TABLE OF CONTENTS
1. Amendments to insolvency and bankruptcy board of India regulations 2. Post service engagement of agniveers 3. Prithvi-II 4. Six lane highway made from steel slag
1. Amendments to insolvency and bankruptcy board of India regulations
Syllabus: GS III, Economy, issues relating to planning, mobilization of resources, growth, development and employment.
Prelims: Bankruptcy Board and amendments related to it.
Context:
Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016; Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017 and the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017
Insolvency and Bankruptcy Code of India
- The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.
- As of September 2021, a total of 4,708 corporate insolvency resolution processes were initiated under the Insolvency Code.
- A total of 421 cases were resolved and a little over 1000 went for liquidation.
Insolvency and Bankruptcy Board of India
- It was established under the Insolvency and Bankruptcy Code, 2016.
- It is a unique regulator: regulates a profession as well as processes.
- It is a key pillar of the ecosystem responsible for the implementation of the Code that consolidates and amends the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner.
Read more on the Insolvency and Bankruptcy Board of India in the link.
2. Post service engagement of agniveers
Syllabus: GS II and GS III, Welfare schemes and employment.
Prelims: Current affairs and government schemes
Context:
In the context of the announcement of the ‘Agnipath Scheme’ by Prime Minister Shri Narendra Modi, the Union Home Ministry has decided to give priority to ‘Agniveers’ who have completed four years under this scheme for recruitment into CAPFs and the Assam Rifles.
Agnipath Scheme:
- All recruitment in the army, navy and IAF (except officers) to be under the “Agnipath” scheme.
- Selected candidates will be enrolled as ‘agniveers’ for a period of 4 years.
- Four-year tenure will include 6 months of training.
- Based on the organizational requirement,upto 25% of agniveers will be selected to be enrolled in the armed forces in the regular cadre.
Advantages of the scheme
- To reduce the average age in the armed forces.
- Reduce revenue expenditure on salary and pension.
- To induce the armed forces ethos in youth resulting in national integration and nation-building.
- To attract young talent.
Disadvantages of the scheme
- No pilot project to test the project.
- Six months of training is not enough for a combat-ready soldier.
- Lead to the militarisation of civil society.
- It might hit the ethos of the armed forces due to its temporary nature of work.
3. Prithvi-II
Syllabus: GS III, Achievements of Indians in science and technology
Prelims: Science and technology
Context:
A successful training launch of a Short-Range Ballistic Missile, Prithvi-II was carried out in June 2022 at approximately 1930 hrs from the Integrated Test Range, Chandipur, Odisha. The missile is a proven system and is capable of striking targets with a very high degree of precision.
Prithvi II
- It is a short-range ballistic missile.
- It is a two-stage surface-to-surface missile.
- The missile can carry a 1,000 kg warhead to a distance of 350 km.
- It has been developed by the DRDO under the Integrated Guided Missile Development Programme (IGMDP).
4. Six lane highway made from steel slag
Syllabus: GS III, conservation.
Prelims: Current affairs and science and technology
Context:
Union Minister of Steel inaugurated the first six-lane highway road made by using Steel Slag at Surat, Gujrat to connect the port with the city.
Advantages of steel slag in road construction:
- It promotes circular economy and resource efficiency
- Converting waste into wealth leads to the saving of resources
- It increases the durability of roads.
- It also reduces cost.
Read previous PIB here.
June 15th, 2022, PIB:- Download PDF Here
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