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Monthly DNA
14 May, 2020
69 Min Read
RERA Act,2016
Objectives of RERA
Provisions
Establishment of state level regulatory authorities- Real Estate Regulatory Authority (RERA): The Act provides for State governments to establish more than one regulatory authority with the following mandate:
Benefits
Concerns
Source: PRS/WEB
Desert Locusts
Context
Agriculture Minister Shri Narendra Singh Tomar interacts with Pesticide Industry representatives on the Desert Locust Control.
Central and State Governments are working together on the Desert Locust Control measures and have been able to check its spread. New machines have been ordered from the United Kingdom and will arrive soon.
About Desert Locusts
Reasons for its uncontrolled spread
Dangers of a Desert Locusts
Steps taken by the Indian Government to control Desert Locusts
Source: PIB/WEB
Introduction
The first tranche of announcements made by Finance Minister Nirmala Sitharaman under the Atmanirbhar Bharat Abhiyan on Wednesday is impressive indeed.
Focus areas
Fiscal package for MSMEs
Subordinated Debt
Subordinated debt is riskier than unsubordinated debt. Subordinated debt is any type of loan that's paid after all other corporate debts and loans are repaid, in the case of borrower default. Borrowers of subordinated debt are usually larger corporations or other business entities. Subordinated debt is the exact opposite of unsubordinated debt in that senior debt is prioritized higher in bankruptcy or default situations.
When a corporation takes out debt, it normally issues two or more bond types that are either unsubordinated debt or subordinated debt. If the company defaults and files for bankruptcy, a bankruptcy court will prioritize loan repayments and require that a company repay its outstanding loans with its assets. The debt that is considered lesser in priority is the subordinated debt. The higher priority debt is considered unsubordinated debt.
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Fiscal Stimulus to NBFCs
The Minister has also done well in addressing the liquidity issues of power distribution companies through a ?90,000 crore infusion that will be securitised on their receivables and backed by a State government guarantee.
While the headline numbers appear big, the reality is that the government will be called upon to bear the liability only if the economic situation becomes hopeless; it may not come to that.
Issues
Source: TH
FCRA
Context
A decision by the U.S. Centre for Disease Control and Prevention (CDC) to donate $3.6 million to Indian labs and research agencies to assist in countering COVID-19 pandemic could run into delays, given that the agency has been placed on a “watch list” since Decemver 2019.
About FCRA
Foreign Contribution Regulation Act (FCRA) is a consolidating act passed by the Government of India in the year 2010. It seeks to regulate the foreign contributions or donations and hospitality (air travel, hotel accommodation etc) to Indian organizations and individuals and to stop such contributions which might damage the national interest.
Since the Act is internal security legislation, despite being a law related to financial legislation, it falls into the purview of Home Ministry and not the Reserve Bank of India (RBI)
Need for FCRA:
The act aims at keeping a check on foreigners influencing the Indian electoral politics, journalists, public servants etc. for wrong purposes or activities detrimental to the public interest. Those violating the provisions of FCRA can be jailed up to a term of 5 years.
Salient features of FCRA 2010:
The FCRA was enacted in 1976 in order to maintain strict control over voluntary organisations and political associations that received foreign fundings.
In the year 1984, an amendment was made to the act requiring all the Non Governmental Organisations to register themselves with the Home Ministry. In 2010, the act was repealed and a new act with strict provisions was enacted.
Provisions of the FCRA 2010:
A provision was made for the cancellation of registrations of NGOs if the Home Ministry believes that the organisation is political and not neutral.
The registration certificate granted to the NGOs under the 2010 act came with a five year validity.
A provision was inserted stating that the assets of the person who has become defunct needs to be disposed off in a manner stated by the government.
A separate account needs to be maintained by the organisations to deposit the Foreign Contributions received and no other funds except for Foreign Contributions shall be deposited in that account.
Every bank would be obligated to report to the prescribed authority, the amount of foreign remittances received and other related details such as the source, manner of receipt etc.
Who can accept Foreign Contribution?
Organizations working for definite cultural, social, economic, educational or religious programs, if and only if they are
Who are debarred from receiving Foreign Contribution?
Source: TH
Global Nutrition Report
The Global Nutrition Report was conceived following the first Nutrition for Growth Initiative Summit (N4G) in 2013. The first report was published in 2014.
