Relevance IN - Prelims (about Garib Kalyan Rojgar Abhiyaan) + Mains (GS II Social issues, Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes
What's the NEWS

• To mitigate their difficulties during next 4 months, Government of India has decided to launch a massive rural public works scheme ‘Garib Kalyan Rojgar Abhiyaan' to empower and provide livelihood opportunities to the returnee migrant workers and rural citizens.

• The Prime Minister launched this Abhiyaan on 20th June, 2020 from Village - Telihar, Block- Beldaur of Khagaria District of Bihar.
• This campaign of 125 days, which will work in mission mode, will involve intensified and focused implementation of 25 different types of works to provide employment to the migrant workers on one hand and create infrastructure in the rural regions of the country on the other hand, with a resource envelope of Rs. 50,000 crore.
• The Abhiyaan will be a coordinated effort between 12 different Ministries/Departments, namely, Rural Development, Panchayati Raj, Road Transport & Highways, Mines, Drinking Water & Sanitation, Environment, Railways, Petroleum & Natural Gas, New & Renewable Energy, Border Roads, Telecom and Agriculture.

• Scientists have observed the fifth state of matter (Gases, liquids, solids and plasmas are the other four matters) in space for the first time, offering unprecedented insight that could help solve some of the quantum universe's most intractable conundrums, research

• Its existence was predicted by Albert Einstein and Indian mathematician Satyendra Nath Bose almost a century ago (1920s)
• They are formed when atoms of certain elements are cooled to near absolute zero (0 Kelvin, minus 273.15 Celsius).
• At this point, the atoms become a single entity with quantum properties, wherein each particle also functions as a wave of matter.
• NASA scientists unveiled the first results from BEC experiments aboard the International Space Station, where particles can be manipulated free from Earthly constraints.

• BECs contain vital clues to mysterious phenomena such as dark energy -- the unknown energy thought to be behind the Universe's accelerating expansion.
• BECs are extremely fragile. The slightest interaction with the external world is enough to warm them past their condensation threshold.
• This makes them nearly impossible for scientists to study on Earth, where gravity interferes with the magnetic fields required to hold them in place for observation.

• India continues to remain ranked 43rd on an annual World Competitiveness Index compiled by Institute for Management Development (IMD) published since 1989.
• It ranks 63 countries using 235 indicators grouped under four factors: economic performance, government efficiency, business efficiency and infrastructure.

• Singapore has retained its top position on the 63-nation list.
• Denmark has moved up to the second position (from 8th last year), Switzerland has gained one place to rank 3^rd
• The US has moved down to 10th place (from 3^rd last year), while China has also slipped from 14^th to 20^th place.
• Among the BRICS nations, India is ranked second after China, followed by Russia (50^th), Brazil (56^th) and South Africa (59^th).

• India was ranked 41st on the IMD World Competitiveness Ranking being produced by the business school based in Switzerland and Singapore every year since 1989, but had slipped to 45th in 2017 before improving to 44th in 2018 and then to 43rd in 2019.
• While its overall position has remained unchanged in the 2020 list, it has recorded improvements in areas like long-term employment growth, current account balance, high-tech exports, foreign currency reserves, public expenditure on education, political stability and overall productivity
• It has moved down in areas like exchange rate stability, real GDP growth, competition legislation and taxes.
• Traditional weaknesses of India -- poor infrastructure, an important deficit in education investment, and a health system that does not reach everybody.

Relevance IN - Prelims ( about the new draft guidelines + about HFCs) + Mains ( GS III Economic development)
What's the NEWS

• As the new regulator of housing finance companies (HFCs), the Reserve Bank of India (RBI) proposed to modify the rules governing these firms.
• The RBI took over the powers to regulate HFCs from the National Housing Bank (NHB) in August 2019.

• Housing finance would now mean "financing, for purchase/ construction/ reconstruction/ renovation/ repairs of residential dwelling unit ..." for a whole host of functions that would include giving loans to companies and government agencies for employee housing finance projects.
• All other loans, including those given for furnishing dwelling units, loans given against mortgage of property for any purpose other than buying/ construction of a new dwelling unit or renovation of the existing dwelling unit, will be treated as non housing loans
• To qualify as a housing finance company, 50% of net assets should be to real estate lending of which at least 75% should be towards individual housing loans.
• Those HFCs that do not fulfil the qualification will be treated as NBFC-investment and credit companies (NBFC-ICCs) and will be required to approach RBI for conversion of their certificate of registration from HFCs to NBFC-ICC.

