Government Schemes Current Affairs

Enter Your Email Address To Subscribe Current Affairs Daily Digest, Daily Quiz and other updates on Current Affairs:

Cabinet approves of proposal to establish a Fund of Fund for Start-ups

The Union Cabinet has approved proposals to tweak Fund of Funds of Start-ups (FFS) rules to enable greater flow of resources. FFS was established in June 2016 with a corpus of Rs. 1,000 crores.

The proposals approved are
  • Alternate Investment Funds (AIFs) supported by FFS shall invest at least twice the amount of contribution received from FFS in Start-ups.
  • Further, if the amount committed for a Start-up in whole has not been released before a Start-up ceases to be so, the balance funding can continue thereafter.
  • The operating expenses for carrying out due diligence, legal and technical appraisal, convening meeting of Venture Capital Investment Committee, etc. will be met out of the FFS.
  • These expenses will be to an extent of 0.50% of the commitments made to AIFs and outstanding. This will be debited to the fund at the beginning of each half year i.e. April 1 and October 1.
Background
  • The Union Cabinet in June 2016 had approved the proposal to establish a Fund of Funds for Start-ups (FFS) with a total corpus of Rs.10000 crore.
  • It was approved with contribution spread over the 14th & 15th Finance Commission (FC) cycles based on progress of implementation and availability of funds.
  • It was decided that the FFS shall contribute to the corpus of AIFs for investing in equity and equity linked instruments of various start-ups at early stage, seed stage and growth stages.
  • The FFS is being managed and operated by Small Industries Development Bank of India (SIDBI). It contributes to SEBI registered AIFs that may go up to maximum of 35% of the corpus of the AIF concerned.

Tags:

Government launches Trade Infrastructure for Export Scheme

The Union Ministry of Commerce & Industry has launched Trade Infrastructure for Export Scheme for developing export linked infrastructure in states with a view to promoting outbound shipments.

TIES seeks to bridge the critical infrastructure gap and provide forward and backward linkages to units engaged in trade activities.

About Trade Infrastructure for Export Scheme (TIES)

  • Objective: Enhance export competitiveness by bridging the gap in export infrastructure, which has not been addressed by any other scheme.
  • It would focus on projects like customs checkpoints, last mile connectivity, border haats and integrated check posts.
  • Beneficiaries: All central and state agencies including Commodities Boards, Export Promotion Councils, SEZ authorities and Apex Trade Bodies recognised under EXIM policy of Central Government are eligible for financial support.
  • Funding: The cost of projects will be equally shared by the Centre and the states in form of grant-in-aid. In normal cases centre will borne 50% of the total equity in the project.
  • For projects located in north-eastern and the Himalayan region states, Centre may bear 80% of the cost.
  • Funds from other sources: Projects leveraging of funds from bank financing will be promoted. It will not include recurring costs of land and operating & maintenance costs to be met through pay and use charges.
  • Priority will be given to the projects involving significant contribution by the implementing agency and bank financing for achieving financial closure.
  • Approval: An inter-ministerial empowered committee will sanction and monitor the projects. It will be headed by the commerce secretary.

Tags:

Government launches Mission Fingerling to achieve Blue Revolution

The Union Ministry of Agriculture has launched Mission Fingerling, a programme to enable holistic development and management of fisheries sector in India with a total expenditure of about Rs. 52000 lakh.

The mission aims to achieve the target to enhance fisheries production from 10.79 mmt (2014-15) to 15 mmt by 2020-21 under the Blue Revolution.

Key Facts
  • Government has identified 20 States based on their potential and other relevant factors to strengthen the Fish Fingerling production and Fish Seed infrastructure in the country.
  • This program will facilitate the establishment of Fingerling rearing pond and hatcheries to ensure the fish production of 426 crores fish fingerling, 25.50 crores Post Larvae of shrimp and crab in the country.
  • This will converge in the production of 20 lakh tonnes of fish annually, which will inturn benefit about 4 million families.
  • The implementation of this program will supplement the requirement of stocking materials in the country up to a large extent, which is a much needed input to achieve the enhanced fish production.

Blue Revolution

  • Blue Revolution aims to recognize the potential and possibilities in the fisheries sector of the country by unlocking country’s latent potential through an integrated approach.
  • In its scope and reach, it focuses on creating an enabling environment for integrated and holistic development and management of fisheries for socio economic development of fishers and fish farmers.
  • It gives greater emphasis to infrastructure with an equally strong focus on management and conservation of the resources through technology transfer to increase in the income of the fishers and fish farmers.
  • It also seeks to achieve productivity enhancement by employing best global innovations and integration of various production oriented activities viz. production of quality fish seeds, cost effective feed and adoption of technology etc.

Tags:

Advertisement

1...89101112...203040...90