Goaltide Daily Current Affairs 2022

Mar 25, 2022

Current Affair 1:
Export Promotion


Government is encouraging and promoting Indian exports in international markets and initiate suitable interventions from time to time. The key schemes/interventions taken are:

  1. Market Access Initiative (MAI) Scheme provides assistance to Export Promotion Organizations/Trade Promotion Organizations/National Level Institutions/ Research Institutions/Universities/Laboratories, Exporters etc., for enhancement of exports through accessing new markets or through increasing the share in the existing markets.
  2. Transport and Marketing Assistance (TMA) for Specified Agriculture Products’ provides assistance for the international component of freight, to mitigate the freight disadvantage for the export of agriculture products, and marketing of agricultural products, is under implementation.
  3. Assistance to the exporters of agricultural products is also available under the Export Promotion Schemes of Agricultural & Processed Food Products Export Development Authority (APEDA), Marine Products Export Development Authority (MPEDA), Tobacco Board, Tea Board, Coffee Board, Rubber Board and Spices Board.
  4. Districts as Export Hubs Initiative’ for products and services with export potential have been identified in all districts of the country.
  5. Trade Infrastructure for Export Scheme (TIES) provides assistance to Central and State Government agencies for creation of appropriate infrastructure for growth of exports.
  6. Remission of Duties and Taxes on Exported Products (RoDTEP) provides remission of Central, State and Local duties/taxes/levies which are incurred in the process of manufacture and distribution of exported products, but are currently not being refunded under any other duty remission scheme.
  7. Common Digital Platform for Certificate of Origin to facilitate trade and increase FTA utilization by exporters.
  8. 12 Champion Services Sectors have been identified for promoting and diversifying services exports by pursuing specific action plans.
  9. Active role of EPCs, Commodity Boards and Indian missions abroad towards promoting India’s trade, tourism, technology and investment goals has been enhanced.

Current Affair 2:
New Patent Rights


Under the Patent Act, 1970, every patentee and every licensee is required to furnish detail in Form 27, regarding the extent to which the patented invention has been worked on a commercial scale in India on an annual basis and not the information on commercial success of said patented invention.


Current Affair 3:
Investment from Land Border Sharing Countries


In order to curb opportunistic takeovers/acquisitions of Indian companies due to the COVID-19 pandemic, Government amended the FDI policy whereby an entity of a country, sharing land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route. Further, in the event of the transfer of ownership of any existing or future FDI in an entity in India, directly or indirectly, resulting in the beneficial ownership falling within the restriction/purview of the said policy amendment, such subsequent change in beneficial ownership will also require Government approval. It was enforced through Foreign Exchange Management (Non-Debt Instruments) Amendment Rules 2020 dated 22.4.2020.

In line with the objective to ensure a safe, trustworthy and accountable Internet for all its users, the Government has so far blocked 320 mobile applications under the provision of section 69A of the Information Technology (IT) Act, 2000. These mobile applications were blocked in the interest of sovereignty, integrity, defence and security of the State. In February 2022, 49 apps were re-blocked after they were found to have been re-launched after rebranding of earlier blocked apps.

China stands at 20th position with only 0.43% share (US$ 2.45 billion) in total FDI equity inflow reported in India during the period of April, 2000 to December, 2021.

As per Para 5.2(i) of the FDI Policy, the onus of compliance of provisions of the FDI Policy are on the investee company. Further, as regards to violation of FDI regulations, Para 3 of Annexure 5 of the FDI Policy provides that FDI is a capital account transaction and thus any violation of FDI regulations are covered by the penal provisions of the FEMA.

Reserve Bank of India administers the FEMA and Directorate of Enforcement under the Ministry of Finance is the authority for the enforcement of FEMA and takes up investigation in cases of contravention of FEMA.


Current Affair 4:
Objectives of SARTHAQ yojana


In pursuance of the goals and objectives of the National Education Policy (NEP) 2020 issued on 29th July, 2020 and to assist States and UTs in this task, the Department of School Education and Literacy, Ministry of Education has developed an indicative and suggestive NEP Implementation Plan for School Education, called ‘Students’ and Teachers’ Holistic Advancement through Quality Education (SARTHAQ)’. It was released on 8th April 2021.

The plan keeps in mind the concurrent nature of education and adheres to the spirit of federalism. States and UTs are given the flexibility to adapt this plan with local contextualization and also modify as per their needs and requirements. This implementation plan delineates the roadmap and way forward for implementation of NEP, 2020 for the next 10 years, which is very important for its smooth and effective implementation.

Current Affair 5:
India Semiconductor Mission



Government is focused on its important objective of building the overall semiconductor ecosystem and ensure that, it in-turn catalyses India’s rapidly expanding electronics manufacturing and innovation ecosystem. This vision of Aatmanirbhar in electronics & semiconductors was given further momentum by the Union Cabinet, chaired by the Hon’ble Prime Minister, approving the Semicon India programme with a total outlay of INR 76,000 crore for the development of semiconductor and display manufacturing ecosystem in our country. The programme aims to provide financial support to companies investing in semiconductors, display manufacturing and design ecosystem. This will serve to pave the way for India’s growing presence in the global electronics value chains.

About Mission:

India Semiconductor Mission (ISM) has been setup as an Independent Business Division within Digital India Corporation having administrative and financial autonomy to formulate and drive India’s long-term strategies for developing semiconductors and display manufacturing facilities and semiconductor design ecosystem. Envisioned to be led by global experts in the Semiconductor and Display industry, ISM will serve as the nodal agency for efficient, coherent and smooth implementation of the schemes.

Following four schemes have been introduced under the aforesaid programme:

  1. Scheme for setting up of Semiconductor Fabs in India provides fiscal support to eligible applicants for setting up of Semiconductor Fabs which is aimed at attracting large investments for setting up semiconductor wafer fabrication facilities in the country. Following fiscal support has been approved under the scheme:
    • 28nm or Lower - Up to 50% of the Project Cost
    • Above 28 nm to 45nm - Up to 40% of the Project Cost
    • Above 45 nm to 65nm - Up to 30% of the Project Cost
  2. Scheme for setting up of Display Fabs in India provides fiscal support to eligible applicants for setting up of Display Fabs which is aimed at attracting large investments for setting up TFT LCD / AMOLED based display fabrication facilities in the country. The Scheme provides fiscal support of up to 50% of Project Cost subject to a ceiling of INR 12,000 crore per Fab.
  3. Scheme for setting up of Compound Semiconductors / Silicon Photonics / Sensors Fab and Semiconductor Assembly, Testing, Marking and Packaging (ATMP) / OSAT facilities in India: The Scheme provides a fiscal support of 30% of the Capital Expenditure to the eligible applicants for setting up of Compound Semiconductors / Silicon Photonics (SiPh) / Sensors (including MEMS) Fab and Semiconductor ATMP / OSAT facilities in India.
  4. Design Linked Incentive (DLI) Scheme offers financial incentives, design infrastructure support across various stages of development and deployment of semiconductor design for Integrated Circuits (ICs), Chipsets, System on Chips (SoCs), Systems & IP Cores and semiconductor linked design. The scheme provides “Product Design Linked Incentive” of up to 50% of the eligible expenditure subject to a ceiling of ₹15 Crore per application and “Deployment Linked Incentive” of 6% to 4% of net sales turnover over 5 years subject to a ceiling of ₹30 Crore per application.

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