UPSC News Diary For Today 11 June, 2022

”UPSC News Diary For Today” is every day published in the evening between 6-7 PM and contains all current affairs articles from the day on a single platform. ”UPSC News Diary For Today” covers various topics from UPSC Syllabus and is very helpful and time managing for UPSC Aspirants. The framing of this daily current affairs compilation article is easy to read and understandable also.

In the ”UPSC News Diary For Today” article, we focus on both UPSC Preliminary and Mains exam-oriented current affairs & prepare a gist of daily important news articles from leading National Newspapers, PIB, and other various official sources.

Indian National Space Promotion and Authorization Centre (IN-SPACe)

In News

Prime Minister, Shri Narendra Modi inaugurated the Headquarters of the Indian National Space Promotion and Authorization Centre (IN-SPACe) in Ahmedabad, Gujarat.

Key Points about IN-SPACe

• IN-SPACe is an independent nodal agency under Department of Space for allowing space activities and usage of DOS owned facilities by NGPEs as well as to prioritise the launch manifest.
• IN-SPACe will draw up an integrated launch manifest considering the requirements for ISRO, NSIL and NGPEs based on priorities and readiness level.
• IN-SPACe will work out a suitable mechanism for promotion & hand holding, sharing of technology and expertise to encourage participation of NGPEs in space activities.
• In order to carry out the space activities, capital-intensive, high technology facilities will be required by NGPEs. These facilities, spread across various ISRO Centres, shall be permitted for use by NGPEs.
• IN-SPACe will work out a suitable mechanism to offer sharing of technology, expertise and facilities on free of cost wherever feasible or at reasonable cost basis to promote NGPEs.
• IN-SPACe will act as an autonomous body, under DOS, as a single window nodal agency for enabling and regulating space activities and usage of ISRO facilities by NGPEs.
• IN-SPACe will also permit establishment of facilities, within ISRO premises, based on safety norms and feasibility assessment.

IN-SPACe Structure

IN-SPACe will have a Chairman, technical experts for space activities, Safety expert, experts from Academia and Industries, Legal and Strategic experts from other departments, members from PMO and MEA of Government of India.

Agricultural and Processed Food Products Export Development Authority (APEDA)

In News

In a bid to give a boost to the export of Indian wine, the Agricultural and Processed Food Products Export Development Authority (APEDA), which works under the aegis of the Ministry of Commerce and Industry, facilitated participation of ten exporters in London Wine Fair, 2022.

Key Points About APEDA

• The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act passed by the Parliament in December, 1985.

Key Functions

• Development of industries relating to the scheduled products for export by way of providing financial assistance or otherwise for undertaking surveys and feasibility studies, participation in enquiry capital through joint ventures and other reliefs and subsidy schemes;
• Registration of persons as exporters of the scheduled products on payment of such fees as may be prescribed;
• Fixing of standards and specifications for the scheduled products for the purpose of exports;
• Carrying out inspection of meat and meat products in slaughter houses, processing plants, storage premises, conveyances or other places where such products are kept or handled for the purpose of ensuring the quality of such products;
• Improving of packaging of the Scheduled products;
• Improving of marketing of the Scheduled products outside India;
• Promotion of export oriented production and development of the Scheduled products;
• Collection of statistics from the owners of factories or establishments engaged in the production, processing, packaging, marketing or export of the scheduled products or from such other persons as may be prescribed on any matter relating to the scheduled products and publication of the statistics so collected or of any portions thereof or extracts there from;
• Training in various aspects of the industries connected with the scheduled products;
• Such other matters as may be prescribed.

Insolvency & Bankruptcy Board of India (IBBI)

In News

IBBI conducts Conference on “Entrepreneurship Liberty: Freedom of Entry, Competition and Exit” and IP Conclave under ‘Azadi ka Amrit Mahotsav’ in New Delhi.

Key Points About IBBI

• The Insolvency and Bankruptcy Board of India was established on 1st October, 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).
• It is a key pillar of the ecosystem responsible for implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.
• It is a unique regulator: regulates a profession as well as processes. It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities. It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.
• It has recently been tasked to promote the development of, and regulate, the working and practices of, insolvency professionals, insolvency professional agencies and information utilities and other institutions, in furtherance of the purposes of the Code. It has also been designated as the ‘Authority’ under the Companies (Registered Valuers and Valuation Rules), 2017 for regulation and development of the profession of valuers in the country.

Azadi Ka Amrit Mahotsav (AKAM)

In News

PM Modi launches new series of coins with AKAM design that are also ‘visually impaired friendly’.

