12 Sep 2022: PIB Summary for UPSC

TABLE OF CONTENTS

1. International Dairy Federation World Dairy Summit (IDF WDS) 2022, India
2. IFSCA FinTech Incentive Scheme 2022
3. National Metallurgist Award

1. International Dairy Federation World Dairy Summit (IDF WDS) 2022, India

Syllabus – GS 3, Economy, Economics of animal-rearing – Dairy

Prelims – Four-day long IDF WDS, 2022

Context – Inauguration of IDF WDS, 2022 by the Prime Minister Shri Narendra Modi.

About IDF WDS:

• The IDF World Dairy Summit is an annual meeting of the global dairy sector, bringing together approximately 1500 participants from all over the world.
  • The participant profile includes CEOs and employees of dairy processing companies, dairy farmers, suppliers to the dairy industry, academicians, government representatives, etc.
  • The summit is composed of a series of scientific and technical conferences and social events.
• The IDF World Dairy Summit will provide a forum for industry experts to share knowledge and ideas on how the sector can contribute to nourishing the world with safe and sustainable dairying.
  • Participants will get an opportunity to acquire knowledge of the latest research findings and experiences relevant to the global dairy sector in the broadest sense.
• The summit is centred around the theme “Dairy for Nutrition & Livelihood”.
• The last such summit was held in India in 1974.

Details:

• IDF WDS is being organised in Greater Noida.
• The dairy sector is a major source of livelihood for crores of people across the world and gives a boost to the rural economy.
• The GoI has taken effective steps for the development of the dairy sector which has resulted in an increase in milk production by more than 44% in the last eight years.
• The government is working to develop a blanched dairy ecosystem to address the challenges faced by the sector and also to increase production.  
• Schemes like Rashtriya Gokul Mission, Gobardhan Yojana, digitisation of the dairy sector and universal vaccination are undertaken by the government to promote green and sustainable growth in villages.
• The GoI has resolved that by 2025, 100% of animals will be vaccinated against Foot & Mouth disease and Brucellosis. Indigenous vaccines have been developed to keep a check on lumpy skin disease.
• Biometric identification of animals called Pashu-Adhar is being done.
• India’s dairy sector is characterised by production by masses more than mass production. This sector is the source of livelihood for around 8 cr families in the country.

2. IFSCA FinTech Incentive Scheme 2022

Syllabus – GS-2; Governance; Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Prelims – FinTech Incentive Scheme, 2022.

Context – Launch of IFSCA FinTech Incentive Scheme.

Details:

• The International Financial Services Centres Authority (IFSCA) launched IFSCA-FinTech Incentive Scheme to provide financial assistance to FinTech activities in the form of specific grants.
• The main aim of the scheme is to establish a world-class FinTech hub.
• This scheme shall be open to Domestic FinTechs seeking access to overseas markets; Domestic FinTechs seeking a listing on IFSCA recognised stock exchanges; Foreign FinTechs seeking market access to IFSCs in India and work within the Authority’s regulatory framework; Foreign FinTechs seeking access to the domestic market under Inter-Operable Regulatory Sandbox (IORS) framework; Domestic FinTechs extending business to the IFSCs either by way of authorisation or registration or through the regulatory sandbox.

About IFSCA:

• IFSCA was established on April 27, 2020, under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat.
• The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India.

3. National Metallurgist Award

Syllabus – GS-3; Science and Technology; Achievements of Indians in science & technology

Prelims – National Metallurgist Awards, 2022.

Context – Approval by the Ministry of Steel for the National Metallurgist Awards.

Details –

• The National Metallurgist Awards, 2022 has been approved by the Ministry of Steel, to recognise the contributions of metallurgists in the Iron & Steel sector.
• Nominations for the award shall be invited online through the NMA portal.
• The awards ceremony is held every year on 3 February. On 3rd February 1959, Dr Rajendra Prasad commissioned the first blast furnace in the country, at Rourkela. 
• The National Metallurgist Awards have been instituted to recognise the contribution of metallurgists in the metallurgical field under the following categories:-
  • Lifetime Achievement Award
  • National Metallurgist Award
  • Young Metallurgist (Metal Science)
  • Young Metallurgist (Environmental Science)
  • Award for R&D in Iron and Steel Sector

Background of the awards –

The National Metallurgy Day Awards was instituted in 1962 by GoI’s Ministry of Steel & Mines in order to encourage metallurgy in India. The awards are presented annually. As per the direction from MHA, it is proposed to change the name of the awards, to make it more stringent so as to enhance its stature.

Read previous PIB here.

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