It acts as a report card on the world’s nutrition—globally, regionally, and country by country—and on efforts to improve it. It is a multi-stakeholder initiative, consisting of a Stakeholder Group, Independent Expert Group and Report Secretariat.
Source: TH
Smart Metering Programme (SMP)
Part of: GS-III- Energy (PT-MAINS-PERSONALITY TEST)
According to the Energy Efficiency Services Limited (EESL), the Smart Metering Programme (SMP) is helping electricity distribution companies (discoms) generate 95% of billing efficiency during the lockdown. The discoms using smart meters have seen 15-20% average increase in monthly revenue per consumer. EESL, a Public Sector Undertaking (PSU) under the Ministry of Power, Government of India, is the designated agency to implement the smart metering programme in India.
Benefits of Smart Meters
Challenges
Source: TH
Overcoming inertia
Starting new habits is tough and requires overcoming inertia. Most of the time humans like maintaining the status quo.
The majority of us don’t change the default settings when we buy a new mobile phone.
Nor we do change the default settings of any new app we download.
The tendency to stick with defaults happens across different aspects of our lives, from personal to social to office work.
Rise of New habits
Physical distancing habit in India
One habit that we Indians are not used to is maintaining sufficient physical distance from one another in public spaces.
There are many reasons for this are:
Environmental factors
Behavioural nudges
Maintaining physical distancing
Source: TH
A group of 50 IRS officers thought it their duty to help the government in this hour of crisis. They prepared a report titled ‘Fiscal Options and Response to Covid-19 Epidemic’, or FORCE, and submitted it to the government.
In order to tide over the financial crisis, the report suggested :
1. Raising the highest slab rate to 40% for income above ?1 crore
2. Re-introducing the wealth tax for those with a wealth of? 5 crores or more
3. Providing an additional one-time cess of 4% on taxable income of? 10 lakh and above for COVID-19 relief
4. Providing tax relief for sectors hit hard by COVID-19
5. Re-introducing the inheritance tax.
Source: TH
The BIO International Convention is hosted by the Biotechnology Innovation Organization (BIO). India is represented by the Minister of State for Science and Technology and Earth Sciences.
Source: Web
India became the 71st country to ratify the United Nations TIR (Transports Internationaux Routiers) Convention. TIR Convention is an international transit system under the auspices of the United Nations Economic Commission for Europe (UNECE). It came into force in 1975.
Source: Web
Rhododendron is a large genus of flowering plants and is found mainly in Eastern Himalayas, Western Himalayas and Nilgiris. Some plants of Rhododendron are evergreen and some are deciduous in nature.
Source: Air
The Bureau of Energy Efficiency (BEE) launched a code for new commercial buildings in the country. Energy Conservation Building Code (ECBC) 2017 was developed by the Ministry of Power and BEE.
Source: TH
Cartosat – 2 launched through PSLV C-38. Cartosat is a series of earth observation satellites placed in the Polar Sun Synchronous Orbit (PSSO).
Source: TH
Operation Swarn is launched by the Railway Ministry to improve services in Rajdhani and Shatabdi Express trains.
