Current Affairs 28th April

National Affairs

1. Cabinet clears National Medical Devices Policy 2023; CCEA approved setting up 157 new nursing colleges

The National Medical Devices Policy, 2023, was approved by the Union Cabinet, led by Prime Minister (PM) Narendra Modi, on April 26, 2023. This policy is expected to help the medical device industry grow to USD 50 billion (Rs 4 lakh crore) by 2030.

India’s market for medical devices is estimated to be worth USD 11 billion (Rs 90,000 crore) in 2020, and its share of the global market for medical devices is estimated to be 1.5%.

The Cabinet Committee on Economic Affairs (CCEA) approved the establishment of 157 new nursing colleges in conjunction with existing medical colleges established since 2014, as announced in the FY24 Union Budget. Rs 1,570 crore will be spent on the same.

Uttar Pradesh (UP) will have the greatest number of schools (27), while

Rajasthan will have 23 and Madhya Pradesh, 14.

2. NITI Aayog Releases Report titled “Promoting Millets in Diets: Best Practices across States/UTs of India”

A report titled “Promoting Millets in Diets:” was published by the National Institute for Transforming India (NITI Aayog). The publication “Best Practices across States/UTs of India” compiles a collection of innovative and effective strategies implemented by state governments and organizations in a variety of millet value chain facets.

The report was presented by Suman K. Bery, Vice Chairman of NITI Aayog, in the presence of Dr. V.K. Paul, Member (Health), Dr. Ramesh Chand, Member (Agriculture), and B. V. R. Subrahmanyam, CEO of NITI Aayog.

Regarding the Report:

The best practices for various aspects, particularly production, processing, and consumption, are discussed in the report, which serves as a resource for reviving and mainstreaming millets in our diets.

State Missions and initiatives to promote millets are the subjects covered in this report.

incorporating millets into the Integrated Child Development Scheme

Utilization of technology for innovative practices and research and development

Key points:

The report says that the promotion of rice and wheat and the lack of efforts to produce millets have reduced the amount of land under cultivation in India.

India produces the nine traditional millets that are most well-known: Sorghum, Pearl Millet, Finger Millet, Foxtail Millet, Proso Millet, Little Millet, Barnyard Millet, Brown Top Millet, and Kodo Millet are the various varieties of millet.

Due to their resilience and climate adaptability in both hot and dry climates, they are the most secure crops for small farmers.

Advantages of millets:

Millets have a more balanced amino acid profile and a high protein content.

Additionally, they contain a variety of phytochemicals with therapeutic effects due to their anti-inflammatory and antioxidant properties.

Additional details:

In 2018, the Indian government declared millets to be nutrient-dense cereals and observed the National Year of Millets.

The United Nations General Assembly (UNGA) approved a resolution declaring 2023 to be the International Year of Millets in response to India’s constructive proposal for the International Year of Millets. Around 70 nations endorsed India’s proposal.

3. Union Minister Nirmala Sitharaman approves Navratna status to Rail Vikas Nigam 

The move of Rail Vikas Nigam Limited (RVNL) from a Category-I MiniRatna CPSE to a Navratna Central Public Sector Enterprise (CPSE) was approved by Union Minister Nirmala Sitharaman and the Ministry of Finance (MoF) on April 26, 2023.

RVNL, a public sector company under the Ministry of Railways (MoR), has been named the 13th CPSE Navratna, as reported by the Department of Public Enterprises (DPE).

Note: Kinet Railway Solutions Limited was created as a subsidiary of RVNL on April 20, 2023.

Central issues:

Since RVNL has been elevated to the ‘Navratna’ class of CPSE, it will have more independence regarding speculation, setting up joint endeavors, and other monetary choices.

For the years 2021–22, RVNL, a mid-cap company, has a turnover of Rs 19,381 crore and a net profit of Rs 1,087 crore.

The Indian Navratna CPSE:

In order to identify CPSEs with comparative advantages and support them in their efforts to become global giants, the Government introduced the Navratna scheme in 1977.

