Jharkhand gets 1,753 km road under Central scheme
The Central Government has sanctioned construction of as many as 233 roads across Jharkhand worth Rs 1396 crore in order to improve connectivity in the naxal hit areas. Under the scheme a total of 1753.77 km road will be constructed other than 71 bridges. The rural development is likely to execute the plan by floating tenders. The road infrastructure will be developed in the aspirational districts of Jharkhand.
The Union Ministry of Rural Development took this decision in the light of a proposal made by the Jharkhand government. The proposal of Jharkhand was approved at a meeting of the empowered committee chaired by Union Rural Development Secretary NN Sinha in Delhi.
These roads will be constructed under the Prime Minister’s Village Road Scheme. According Jharkhand rural development department 979.350 km of rural roads will be constructed under PMGCI Phase-3 which will cost Rs 630.65 crore. Similarly 774.42 km of roads will be constructed in the Naxal hit areas under the Prime Minister’s Village Road Scheme to improve connectivity. The Narendra Modi government has given approval for construction of roads through RCPLWE scheme. Under this, 125 roads and 71 bridges will be constructed worth Rs 765.42 crore.
Under the scheme schools, anganwadi centers, health centers and roads connecting to district headquarters will be constructed on the priority basis. Besides, roads will be co constructed in hard to reach areas for the development of such undeveloped areas. The project will be centrally monitored.
EU’s first Green Bond issuance
Huge demand was there as Brussels kicked off its efforts for becoming world’s biggest issuer of sustainable debt.
Euro 12bn sale of 15-year debt attracted about Euro 135bn of orders.
This was the largest green bond deal, eclipsing the UK’s £10bn debut in the month of September.
This issue of recent bond is the first of an expected €250bn of “European Commission green bonds”. It makes about a third of the EU’s €800bn Covid-19 recovery fund.
India at 3rd position in RE Investment attractiveness index
Ernst & Young’s (EY) Renewable Energy (RE) Country Attractiveness Index was recently published in which India has been ranked at 3rd position.
RE Investment attractive index ranks the world’s top 40 nations with respect to attractiveness of their deployment opportunities and renewable energy
In the index, India retains its third position while US retains the top position.
China has been ranked at second position.
As per report, conditions are ripe for rapid growth across renewables generation. The major challenge will be inadequate grid investments.
According to Index, corporate power purchase agreements were the key driver of clean energy growth in the light that, environment, social, and governance measures are becoming top agenda for companies and investors.
Exercise Yudh Abhyas 2021
India and the United States are set to start a 15-day mega military exercise in Alaska from October 15, 2021 in a bid to further deepen bilateral military cooperation between both the countries.
Year 2021 will mark the 17th edition of the exercise “Yudh Abhyas”.
Exercise will be conducted at Joint Base Elmendorf Richardson in Alaska.
It will commence from October 15 and end on 29.
At the exercise, the Indian contingent will comprise of 350 personnel from an infantry battalion group of Indian Army.
The previous (16th) edition of the exercise took place in February 2021 in Mahajan Field Firing Ranges in Bikaner.
India to pilot 1000 MWh Battery Energy Storage System (BESS)
Central Government has given its approval to invite the expression of interest for installation of pilot 1000 MWh Battery Energy Storage System (BESS) project.
This pilot project is the joint effort of “Ministry of New & Renewable energy” and Ministry of Power.
Both the ministries have been working on this in order to provide a road map for installation of energy storage system in India.
The Battery Energy Storage System (BESS) will be set in a bid to support the ambitious goal of achieving 450 GW renewable energy target by the Ministry of New & renewable energy by 2030.
Govt launches ‘One Health Consortium
The Department of Biotechnology launched a ‘One Health’ consortium on October 14, 2021 in virtual mode.
One Health Consortium has been empowered to carry out surveillance of important viral, bacterial, & parasitic infections of zoonotic and transboundary pathogens in India.
This project will also look into use of existing diagnostic tests and development of additional methodologies to conduct surveillance and understand the spread of emerging diseases.
NSO Data on Retail Inflation and IIP
As per IMF, India’s retail inflation relaxed in September 2021, reducing to a five-month low. This was because of favourable comparison with year 2020 and moderating food prices that offset an increase in the cost of crude oil & fuel.
Consumer price inflation decreased sharply to 4.35% in September 2021 as compared to 5.3% in August. This was the third consecutive month within the tolerance band of Reserve Bank of India (RBI).
In September 2020, Consumer Price Index-based (CPI) inflation was 7.27%.
According to NSO Data, inflation in food basket relaxed to 0.68% in September 2021, significantly decreased by 3.11% as compared to August.
Government has tasked the Reserve Bank of India (RBI) to keep CPI-based inflation at 4%, with a tolerance band of 2% on both the sided. RBI usually factors in CPI-based inflation while launching its bi-monthly monetary policy.
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