06 Apr 2023: PIB Summary for UPSC

TABLE OF CONTENTS

1. Distribution of Fortified Rice
2. Samudrayaan Mission
3. Revised Domestic Gas Pricing Guidelines
4. Amendments to the Information Technology Rules, 2021
5. Budget Session 2023
6. Biotech KISAN Scheme
7. Bimonthly Monetary Policy

1. Distribution of Fortified Rice

Syllabus – GS3, Public Distribution System 

Prelims – Fortified rice- Public Distribution System.

Context – The centre to supply fortified rice in every social safety net scheme of the centre throughout the country by 2024 in a phased manner.

Details –

• As many as 269 districts in 27 States have started distributing fortified rice under the Targeted Public Distribution System (TPDS), achieving a 100% target set for Phase II by March 2023 in the Rice Fortification Programme.
• Under Phase II, about 105 LMT of fortified rice was lifted targeting 27 states/UTs for PDS. Also, under Phase II, 29 LMT was lifted by the states/UTs for ICDS (Integrated Child Development Services) and PM POSHAN, thus making a total of about 134 LMT fortified rice lifted in FY 2022-23.
• Phase I was implemented in FY 2021-22, and covered ICDS and PM POSHAN.
• Under phase III, the government is set to cover the remaining districts except for wheat-consuming ones before the target of March 2024.
• The cumulative annual Fortified Rice Kernel (FRK) manufacturing capacity has increased more than 18-fold from 0.9 LMT (34 FRK Manufacturing) in August 2021 to 17 LMT (More than 400 FRK manufacturers).
• FSSAI is the regulatory authority for food fortification, has drafted standards for Fortified Rice Kernels (FRK) and has provided directions to all stakeholders to adhere to the draft standards.

Also read – Poshan Abhiyaan

2. Samudrayaan Mission

Syllabus – GS3, Water Resources

Prelims – Samudrayaan Mission, Deep Ocean Mission.

Context – Deep sea exploration conducted at a depth of 5270 m using OME 6000.

Details –

• The Samudrayaan Mission was launched in September 2021 under the Deep Ocean Mission –  with a budgetary outlay of Rs 119 cr.
  • The Deep Ocean Mission was approved in June 2021 by the (MoES). It aims to explore the deep ocean for resources, develop deep-sea technologies for sustainable use of ocean resources, and support the Blue Economy initiatives of the Indian Government.
• In December 2022, deep ocean exploration for Polymetallic Manganese Nodule at the Central Indian Ocean basin preliminary trial was conducted at a depth of 5270 m using Autonomous Underwater Vehicle, Ocean Mineral Explorer 6000 (OME 6000) to obtain oceanographic, geophysical and seabed characteristics. This information was given by the Union Minister, Dr Jitendra Singh.
• The analysis, integration and interpretation of the collected data revealed multiple locales of potential hydrothermal venting and mineralisation on the sea floor of the Indian Ocean. Also, several new biological species have been mapped and identified.

3. Revised Domestic Gas Pricing Guidelines

Syllabus – GS3, Mobilisation of Resources

Prelims – Revised Domestic Gas Pricing Guidelines.

Context – The Cabinet Committee on Economic Affairs has approved the revised domestic gas pricing guidelines.

Details –

• The Union Cabinet has approved revised guidelines for domestic gas pricing, with natural gas prices set at 10% of the monthly average of the Indian crude basket and shall be notified on a monthly basis. Gas produced from new wells or well interventions in the nomination fields of ONGC and OIL would be allowed a premium of 20% over the APM price (Administered Price Mechanism)
• The guidelines will be applicable to the gas produced from nomination fields of ONGC/OIL, new exploration licence policy blocks (NELP) and pre-NELP blocks.
• The move will ensure stable pricing in the regime and provide adequate protection to producers from adverse market fluctuation.
• The reforms will lead to a significant decrease in prices of Piped Natural Gas (PNG) for households and Compressed Natural Gas (CNG) for transport.
• The revised pricing guidelines will also promote a lower carbon footprint through the growth of a gas-based economy.
• Currently, domestic gas prices are fixed every six months based on prices at four gas trading hubs – Henry Hub, Albena, National Balancing Point (Britain) and Russia.

4. Amendments to the Information Technology Rules, 2021

Syllabus – GS2, Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Prelims – Amendments to IT Rules, 2021.

