Recently, the Union Cabinet approved the Production-Linked Incentive (PLI) scheme (Central Sector Scheme) for manufacturing Speciality Steel (SS) with a budgetary outlay of Rs 6,322 crore over a period of five years from 2023-24. Speciality Steel It is value-added steel, which is made by processing normal finished steel. It is done by converting normal finished steel into high value-added …

Special Economic Zones (SEZ) have touched new heights in terms of performance in Exports, Investment and Employment in the last three years. Important points: An SEZ is a territory within a country that is typically duty-free (Fiscal Concession) and has different business and commercial laws chiefly to encourage investment and create employment. SEZs are created also …

Recently, the Supreme Court of India held that in any election, be it to Parliament or State legislature, the maintenance of secrecy of voting is “a must”. It reiterated its 2013 judgement in the People’s Union for Civil Liberties case. Important points: Part of Fundamental Right: The secrecy is a part of the fundamental right of freedom of expression. …

Recently, the US State Department released a report titled ‘2021 Investment Climate Statements: India’. The report lauded the structural economic reforms carried by the Government of India, in the wake of economic slowdown and Covid-19 pandemic. However, the report asserts that India remains a challenging place to do business. Earlier, the UK India Business Council (UKIBC) emphasized that …

Recently, the Assam Cabinet announced that Gaon Buras, village-level functionaries of the district administration, will be called ‘Gaon Pradhans’. The government has reasoned that a number of young men (and women) become Gaon Buras, and thus, the word ‘Bura’ (meaning old in Assamese) is no longer appropriate. Important  points: Gaon Buras are the village …

Recently, the city of Liverpool, England has been removed from UNESCO’s (United Nations Educational, Scientific and Cultural Organization) list of world heritage sites. Earlier six Indian places were added to the tentative list of UNESCO’s world heritage sites. Important  points: The port city was included in the prestigious list for its architectural beauty and in …

The Reserve Bank of India (RBI) is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future. A high-level inter-ministerial committee set up by the Finance Ministry had recommended Central Bank Digital Currency (CBDC) with changes in the legal …

Recently, the US has approved the Germany-Russia Nord Stream 2 Pipeline (NS2P) project – which significantly increases Europe’s energy dependence on Russia. The US had previously imposed sanctions to prevent the completion of this gas pipeline between Russia and Germany. Important  points: This is a 1,200-km pipeline that runs from Ust-Luga in Russia to Greifswald …

Recently, the scientists for the first time have decoded the reference-grade whole genome sequence of a highly salt-tolerant and salt-secreting mangrove species, Avicennia marina. This study was led by the Department of Biotechnology (DBT)-Institute of Life Sciences, Bhubaneswar. Important  points: It is one of the most prominent mangroves species found in all mangrove formations in …

Recently, the Union Minister of Law and Justice informed the Rajya Sabha regarding the appointment of judges in various high courts. The minister pointed out that filling up vacancies in the higher judiciary is a continuous, integrated and collaborative process between the Executive and the Judiciary. It requires consultation and approval from Constitutional authorities at the State as well as Central level. Important  points: Article 217 of the …