09 Mar 2024: PIB Summary for UPSC

TABLE OF CONTENTS

1. Coal PSUs Surpass CAPEX Target for FY 2023-24
2. Sea Defenders-2024

1. Coal PSUs Surpass CAPEX Target for FY 2023-24

Syllabus: GS-3, Economy 

Prelims: CAPEX

Context: Coal Public Sector Undertakings (PSUs) under the Ministry of Coal (MoC) have consistently exceeded their capital expenditure (CAPEX) targets, showcasing their significant contribution to India’s economic transformation.

Exceeding CAPEX Targets

• In FY 2021-22, Coal PSUs achieved 104.86% of their CAPEX target, followed by 109.24% in FY 2022-23, demonstrating consistent year-on-year growth.
• For FY 2023-24, the MoC set a CAPEX target of Rs. 21,030 crore, which was surpassed by coal PSUs by February 2024, reaching Rs. 22,448.24 crore, equivalent to 106.74% of the annual target.

Record Achievements

• The achievement of the CAPEX target by coal PSUs signifies their proactive role in driving economic growth and infrastructure development.
• Investments made by coal PSUs contribute to boosting consumption, demand, and industrial growth, while also creating employment opportunities and fostering long-lasting infrastructure development.

Asset Monetization and GeM Procurement

• The MoC also achieved significant milestones in asset monetization, generating Rs. 55,148.33 crore by February 2024 against the target of Rs. 50,118 crore.
• Additionally, the MoC secured the first position in procurement through the Government e-Marketplace (GeM), achieving 415% of the target for the current fiscal year.

Significance

• Economic Growth Driver: The consistent overachievement of CAPEX targets by coal PSUs reflects their pivotal role as drivers of economic growth, contributing to the overall development of the nation.
• Multiplier Effect: CAPEX investments have a multiplier effect on the economy, stimulating consumption, demand, and industrial activity, thereby fostering sustainable growth and development.
• Employment Generation: Investments in infrastructure and expansion projects by coal PSUs create employment opportunities, thereby improving livelihoods and enhancing socio-economic well-being.

2. Sea Defenders-2024

Syllabus: GS-2, International relations

Prelims: ‘Sea Defenders-2024’

Context: The four-day maritime security exercise ‘Sea Defenders-2024’ between the Indian Coast Guard (ICG) and United States Coast Guard (USCG) concluded at Port Blair on March 9, 2024, aiming to enhance maritime cooperation and interoperability between the two forces.

Exercise Scenarios and Demonstrations

• Included a Pollution Response Demonstration showcasing expertise in responding to oil spills and environmental hazards.
• Simulated Visit Board Search and Seizure (VBSS) Operations for inspecting vessels suspected of illegal activity.
• Search & Rescue and Pollution Response demonstrations were conducted by ICG helicopter and Dornier aircraft.
• Practice to neutralize asymmetric threats like drone attacks on commercial merchant traffic.
• Training in firefighting and damage control skills through simulated scenarios.

Harbour Activities and Engagements

• United States Coast Guard Cutter Bertholf participated in engaging in harbour activities.
• Cross-visits allowed crew members to tour each other’s ships, gaining insights into capabilities and procedures.
• Friendly badminton competitions were organized to foster camaraderie among crews.

Significance

• Enhanced Maritime Cooperation: The exercise strengthens maritime cooperation and interoperability between the ICG and USCG, fostering greater coordination in addressing maritime security challenges.
• Skill Refinement and Training: Provides valuable training opportunities for both Coast Guards to refine their skills and improve their ability to work together effectively.
• Growing Partnership: The visit of USCGC Bertholf to Port Blair symbolizes the growing partnership between the US and Indian Coast Guard, highlighting their shared commitment to a safer maritime environment.

Read previous PIB articles here.