1. PM SVANIDHI (Syllabus: GS Paper 2 - Govt Schemes)

Context: Recently, the Minister of Housing & Urban Affairs and Petroleum & Natural Gas inaugurated the National Street Food Festival 2023, emphasizing the Prime Minister Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) Scheme in empowering street vendors.

PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi)

• Launched: June 01, 2020
• Nodal Ministry: Ministry of Housing and Urban Affairs
• Objective: Offering cost-effective working capital loans to street vendors, enabling them to revive their livelihoods impacted by the Covid-19 lockdown.

oIt is a special micro-credit facility plan to provide affordable loans of up to 10,000 to more than 50 lakh street vendors, who had their businesses operational on or before 24 March.

• Lending Agencies: Microfinance Institutions, Non-Banking Financial Companies, Self Help Groups 
• Eligible for the Loan: Vendors with vending experience dating back to or before March 24, 2020, and possessing a vending certificate are eligible for the loan.
• The Street Vendors Act 2014 mandates Town Vending Committees, consisting of local authorities and area vendors, to issue vending certificates following a comprehensive survey of all vendors.

Benefits of Scheme

• Vendors can access a working capital loan of up to Rs. 10,000, with repayment in monthly installments over one year.
• Timely or early loan repayments will result in a 7% annual interest subsidy deposited into beneficiaries' bank accounts quarterly via Direct Benefit Transfer.
• Early repayment of the loan will not incur any penalties.

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2. XPOSAT SATELLITE Syllabus GS Paper 3 – Sci and Tech)

Context: The Indian Space Research Organisation, following a landmark 2023, will ring in the new year with the launch of the PSLV-C58 X-ray Polarimeter Satellite (XPoSat) mission on January 1, 2024.

XPoSAT Satellite

• About: ISRO's First Dedicated Scientific Satellite for X-ray Emission Research.
• XPoSAT's Orbit Configuration: ISRO's PSLV-C58 Mission is set to launch the XPoSAT Satellite into an Eastward low inclination orbit.
• 3-Axis Stabilized Mode: Following XPoSAT's injection, the PS4 stage will be re-started twice to reduce the orbit to a 350 km circular orbit, maintaining a 3-axis stabilized mode for Orbital Platform experiments.
• Purpose: XPoSAT marks ISRO's debut dedicated scientific satellite for researching space-based polarisation measurements of X-ray emission from celestial sources.
• Payloads: It carries two crucial payloads, namely POLIX (Polarimeter Instrument in X-rays)
• Developed by: Raman Research Institute and XSPECT (X-ray Spectroscopy and Timing) by the Space Astronomy Group of URSC, Bengaluru.
• Broad Payload Spectrum: In addition to XPoSAT's scientific payloads, PSLV-C58 will launch 10 diverse payloads developed by start-ups, educational institutions, and various ISRO centers.

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3. UNITED LIBERATION FRONT OF ASSAM (Syllabus: GS Paper 3 – Internal Security)

Context: A Government of India, the pro-talks faction of the United Liberation Front of Assam (ULFA) signed a tripartite peace accord with the Centre and Assam governments in New Delhi

Tripartite Peace Accord

• Aim: At addressing pressing concerns such as illegal immigration, land rights for indigenous communities, besides a financial package for Assam’s development.
• Under the Agreement: ULFA representatives have agreed to abjure the path of violence, lay down all their arms and ammunition and disband their armed organisation.

United Liberation Front of Assam (ULFA)

• About: It is an armed separatist organisation operating in the Northeast Indian state of Assam.
• Founded: In n 1979 by a group of 20 youngsters from Upper Assam districts to wage an armed struggle for an independent Assam, the group splintered into two factions in 2011.
• Motive: Establishment of an independent Assam
• Aspiration for Sovereign Nation: The group aims to create an independent sovereign nation state of Assam, advocating for the rights of the indigenous Assamese people.
• Armed Struggle in Assam: The Assam conflict involves an armed struggle as a primary method to achieve the goal of autonomy and independence.

