01 Jan 2021: PIB Summary & Analysis

January 1st, 2021, PIB:- Download PDF Here

TABLE OF CONTENTS

1. Defense Research and Development Organisation (DRDO)
2. Remission of Duties and Taxes on Exported Products (RoDTEP)
3. IFSCA becomes member of IOSCO
4. Atmospheric and Climate Research-Modelling Observing Systems and Services (ACROSS)

1. Defense Research and Development Organisation (DRDO)

Context:

DRDO celebrates Foundation Day.

Know more about DRDO in the linked article.

2. Remission of Duties and Taxes on Exported Products (RoDTEP)

Context:

Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme implemented.

Know more about the RoDTEP scheme in PIB dated 13 March, 2020.

3. IFSCA becomes member of IOSCO

Context:

The International Financial Services Centres Authority (IFSCA) has become an Associate Member of the International Organization of Securities Commissions (IOSCO).

About IOSCO:

• The IOSCO is the international organization that brings together the world’s securities regulators, covering more than 95% of the world’s securities markets.
• It is also the global standard-setter for the securities sector.
• IOSCO works closely with the G20 and the Financial Stability Board (FSB) in setting up the standards for strengthening the securities markets.
• The IOSCO Objectives and Principles of Securities Regulation have been endorsed by FSB as one of the key standards for sound financial systems.

How would IOSCO membership benefit IFSCA?

• The membership of IOSCO would provide IFSCA with the platform to exchange information at the global and regional levels on areas of common interests.
• Further, the IOSCO platform would enable IFSCA to learn from the experiences and best practices of the regulators of other well established financial centres.
• It is a significant milestone in connecting IFSCA with the regulators of securities markets globally and would contribute immensely towards the development and regulation of the financial products, financial services and financial institutions at the Gujarat International Finance Tec-City International Financial Services Centre.

Know more about the IFSCA in PIB dated Oct 19, 2020.

4. Atmospheric and Climate Research-Modelling Observing Systems and Services (ACROSS)

• ACROSS scheme pertains to the atmospheric science programs of the Ministry of Earth Sciences (MoES).
• It addresses different aspects of weather and climate services, which includes warnings for cyclone, storm surges, heatwaves, thunderstorms, etc.
• The ACROSS scheme consists of nine sub-programmes which are multi-disciplinary and multi-institutional in nature and will be implemented in an integrated manner.
• As the objective of the ACROSS scheme is to provide reliable weather and climate forecast for the betterment of society, the scheme aims at improving the skill of weather and climate forecast through sustained observations, intensive R & D.
• The scheme provides improved weather, climate and ocean forecast and services, thereby ensuring the transfer of commensurate benefits to the various services.

Read previous PIB here.

January 1st, 2021, PIB:- Download PDF Here