06 Dec 2023: PIB Summary for UPSC

TABLE OF CONTENTS

1. Startup India initiative
2. Battery swapping policy for EVs
3. National Green Hydrogen Mission

1. Startup India initiative

Syllabus: GS-3, Economy; GS-2, Govt Schemes

Prelims: Startup India initiative

Context:

The government recognised 1,14,902 entities as startups as of 31st October 2023.

Details:

• The Startup India programme was launched in 2016 by the government. Know more about Startup India in the link.

Three flagship Schemes implemented under the Startup India initiative: 

Startup India Seed Fund Scheme (SISFS): 

• The scheme aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.

Fund of Funds for Startups (FFS) Scheme:

• The scheme provides capital to SEBI-registered Alternative Investment Funds (AIFs), known as daughter funds, who in turn invest money in growing Indian startups through equity and equity-linked instruments. 
• It is operationalised by SIDBI.

Credit Guarantee Scheme for Startups (CGSS):

• It credit guarantees to loans extended to DPIIT-recognized startups by Scheduled Commercial Banks, Non-Banking Financial Companies (NBFCs) and Venture Debt Funds (VDFs) under SEBI registered Alternative Investment Funds.

2. Battery swapping policy for EVs

Syllabus: GS-3, Environment

Prelims: Battery swapping policy for EVs

What is the battery swapping policy?

• It involves exchanging discharged batteries of electric vehicles for charged ones.
• It is an alternative to charging the EVs.
• It is popular for 2 and 3 wheeler EVs with smaller batteries.
• Considering its potential advantages in proliferating Electric Vehicles in the country, NITI Aayog held an inter-ministerial discussion in February 2022 to formulate a draft policy framework for 2 and 3-wheeler centric Battery Swapping.
• Battery Swapping is already operational in India and more new swapping stations are coming up every year in the country.

3. National Green Hydrogen Mission

Syllabus: GS-3, Environment

Prelims: National Green Hydrogen Mission

Context:

National Green Hydrogen Mission expected to reduce the quantum of imported fossil fuels by ₹ 1 lakh crore by 2030 – Union Power Minister

Details:

• The mission, approved by Cabinet in 2023, intends to facilitate the production of hydrogen from renewable energy. 
• The mission ​​is expected to lead to the development of 5 million metric tonnes (MMT) Green Hydrogen production capacity per annum by 2030. 
• Green Hydrogen has the potential to replace fossil fuels including natural gas, either as a source of energy or as a feedstock, thereby contributing to the reduction in dependence on the import of fossil fuels.
• The Mission envisions the replacement of Grey Hydrogen with Green Hydrogen in industries such as fertilizer production, petroleum refining, steel, shipping, etc., thus reducing carbon footprint and dependence on imported fossil fuels.
• The quantum of such reduction in imports is estimated at ₹ 1 lakh crore by 2030.
• Strategies to achieve the above:
  • Demand generation through domestic usage
  • Strategic Interventions for Green Hydrogen Transition (SIGHT) programme (incentives for manufacturing of electrolysers, etc)
  • Pilot Projects for green steel, mobility, shipping, decentralized energy applications, hydrogen production from biomass, hydrogen storage, etc
  • Developing green hydrogen hubs
  • R&D programmes
• Desalinized sea water for green hydrogen production
  • For 1 kg of green hydrogen, around 10 litres of demineralized water are needed.
  • According to the industry, most of the production plants are expected to come up near port locations.
  • In such cases, desalinized seawater could also be used for Green Hydrogen production.

Read more about the National Green Hydrogen Mission in the link.

Read the previous PIB articles here.