The Government is planning to decrease its shareholding from various Indian companies
According to the recent update the Govt is planning to decrease its shareholding from following companies:
– Bharat Earth Movers Limited
– Garden Reach Shipbuilders and Engineers
– Mishra Dhatu Nigam Limited
Transaction will be done as per market rate and condition (No timeline). The Govt has already decreased its shareholding from GRSE and MIDHANI and collected Rs. 420.52 Cr and 434.12 Cr respectively.
Other PSUs with decreased govt sharing and funds collected by the govt are:
Mazagaon Dock Shipbuilders Limited (974.15 Cr)
Hindustan Aeronautics Limited (14184.70 Cr)
Bharat Dynamics Limited (2371.19 Cr)
Bharat Electric Limited (8073.29 Cr)
Deep Ocean Mission
It is a multi-ministerial multi-disciplinary program.
– To develop deep-sea technology
– To explore deep-sea mineral resources and biodiversity
– For Acquisition of a Research
– For deep-sea observation and capacity building
What is Index Monitoring Cell?
Index Monitoring Cell was a committee set up by the Information and Broadcasting Ministry to improve the ranking of the nation in World Press Freedom Index.
It is a 15 member committee chaired by Kuldeep Singh Dhatwalia (Principal Director General of Press Information Bureau).
Why in News:
Independent journalist P. Sainath urged that the right to dissent should be the central focus of press freedom in the nation, as the Index Monitoring Cell in its recommendation mention clearly anything regarding dissenting.
Decriminalising Defamation (India is among the few nations where defamation is criminalized).
Consent of PCI (Press Council of India) should be necessary to file defamation case against media platforms.
The govt has decided to create a panel to chalk out a plan to study Sarasvati River
The ASI has reconstituted the panel for Multi-disciplinary study of the river.
The panel will be operating for the next two years.
The first tenure of the panel was ended in 2019.
Officials from numerous ministries including culture, tourism, Jal Shakti, Urban Ministries will coordinate with agencies like ISRO and state governments of Haryana, Gujarat, Rajasthan, etc.
The panel will perform following functions:
– To review the work done by the previous panels.
– To formulate new plan.
– To advise government agencies and departments for conducting research.
INS Jalashwa departed for Humanitarian Assistance in Comoros Island with one thousand metric tonnes of rice
About Comoros Island:
It is an island country, situated between the East African coast and Madagascar in the Mozambique Channel.
The capital of the island nation and is Moroni.
The Arab country is a member of Arab league, and is the only Arab country to be located entirely in southern hemisphere of the globe.
It is a member of various groups like African Union, Organization of Islamic Cooperation, and the Indian Ocean Commission.
The Humanitarian Assistance was a commendable initiative taken by India, being an Arab Country and a part of OIC, Comoros has criticized Indian efforts on a different platform. Also, the island nation was standing against India while it devalued the status of Jammu and Kashmir from a state to a Union Territory and its bifurcation from the present-day Ladakh Union Territory.
About Indian Navy Ships:
INS Jalashwa along with INS Magar was also involved in Operation Samudra Setu of the Indian Navy, providing Humanitarian Assistance, Disaster Relief Operations, transporting medical essentials to neighboring countries (including Hydroxychloroquinine and PPT kits), and bringing back Indian diaspora to their ‘Swades’.
INS Arighat is expected to be commissioned in 2021, its induction was planned in 2020, but due to the pandemic, it is delayed by a year. It will be the second Indian Naval Nuclear Submarine and also the second of the Arihant class.
Indian Navy has recently included the INS Karanj into its arsenal, the 3rd Scorpene-Class Submarine developed under the Project-75i with the assistance of the French Naval Arm in Nov 2020.
Project RE-HAB was launched in the state of Karnataka
What is Project RE-HAB?
It is a project which involves the installation of bee boxes along the circumference of the forest with an aim to reduce human-elephant conflicts.
One of the known conflict zone is Nagarhole National Park and Tiger Reserve situated in Karnataka.
What are the advantages of the initiative?
The installation act as a bee fence and generates fear of honeybees among elephant eventually restricts their movement towards human habitation.
The process does not cause any harm to the animal.
It is a cost-effective method to keep humans and elephants at a distance, as the process does not require any fence or digging of trenches.
It is a win-win situation for farmers as bee-keeping will be boosted, eventually, honey production will increase which generates an option of extra income for farmers.
The initiative was implemented by the Khadi and Village Industries Commission’s (KVIC) Honey Mission. The mission was launched on the sidelines of the sweet revolution in 2017. Although the Sweet Revolution is launched in 2016.
About Nagarhole National Park:
Location – It is situated in Nilgiri Biosphere Reserve (mountains situated here are known as the Blue Mountains).
It was established in the 1950s and upgraded to the status of a national park in the late 1980s.
The Nagarhole National Park also known as Rajiv Gandhi National Park was declared the 37th Tiger Reserve of India in the late 1990s. (The project tiger was launched in 1973).
