L5 P2 Speech-schemes v3
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Transcript of L5 P2 Speech-schemes v3
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[Fund #1] Nirbhaya Fund Launched in Budget 2013 [Rs.1000 crore]
For financing projects such as
CCTV @Public places GPS and emergency buttons in public buses, trains
Toll free numbers
Interim Budget 2014:
Nirbhaya fund made non-lapsable (permanent)
FM announced additional Rs.1000 crore. [=1k+1k=2k]
Criticism:
According to an RTI filed in Jan 2014, so far no money has bfrom Nirbhaya fund- on any scheme/project.
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#2: Innovation
India Inclusive Innovation Fund under MSME ministry
To promote grass rootinnovations- related to MSMEsector.
FM gave 100 crores in Interimbudget 2014
Venture Capital fund fo Under IFCI [Industrial F
Corporation of India]
To promote entreprenamong SC
Finance @concessiona
FM gave 200 crores in budget 2014
Funds
#3: VC for SC
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Summary: funds
Fund Launch Crore.
1. Nirbhaya: women security 2013 1000
2. India inclusive innovation:
grassroot/MSME
2014 100
3. Venture capital fund for SC (IFCI) 2014 200
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Schemes1. Flexibility to States2. HRD related schemes
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National Skill DevelopmentCorporation
Ownership: 51% private ; 49%FM
Target: give skill training to 150million Indians by 2022.
Scheme: National SkillCertification and MonetaryReward Scheme
(1k) 2013 + (1k) 2014
(Related) UDAAN
By Home ministry To give employment to
J&K
NSDC trains the youth,with private company t
them recruited. Problem: 6-15k pm sal
Hardly any takers.
[HRD]#1: NSDC
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FM Pranab Mukherjee 2009
Under: HRD ministry
Eligibility: Student: professional study parents with less than 4.5 lakh per
annum
Education loan after 1 April
2009: government pays theinterest during study period andlittle beyond
Problem: students who tookloans before 1st Apr 2009
Interim budget fixes the
Applicable to: all educataken up to 31.3.2009 outstanding on 31.12.2Government will pay tinterest.
but the borrower after
Impact: 9 lakh student Subsidy Expenditure: R
Crore.
Implemented via Cana
[HRD]#2: Central Scheme for InterestSubsidy CSIS
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(restructured) Integrated childdevelopment scheme (ICDS): will
be implemented in all districtsby first April 2014
National Agro-forestry policy2014 : employment generation.
Helping tribals to Market minor
forest produce.
SC Sub-Plan 48
Tribal Sub-Plan 30
Child Budget 80
Gender Budget 97
Schemes: plan Expenditure 5.5 lakhCrores
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Upto 2012
140+ centrally sponsoredschemes
100%, 90:10%, 80:20%, 75:25%etc. [State plans financeproblem.]
money given to implementingagencies
GoM, these schemes strinto 66 schemes.
Now: money directly to consolidated fund.
Interim Budget 2014:
Funds under these progwill be released as Centrassistance to State plangiving States greater autresponsibility.
Schemes vs States
2013
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Banking/Finance related
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Banking: Public sector banks
2013 2014
opened ~5k branches, with almost
one ATM per branch
Their NPA will reduce as econom
starts to improve
Bharatiya Mahila bank started in
November 2013
Give 7lakh crore as agri loans. Target: 8 lakh crores in agri loan
Interest subvention scheme (2%) Continued.
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Finance sector reforms initiatives1. To create one record for all financial assets of every individ
2. ADR/GDR scheme
3. rupee-denominated corporate bond market4. Help international investors to invest in Indian bonds.
5. Commodity & Currency Derivatives Market
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Investment/ Infrastructure/
related
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Investment / infra.[Infra] File clearance
Government created Cabinet Committee on Investment and the Project Monitorin(under PMO)
by the end of January, 2014, clearance completing ~300 projects worth >6 lakh cror
[Infra] Communication related:
IT modernization of Postal department (~5k crore), will be operational by 2015 in al(155,000)
community radio stations: 100 crores
[Infra] Nuke Energy
Kudankulam Nuclear Power Plant Unit I started generating electricity (TN)
Kalpakkam powerplant: fast breeder reactor work near completion. (TN)
Seven nuclear power reactors are under construction
[Infra] Solar Energy
National Solar Mission entered the second phase on 1.4.2013.
In 2014m we'll initiate four ultra mega solar power projects (each ~500MW)
M f i
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ManufacturingNational Manufacturing Policy
Share of MFG sector in GDP=25%
Create 100 million jobs in decade (2022)
[Infra] MFG: National Investment and Manufacturing Zones (NIM ~5000 ht. uncultivated land.
