1. REMITTANCES (Syllabus: GS Paper 3 - Economy)

Context: Remittances to the country by non-resident Indians rose 26 percent on year to about $112.5 billion in FY23, underscoring the surge in demand for Indian professionals globally after the pandemic.

• The share of the 10 major countries in inward remittances to India, based on a survey conducted by the Reserve Bank of India for 2020-21, showed that the US was the top source with a share of 23.4 percent in total remittances.
• It Was followed by UAE with 18 per cent, UK (6.8 per cent), Singapore (5.7 per cent) and Saudi Arabia (5.1 per cent).

Remittance

• About: It refers to money that is sent or transferred to another party, usually overseas. 

• It is derived from the word 'remit' which means 'to send back'. 

• It can be sent via a wire transfer, electronic payment system, mail, draft, or cheque.

• It can be used for any type of payment including invoices for business purposes or other obligations like personal transfers made to family and friends.

• Two main components: Personal Transfers in cash or in kind between resident and non-resident households and Compensation of Employees, which refers to the income of workers who work in another country for a limited period of time.
• Significance: Remittances help in stimulating economic development in recipient countries, but this can also make such countries over-reliant on them.

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2. NATIONAL COMPANY LAW TRIBUNAL (Syllabus: GS Paper 3 - Economy)

Context: Benches of the National Company Law Tribunal (NCLT) should not get into questioning a company’s default once it is established by the creditors, particularly financial creditors, for admission to the corporate insolvency process. 

• This is one of the key themes of the draft guidelines for the NCLT, which are being finalised by the Ministry of Corporate Affairs (MCA).

National Company Law Tribunal

• It is a quasi-judicial body in India that adjudicates issues relating to Indian companies.
• The tribunal was established under the Companies Act 2013 and was constituted on 1 June 2016 by the government of India and is based on the recommendation of the V. Balakrishna Eradi committee on law relating to the insolvency and the winding up of companies.
• All proceedings under the Companies Act, including proceedings relating to arbitration, compromise, arrangements, reconstructions and the winding up of companies shall be disposed off by the National Company Law Tribunal. 
• The NCLT bench is chaired by a Judicial member who is supposed to be a retired or a serving High Court Judge and a Technical member who must be from the Indian Corporate Law Service, ICLS Cadre.
• The National Company Law Tribunal is the adjudicating authority for the insolvency resolution process of companies and limited liability partnerships under the Insolvency and Bankruptcy Code, 2016.
• The National Company Law Tribunal has the power under the Companies Act to adjudicate proceedings:
• Initiated before the Company Law Board under the previous act (the Companies Act 1956);
• Pending before the Board for Industrial and Financial Reconstruction, including those pending under the Sick Industrial Companies (Special Provisions) Act, 1985;
• Pending before the Appellate Authority for Industrial and Financial Reconstruction; and
• Pertaining to claims of oppression and mismanagement of a company, winding up of companies and all other powers prescribed under the Companies Act.

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3. ODOP WALL (Syllabus: GS Paper 3 - Economy)

Context:  One District One Product (ODOP) and Deendayal Antyodaya Yojna - National Rural Livelihoods Mission (DAY-NRLM) joined hands to launched ‘ODOP wall’. 

• Under this Collaboration- products are being identified from all districts to be promoted for their unique qualities and cultural significance which include various handicrafts, handloom, and agricultural products that have been associated with the identity of their place of origin. 
• This collaboration aims to drive consumers towards emporia, boosting sales and increasing the visibility SARAS products even further to promote indigenous crafts and artisans of rural SHGs women.

One District One Product (ODOP)

• About: The ‘One District, One Product (ODOP) was later launched in 2018, to help districts reach their full potential, foster economic and socio-cultural growth, and create employment opportunities, especially in rural areas.

• It is a centrally sponsored scheme to be shared by the central government and states in 60:40 contributions.
• Nodal Ministry: Ministry of Food Processing Industries.
• Merged with the ‘Districts as Export Hub’ initiative: ODOP initiative is operationally merged with the ‘Districts as Export Hub’ initiative being implemented by DGFT, Department of Commerce, with the Department for Promotion of Industry and Internal Trade (DPIIT) as a major stakeholder.                                        

• The Department of Commerce through DGFT is engaging with State and Central Government agencies to promote the initiative of One District One Product. 

• Origin: It was launched in January 2018, by the Uttar Pradesh Government, and due to its success, was later adopted by the Central Government.
• ODOP is basically a Japanese business development concept, which gained prominence in 1979.

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4. BHARATMALA PARIYOJANA (Syllabus: GS Paper 3 - Infrastructure)

Context: The Comptroller and Auditor General of India has flagged how the NHAI's decision to go for elevated carriageway on the Haryana portion of Dwarka Expressway has pushed up the construction cost to Rs 251 crore per km.

