Jharkhand decides to pull out of tripartite agreement on power with Centre, RBI
The Jharkhand government on Wednesday decided to exit a tripartite agreement on power with the Centre and the Reserve Bank of India (RBI).
The cabinet decided to pull out of the agreement as it is not in the best interest of the state, he said.
The Centre’s decisions like these affect the federal structure of the country, Soren said.
The Centre had on October 16 instructed the RBI to deduct the first instalment of Rs 1,417.5 crores from Jharkhand’s account.
As per the tripartite agreement, the Centre has the power to auto-debit the dues of a state to central power discoms from the state’s RBI account.
Pakistan Successfully Test Fires Indigenously Developed Rocket System
Pakistan successfully conducted the test-flight of an indigenously developed Guided Multi Launch Rocket System, capable of precisely delivering conventional warheads.
Fatah-1 weapon system can hit targets up to a range of 140 km.
Last February, amid heightened tensions with India, Islamabad carried out a successful test of its Ra’ad-II cruise missile.
A month earlier, Pakistan tested the Ghaznavi ballistic missile, which has a range of 290 kilometers (180 miles), just days after India tested its submarine-launched K-4 ballistic missile.
Relations between the nuclear-armed neighbors have worsened since New Delhi revoked Jammu and Kashmir’s semi-autonomous status and imposed a lockdown in August 2019.
Trade Policy Review of India at WTO
India’s 7th national trading policy Review (TPR) began in January 2021 at the planet Trade Organization in Geneva.
Trade Policy Review (TPR) may be a crucial mechanism under the WTO’s monitoring function, which involves a comprehensive referee of the national trade policies of member countries. The last TPR in India occurred in 2015.
India’s Commerce Secretary stated that since the last TPR, the GOI has taken sort of measures to reform and transform the entire economic ecosystem to satisfy the socio-economic demands of all Indians.
The main policy changes include the introduction of the GST, the Insolvency and Bankruptcy code, labor reforms, and investor-friendly Foreign Direct Investment policies.
Various national programmes include “Made in India”, “Digital India”, “Startup India and Skill India”.
India has improved within the planet Bank’s Doing Business ranking from 142 to 63 in 2015 – 2019.
In 2019-20, India received the absolute best ever FDI inflow of USD 74.39 billion.
MoC Between India And Japan
The Cabinet approves the signing of a Memorandum of Cooperation between India and Japan on Partnership in “Specified Skilled Worker”.
The memorandum of cooperation will provide an institutional mechanism for the partnership and cooperation between the two countries to dispatch and accept skilled Indian workers with specific skills and Japanese tests to work in 14 specific sectors in Japan.
These Indian workers would be given a new status of residence of “Specified Skilled Worker” by the Japan Government.
The Memorandum of Cooperation (MOC) will strengthen people-to-people contacts, foster mobility of workers and skilled professionals from India to Japan.
Solidarity and Stability Deal – Gulf Countries
The Gulf countries signed the “Solidarity and Stability” deal at the 41st Gulf Cooperation Council (GCC) Summit held in Al Ula, Saudi Arabia.
In June 2017, Saudi Arabia and allies, the United Arab Emirates (UAE), Bahrain & Egypt severed ties with Qatar and imposed naval, air and land blockades on the country. Qatar is accused of being very close to Iran and supporting Islamic radical groups. The country was imagined to support and fund terror through its support of Iran and the Muslim Brotherhood (a Sunni Islamist political group outlawed by both Saudi Arabia and therefore the UAE).
The Gulf Cooperation Council member states signed a deal in Al Ula, Saudi Arabia, to remove all sanctions on Qatar and reopen its land, sea and air borders to Qatar. Oman, Kuwait, Bahrain, Qatar, Saudi Arabia and the UAE are members of the Gulf Cooperation Council.
To unite efforts to promote in the Gulf region and respond to the surrounding challenges, especially the threat posed by the Iranian regime’s nuclear and ballistic missile program and its plans for sabotage and destruction.
16th Pravasi Bharatiya Divas Convention will be organised on 9th January
The 16th Pravasi Bharatiya Divas Convention is being organized on 9th January in virtual format in the backdrop of COVID pandemic.
The theme of the Convention this year is “Contributing to Atma Nirbhar Bharat”.
The Pravasi Bharatiya Divas Convention will be inaugurated by Prime Minister Narendra Modi and will feature a keynote address by the Chief Guest Chandrikapersad Santokhi, President of Suriname.
Sulfur Dioxide Emission Norms Delayed
The Ministry of Power has proposed to postpone the deadline for coal-fired power plants to adopt the new emission standards, stating that an ” an unworkable time schedule” will burden utilities and cause a rise in power tariffs.
India initially set a 2017 deadline for thermal power plants to comply with emission standards for installing Flue Gas Desulfurization (FGD) devices to reduce toxic sulfur dioxide emissions. This was later changed to varying deadlines for various regions, ending in 2022.
Removal of sulphur dioxide is named as Flue-gas Desulphurization (FGD). Seek to remove gaseous pollutants viz. SO2 generated from exhaust flue gas generated in furnaces, boilers and other industrial processes due to thermal processing, treatment and combustion.
Bharat Griha Raksha Policy Was Introduced
The policy introduced is to replace the Standard Fire and Special Perils Policies. It has 3 key components which include Bharat Laghu Udyam Suraksha, Bharat Griha Raksha, and Bharat Sookshma Udyam Suraksha.
According to the Bharat Griha Raksha policy, IRDAI (Insurance Regulatory Development Authority of India) will introduce a standard housing insurance policy that will cover fire risks and other related hazards.
The policy will cover various hazards such as Natural catastrophs like cyclone, storm, tsunami, Hurricane, floods, earthquake, landslide, fires, bushfires, impact damages of any kind, strike, riot, acts of terrorism, malicious damage of, overflowing of water tanks, pipe leakage from automatic sprinkler installations, bursting of water tanks and tested within 7 days after the occurrence.