Standards for Navratna CPSE:

The qualification models expected for a Focal Public Area Endeavors to get the

Navratna status are as per the following,bThe organization ought to be recorded on Time An of CPSEs and have Miniratna Class I status.

Under the Memorandum of Understanding system, the company should have received an Excellent or Very Good rating for three of the last five years.

In addition, the business must achieve a PBDIT (Profit Before Depreciation, Interest, and Taxes) score of 60 out of 100 in terms of net worth, net profit, total production costs, labor costs, service costs, capital employed, and PBDIT.

The organization ought to have 4 autonomous chiefs on its Governing body.

Extra Data:

The other 12 Navratna CPSEs of India are:

Bharat Hardware Restricted, Holder Company of India Restricted, Specialists India

Restricted, Hindustan Aviation Restricted, Mahanagar Phone Nigam Restricted,

Public Aluminum Organization Restricted, Public Structures Development Company

Restricted, Neyveli Lignite Company Restricted, NMDC Restricted, Oil India Restricted,

Rashtriya Ispat Nigam Restricted, and Transportation Partnership of India Restricted

India has 12 Maharatna, 13 Navratna, and 74 Miniratna CPSEs.

4. Union Minister Amit Shah Launches World’s 1st ‘Nano DAP’ Developed by IFFCO

The world’s first liquid Nano DAP (Diammonium phosphate) developed by Indian Farmers Fertiliser Cooperative Limited (IFFCO) was launched on April 26, 2023, by Union Minister Amit Shah, the Ministry of Home Affairs, and the Ministry of Cooperation at New Delhi, Delhi. 

The launch of IFFCO Nano DAP (Liquid), a nano fertiliser product containing nitrogen and phosphorus, aims to make India self-reliant in the fields of food production and fertilizers

Central issues:

A second initiative of IFFCO is the introduction of Nano DAP, also known as the World’s First “Nano Urea” in 2021.

IFFCO has enrolled a patent, under which IFFCO will get 20% eminence on the deal

of Fluid Urea and Fluid DAP anyplace on the planet for a very long time.

Nano-DAP is being produced jointly by IFFCO and a private company called Coromandel.

Each 500 ml bottle of Nano DAP will cost Rs 600. One bag of DAP, which currently costs Rs 1,350, will be the same price as one bottle.

One 500 ml bottle has the same effect on the crop as a 45 kg bag of granular urea.

5. DoSJE signed MoU with Art of Living to make NMBA more effective and widespread

A Memorandum of Understanding (MoU) was signed on April 26, 2023, between the Department of Social Justice and Empowerment (DoSJE) and Art of Living (AoL), a non-profit, volunteer-based, humanitarian, and educational non-governmental organization (NGO), to spread the message of Nasha Mukt Bharat Abhiyaan (NMBA) among youth, women, students, and others.

The MoU was endorsed at the occasion held at Dr. B.R Ambedkar Global Center,

New Delhi, Delhi within the sight of Association Clergyman Dr. Virendra Kumar, MoSJE and

Gurudev Sri Ravi Shankar, organizer behind Specialty of Living.

Note:

In India, the central ministry for reducing drug demand is MoSJE.

On August 15, 2020, the MoSJE established NMBA to coordinate, implement, and monitor a variety of interventions, including prevention, determining the extent of the problem, treating and rehabilitating users, and so on.

One of the most important campaigns to improve the evidence-based approach to substance abuse is NMBA.

The NMBA as of now upholds the running of 508 focuses in 372 weak locale,

which incorporate various kinds of de-enslavement and advising focuses.

Central issues:

The MoSJE has been implementing the National Action Plan for Drug Demand Reduction (NAPDDR) for 2018-2023, which focuses on preventing drug addiction through education, awareness, identification, counseling, treatment, and rehabilitation.

Under the NAPDDR, the training and capacity building of service providers through cooperative efforts by the Central, State, Union Territory, and Non-Governmental Organizations are eligible for financial support.

Important details:

As of now 8,000 Expert Workers have been chosen and prepared to lead the

crusade exercises in the 372 recognized regions.

More than 3.13 crore young people have actively participated in the activities and helped spread the anti-drug message on the ground.

