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Insights Daily Current Events, 13 January 2016

Insights Daily Current Events, 13 January 2016

Archives

Paper 3 Topic: Changes in industrial policy and their effects on industrial growth.

Start Up India schemes to finally take off

The government is all set to form an overarching supervisory body with about ten members to oversee the allocation of funds under the Self-Employment and Talent Utilisation (SETU) scheme and the Atal Innovation Mission (AIM).

  • The panel would include secretaries from the departments of science and technology, biotechnology, industrial policy and promotion as well as the ministry of micro, small and medium enterprises.
  • The government has already allocated Rs 1,000 crore to the SETU scheme and Rs 150 crore for AIM.
  • With this formation, the government can finally start deploying funds from the Self-Employment and Talent Utilisation (SETU) scheme and the Atal Innovation Mission (AIM) announced in the Union Budget for 2015-16 to promote startups and scientific research, after over ten months of spadework.

Self-Employment & Talent Utilisation (SETU):

It will be a Techno-Financial, Incubation and Facilitation Programme to support all aspects of start up businesses, and other self-employment activities, particularly in technology-driven areas. An amount of Rs.1000 crore is being set up initially in NITI Aayog for SETU.

  • The SETU scheme’s resources would be devoted to strengthening incubators and setting up ‘tinkering labs’ where ideas can be shaped into prototypes before they are ripe for funding.
  • Half of the funds under SETU would be earmarked for strengthening existing incubators in the country, backed by different departments, so that the support mechanism for budding entrepreneurs is more robust.
  • The rest, Rs 500 crore, would be used for setting up tinkering labs, where students can literally potter about and create prototypes and models of their ideas with the ability to demonstrate basic functions.

Atal Innovation Mission (AIM):

It will be an Innovation Promotion Platform involving academics, entrepreneurs and researchers and draw upon national and international experiences to foster a culture of innovation, R&D and scientific research in India.

  • The platform will also promote a network of world-class innovation hubs and Grand Challenges for India. Initially a sum of Rs.150 crore will be earmarked for this purpose.
  • The AIM would focus on inviting aspiring entrepreneurs to solve India’s contemporary socio-economic problems via ‘grand challenges’ that offer substantial awards to incubate and scale up winning ideas.
  • The idea of posing social problems as a ‘grand challenge’ for aspiring startups under the AIM, is to engage young graduates eyeing the startup space into thinking beyond the internet, e-commerce and mobile applications space.

sources: the hindu, pib.

 

Paper 2 Topic: Welfare schemes for vulnerable sections of the population by the Centre and States.

MUDRA to achieve loan target: CEO

According to the Chief Executive Officer of Micro Units Development & Refinance Agency Ltd (MUDRA), Jiji Mammen, the loans given under the PMMY Scheme (Pradahan Mantri Mudra Yojana) are set to achieve the target of Rs.1.2 lakh crore by March 2016.

  • Around Rs.75,000 crore have been given till December 2016. The loans were disbursed by banks and MFIs.
  • Nearly half of the 1.7 crore beneficiaries are people who are setting up new units while the rest have used the micro finance facility for expanding their units.

About the Pradhan Mantri MUDRA Yojana (PMMY) scheme:

The PMMY Scheme was launched by Prime Minister Narendra Modi in April, 2015. The scheme’s objective is to refinance collateral-free loans given by the lenders to small borrowers.

  • The scheme, which has a corpus of Rs 20,000 crore, can lend betweenRs 50,000 and Rs 10 lakh to small entrepreneurs.
  • Banks and MFIs can draw refinance under the MUDRA Scheme after becoming member-lending institutions of MUDRA.

Significance of this scheme:

  • It will greatly increase the confidence of young, educated or skilled workers who would now be able to aspire to become first generation entrepreneurs.
  • Existing small businesses, too, will be able to expand their activities.
  • By floating MUDRA bank, the Centre has ensured credit flow to SMEs sector and has also identified NBFCs as a good fit to reach out to them.
  • People will now be able to get refinance at subsidised rate and it would be passed on to the SMEs. Moreover, it would enable SMEs to expand their activities.

sources: the hindu, pib.

