Industrial Sector Current Affairs - 2020
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On January 18, 2020, the Industrial meet of the Asia’s largest Civil Aviation was held in Bengaluru. The Civil Aviation event is to be held at Begumpet airport, Hyderabad in March 2020. The theme of the event will be
Theme: Flying for All
The Industrial Meet was held at Bengaluru as the city is the IT Capital of India and has the potential to become an Aviation Capital of the country. The aim of the meet is to unite all the regulators and facilitators of the aviation sector. It was announced at the event that GoI has planned to set up a world class training facility for astronauts and pilots together.
Aviation Sector in India
India is the third largest domestic civil aviation market in the world. Also, it is the second fastest aviation industry in the world. Currently, India ranks 9 in terms of the civil aviation market.
The aviation sector currently contributes 72 billion USD to GDP. It provides job opportunities to 8 million Indians.
Targets set for aviation sector
- India aims to become the third largest aviation market globally by 2024
- The number of Indian carriers is to be increased to 1,100 by 2027
- The freight traffic at the airports of India is to cross 11.4 MT by 2032.
The GoI has taken several measures to improve the sector. It includes permitting 100% FDI in sea planes, helicopter services, group handling services and non-scheduled air transport services
Tags: Aviation Sector • Bengaluru • Civil Aviation • Economic Growth • FDI
The Punjab cabinet on December 2, 2019, approved the amendment of Punjab Village Common Land (Regulation) rules, 1964. It aims at creating land banks in rural areas to boost industrial development in the state.
Highlights of the amendment
The amendment has included Rule 12-B that provides special provision to transfer shamlat land or common land to the development of industrial projects. According to GoI, Shamlat land is the land that does not come under cultivation and habitation. It is the consolidated land holdings that are held by the state governments for common use.
Under the amendment, the Gram Panchayat can transfer the shamlat land to the industries with prior approval from the state government. Land Banks are to be set up under Gram Panchayat to implement this amendment.
In order to achieve this, as an initial step, 1,000 acres of Panchayat land have been identified and integrated across five different villages. It will be used to develop a Global Manufacturing and Knowledge Park at Rajpura in Patiala District. The park is a part of the Amristar-Kolkata Industrial Corridor project.
The rule allows the transfer of land to industry department or state-owned Punjab Small Industries and Export Corporation (PSIEC).
The amendment will help in fastening the development of core and infrastructure projects. It will also bring in long-term industrial benefits. Along with land banks, amendments were also made to factories act, industrial disputes act and contract labor act. These amendments aim at promoting ease of doing business.