Swarna Jayanti Fellowship.
The
Department of Science & Technology (DST) has selected 21 scientists for the
Swarna Jayanti fellowship.
The
Swarna Jayanti Fellowships scheme was instituted by the Government of India to
commemorate India's fiftieth year of Independence.
It
provides special assistance and support to a selected number of young
scientists with a proven track record to enable them to pursue basic research
in frontier areas of science and technology.
The
award consists of a Fellowship of Rs. 25000 per month in addition to the salary
drawn from the parent Institute along with a Research Grant of Rs. 5 lakh per
annum by Department of Science and Technology (DST) for a period of 5 years. In
addition to fellowship, grants for equipment, computational facilities,
consumables, contingencies, national and international travel, and other
special requirements, if any, is covered based on merit.
The fellowships are scientist specific and not institution-specific, very selective, and have close academic monitoring.
Scientists
selected for the award are allowed to pursue unfettered research with a freedom
and flexibility in terms of expenditure as approved in the research plan.
The
project should contain innovative research ideas and it should have a potential
of making impact on R&D in the discipline.
The
project submitted by the selected Fellows are considered for funding by the
Science & Engineering Research Board (SERB) as per SERB norms.
SERB
is a statutory body under the Department of Science and Technology, established
by an Act of the Parliament of India in 2009.
Jharkhand Assembly passes resolution on Sarna Code.
Jharkhand
Assembly unanimously passed a resolution on Sarna Code during a special one-day
assembly session on November 11, 2020.
The
resolution seeks the inclusion of Sarna as a separate religion in the 2021
Census. Jharkhand Chief Minister Hemant Soren said that the resolution will now
be sent to the Centre for approval.
Highlights:
Jharkhand
Chief Minister Hemant Soren had tabled the proposal seeking the provision of a separate
‘Sarna Code’ for the tribals in the state.
•The
BJP legislators had proposed an amendment to the resolution seeking removal of
the oblique from ‘tribal/Sarna’ word in it.
•The
Jharkhand CM said that his government is sensitive to people’s sentiments and
accepted the amendment and following this, all the parties supported the
resolution.
The
resolution seeks a special column for followers of the ‘Sarna’ religion in the
Census 2021.
Who are Sarna followers?
Sarna
followers are worshippers of nature, who do not consider themselves as Hindus
and have been fighting for a separate religious identity for decades. They
don't have a separate religious entity at present.
The
tribal leaders across Jharkhand have been demanding for the implementation of
the Sarna Code in census surveys. This would allow the tribals to be identified
as followers of the Sarna faith during the 2021 census. So far, the surveys
have included them as “others” in the religion column.
As
per the tribal leaders, there was a separate Sarna Code from 1871 to 1951 but
it was removed in 1961 under a conspiracy. They had also claimed that during
the 2011 Census, the National Commission for Scheduled Tribes had recommended
Centre to add the Sarna code in the Census, but it was not implemented.
Technical Recession in India.
According
to the Reserve Bank of India's, “nowcasting”, India’s economy will contract by
8.6% in the second consecutive quarter (July, August, September) of the current
financial year which means the economy is in a ‘technical recession’.
In
simpler words, a technical recession is two quarters in a row of economic
contraction.
Nowcast:
Nowcast
in economics means the prediction of the present or the very near future of the
state of the economy.
Nowcast
began with the first issue of the Bulletin in January 1947, but interrupted
during the period 1995 to date.
Current Scenario:
In
the second quarter the pace of contraction is 8.6%.
This is considerably slower than the 23.9% decline in the real GDP during the first quarter (April, May, June).
Implication:
The
contraction implies that India has entered a technical recession in the first
half of 2020-21 for the first time in its history.
Key Economic Words
Gross
Domestic Product (GDP) is the final value of the goods and services produced
within the geographic boundaries of a country during a specified period of
time, normally a year.
Expansionary
Phase: When the overall output of goods and services typically measured by the
GDP increases from one quarter (or month) to another.
Recessionary
Phase: When the overall output of goods and services typically measured by the
GDP decreases from one quarter (or month) to another.
Business
Cycle: It is composed of concerted cyclical upswings and downswings in the
broad measures of economic activity which are output, employment, income, and
sales in other words it is a cycle created by the expansionary and recessionary
phases clubbed together.