Key Points About AKAM

• AKAM is an initiative of the Government of India to celebrate and commemorate 75 years of progressive India and the glorious history of its people, culture and achievements.
• AKAM celebrations were started on 12^th March 2021 by the Hon’ble Prime Minister Shri Narendra Modi.
• This Mahotsav is dedicated to the people of India who have not only been instrumental in bringing India thus far in its evolutionary journey but also hold within them the power and potential to enable Prime Minister Narendra Modi’s vision of activating India 2.0, fuelled by the spirit of Aatmanirbhar Bharat.
• The official journey of Azadi ka Amrit Mahotsav commenced on 12th March 2021 which started a 75-week countdown to our 75th anniversary of independence and will end post a year on 15th August 2023.

PIDF scheme

Relevance

• GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

PIDF scheme: Context

• Recently, RBI has proposed enhancing subsidy amount and simplifying claim process under the Payments Infrastructure Development Fund (PIDF) scheme.

Payment Infrastructure Development Fund Scheme: Key points

• Objective: To further accelerate and augment the deployment of payment acceptance infrastructure in targeted geographies.
• As of end-April 2022, more than 1 crore new touch points have been deployed under the scheme.
• Experts said that the modification proposed will lead to more players setting up payment infrastructure.
• Enhancing the subsidy amount and simplifying the subsidy claim process will encourage more players to set up merchant acquiring services like POS and QR.

What is PIDF scheme?

• The Payment Infrastructure Development Fund (PIDF) Scheme was operationalised by the central bank in January 2021 to incentivise deployment of Point-of-Sale machines (PoS), mPoS (mobile PoS), Quick Response (QR) codes in tier-3 to tier-6 centres and North Eastern States.
• From August 2021, beneficiaries of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme) in tier-1 and tier-2 centres were also covered.
• A subsidy of 30% to 50% of cost of physical PoS and 50% to 75% subsidy for Digital PoS is offered under the scheme.
• The initial target of the scheme was 90 lakh PoS terminals and Quick Response (QR) codes to be deployed over three years, or 2023 end.
• The target was achieved before deadline and as on April end, over 1 crore new touch points have been deployed under the Scheme.
• The PIDF corpus currently stands at ₹811.4 crore, with an initial authorised capital of 250 crore by the RBI.
• An advisory council under the chairmanship of RBI deputy governor BP Kanungo had been constituted for managing the PIDF.
• The fund will be operational for three years effective from January 1, 2021 and may be extended for two more years.

Payment Infrastructure Development Fund  corpus: PIDF subsidy

• The minimum usage, to be eligible for subsidy, shall be termed as 50 transactions over a period of 90 days and active status shall be minimum usage for 10 days over the 90-day period.
• The subsidy claims shall be processed on a half-yearly basis and 75% of the subsidy amount shall be released.
• The balance 25% shall be released later subject to the status of the device being active in three out of the four quarters of the ensuing year.
• The maximum cost of physical acceptance devices eligible for the subsidy will be Rs 10,000, including one-time operating costs up to Rs 500.
• The maximum cost of digital acceptance devices eligible for subsidy will be Rs 300, including a one-time operating cost up to Rs 200.

FDI in India

Relevance

• GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

FDI India rank: Context

• According to the World Investment Report released by the United Nations Conference on Trade and Development (UNCTAD), India remained among the top 10 (India rank: 7) global economies for FDI last year, despite the decline in FDI.

World Investment Report: Key points

• Foreign Direct Investment (FDI) inflows to India declined USD 19 billion to USD 45 billion in 2021.
• FDI inflows recovered to pre-pandemic levels last year, hitting nearly USD 1.6 trillion.
• FDI in 2022: However, the report suggests a grim picture for global FDI in 2022 and beyond.
• Reasons: Security and humanitarian crises caused by the Ukraine war, by macroeconomic shocks set off by the conflict, by energy and food price hikes, and by increased investor uncertainty.

UNCTAD report: FDI in India

• India received USD 64 billion in FDI in 2020, and recorded a decline in FDI inflows in 2021 at USD 45 billion.
• But India was still among the top 10 economies for FDI inflows in 2021, ranking 7th after the US, China, Hong Kong, Singapore, Canada and Brazil.
• South Africa, Russia and Mexico rounded up the top 10 economies for FDI inflows in 2021.
• Outward FDI from South Asia, mainly from India, rose by 43 per cent to USD 16 billion.
• United States MNEs (Multi National Enterprises) targeted India in 8 per cent of the deals, mostly buying minority stakes to gain access to the market and to local innovative solutions.
• Reason for increase in investment: Investment facilitation measures undertaken by nations accounted for almost 40 per cent of all measures more favourable to investment.

Global FDI in 2022

Russia-Ukraine war

• The report noted that the war in Ukraine will have far-reaching consequences for international investment in economic development and the Sustainable Development Goals (SDGs) in all countries.
• According to the report, the direct effects of the war on investment flows to and from Russia and Ukraine include the halting of existing investment projects and the cancellation of announced projects, an exodus of multinational enterprises (MNEs) from Russia, widespread loss of asset values and sanctions virtually precluding outflows.

