Cabinet Approvals on September 6, 2023The Union Cabinet chaired by Prime Minister (PM) Narendra Modi has approved the following proposals on 6th September, 2023:

• Approves ₹3,760 crore VGF for development of BESS.
• Approves additional allocation of Rs. 1164.53 crore for IDS, 2017 in Himachal Pradesh and Uttarakhand.

i.The Union Cabinet has approved a scheme for Viability Gap Funding (VGF) aimed at developing Battery Energy Storage Systems (BESS). The scheme is part of the government’s efforts to enhance renewable energy integration and reduce peak power demand costs. It was first introduced in the Union Budget 2023.
ii.The Cabinet approved an additional amount of Rs. 1164.53 crore for the Industrial Development Scheme (IDS), 2017, for Himachal Pradesh and Uttarakhand. The Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade, proposed the allocation of additional funds under the Central Sector Scheme for Industrial Development Scheme 2017 for Himachal Pradesh and Uttarakhand.
iii.The Union Ministry of Home Affairs (MHA) has approved a proposal from Puducherry to implement a10% quota for students studying in government schools in medical admissions in Puducherry. The Centralised Admission Committee (CENTAC) is responsible for finalizing the list of students for admission to various higher education courses.

 

Bengaluru Established India’s First 500 kVA Underground Power Transformer Station at MalleshwaramOn 5th September 2023, K J George, Minister of Energy, Government of Karnataka, inaugurated India’s first 500 Kilo-volt-amperes (kVA) Underground Power Transformer Station on 15th Avenue in Malleswaram, Bengaluru (Karnataka).

• This facility was developed in collaboration with Bengaluru Electricity Supply Company Limited (BESCOM) and Bruhat Bengaluru Mahanagara Palike (BBMP) at a cost of Rs 1.9 crore.
• Electricity related works are done by BESCOM and civil works by BBMP.

Note:

• BESCOM Ltd is responsible for Power distribution in 8 districts of Karnataka (Bangalore Urban, Bangalore Rural, Chikkaballapura, Kolar, Davanagere, Tumkur, Chitradurga and Ramanagara).
• BBMP is an administrative body responsible for civic amenities and some infrastructural assets of the Greater Bangalore metropolitan area.

Objective:
The primary objective of the project is to ensure the safety of people, ensure a consistent power supply, prevent electrical accidents, improve pedestrian access, and maintain the Artistic Garden City.
Features of Underground Power Transformer:
i.The transformer is stationed 10 feet (around 4 meters) below ground level and standing on the 30-millimeter (mm) concrete structure built at ground level and can be accessed through two metal doors.
ii.The 500kVA capacity transformer is stationed with eight-way solid-state Ring Main Units (RMU) and has a cast iron earthing grid.
iii.The underground station has a 1-horsepower (HP) submersible water pump, which is said to automatically turn on and drain out from the transformer unit, in case the underground station gets flooded.
iv.It has automatic temperature and humidity monitoring systems, a Low Tension (LT) distribution Panel, Uninterruptible Power Supply (UPS), and Lighting and Ventilation systems, among other components.
Benefits:
i.The underground transformer system will increase the lifespan of electrical equipment and reduce transmission losses. This will decrease transformer blasts and electrical disruptions.
ii.It ensures uninterrupted footpath usage during overhead cable maintenance and protects electrical equipment insulated from extreme climatic changes such as cold, heat, and rain.
iii.This project will assist the BBMP and BESCOM to provide better service, as they do not need to dig the road or block the traffic during any maintenance work.
Key Points:
i.The Karnataka government is planning to install more such underground power transformers in the city, which are usually seen on the footpath or on the side of a road.
ii.Bescom will eventually convert all the High Tension (HT) overhead lines to underground cables in Bengaluru city.
iii.And will also convert the complete system which includes distribution transformers, RMUs, feeder pillar boxes, etc. into an underground system.
About Karnataka:
Chief Minister– Siddaramaiah
Governor– Thawar Chand Gehlot
Wildlife Sanctuary– Cauvery Wildlife Sanctuaries and Chincholi Wildlife Sanctuary

 

India unveils ‘G20 India’ mobile app; 1st ever App made for G20The Government of India has unveiled “G20 India”, a mobile app which will offer a comprehensive, interactive guide to event-related information. For the first time, a mobile App has been made for G20.

