Sugar Buffer Stock
Centre to create a Sugar Buffer Stock 4 million tonnes
Bumper domestic production – Pending sugarcane arrears of more than ₹ 15,000 crore
The buffer stock will help maintain demand-supply balance and to stabilise sugar prices.
Approved in the meeting of the Cabinet Committee on Economic Affairs (CCEA) (headed by Prime Minister)
The reimbursement available under the scheme Would be directly credited into farmers’ account on behalf of sugar mills against their cane price dues
Fair and Remunerative price (FRP)
FRP is the minimum price that sugarcane farmers are legally guaranteed to get from sugar mills. The FRP is based on the recommendation of the Commission of Agricultural Costs & Prices (CACP). The „FRP‟ of sugarcane is determined under Sugarcane (Control) Order, 1966.
Farmers in many States such as Andhra Pradesh, Karnataka and Maharashtra, are paid on the basis of the FRP set by the Centre. Others, in Uttar Pradesh, Punjab, Tamil Nadu etc, have a
Foreign Sovereign Bonds
Government aims to raise as much as $10 billion from overseas capital markets. This is the first time it will be done.
– Government wants to diversify its borrowing, which has so far been limited to the domestic market,
– Create a benchmark for future foreign bond sales
– Low global interest rates
– India‟s low external debt, which at about 20 per cent of the Gross Domestic Product (GDP) is below most emerging-market peers
Foreign Sovereign Bonds
– Expose the country to external risks and shocks
– India runs a current-account deficit, which makes it reliant on foreign inflows and vulnerable to swings in investor sentiment and the currency
– Borrowing from overseas will increase the risk of currency volatility
– It will boost debt costs on dollar bonds when the rupee weakens
– Foreign debt would open India up to inflation threats
– Argentina, sovereign bond yields and credit default swaps — insurance against non-payment — surged in 2010
– Greece, plunged into economic crisis after irregularities in accounting procedures meant the government had under-reported its fiscal deficit.
Students at the IIT Madras developed a “smart agricopter” to:
• Eliminate manual spraying of pesticides in agricultural fields
• Help identify crop health by using a imaging camera
The advanced multispectral imaging camera allows the hexacopter drone to make smart maps
Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan Scheme (PM-KUSUM)
It would encourage farmers to generate solar power in their farms and use the clean energy to replace their diesel water pumps. PM-KUSUM scheme entails setting up of 25,750MW solar capacity by 2022 with the total central financial support of Rs 34,422 crore.
The proposed scheme consists of three components:
– Component-A : 10,000 megawatts (MW) of decentralised ground mounted grid-connected renewable power plants
– Component-B : Installation of 17.50 lakh standalone solar powered agriculture pumps
– Component-C : Solarisation of 10 lakh grid
Renewable power plants of capacity 500 kilowatts (kW) to 2 MW will be set up by individual farmers, cooperatives, panchayats, or farmer producer organisations (FPO) on their barren or cultivable lands.
power generated will be purchased by the distribution companies (discoms) at the feed-in tariffs determined by respective state electricity regulatory commissions
Individual farmers will be supported in installing standalone solar pumps of capacity up to 7.5 horsepower (HP). Solar PV capacity in kW equal to the pump capacity in HP is allowed under the scheme.
Individual farmers will be supported to solarise pumps of capacity up to 7.5 HP. Solar PV capacity up to two times of pump capacity in kW is allowed under the scheme. The farmer will be able to use the generated energy to meet the irrigation needs and the excess available energy will be sold to discom. This will help to create an avenue for extra income to the farmers, and for the states to meet their renewable purchase obligation (RPO) targets
For Component-B and Component-C, central financial assistance (CFA) of 30 per cent States will give a subsidy of 30 per cent Remaining 40 per cent will be provided by the farmer.
Bank finance may be made available for meeting 30 per cent of the cost. The remaining 10 per cent will be provided by the farmer.
Higher CFA of 50 per cent will be provided for northeastern states, Sikkim, Jammu & Kashmir, Himachal Pradesh, Uttarakhand, Lakshadweep and Andaman & Nicobar Islands.
Global Innovation Index
India climbed five notches on the global innovation index (GII) Rank: 52nd amongst 129 countries.
GII has been jointly developed by Cornell University, Paris-based business school Insead and WIPO. It includes more than 80 indicators exploring a broad vision of innovation, including political environment, education, infrastructure and business sophistication.
Switzerland continued to top the index in 2019. China improved its ranking to 14th from 17th last year.