Daily CURRENT AFFAIRS

Daily Current Affair - UPSC/KAS Exams - 29th April 2022

NEWS

This Scheme is an extensive drive to enable and facilitate MSMEs adopt Zero Defect Zero Effect (ZED) practices

THE SCHEMES

• Aims motivate and incentivize MSME for ZED Certification
• Through the ZED Certification, MSMEs can reduce wastages substantially, increase productivity, enhance environmental consciousness, save energy, optimally use natural resources, expand their markets, etc.

COMPONENTS OF THE SCHEME

• Under the Scheme, MSMEs will get subsidy as per the following structure, on the cost of ZED certification:
  • Micro Enterprises: 80%
  • Small Enterprises: 60%
  • Medium Enterprises: 50%
• There will be an additional subsidy of 10% for the MSMEs owned by Women/SC/ST Entrepreneurs OR MSMEs in NER/Himalayan/LWE/Island territories/aspirational districts.
• In addition to above, there will be an additional subsidy of 5% for MSMEs which are also a part of the SFURTI OR Micro & Small Enterprises – Cluster Development Programme (MSE-CDP) of the Ministry.
• Further, a limited purpose joining reward of Rs. 10,000/- will be offered to each MSME once they take the ZED Pledge.

NEWS

Unnat Bharat Abhiyan 2.0 (UBA 2.0) has successfully completed four years

UNNAT BHARAT ABHIYAN

• Launched in the year 2018
• Aim - bringing transformational changes in the processes of rural development processes
• Flagship programme that falls under the ambit of the Ministry of Education
• Link the country’s Higher Education Institutions with a set minimum of five villages so that these higher institutions can help in contributing to the social and economic betterment of the communities of these villages by using their knowledge base.
• National Coordinating Institute is the Indian Institute of Technology Delhi (IIT Delhi).
• Under UBA, two major domains for the holistic development of villages are covered which are:
  • human development
  • material (economic) development in an integrated manner.
• Engage the students and the faculties of the Higher Educational Institutions (HEIs) to understand the country’s rural realities
• Students and the faculties help in identifying the developmental issues that are being faced in the rural areas and coming up with sustainable solutions
• Existing innovative technologies are identified, selected, and customized for innovative solutions, as required by the people

NEWS

Recently, data from the Centre for Monitoring Indian Economy (CMIE) shows that India’s Labour Force Participation Rate (LFPR) has fallen to just 40% from an already low 47% in 2016

DETAILS

WHAT IS LFPR

• Percentage of the working-age (15 years or older) population that is asking for a job.
• Represents the “demand” for jobs in an economy
• Includes those who are employed and those who are unemployed

WHAT DID THE REPORT SAY

• In India, the LFPR is not only lower than in the rest of the world but also falling.
• In India, it has been sliding over the last 10 years and has shrunk from 47% in 2016 to just 40% as of December 2021.
• The main reason for India’s LFPR being low is the abysmally low level of female LFPR.
• As of December 2021, while the male LFPR was 67.4%, the female LFPR was as low as 9.4%
• Even if one sources data from the World Bank, India’s female labor force participation rate is around 25% when the global average is 47%.
• The reasons or low women LFPR is essentially about the working conditions — such as law and order, efficient public transportation, violence against women, societal norms etc. — being far from conducive for women to seek work.
• Further, lot of women in India are exclusively involved within their own homes (caring for their family)

NEWS

Shigella bacterial infection has been reported in Kerala’s Kozhikode after a gap of around a-year-and-a-half as three children from the district were found to have its symptoms

ABOUT

• Intestinal infection caused by a family of bacteria known as shigella
• Transmission - Contaminated food, water , infected surface
• Symptoms - diarrhoea, fever, stomach cramps which can last for seven days
• Treatment - It is generally done through antibiotics which can shorten the duration of the illness
• Susceptible Group - Children under age 10 are most likely to get shigella infection but it can occur at any age
• Precaution - Doctors advise frequently washing hands with soap and running water to avoid infections such as Shigella

NEWS

International Monetary Fund’s (IMF) released World Economic Outlook

WHAT DID THE REPORT SAY ON INDIA

• In 2023-24, India is estimated to grow at 6.9 %
• India’s current account deficit to widen to 3.1% in FY 2022-23
• India was “suffering like many other countries because of the Russia –Ukraine war and negative terms of trade shock "due to higher food and energy prices weighing down trade balances.
• Additionally, external demand was also softening as the rest of the world’s growth was impacted.

HOW IS THE WORLD PERFORMING

• The IMF has projected global growth at 3.6 % in 2022 and 2023
• A deceleration in global growth dampens India’s growth prospects especially because it would lead to lower demand for Indian exports.
• The downgrade largely reflects the war’s direct impacts on Russia and Ukraine and global spillovers.
• The recent lockdowns in key manufacturing and trading hubs such as Shenzhen and Shanghai (China) due to the resurgence of covid cases would likely compound supply disruptions elsewhere in the region and beyond.

WHAT ARE THE SUGGESTIONS GIVEN

• Monetary tightening by central banks to keep inflationary expectations in check amid global supply disruptions caused by the war in Ukraine.
• Monetary authorities should carefully monitor the pass-through of rising global prices to domestic inflation expectations to calibrate their responses.
• Backed targeted income support by governments to alleviate stress on household budgets in countries facing large price increases.

• The Delhi government is about to renovate the 14^th century monument Malcha Mahal. It was built in 1325 by the then Sultan Firoz Shah Tughlaq and was, for a long time, used as a hunting lodge.
• Every year on the 26th of April, World Intellectual Property Day is observed across the globe. This day is celebrated with the aim of raising awareness regarding the impact of how copyright, patents, designs, and trademarks affect our day-to-day life.