• The app was launched ahead of the 2023 G20 New Delhi summit, the 18th meeting of G20, scheduled to take place in Bharat Mandapam International Exhibition-Convention Centre, Pragati Maidan, in New Delhi, Delhi on September 9-10, 2023.

About G20 India App:
i.The G20 India App, created by the Ministry of External Affairs (MEA), is a user-friendly digital platform for participants and global audiences alike.
ii.It is available for download, both on Android and iOS.
iii.Its key feature is multilingual support. It offers content in five official United Nations (UN) languages: English, Hindi, German, Japanese, and Portuguese.
iv.The app will remain operation throughout India’s G20 Presidency. India’s G20 Presidency started from 1st December 2022 and will end on 30th November 2023.
v.Features of the platform include a calendar for the G20 India 2023 event, resources, media, and insightful details about the G20.
9th meeting of the G20 Coordination Committee chaired by Dr PK Mishra
On August 30, 2023, the Principal Secretary to the Prime Minister (PM), Dr Pramod Kumar (PK) Mishra chaired the 9th G20 Coordination Committee meeting to oversee preparations for the G20 (Group  of Twenty) New Delhi Leaders’ Summit 2023, covering logistics, protocol, security, and media arrangements.
About the Summit:
i.The summit will feature exhibitions on culture and democracy, including a Nataraj statue installation and a specially curated program for visiting leaders’ spouses.
ii.Delegates will experience digital India through the ‘Innovation Hub’ and ‘Digital India Experiential Hub’ at Bharat Mandapam.
iii.For smooth coordination between various agencies, a Multi-Agency Control Room is set up at Bharat Mandapam.
iv.Emphasis were laid on minimizing public inconvenience and maintaining essential services.

 

2nd Naval Commanders Conference: Maritime Infrastructure Perspective Plan 2023-37 Released On September 4, 2023, the 2nd edition of Bi-annual Naval Commanders Conference was held in New Delhi, Delhi where Minister of State (MoS) Ajay Bhatt, Ministry of Defence interacted with Senior Naval Leadership.

• The 1st edition was conducted onboard INS (Indian Naval Ship) Vikrant in March 2023

Unveiling of several Key initiatives by MoS:
i.Maritime Infrastructure Perspective Plan 2023-37 (MIPP): This plan outlines the Navy’s infrastructure needs for the next 15 years, aligning with the government’s sustainability goals and broader policy directives.
ii.IRS Rules and Regulations Handbook: It incorporates technological advancements and self-reliance in naval shipbuilding, this handbook covers the construction and classification of naval combatants.

• It is an improved version of the previous edition of 2015, represents the self-reliance of the naval shipbuilding industry.

iii.Family Logbook for Defence Civilian Personnel: A financial record book for naval civilian personnel families, providing crucial financial information for emergencies and unforeseen circumstances.
iv.Electronic Service Document Project: This project aims to digitize and centralize HR (Human Resource) record management for Naval personnel, in line with the Digital India Vision.
Indian Navy unveils new uniform items:
During the Meet, Indian Navy showcased ongoing indigenous projects and introduced new uniform items at the naval commanders’ conference.

• The newly designed uniform items was introduced in service for enhanced comfort, hygiene and functionality.
• The new uniform set includes, jackets, high absorption T-shirts, high ankle shoes, camouflage caps and a national civil dress for messes and functions

The Indian Navy also showcased its ongoing and planned indigenous projects based on niche technologies in areas including combat platform integration, underwater domain awareness, cyber security, tactical communications and combat management system.
Delivery of Second ACTCM Barge, LSAM 16
On September 6, 2023, the Second Barge of the series LSAM 16 (Yard 126) has been delivered to Indian Navy (IN) Under Indian Register of Shipping (IRS) classification rules, with a 30-year service life.

