World Bank Current Affairs

INSPIRE 2018 organized in New Delhi by EESL and World Bank

The second edition of was International Symposium to Promote Innovation & Research in Energy Efficiency (INSPIRE 2018) launched in New Delhi. It was jointly organised by Energy Efficiency Services Limited (EESL) and World Bank. The three-day symposium focused on enhancing grid management, e-Mobility, financial instruments and technologies for energy efficiency in India. Moreover awards to four pathbreaking innovations in clean energy and energy efficiency were also given as part of #InnovateToINSPIRE, a first-of-its-kind energy innovation challenge.

Key Facts

#InnovateToINSPIRE challenge was organized by EESL and World resources Institute (WRI) in August- October 2018 in run-up to INSPIRE 2018. The challenge had invited participants to submit sustainable and scalable solutions to seven specific challenges spanning grid management, e-Mobility, energy efficient technologies and financial instruments.

Four winners were selected from 94 entries by eminent jury comprised of Indian and international experts in the field of energy. The winning entries received award of Rs. 5 lakhs, each, along with mentoring and guidance from EESL to help them bring their solutions to market.

Energy Efficiency Services Limited (EESL)

EESL was set up under Union Ministry of Power to facilitate implementation of energy efficiency projects. It is a joint venture of NTPC Limited, Power Finance Corporation (PFC), Rural Electrification Corporation (REC) and POWERGRID. It leads market-related actions of National Mission for Enhanced Energy Efficiency (NMEEE). It also acts as the resource centre for capacity building of State DISCOMs. It is also implementing the world’s largest energy efficiency portfolio in the country.

Month: Categories: India Current Affairs 2018

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India ranked 77th World Bank’s Ease of Doing Business Index

India ranked 77th among 190 countries by leapfrogging 23 ranks in World Bank’s Ease of Doing Business (EODB) 2018 rankings. In the 2017 rankings, India ranked 100th and had jumped 30 places. In 2016, 2015 and 2014, India had not improved much and was placed at 130, 131 and 134, respectively, in ranking.

EODB 2018 was topped by New Zealand (consecutive for third time), followed by Singapore, Denmark, and Hong Kong. US was placed at eighth and China was ranked 46th while Pakistan is placed at 136th.

Ease of Doing Business Index

The index ranks 190 countries based on 10 indicators across the life-cycle of a business, from “starting a business” to “resolving insolvency.” These 10 indicators are: Starting business, Dealing with construction permits, Getting electricity, Registering property, Getting credit, Protecting minority investors, Paying taxes, Trading across borders, Enforcing contracts and Resolving insolvency. Each one of these indicators carry equal weightage. In case of India, Delhi and Mumbai are only two cities surveyed by World Bank for this reankings.

India’s performance in EODB 2018

  • Its jump in ranking in EODB 2019 was aided largely by improvement in areas such as “trading across borders”, “dealing with construction permits”, “getting electricity”, “getting credit” and “starting a business”.
  • It has improved in rank in six out of ten indicators. It has moved closer to international best practice. India’s score also improved to 67.23, a gain of 6.63 from last year.
  • The most dramatic improvements by India was registered in indicators related to ‘construction permits’ (improved to 52 from 181) and ‘trading across borders’ (rose to 80 from 146).
  • However, compared to last year, India saw its ranking dip on various other parameters, such as “registering property”, “protecting minority investors”, “paying taxes” and “resolving insolvency”.
  • It is among top ten economies improving most across three or more areas alongside countries such as Afghanistan, Djibouti, China, Azerbaijan, Togo, Kenya, Côte d’Ivoire, Turkey and Rwanda.
  • It is only other country, alongside Djibouti, to be in top ten for second year in row. Two economies with largest populations — China and India — demonstrated “impressive reform agendas”.
  • It made starting business easier by integrating multiple application forms into general incorporation form. India also replaced value-added tax (VAT) with GST for which registration process is faster.

Month: Categories: Business & Economy Current Affairs 2018

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