The campaign has also been associated with more than 4,000 YuvaMandals, volunteers from the National Service Scheme (NSS) and NYKS (Nehru Yuva Kendra Sangathan), as well as youth clubs.

The commitment of 2.09+ Crore ladies have likewise been crucial in connecting with a

bigger local area through the Anganwadi and ASHA (Authorize Social Wellbeing

Extremist) Laborers, ANMs (Helper nurture birthing specialist), MahilaMandals and Ladies SHGs

(Self improvement gathering).

Art of Living’s About:

Gurudev Sri Sri Ravi Shankar established it in 1981. It provides a variety of stress reduction and self-improvement programs based on yoga, meditation, and breathing exercises.

International Affairs

1. India signs new Work Plan 2023 on Quality Infrastructure with Germany during Indo-German Working Group meeting in Berlin

On April 25, 2023, The Branch of Buyer Issues, under the Service of

Buyer Undertakings, Food and Public Dispersion, and the German Government Service for

Monetary Undertakings and Environment Activity marked the new Work Plan for 2023 during the ninth Yearly Gathering of the Indo-German Working Gathering on Quality Foundation (QI)

in Berlin, Germany. The Working Group will celebrate its tenth anniversary at this year’s Annual Meeting.

Signatories:

It was endorsed by Nidhi Khare, Extra Secretary, Branch of Customer Undertakings

furthermore, Dr. Daniela Broenstrup, Chief General, Computerized and Development Strategy, Government Service for Monetary Issues and Environment Activity

Central issues:

The Working Group’s crucial role in lowering technical trade barriers, encouraging innovation, and protecting consumers were emphasized by both sides.

The Working Group’s technical dialogues promote international systemic QI harmonization and address key areas of economic cooperation between the two nations.

Insights into the most recent QI developments in Germany and India were provided by stakeholders from industry and QI bodies.

The German Standardization Roadmaps for the Circular Economy and Industries 4.0 and the Standards National Action Plan for India were two examples of these.

The key QI components of standardization, accreditation, conformity assessment, legal metrology, product safety, and market surveillance are arranged in the Work Plan 2023. It addresses cross-cutting issues like harmonised global solutions as well as sector-specific cooperation issues like the circular economy, smart farming, digitalization (Industry 4.0), and cyber security.

2. WB’s World Development Report 2023: Globally 185 million People are Migrant

As indicated by the World Bank’s (WB) yearly report ‘World Improvement Report 2023:

184 million people, or 2.3% of the world’s population, are migrants (those who lack citizenship in the country in which they live) according to Migrants, Refugees, and Societies. The majority of migrants—43 percent—live in low- and middle-income countries.

The report proposes policies to better manage migration in destination, transit, and origin countries and conducts a comprehensive analysis of international migration and its potential to be a force for growth and shared prosperity in all nations.

The rapid aging of economies, according to the report, will increase migration dependence.

Central issues:

37 million of the 184 million migrants are refugees, a number that has tripled in a decade.

Migration is becoming increasingly necessary for nations of all income levels as a result of demographic shifts.

Many nations are expected to see a sharp decline in the proportion of adults who are working-age in the coming decades.

By 2100, Spain’s 47 million people are expected to shrink by more than one third, with the number of people over 65 rising from 20% to 39%. Mexico, Thailand, Tunisia, and Turkey may soon require more foreign workers due to their stagnant populations.

In order to lessen the need for people to migrate as a result of economic distress, the report recommended increasing requirements for international development efforts in origin countries.

The countries of origin needed to work to lower the cost of remittances to families back home and make labor migration an explicit part of their development strategy.

In addition, new multilateral financing instruments must be developed to assist nations in providing predictable care for non-citizens in order to encourage migration from populations where those skills are in high demand.

3. India remains on the Priority Watch List in 2023: USTR ‘s 2023 Special 301 Report

India remains on the Priority Watch list for 2023 due to its inconsistent progress on IP protection and enforcement, according to the Office of the United States Trade Representative (USTR)’s 2023 Special 301 Report on the adequacy and effectiveness of US trading partners’ IP rights protection and enforcement.

