Global Innovation Index (GII) 2022 brought out by World Intellectual Property Organization (WIPO), India's GII ranking has also improved significantly from 81st in 2014 to 40th position in 2022.

National Science Foundation

• The National Science Foundation is an independent agency of the United States government that supports fundamental research and education in all the non-medical fields of science and engineering.

Indian Historical Records Committee

 

What's the NEWS

• The 63rd Session of the IHRC organized recently in Lucknow.

Indian Historical Records Committee (IHRC)

• It is an all India Forum of creators, custodians and users of records which was set up in 1919 to advice the Government of India on all issues connected with the management of records and their use for historical research.
• The National Archives of India, New Delhi is the Secretariat of Indian Historical Records Committee (re-designated Indian Historical Records Committee in 1911).
• The IHRC is headed by the Union Minister of Culture and comprises 134 members including agencies of the Government of India, nominees of the Government of India, representatives from the State/UT Archives, Universities and Learned Institutions.

 

North Eastern Council (NEC)

What's the NEWS

• Prime Minister will grace the Golden Jubilee celebration of the North Eastern Council (NEC) at Shillong on 18th December 2022.
• He will address an official meeting of the NEC as well as a public meeting on this occasion.

North Eastern Council (NEC)

• It was established by an Act of the Parliament in 1971.
• It was formally inaugurated on 7th November, 1972 at Shillong, and has completed 50 years in November 2022.
• The "GOLDEN FOOTPRINTS", a commemorative volume chronicling NEC's contribution towards the development of the North Eastern Region over the last fifty years, has been released during the Golden Jubilee event.

 

KEEP Learning KEEP Evolving
TEAM CL