• It also flagged how the Delhi-Mumbai Expressway may remain "underutilised" for the next 25 years as the stretch has more lane capacity than required to meet the next 15 years' traffic demand.
• The National Highways Authority of India (NHAI) is building both the expressways under the Bharatmala highway development programme. 
• The Cabinet Committee on Economic Affairs (CCEA) had approved an overall average construction cost of Rs 18.2 crore per km while approving the Bharatmala programme.

Bharatmala Pariyojana

• It is an umbrella program for the highways sector that focuses on optimizing efficiency of freight and passenger movement across the country by bridging critical infrastructure gaps through effective interventions like development of Economic Corridors, Inter Corridors and Feeder Routes, National Corridor Efficiency Improvement, Border and International connectivity roads, Coastal and Port connectivity roads and Greenfield expressways. 
• It was launched in 2017.
• All key aspects of the scheme are managed by the Ministry of Road Transport and Highways.
• Under Phase-I of Bharatmala Pariyojana, implementation of 34,800 km of national highways in 5 years (from 2017 to 2022) has been approved at an estimated outlay of Rs. 5,35,000 crore.
• Phase-II envisages around 48,000 km of road network across India by 2024.

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5. PM-DevINE SCHEME (Syllabus: GS Paper 3 - Infrastructure)

Context: Fund release to new projects across several northeast states is learnt to be down to a trickle this financial year mainly due to overhauls of policy and procedural guidelines running into the second quarter at the Union Ministry of Development of Northeast Region (MDoNER).

• A chief minister is learnt to have pointed to nearly a dozen project proposals for the new scheme - PM's Development Initiative for North East Region (PM-Devine) - that are pending for months before the empowered committee of MDoNER for approval.
• The CM has pointed to the need to expedite clearances given the limited construction window in the region.

Prime Minister’s Development Initiative for North East Region (PM-DevINE)

• About: It is a new scheme for the Northeastern states which was announced in the Union Budget. 
• Objectives:
• Fund infrastructure convergently, in the spirit of PM GatiShakti.
• Support social development projects based on felt needs of the NER.
• Enable livelihood activities for youth and women.
• Fill the development gaps in various sectors.

• Implementation: PM-DevINE will be implemented by the Ministry of Development of North Eastern Region (DoNER), through the North Eastern Council or central ministries and agencies.

• Time constraints: Efforts will be made to complete the PM-DevINE projects by 2025-26 so that there are no committed liabilities beyond this year.

• Significance: The parameters of N-E states in respect of Basic Minimum Services (BMS) are well below the national average and there are critical development gaps as per the NER District Sustainable Development Goals (SDG) Index 2021-22 prepared by NITI Aayog, UNDP and MDoNER.

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6. DEVELOPMENT OF TEA IN INDIA (Syllabus: GS Paper 3 - Agriculture)

Context: The Green Leaf Price Monitoring Committee, which monitors the average green leaf price payable to small tea growers, did not meet even once in 10 out of 18 tea growing districts in Assam in the 2016-17 to 2020-21 period, an audit by Comptroller and Auditor General of India has revealed. 

• The report, Role of Tea Board India in the Development of tea in India, was tabled in the Parliament on August 8, 2023.

Key Points

• Though the Tea Act, 1953 authorised the Board to inspect the quality of tea, factories were not adequately inspected during 2016-17 to 2020-21.
• It also found the Tea Board disbursed subsidy amounting to Rs 12.87 crore  under various schemes, without adhering to the guidelines.
• Tea Marketing Control (Amendment) Order, 2015 provides for the constitution of the Green Leaf Price Monitoring Committee in each tea growing district. 
• The committee must monitor the average green leaf price payable to small tea growers.
• Meetings of the Committee should be conducted as stipulated in the Tea Marketing Control Order to protect the interests of small tea growers and ensure payment of the minimum benchmark price of green leaves.

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7. INSTITUTION OF EMINENCE (Syllabus: GS Paper 2 - Education)

Context: An expert panel and the UGC have recommended that Jadavpur University and Jamia Hamdard University, which were shortlisted by the Centre for granting Institutions of Eminence (IoE) status, should not be granted the tag.

• The Tamil Nadu government has withdrawn the proposal submitted earlier to confer the status of IoE on the Anna University.
• The Ministry of Education is yet to take call on the recommendations by the Empowered Expert Committee (EEC) and the University Grants Commission (UGC).

Institution of Eminence (IOE)

• About: It is a recognition scheme to empower higher education institutes in India. It was first announced in 2016 Union budget.
• Objectives: To provide an enabling regulatory architecture to ten public and ten private Higher Educational institutions to emerge as world-class teaching and research institutions.
• Nodal Ministry: Ministry of Education.

