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Saturday, October 02, 2021

PM POSHAN Scheme

17:56

 Why in news?

The existing Mid-Day Meal scheme which provides hot meals to students will be renamed as the National Scheme for PM Poshan Shakti Nirman.

What are the key features of the scheme?

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Vision IAS PT 365 Classroom Study Material Extended-3 in Hindi PDF

13:39

Vision IAS PT 365 Classroom Study Material Extended-3 in Hindi PDF

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The HINDU Notes – 02nd October 2021

13:32

 


📰 Modi launches missions for better cities

It will also be ensured that no untreated water is discharged into any rivers, he says

•Prime Minister Narendra Modi on Friday said the second phase of the Swachh Bharat Mission-Urban and Atal Mission for Rejuvenation and Urban Transformation would be aimed at making cities free of garbage and ensuring safe drinking water. It would also be ensured that no untreated water was discharged into any of the rivers in the country.

•Launching the second edition of the mission, he applauded the country for fulfilling the pledge of making it free of open defecation.

•Mr. Modi said that people came to cities seeking a better life. Even if they managed to find employment, their living standards often suffered. It was a double whammy for workers: first they were away from their homes and then they were forced to live in deplorable conditions, he stated, adding that the missions would improve cities.

•India was processing about one lakh tonnes of waste every day. Under the new phases of the two missions, the garbage mountains that pile up at the borders of cities would be processed and completely removed, the Prime Minister said.

📰 ‘India, Sri Lanka can learn a lot from each other’

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Economy Yearly Compilation Jan 2020 – Aug 2021 PDF Download

07:58

Economy Yearly Compilation Jan 2020 – Aug 2021 PDF Download

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THE HINDU NEWSPAPER IMPORTANT ARTICLES 02.10.2021

07:48
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Friday, October 01, 2021

Diademy IAS Economy Crux Revision Notes Prelims 2021 PDF

16:42

Diademy IAS Economy Crux Revision Notes Prelims 2021 PDF

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Daily Current Affairs, 01st October 2021

16:32

 


1)  International Day of Older Persons: 01 October

•International Day of Older Persons is observed globally on 1st October every year. The day aims to raise awareness about issues affecting the elderly, such as senescence and elder abuse, and appreciate the contributions that older people make to society. The theme of International Day of Older Persons 2021: Digital Equity for All Ages.


2)  International Coffee Day: 01 October

•Every year, International Coffee Day is observed on October 1, to celebrate and promote the use of coffee. There are many who believe that coffee might pose ill effects on their health, therefore, on this day people are educated about the various benefits of this beverage. On International Coffee Day, the hard work and efforts of these workers and people who are associated with the coffee industry are also recognised.


3)  World Vegetarian Day: 01 October

•World Vegetarian Day is observed annually on October 1 globally to raise awareness about the ethical, environmental, health, and humanitarian benefits of a vegetarian lifestyle. World Vegetarian Day is celebrated to emphasize environmental considerations, animal welfare and rights issues and personal health benefits to encourage people into ditching animal products. The full week between October 1–7 is observed as the International Vegetarian Week (IVW).


4)  PM Modi chairs 38th PRAGATI Meeting

•Prime Minister Narendra Modi has chaired the 38th PRAGATI meeting to review multiple projects, grievances and programmes of central and state government. PRAGATI stands for Pro-Active Governance and Timely Implementation. In the meeting, eight projects were taken for review having a cumulative cost of around Rs 50,000 crore. 297 projects worth Rs. 14.39 lakh crore has been IFSCA Constitutes an Expert panel on Sustainable Financeeviewed so far in the previous 37 PRAGATI meetings.


5)  IFSCA Constitutes an Expert panel on Sustainable Finance

•International Financial Services Centres Authority (IFSCA) has constituted an Expert Committee to recommend an approach towards the development of the Sustainable Finance Hub at IFSC. The expert committee will be chaired by C.K. Mishra, Former Secretary to Government of India, Ministry of Environment, Forest & Climate Change. The committee consists of a total of 10 members including the chairperson and the member secretary.


6)  Sunil Kataria elected as the chairman of the ISA

•The newly elected Executive Council of the Indian Society of Advertisers (ISA) has elected Sunil Kataria, Chief Executive Officer, India and SAARC, Godrej Consumer Products Limited as the Chairman of the ISA. Sunil has led the Society over the past five years to greater heights garnering support from the fellow Executive Council members, the ISA members and other industry bodies.


7)  NSDL appointed Padmaja Chunduru as MD & CEO

•Padmaja Chunduru has been appointed as the managing director and chief executive officer (MD & CEO) of National Securities Depositories (NSDL). She has replaced GV Nageswara Rao as the MD & CEO of NSDL. In India, there are two depositories namely National Securities Depositories Ltd (NSDL) and Central Securities Depositories Ltd (CDSL). Both the depositories hold our financial securities.


8)  Chronicles from the Land of the Happiest People on Earth by Wole Soyinka released

•A novel titled “Chronicles from the Land of the Happiest People on Earth” authored by Wole Soyinka has been released. Wole Soyinka is Africa’s first Nobel laureate in Literature. He wrote his last novel ”Season of Anomy” in 1973. He returns with a new novel after nearly 50 years. His notable plays include ”The Jero Plays”, ”The Road”, ”The Lion and the Jewel”, ”Madmen and Specialists” and ”From Zia, With Love”.