COVID impact of FDI on Asia

• The report said that despite successive waves of COVID-19, FDI in developing Asia rose for the third consecutive year to an all-time high of USD 619 billion, underscoring the resilience of the region.
• Moreover, Asia is the largest recipient region of FDI in the world, accounting for 40 per cent of global inflows.
• Inflows remain highly concentrated and six economies (China, Hong Kong, Singapore, India, the United Arab Emirates and Indonesia, in that order) accounted for more than 80 per cent of FDI to the region.

Economic growth in India

Relevance

• GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

GDP growth in India: Context

• The Provisional Estimates of Annual National Income in 2021-22 just released show that GDP grew 8.7% in real terms and 19.5% in nominal terms. It makes India the fastest growing major economy in the world.

GDP growth in India: Key points

• The real economy is 1.51% larger than it was in 2019-20, just before the novel coronavirus pandemic hit the world. In nominal terms it is higher by 17.9%.
• These numbers imply that the rate of inflation was 10.8% in 2021-22 and 16.4% between the two years, 2019-20 and 2021-22.
• This above data implies almost no growth and high inflation since the pre-pandemic year. So, the tag of the fastest growing economy means little.

India fastest growing economy: Issues

• Difference in meaning: The quarter-to-quarter growth provides the data that is different from the one given above. It means that if an economy drops sharply and then rises equally fast to reach its earlier level, that cannot be taken as an indication of a rapidly growing economy.
• Problem in data: The first issue is that during 2020-21, due to the pandemic, full data could not be collected for Q1. Further, for agriculture, quarterly data assumes that the targets are achieved. Very little data is available for agriculture sector; however, it is simply assumed that the limited data available for the organised sector can be used to act as a proxy.
• Errors in components: If GDP data are incorrect, data on its components — private consumption and investment — must also be incorrect. Most often, ratios are applied to the GDP to estimate them. But, if the GDP is in error, then the ratios will yield erroneous results. In brief, neither the total nor the ratios are correct. Clearly, consumption and investment figures are over-estimates and very likely because the decline in the unorganised sectors has not been captured.

IN SPACe Inaugration

Relevance

• GS 3: Achievements of Indians in science & technology; indigenization of technology and developing new technology.

IN SPACe Ahmedabad: Context

• Recently, Prime Minister has inaugurated the headquarters of the Indian National Space Promotion and Authorization Centre (IN-SPACe) in Ahmedabad, Gujarat.

IN SPACe Bopal: Key points

• The programme also witnessed the exchange of MoUs between IN-SPACe and private sector companies working in the field of space-based applications and services.
• The promotion and enabling of private entities in the space sector will provide a major fillip to the space sector and open up new vistas of opportunity for India’s talented youth.
• The Prime Minister termed the launch of IN-SPACe as a ‘watch this space’ moment for the Indian space industry as it is a precursor to many developments and opportunities.

What is IN-SPACe?

• IN-SPACe is an autonomous and single window nodal agency in the Department of Space for the promotion, encouragement and regulation of space activities of both government and private entities.
• IN-SPACe will act as a single window, independent nodal agency to take care of all the needs of the private sector.
• It also facilitates the usage of ISRO facilities by private entities.
• The establishment of IN-SPACe was announced in June 2020.

Significance of IN-SPACe

• IN-SPACe will create opportunities for both the government and the private sector.
• IN-SPACe is a step towards reforming the space sector, freeing it from all restrictions, and supporting the private industry.
• IN-SPACe needs to work continuously for making the gains of space technology accessible to the people of the country.

IN SPACe hq: Why needed?

• The global space industry is valued at 400 billion US dollars and has a potential to become a 1 trillion-dollar industry by 2040.
• India needs to increase its share in the global space industry and the private sector will play a big role in that.
• New fields like space tourism and space diplomacy need to be explored to walk shoulder to shoulder with the other advanced nations.
• India is working on a New Indian Space Policy for coordinating between government companies, space industries, startups and institutions.

Capacity Building Commission

Introduction

• The capacity of civil services plays a vital role in rendering a wide variety of services, implementing welfare programmes and performing core governance functions.
• The Capacity Building Commission was constituted through the Gazette of India on 1 April 2021.