Source: Web
Steps to control Climate Change – Analysis by Dr.Anil Kakodkar Introduction On the occasion of National Technology Day, a day which marks the anniversary of Pokhran Nuclear Tests of 1998, Former Chairman, Atomic Energy Commission and Chairman, Rajiv Gandhi Science & Technology Commis
Atmanirbhar Bharat Introduction PM announces special economic package; a comprehensive package of Rs 20 lakh crore- package equivalent to 10% of India’s GDP PM gives a call for a self-reliant India; lays down five pillars of Atmanirbhar Bharat. Self-reliant India Talking about t
BPPI Contributes Rs.25 Lakh to PMCARES fund Context To support government in its fight against COVID-19, Bureau of Pharma PSUs of India(BPPI) Under the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers has contributed Rs. 25 Lakh to PMCARES fund. About BPPI Bureau of P
CHAMPIONS portal - MSME Introduction In a major initiative, the Union Ministry of MSME has launched the CHAMPIONS portal. About CHAMPIONS portal CHAMPIONS portal is a Technology driven Control Room-Cum-Management Information System. The system utilising modern ICT tools is ai
Getting cash transfers out of a JAM By, Jean Drèze is Visiting Professor at the Department of Economics, Ranchi University; Reetika Khera is Associate Professor of Economics at IIM Ahmedabad Introdcution For some years now, the so-called JAM trinity (Jan Dhan-Aadhaar-Mobile) has been
Italy, India and a common thread in partnership By, Vincenzo de Luca is the Ambassador of Italy to India Introduction May 4 is a date that unites Italy and India in the current COVID-19 scenario. It is the day when both countries courageously decided to strike a fine balance between the nee
Rajya Sabha Analysis- Do numbers matter in Rajya Sabha? By, (M. Venkaiah Naidu is Chairman of Rajya Sabha) The Indian Constitution provides for parity of powers between the Lok Sabha and the Rajya Sabha in law, making an exception in some cases. The Money Bill or Finance Bills can be introd
SC & 4G Services in J&K Part of: GS-II- Governance and Federal Issues (PT-MAINS-PERSONALITY TEST) Recently, the Supreme Court refused to restore 4G services in Jammu & Kashmir and ordered the setting up of a high-powered committee to look into the cont
APMC amendments Part of: GS-III- Economy -Agriculture (PT-MAINS-PERSONALITY TEST) Recently, Gujarat’s state government has cleared the Gujarat Agricultural Produce Markets (Amendment) Ordinance 2020, earlier it was conducted by MP gov. It has ended the monopoly of state-r
UV Radiation and classification UV-C: Short-wavelength. Most harmful but are completely absorbed by the Earth’s atmosphere and does not reach the Earth’s surface. UV-B: Medium-wavelength. Biologically active but cannot penetrate beyond the superficial s
National Technology Day Context Prime Minister Shri Narendra Modi today paid tributes to all the scientists in the country who are using science and technology to bring a positive difference in the lives of others. On National Technology Day (May 11th), our nation salutes all those who are
One Nation One Ration Card system. Context The timeline given to all States/UTs, under the Aadhaar notification of the Department of Food and Public Distribution dated 07.02.2017 (as amended from time-to-time) to complete the seeding of Aadhaar numbers with all ration cards/beneficiaries, has
Gandhi Peace Prize Context The Ministry of Culture invites nominations for awarding Gandhi Peace Prize every year. The nominations are to be made in accordance with the provisions of the Code of Procedure for the Gandhi Peace Prize which is available in the Ministry of Culture. About the Ga
The polar vortex brings spring snow to parts of North America Part of: GS-I- Geography (PT-MAINS-PERSONALITY TEST) Winter in May - snowfall covers parts of the northeast United States and Canada. A polar vortex has brought cold weather and springtime snow to parts of the northeast United
MERIT Portal ‘MERIT’ - Merit Order Despatch of Electricity for Rejuvenation of Income and Transparency. The portal has been developed by Ministry of Power in association with POSOCO and Central Electricity Authority. It displays extensive array of information regarding the meri
City Liveability Index The index was launched by the Ministry of Urban Development. The index is for measuring the quality of life in 116 major cities including smart cities, capital cities and cities with a population of above one million each. It accesses cities on a comprehensive set of
SwasthVayu ventilator Context CSIR - National Aerospace Laboratories (NAL) Bangalore, a constituent of the lab of CSIR has developed a Non-Invasive BiPAP Ventilator in a record time of 36 days to treat COVID-19 patients. About BiPAP Non-Invasive ventilator BiPAP Non-Invasive venti
Bright nights It is a phenomenon in which the night sky is bright enough to read a book even in the absence of moonlight. A new theory says it is due to slow-moving, high-altitude atmospheric waves merging together and amplifying the light from the naturally occurring airglow. The theory s
VAJRA scheme Recently, the Department of Science and Technology (DST) launched a scheme named 'Visiting Advanced Joint Research Faculty (VAJRA). Under this scheme, scientists or senior researchers abroad of Indian origin or otherwise can collaborate with Indian faculties for conducting j
NISAR NASA-ISRO Synthetic Aperture Radar satellite (NISAR) is the world’s most expensive earth imaging satellite. NISAR is dual frequency RADAR, it is an L-band and S-band RADAR. It is the first such satellite using dual frequency RADAR. The S-band is being built by ISRO and L-band b
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