Daily Current Capsules - 09th July 2020

Infrastructure Development

Cabinet approves Central Sector Scheme of financing
facility under 'Agriculture Infrastructure Fund'

 

Relevance IN - Prelims ( about Agriculture Infrastructure Fund.) + Mains ( GS III infrastructure development + GS II government policies and interventions + GS III financial inclusion)

What's the NEWS

• The Union Cabinet has given its approval to a new pan India Central Sector Scheme-Agriculture Infrastructure Fund.
• The scheme shall provide a medium - long term debt financing facility for investment in viable projects for post-harvest management Infrastructure and community farming assets through interest subvention and financial support.

Know! about the Scheme
Under the scheme, Rs. One Lakh Crore will be provided by banks and financial institutions as loans to

• Primary Agricultural Credit Societies (PACS)
• Marketing Cooperative Societies
• Farmer Producers Organizations (FPOs)
• Self Help Group (SHG)
• Farmers
• Joint Liability Groups (JLG)
• Multipurpose Cooperative Societies
• Agri-entrepreneurs
• Startups
• Aggregation Infrastructure Providers
• Central/State agency or Local Body sponsored Public Private Partnership Project

Know! about the Agri Infra Fund

• All loans under this financing facility will have interest subvention of 3% per annum up to a limit of Rs. 2 crore.
• This subvention will be available for a maximum period of seven years.
• Credit guarantee coverage will be available for eligible borrowers from this financing facility under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for a loan up to Rs. 2 crore.
• Moratorium for repayment under this financing facility may vary subject to minimum of 6 months and maximum of 2 years.
• Agri Infra fund will be managed and monitored through an online Management Information System (MIS) platform.
• The National, State and District level Monitoring Committees will be set up to ensure real-time monitoring and effective feed-back.
• The duration of the Scheme shall be from FY2020 to FY2029 (10 years).

 

Economy
Capital infusion in the three Public Sector General Insurance Companies (PSGICs) approved

Relevance IN - Prelims ( about these three PSGICs + about Capital infusion) + Mains ( GS III Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

What's the NEWS

• The Union Cabinet has approved the capital infusion for an overall value of Rs.12,450 crore;) in the three Public Sector General Insurance Companies (PSGICs) namely Oriental Insurance Company Limited (OlCL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL)

 

Know the impact of capital infusion in the Economy

• The capital infusion will enable the three PSGICs to improve their financial and solvency position, meet the insurance needs of the economy, absorb changes and enhance the capacity to raise resources and improved risk management.

 

• To ensure optimum utilization of the capital being provided, the Government has issued guidelines in the form of Key Performance Indicator (KPIs) aimed at bringing business efficiency and profitable growth.
• In the meanwhile, given the current scenario, the process of merger has been ceased so far and/instead focus shall be on their solvency and profitable growth, post capital infusion.

Government Schemes
Pradhan Mantri Garib Kalyan Yojana for Ujjwala beneficiaries extended

Relevance IN - Prelims ( about PMGKY-Ujjwala + about PM Ujjwala + Mains ( GS II Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes

What's the NEWS

• The Union Cabinet has approved the proposal of Ministry of Petroleum & Natural Gas for extension of time limit by three months w.e.f. 01.07.2020 for availing the benefits of "Pradhan Mantri Garib Kalyan Yojana" for Ujjwala beneficiaries

 

PMGKY-Ujjwala (Highlights)

• Under the PMGKY-Ujjwala, it was decided to provide free of cost refills for PMUY consumers for a period of 3 months w.e.f. 01.04.2020.
• Under the Scheme, Rs. 9709.86 Cr was transferred directly into the bank accounts of Ujjwala beneficiaries during April- June 2020 and 11.97 Crore cylinders were delivered to the PMUY beneficiaries.

Know! about PM - Ujjwala

• Ujjwala is one of Prime Minister administration's flagship pro-poor schemes and is considered the equivalent of Congress-led United Progressive Alliance's rural jobs scheme.