• The barge, equipped with indigenous equipment, aligns with the “Make in India” initiative. This addition will enhance the Navy’s operational capabilities by facilitating the transportation, embarkation, and disembarkation of articles and ammunition for IN ships both at jetties and outer harbors.

This delivery was a part of the contract for construction and delivery of Eleven Ammunition Barges with Thane, Maharashtra based MSME (Micro, Small & Medium Enterprises) M/s Suryadipta Projects Pvt Ltd.

 

Indian & Sri Lankan Navy conducts Maritime Partnership Exercise
The Indian Navy (IN) and Sri Lanka Navy(SLN) jointly conduct a Passage Exercise (PASSEX) off the coast of Colombo, Sri Lanka.

• Indian Naval Ship(INS) Delhi and SLN Ship Vijayabahu participated in the Exercise.
• The Exercise took place during a two-day visit of INS Delhi to Sri Lanka from 1st to 3rd September 2023.

INS Delhi is the Indian Navy’s first indigenously designed and built guided missile destroyer built by Mazagon Dock Limited in Mumbai, Maharashtra.
Overview of INS Delhi’s 2 day visit:
i. TheCommander of INS Delhi, Captain Abhishek Kumar, and the crew of INS Delhi paid respects at the Indian Peace Keeping Force(IPKF) memorial of Indian soldiers who laid their lives in Sri Lanka during IPKF operations from 1987-91.
ii.During a reception hosted onboard INS Delhi, As part of India’s Aarogya Maitri initiative, the High Commissioner of India to Sri Lanka, Gopal Baglay, presented the ‘Arogya Maitri Cube’ to the Mahinda Yapa Abeywardana, Speaker of Sri Lanka Parliament.

• The indigenously built Arogya Maitri Cube is the world’s first disaster hospital developed under Project BHISHM (Bharat Health Initiative for Sahyog Hita and Maitri).
• It consisted of 72 cubes, each containing an array of essential equipment and supplies.

iii.The INS Delhi crew and SLN personnel carried out the clean-up of Crow Island Beach in Colombo.

 

ADB’s Survey: Global Trade Finance Gap Expands to USD 2.5 Trillion in 2022According to Asian Development Bank (ADB)’s  2023 Trade Finance Gaps, Growth and Jobs Survey (8th edition), the global trade finance gap rose to USD 2.5 trillion in 2022 (10% of global merchandise trade) from  USD 1.7 trillion in 2020 and USD 1.5 trillion in 2018.

• This indicates that the global economy is  still struggling to rebound from the effects of COVID -19 pandemic.
• The trade finance gap is the difference between requests and approvals for financing to support imports and exports.

What caused the Financial Gap?
i.After COVID-19 pandemic global goods exports grew at 26.6% in 2021 and 11.5% in 2022. Because of this, there was a greater need for financial support for trade. However, it became harder to get this financial help from ADB  due to increased economic uncertainties.
ii.The problems like rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the ADB’s lending capacity.

• Russian-Ukraine conflicts also  impacted their trade finance portfolios due to growing geopolitical uncertainty and increased commodity prices.

iii.Following a zero-growth rate during the last quarter of 2022, as of April 2023, global trade exports in value slowed year-to-date, showing a decline of around 3%.
Solution:
i.Digitalization of global trade can reduce the gap, facilitate transparency, and underpin a greater ability to monitor environmental and social standards.

• But there are no proper guidelines to  electronic documents and legislation regarding the electronic trade documents.

ii.Enhance trade financing capacity with SME-specific credit procedures, deep-tier supply chain finance, and attracting new capital sources.
iii.Integrate trade financing into crisis response initiatives.
iv.Promote global digital trade advancement by prioritizing standard harmonization, commercial adoption, legislation, and policy development.
v.Standardize sustainability criteria and improve data collection and reporting methods.
ESG
The 2023 trade gaps survey focuses on environmental, social, and governance (ESG) issues for the first time (along with digitalization), to evaluate the impact on relevant supply chains and the trade finance gap.

