Best of PIB: 03 Feb 2017

Best of PIB for 3rd of March 2017 useful gist on economics from PIB for UPSC 2017-18 IAS Prelims Exam Preparation.

Closure of Public Sector Undertakings

  • NITI Aayog had constituted a committee on Sick/Loss making/Non performing Central Public Sector Enterprises (CPSEs) in March 2016
  • The committee has noted that financial performance of 74 CPSEs has been unsatisfactory
  • Many of them have sought budgetary support and this has been a drain on the financial resources
  • The committee has recommended winding up of 26 of these CPSEs


Pinaka Rocket

  • Two successive trials were conducted in January 2017
  • The guided version of Pinaka Rocket incorporates Inertial Navigation Systems (INS)/ Global Positioning System (Two Regiments of Pinaka Unguided Version have already been inducted in Army)
  • It has been developed for induction into Army


Indian Railways – to eliminate all Unmanned Level Crossings (UMLC)

  • The UMLCs on broad gauge to be eliminated in another r3 to 4 years
  • It would be done by any of the following
    • ClosureAll the UMLCs having NIL/Negligible Train Vehicle Unit (TVU) to be closed
    • MergerMerger of unmanned level crossing gate to nearby manned or unmanned gates or subway or Road Under Bridge (RUB) or Road Over Bridge (ROB) by construction of diversion road.
    • Provision of Subways/ RUBs
    • ManningThere will be phased manning of UMLCs which cannot be eliminated by above means



  • Joint Military Exercise between India and Maldives
  • The latest exercise was conducted in Maldives in December 2016
  • Conducted alternatively in the two countries


BHIM Application

  • Launched on 30th December 2016
  • Salient features are
    • Instant money transfer at all times
    • Direct transfer from one bank account to another
    • Scan and pay option by scanning QR code to make payment)
    • Generation and sharing of personalised QR code

NPCI introduces USSD

  • USSD – Unstructured Supplementary Service Data
  • USSD will be used for making mobile payments
  • It is an interoperable payment platform, comprising of customers, 51 banks & 11 telecom operators
  • It will provide basic banking services in 9 different languages
  • USSD works both on smart phones and feature phones

Steps taken for Welfare of Jute Workers

  • The government provides an assured market to the jute sector under the Jute Packaging Materials Act (JPM), 1987 (as per this act, 90% of food grains and 20% of sugar be packed in jute bags). The annual subsidy comes around Rs 5500.
  • Apart from this, NJB (National Jute Board) has been implementing other measures
    • Workers Welfare Scheme (Sulabh Sauchalaya) –to improve sanitation, health facilities and working conditions of jute mill workers
    • Incentives to Children of Jute Mill Workers – will extend support to the families of workers towards education of their children through a scholarship scheme
    • Export Market Development Assistance Scheme –to facilitate registered manufacturer exporters of jute products to participate in international fairs and take business delegations abroad for export promotion of lifestyle jute products.
    • Retail Outlet of Jute Diversified Products Scheme –to provide assistance to jute entrepreneurs for opening of jute outlets and jute lifestyle jute products in Metro Cities, State capitals, District Head Offices and Tourist spots



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