Industrial township with all the necessary infrastructure.
8 NIMZ, around Delhi Mumbai Industrial Corridor (DMIC)
e.g. Ahmedabad-Dholera investment Region, Gujarat
5 more NIMZs outside DMIC Similar to DMIC, three more corridors (work under progress)
1. Chennai and Bengaluru
2. Bengaluru and Mumbai
3. Amritsar and Kolkata
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Launched in 2013
By Khadi and Village IndustriesCommission (KVIC) [statutory]
Under Ministry of MSME Micro,Small and Medium Enterprises
Mark assures mark will purehand-woven, hand spun khadi.
[MFG] Khadi Mark
[I f /MFG] Mi
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[Infra/MFG] Misc. [Infra]: Adopt PPP model for infra. Development
[MFG]:
Est. 2014: mfg. export will be ~325 billion $ focus on export.
All taxes, Central and State, that go into an exported product shouwaived or rebated.
[FDI]
FDI policy was liberalized to attract larger investments in telecomm
pharmaceuticals, civil aviation, power trading exchanges and multretail.
Proposal for FDI in railways
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Bills/Act relatedRefer Prsindia.org to salient features
o y s men one ur ng u g
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o y s men one ur ng u gspeechName Context in the speech
Financial Sector
Legislative ReformsCommission
We need to atleast implement some of its
recommendations that donot requirepassing/amending any laws.
Forest rights act >12 lakh land titles given to them
Land acquisition Act Notified in 2014, has replaced the colonial law
National Food securityact
Has been passed. Will give food security to 6juntaa.
Companies Act Replaced old act of 1956
PFRDA Act Passed. Established Statutory regulator.
o y s men one ur ng u g
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o y s men one ur ng u gspeechPFRDA Act Passed. Established Statutory regulator.
Insurance Laws
amendment
Not passed
Securities Law Not passed
Public Debt
Management Agency
Bill
Not passed. But until then, government will setup a non-sta
PDMA to start work in 2014-15.
Forward Contracts
(Regulation) Act
Need to amend it, so NSEL-like crisis doesn't happen again.
Direct tax code and
GST
Needs to be passed. FM will release discussion paper on his
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Health/Science tech relate
[Healthcare] (GS3) Indigenization of
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JE vaccine
Viral disease, spread viamosquitoes
New vaccine JENVAC by Indianscientists .
jointly developed by:
1. National Institute of Virology(Pune)
2. Indian Council of MedicalResearch (ICMR)
3. Bharat Biotech Ltd.
For Thalassamia (genedisease)
Till now imported kits
But now desi kits @Rs
Developed by Indian Council for Med
research (ICMR)
National Institute ofImmunohaematolgoy
[Healthcare] (GS3) Indigenization oftechnology
Reverse Dot Blot Hybri(RDB) Kit
[Healthcare] (GS3) Indigenization of
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AV Magnivisualizer
for detection of cervical cancerin women.
by Indian Council of MedicalResearch (ICMR)
Foreign device 8-10 lakh
This one costs just 10k
Runs on battery- good for ruralareas
used even by healthcare workerswith basic training.
Mars orbiter mission, ^available on Mrunal.or
[Healthcare] (GS3) Indigenization oftechnology
Space tech
Misc from Interim Budget speech
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Misc. from Interim Budget speech Global Risks 2014 report
Released by World economic forum
To show that global risk are interconnected
31 risks given. Top ten are
1. fiscal crisis
2. structurally high unemployment or underemployment
3. water crisis
4. income disparity
5. climate change
6. extreme weather events (Floods, storms, fires)
7. governance failure8. food crisis
9. failure of a major financial institution
10. political and social instability.
These are common to all Emerging market economies.
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GDP growth in (%) 2011 2013
World ~4 3
Eurozone -- 0.2%
China 9.3 7.7
India 7.5 4.9 (CSO)
Blackmoney/Offshore
Investigation started si
But so far ~70 cases re
Misc. from Interim Budget speech
Essay
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Essay[Statements from Interim budget speech]
1. India was the first non-Western countryand also the ficountry in the worldto commit itself to a resolutely demway of governance.
2. Democracy acknowledges diversity, respects dissent, encodebate, and decides through elected representatives.
3. Neither populism nor majoritarianism nor individualism isalternative way of governance.
4. Not the spear but sceptre swayed with equity Alone givesvictory.