• Non-deposit taking HFCs with asset size of Rs 500 crore and above; and all deposit taking HFCs, irrespective of asset size, will be treated as systemically important HFCs.
• HFCs with asset size below Rs 500 crore will be treated as non-systemically important HFCs
• RBI has proposed to double the minimum net owned funds for HFCs to Rs. 20 crore and align the capital requirements of all HFCs with NBFCs over a period of two years.
• HFCs can either lend to the group company in real estate business or lend to retail individual homebuyers in the projects of group entities but not to both.
• For HFCs, minimum capital risk-weighted assets ratio (CRAR) is currently at 12%, which will be increased to 14% by 31 March 2021 and 15% by 31 March 2022.

Relevance IN - Prelims (about Schizothorax sikusirumensis + about River Siku and Sirum
What's the NEWS

• A new species of fish has been discovered in Arunachal Pradesh

• The new fish species is from genus Schizothorax.
• The fish species is named as Schizothorax sikusirumensis.
• The name of this fish species has been derived from the name of the rivers where it was found.
• This fish was collected from the junction of River Siku and Sirum near Gakang area under Mebo circle of East Siang District.
• The fish inhabits the water logged area of torrential river drainage.

Know! about Siang river

• The Brahmaputra, called Yarlung Tsangpo in Tibet, Siang/Dihang River in Arunachal Pradesh and Luit, Dilao in Assam, is a trans-boundary river which flows through China, India and Bangladesh.
• It is the ninth largest river in the world by discharge, and the 15th longest
• River Siku and Sirum are the tributaries of Siang river

Prelims Factoids
KVIC rolls out project to produce neera,
palmgur

Relevance IN - Prelims ( about neera palmgur)
What's the NEWS

• The Khadi and Village Industries Commission (KVIC) has rolled out a project under which tool kits have been distributed to artisans for extraction of neera and making of palmgur (jaggery).

Know! about Neera

• Neera, extracted from palm trees before sunrise, is a nutrient-rich health drink consumed in many states.
• The project has been rolled out on the initiative of MSME Ministry to start using Neera as soft drinks to make it commercially useful
• Tool kits were distributed to 200 local artisans who were given seven days training.
• KVIC has proposed to start standardised collection, processing and packing of neera under controlled conditions.
• On the lines of coconut water, MSME is working to promote Neera as a substitute to the soft drinks available in the market.
• Neera is organic and rich in nutrients and thus a complete health drink.
• Neera has high export potential as it is also consumed in Sri Lanka, Africa, Malaysia, Indonesia, Thailand and Myanmar.
• India has an abundance of palm fields in states like Maharashtra, Gujarat, Goa, Daman & Diu, Dadra and Nagar Haveli, Tamil Nadu, Uttar Pradesh and Bihar that can make India a leading producer of Neera globally

International
COVID-19 Active Response and Expenditure Support Programme
Relevance IN - Prelims ( about the CARES program ) + Mains ( GS II India and its neighbourhood- relations. Bilateral, regional and global groupings and agreements involving India and/or affecting India's interests

What's the NEWS

• The Government of India and the Asian Infrastructure Investment Bank (AIIB) signed a $750 million "COVID-19 Active Response and Expenditure Support Programme" to assist India to strengthen its response to the adverse impacts of the COVID-19 pandemic on poor and vulnerable households.

Know! more about the support programme

• This is the first ever budgetary support programme from the AIIB to India.
• AIIB's timely financial support will contribute to the effective implementation of the government's COVID-19 Emergency Response Programme.
• The Programme will provide the Government of India with budget support to mitigate the severe adverse social and economic impact of COVID-19.

Know! about the financing pattern

• The current loan will be the second to India from AIIB under its COVID-19 crisis recovery facility apart from the earlier approved $500 million loan for the COVID-19 Emergency Response and Health Systems Preparedness Project.
• The project is being financed by the Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) in the amount of $2.250 billion, of which $750 million will be provided by AIIB and $1.5 billion will be provided by ADB.
• The project will be executed by the Department of Economic Affairs, Ministry of Finance, through various line ministries.

Know! about AIIIB

• The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank with a mission to improve social and economic outcomes in Asia.
• Headquartered in Beijing, AIIB began operations in January 2016 and have now grown to 102 approved members worldwide.

Know! about COVID-19 Active Response and Expenditure Support (CARES) Program

• The Program's objective is to mitigate the adverse impacts of COVID-19 on the health and economic opportunities of the population by providing budgetary support to the government's COVID-19 Response Program.
• The CARES Program is proposed to be supported under AIIB's COVID-19 Crisis Recovery Facility (Facility) and cofinanced with the Asian Development Bank (ADB) as a policy-based loan under its Countercyclical Support Facility COVID-19 Pandemic Response Option (CPRO).
• The Program will provide critically needed support to help the Government mitigate the severe health, social, and economic impact caused by the COVID-19 pandemic.

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