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Daily Current Affairs : 22-Nov-2019

Major Topics Covered :

  1. COMMERCIAL EXPLOITATION OF SPACE RESEARCH AND DEVELOPMENT

  2. MISSION INDRADHANUSH (IMI) 2.0

  3. THE CHIT FUNDS (AMENDMENT) BILL, 2019

  4. QUID PRO QUO

  5. HIMAYAT MISSION

  6. PATENT PROSECUTION HIGHWAY PROGRAMME

  7. CABINET APPROVES EXTENSION OF PHARMACEUTICALS PURCHASE POLICY

  8. STRATEGIC DISINVESTMENT

  9. PREPARATIONS FOR CHANDRAYAAN-3 MISSION


COMMERCIAL EXPLOITATION OF SPACE RESEARCH AND DEVELOPMENT

Part of GS-3 S&T


Why in news?

A new company by name, “New Space India Limited (NSIL)”, has been incorporated on 6thMarch 2019, as a wholly owned Government of India Undertaking / Central Public Sector Enterprise (CPSE), under the administrative control of Department of Space (DOS) to commercially exploit the research and development work of Indian Space Research Organisation (ISRO).


Highlights:

  • With the activity plan and the mandate set for NSIL, Indian industries are likely to see a major spur in their growth in the space sector.

  • This initiative would further enable scaling up the manufacturing and production base in Indian industries towards meeting the growing needs of Indian space programme and exploiting the opportunities available in the global space market. Mandate of NSIL includes viz.

  • Small Satellite technology transfer to industry wherein NSIL will obtain license from DOS/ISRO and sub-license it to industries;

  • Manufacture of Small Satellite Launch Vehicle (SSLV) in collaboration with Private Sector;

  • Productionisation of Polar Satellite Launch Vehicle (PSLV) through Indian Industry;

  • Productionisation and marketing of Space based services, including launch and application;

  • Transfer of technology developed by ISRO Centres and constituent institutions of DOS; and

  • Marketing of spin-off technologies and products, both in India and abroad and

  • Any other subject which Government of India deems fit.

  • All the involved technologies related to ISRO’s small satellite and its sub-systems that could be transferred to Indian industries for productionisation which eventually would cater to national demand as well as commercial needs of domestic and global market.

  • This activity is also likely to give rise to several spin-off technologies that could be marketed nationally and globally.

  • Through the sale of products related to small satellite, sub-system technology and the spin off products in domestic and global market, foreign exchange revenue will be generated.



Source: PIB

MISSION INDRADHANUSH (IMI) 2.0

Part of GS- Health


Why in news?

Union Minister of Health and Family Welfare Dr Harsh Vardhan reviewed the preparedness within States for roll out of Intensified Mission Indradhanush (IMI) 2.0 in States from 2nd December 2019.


Highlights:

  • Now the government is poised to launch Intensified Mission Indradhanush (IMI) 2.0 between December 2019 – March 2020 to deliver a program that is informed by the lessons learnt from the previous phases, and seeks to escalate efforts to achieve the goal of attaining a 90% national immunization coverage across India.

  • The program will be delivered in 272 districts of 27 states and 652 blocks of Uttar Pradesh and Bihar among hard-to-reach and tribal populations.

Several ministries, including the Ministry of Women and Child Development, Panchayati Raj, Ministry of Urban Development, Ministry of Youth Affairs, among others, will come together to make the mission a resounding success and support the central government in ensuring the benefits of vaccines reach the last mile. The salient features of IMI 2.0 are:

  • Immunization activity will be in four rounds over 7 working days excluding the RI days, Sundays and holidays.

  • Enhanced immunization session with flexible timing, mobile session and mobilization by other departments.

  • Enhanced focus on left outs, dropouts, and resistant families and hard to reach areas.

  • Focus on urban, underserved population and tribal areas.

  • Inter-ministerial and inter-departmental coordination.

  • Enhance political, administrative and financial commitment, through advocacy.

  • Intensified Mission Indradhanush immunization drive, consisting of 4 rounds of immunization will be conducted in the selected districts and urban cities between Dec 2019 - March 2020.


Source: PIB


THE CHIT FUNDS (AMENDMENT) BILL, 2019

Part of GS-3 Economy


Why in news?

The Chit Funds (Amendment) Bill, 2019 was introduced in Lok Sabha on August 5, 2019. The Bill seeks to amend the Chit Funds Act, 1982.


Highlights:

The 1982 Act regulates chit funds, and prohibits a fund from being created without the prior sanction of the state government.


Under a chit fund, people agree to pay a certain amount from time to time into a fund. Periodically, one of the subscribers is chosen by drawing a chit to receive the prize amount from the fund.


Names for a chit fund: The Act specifies various names which may be used to refer to a chit fund. These include chit, chit fund, and kuri. The Bill additionally inserts ‘fraternity fund’ and ‘rotating savings and credit institution’ to this list.


  • Substitution of terms: The Act defines certain terms in relation to chit funds. It defines:

  • ‘chit amount’ as the sum of subscriptions payable by all the subscribers of a chit;

  • ‘dividend’ as the share of the subscriber in the amount kept apart for running the chit; and

  • ‘prize amount’ as the difference between chit amount and the amount kept apart for running the chit.

  • The Bill changes the names of these terms to ‘gross chit amount’, ‘share of discount’ and ‘net chit amount’, respectively.

Presence of subscribers through video-conferencing: The Act specifies that a chit will be drawn in the presence of at least two subscribers. The Bill seeks to allow these subscribers to join via video-conferencing.


Foreman’s commission: Under the Act, the ‘foreman’ is responsible for managing the chit fund. He is entitled to a maximum commission of 5% of the chit amount. The Bill seeks to increase the commission to 7%. Further, the Bill allows the foreman a right to lien against the credit balance from subscribers.