 

Paper 2 Topic: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

New skill initiatives launched for youths on National Youth Day

The Union Ministry of Tourism has launched the following new skill initiatives on the occasion of “National Youth Day” in order to improve the sectoral service standards, which is one of the pre-requisites for attracting tourists in larger numbers:

A sensitization programme for the existing service providers at Varnasi:

  • The primary objectives of the programme will be to eventually achieve an improved tourist specific service ambience and to further the Swachh Bharat Abhiyaan.
  • It will target Boatmen, Rickshaw pullers, Pandas, Porters, Shopkeepers & Street Vendors.
  • The Programme will be implemented by the Indian Institute of Tourism & Travel Management.

A programme to groom young persons interested in home delivery service as an occupation:

  • It will target persons who are at least matriculates and in the age group of 18-28 years.
  • The Programme will be implemented by the Indian Institute of Tourism & Travel Management, Institutes of Hotel Management & Food Craft Institutes.
  • The programme will prepare the trainees to deliver food at home with skill, style and civility.

A programme for training to bring up “Paryatak Mitra”:

  • The programme will attempt to inculcate appropriate tourism traits and knowledge among the trainees to enable them to act / work as Tourist Facilitators (Paryatak Mitra).
  • It will target college-going students including those enrolled with the NCC& NSS, in the age group of 18-28 years.
  • The programme will be implemented by the Indian Institute of Tourism & Travel Management, first at destinations identified under the PRASAD scheme of the Ministry of Tourism.

A training programme to bring up tourist facilitators in the North East:

  • The primary objective of the programme limited to the North East, will be to achieve better tourist satisfaction in terms of availability of skilled tourist facilitators. It will target 10+2 pass-outs in the age group of 18-28 years.
  • The programme will be implemented by the Indian Institute of Tourism & Travel Management.

sources: pib.

 

Paper 2 Topic: Government policies and interventions for development in various sectors and issues arising out of their design and implementation.

Corporate Skill Excellence Centres

As part of the Skill India Development Mission, the union Ministry of Skill Development & Entrepreneurship has embarked upon a special industry initiative to attract leading corporate to set up co-branded Corporate Skill Excellence Centres in PPP mode. This was announced by the government at the recently held National Industry Conclave on Skill in Mumbai.

  • In this regard, the Government will provide various tax and non-tax incentives for corporates that set up Corporate Skill Excellence Centres as part of their core business or CSR activities.
  • The CSR funds can be routed through National Skill Development Fund with specific outcomes.

About the National Skill Development Mission:

The National Skill Development Mission aims to provide a strong institutional framework at the Centre and States for implementation of skilling activities in the country. It was launched by the Prime Minister in July 2015.

  • The Mission will have a three-tiered, high powered decision making structure. At its apex, the Mission’s Governing Council, chaired by the Prime Minister, will provide overall guidance and policy direction.
  • The Steering Committee, chaired by Minister in Charge of Skill Development, will review the Mission’s activities in line with the direction set by the Governing Council. The Mission Directorate, with Secretary, Skill Development as Mission Director, will ensure implementation, coordination and convergence of skilling activities across Central Ministries/Departments and State Governments.
  • The Mission will also run select sub-missions in high priority areas.
  • The National Skill Development Agency (NSDA), the National Skill Development Corporation (NSDC) and the Directorate of Training will function under the overall guidance of the Mission.
  • The Ministry of Skill Development and Entrepreneurship (MSDE) provides a natural home for the Mission, organically linking all three decisions making levels and facilitating linkages to all Central Ministries/Departments and State Governments.

sources: pib.

Trivia:

The National Youth Day was celebrated across the country on 12th January. It also marks the birth anniversary of Swami Vivekananda. In 1984 the Government of India declared the day as the National Youth Day and since 1985 the event is celebrated in India every year.