Context – The Ministry of Electronic and IT (MeitY), GoI notified amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, related to online gaming and the spread of false and misleading information about government business.

 Details–

• These amendments lay out a comprehensive framework for Online Gaming Ecosystem and also deal with fact-checking related to online content pertaining to Government.
• The rules formalised the regulation of online gaming, setting up a self-regulatory body for the industry. The self-regulatory body will have the authority to inquire and satisfy itself that the online game does not involve wagering on any outcome, and that the online gaming intermediary and the game comply with the rules.
• These rules will address the challenges of catalysing and expanding online gaming innovation and also protect citizens from illegal betting and wagering online. Online gaming startups and innovation are being powered by young Indians across the country and the rules will provide clarity and certainty in terms of the policy framework for them.
• Under the Rules, MEITY will also notify an agency to fact-check false & misleading information related to Govt business.

5. Budget Session 2023

Syllabus – GS2, Government Budgeting 

Prelims – Budget Session 2023

Context – The Budget Session 2023 of Parliament was adjourned Sine Die.

Details –

• Budget Session 2023: Both the Lok Sabha (11th session of 17th Lok Sabha) and the Rajya Sabha (259th session of Rajya Sabha) were adjourned sine die (April 6), bringing an end to the Budget Session that registered productivity of 34 per cent in the Lower House and 24.4 per cent in the Upper House. 
• Budget Session 2023 provided a total of 25 sittings.
• The Union Budget for 2023-24 was presented on February 1, 2023. A general discussion on the Union Budget was held in both Houses in the first part of the Session. A total of 145 members of the Lok Sabha and 12 members of the Rajya Sabha participated in the discussion on the subject. 
• During this session, a total of eight bills (eight in the Lok Sabha) were also introduced.
• The following bills were passed and returned by both Houses:
  • The Finance Bill, 2023; 
  • The Jammu and Kashmir Appropriation Bill, 2023; 
  • The Jammu and Kashmir Appropriation (No. 2) Bill, 2023; 
  • The Appropriation (No. 2) Bill, 2023; 
  • The Appropriation Bill, 2023 and
  • The Competition (Amendment) Bill, 2023.

6. Biotech KISAN Scheme

Syllabus – GS2, Government policies and interventions.

Prelims – Biotech KISAN (Krishi Innovation Science Application Network) Scheme.

Context – More than 1,60,000 farmers have benefited from Biotech KISAN from January 2022 to December 2022.

Details –

• The Union Minister, Dr Jitendra Singh informed the Rajya Sabha that more than 1,60,000 farmers have benefited from Biotech KISAN in 2022.
• It was launched (in 2017) for agriculture innovation with the objective to connect science laboratories with farmers to find out innovative solutions and technologies to be applied at the farm level.
• Under the scheme farmers are provided counselling and demonstrations on improved seed, planting stock of vegetables, interventions for use of plant growth-promoting rhizobacteria (PGPRs)/bio-fertilizers, irrigation & protected cultivation technologies, improved livestock (goat, pig), poultry and fishery as well as health management of livestock/poultry.

7. Bimonthly Monetary Policy

Syllabus – GS3, Planning, Growth & Development

Prelims – Monetary Policy, Monetary Policy Committee (MPC)

Context – MPC has decided to keep the repo rate unchanged at 6.5%.

Details –

• The Monetary Policy Committee has decided unanimously to keep the repo rate unchanged at 6.5%. Also, the Standing Deposit Facility (SDF) rate will remain unchanged at 6.25% and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.75%.
• After raising the repo rate in six consecutive policies, the Reserve Bank of India (RBI) decided to pause its rate hike cycle amid rising concerns over global financial stability. 
• The decision to keep the repo rate unchanged was taken unanimously by all the six Monetary Policy Committee (MPC) members even as inflation continues to remain above the tolerance band of 2-6 per cent. 
• The RBI Governor Shaktikanta Das informed that India’s real GDP growth for 2023-24 is projected at 6.5 %, with Q1 at 7.8 %; Q2 at 6.2%; Q3 at 6.1%; and Q4 at 5.9%.
• The Governor informed that CPI inflation is projected to moderate to 5.2 % for 2023-24. In February, the retail inflation for FY 2024 was projected at 5.3%.

Read the previous PIB articles here.

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