Relevance IN - Prelims (about CovidGyan and its objective)
What's the NEWS

• To bring the scientific and factual aspects of this pandemic outbreak on to public domain, a multi-institutional, multi-lingual science communication initiative, called `CovidGyan' has been created.
• The initiative is the brainchild of Tata Institute of Fundamental Research (TIFR), Indian Institute of Science (IISc), and Tata Memorial Centre (TMC).

Know! more about the initiative

• An outcome of this initiative is the launch of a website that went live on April 03, 2020.
• This website also named CovidGyan serves as a hub to bring together a collection of resources in response to the COVID-19 outbreak.
• These resources are generated by public supported research institutions in India and associated programs.
• The content presented here relies on the best available scientific understanding of the disease and its transmission.
• The primary objective of this website is to create public awareness and bring in a holistic approach to the understanding of this disease and potential means to mitigate it.
• The id of the website is: https://covid-gyan.in

Science & Technology
IUSSTF boosts Indo-US virtual networks to address COVID 19 challenges

Relevance IN - Prelims (about the virtual mechanism + about IUSSTF) + Mains (GS II Bilateral relations + GS III awareness in the field of S&T)
What's the NEWS

• The Indo-U.S. Science and Technology Forum (IUSSTF), has invited Proposals for ‘COVID-19 Indo-U.S. Virtual Networks' that would allow Indian and U.S. scientists and engineers currently engaged in COVID-related research to carry out joint research activities through a virtual mechanism, leveraging existing infrastructure and funding.
• The IUSSFT is booting such collaborations for this specific purpose in keeping with their core mandate to catalyze collaborative initiatives across both countries.

Know! about IUSSTF

• The IUSSTF established under an agreement between the Governments of India and the United States of America in March 2000 is an autonomous bilateral organization jointly funded by both the Governments that promotes Science, Technology, Engineering, and Innovation through substantive interaction among government, academia, and industry.
• The Department of Science and Technology, Governments of India, and the U.S. Department of State are respective nodal departments.

Agriculture & Farmers Welfare
National Agriculture Market portal e-NAM to Complete four Years on 14th April 2020

Relevance IN - Prelims (about e-NAM and its objective) + Mains (GS III e-technology in the aid of farmers
Know! all about e-NAM

• National Agriculture Market or eNAM is an online trading platform for agricultural commodities in India.
• e-NAM was an innovative initiative in agricultural marketing to enhance farmers accessibility digitally to multiple number of markets & buyers and to bring transparency in trade transactions with the intent to improve price discovery mechanism, quality commensurate price realization and also to develop the concept of One Nation One Market for agriculture produce.
• To make the marketing of commodities easier for farmers, e-NAM was envisioned and launched by Prime Minster in 21 mandis on 14th April, 2016 which has now reached 585 mandis across 16 States and 02 UTs.
• Farmers are free to register on e-NAM portal and they are uploading their produce for sale online to the traders across all e-NAM mandis and traders can bid for the lots available for sale on e-NAM from any location.
• The market facilitate farmers, traders and buyers with online trading in commodities.
• Over 90 commodities including staple food grains, vegetables and fruits are currently listed in its list of commodities available for trade.
• The eNAM markets are proving popular as the crops are weighed immediately and the stock is lifted on the same day and the payments are cleared online.
• It was launched by the Ministry of Agriculture, Government of India.
• The Portal is managed by Small Farmers' Agribusiness Consortium (SFAC) with the technology provider, NFCL's iKisan division.
• On the ENAM platform, farmers can opt to trade directly on their own through the mobile app or through registered commission agents.

Economy
RBI should implement 'Helicopter Money' to counter economic crisis

Relevance IN - Prelims (about Helicopter Money + about FRBM act) + Mains (GS III Economic development)
What's the NEWS

• Telangana Chief Minister K. Chandrashekar Rao has suggested RBI to adopt the concept of Helicopter Money to help state governments tide over the current crisis and kickstart economic activity in India

Statement stated by the Telangana CM

• To counter (economic crisis) this we need a strategic economic policy. RBI should implement quantitative easing policy. This is called Helicopter Money.
• This will facilitate the states and financial institutions to accrue funds. We can come out of the financial crisis. Release 5 percent of funds from the GDP through Quantitative Easing Policy.
• The chief Minister K Chandrashekar Rao wanted the Union Government to increase the FRBM (Fiscal Responsibility and Budget Management) limit to five per cent from the present three per cent to help the States sail through the financial crisis.

Know! about Helicopter Money

• This is an unconventional monetary policy tool. It involves printing money and distributing it to the public. Milton Friedman coined this term. It basically denotes a helicopter dropping money from the sky. Friedman used the term to signify "unexpectedly dumping money onto a struggling economy with the intention to shock it out of a deep slump.
• Under such a policy, a central bank "directly increase the money supply and, via the government, distribute the new cash to the population with the aim of boosting demand and inflation
• It basically means non-repayable money transfer from the central bank to the government. It seeks to goad people into spending more and thereby boost the sagging economy.
• The policy aims at putting more money into the pockets of people to nudge them to spend more money and in turn pick-up economic activity in the country.
• The direct impact of Helicopter Money is rise in disposable incomes of the people, increase in money supply with an intention to boost demand and inflation in the economy.

Know! about Fiscal Responsibility and Budget Management (FRBM)

• The Fiscal Responsibility and Budget Management (FRBM) Act, 2003, intends to bring transparency and accountability in the conduct of the fiscal and monetary actions of the government.
• The rules set targets for the phased reduction of the fiscal deficit to acceptable levels. It requires the government to limit the fiscal deficit to 3% of the GDP by 31 March 2021 and the debt of the central government to 40% of the GDP by 2024-25, among others.
• The Act provides room for deviation from the annual fiscal deficit target under certain conditions.
• The government is also required to provide the Parliament details of fiscal indicators such as fiscal, revenue and primary deficit as a percentage of GDP, tax and non-tax revenues as a percentage of GDP, and central government debt as a percentage of GDP.

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