Daily Current Affairs 15/07/2021
Why in News
- Prime Minister Narenda Modi has reconstituted the Cabinet Committees after the Union Cabinet expansion.
About Cabinet Committee:
- Cabinet Committee on Political Affairs
- Cabinet Committee on Employment and Skill Development
- Cabinet Committee on Economic Affairs
- Cabinet Committee on Parliamentary Affairs
- Cabinet Committee on Investment and Growth
- Cabinet Committee on Security
- Cabinet Committee on Accommodation
- Cabinet Committee on Appointments
- All committees except Cabinet Committee on Accommodation and Cabinet Committee on Parliamentary Affairs are headed by the Prime Minister.
- They are not mentioned in the Constitution. But, the Rules of Business provide for their establishment.
- The executive works under the Government of India (GoI) Transaction of Business Rules, 1961.
- These Business Rules emerge from Article 77(3) of the Constitution of India.
- Cabinet Committees are basically sub-committees within the Union Cabinet to look at specific remits and deliberate on various issues including security, economy, and even deciding on dates for Parliament sessions.
Group of Ministers (GoMs):
- Apart from the cabinet committees, several Group of Ministers (GoMs) have been constituted to look into different issues.
- These are ad hoc bodies that may have been empowered to take decisions on behalf of the cabinet or to make recommendations.
Source: The Hindu
BHIM–UPI in Bhutan
Why in News
- Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman, along with her counterpart, the Hon’ble Finance Minister of Bhutan, Mr Lyonpo Namgay Tshering, jointly launched BHIM–UPI in Bhutan.
- National Payment Corporation of India’s arm, NPCI International Payments Ltd. (NIPL) has partnered with the Royal Monetary Authority (RMA) of Bhutan for implementing BHIM-UPI in Bhutan.
- Bhutan is the first country to adopt UPI standards for its QR deployment, and the first country in our immediate neighbourhood to accept mobile based payments through the BHIM App.
- With the launch of BHIM-UPI in Bhutan, the payment infrastructures of the two countries are seamlessly connected and will benefit a large number of tourists and businessmen from India who travel to Bhutan each year.
- BHIM-UPI is one of the brightest spot and an achievement for digital transactions in India during the time of COVID-19 pandemic with more than 100 million UPI QRs have been created in last 5 years and BHIM UPI in 2020-21 has processed 22 billion transactions worth value Rs 41 lakh crore.
- It is an Indian mobile payment App developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface.
About Unified Payments Interface (UPI):
- It is an instant real-time payment system, allowing users to transfer money on a real-time basis, across multiple bank accounts.
Note: India and Bhutan have already enabled inter-operability in acceptance of RuPay cards in each other’s countries in two phases – acceptance of RuPay cards issued in India at Bhutan based terminals in the first phase, and vice versa in the second phase.
- It is an Indian multinational financial services and payment service system, conceived and launched by the National Payments Corporation of India (NPCI) on 26 March 2012.
About National Payments Corporation of India (NPCI):
- It is an umbrella organisation for operating retail payments and settlement systems under the ownership of RBI in India.
- Founded in December 2008, the NPCI is a not-for-profit organisation registered under Section 8 of the Companies Act 2013.
Review meeting for making India Aatmanirbhar in Fertlisers
Why in News
- Union Minister for Chemicals and Fertilisers Mansukh Mandaviya reviewed the initiatives of Department of Fertilizers for Making India Aatmanirbhar in Fertlisers.
- The Government is planning to liberalise Market Development Assistance Policy to promote the use of alternative fertilizers.
About Market Development Assistance (MDA) Policy:
- Market Development Assistance (MDA) Policy was earlier limited to city compost only.
- There was a need to expand this policy by incorporating organic waste like Biogas, organic compost of rural areas, Green Manure, solid/liquid slurry, etc.
- This expansion will fully complement the Swachh Bharat Abhiyan (SBA) of the Government of India.
Fertilizer Consumption in India:
- India’s fertiliser consumption in FY20 was about 61 million tonnes — of which 55% was urea—and is estimated to have increased by 5 million tonnes in FY21.
Government Initiatives and Schemes:
- New Investment Policy- 2012
- New Urea Policy 2015
- Neem Coating of Urea
- Policy on Promotion of City Compost
- The Nutrient Based Subsidy Scheme
- Use of Space Technology in Fertilizer Sector
Vietnam appoints first Honorary Consul General in India
Why in News
- Vietnam has appointed S. Srinivasa Murthy based in Bengaluru as Honorary Consul General of Vietnam for Karnataka.
- He is the first Honorary Consul General of Vietnam from India and the 19th across the world.
- The appointment is for a period of three years.
- The Honorary Consul General will promote trade, economics, investment, tourism, educational and cultural cooperation between Vietnam and the State of Karnataka.
- Industrialist Mr. Murthy is the owner and Managing partner of N. K. Subbiah Setty & Sons which is into manufacture of incense sticks since 1932.
- Both the countries agreed to have various commemorative activities in the year 2022, to mark the 50th anniversary of the establishment of diplomatic relations between the two countries.
- Vietnam and India have agreed to strengthen their strategic partnership in line with India’s Indo-Pacific Oceans Initiative and the ASEAN’s Outlook on Indo-Pacific.
- Vietnam and India closely cooperate in various regional forums such as ASEAN, East Asia Summit, Mekong Ganga Cooperation, besides United Nations and World Trade Organisation.
- ASEAN- India Free Trade Agreement
- Science and Technology Cooperation
- India-Vietnam Comprehensive Strategic Partnership
- Military exercises: VINBAX, IN-VPN BILAT
Facts about Vietnam:
- Capital: Hanoi
- Currency: Vietnamese dong
- President: Nguyen Xuan Phuc
- Prime Minister: Pham Minh Chinh
Source: The Hindu
Italy wins UEFA Euro 2020
- Italy won the European Football Championship in the Wembley Stadium in London.
- Italy defeated England in the final.
- This is Italy's second European Championship title. First one was in 1968.
Source: Indian Express
Yashpal Sharma, India’s 1983 World Cup winner, passes away
- Former India cricketer and a member of 1983 World Cup-winning squad Yashpal Sharma passed away.
- Yashpal Sharma was an important member of Kapil Dev's side that won the World Cup in England in 1983.
- A middle order batsman, Sharma represented India in 37 Test matches and 42 one-day internationals.
Source: The Hindu
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