Current Affairs Government Schemes

  On the recommendation of Cabinet Secretary P K Sinha, the government constituted a committee under the Central Electricity Authority (CEA) to explore prepaid payments by state electricity distribution companies to power plants. The formed committee, consist of the chairman of distribution companies of Tamil Nadu and Maharashtra, and representatives from Union power ministry and power associations to look into problems of delayed payments from distribution companies to power generators. The CEA led committee has been asked to submit its recommendations to the power ministry in one month.
Source: The Economic Times

  The Maharashtra government launched a special scheme to curb infant deaths. Child Development Minister Pankaja Munde distributed baby-care kits to the children born in primary health centers and government hospitals. The scheme is applicable only for the first child and will benefit around four lakh women across the state, Women. The cost of the kit is around Rs 2,000.
Source: News on AIR

  K.J. Alphons, Union Minister for Tourism has inaugurated the first project under the Swadesh Darshan Project of the Union Ministry of Tourism at the Zero Point, Gangtok, Sikkim. This project was sanctioned by the Ministry of Tourism in June 2015 for Rs. 98.05 crores. Swadesh Darshan Scheme is one of the flagship scheme of Ministry of tourism for development of thematic circuits in the country in a planned manner. Under this scheme, the Government is focussing on the development of quality infrastructure in the country with the objective of providing better experience and facilities to the visitors and on fostering economic growth.
Source: Press Information Bureau

 Employees’ Provident Fund Organisation has notified three new committees on Finance, Investment and Audit Committee (FIAC), the Pension and EDLI Implementation Committee (PEIC) and the Exempted Establishments’ Committee (EEC). All the 3 committees will continue to have central government representatives as well as 2 representatives each of the employers and the employees and domain experts. While the FIAC will oversee investments made by portfolio managers and ensure timely investment of PF kitty for optimum returns, PEIC will review the function of the Employees’ Pension Scheme, 1995 and the Employees Deposit Linked Insurance Scheme, 1976. The EEC will oversee the working of exempted establishments and move suggestions for CBT for improvement in the working of these exempted establishments.
Source: The Economic Times

 Indian Council of Agricultural Research (ICAR) has launched the National Agricultural Higher Education Project (NAHEP) to attract talent and strengthen higher agricultural education in the country. It is inaugurated at the fourth Convention of 2-day “Agrivision-2019” organized by Vidyarthi Kalyan Nyas in Pusa, New Delhi. This project (Rs 1100 crore) is to be funded by the World Bank and the Indian Government on a 50:50 basis. To enhance the participation of students in agricultural business, READY (Rural Entrepreneurship Awareness Development Yojana) is also provided to the students.
Source: Press Information Bureau

  Insurance Regulatory Development Authority of India (IRDAI) has set up a panel headed by Praveen Kutumbe, to identify domestically systematically important insurers (SIIs) and an augmented regulatory framework is logically established in this regard. Praveen Kutumbe, Member- Finance and Investment, IRDAI, has been asked to submit the report in six months. IRDAI stated that the failure of SIIs has the potential to cause significant disruption to the essential services they provide to policyholders.
Source: The Press Reader

 Prime Minister Narendra Modi launched the Pravasi Teerth Darshan Yojana under which a group of Indian diaspora will be taken on a government-sponsored tour of religious places in India twice a year. The first batch of 40 Indian-origin people are at the Pravasi Bharatiya Divas and from here they will begin their tour. They will be taken to religious places of all major religions in India and the government will bear all the expenses including the airfare from their country of residence.
Source- The Times of India

 The government has constituted a high power committee to monitor the pricing of medicines and healthcare products. The committee will be headed by a Niti Aayog member (Health). It will be tasked with recommending price controls and monitoring the prices of specific drugs and health products to ensure their affordability. The Standing Committee on Affordable Medicines and Health Products (SCAMHP) will be the recommending body to the National Pharmaceutical Pricing Authority (NPPA). The committee will also include the chief economic adviser and other policymakers.
Source: India Today

  The Insolvency and Bankruptcy Board of India (IBBI) has set up an 11-member working group under the Chairmanship of former SEBI chief UK Sinha to go into the concept of ‘Group Insolvency’ and suggest a suitable framework. This Working Group has been tasked to submit a report — within two months — recommending a complete regulatory framework to facilitate insolvency resolution and liquidation of corporate debtors in a Group.
Source- The Hindu Business Line

 A ministerial panel headed by Maharashtra Finance Minister Sudhir Mungantiwar will examine uniformity of taxation on lottery under GST or other issues arising out of it. Under GST, state-organized lottery falls under the 12% tax slab while state-authorized lottery attracts 28% tax. The GoM for the lottery will submit its report to GST Council in the next meeting for approval.
Source: Money Control


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