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4. BRICS (Syllabus: GS Paper 2 – IR)

Context: Membership of the BRICS group of emerging-market nations is set to double, with Saudi Arabia, Iran, the United Arab Emirates, Ethiopia and Egypt to join its ranks on Jan. 1

BRICS

• About: It  is an acronym for the grouping of the world’s leading emerging economies, namely Brazil, Russia, India, China, and South Africa (included in 2010)
• Founded By: 2009.
• Headquarters: Shanghai.
• Members: Brazil, Russia, India, and China
• Six New Members: Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates- will be added to the bloc in January 2024.
• Criteria for Eligibility in BRICS: There is no formal application process as such to join BRICS, however, certain eligibility features are considered for new members. They are:

oEconomic Size, Trade Volume, Emerging Economy Status, Political Stability and Mutual Consensus.

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5. NATIONAL TRANSIT PASS SYSTEM (Syllabus: GS Paper 2 – Governance)

Context: Recently, the Union Minister for Environment, Forest and Climate Change and Labour and Employment launched the National Transit Pass System (NTPS).

National Transit Pass System (NTPS)-‘One Nation-One Pass

• About: NTPS prioritizes user convenience with desktop and mobile applications, simplifying registration and permit applications for seamless use.
• Objective: To facilitate the seamless transit of timber, bamboo, and other forest produce across the country
• Efficient Permit System: Transit permits are specifically issued for regulated tree species, while users have the ability to self-generate No Objection Certificates for exempted species, streamlining the permitting process.
• Nationwide Adoption: Currently, 25 States and Union Territories have embraced the unified permit system, creating a more efficient interstate business environment for producers, farmers, and transporters.
• Boost to Agroforestry: The implementation of NTPS is expected to provide a significant boost to the agroforestry sector, facilitating smoother operations and transactions for stakeholders.
• "One Nation-One Pass" Initiative: NTPS is conceived as a "One Nation-One Pass" regime, aiming to enable seamless transit across the country, fostering a unified approach to timber transit permits.
• Online Integration for Ease of Business: This initiative streamlines the issuance of timber transit permits through a unified online platform, benefiting tree growers and farmers engaged in agroforestry nationwide and contributing to the overall ease of doing business.

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6. SUKANYA SAMRIDDHI SCHEME (Syllabus: GS Paper 2 – Govt Scheme)

Context: The government raised the interest rates on Sukanya Samriddhi scheme by 20 basis points and three-year term deposit scheme by 10 basis points for the January-March quarter, while retaining the rates for all other small savings schemes.

Sukanya Samriddhi Scheme

• About: It is a central government scheme aimed to cater to a girl child.
• Launched: 2016
• Nodal Ministry: Ministry of Women and Child Development
• Objective: To support the financial well-being of the girl child as part of the "Beti Bachao – Beti Padhao" initiative.
• Eligibility: A parent or legal guardian of the girl child has the authority to open the account.

oThe girl child must be under the age of 10.

oOnly one account is permitted for a girl child.

oA family is restricted to opening a maximum of two SSY scheme accounts.

• Benefits of Scheme

oThe interest is compounded annually, with the flexibility of monthly interest pay-outs calculated on the completed thousands of the balance.

oThe scheme, falling under Section 80C of the IT Act, 1961, has been extended with triple exempt benefits. 

oThis implies that there will be no tax levied on the invested amount, the interest earned, and the withdrawn amount.

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7. JAIN SCULPTURE (Syllabus: GS Paper 1 – Art & Culture)

Context: Three Jain sculptures and dated to around 11th century CE were discovered in Varuna village in Mysuru district.

oThe entire belt comprising Varuna, Varakodu, Vajamangala etc were thriving Jain centres.

Jain Sculpture

• About: These are the images depicting Tirthankaras (teaching gods). These images are worshiped by the followers of Jainism.
• Example: Giant rock-cut statues of Jain Tirthankaras are carved in the Gopachal Hill, Gwalior, Madhya Pradesh.
• Statues: Gometeshwara/Bahubali Statue- Shravanabelagola, Karnataka, Statue of Ahimsa(Rishabnatha)- Mangi-Tungi hills, Maharashtra.

Jain vs Buddhist Iconography

• About: The Jain idols are males depicted in both sitting and standing postures. The tīrthaṅkarasare represented either Padmasana (seated in yoga posture) or standing in the Kayotsarga posture.

oA Buddhist image can be in one of several mudras. However the Jain tirthankara images can only be in one of the two format. 

