Contents:
- Restructuring UNSC
- Reducing importance of Imported Goods
- NIRVIK
- National Braodband Mission
- ADB, GoI pact on loan to EESL
- Recycling of Ships Bill
RESTRUCTURING UNSC
India sought Bangladesh’s support in restructuring and reforming multilateral organizations such as the United Nations so that policies that affect entire world were not decided by a few countries.
India attaches highest importance to Bangladesh. India and Bangladesh have the potential to steer the Bay of Bengal region to greater prosperity.
Background
Though geopolitics have changed drastically, the Council has changed relatively little since 1945, when wartime victors crafted a Charter in their interest and awarded “permanent” veto-wielding Council seats for themselves.
Since the UN General Assembly began debating Security Council reform in 1993, several models have been put forward as viable options and several countries [including India, Germany, Brazil and Japan (G4)] have put themselves forward as candidates for permanent membership.
Why restructuring is needed?
- The Security Council is not representative of the geopolitical realities of the modern world.
- Both Africa and Latin America lack a permanent seat on the Council, while Europe is overrepresented and Asia is underrepresented.
- These problems are not easily addressed because the Permanent Five members (P5) of the Council do not want to see their power diminished.
- The central issues in Council reform are membership, transparency and working methods, and the veto.
As negotiations are currently stalled over membership expansion, P5 countries have supported bids for membership by some countries. Most recently, the US gave its support to India. France has backed Africa for a permanent seat.
Clubs seeking restructuring
- The “G4” countries have put themselves forward as the most serious candidates for permanent membership in the Council. Brazil, Germany, India and Japan have positioned themselves as leaders within the UN, but have failed to garner enough support – or quell the opposition – to ascend as permanent members.
- During the 1990’s, the Coffee Club opposed adding countries as permanent members, and instead proposed that members be elected on a regional basis to create more parity in representation.
- This effort was re-energized in the mid-2000’s by Italy under the name Uniting for Consensus, comprising the G4 countries’ regional rivals, and it has been actively working towards regionally based reform.
- Another group, self-identified as the Small Five (S-5), has put forward a series of proposals for Council reform as well. The S-5 (Costa Rica, Jordan, Lichtenstein, Singapore and Switzerland) advocates for more transparency and coordination between the Security Council and the General Assembly and Economic and Social committees.
REDUCING IMPORTANCE ON IMPORTED GOODS.
Exports Summit 2019 was organised by the Confederation of Indian Industry (CII) in New Delhi today.
It emphasized that Indian industry must be enabled and empowered to take advantage of global value chains.
- It further noted that it is important for Government and industry to work together to make industry more competitive and more proactive.
- Government is working to bring more predictability to export finance, exports scheme and productivity.
Government steps to cut imports
The government is looking to reduce imports of “non-essential” items such as toys, textiles, footwear and electronic goods to give the Make in India initiative a push
- The government is also considering the suggestion to do away with global tender for government procurement in industries where domestic demand was enough
- The government might also announce import duty hikes on some products in the budget.
- Electronic goods form a bulk of India’s trade deficit. This was due to India signing the World Trade Organization’s Information Technology Agreement, which permits duty-free import of several electronics goods
- The government is also promoting investments from international companies to set up manufacturing facilities in India.
NIRVIK
Export Credit Guarantee Corporation of India (ECGC) has introduced ‘NIRVIK’ scheme to ease the lending process and enhance loan availability for exporters
- NIRVIK’ scheme, which is also called the Export Credit Insurance Scheme (ECIS), the insurance cover will cover up to 90 percent of the principal and interest on loans borrowed.
About: Export Guarantee Corporation of India
The ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce
- Offers insurance protection to exporters against payment risks
- Provides guidance in export-related activities
- Makes available information on different countries with its own credit ratings
- Makes it easy to obtain export finance from banks/financial institutions
- Assists exporters in recovering bad debt
- Provides information on credit-worthiness of overseas buyers
NATIONAL BROADBAND MISSION
Launched by the Telecom Ministry, it envisages an investment of ₹7 lakh crore in the next 4 years from both government and Private sector to connect the country digitally at a faster pace.