In 2023, Venezuela, Argentina, Chile, China, Indonesia, and Russia are added to the Priority Watch list along with India.

During the upcoming year, bilateral engagement will be particularly intense with the countries on the priority watch list.

Concerns and difficulties pertaining to India:

The levels of trademark counterfeiting continue to be problematic, and brand owners in the United States continue to complain about excessive delays in trademark opposition proceedings and poor examination quality, according to the report.

Efforts have been made by the Department for Promotion of Industry and Internal Trade (DPIIT) to expedite trademark application reviews to less than 30 days.

India should join the Singapore Treaty on the Law of Trademarks, which expands the subject matter that can be protected to include non-traditional marks like sensory, color, position, and movement marks. The United States of America is urging India to do so.

About the Special Report 301:

An annual review of the global state of IP protection and enforcement is the “Special 301” Report.

The report subtleties USTR’s discoveries of in excess of 100 exchanging accomplices of the Unified Territories of America(USA) after critical examination and upgraded commitment with partners.

Highlights:

The United States’ i.22 trading partners are on the Watch list and require bilateral attention in order to address underlying IP issues. Algeria, Barbados, Belarus, Bolivia, Brazil, Bulgaria, Canada, Colombia, Dominican Republic, Ecuador, Egypt, Guatemala, Mexico, Pakistan, Paraguay, Peru, Thailand, Trinidad & Tobago, Uzbekistan, Turkey, and Vietnam round out the 22 nations.

In 2023, the U.S. State Department will conduct a new Out-of-Cycle Review of Bulgaria to determine whether the country has made significant progress in this area.

Through increased collaboration and engagement with trading partners and other stakeholders, Out-of-Cycle Reviews provide an opportunity to address and resolve such issues.

Due to Russia’s subsequent, premeditated, and unprovoked invasion of Ukraine in February 2022, the Special 301 review has been suspended.

Banking and Finance

1. NSE Indices revises norms for Exclusion from index in case of Demerger

NSE Indices Limited, a subsidiary of the National Stock Exchange (NSE), has developed new guidelines for including a demerged company in each index.

A demerged company will only be included in the index under the new rules if the exchange holds a Special Pre-Open session (SPOS) for the spun-off entity.

The change will be appropriate to plan of course of action of all organizations including

demerger which might be endorsed by value investors of separate organizations

on or after April 30, 2023.

Central issues:

This change is pointed toward diminishing the continuous changes in list constituents

coming about because of corporate activities like demergers.

The difference between the demerged company’s closing price one day prior to the ex-date of the demerger and the price determined during SPOS will determine the constant price at which the spun-off business—the newly listed entity—will be included in the index.

After three days, the spun-off company or entity should be removed from the index. If, during the first two days, the spun-off company or entity hits the price band on both days, the exclusion date should be delayed by three more days.

The demerged company should be removed from the index one day before the ex-date by creating a suitable replacement if SPOS is not conducted by the exchange.

2. WYLD, World’s 1st Social Currency Payment Card, launched in Mumbai

WYLD, the first social currency payment card in the world, was launched in Mumbai, Maharashtra, by VISA Inc., an American multinational financial services company based in 

San Francisco (California, USA). Anyone with a “WYLD Score” of over 100 and more than 1,000 Instagram followers can use the app to apply for the WYLD payment card. Under the direction of British private equity firm Better Capital, WYLD has received USD 350,000 in pre-seed funding.

WYLD gives users the ability to make money from their social media followings and gives them up to 100 percent cashback on brand purchases.

For the beta-testing phase, which begins in April 2023, the platform is currently invite-only and available to the first 5,000 users on their waitlist of 10,000 potential customers.

Over 200 brands, including Boat, Lenskart, Purplle, and others, have partnered with the company in a variety of verticals, including restaurants, bars, events and concerts, fashion, beauty, footwear, and electronics.

WYLD is a Fintech and Martech mobile app and payment card that was founded in 2021. It is based on the idea that people who use nano and micro social media are the true disruptors of this market.