Indigenisation Current Affairs - 2020
On May 21, 2020, the Government of India amended General Financial Rules to make sure the goods and services that are of value less than Rs 200 crores are procured from domestic firms.
The GFR 2017 (General Financial Rules) have been amended by the Central Government. Under the new amendment, global tenders henceforth will be disallowed in government procurement that are of value Rs 200 crores. This was announced in Atma Nirbhar Bharat Abhiyan.
General Financial Rules
The GFR are set of rules that deal with matters that involve public finances. They were first issued in 1947 bringing together all the existing orders. They are instructions that pertain to financial matters.
The GFRs were modified in 1963 and 2005.
The GFR 2017 was revised in 2017 to make sure an organization manages its business without compromising its flexibility.
Tendering is a process where bids for a project are accepted. Now, global tendering is tenders from foreign countries or through foreign investment. “Disallowing Global Tenders” is stopping foreign investments to a particular threshold to boost indigenous companies.
Tags: Atma Nirbhar Bharat Abhiyan • Foreign Investment • General Financial Rules • Indigenisation • Nirmala Sitaraman
On May 21, 2020, the Government of India announced that around 6.8 crore free cylinders have been distributed under Prdhan Mantri Ujjawala Yojana.
Under the scheme, free LPG cylinders are being provided by the Ministry of Petroleum and Natural Gas. This covers more than 8 core beneficiaries of Pradhan Mantri Ujjawala Yojana. The beneficiaries are provided with the funds through Direct Benefit Transfer (DBT).
The GoI has allocated separate funds to distribute the cylinders under Pradhan Mantri Garib Kalyan Yojana. It was launched to ease the lives of the people during lock down.
Pradhan Mantri Garib Kalyan Yojana
The scheme was launched in December 16, 2016 under Ministry of Finance. The scheme was valid till March 31, 2017. It was launched to declare unaccounted black money and wealth. The scheme was recently updated to mitigate the losses faced by the poor due to COVID-19.
Under the scheme, Rs 1.7 lakh crore was allocated. The updated scheme was launched on March 26, 2020.
Apart from this, the GoI has recently launched the Atma Nirbhar Bharat Abhiyan to revive the economy of the country. Around Rs 20 lakh crores have been allocated under the scheme. Through the scheme, the Government intends to boost MSMEs, agriculture, mining, fisheries. defence and science and technology. It mainly focuses on indigenisation of manufacturing. It will also focus on providing important to local produce through vocal for local initiative.