9)  Vinod Aggarwal appointed ASDC president

•The Automotive Skills Development Council (ASDC) has appointed automobile industry veteran Vinod Aggarwal as its president. Aggarwal, who is currently the managing director and CEO of VE Commercial Vehicles Ltd (VECV), replaces Nikunj Sanghi, who will leave ASDC after serving it for four years.


•ASDC was set up a decade ago and is promoted by the top industry associations — SIAM, ACMA and FADA — along with the central government and the National Skill Development Corporation (NSDC). It is a sector skills council for the auto industry, which aims to make the country self-sufficient to sustain the growth and competitiveness of the automotive industry.


10)  Mukesh Ambani tops Hurun India Rich List 2021

•Reliance Industries Chairman, Mukesh Ambani has topped the IIFL Wealth Hurun India Rich List for the 10th consecutive year. In 2021, his total net worth was recorded at Rs 7,18,000 crore. Meanwhile, Adani Group Chairman Gautam Adani is in the second spot with a net worth of Rs. 5,05,900 crore. Shiv Nadar & the family of HCL technologies are third in the list with a net worth of Rs 2,36,600 crore.

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The HINDU Notes – 01st October 2021

16:14

 


📰 Hidden debt rising for partners of China’s BRI plan

42 countries now have debt exposure to China in excess of 10% of GDP

•A new study has found under-reported debts to the tune of $385 billion in projects carried out in dozens of countries under China’s Belt and Road Initiative (BRI), with a rise in “hidden” debt on account of an increasing number of deals struck not directly between governments but structured through often opaque arrangements with a range of financing institutions.

•The study by AidData, a development research lab at the College of William & Mary in the U.S., found that “Chinese debt burdens are substantially larger than research institutions, credit rating agencies, or intergovernmental organisations with surveillance responsibilities previously understood” and “42 countries now have levels of public debt exposure to China in excess of 10% of GDP.”

•The total debt, the study added, was “systematically under-reported to the World Bank’s Debtor Reporting System (DRS) because, in many cases, central government institutions in LMICs [low and middle income countries] are not the primary borrowers responsible for repayment”.

•It estimated that the average government “is under-reporting its actual and potential repayment obligations to China by an amount that is equivalent to 5.8% of its GDP” and “collectively, these under-reported debts are worth approximately $385 billion.”

•The report studied 13,427 projects across 165 countries worth $843 billion, in the time period from 2000 to 2017, and examined how President Xi Jinping’s BRI plan, launched in 2013, has changed China’s overseas lending.

•The big difference between China and other prominent sources of overseas financing was that Chinese banks have used “debt rather than aid to establish a dominant position in the international development finance market”. Since the introduction of the BRI, China “maintained a 31- to-1 ratio of loans to grants and a 9-to-1 ratio of Other Official Flows (OOF) to Official Development Assistance (ODA)”, although Chinese agencies sometimes do not differentiate between loans and grants in public statements of financial assistance. The report found the average loan from China has a 4.2% interest rate, a grace period of less than two years, and a maturity length of less than 10 years.

Biggest recipients

•From 2000 to 2017, Iraq ($8.5 billion), North Korea ($7.17 billion) and Ethiopia ($6.57) were the biggest recipients of ODA, while Russia ($151.8 billion), Venezuela ($ 81.96 billion) and Angola ($50.47 billion) were the biggest recipients of Chinese loans. India ranked 23rd in the list of top recipients of Chinese loans from 2000 to 2017, receiving $8.86 billion, according to the report.

•What has, however, led to many countries, such as Nepal and Sri Lanka in South Asia, turning to Chinese loans at higher interest rates is the lack of financing options elsewhere for infrastructure projects.

•This has seen a surge in lending from Chinese institutions over the past two decades. What has changed under the BRI, the study found, was that while earlier most overseas lending involved central government institutions, now nearly 70% of China’s overseas lending is now directed to state-owned companies, state-owned banks, special purpose vehicles, joint ventures, and private sector institutions. These debts “do not appear on government balance sheets in LMICs” although “most of them benefit from explicit or implicit forms of host government liability protection, which has blurred the distinction between private and public debt and introduced major public financial management challenges for LMICs.”

•The other change with the BRI is the rising number of “mega projects” (worth $500 million or more), which has prompted Chinese banks to work through lending syndicates and financing arrangements to share the risk. The share of projects thus co-financed accounts for 32%, and is another reason behind the debt being “hidden”.

Scandals, corruption

•The report found that Chinese institutions use collateralisation to mitigate risk, for instance with loans collateralised against future commodity export receipts to minimise repayment risk, or later priced at higher interest rates, up to 6%.

•The report said 35% of the BRI infrastructure project portfolio has encountered major implementation problems, such as corruption scandals or labour violations, with Pakistan topping the list of countries with the most number of projects hit by scandals and corruption.

📰 Failing on food: on child malnutrition and mid-day meals

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Modern Indian History Quick Revision Prelims PDF

08:20

 Modern Indian History Quick Revision Prelims PDF

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THE HINDU NEWSPAPER IMPORTANT ARTICLES 01.10.2021

07:46
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