1. OBC ENTREPRENEURS
Entrepreneurs from Other Backward Classes (OBC) own nearly 30% of micro, small and medium enterprises (MSMEs) in the country.
About:
- As on March 31, 2022, the number of MSMEs owned by OBCs was 23.31 lakh units, out of a total of about 80.16 lakh units in the country.
- Of the OBC-owned units, around 41% are located in three States — Tamil Nadu (14.5%), Maharashtra (14.4%) and Rajasthan (12.4%), according to the data furnished by the Office of the MSME Development Commissioner.
- The data was compiled on the basis of the units that have registered themselves with the authorities through the Udyam portal.
Source: The Hindu
2. RASHTRIYA GRAM SWARAJ ABHIYAN (RGSA)
The Cabinet Committee on Economic Affairs (CCEA) approved a proposal to continue the Rashtriya Gram Swaraj Abhiyan (RGSA), a scheme for improving the governance capabilities of Panchayati Raj institutions, till 2025-26.
About:
- The CCEA approved the extension of the scheme that ended on March 31 at a total financial outlay of ₹5,911 crore, of which ₹3,700 crore would be the Centre’s share and ₹2,211 crore the share of States.
- The scheme would work towards “poverty-free and enhanced livelihood in villages; healthy villages, child-friendly villages; water-sufficient villages; clean and green villages; self-sufficient infrastructure in villages; socially-secure villages; villages with good governance and engendered development in villages.”
- Panchayats would be strengthened and a spirit of healthy competition inculcated.
- The scheme started in 2018-2019.
Source: The Hindu
3. MALCOLM ADISESHIAH AWARD
Renowned Indian economist and political commentator Prabhat Patnaik has been named the recipient of the Malcolm Adiseshiah Award this year.
About:
- The award is annually given by the Malcolm and Elizabeth Adiseshiah Trust to an outstanding social scientist for Distinguished Contributions to Development Studies.
- Patnaik has taught at the Centre for Economic Studies and Planning in the School of Social Sciences at Jawaharlal Nehru University in New Delhi, and has served as Vice-Chairman of the Kerala State Planning Board.
- Malcolm Sathiyanathan Adiseshiah (1910 – 1994), was an Indian development economist and educator. In 1976 he was awarded the Padma Bhushan.
Source: The Hindu
4. COLOUR BLINDNESS
The Supreme Court has directed the Film and Television Institute of India (FTII) not to exclude candidates suffering from colour blindness from its courses on film making and editing and asked it to make changes to its curriculum instead.
About:
- Colour blindness, also known as colour deficiency, is the inability to see colours in the normal way. Colour blind individuals often cannot distinguish between certain colours — usually greens and reds, and sometimes blues as well.
- Two types of cells in the retina detect light — the “rods”, which distinguish between light and dark, and the “cones” that detect colour. There are three types of cones that see colour — red, green, and blue — and our brains use the information from these cells to perceive colour.
- Colour blindness can be the result of the absence of one or more of these cone cells, or their failure to work properly.
Source: Indian Express
5. JULIUS NYERERE
Prime Minister Narendra Modi has paid tributes to the great leader, former Tanzania President and friend of India, Mwalimu Nyerere on his 100th Birth Anniversary.
About:
- Julius Nyerere (1922 – 1999) was a Tanzanian anti-colonial activist, politician, and political theorist.
- He governed Tanganyika as prime minister from 1961 to 1962 and then as president from 1963 to 1964, after which he led its successor state, Tanzania, as president from 1964 to 1985.
- Ideologically, he promoted a political philosophy known as Ujamaa.
6. CUSTOMS DUTY ON COTTON IMPORTS
Government has exempted the import of cotton from customs duties from today to 30th of September this year.
About:
- Ministry of Finance has issued a notification in this regard saying that the exemption on cotton import will come into effect from 14th April and remain in force till 30th of September, 2022.
- The exemption will benefit the textile chain-yarn, fabric, garments and made-ups and will also provide relief to consumers. Textile exports are also to be benefitted from this move.
- Previously, the import of cotton attracted a 5 percent basic customs duty and another 5 percent Agriculture Infrastructure Development Cess (AIDC).
Source: All India Radio
7. NEPAL’S DWINDLING FOREX RESERVES
According to an April 12 report on the ‘Current Macro Economic and Financial Situation’ by Nepal Rastra Bank, the country’s forex reserves have plummeted by 18.5% to $9.58 billion in March from $11.75 billion in July 2021.
About:
- Decline in foreign remittances are the main reason for the shortfall in forex reserves.
- There is huge inflationary pressure on the Nepal economy due to the fall in global tourist flow and the energy crisis caused by Russia’s invasion of Ukraine.
Source: The Hindu
8. QUOTA IN PROMOTIONS
The Department of Personnel and Training (DoPT) has asked all Union government departments to collect data on inadequate representation of Scheduled Castes and Scheduled Tribes before implementing the policy of reservation in promotion in government offices.
About:
- It said that following a January 28 Supreme Court judgment, the Attorney-General opined that three conditions were to be met while implementing the policy of reservation in promotions.
- These are
- Collection of quantifiable data regarding inadequacy of representation of Scheduled Castes and Scheduled Tribes;
- application of this data to each cadre separately; and
- if a roster exists, the unit for operation of the roster would be the cadre or which the quantifiable data would have to be collected and applied in regard to the filling up of the vacancies in the roster.
- Collection of quantifiable data regarding inadequacy of representation of Scheduled Castes and Scheduled Tribes;
- The order said that all the Ministries and departments are required to ensure that the conditions are complied with before implementing reservation in promotions and carrying out any promotions based thereon.
Source: The Hindu
9. INTERNATIONAL CONTAINER TRANSSHIPMENT TERMINAL (ICTT), VALLARPADAM
The economic and political turmoil in Colombo coupled with the congestion at the Colombo port has come as a blessing for ports in South India, especially the International Container Transshipment Terminal (ICTT) at Vallarpadam, Kochi.
About:
- At ICTT, Vallarpadam, Kochi, cargo traffic has increased by over 62% in March with mother vessels calling at the Cochin port.
- According to statistics available with the Cochin port, the transshipment volume at the ICTT has increased to 13,609 TEUs (twenty-foot equivalent unit) in March 2022 compared to 8,394 TEUs in March 2021.
- There were also reports that ports such as Thoothukudi, Chennai, and Mundra have become beneficiaries with traffic being diverted from Colombo due to various reasons.
Source: The Hindu
10. SOUTH ASIA ECONOMIC FOCUS RESHAPING NORMS: A NEW WAY FORWARD
India is projected to grow at 8% over the current fiscal year (April 1- March 31), and 7.1% over the next (2023-24) fiscal year, the World Bank said in its bi-annual South Asia Economic Focus Reshaping Norms: A New Way Forward, released recently.
About:
- The country is estimated to have grown at 8.3% in the fiscal year that just passed, following a contraction of 6.6% in the previous year owing to the COVID-19 pandemic.
- For the South Asia region, growth is expected to be slower than projected, by 1 percentage point, at 6.6% in 2022 and 6.3% next calendar year.
- This is due to Russia’s war on Ukraine, which has impacted the region, when it was already experiencing “fragile” growth, rising commodity prices, bottlenecks to supply and financial sector vulnerabilities.
Source : The Hindu