Economy Current Affairs - 2019
Category Wise PDF Compilations available at This Link
‘National Policy on Electronics’ (NPE) cleared by the Government
The Union Cabinet cleared the National Policy on Electronics 2012.
Objective: By 2020, make the Indian domestic electronic hardware manufacturing segment into a $ 400 billion industry.
- Government will create an ecosystem for a globally competitive ESDM (Electronic System and Design and Manufacturing) sector in India
- To achieve a turnover of about $400 billion by 2020.
- Investment of about $100 billion
- The government will facilitate the provision of fiscal incentives for investment, setting up of electronic manufacturing clusters, preferential market access to domestically manufactured electronic products, setting up of semiconductor wafer fabrication facilities, industry friendly and stable tax regime.
- Employment generation (around 28 million new jobs at various levels).
- A high level Empowered committee has been constituted to identify and shortlist technology and investors for setting up 2 semiconductor wafer manufacturing fabrication facilities (electronic chip making plants).
- Govt had earlier already approved a policy for providing preference to domestically manufactured electronic goods.
The two schemes already approved by the Government which are linked to National Electronics Policy 2012 are:-
- Modified Special Incentive Package scheme.
- Electronics Manufacturing Clusters (EMCs) scheme.
What if the Government doesn’t takes the initiative at this stage?
- If the government doesn’t takes this initiative, then it is estimated that at the current rate of growth, domestic production can ply to a demand of $100 billion by 2020 as against the now target demand of $400 billion.
- The rest of the demand would have to be met by imports.
- Thus, there would be an a demand-supply gap of almost $300 billion (=$400bn – $100bn) by 2020.
- It is also feared that if situation is rectified, by 2020, the Indian electronics’ import may exceed Indian oil imports.
- Due to the Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) with several countries, the import of electronics hardware in India from these countries is allowed either at zero duty or at a duty which is lower than the normal duty rate. Thus, it puts Indian domestic manufacturers at a disadvantageous position.
* Indian domestic production in 2008—09 was worth about $20 billion.
National Committee on Direct Cash Transfers, constituted by the Prime Minister.
This coordination committee will act as a mechanism to coordinate action for the introduction of direct cash transfers to individuals under the various government schemes and programmes.
Chairman of the Committee on Direct Cash Transfers: Prime Minister.
- 11 Cabinet Ministers
- 2 Ministers of State with independent charge
- The Deputy Chairman Planning Commission
- The Chairman UIDAI
- The Cabinet Secretary with the Principal Secretary to the PM as the convenor.
The PM can invite any other Minister/Officer/Expert to any meeting of the Committee.
Functions of the National Committee on Direct Cash Transfers:-
- Provide an overarching vision and direction to enable direct cash transfers of benefits under various government schemes and programmes to individuals, leveraging the investments being made in the Aadhaar Project, financial inclusion and other initiatives of the Government, with the objective of enhancing efficiency, transparency and accountability.
- Determine broad policy objectives and strategies for direct cash transfers.
- Identify Government programmes and schemes for which direct cash transfers to individuals can be adopted and suggest the extent and scope of direct cash transfers in each case.
- Coordinate the activities of various Ministries/ Departments/ Agencies involved in enabling direct cash transfers and ensure timely, coordinated action to ensure speedy rollout of direct cash transfers across the country.
- Specify timelines for the rollout of direct cash transfers.
- Review the progress of implementation of direct cash transfers and provide guidance for mid-course corrections.
- Any other related matter.
The National Committee on Cash Transfers will be assisted by an Executive Committee on Direct Cash Transfers.
Chairman of the Executive Committee on Direct Cash Transfer: Principal Secretary to PM
Other members of the Executive Committee: The Secretaries of the concerned Ministries and The DG UIDAI.
Functions of the Executive Committee on Direct Cash Transfers:
- Identify and propose for the consideration of the National Committee on Cash Transfers such Government programmes and schemes for which direct cash transfers to individuals can be adopted and suggest the extent and scope of direct cash transfers in each case.
- Ensure the preparation of and approve strategies and action plans for the speedy rollout of direct cash transfers in areas agreed to and in line with the timelines laid down by the National Committee on Cash Transfers.
- Coordinate the activities of various Ministries/ Departments / Agencies involved in enabling direct cash transfers to ensure that the architecture and framework for direct cash transfers is in place for rolling out direct cash transfers across the country.
- Review and monitor the rollout of direct cash transfers and undertake mid-course corrections as and when necessary.
- Any other related matter entrusted by the National Committee on Cash Transfers or relating to direct cash transfers.
Month: Categories: National