Recession:
It is a macroeconomic term that refers to a slowdown or a massive contraction
in economic activities for a long enough period, or it can be said that when a
recessionary phase sustains for long enough, it is called a recession.
Depression:
It is a deep and long-lasting period of negative economic growth, with output
falling for at least 12 months and GDP falling by over 10% or it can be
referred to as a severe and prolonged recession.
First shipment from Bangladesh through water connectivity
route.
India
has received the first commercial shipment from Bangladesh through water route
on November 9, 2020. The shipment was received Assam’s Karimganj on the
Protocol for Inland
Water Trade and Transit (PIWTT) route. This is a step towards utilizing the inland waterway connectivity for trade and prosperity between both the countries.
About Protocol on Inland Water
Transit and Trade (PIWTT)
India
and Bangladesh have a Protocol on Trade and Transit through inland waterways.
The protocol was first signed in 1972 and renewed in 2015.
The
protocol allows making mutual arrangements for using the waterways of both the
countries for commerce.
The
protocol now has a provision of automatic renewal after 5 years.
Recently,
a second addendum has been added to the protocol on May 20, 2020 which includes
new Indo Bangladesh Protocol (IBP) routes and port of call.
According
to the 2nd addendum, the number of IBP routes has been increased to 10 from 8
and new locations have also been included.
The
number of Port of Call was increased to 11 with 2 extended Ports of Call in
each country.
This
second addendum to the protocol was signed in Dhaka, Bangladesh.
Earlier,
in order to strengthen ties between both the countries, Indian Army gifted 10
mine detection dogs and 20 fully trained military horses to the Bangladesh
Army. Indian Army has also trained the Bangladesh Army personnel for handling
and training these military horses and detection dogs.
World Diabetes Day.
World
Diabetes Day is the primary global awareness campaign focusing on diabetes
mellitus and is held on 14 November each year.
Led by the International Diabetes Federation (IDF), each World Diabetes Day focuses on a theme related to diabetes; type-2 diabetes is largely preventable and treatable non-communicable disease that is rapidly increasing in numbers worldwide. Type 1 diabetes is not preventable but can be managed with insulin injections.[2] Topics covered have included diabetes and human rights, diabetes and lifestyle, diabetes and obesity, diabetes in the disadvantaged and the vulnerable, and diabetes in children and adolescents. While the campaigns last the whole year, the day itself marks the birthday of Frederick Banting who, along with Charles Best and John James Rickard Macleod, first conceived the idea which led to the discovery of insulin in 1922.
Scorpene INS Vagir launched.
Fifth
Scorpene class submarine of Project-75 named ‘Vagir’ has been launched at
Mazagon Dock in Mumbai.
The
first Vagir, a submarine from Russia, was commissioned into Indian Navy on 3rd
December 1973 and was decommissioned on 7th June 2001 after almost three
decades of service to the nation.
Public
shipbuilder Mazagon Dock Ltd (MDL) gave a new incarnation to the submarine with
the same name.
It
is named after the Sand Fish, a deadly deep sea predator of the Indian Ocean.
It
is a part of the six Kalvari-class submarines being built in India.
The
state-of-art technology used in the submarine has ensured:
Superior
stealth features such as advanced acoustic absorption techniques, low radiated
noise levels, and hydro-dynamically optimised shape.
The
ability to attack the enemy using precision guided weapons.
The
submarine is designed to operate in all theatres of operation, showcasing
interoperability with other components of a Naval Task Force.
It
can launch attacks with both torpedoes and tube launched anti-ship missiles,
whilst underwater or on surface.
It
can undertake multifarious types of missions i.e Anti-Surface warfare,
Anti-Submarine warfare, Intelligence gathering, Mine Laying, Area Surveillance,
etc.
It
is a programme by the Indian Navy that entails building six Scorpene Class
attack submarines.
Scorpene
is a conventional powered submarine weighing 1,500 tonnes and can go up to
depths of 300m.
It
is given support by the Department of Defence Production (Ministry of Defence)
and Indian Navy throughout its various phases of construction.
The
MDL is manufacturing six Scorpene submarines with technology assistance from
Naval Group of France under a USD 3.75 bn deal signed in October 2005.