• In Padmasana: The statues of a Jina and a Buddha can be similar.

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8. PM GATI SHAKTI SCHEME (Syllabus: GS Paper 3 – Economy)

Context: The ministry of petroleum and natural gas plans to substantially reduce spending on the laying of gas pipelines by leveraging the extensive infrastructure data from the PM Gati Shakti National Master Plan (PMGS-NMP).

PM Gati Shakti National Master Plan (PMGS-NMP)

• About: It is a digital platform will bring 16 Ministries including Railways and Roadways together for integrated planning and coordinated implementation of infrastructure connectivity projects.
• Launched: 13th October 2021 for providing multimodal connectivity infrastructure to various economic zones. 
• Implementation: On 21st October 2021.
• Focus Area: Railways, Roads, Ports, Waterways, Airports, Mass Transport and Logistics Infrastructure.
• 6 pillars of the Plan: Comprehensiveness, Prioritisation, Optimization, Synchronisation, Analytical and Dnamic.

PM Gati Shakti Scheme

• About: It is a multi-modal connectivity plan with the goal of coordinating infrastructure project planning and execution to reduce logistics costs.
• Establishment: October 2021
• Aim: It is the first National Infrastructure Masterplan. The National Master Plan for Multi-modal Connectivity is essentially a digital platform to bring 16 Ministries includes.

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9. KNOW INDIA PROGRAMME (Syllabus: GS Paper 2 – Gov. Scheme)

Context: The Flagship programme of the External Affairs Ministry-‘Know India Programme’ for the youth diaspora has completed its 20 years.

Know India Programme

• About: It is a flagship programme of Ministry of External Affairs for engagement with Indian origin youth (between 21-35 years).
• The programme has been in existence since 2003
• Objective: To enhance their awareness about India, its cultural heritage, art and to familiarise them with various aspects of contemporary India.
• Participants: Open to youth of Indian origin (excluding non-resident Indians) from all over the world with preference to those from Mauritius, Fiji, Suriname, Guyana, Trinidad &Tobago;, South Africa, Jamaica.
• Duration: 21 days’ programme (excluding international travel).
• Qualification: Graduation from a recognized University /Institute or enrolled for graduation and ability to speak in English.

SWADES scheme

• Objective - to conduct a skill mapping exercise of the returning citizens under the vande bharat mission (repatriation mission for Indians stranded abroad due to COVID-19).
• Aim: To create a database of qualified citizens to tap into and fulfil demand of Indian and foreign companies.
• Ministry: It is a joint initiative of the ministry of skill development & entrepreneurship (MSDE), the ministry of civil aviation and the ministry of external affairs.

oMSDE’s implementation arm national skill development corporation (NSDC) is supporting the implementation of the project.

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10. CURRENT ACCOUNT DEFICIT (Syllabus: GS Paper 3 – Economy)

Context: India’s current account deficit (CAD) narrowed to 1% of the GDP in the second quarter of the current fiscal year from 1.1% in the previous one, and a bloated 3.8% in the year-ago period, according to the balance of payments data released by the Reserve Bank of India recently.

Current Account Deficit (CAD)

• About: It is a measurement of a country’s trade where the value of the goods and services it imports exceeds the value of the products it exports.
• Current Account Deficit Formula: Current Account Deficit = Total value of Imports – Total value of Exports
• Current Account includes: Net income, such as interest and dividends, and transfers, such as foreign aid.
• Current Account Represents: A country’s foreign transactions and, like the capital account, is a component of a country’s balance of payments (BOP).
• Current Account Deficit Components: Trade Balance, Services Balance, Income Balance, and Transfers Balance.

Balance of Payments (BOP)

• About: BoP documents the exchanges of goods, services, and assets occurring between a country's residents and the rest of the world within a defined timeframe, usually a year.
• Accounting Methodology: BoP adheres to the Double Entry System, systematically recording transactions with the rest of the world.
• BoP ledger comprises two sides: The Credit side and the Debit side – facilitating a comprehensive account of a country's economic interactions on the global stage.
• Accounts in the BoP includes: Current account and Capital account.

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