• ESG alignment could reduce the trade financing gap.

TSCFP
Trade and Supply Chain Finance Program (TSCFP) provides loans and guarantees to more than 200 partner banks to support trade, boosting imports and exports that foster growth when the private sector finds it challenging to operate.

• TSCFP is working to make global trade and supply chains green, resilient, inclusive, and socially responsible.
• It is backed by ADB’s AAA credit rating.

Additional Info:
The survey is  based on responses from 137 banks across 54 countries and 185 firms from 43 countries. The survey responses reflect over 60% of the global market for bank-intermediated trade financing.
About  Asian Development Bank (ADB):
President – Masatsugu Asakawa
Headquarters – Mandaluyong City, Metro Manila, Philippines
Established in – 1966
Members – 68 member countries (49 from the region)

 

Highlights of 54th AGM of REC Limited; Committed to Increase Green Project Loan Portfolio to Rs 3 Lakh cr by 2030i.On September 6, 2023, the 5th Annual General Meeting (AGM) of REC Limited (formerly Rural Electrification Corporation Limited) held via Video Conferencing which was chaired by its Chairman & Managing Director (CMD) Vivek Kumar Dewangan.
ii.REC Limited committed to increase its green project loan portfolio to Rs 3 lakh crore by 2030, representing more than a 10-fold increase.
iii.REC Limited raised USD 1.15 billion in August 2023 in two tranches from a consortium of six banks as Mandated Lead Arrangers and Bookrunners (MLABs) under its Market Borrowing Programme of Rs. 1.20 lakh crore for 2023-24.
iv.REC Limited secured its first-ever Foreign Currency Term Loan of USD 100 million from EXIM (Export Import) Bank of India.
About REC Limited (formerly Rural Electrification Corporation Limited):
It is a Maharatna Central Public Sector Undertaking under the Ministry of Power.
Chairman and Managing Director (CMD)– Vivek Kumar Dewangan
Headquarter– Gurugram, Haryana
Establishment– 1969

 

SEBI Approved Groww Mutual Fund To Launch Its First Index FundSecurities and Exchange Board of India (SEBI) gave approval to Online stock broking firm, Groww Mutual Fund to launch its first index fund  ‘Groww Nifty Total Markets Index Fund’. The fund will be raised through New Fund Offering (NFO).

• The launched index fund is a Passive mutual fund (which replicates a market index like the Nifty or Sensex) and will be launched by the end of September 2023.

What is NFO?
An asset management company launching a new mutual fund can raise capital through a NFO which is  similar to an Initial Public Offering (IPO). NFOs provide details of the portfolio, including company shares, securities, fund manager, etc.

• Through such offers, investors can purchase units of a mutual fund at the subscription price (usually set at Rs.10 per unit).
• Both open-ended and closed-end funds are launched via new fund offers for a limited time period(Maximum of 30 days), and then traded in the market, based on their corresponding net asset value (NAV).

Additional Info: Zerodha Asset Management Limited launched  two new schemes Zerodha Tax Saver (ELSS) Nifty Large Midcap 250 Index Fund and Zerodha Nifty Large Midcap 250 Index Fund (ZN250).
SEBI Mandates Payment To IPEF Only Through Online Mode
Securities and Exchange Board of India (SEBI) issued a circular stating that crediting funds to the SEBI Investor Protection and Education Fund (IPEF) should be made only through online mode.

• This circular is issued in exercise of the powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992.

Changes made:
The new guidelines replaced previously issued SEBI guidelines in  2020  which  prescribed  that the amounts shall  be credited  to  the IPEF through online mode or by Demand Draft (DD).
Payment methods:
The payment can be made through internet banking, National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS), Unified Payments Interface(UPI) and Debit cards.
What is IEPF?
i.Under Section 205 C of the Companies Act, 1956, the government has instituted an Investor Education and Protection Fund (IEPF).

