19 June 2024 PIB
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TABLE OF CONTENTS
1. National Forensic Infrastructure Enhancement Scheme (NFIES) 2. VGF Scheme for Offshore Wind Energy Projects 3. MSP for Kharif Crops for Marketing Season 2024-25 4. India’s Seafood Exports 5. India Post Payments Bank 6. MoU between CERT-In and Mastercard India 7. 9 Major Ports of India make it to the Global Top 100 by the World Bank
1.National Forensic Infrastructure Enhancement Scheme (NFIES)
Syllabus: GS-2, Governance; GS-3, Security
Prelims: National Forensic Infrastructure Enhancement Scheme (NFIES)
Context:
The Union Cabinet approved a Central Sector Scheme, the “National Forensic Infrastructure Enhancement Scheme” (NFlES).
About National Forensic Infrastructure Enhancement Scheme (NFIES):
- The scheme envisages the expansion of the Central Forensic Sciences Laboratory (CFSL) network and the setting up of more National Forensic Sciences University (NFSU) campuses.
- The scheme also envisages the enhancement of infrastructure at the Delhi campus of NFSU.
- It has a total financial outlay of Rs. 2254.43 crore for the period from 2024-25 to 2028-29.
Significance:
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- The approval has come in light of the impending enactment of the new criminal laws, which mandate forensic investigation for offences involving punishment of seven years or more.
- The laws are expected to significantly increase the workload of the forensic science laboratories (FSLs) across India, which are already reeling with pendencies.
- The scheme is expected to address the shortage of trained forensic manpower, alleviate the caseload/pendency of forensic laboratories, and align with the Government of India’s goal of securing a high conviction rate of more than 90%.
2.VGF Scheme for Offshore Wind Energy Projects
Syllabus: GS-3, Environment
Prelims/Mains: Viability Gap Funding Scheme, Offshore Wind Energy
Context:
The Union Cabinet approved the Viability Gap Funding (VGF) scheme for offshore wind energy projects at a total outlay of Rs.7453 crore.
Details:
- The VGF scheme is a major step towards the implementation of the National Offshore Wind Energy Policy notified in 2015 to exploit the vast offshore wind energy potential that exists within the exclusive economic zone of India.
- The VGF support from the government will reduce the cost of power from offshore wind projects and make them viable for purchase by DISCOMs.
- While the projects will be established by private developers selected through a transparent bidding process, the power excavation infrastructure, including the offshore substations, will be constructed by Power Grid Corporation of India Ltd (PGCIL).
- The Ministry of New and Renewable Energy is the nodal ministry for the scheme’s implementation.
Port Infrastructure:
- Under the scheme, two ports in the country will be supported by the Ministry of Ports, Shipping and Waterways to meet the requirements of offshore wind development.
Significance:
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- Offshore wind is a source of renewable energy which offers several advantages over onshore wind and solar projects, such as higher adequacy & reliability, lower storage requirement and higher employment potential.
- The development of the offshore wind sector will lead to economy-wide benefits by attracting investments, development of indigenous manufacturing capabilities, creation of employment opportunities across the value chain and technology development for offshore wind in the country.
- This will contribute to the country’s achievement of the energy transition targets.
- The successful commissioning of 1 GW offshore wind projects will produce renewable electricity of about 3.72 billion units annually, which will result in an annual reduction of 2.98 million tons of CO2 equivalent emission for 25 years.
3.MSP for Kharif Crops for Marketing Season 2024-25
Syllabus: GS-3, Economy
Prelims: MSP, Kharif Crops
Mains: MSP
Context:
The Union Cabinet approved the increase in the Minimum Support Prices (MSP) for all mandated Kharif Crops for Marketing Season 2024-25.
Details:
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- The government has increased the MSP of Kharif Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce.
- The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses viz. nigerseed (Rs.983/- per quintal) followed by sesamum (Rs.632/- per quintal) and tur/arhar (Rs.550/- per quintal).
- The increase in MSP for Kharif Crops for Marketing Season 2024-25 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times the All-India weighted average cost of production
- In recent years, the government has been promoting the cultivation of crops other than cereals such as pulses, oilseeds and nutri-cereals/Shree Anna, by offering a higher MSP for these crops.
4.India’s Seafood Exports
Syllabus: GS-3, Economy
Mains: India’s seafood exports
Context:
India’s seafood exports touched an all-time high by volume in FY 2023-24.