Other submarines of the ongoing
Project-75:
Two
submarines, Kalvari and Khanderi, have been commissioned into the Indian Navy.
The
third submarine, Karanj, is in the last phase of rigorous sea trials.
The
fourth Scorpene, Vela, has commenced its sea trials.
The
sixth and last submarine, Vagsheer, is being readied for boot together.
Researchers found New Specie of frog .
Recently
a group of scientists has reported a new genus of treefrog from the Andaman
Islands called Striped Bubble-nest frog.
Biological
name: Rohanixalus vittatus
The
new genus ‘Rohanixalus’ is named after Sri Lankan taxonomist Rohan Pethiyagoda.
Striped
Bubble-nest frog belongs to the genus of the Old World treefrog family
Rhacophoridae. This is the first report
of a tree frog species from the Andaman Islands.
Bodily Features
Small
and slender body (2-3 cm long).
Light
green-coloured eggs laid in arboreal bubble-nests.
Arboreal
means living in trees or related trees
They
are also known as Asian Glass Frog or see through frogs.
While
the general background coloration of most glass frogs is primarily lime green,
the abdominal skin of some members of this family is translucent (allowing
light to pass through). The internal viscera, including the heart, liver, and
gastrointestinal tract, are visible through this translucent skin, hence the
common name.
The genus has several unique
behavioural traits:
Maternal egg attendance:
The
female (mother) attends the egg clutches until hatching and assists in release
of the tadpoles into the water.
During
the first three days after egg laying, the female sits over the eggs and
produces a gelatinous secretion with which she glazes (covers) the egg mass
through clockwise movement of her legs. This behaviour provides necessary
moisture to the eggs laid on exposed leaf surfaces and protects them from
insect predation.
Community
egg attendance:
A
large number of egg clutches (over 50) of different developmental stages on a
single leaf or plant. Multiple females usually attend such clutches in a
behaviour termed as ‘community’ egg attendance.
Frequent
male-male combats involving pushing, kicking and dislodging to mate with a
female.
7th ASEAN-India Summit.
Recently,
India has participated in the 17th ASEAN-India Virtual Summit on the invitation
of Vietnam, the current Chair of Association of Southeast Asian Nations
(ASEAN).
The
summit focused on measures to recover from the economic turmoil triggered by
the Covid-19 pandemic and ways to further broad-base strategic ties.
Key Points
ASEAN’s
Centrality with respect to:
India's Act East Policy:
Against
the backdrop of aggressive moves by China, including the Ladakh standoff, India
placed the ASEAN at the centre of India’s Act East policy and held that a
cohesive and responsive ASEAN is essential for security and growth for all in
the region.
India's
Indo-Pacific Vision and Security And Growth for All in the Region Vision:
India
underscored the importance of strengthening convergence between India's
Indo-Pacific Oceans Initiative (IPOI) and the ASEAN Outlook on Indo-Pacific, to
ensure a free, open, inclusive and rules-based region.
It
also highlighted the importance of cooperation by ASEAN in for the Security And
Growth for All in the Region (SAGAR) Vision.
Regional Comprehensive Economic
Partnership:
India
would explore ways to increase trade despite its exit from the 15-nation RCEP
agreement in 2019.
The
RCEP free trade agreement is expected to be signed on 15th November 2020
between China, Australia, South Korea, Japan, and the ASEAN Members.
South China Sea:
Affirmed
the importance of maintaining and promoting peace, stability, safety and
security in the South China Sea, and ensuring freedom of navigation and
overflight.
Noted
the importance of promoting a rules-based order in the region including through
upholding adherence to international law, especially the United Nations
Convention on the Law of the Sea (UNCLOS).
Regulating Covid-19 Pandemic:
India
welcomed ASEAN’s initiatives to fight the pandemic and announced a contribution
of USD 1 million to Covid-19 ASEAN Response Fund.
It
also underlined the importance of cooperation and regular exchanges in the
field of traditional medicines as a source of healthy and holistic living.
Trade and Investment:
India
underlined the importance of diversification and resilience of supply chains
for post-Covid-19 economic recovery.
India
called for an early review of ASEAN-India Trade in Goods Agreement (AITIGA),
which is pending for a long time.
Connectivity:
Underscoring
the importance of greater physical and digital connectivity, India reiterated
its offer of USD 1 billion Line of Credit to support ASEAN connectivity.
