UPSC: PIB Summary and Analysis Jan 13

Rashtriya Sanskriti Mahotsav

  • To celebrate the idea of unity in diversity, the Ministry of Culture is organising the 7th edition of the Rashtriya Sanskriti Mahotsav under the Ek Bharat Shreshtha Bharat matrix in Karnataka
  • The Mahotsav will cover a profusion of art forms from classical and folk, music and dance, theatre to literature and the visual arts and would offer the chance to experience the best in established and emerging virtuosity.
  • A handloom and handicrafts-utsav is part of the proposed event.
  • The gastronomic culture of several partnering states will be showcased through a food festival.

 

 

National Commodity and Derivatives Exchange Limited (NCDEX)

  • In an effort to make the agri-economy more efficient and bring huge amount of value for the farmers of India, the National Commodity and Derivatives Exchange Limited (NCDEX), is launching the country’s First agri-commodity Options in Guar Seed.
  • Guar seed options is an important hedging tool.
  • The instrument, which is uniquely designed by NCDEX and approved by the Securities and Exchange Board of India (SEBI), is expected to deepen trade in that commodity and will benefit farmers in reaping improved price realizations for their produce, with limited downside risk.
  • The Official Launch will also see farmers share their experiences on how NCDEX has helped better their lives.
  • This launch is largely inspired by the fact that guar seed is one of the most liquid contracts on the NCDEX platform and a large number of informal trading centres in some communities of Rajasthan are already involved in some form of informal options trading.

Details

  • In order to promote awareness around this new agriculture hedging tool, the Exchange has initiated a series of awareness programs and trainings across the value chain.
  • The Exchange will also launch a mobile application on this occasion where farmers can learn more about agri options and the commodities market.

 

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