Details:
- India shipped 17,81,602 MT of seafood worth ₹60,523.89 crores (US$7.38 billion) during 2023-24 which is an all-time high.
- Frozen shrimp remained the major export item in quantity and value.
- The USA and China became the major importers of India’s seafood.
- During FY 2023-24, the export improved in quantity terms by 2.67%.
- Frozen shrimp accounted for a share of 40.19% in quantity and 66.12% of the total dollar earnings.
- The largest market for frozen shrimp was the USA, followed by China, the EU, Southeast Asia, Japan and the Middle East.
- The second-largest export item was frozen fish, followed by fish and shrimp – meal & feed – non-edible dried items.
- Other items exported included frozen squid, Surimi and Surimi Analogs, frozen cuttlefish, frozen octopus, fish oil, live items, dried items, frozen lobster and fish maws.
- The largest destinations in order are the USA, China (excluding Hong Kong and Taiwan), Japan, Vietnam, Thailand, Canada, Spain and Belgium.
5.India Post Payments Bank
Syllabus: GS-3, Economy
Prelims: India Post Payments Bank
Context:
India Post Payments Bank joined forces with Ria Money Transfer to offer unique remittance services across Rural India.
Details:
- This collaboration will provide customers in remote areas across India with convenient and affordable doorstep financial services.
- Ria Money Transfer, a business segment of Euronet, delivers innovative financial services including fast, secure, and affordable global money transfers.
Significance:
- Sixty-five per cent of India’s population lives in rural areas with limited financial infrastructure.
- These families need to travel long distances to withdraw their international inward remittance money, leading to loss of wage, and incurring travel expenses & they also get exposed to risk associated with cash in transit or storage at home as they have to withdraw the entire amount altogether.
- The IPPB & Ria’s partnership will increase people’s access to banking services at their doorstep & help them withdraw only to the extent they need immediately, ensuring they get saved from the earlier hassles and risks, thereby experiencing financial inclusion in the true sense, leading to their long-term economic growth.
Features of the partnership:
- Through this partnership, the International Inward Money Transfer service will become available at more than 25,000 Post Office locations immediately with an expected reach of over 100,000 locations through the Post Offices.
Read more about the India Post Payments Bank in the linked article.
6.MoU between CERT-In and Mastercard India
Syllabus: GS-3, IT, Cybersecurity
Prelims: CERT-In
Mains: Cybersecurity
Context:
CERT-In and Mastercard India signed an MoU for collaboration in cyber security to enhance India’s cyber-resilience in the financial sector.
Details:
- Under the agreement, Cert-In and Mastercard India will leverage their shared expertise in the financial sector in cybersecurity incident response, capacity building, sharing cyber threat intelligence specific to the financial sector and advanced malware analysis.
- Mastercard and CERT-In will hold training programs and workshops for cyber capacity building, the latest market trends and best practices to enhance the cybersecurity of financial sector organisations.
- The two entities will also share relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports to strengthen the financial sector information security of India.
7.9 Major Ports of India make it to the Global Top 100 by the World Bank
Syllabus: GS-3, Infrastructure
Prelims/Mains: Ports in India
Context:
In a significant boost to India’s port development programme, nine ports of India made it to the Global Top 100 in the latest edition of the Container Port Performance Index (CPPI) 2023. Details:
- The Container Port Performance Index is a prestigious report prepared by the World Bank and S&P Global Marketing Intelligence.
- Among the top performers, Vishakhapatnam Port stands out with impressive metrics, including 27.5 moves per crane hour, a turnaround time (TRT) of 21.4 hours, and minimal berth idle time.
- Other Indian ports that ranked in the top 100 include Pipavav (41), Kamarajar (47), Cochin (63), Hazira (68), Krishnapatnam (71), Chennai (80), and Jawaharlal Nehru (96).
Container Port Performance Index (CPPI):
- The CPPI is a comparable assessment of performance based on vessel time in port.
- The data used to compile the CPPI is from S&P Global’s Port Performance Program.
- The program was started in 2009 to support efficiency improvements in container port operations and to support projects to optimise container port calls.
- The program includes 10 of the world’s largest liner shipping companies that operate close to 80 percent of global fleet capacity.
- In 2023, performance time stamp data were captured for 194,198 port calls involving 253.7 million container moves at 876 container terminals in 508 ports worldwide.
Read previous PIB articles here.
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