Karnataka government to pump in Rs 2,000 crore to revive five Escoms
The government plans to allocate Rs 2,000 crore to restructure and revive the five ailing electricity supply companies (Escoms) in the state. The state cabinet, which is scheduled to meet in Belagavi next week to discuss the anticonversion bill, is expected to sanction the proposal.
The five electric supply companies — Bescom (Bengaluru), Chescom (Chamundeshwari), Gescom (Gulbarga), Mescom (Mangaluru) and Hescom (Hubballi) — have been in the red largely due to rising dues from the government. They had recently approached Bommai seeking clearance of dues to the tune of Rs 2,000 crore to ensure uninterrupted power supply.
Energy department officials said the government will make payment in two parts — grants and guarantees for Escoms to raise loans from the market.
Myanmar: NU Government officially accepts Tether cryptocurrency
Myanmar’s shadow government has allowed the use of world’s largest cryptocurrency called Tether.
Tether Cryptocurrency will be used as an official currency.
This move will make it easier to raise funds and make payments.
The National Unity Government (NUG) comprises of pro-democracy groups and some members from Myanmar’s civilian administration, which was overthrown in a military coup recently. The NUG has been working to raise funds for its revolution of toppling the ruling military government in Myanmar. In the other move, the Military government has outlawed and designated NUG as a terrorist.
Tether is a cryptocurrency, which is hosted on the Ethereum blockchain. Its tokens are issued by Tether Limited. Tether limited is controlled by owners of Bitfinex. Tether is called a stablecoin, since it was originally designed to always be worth US$1 and maintain $1.00 in reserves.
UNESCO adds Durga Puja to its Intangible Heritage list
Intergovernmental Committee for Safeguarding of the Intangible Cultural Heritage decided, in its 16th session, to inscribed ‘Durga Puja in Kolkata’ on the Representative List of Intangible Cultural Heritage of Humanity.
16th session of UNESCO is being held, starting from December 13, 2021. It will conclude on December 18, 2021.
Till now, Durga Puja was celebrated in many parts worldwide. But an official global recognition was pending.
Durga Puja is a classic fusion of religion and culture. It is regarded with a lot of pride. This festival is performed and celebrated predominantly by the Bengali community.
As per UNESCO, cultural heritage does not end at collections of objects and monuments. It also includes traditions or living expressions which have been inherited from ancestors and passed on to descendants. It is a practice, expression, representation, knowledge, or skill considered by UNESCO.
India-Poland treaty on assistance in criminal matters receives Cabinet approval
Union Cabinet chaired by Prime Minister Narendra Modi approved India and Poland treaty on mutual legal assistance in criminal matters.
This treaty is aimed at enhancing capability and effectiveness of India as well as Poland in investigation and prosecution of crimes through mutual legal assistance. It will also include crimes related to terrorism.
It also seeks to enhance effectiveness in investigation and prosecution of crime, through mutual legal assistance.
With respect to transnational crime and its linkages to terrorism, the treaty will provide a legal framework for a bilateral cooperation with Poland in investigation and prosecution of crime.
Cabinet approves implementation of PMKSY for 2021-26
Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi, approved implementation of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26.
Scheme was implemented with an outlay of Rs.93,068 crore.
CCEA approved central support of Rs.37,454 crore to States.
20,434.56 crore of debt servicing has been approved for loan availed by Government of India to develop irrigation during PMKSY 2016-21.
As a part of the scheme, Accelerated Irrigation Benefit Programme (AIBP), Watershed Development and Har Khet ko Paani (HKKP) components have been extended for 2021-26.
Accelerated Irrigation Benefit Programme (AIBP)
AIBP is a flagship programme, launched by government of India with the aim of providing financial support to irrigation projects.
With the continuation of scheme during 2021-26, total target of additional irrigation potential creation is 13.88 lakh hectare.
Beside the focused completion of 60 ongoing projects, additional projects can also be taken up.
Cabinet has relaxed the inclusion criteria for projects under tribal and drought prone areas.
This component of the scheme focuses on development of rainfed areas for soil & water conservation, arresting runoff, regeneration of ground water and promoting extension activities related to water harvesting & management.
The approved Watershed Development component will cover 49.5 lakh hectare rainfed or degraded lands for bringing additional 2.5 lakh hectare under protective irrigation during 2021-26.
Cabinet approved ₹76,000 crore scheme to boost semiconductor manufacturing
Union Cabinet approved a Rs 76,000-crore scheme for boosting semiconductor and display manufacturing in India.
This scheme was approved in order to position India as a global hub for hi-tech production, as well as to attract large chip makers.
It would also strengthen India’s ambitions to be self-reliant in electronics manufacturing and bring huge investments.
This move will generate 35,000 specialised jobs and indirect employment for one lakh people.
Under the scheme, government has lined up incentives for companies engaged in silicon semiconductor fabs, compound semiconductors, display fabs, sensors fabs, silicon photonics, semiconductor packaging and semiconductor design. With the launch of this scheme, government expects investments of about Rs 1.7 lakh crore and 1.35 lakh jobs in upcoming four years.
Ladakh gets its First FM Radio Station
Ladakh received its first ever FM radio station in the capital city Leh.
The first-ever Top FM radio in Leh was launched by Advisor of Ladakh, Umang Narula.
The frequency for Leh&Kargil will be 91.1 FM.
It will cover 50 kilometres aerial distance in radius.
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