India’s
Significance Highlighted by ASEAN:
Towards
promoting peace and stability in the region and India’s support to ASEAN
centrality.
Acknowledged
India’s capacity-building initiatives, including the PhD Fellowship Programme
at IITs and setting up of Centres for Excellence in Software Development and
Training.
Association of Southeast Asian
Nations
It
is a regional grouping that promotes economic, political, and security
cooperation.
It
was established on 8th August 1967 in Bangkok, Thailand with the signing of the
ASEAN Declaration (Bangkok Declaration) by the founding fathers of ASEAN,
namely Indonesia, Malaysia, Philippines, Singapore and Thailand.
Ten
Members: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines,
Singapore, Thailand, and Vietnam.
Chairmanship:
It rotates annually, based on the alphabetical order of the English names of
Member States.
ASEAN
countries have a total population of 650 million people and a combined Gross
Domestic Product (GDP) of USD 2.8 trillion. It is India’s 4th largest trading
partner with about USD 86.9 billion in trade.
The
group has played a central role in Asian economic integration, signing six
free-trade agreements with other regional economies and helping spearhead negotiations
for what could be the world’s largest free trade pact.
Way Forward
A
cohesive and responsive ASEAN is essential for security and growth for all in
the region and cementing the connection between India and ASEAN on all fronts,
including economic, social, digital, financial, maritime, is an important
priority area. ASEAN-India Strategic Partnership stands on a strong foundation
of shared geographical, historical and civilisational ties. A fruitful exchange
with ASEAN leaders and a successful Summit will further strengthen this
relationship.
The
government has announced a fresh set of measures, worth around Rs. 1.2 lakh
crore, to boost job creation, provide liquidity support to stressed sectors and
encourage economic activity in housing and infrastructure areas.
An
additional outlay of Rs. 65,000 crore is being provided as a fertiliser subsidy
to support increasing demand on the back of a good monsoon and sharp increase
in the crop-sown area.
The
measures have been announced under Aatmanirbhar Bharat 3.0. The recent
announcement of Expansion of Production Linked Incentives (PLI) Scheme to 10
more sectors is also a part of Atmanirbhar Bharat 3.0.
Atmanirbhar Bharat Rozgar Yojana:
Aim:
It is aimed at incentivising the creation of new employment opportunities
during the Covid-19 economic recovery phase.
Government
Contribution: It will provide subsidy for provident fund contribution for
adding new employees to establishments registered with the Employees’ Provident
Fund Organisation (EPFO).
The
organisations of up to 1000 employees would receive employee’s contribution
(12% of wages) & employer’s contributions (12% of wages), totalling 24% of
wages, for two years.
Employers
with over 1,000 employees will get employees’ contribution of 12%, for two
years.
The
subsidy amount under the scheme will be credited upfront only in Aadhaar-seeded
EPFO accounts (UAN) of new employees.
Eligibility
Criteria for Establishments: Establishments registered with EPFO will be
eligible for the benefits if they add new employees compared to the reference
base of employees as in September 2020.
Establishments,
with up to 50 employees, would have to add a minimum of two new employees.
Target Beneficiaries:
Any
new employee joining employment in EPFO registered establishments on monthly
wages less than Rs. 15,000.
Those
who left their job between 1st March to 30th September and are employed on or
after 1st October.
Time
Period: The scheme will be effective from 1st October, 2020 and operational
till 30th June 2021.
ECLGS 2.0:
Emergency
Credit Line Guarantee Scheme (ECLGS) 2.0 is being launched for the Healthcare
sector and 26 stressed sectors (as identified by the Kamath Committee) with
credit outstanding of above Rs. 50 crore and up to Rs. 500 crore as on 29th
February 2020 stressed due to Covid-19, among other criteria.
Entities
will get additional credit up to 20% of outstanding credit with a tenor of five
years, including a 1 year moratorium on principal repayment.
This
scheme will be available till 31st March, 2021.
Additional
Outlay for PM Awas Yojana - Urban:
A
sum of Rs. 18000 crore is being provided for PMAY- Urban over and above Rs. 8000
Crore already allocated this year.
This
will help ground 12 Lakh houses and complete 18 Lakh houses, create additional
78 Lakh jobs and improve production and sale of steel and cement, resulting in
a multiplier effect on the economy.
