10 Jan 2024: PIB Summary for UPSC

TABLE OF CONTENTS

1. National Coal Price Index
2. Startup India Innovation Week

1. National Coal Price Index

Syllabus: GS-3, Economy

Prelims: National Coal Index

Context:

National Coal Price Index Declines by 17.54% in November 2023.

What is the National Coal Index?

• The NCI is a price index which reflects the change in the price level of coal on a particular month relative to the fixed base year.
• The base year for the NCI is FY 2017-18.
• Prices of coal from all the sales channels of coal, including import, as existing today are taken into account for compiling the NCI.
• The amount of revenue share per tonne of coal produced from auctioned blocks would be arrived at using the NCI by means of a defined formula.
• NCI was rolled out in June 2020 and the same is placed on the website of the Ministry of Coal.
• NCI is composed of a set of five sub-indices: three for Non-Coking Coal and two for Coking Coal.
  • The three sub-indices for Non Coking Coal are combined to arrive at the Index for Non Coking Coal and the two sub-indices for Coking Coal are combined to arrive at the Index for Coking Coal.
  • Thus, indices are separate for Non-coking and Coking Coal.
• As per the grade of coal pertaining to a mine, the appropriate sub-index is used to arrive at the revenue share.

2. Startup India Innovation Week

Syllabus: GS-3, Economy

Prelims: Startup India Innovation Week 2024, DPIIT

Context:

DPIIT organises Startup India Innovation Week 2024 from 10th to 18th January 2024.

Details:

• DPIIT is organising the Startup India Innovation Week 2024 from 10th January 2024 to 18th January 2024 to celebrate the Indian Startup Ecosystem and the National Startup Day (16th January 2024).
• The event will bring together startups, entrepreneurs, investors, policymakers, and other stakeholders.
• On National Startup Day, DPIIT is organising the result declaration and felicitation ceremony for the National Startup Awards 2023 and the 4th edition of the States’ Startup Ranking Framework, two of the flagship initiatives under Startup India. 
• The National Startup Awards is an initiative to recognize and reward outstanding startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential for employment generation or wealth creation, demonstrating measurable social impact.

States’ Startup Ranking:

• It is a periodic capacity-building exercise developed and released by DPIIT that evaluates States and UTs on their efforts to build an ecosystem conducive to the growth of startups. 
• The major objectives of the ranking exercise are facilitating States and UTs to identify, learn and replace good practices, highlighting the policy intervention by States and UTs for promoting the startup ecosystem and fostering competitiveness among states.

Also read: India – UK relations

Read previous PIB articles here.