• This fund serves as a repository for unclaimed funds related to dividends, matured deposits, matured debentures, share application money, and similar items.

ii.The IPEF has been set up for the promotion of investors’ education, awareness and protection.
iii.Investor Education and Protection Fund Authority(IEPFA) is responsible for administrating IEPF.
About Groww Mutual Fund:
Groww Mutual Fund operates under the trusteeship of Groww Trustee Limited and is sponsored by Nextbillion Technology Private Limited.
Co-founder & Chief Executive Officer(CEO) – Varun Gupta
Headquarters – Bengaluru, Karnataka
Established in – 2011

 

KredX & Mastercard partners to make B2B Payment Rewarding for Enterprises & VendorsKredX(Minions Ventures Private Limited), India’s largest supply chain finance platform, partnered with Mastercard, Inc., the second largest payment processing company across the globe, to make Business-to-Business (B2B) digital payments rewarding for both enterprises and vendors.

• Under this partnership, Mastercard will integrating its commercial card service with the KredX platform, eliminating the complexities associated with B2B payments, especially those involving cards.

What is B2B Payments?
B2B payments are the exchange of currency for goods or services supplied between two businesses. This is an inter-commerce transaction that does not involve a consumer.
A B2B form of transaction is conducted between 2 businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer.
Features and Benefits:
i.The platform with features like dynamic discounting, early payment options, and price discovery mechanisms will enable enterprises and vendors to enhance their cash flows..
ii.Powered by Artificial Intelligence (AI), the platform serves as an end-to-end procure-to-pay solution for businesses, helping them with faster and more efficient matching and processing of invoices.

• Notably, the Smart Bid algorithm will help enterprises discover the best discount rates from vendors.

iii.By integrating pre-discounting journeys with post-discounting payments, this platform will enhance KredX’s operational efficiency and strengthen its supply chain management capabilities.

• Accelerating supply chain velocity through financial innovation has been central to KredX’s value proposition

iv.This platform aims to address some common challenges associated with B2B payments, such as long accounting and reconciliation processes, limited vendor acceptance, and frequent chargebacks.
v.This will be instrumental in promoting digital payment acceptance by allowing small vendors to receive payments even in the absence of in-house payment gateways and Point of Sale (PoS) machines.
About KredX (Minions Ventures Private Limited):
Founder and Chief Executive Officer (CEO)- Manish Kumar
Headquarters– Bengaluru, Karnataka
Founded in– 2015

 

SBI Card Launches ‘SimplySAVE Merchant SBI Card’ for MSMEs
SBI Cards & Payment Services Limited (SBI Card), India’s largest pure-play credit card company, launched ‘SimplySAVE Merchant SBI Card’, a Credit Card for Micro, Small, and Medium Enterprises (MSMEs). The card has been designed to offer interest-free short-term credit options for MSME merchants and other exclusive benefits.

• SimplySAVE Merchant SBI Card was unveiled by Mr. Dinesh Khara, Chairman, State Bank of India (SBI) at Global Fintech Fest in Mumbai, Maharashtra.
• This card will address the need for easy and timely access to formal credit by providing interest-free short-term credit to MSMEs.
• This card is available on the RuPay network and can also be linked to the Unified Payments Interface (UPI) for payments through various UPI-enabled third-party apps.

Note: SBI Cards and Payment Services Limited, subsidiary of State Bank of India (SBI), was formerly known as SBI Cards and Payment Services Private Limited (SBICPSL).

 

JAXA & MHI launches X-ray Astronomical Satellite XRISM  and Lunar lander SLIMJapan Aerospace Exploration Agency (JAXA) along with Mitsubishi Heavy Industries Limited (MHI) launched the H-IIA Launch Vehicle No. 47 (H-IIA F47) which carried X-ray astronomical satellite  X-Ray Imaging and Spectroscopy Mission (XRISM) and Lunar lander Smart Lander for Investigating Moon (SLIM).

