Special Purpose Vehicle Current Affairs - 2019

Category Wise PDF Compilations available at This Link

Kerala Govt. to set up Non-Resident Keralites Investment company

Kerala Government decided to form a Non-Resident Keralites Investment company with 74% stake to be held by expatriate (or expat) to channelize investments from overseas Keralites for major infrastructure development in the state. Decision in this regard was taken at a cabinet meeting chaired by Kerela Chief Minister Pinarayi Vijayan.

Key Highlights

In Non-Resident Keralites (NRK) Investment and Holding company ltd. 74% of capital will be raised by issuing shares to NRKs and Government will have 26% stake.

The main aim of this shareholding is to utilise NRI investments for implementing various projects.

The company can set up a special purpose vehicle (SPV) or subsidiary company for the purpose.

Special officer of Company: Kerala cabinet also decided to appoint a NORKA (Non-Resident Keralites Affairs) Chief Executive officer (CEO) as special officer of company.

Formation of NRK Investment company was one of the major recommendations submitted by standing committees of Loka Kerala Sabha (World Kerala Assembly). The Loka Kerala Sabha is an event hosted by state government to bring Keralites living across the world under one platform and utilising NRK expertise for developing state.

Projects to be undertaken by the proposed company include construction of NRI townships and infrastructure development.

Bulletin: National Training Workshop for 7th Economic Census organized

A comprehensive training strategy called National Training Workshop of Master Trainers to impart training to trainers engaged in upcoming 7th Economic Census was held at Indian Habitat Center in the New Delhi. It was organized by Ministry of Statistics and Program Implementation (MoSPI).

Key Highlights

  • Objective: to impart training to Master trainers (enumerators and supervisors) engaged in Seventh Economic Census (7th EC).
  • Implementing Agency:Ministry of Statistics and Program Implementation (MoSPI) has partnered with Common Service Centre, CSC e-Governance Services India Limited (CSC SPV), a Special Purpose Vehicle under Ministry of Electronics and Information Technology (MeitY) for implementation.
  • Training: The participants were trained on key concepts and definitions, processes, digital platform and application to be used for enumeration (supervision and data capture) in field during 7th Economic census.
  • Reason: An Information Technology (IT) based digital platform for validation, data capture, report generation and distribution will be used in upcoming Economic Census. The fieldwork for 7th EC will be commencing from June 2019.
  • 7th Economic Census 2019: It is being conducted by MoSPI to provide disaggregated information (numerical or non-numerical information collected from multiple sources) on various structural and operational aspects of all establishments in country. After the National Training Workshop of Master Trainers in New Delhi similar exercise will be undertaken across India. During month of May and June 2019 over 6000 State and District level training workshops will be organized.

About Economic Censuses

  • It is a complete count of all establishments and units located within geographical boundaries of country.
  • Background: The first Economic Census was undertaken in 1977. The 2nd edition was carried out in 1980 followed by 3rd EC in 1990. The 4th EC took place in 1998 while 5th EC was held in 2005. The Sixth edition of Economic Census was conducted in 2013.
  • Objective: It provides detailed information on operational and economic variables, activity wise, and other characteristics like number of establishments, type of ownership, source of finance, number of persons employed, etc. The details about establishments across country include their distribution at all-India, State, district, village and ward levels. This is used for comprehensive analysis of structure of economy (macro, micro, regional levels) and for benchmark purposes.
  • Significance: The database so collected also serves as a sampling frame for drawing samples for socio economic surveys by Government and research organizations. This information is used for micro level or decentralized planning and to assess contribution of various sectors of economy in gross domestic product (GDP).