Daily Current Affairs for UPSC Civil Services Exam – 06 August 2021

Daily Current Affairs for UPSC Civil Services Exam – 06 August 2021

In Today’s News:

  1. Earth Observation Satellite to be launched.
  2. Gamma Irradiation Technology
  3. USTTAD
  4. ECLGS scheme.

1. Earth Observation Satellite to be launched

News Summary

Earth Observation Satellite has been planned to launch on August 12, 2021.

Prelims GS – Science & Technology

EOS-03:
  • Geosynchronous Satellite Launch Vehicle-F10 (GSLV-F10) will launch Earth Observation Satellite, EOS-03 from the Second Launch Pad of Satish Dhawan Space Centre (SDSC) SHAR, Sriharikota.
  • EOS-03 is a state-of-the-art agile Earth observation satellite that will be placed in a Geosynchronous Transfer Orbit by GSLV-F10.
  • Subsequently, the satellite will reach the final geostationary orbit using its onboard propulsion system.
  • A 4 meter diameter Ogive-shaped payload fairing is being flown for the first time in this GSLV flight. This is the fourteenth flight of GSLV.
  • EOS-03 will help in real-time monitoring of natural disasters, water bodies, crops, forest cover changes and is also capable of capturing the whole country.

Click here to view the official website.

2. Gamma Irradiation Technology

News Summary

Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr. Jitendra Singh said Gamma irradiation technology for food preservation has already been shared with private players.

Prelims GS – Science & Technology

Gamma Irradiation Technology:
  • Gamma Irradiation is the process of exposing various products to ionizing gamma rays (similar to UV and X-rays) in a highly controlled manner for a specific goal, such as elimination of the virus, bacteria, pathogens, insects, and other undesirable organisms, etc.
  • The gamma rays, which are a form of electromagnetic radiation of very short wavelengths, act as a source of ionizing energy that destroys bacteria and pests.
  • The isotope Cobalt-60 is the most common source of gamma rays for irradiation processing
  • Gamma irradiation technology is used for
    • inhibition of sprouting in bulbs and tubers,
    • insect disinfestation of cereals, pulses, and grains,
    • microbial decontamination (hygienization) of dry spices etc. for preservation/shelf life extension by applying pre-determined radiation doses.
  • The setting of food irradiation facilities in the PPP mode certainly mitigates the huge quantum of post-harvest and storage losses of agricultural produce and food that results in national savings.

Click here to view the Courtesy: official PIB release and click here to view the Courtesy website to know more about Gamma Irradiation.

3. USTTAD

News Summary

Information about Schemes for the Upliftment of Minorities like USTTAD, Padho Pardesh, Nai Udaan, etc is given by the  Union Minister for Minority Affairs  Shri Mukhtar Abbas Naqvi in a written reply in the Lok Sabha.

Click here to view the Courtesy: PIB release.

Prelims GS – Governance

USTTAD:
  • “USTTAD” scheme refers to Upgrading the Skills and Training in Traditional Arts/ Crafts for Development.
  • USTTAD scheme aims to preserve the heritage of traditional arts and crafts of minority communities and build the capacity of traditional craftspersons and artisans and establish linkages of traditional skills with the global market.
  • USTTAD scheme comes under the Ministry of Minority Affairs.
Components of USTTAD:

The scheme will have the following programs:

  • Up-gradation of Skills and Training in Traditional Arts/Crafts through Institutions
  • USTTAD Fellowship for Research and Development.
  • Support to Craft museum for curating traditional arts/ crafts.
  • Support for minority craftsmen/artisans through Hunar Haats for marketing their products.

Click here to know more about USTTAD.

4. ECLGS scheme

News Summary

Information about the ECLGS scheme was given by Union Minister for Micro, Small, and Medium Enterprises, Shri Narayan Rane in a written reply in Lok Sabha.

Click here to view the Courtesy: PIB release.

Prelims GS – Economic Development

ECLGS scheme:
  • ECLGS refers to Emergency Credit Line Guarantee Scheme.
  • ECLGS was announced as part of the Aatma Nirbhar Bharat Package (ANBP) to provide fully guaranteed and collateral-free additional credit to MSMEs, business enterprises, individual loans for business purposes, and MUDRA borrowers, to the extent of 20 percent of their credit outstanding as on 29.2.2020.
  • The Scheme aims at mitigating the economic distress being faced by MSMEs by providing them additional funding of up to Rs. 3 lakh crore in the form of a fully Guaranteed Emergency Credit Line(GECL).
  • The main objective of the Scheme is to provide an incentive to Member Lending Institutions (MLIs), i.e., Banks, Financial Institutions (FIs), and Non-Banking Financial Companies (NBFCs) to increase access to, and enable the availability of additional funding facilities to MSME borrowers, in view of the economic distress caused by the COVID-19 crisis, by providing them 100 percent guarantee for any losses suffered by them due to non-repayment of the GECL funding by borrowers.
  • Borrowers with credit outstanding up to Rs. 50 crore as of 29.2.2020, and with an annual turnover of up to Rs. 250 crore are eligible under the Scheme.
  • Interest rates under the Scheme are capped at 9.25 percent for Banks and FIs, and 14 percent for NBFCs.
  • The tenor of loans provided under the Scheme is four years, including a moratorium of one year on principal repayment.
  • ECLGS is under the operational domain of the Ministry of Finance, Department of Financial Services (DFS).
  • The overall ceiling initially announced for ECLGS was Rs 3 lakh crore which was subsequently enhanced to Rs 4.5 lakh crore.

Click here to view more about ECLGS on the official PIB release.

Mini Insights

Mains GS3 – Economic Development

ECLGS 4.0 scheme features:
  • ECLGS 4.0: 100% guarantee cover to loans up to Rs.2 crore to hospitals/nursing homes/clinics/medical colleges for setting up on-site oxygen generation plants, interest rate capped at 7.5%;
  • Borrowers who are eligible for restructuring as per RBI guidelines of May 05, 2021, and had availed loans under ECLGS 1.0 of overall tenure of four years comprising of  repayment of interest only during the first 12 months with repayment of principal and interest in 36 months thereafter will now be able to avail a tenure of five years for their ECLGS loan i.e. repayment of interest only for the first 24 months with repayment of principal and interest in 36 months thereafter;
  • Additional ECLGS assistance of upto 10% of the outstanding as of February 29, 2020, to borrowers covered under ECLGS 1.0, in tandem with restructuring as per RBI guidelines of May 05, 2021;
  • The current ceiling of Rs. 500 Cr. of loan outstanding for eligibility under ECLGS 3.0 to be removed, subject to maximum additional ECLGS assistance to each borrower has limited to 40% or Rs.200 crore, whichever is lower;
  • Civil Aviation sector to be eligible under ECLGS 3.0
  • Validity of ECLGS extended to 30.09.2021 or till guarantees for an amount of Rs.3 lakh crore is issued. Disbursement under the scheme permitted up to31.12.2021.
Benefits of ECLGS expansion:
  • The modifications in ECLGS would enhance the utility and impact of ECLGS by providing additional support to MSMEs, safeguarding livelihoods, and helping in the seamless resumption of business activity.
  • These changes will further facilitate the flow of institutional credit at reasonable terms.

Click here to view the Courtesy: Official PIB release.

 

 

 

 

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