03 Feb 2021: PIB Summary & Analysis

February 03rd, 2021, PIB:- Download PDF Here

TABLE OF CONTENTS

1. Lithium Deposits in Karnataka
2. Orobanche in Mustard
3. Trade Deficit Between India and China
4. Threshold for paid up capital and turnover for Small Companies
5. Cyber Challenge 2020-21
6. Gobardhan Scheme
7. National Rail Plan

1. Lithium Deposits in Karnataka

Context:

Preliminary survey shows deposits of Lithium in Mandya district of Karnataka.

Details:

• Preliminary surveys on surface and limited subsurface by Atomic Minerals Directorate for Exploration and Research (AMD) have shown presence of Lithium resources of 1,600 tonnes (inferred category) in the pegmatites of Marlagalla – Allapatna area, Mandya district, Karnataka.
• The significance of these deposits may be established only after the completion of exploration in the entire area.
• Subsequently, plan for commercial exploitation of the lithium deposits can commence after the technical, social and economic feasibility studies in the area.

Importance of Lithium Deposits:

• Lithium is a key element for new technologies and finds its use in ceramics, glass, telecommunication and aerospace industries.
• The well-known uses of Lithium are in Lithium ion batteries, lubricating grease, high energy additive to rocket propellants, optical modulators for mobile phones and as convertor to tritium used as a raw material for thermonuclear reactions i.e. fusion.
• The thermonuclear application makes Lithium as “Prescribed substance” under the Atomic Energy Act, 1962 which permits AMD for exploration of Lithium in various geological domains of the country.
• Due to the continuously increasing demand of Lithium ion batteries, the requirement of Lithium has increased over the last few years.

What is “Prescribed substance” under the Atomic Energy Act, 1962?

• According to the Act, “Prescribed Substance” means any substance including any mineral which the Central Government may, by notification, prescribe, being a substance which in its opinion is or may be used for the production or use of atomic energy or research into matters connected therewith and includes uranium, plutonium, thorium, beryllium, deuterium or any of their respective derivatives or  compounds or any other materials containing any of the aforesaid substances.

Atomic Minerals Directorate for Exploration and Research (AMD):

• The chief mandate of the AMD is to identify and evaluate uranium resources required for the successful implementation of the Atomic Energy programme of the country.
• It is headquartered in Hyderabad and has regional offices in a few other cities.
• It is under the Department of Atomic Energy (DAE), GOI.
• AMD carries out geological exploration and discovery of mineral deposits required for the nuclear power programme.
• It was established in 1948 and is the oldest unit of the DAE.
• It was originally called Rare Minerals Survey Unit and then renamed twice before being named its current one in 1998.
  • Previously, it was also called ‘Raw Materials Division’ and ‘Atomic Minerals Division’.
• AMD has been instrumental in locating Uranium resources in Singhbhum Shear Zone, Jharkhand; KPM (Domiasiat), Wahkut, Wahkyn, Meghalaya; Lambapur – Chitrial, Peddagattu, Telangana; Tummalapalle, Andhra Pradesh; Gogi, Karnataka and Rohil, Rajasthan.
• AMD also has established vast resources of thorium in the coastal tracts of Kerala, Tamil Nadu, Andhra Pradesh and Odisha.
• It has also extended its contribution towards the recovery of Rare Metals and Rare Earths elements.

2. Orobanche in Mustard

Context:

Workshop held on ‘techno-management options to control Orobanche in mustard’.

What is Orobanche?

• Orobanche is a serious hidden parasitic weed in mustard causing severe yield loss to the extent of up to 50%.
• There are no absolute control measures developed for it.
• Also called broomrapes, they are aggressive root parasitic weeds which attack strategic food crops, such as legumes and vegetables, and threaten the livelihood of many nations.
• Heavy Orobanche infestation does not only lead to a complete crop failure, but make field soils Orobanche-sick over a long period of time, preventing the reasonable production of legumes and vegetables in the infested fields for many years to come.

3. Trade Deficit Between India and China

Context:

The Minister of State of the Ministry of Commerce and Industry gave this information in the Lok Sabha.

Details:

The details of export/import and trade deficit between India and China during the last three financial years and current financial year are given below: –

4. Threshold for paid up capital and turnover for Small Companies

Context:

The Ministry of Corporate Affairs (MCA) revises threshold for paid up capital and turnover for Small Companies.