Key Functions Of CBC

As the custodian of the civil services capacity-building ecosystem, the commission is mandated to perform the following functions:

• Facilitate preparation of Annual Capacity Building Plans of departments, ministries and agencies.
• Make Policy recommendations to DoPT on personnel/ HR and Capacity Building.
• Evolve a harmonious de-siloed approach to improve civil service capacity.
• Analyze learning/ competency related data from iGOT-Karmayogi, online training platform.
• Drive standardization, harmonization and shared understanding of Capacity Building activities.
• Create shared learning resources, including internal and external faculty and resource centers.
• Exercise functional supervision over all Central Training Institutions.
• Undertake audit of Human Resources in Government and outcomes of the Capacity Building efforts.
• Approve Knowledge Partners and Content Validation mechanism for training of civil servants.
• Organize a global HR Summit to bring best practices of human resource management to the governance in India.
• Facilitate preparation of Annual Capacity Building Plans of departments, ministries and agencies.

Mission Karmyogi

• The National Programme for Civil Services Capacity Building (‘NPCSCB’) – “Mission Karmayogi” has been launched with the objective of enhancing governance through Civil Service Capacity Building.
• Aim: Mission Karmyogi aims to prepare the Indian Civil Servants for the future by making them more creative, constructive, imaginative, innovative, proactive, professional, progressive, energetic, enabling, transparent and technology-enabled.
• Mission Karmayogi will have the following six pillars:-
  • (i) Policy Framework,
  • (ii) Institutional Framework,
  • (iii) Competency Framework,
  • (iv) Digital Learning Framework (Integrated Government Online Training Karmayogi Platform (iGOT-Karmayogi),
  • (v) electronic Human Resource Management System (e-HRMS), and
  • (vi) Monitoring and Evaluation Framework.

Guiding Principles Of Mission Karmayogi

Mission Karmayogi is guided by 8 principles that are applied in tandem across all of the programmes covered by it

1. From Rule to Role

Empowering the Civil Service with a Shift from Rule to Role.

2. Democratising Opportunities

The democratisation of Competency Development Opportunities.

3. Continuous Guided Learning

Lifelong and Continuous Learning with Guided Learning Paths.

4. Citizen Centricity

Citizen-Centricity in Public Service Delivery with Behavioural, Functional and Domain Competencies.

5. 70-20-10 Learning Mandate

Delivering to the 70-20-10 Learning Mandate.

6. Accountability

Cultivating Accountability with Reporting, Regulation and Performance Analysis.

7. De-Siloisation

Shared Capacity Building Architecture to Reduce Silos and Promote a Shared Understanding.

8. Participative, Responsive and Intelligent Governance

Facilitating a Participative, Responsive and Intelligent Government.

Conclusion

Empowered with specific role competencies, the civil servant will be able to ensure efficient service delivery of the highest quality standards.

EASE 5.0

Relevance

• GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

EASE 5.0 UPSC: Context

• Recently, Ministry of Finance has launched the fifth edition of Enhanced Access and Service Excellence-EASE 5.0, which spells out the common reforms agenda for public sector banks (PSBs) under the EASENext program.

EASE 5.0 agenda: Key points

• PSBs will continue to invest in new-age capabilities and deepen the ongoing reforms to respond to evolving customer needs, changing competition and the technology environment.
• Focus of EASE 5.0:Digital customer experience, and integrated and inclusive banking, with emphasis on supporting small businesses and agriculture.
• All PSBs will also create a bank-specific three-year strategic roadmap, which entail strategic initiatives beyond EASE 5.0.
• The initiatives will be across diverse themes — business growth, profitability, risk, customer service, operations, and capability building.

EASE 5.0: Significance

• Emphasis on customer-first strategy and focus on employee development.
• In order to develop customer-centric approach, banks should engage with their customers to understand their needs and expectations.
• While upgrading technology initiatives, robust security mechanisms should also be developed.
• EASENext reforms should bring ease for customers as well as for employees.
• Since all PSBs are now profitable and have stronger balance sheets, it is imperative that PSBs leverage this position of strength to significantly increase their competitiveness.

About EASENext

• EASENext would comprise 2 major initiatives:  EASE 5.0 (common PSB reforms agenda) and Bank specific strategic 3-year roadmap (based on individual bank’s business priorities).

 EASE 4.0

• EASE 4.0 (Enhanced Access and Service Excellence agenda) is a common reform agenda for PSBs aimed at institutionalising clean and smart banking.
• PSBs have recorded phenomenal growth over four quarters since the launch of EASE 3.0 Reforms Agenda in February 2020.
• All the banks have, collectively, done well and come out of Prompt Corrective Action (PCA) despite service extended during pandemic, according to the EASE 4.0 agenda.

EASE 3.0 awards

• State Bank of India, Bank of Baroda and Union Bank of India have won the awards for best performing banks for PSB EASE 3.0 based on the EASE 4.0 index.
• Indian Bank won the award for the best improvement from the baseline performance.
• SBI, Bank of Baroda, Union Bank of India, Punjab National Bank and Canara Bank won the top awards in different themes of the PSB Agenda EASE 3.0 reforms.

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