PMAY
- Urban Mission was launched in 2015 with an intention to provide housing for
all in urban areas by year 2022.
Relaxation
of Earnest Deposit Money & Performance Security on Government Tenders:
Performance
security deposit on contracts has been reduced to 3% from around 5-10%, while
Earnest Deposit Money (EMD) will not be required.
The
relaxations provided till 31st December, 2021 will be a major relief to the
construction sector as it will free up the capital of the contractors and will
enhance their financial ability to carry out the project.
Security
Deposit: The contractor is required to deposit with the owner a sum stated as a
percentage of the cost of the work in order to safeguard the interests of the
owner in the event of improper performance of the contract.
Earnest
money: It is assurance or guarantee in the form of cash on the part of the
contractor to keep open the offer for consideration and to confirm his
intentions to take up the work accepted in his favour for execution as per
terms and conditions in the tender.
Income
Tax relief for Developers & Home Buyers:
Developers
have been allowed to sell their housing units at 20% lower than the circle rate
by increasing the permissible differential from 10% to 20% (Section 43 CA of IT
Act).
Circle
rates, also known as ready-reckoner rates, are official area-wise prices set by
state governments and are considered by the Income-Tax Department to assume
purchase prices.
The
government has allowed a differential of 20% between actual prices and circle
rates, up from 10% earlier.
The
benefit will, however, be available only on primary sale of residential units
with price value up to Rs. 2 crore until 30th June, 2021.
Infra
Debt Financing:
Government
will make Rs. 6,000 Crore equity investment in debt platform of National
Investment and Infrastructure Fund (NIIF), which will help NIIF provide a debt
of Rs. 1.1 Lakh Crore for infrastructure projects by 2025.
Additional
outlay of Rs. 10,000 Crore is being provided for PM Garib Kalyan Rozgar Yojana
to provide rural employment. This will help accelerate the rural economy.
Boost for Project Exports:
Rs.
3,000 Crore boost is being provided to EXIM Bank for promoting project exports
under Indian Development and Economic Assistance Scheme (IDEAS Scheme).
Under
the IDEAS Scheme, most recipient countries get Indian firms executing projects
such as railway lines, transmission lines and so on.
Capital and Industrial Stimulus:
Rs.
10,200 Crore additional budget stimulus is being provided for capital and
industrial expenditure on domestic defence equipment, industrial infrastructure
and green energy.
R&D grant for Covid Vaccine:
Rs.
900 Crore is being provided to the Department of Biotechnology for Research and
Development of Indian Covid Vaccine.
Analysis
The
latest announcement reinforces the ‘fiscal conservatism’ ideology of the
government, i.e. rather than large cash transfers, the growth philosophy
centres around creating an ecosystem that aids domestic demand, incentivises
companies to generate jobs and boost production, and simultaneously extends
benefits to those in severe distress, be it firms or individuals.
The
measures follow a multi-pronged approach, aimed at generating employment and
encouraging formalisation of the workforce in urban areas, expanding the scope
of distress employment provided in rural areas, easing the flow of credit to
stressed parts of the economy, expanding the incentives offered to boost
domestic manufacturing, and kickstarting the real estate cycle, among others.
As
per the government, the total stimulus announced by the Government and Reserve
Bank of India (RBI) till date (including Atmanirbhar 1.0 and Atmanirbhar 2.0),
to help the nation tide over the Covid-19 pandemic, works out to Rs. 29.87 lakh
crore, which is 15% of national GDP.
Out
of this, the stimulus worth 9% of GDP has been provided by the government.
Way Forward
The
government’s announcements focus on job creation, easing credit flow, but
actual spending remains limited. More support is needed.
The
finance ministry’s view of the state of the economy suggests that it believes a
strong and durable recovery is taking hold. This is partly in line with the
results of a study carried out by economists at the RBI, who now expect the
economy to contract at a slower pace in the second quarter than what was
expected before.
As
the RBI noted in its ‘State of the Economy’ report, while it is possible that
the third quarter (October-December) may not see a contraction in GDP growth,
there are significant risks — relentless pressure of inflation, poor global
growth following a second wave of Covid-19, and intensifying stress among
households and firms both. Thus, the government needs to take steps
accordingly.