Details:

• The threshold for the paid up capital has been revised from “not exceeding Rs 50 lakh” to “not exceeding Rs 2 crore” & turnover from “not exceeding Rs 2 crore” to “not exceeding Rs 20 crore”, for defining a ‘small company’.
• Benefits of this revision:
  • No need to prepare cash flow statement as part of financial statement.
  • Where other companies require providing details of remuneration to directors and key managerial personnel, small companies are required to provide details of only the aggregate amount of remuneration drawn by directors in its Annual Return.
  • Mandatory rotation of auditor not required.
  • An Auditor of small companies is not required to report on the adequacy of the internal financial controls and its operating effectiveness in the auditor’s report.
  • Hold only two board meetings in a year.
  • Annual Return of the company can be signed by the Company Secretary, or where there is no company secretary, by a single director of the company.
  • Lesser penalties for Small Companies.
  • Lesser filing fees for Small Companies.

Significance:

• Small companies are the backbone of our corporate world.
• They represent the Entrepreneurial aspirations & Innovation capabilities of lakhs of citizens.
• They contribute to employment and GDP in a very substantial manner.
• The idea is to create a more conducive business environment for such law abiding companies, including reduction of compliance burden on such companies.

Note:-

The MCA has also amended rules for One Person Companies (OPCs).

• Previously NRIs were not allowed to incorporate OPCs. Now any natural person, who is an Indian citizen, whether resident in India or otherwise would be allowed to form an OPC.
• For being considered as a resident in India, the residency period has been proposed to be reduced to 120 days from 182 days for NRIs.
• Other changes to the Companies (Incorporation) Rules will allow OPCs to grow without any restrictions on paid up capital and turnover and also allow their conversion into any other type of company at any time.

5. Cyber Challenge 2020-21

Context:

2^nd CCTNS Hackathon and Cyber Challenge 2020-21 of National Crime Records Bureau (NCRB) Inaugurated.

Details:

• The objective of the 2^nd CCTNS Hackathon and Cyber Challenge 2020-21 is to enhance analysis and deepen understanding of police personnel.
• This hackathon is in continuation to the Hackathon & Cyber Challenge which concluded in March 2020.
• Police officials especially those from the cutting edge level, academia, industry, students and others are being invited to participate in the event to help improve existing IT applications as well as help identify new IT applications to improve the CCTNS

New Mobile App Launched:

• A new App named ‘Locate Nearest Police Station’ was also launched.
• This App will help various users including women commuters, interstate travelers, domestic and foreign tourists, etc. especially during any emergency and has the facility to dial 112.
• This can be downloaded from the master police portal, namely, digitalpolice.gov.in of the Ministry of Home Affairs (MHA).

6. Gobardhan Scheme

Context:

Union Ministers jointly launch Unified Portal of Gobardhan to promote Gobardhan scheme and track real time progress.

About Gobardhan Scheme:

• The Gobardhan Scheme (Galvanizing Organic Bio-Agro Resources – DHAN) was launched by the Ministry of Jal Shakti.
• It is being implemented as part of the Swachch Bharat Mission (Gramin).
• The scheme is aimed at managing cattle and biodegradable waste and also help augment farmers’ incomes.
• The GOBAR-DHAN scheme, with its focus on keeping villages clean, increasing the income of rural households, and generation of energy from cattle waste, is an important element of the ODF-plus strategy of the Swachch Bharat Mission.
• The scheme aims to support villages in effectively managing their cattle and biodegradable waste.
• The Gobardhan scheme was launched in early 2018 to manage the prevailing issues of bio-waste in villages including cattle waste and converting them into biogas and organic manure to improve the lives of villagers by providing economic and resource benefits to farmers and households.
• The newly launched portal will ensure close coordination with stakeholder Departments/Ministries for smooth implementation of Biogas schemes/initiatives and its real time tracking.

7. National Rail Plan

Context:

The Government has issued the Draft Final Report of the National Rail Plan.

Highlights of the National Rail Plan (NRP):

• National Rail Plan aims at providing a long term perspective planning for augmenting the Railway Network.
• The vision of the NRP is to develop capacity, infrastructure and enhance rail freight share ahead of the demand and to develop capacity by 2030 that will cater to the growing demand up to 2050.
• The National Rail Plan for India 2030 will create a future-ready railways system and bring down the logistic cost for industry to enable Make in India.
• The finance minister during the Budget 2021-22 detailed that a record ₹1,10,055 crore has been provided to the Railways, of which ₹1,07,100 crore has been allocated for capital expenditure.
• Moreover, the Railways is also set to monetise dedicated freight corridors.
  • Western & Eastern dedicated freight corridors will also be commissioned.
  • The Somnagar Gomu section of Eastern Dedicated Corridor will also be taken up this year.
• High Density network & highly utilised network routes of Railways will be provided with train protection system to eliminate train collision incidents due to human error.
• Railways would also introduce the aesthetically-designed vistadome LHB coaches on tourist routes for better travel experience to passengers.

Read previous PIB here.

February 03rd, 2021, PIB:- Download PDF Here