08 July 2021: PIB Summary & Analysis

TABLE OF CONTENTS

1. MoC between CCI, India and Japan Fair Trade Commission (JFTC)
2. Agriculture Infrastructure Fund
3. Madurai Malli

1. MoC between CCI, India and Japan Fair Trade Commission (JFTC)

Context:

Cabinet approves Memorandum on Cooperation (MoC) between Competition Commission of India (CCI) and Japan Fair Trade Commission (JFTC).

Details:

• The MoC is expected to promote and strengthen cooperation in the matter of Competition Law and Policy between the two countries.
• It will enable CCI to emulate and learn from the experiences and lessons of its counterpart competition agency in Japan which would enhance efficiency.
• It is also expected to help improve enforcement of the Competition Act, 2002 by CCI.

2. Agriculture Infrastructure Fund

Context:

Cabinet approves modifications in Central Sector Scheme of financing facility under ‘Agriculture Infrastructure Fund’ (AIF).

Changes approved in the AIF scheme:

• Eligibility has now been extended to State Agencies/APMCs, National & State Federations of Cooperatives, Federations of Farmers Producers Organizations (FPOs) and Federations of Self Help Groups (SHGs).
• At present, interest subvention for a loan up to Rs. 2 crore in one location is eligible under the scheme.
  • In case, an eligible entity other than a private sector entity (i.e., state agencies, national and state federations of cooperatives, federations of FPOs and federation of SHGs) puts up projects in different locations then all such projects will now be eligible for interest subvention for loan up to Rs. 2 crore.
  • However, for a private sector entity there will be a limit of a maximum of 25 such projects.
• For APMCs, interest subvention for a loan up to Rs. 2 crore will be provided for each project of different infrastructure types e.g. cold storage, sorting, grading and assaying units, silos, etc. within the same market yard.
• The Union Agriculture Minister has been given the authority to make necessary changes with regard to the addition or deletion of beneficiary in such a manner that the basic spirit of the scheme is not altered.
• Another important change approved is that the scheme has been extended from 10 to 13 years, i.e., till 2032-33.

Read more about the Agriculture Infrastructure Fund in the link.

3. Madurai Malli

Context:

GI certified Madurai Malli and other flowers exported to USA & Dubai from Tamil Nadu.

Details:

• The Madurai Malli or Jasmine plays a key role in Tamil Nadu culture and economy.
• The sacred flower has a link to Madurai dating back to 300 BCE.
• Flowers hold a special place in Indian culture as they are intrinsic to many rituals and customs.
• Madurai Malli is famed for its fragrance and it has a huge demand among the Indian diaspora in Malaysia, Singapore, Dubai and also Western Europe, especially France.
• To meet this demand, jasmine is cultivated across 1200 hectares of land in Madurai district alone.
• Moist, well-drained, sandy loam soil in Madurai is ideal for jasmine cultivation.
• Madurai jasmine is widely used in weaving garlands and its extract is used in making perfumes, soaps and lotions.
• It is also used as a flavouring agent for rice known as malli rice.
  • About 1 ton of the flower is required to extract 1 kg of jasmine concentrate which sells at around Rs 1 lakh.
• Why the Madurai Malli has a strong fragrance?
  • Unlike the other places, the jasmine plucked from the farms in Madurai bears a thick fragrance and bulky petals.
  • The flower’s colour and fragrance stays intact for two days because of the thick petal (delayed flowering period).
  • Owing to the region’s topography, alkaloids like jamone and alpha-terpineol accumulate in the flowers giving it a heady scent.

Also read: List of Geographical Indications [GI Tags] in India

Read previous PIB here.

July 8th, 2021, PIB:- Download PDF Here