- The vision of the national broadband mission is to fast-track growth of digital communications infrastructure, bridge the digital divide, facilitate digital empowerment and inclusion, and provide affordable and universal access of broadband for all
- It is part of the National Digital Communications Policy, 2018.
- 10 per cent of the funds will come from USO Fund and the balance to come from industry
- The mission will secure universal broadband access for implementation of broadband initiatives.
- Broadband access to all villages by 2022
- Facilitate universal and equitable access to broadband services for across the country and especially in rural and remote areas
- Laying of incremental 30 lakhs route km of Optical Fiber Cable and increase in tower density from 0.42 to 1.0 tower per thousand of population by 2024
GROWTH OF TELECOMMUNICATION SECTOR
ADB, India sign pact to provide $250 mn loan to EESL
Why in news?
The Asian Development Bank (ADB) has signed a USD 250 million loan agreement with the Centre to expand energy efficiency investments in India. The loan agreement to provide loan to Energy Efficiency Services Limited (EESL).
- These energy efficiency investments in India that will benefit agricultural, residential and institutional consumers
- In addition to this, USD 46 million financing will be provided from the Clean Technology Fund (CTF) that will be administered by the ADB.
- The ADB previously approved a USD 200 million loan to public sector company EESL in 2016 for demand side energy efficiency sector project that focused on efficient lighting and appliances.
About: Asian Development Bank
- It is a regional development bank
- established in 19 December 1966.
- headquartered — Manila, Philippines.
- official United Nations Observer.
Membership
The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries
Roles and functions:
- ADB defines itself as a social development organization that is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
- This is carried out through investments – in the form of loans, grants and information sharing – in infrastructure, health care services, financial and public administration systems, helping nations prepare for the impact of climate change or better manage their natural resources, as well as other areas
About: EESL
Energy Efficiency Services Limited (EESL) is a Super-Energy Service Company (ESCO), which enables consumers, industries and governments to effectively manage their energy needs through energy efficient technologies.
EESL is promoted by the Ministry of Power Government of India as a Joint Venture of four reputed public-sector undertakings – NTPC Limited, Power Finance Corporation Limited., REC Limited, and POWERGRID Corporation of India Limited.
- EESL is implementing the world’s largest non-subsidised energy efficiency portfolio across sectors like lighting, buildings, e-mobility, smart metering and agriculture at a scale which no organization has been able to achieve.
- EESL focuses on solution-driven innovation with no subsidy or capital expenditure (CAPEX). It is able to do so using its Pay-As-You-Save (PAYS) model, which obviates the need for any upfront capital investment by the consumer.
- The entire investment by EESL is recovered through monetised energy savings over a scheduled project period.
Objectives
- To carry out and promote the business of Energy Efficiency and climate change including manufacture and supply of energy efficiency services and products.
- To Provide consultancy services in the field of Clean Development Mechanism (CDM) projects, carbon markets, demand side management, energy efficiency, climate change and related areas.
- To act as resource center in the field of Energy Efficiency and take up the activities of Capacity Building, Training and other related activities.
- To carry out such other activities as offered by the Central Govt., Bureau of Energy Efficiency or any other agency related to Energy Efficiency and Climate Change.
RECYCLING OF SHIPS BILL
Why in News?
The government decided to bring this Act to provide for the regulation of recycling of ships by setting certain international standards and laying down the statutorymechanism for enforcement of such standards.
Details
The Government also acceded to the Hong Kong International Convention for Safe and Environmentally Sound Recycling of Ships, 2009 in November 2019
- The Recycling of Ships Act, 2019 restricts and prohibits the use orinstallation of hazardous materials, which applies irrespective of whether a shipis meant for recycling or not.
