Current Affair 1:

Rashtriya Udyamita Vikas Pariyojana

 

News:

Rashtriya Udyamita Vikas Pariyojana (National Entrepreneurship Development Project) is aimed to help the street vendors and small shopkeepers to become more skilled and will empower them. The target audience are the beneficiaries of PM SVANidhi Yojana.

It was launched during February 2024.

 

The Rashtriya Udyamita Vikas Pariyojana will offer comprehensive entrepreneurship training in over a period of 22 weeks, combining theoretical knowledge with practical exposure through experiential learning. The training will be conducted through offline, online, and hybrid modes, with certificates awarded upon completion, enhancing the course's credibility and value.

The project will be piloted initially in selected districts, with a focus on ensuring 40% participation by women.

Current Affair 2:

Jnanpith Award

 

News:

The Jnanpith Award is the oldest and the highest Indian literary award presented annually by the Bharatiya Jnanpith to an author for their "outstanding contribution towards literature".

Instituted in 1961, the award is bestowed only on Indian writers writing in Indian languages included in the Eighth Schedule to the Constitution of India and English.

The award was given to the authors for their "most outstanding work" and consisted of a citation plaque, a cash prize and a bronze replica of Saraswati, the Hindu goddess of knowledge and wisdom.

The first recipient of the award was the Malayalam writer G. Sankara Kurup who received the award in 1965 for his collection of poems, Odakkuzhal (The Bamboo Flute), published in 1950.

The Selection Board consists of between seven and eleven members of "high repute and integrity". The recommendations of all language advisory committees are evaluated by the board based on complete or partial translations of the selected writings of the proposed writers into Hindi or English. The recipient for a particular year is announced by the Selection Board, which has final authority in selection.

Current Affair 3:

India approves 100% FDI in space sector

 

News:

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the amendment in Foreign Direct Investment (FDI) policy on space sector. 

As per the existing FDI policy, FDI is permitted in establishment and operation of Satellites through the Government approval route only.  In line with the vision and strategy under the Indian Space Policy 2023, the Union Cabinet has eased the FDI policy on Space sector by prescribing liberalized FDI thresholds for various sub-sectors/activities.

Under the amended FDI policy, 100% FDI is allowed in space sector. The liberalized entry routes under the amended policy are aimed to attract potential investors to invest in Indian companies in space.

The entry route for the various activities under the amended policy are as follows:

1. Up to 74% under Automatic route: Satellites-Manufacturing & Operation, Satellite Data Products and Ground Segment & User Segment. Beyond 74% these activities are under government route.
2. Up to 49% under Automatic route: Launch Vehicles and associated systems or subsystems, Creation of Spaceports for launching and receiving Spacecraft. Beyond 49% these activities are under government route.
3. Up to 100% under Automatic route: Manufacturing of components and systems/ sub-systems for satellites, ground segment and user segment.

This increased private sector participation would help to generate employment, enable modern technology absorption and make the sector self-reliant. With this, companies will be able to set up their manufacturing facilities within the country duly encouraging 'Make In India (MII)' and 'Atmanirbhar Bharat' initiatives of the Government.

Current Affair 4:

Flood Management and Border Areas Programme

 

News:

In order to protect human life, land and property from flood fury in the country, State Governments undertake flood management works. Government of India supplements the efforts of the State Governments by providing technical guidance and financial assistance through Flood Management & Border Area Programme (FMBAP).

The scheme has two components:

1. Under the Flood Management Component (FMP) component of FMBAP, central assistance is provided to State Governments for taking up works related to flood control, anti-erosion, drainage development, anti-sea erosion, restoration of damaged flood management works, etc. Expenditure on these schemes is shared between Union Government and State Government on a certain funding pattern approved by Cabinet.
2. Under River Management and Border Areas (RMBA) component of FMBAP, hydrological observations and flood forecasting on common border rivers with neighbouring countries, investigation of water resources projects in neighbouring countries, pre-construction activities for water resources projects on common border rivers, and activities of Ganga Flood Control Commission (GFCC) are taken up with 100% central assistance.

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