• The scheme has also found traction internationally. A case in point being energy rich Ghana where state run Indian Oil Corporation Ltd (IOCL) will help Ghana's National Petroleum Authority (NPA) expand the country's liquified petroleum gas (LPG) network.

 

• The Ujjwala programme, launched on 1 May, 2016, aims to safeguard the health of women and children and lays the basis for a fundamental material transformation at the bottom of the pyramid by covering 715 districts.

• Under this scheme, 5 Cr LPG connections will be provided to BPL families with a support of Rs.1600 per connection in the next 3 years.

• Ensuring women's empowerment, especially in rural India, the connections will be issued in the name of women of the households.

• Rs. 8000 Cr. Has been allocated towards the implementation of the scheme. Identification of the BPL families will be done through Socio Economic Caste Census Data.

• The government has been trying to reach out to financially weaker sections, migrant workers and farmers, even as the lockdown hurt small businesses, major job creators and the backbone of the Indian economy.

Infrastructure Development

Cabinet approves developing of Affordable rental housing Complexes for urban migrants / poor

Relevance IN - Prelims ( about AHRCs + about PMAY-U) + Mains ( GS III infrastructure development + GS II Government policies and interventions for development in various sectors and issues arising out of their design and implementation + Welfare schemes for vulnerable sections of the population

What's the NEWS

• The Union Cabinet has given its approval for developing of Affordable Rental Housing Complexes (AHRCs) for urban migrants / poor as a sub-scheme under Pradhan MantriAwasYojana - Urban (PMAY - U)

Know! the features of ARHCs

• An expenditure of Rs 600 Crore is estimated in the form of Technology Innovation Grant which will be released for projects using identified innovative technologies for construction.
• ARHCs will create new ecosystem in urban areas making housing available at affordable rent close to the place of work.
• Investment under ARHCs is expected to create new job opportunities. ARHCs will cut down unnecessary travel, congestion and pollution.
• Government funded vacant housing stock will be converted into ARHCs for economically productive use.
• The scheme would create a conducive environment for Entities to develop AHRCs on their own vacant land which will enable new investment opportunities and promote entrepreneurship in rental housing sector.

Know! about ARHCs

• Ministry of Housing & Urban Affairs (MoHUA) has initiated an Affordable Rental Housing Complexes (ARHCs) for urban migrants/poor as a sub-scheme under Pradhan MantriAwasYojana (Urban).

• The scheme was announced by the Hon'ble Finance Minister on 14 May, 2020. This scheme seeks to fulfill the vision of 'AtmaNirbhar Bharat.

• The scheme will be launched under the Pradhan Mantri Awas Yojana (PMAY) by converting government funded housing in the cities into Affordable Rental Housing Complexes under PPP (public-private partnership) mode through concessionaire.

 

• The government will incentivise manufacturing units, industries and institution associations to develop ARHC on their private land

• In a similar line, central and state government agencies will also be incentivised to develop ARHC and operate

• The government had launched Pradhan Mantri Awas Yojana Grameen and Pradhan Mantri Awas Yojana Urban in 2015 under the 'Housing for All' initiative.

• The government, which targets to build 5 crore houses by 2022, has proposed a PPP policy for the affordable housing segment.

 

Prelims Factoids
MoRTH prepares blueprint for scheme of cashless treatment of motor accident victims

Relevance IN - Prelims ( about the scheme + about Motor Vehicle Accident Fund + about NHA )

What's the NEWS

• The Road Transport and Highways Ministry has prepared a blueprint for implementing the scheme of cashless treatment of motor accident victims.

Know! the important features of the Scheme

• The scheme includes creation of a Motor Vehicle Accident Fund.The National Health Authority has been entrusted to implement the scheme.
• The scheme to provide compulsory insurance cover to all road users in the country.
• The fund would be utilized for treatment of road accident victims and for payment of compensation to the injured or to the family of person losing life in hit and run cases. This includes treatment of victims during the crucial Golden hour.
  
• Golden hour refers to the first hour after the accident during which if first aid or treatment is administered, the chances of survival of the victim drastically improve.