• Selection Criteria: UGC had constituted an Empowered Expert Committee (EEC) under Gopalasamy chairmanship; to recommend a list of institutions on the basis of following criteria:

• Institutions, which have figured in the top 500 of QS World University Rankings or top 50 of the National Institutional Ranking Framework (NIRF) rankings, shall be recommended for the IoE status.
• Yet to be established (Greenfield Institution) will also be recommended. They would get 3-year period to establish and operationalise, and thereafter, EEC will consider giving IoE status to such institutions.
• Benefits:
• It will ensure complete autonomy to the selected institutions and facilitate them to grow more rapidly.
• They will get more opportunity to scale up their operations with more skills and quality improvement so that they become World Class Institutions in the field of education.
• Greater autonomy to admit foreign students up to 30% of admitted students.
• To recruit foreign faculty up to 25% of faculty strength.
• To offer online courses up to 20% of its programmes.
• To enter into academic collaboration with top 500 in the world ranking Institutions without permission of UGC.
• Free to fix and charge fees from foreign students without restriction.
• The flexibility of course structure in terms of number of credit hours and years to take a degree.
• Complete flexibility in fixing of curriculum and syllabus.

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8. PM-USHA (Syllabus: GS Paper 2 - Education)

Context:  14 States and Union Territories which are yet to sign a crucial Memorandum of Understanding (MoU) with the Union Education Ministry, which mandates the implementation of the National Education Policy in order to avail funds worth almost ?13,000 crore for the next three years, under the Centre’s flagship scheme for State-run higher education.

• They have raised concerns about the MoU, given that 40% of the Pradhan Mantri Uchchatar Shiksha Abhiyan (PM-USHA) budget must be borne by the States themselves, and no extra funds have been earmarked for NEP reforms. 
• The Centre says it holding discussions to iron out differences with dissenting States.

Pradhan Mantri Uchchatar Shiksha Abhiyan (PM-USHA)

• It is a centrally sponsored programme which aims to work with 300-plus state universities and its affiliated colleges. 
• Launched in 2013, the PM-USHA aims at providing strategic funding to eligible state higher educational institutions.
• The central funding is based on norms and is outcome dependent.
• PM-USHA is the new name for the Ministry’s scheme to improve the quality of higher education in State Universities - through curricular and programme changes, teacher training, physical and digital infrastructure, accreditation, and enhancing employability - while ensuring equity, access, and inclusion. 
• 40% of the expenses under PM USHA is borne by the States. 
• To implement the NEP, States need more funds and aid from the Centre. 
• This MoU does not say anything about finding funds for changes envisaged under the NEP.

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9. EXERCISE ZAYED TALWAR (Syllabus: GS Paper 2 - IR)

Context: Two Indian Navy ships, INS Visakhapatnam and INS Trikand, participated in a bilateral exercise 'Zayed Talwar' with the UAE navy.

Key Points

• Earlier, the two ships arrived at Dubai's Port Rashid on August 8, 2023, to participate in exercise 'Zayed Talwar' with the United Arab Emirates (UAE) Navy.
• Keeping the common challenges of piracy, smuggling, human trafficking and enhancing maritime security as well as undertaking joint Humanitarian Assistance and Disaster Relief (HADR) operations in mind, the two officers also agreed on increasing the interaction between the two navies.
• The bilateral naval exercise 'Zayed Talwar' aims to enhance the interoperability and synergy between the Indian Navy and UAE Navy by cross-training on tactics, techniques and procedures while also developing stronger professional bonds.

Other exercises between India and UAE:

• Exercise Desert Flag (Air Force)
• In-UAE BILAT (bilateral naval exercise)
• Desert Eagle (bilateral air force exercise)

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10. AJODHYA HILLS (Syllabus: GS Paper 3 - Env & Eco)

Context: Tribal and forest-dwelling communities in West Bengal’s Ajodhya Hills have called for cancellation of Turga and Bandu Pump Storage Projects, alleging the state government has sidestepped consultative processes while acquiring forest land for the project.

Key Issues

• Prakriti Bachao O Adivasi Bachao Maanch (Save Nature & Save Adivasi Platform), a forum representing tribal communities, alleged that the processes required by the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006, better known as the Forest Rights Act (FRA), have not been followed.

• For any project to happen in the forest land, more than 50 percent of the concerned Gram Sabha’s members’ consent is required under the FRA.
• This consent needs to be taken by the Panchayat office for all nine villages only after informing them about all the details of the project.

Ajodhya Hills

• Ajodhya Hills, is a small plateau with hilly surroundings located in the Purulia district of the state West Bengal, India. 
• It is the easternmost part of the Chhotanagpur Plateau and extended part of Eastern Ghats range. 
• Highest peak of Ajodhya Hills is Chamtaburu (699 m). The nearby populated town area is Bagmundi.
• According to Hindu mythology, Rama and Sita had come to Ajodhya Hills and stayed during their exile. 
• Sita was thirsty and Ram pierced an arrow through the Earth's soil crust and through that water gushed out. 
• Sita quenched her thirst. The place is known as Sita-kunda. 
• During the full moon day in Baisakh every year Santhal, Bhumij and Munda tribals of nearby areas come and join in the game of hunting wild animals, called Disum Sendra.

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