It is a statutory body (was not enumerated in the original constitution) established in 1956 under the Khadi and Village Industries Commission Act.
It plans, promotes, organizes, implements and monitors programs for the development of Khadi and Village industries in rural areas under the Ministry of Micro, Small and Medium Enterprises.
US overtakes Saudi Arabia to become largest oil supplier to India
The United States of America surpassed the Arab country to become the 2nd largest oil supplier to the largest democracy of the world.
The top spot is still held by Iraq instead of facing 23% in purchases during the last 5 months.
The third spot is retained by an African country Nigeria, which means Saudi Arabia slipped to 4th position.
Another Arab country the United States of Emirates (UAE) stands at 5th position
India purchased 8,67,500 Barrels Per Day in Feb 2021 from Iraq.
Whereas, the USA’s Feb 2021 numbers of Barrels Per Day sell to India stands for 5,45,300.
In February 2021, in total India acquired 3.92 million Barrels Per Day oil from all over the world.
India is the third-largest importer of oil followed by the USA and China.
India surpassed Russia to become the 4th Largest Forex Reserve of the World
India becomes the 4th largest country in terms of Foreign Exchange Reserve surpassing Russia. According to India’s Central Bank, Reserve Bank of India, at present the foreign currency holding of India is $580.3 Bn even though the fall of $4 billion was registered. Comparatively, the Forex reserves of Russia are $0.20 Bn less than India.
According to the International Monetary Fund China possesses the largest Forex Reserves followed by Japan, Switzerland, Indian, and Russia.
Why Forex Reserves are important?
It attracts more investors and credit rating agencies.
Why Forex Reserves are stored in US dollars?
Because the US dollars are the most trading currency in the world.
About International Monetary Fund:
HQ- Washington DC
Chairperson- Kristalina Georgieva
Member Countries- 190 Countries
Kalanamak Rice Festival of UP
The Chief Minister of Uttar Pradesh Adityanath has launched the Kalanamak Rice festival, a three-day-long festival in Siddhartha Nagar, Uttar Pradesh.
The festival is inspired by the success of the Strawberry and Jaggery Festival.
Uttar Pradesh was also the first state to launch the concept in the nation in 2018.
The UP Govt declared the Kalanamak Rice as the One District One Product of Siddharth Nagar.
Aim of the festival:
The festival was launched with an aim to brand and promote selected products as One District One Product (ODOP) under the Atmanirbhar Bharat Initiative.
About Kalanamak Rice:
It is fine aromatic rice also known as Buddha Rice.
It consists of rich antioxidants and nutritious which allows regulating blood-related problems and is suitable for diabetic patients.
What is One District One Product?
The concept aims at promoting, the productions, processing, packaging, branding (or rebranding) of a particular crop or agriculture produce of a district to exploit the true potential of the product and increase its value in the international or national market to increase the export and eventually increase the farmer’s income.
What could be the ODOP?
Perishable Agriculture Produces
Cereal Based Product
A food product widely cultivated in the district
India’s First Dedicated Cargo Terminal
For export and import of international courier, a first of its kind dedicated Express Cargo Terminal was inaugurated in the nation at Kempegowda International Airport, Bengaluru. The terminal was developed by Bengaluru International Airport Limited.
The terminal will be operated by the Express Industry Council of India, however, international companies like DHL express and FedEx Express can also be accommodated.
Advantages of Export Cargo Terminal:
The Ease of Doing Business will improve as the terminal will now allow the global logistic providers to reduce the cost and transaction time for the shippers.
It will help the export cargo market in the region, as the airport is the largest cargo airport in South India.
The Cargo processing capacity of the airport will increase from 5,70,000 Metric Tonnes to 7,20,000 Metric Tonnes.
About Express Industry Council of India:
CEO- Vijay Kumar
Other recent updates from important Indian Airports:
– Adani Group acquired 74% stake of the Mumbai International Airport.
– India’s 1st Aviation Weather Monitoring System has been installed at both the runway ends of Kempegowda International Airport.
– India’s first Centralised Airconditioned Railway Terminal starts operation in Bengaluru
– One of the Terminal station of Bengaluru, Baiyappanhalli has been developed to become the first fully airconditioned railway terminal of the country.
– It is also renamed as ‘Sir M Visvesvaraya Terminal’ after the first Indian Civil Engineer, Sir M Visvesraya (Engineer’s Day is celebrated to commemorate him on 15th September).
– Indian Railways has developed the infrastructure of the railways station at a cost of INR 314 Crore.
– The station can operate fifty thousand passengers and 50 trains in a day.
Various modern and facilities for convenience of passengers like VIP Lounge, Food Court, Escalators, Lifts, Subways, etc. are built.
Other Terminal Stations of Bengaluru are:
Krantiveer Sangolli Rayanna Bengaluru City Jn