• The rocket was launched  from Tanegashima Space Center, Japan.
• With this, Japan yet to  become the fifth country to soft land on the moon; The fourth Country was India with its launch of Chandrayaan 3 mission in August 2023.

Note: Other three nations to soft land on the moon – the United States of America(USA), Russia & China.
XRISM
X-Ray Imaging and Spectroscopy Mission (XRISM) satellite, a joint project of JAXA, National Aeronautics and Space Administration(NASA) and the European Space Agency(ESA).

• The satellite aims to observe plasma winds flowing through the universe which helps in  understanding the evolution of stars and galaxies.
• XRISM is said resolve mysteries regarding the formation of the universe.

SLIM
i.SLIM is a lunar lander which is dubbed as the “moon sniper”.
ii.It is the small spacecraft(2.4 metres) with  two objectives such

• Demonstration of high-precision landing technology ( by using pin-point landing technique and obstacle detection technique).
• Realisation of a lightweight lunar and planetary probe system to allow more frequent lunar and planetary exploration missions.

iii.The USD 100-million mission is expected to start the landing by February 2024 (near lunar sea Mare Nectaris) after a long, fuel-efficient approach trajectory.

• After landing, the craft will analyse the composition of olivine rocks near the sites in search of clues about the origin of the moon.

Note:
OMOTENASHI craft is the first lunar lander of JAXA which was launched in  November 2022 but lost its signal and failed to soft land
Additional info:
Russia’s  Luna-25, failed as the spacecraft spun out of control and crashed into the moon after a problem preparing for pre-landing orbit.
About  Japan Aerospace Exploration Agency (JAXA)
President – Yamakawa Hiroshi
Headquarters – Tokyo, Japan
Established in – 2003

 

International Day of Clean Air for Blue Skies 2023- September 7The United Nations (UN) International Day of Clean Air for Blue Skies also known as World Clean Air Day is annually observed across the globe on 7th September, to raise awareness about the importance of clean air for a sustainable future.

• The day also aims to mobilise global action to address air pollution, which represents one of the biggest threats to human health.

7th September 2023 marks the 4th annual observance of the International Day of Clean Air for Blue Skies.

• The 2023 theme of the International Day of Clean Air for Blue Skies is, “Together for Clean Air“.

Background:
i.In 2019, the United Nations General Assembly (UNGA) on its Second Committee of the 74th session adopted the resolution A/RES/74/212, designating the 7th September of every year as the “International Day of Clean Air for Blue Skies”.
ii.The first-ever International Day of Clean Air for Blue Skies was observed on 7th September 2020.
World Health Organization (WHO) has developed the 1st Air Pollution and Health Training toolkit (APHT), in collaboration with over 30 international experts, specifically tailored for health workers.

 

Telangana & Tabreed signed MoU to set up Asia’s largest district cooling project in Hyderabad The government of Telangana have signed a Memorandum of Understanding (MoU) with National Central Cooling Company PJSC (Tabreed), Abu Dhabi(United Arab Emirates-UAE) based cooling-as-a-service provider, to develop Asia’s largest District Colling System (DCS) in Hyderabad, Telangana.

• Tabreed is set to invest USD 200 million to develop 1,25,000 refrigeration tons (RT) of cooling infrastructure for the Hyderabad Pharma City(HPC), Telangana.
• The project is being taken up on a Public Private Partneships(PPP) basis.
• This will provide sustainable long-term cooling services through utility cooling as a service model for process cooling and storage requirements of industrial units.

