Self-Help Groups Current Affairs - 2020

Labour Ministry is celebrating Pension Week

The Labor Ministry is celebrating pension week from November 30, 2019 to December 6, 2019 in order to increase enrolments under National Pension Scheme (NPS) for traders and Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM). The aim of the celebration is to enroll 1 crore beneficiaries under PMSYM and 50 lakh beneficiaries under NPS-traders.

Highlights

The observation of the week was inaugurated by the Minister of State for Labour and Employment Shri Santosh Gangwar. As a part of the celebration, awareness campaigns are to be organized among 10 crore Ayushman beneficiaries, 40 lakh Anganwadi workers during the initial days. The campaigns will explain the pension schemes being offered by the Government of India and their benefits and importance. The campaign will also include 2.5 crore Self Help Group members, 4 to 5 crore building and other construction workers and 10 lakh ASHA workers.

Significance

In order increase enrollments the monthly contribution of the scheme has been kept at the lowest level ranging from Rs 55 to 200 per month. When a person joins a pension scheme he enjoys tax deduction up to 10% of basic salary. The schemes are designed in such a way that after retirement the person can fulfil his basic needs with a minimal monthly amount, say Rs 6000.

India International Trade Fair Begins

The 39th India International Trade Fair is to begin in New Delhi on November 14, 2019. Around 25,000 people are expected to visit the fair.

Theme: “Ease of Doing Business”

The theme is inspired from India’s 63rd rank in the World Bank’s Ease of Doing Business.

Highlights

  • The Fair is to serve as a convergence point for the government agencies, non-government institutions and private sector enterprises
  • Countries including Vietnam, UK, Turkey, Tunisia, Thailand, Nepal, Myanmar, Iran, Indonesia, Hong Kong, Egypt, China, Bhutan, Bangladesh, Australia and Bahrain are to participate in the fair
  • The preferences are given to Bihar and Jharkhand states this year
  • The fair is to offer equal opportunities to large corporations, MSME, artisans and self-help groups to promote their products

Significance

  • With India growing as a hotspot of startups, giving equal opportunities to them in these fairs will boost their growth and eventually will boost the growth of the economy. Such steps by the government shows the importance given to the startups in its governing actions. These steps fetch an increased growth rate predictions for the country in 2020-21 by organizations like IMF, World Bank, G20 though they pin down the current growth rate of the country
  • With increased importance to artisans and MSME along with large corporates will help boost GoI recent schemes aiming on increasing exports and reducing imports especially in the field of handicrafts.