27 June 2020: PIB Summary & Analysis

June 27th, 2020 PIB:- Download PDF Here

TABLE OF CONTENTS

1. Locust swarm
2. Webinar by Department of Agriculture Cooperation & Farmers’ Welfare
3. National Productivity Council
4. Banking Regulation (Amendment) Ordinance, 2020

1. Locust swarm

What’s in News?

• Locust swarms from Jhunjhunu in Rajasthan have moved in three groups towards Gurugram and Palwal in Haryana and from there towards Uttar Pradesh.
• Control operations are underway in the states of Rajasthan, Haryana and Uttar Pradesh.

Read more about the issue covered in the 28^th May 2020 Comprehensive News Analysis.

2. Webinar by Department of Agriculture Cooperation & Farmers’ Welfare

What’s in News?

Department of Agriculture Cooperation & Farmers’ Welfare, Government of India hosted two webinars on Reforms in Indian Agriculture, Strategic Policy Shifts and Investment Opportunities.

Animal Husbandry:

• India has a livestock population of around 31% of the world’s livestock.

Steps taken by the Government to boost the animal husbandry sector:

• One billion doses of vaccine have been given in a year for Foot and Mouth Disease (FMD) which is a bigger drive than in any other country to ensure that cattle are disease-free.
• Animal tagging of five species through Pashu-Aadhar (Unique ID on a digital platform for mapping their parentage, breed and productivity) is being carried out.
• Cattle breeds are being improved through artificial insemination, IVF and surrogacy.
• Several incentives have been announced like Dairy Infra Development Fund in 2018 and Animal Husbandry Infra Development Fund.

Dairy Sector:

• The share of the organized sector in milk processing is targeted to be raised to 50% from the present 30-35%.
• The aim is to raise market demand in the dairy sector from 158 million mt tonnes presently to 290 million mt tonnes over the next five years.

Fisheries Sector:

• From 2014-15 to 2018-19, the fisheries sector has grown by 10.87%, fish production by 7.53%, fisheries exports have grown by 9.71% and India’s global share of fish production has grown to 7.73%.
• India is now the 2^nd largest aquaculture producer in the world and the 4^th largest seafood exporter.
• The USPs of the fisheries sector are its high growth rate, vast and diverse resources, low investment with high returns, low gestation period, strong technical backup, huge consumer base and export opportunities.

Note:

• The agriculture sector contributes to about 15% of the GDP and provides livelihood for more than 50% of the population.
• India is the fourth-largest producer of agrochemicals.

3. National Productivity Council

What’s in News?

The 49^th Governing Council Meeting of the National Productivity Council was held under the Chairmanship of the Minister of Commerce and Industry.

National Productivity Council:

• National Productivity Council (NPC) is an autonomous body under the Department for Promotion of Industry & Internal Trade (DPIIT).
• It is a mission-oriented apex organization to promote the cause of productivity in all sectors of the Indian economy.
• It is a tri-partite non-profit organization with equal representation from the government, employers and workers’ organizations, apart from technical and professional institutions including members from local productivity councils and chamber of commerce on its Governing Body.
• NPC is a constituent of the Tokyo-based Asian Productivity Organisation (APO), an Intergovernmental Body, of which the Government of India is a founder member.

Suggestions made in the meeting:

• Sector formulation of specific action plans by NPC, especially in agriculture and logistics sectors.
• Identification of champion sectors which have the potential to drive the economy.
• Adoption of technology to increase productivity and delivering cost-effective solutions for the marginalised sector.
• Interlinking of academia and industry for the creation of a highly skilled labor force.
• Financing of specific products to support MSMEs and increase their productivity.
• National audit on security impact, etc.

4. Banking Regulation (Amendment) Ordinance, 2020

What’s in News?

In pursuance of the commitment to ensure the safety of depositors across banks, the President has promulgated the Banking Regulation (Amendment) Ordinance, 2020.

• The Ordinance amends the Banking Regulation Act, 1949 as applicable to Cooperative Banks.
• The Ordinance seeks to protect the interests of depositors and strengthen cooperative banks by improving governance and oversight by extending powers already available with RBI in respect of other banks to Cooperative Banks as well.
• The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws.
• The amendments do not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development.
• The Ordinance also amends Section 45 of the Banking Regulation Act, to enable the making of a scheme of reconstruction or amalgamation of a banking company for protecting the interest of the public, depositors and the banking system and for securing its proper management, even without making an order of moratorium, so as to avoid disruption of the financial system.

This topic has been covered in the 25^th June 2020 Comprehensive News Analysis. Click here to read.

June 27th, 2020 PIB:- Download PDF Here

Read more PIB articles here.