Know! about NHA

• National Health Authority (NHA) is the apex body responsible for implementing India's flagship public health insurance/assurance scheme called "Ayushman Bharat Pradhan Mantri Jan Arogya Yojana."
• National Health Authority is the successor of the National Health Agency, which was functioning as a registered society since 23rd May, 2018.
• Pursuant to Cabinet decision for full functional autonomy, National Health Agency was reconstituted as the National Health Authority on 2nd January 2019,
• NHA has been set-up to implement PM-JAY, as it is popularly known, at the national level. An attached office of the Ministry of Health and Family Welfare with full functional autonomy
• NHA is governed by a Governing Board chaired by the Union Minister for Health and Family Welfare.

Prelims Factoids

Global Real Estate Transparency Index

Relevance IN - Prelims ( about GRETI and Index highlights)

What's the NEWS

• India's real estate industry has registered one of the largest improvements globally and regionally in Jones Lang LaSalle's (JLL) biennial Global Real Estate Transparency Index (GRETI).

Know! the Index Highlights

• The country ranks 34th globally on the index with higher levels of transparency observed in India due to regulatory reforms, enhanced market data and sustainability initiatives.

 

• The improvement is led by the progress in the country's REIT framework attracting greater interest from institutional investors.

• India has also edged into the top 20 for Sustainability Transparency through the active role of organisations like the Indian Green Building Council and Green Rating for Integrated Habitat Assessment.

• India has seen a steady improvement in the Global Transparency Index over the years.

• JLL and LaSalle have been tracking real estate transparency and championing higher standards since 1999. This 11th edition of GRETI covers 99 countries and territories, and 163 city regions.

• The latest survey has been extended to quantify 210 separate elements of transparency with additional coverage on sustainability and resilience, health and wellness, proptech and alternatives sectors.

Know! the key structural reforms in real estate sector

• Real Estate Regulation and Development Act 2016 (RERA), GST, Benami Transaction Prohibition (Amendment) Act, 2016, Insolvency and Bankruptcy Code, digitization of land records have brought about greater transparency

 

Know! about IGBC

• The Indian Green Building Council (IGBC), part of the Confederation of Indian Industry (CII) was formed in the year 2001.

• The vision of the council is, "To enable a sustainable built environment for all and facilitate India to be one of the global leaders in the sustainable built environment by 2025".

 

• The council offers a wide array of services which include developing new green building rating programmes, certification services and green building training programmes. The council also organises Green Building Congress, its annual flagship event on green buildings.

 

• The council also closely works with several State Governments, Central Government, World Green Building Council, bilateral multi-lateral agencies in promoting green building concepts in the country.

Know! about Green Rating for Integrated Habitat Assessment(GRIHA)

• GRIHA attempts to minimize a building's resource consumption, waste generation, and overall ecological impact to within certain nationally acceptable limits / benchmarks.
• GRIHA attempts to quantify aspects such as energy consumption, waste generation, renewable energy adoption, etc. so as to manage, control and reduce the same to the best possible extent.
• GRIHA is a rating tool that helps people assesses the performance of their building against certain nationally acceptable benchmarks.
• It evaluates the environmental performance of a building holistically over its entire life cycle, thereby providing a definitive standard for what constitutes a ‘green building'.
• The rating system, based on accepted energy and environmental principles, will seek to strike a balance between the established practices and emerging concepts, both national and international.
• GRIHA was adopted as the national rating system for green buildings in 2007
• It was developed by TERI with support from Ministry of New and Renewable Energy (MNRE).
• GRIHA Council which is an independent platform for the interaction on scientific and administrative issues related to sustainable habitats issues GRIHA ratings

The Energy and Resources Institute (TERI)

• It is a not-for-profit, policy research organization - working in the fields of energy, environment, and sustainable development
• It was stablished in 1974 as Tata Energy and Resource Institute
• It is an independent research institute, headquartered in Delhi, that conducts research work in the fields of energy, environment and sustainable development.

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