Note: HPC is praised as the world’s largest integrated pharma cluster, in Telangana.
District Colling system (DCS):
District Cooling is an environmental friendly, energy saving and economical cooling method. DCS involves using a central chiller plant to cool water, which is then circulated for indoor cooling purposes to industrial, commercial and residential buildings through a closed loop pipe network.
About the Partnership:
i.This is in line with the efforts towards greener and healthier environment and the vision of achieving net-zero emissions by 2047.
ii.The collaboration between Tabreed and the Telangana government commits to reshaping the landscape of sustainable infrastructure development.
iii.Tabreed’s expertise in DCS to HPC will shape the future of the industrial clusters and set a powerful precedent for environmental responsibility.
MoU with Tabreed for another Project:
i.Telangana government has also signed a MoU with Tabreed to explore district cooling infrastructure in existing and upcoming commercial districts of Cyberabad in Hyderabad and other mixed-use development areas that offer the potential to reduce over 200 Megawatt (MW) of peak electricity demand.
ii.It resulted in an annual Carbon dioxide (CO2) reduction of 18 million tonnes over a 30-year period while mitigating the heat island effect that will further boost Hyderabad’s position as one of the best cities to live and work in Asia.
Benefits:
i.The first-of-its-kind, initiative will bring multi-fold benefits of highly reliable, superior cost-efficiency, and unprecedented economies of scale, resulting in 6,800 Gigawatt hours (GWh) of power savings and 41,600 mega liters of water savings.

• It will pave the way for reduced Greenhouse Gas emissions by saving 6.2 million tons of CO2.

ii.This initiative is set to revolutionise the pharmaceutical industry’s cooling practices, contributing to a cleaner and greener environment for various bulk drug manufacturing facilities.
About Telangana:
Chief Minister– K. Chandrashekar Rao
Governor– Tamilisai Soundararajan
Zoological Park– Nehru Zoological Park and Vana Vigyan Kendra Mini Zoo (Kakatiya Zoological Park)

 

Ahmedabad Becomes India’s 2nd City to Implement ETS for Particulate Matter After Surat
Mulubhai Bera, Minister of Tourism, Cultural Activities, Forest & Environment, Climate Change, Government of Gujarat, inaugurated the Emission Trading Scheme (ETS) Live trading in Ahmedabad, Gujarat. With this launch, Ahmedabad became the 2nd city in India as well as in Gujarat to implement an ETS for particulate pollution after Surat (Gujarat).

• ETS for particulate pollution will help in regulating industrial emissions and reduce Gujarat’s pollution levels. The live trading among 118 Ahmedabad industries in the scheme has commenced from 5th September 2023.
• The ETS is an innovative instrument for pollution regulation that has the potential to transform the trade-off between environmental quality and growth and improvement in air quality.
• The ETS for Particulate Matter (PM) in Surat, is the world’s first of its kind effort to use markets to reduce pollution in August 2019. This innovative initiative in Gujarat aimed at ensuring a balance between economic growth and environmental conservation.
• The initial phase of the Ahmedabad ETS encompassed crucial activities, including installing and calibrating Continuous Emissions Monitoring System (CEMS) devices across participating industries, coupled with multiple workshops to simulate trading scenarios. The trading platform has been developed by the National Commodity & Derivatives Exchange Limited (NCDEX) e Markets Limited (NeML).

The ETS is implemented by the Gujarat Pollution Control Board (GPCB) with the technical expertise of Prof. Michael Greenstone (University of Chicago, the United States of America (USA)); Dr. Rohini Pande (University of Yale, USA), Dr. Anant Sudarshan (University of Warwick, England, the United Kingdom), Dr. Nicholas Ryan (University of Yale) along with the Abdul Latif Jameel Poverty Action Lab (J-PAL) and Energy Policy Institute Chicago, USA.
Note: The ETS empowers industries in the textile sector within the Narol and Vatva clusters, in Ahmedabad, Gujarat.

 

Jharkhand Cabinet Approves Pension for the Transgender Community & Inclusion in Backward Classes Category
Jharkhand Cabinet chaired by Chief Minister(CM) Hemant Soren approved to include the transgender community under its universal pension scheme ‘Mukhyamantri Rajya Samajik Suraksha Pension Yojana’ and avail the financial aid of Rs 1000 per month.

 

• Those who are 18 years of age or above and have voter ID cards will be eligible for the scheme.