Retail Direct Gilt Accounts Scheme RBI

The Reserve Bank Of India (RBI) has announced a scheme that will allow retail investors to open retail direct gilt accounts (RDG) directly with the central bank.

Highlights:

In February 2021, the RBI Retail Direct facility was announced as part of ongoing efforts to increase retail participation in .

A “Gilt Account” is an account opened and maintained by an entity or a person for the purpose of holding Government securities.

Goal: To improve the ease of access for retail investors by providing online access to the G-secs market both primary and secondary as well as the ability to open a gilt securities account (Retail Direct’) with the Reserve Bank of

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India.

The account can be opened through a dedicated online portal that will provide registered users with access to the main issuance of government securities (G-secs) and NDS-OM.

Anniversary of Skill India Mission

PM Modi has addressed the nation on 15 July 2021, on World Youth Skills Day and it’s the sixth anniversary of the Skill India Mission.

About Skill India Mission:

Skill development of the new generation youth is a national need and a vast foundation for a self-reliant India.

According to PM, under Skill India Mission, 1.25 crore youth have been trained to date.

The government launched the skill India Mission initiative to train over 40 crore Indians in different jobs related to the . Under this mission, the government seeks to create an empowered workforce by 2022 with the help of several schemes and training courses.

First Pod Taxi Service in India

IPRCL (Indian Port Rail & Ropeway Corporation Limited) has prepared a Detailed Project Report (DPR) for the pod taxi service between Film City and Noida Airport at Jewar.

Highlights:

There are ideas to run a driverless taxi between these two destinations. The cost will be about Rs 862 crore, according to the DPR submitted to the Yamuna Expressway Industrial Development Authority (Yeida). This is 14 km long. And, this will be the first pod taxi service in India. Pod taxis can accommodate four to six passengers per car. This vital project will provide smooth connectivity to residential and industrial areas falling between film city and the Noida International

Airport. As per the DPR, the corridor will pass through various sectors such as 21, 28, 29, 30 and 32, falling under the Yeida region.

MoU between India and Denmark

The Cabinet has approved a Memorandum of Understanding (MoU) on Health and Medicine Cooperation between India and the Kingdom of Denmark.

Highlights:

Through joint initiatives and technology

development in the , the bilateral MoU will encourage cooperation between India’s Ministry of Health and Family Welfare and Denmark’s Ministry of Health.

It will strengthen India-Denmark bilateral ties.

MoU between India and Russia

The Cabinet has approved a Memorandum of Understanding (MoU) between India and the Russian Federation on cooperation in the production of coking coal, which is used in the production of steel.

Highlights:

The goal of the memorandum of understanding is to strengthen

cooperation in the steel between the governments of India and Russia.

The MoU will benefit the entire steel industry by lowering input costs. This could reduce the cost of steel in the country while also promoting Equity and inclusiveness.

The Memorandum of Understanding will establish an institutional mechanism for India and Russia to cooperate in the coking coal sector.

Scheme for Promoting Merchant Ship Flagging in India

The has approved a scheme to promote flagging merchant ships in the country.

Highlights:

In accordance with the Atmanirbhar Bharat objectives, the Cabinet approved a scheme to provide subsidies to merchant ships in India.

Indian shipping companies will receive subsidies in global tenders conducted by ministries and central public sector enterprises (CPSE).

The government will provide a subsidy of Rs. 1,624 crore over a five-year period. This will be provided to shipping companies in the global tenders conducted by ministries and CPSEs for

importing government goods.

Ships flagged in India after February 1, 2021, whose age is between 10 and 20 years at the time of flagging in India, will receive extended subsidy support at 10% of the quoted price provided by L1 foreign shipping companies, or exercise the actual difference between the quotation provided by the Indian flag vessel with the right of first refusal (ROFS) and the quotation provided by the L1 foreign shipping

company, whichever is smaller.

The rate at which subsidy support is extended would be reduced by 1% per year until it reached 10% and 5%, respectively.

Objectives:

To investigate the South Pole region of the Moon.

To help in the creation of lunar resource maps.

Determine the concentration of water and other potential Resources on the surface.

Determine whether human

life can be sustained there by utilising locally available resources.

It is the first mission to map the resources of any celestial body.

NASAs Commercial Lunar Payload Service will provide launch vehicles and landers for the upcoming 100-day mission.

Informal sector workers still denied adequate social security sops

The developed countries of the world with better social and standards such as Sweden, Denmark, New Zealand, The Nederland and Australia have a better social security system while the poor and developing countries such as India are still struggling to establish a developed universal social security system.

In recent time of post globalisation, it has been widely debated over State Investment and PUBLIC FINANCE spending on social security and its impact on economy and role of emerging market forces but worldwide it is being understood that social security has a close link with the economic Growth and the State has a major role in ensuring social security for all its citizensby adopting a universal social security policy beneficial to all.

Universal social security measures by the State are also required to build an inclusive democratic Society. It ensures a sense of belonging among its citizens who feel that the society takes care of its people of all ages, classes and groups. The unwell, weak, poor, children, elderly and unemployed are always in need of special care and protection because of their vulnerability.

Our social culture and State policy should take care of all its vulnerable sections by ensuring material comfort and emotional support to live a dignified life without depending on others mercy. But in spite of constitutional mandate, our State social security policy has not been universalized to ensure social security for all people irrespective of their nature of EMPLOYMENT.

The State has a major role in building social security Infrastructure and developing social security administrative mechanisms. There are States such as Kerala which have done exemplary work in terms of benefiting the poor and vulnerable sections with State sponsored social security measures.

The States like Tamil Nadu, Uttarakhand and Kerla have introduced pensions for agricultural labourers and farmers. The Tamil Nadu Agriculture-notes-for-state-psc-exams”>Agriculture Labourers -Farmers Social Security and Welfare Scheme has provisions of pension, Education, marriage and maternity benefits. With a large presence

of informal workers and marginalized social groups, Odisha has a very poor social security measure in comparison to other States in India.

50% of 716 districts have large deficiency in monsoon rainfall

Nearly 50% of 716 districts in India are currently recording large deficiency in monsoon rainfall, while another 19% are deficient, IMD data shows.

All subdivisions ofMaharashtrahave araindeficiency of over 79-80% as monsoon evaded most parts of the state during the June 1-14 period. Regions such as Haryana, Chandigarh, Delhi (30%), east UP (97%), west UP (83%), west MP (73%), east MP (88%) are also largely deficient, the data showed.

Kerala and Mahe,

already covered by the monsoon, is also showing 55% rainfall deficiency so far this season. The all-India monsoon rainfall deficiency during the June 1-14 period is 53%, the data showed.