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GOVERNMENT POLICIES AND SCHEMES - February 2020

Feb 2020

Feb 02, 2021

Govt. to Amend Apprenticeship Act to Enhance Opportunities for Youth

  • To enhance opportunities for youth, the government proposed to amend the Apprenticeship Act and realign the National Apprenticeship Training Scheme for a post-education apprenticeship, training of graduates and diploma holders in engineering.
  • Presenting the Budget for 2021-22 in Parliament, Finance Minister Nirmala Sitharaman said that over Rs. 3,000 crore will be set aside for this purpose.
  • The National Apprenticeship Promotion Scheme was launched in 2016.
  • The National Apprenticeship Training Scheme for providing post-education apprenticeship, training of graduates and diploma holders in Engineering shall be realigned and over Rs. 3,000 crore will be provided for this purpose.

Feb 01, 2021

Fourteen Minor Forest Produce Items Included under MSP Scheme

  • The government has decided to include 14 new minor forest produce items under the mechanism for marketing of minor forest produce through a minimum support price scheme to provide remunerative and fair prices to tribal gatherers of forest produces.
  • Newly included items are Tasar Cocoon, elephant apple dry, bamboo shoot, malkangani seed and wild dry mushroom among others.
  • The Central government had introduced a minimum support price for a selected list of minor produce items through mechanism for marketing of Minor Forest Produce through Minimum Support price and development of Value Chain of MFP Scheme in 2011.
  • It aims to provide a social safety net to these underprivileged forest dwellers, and to aid in their empowerment.

Jan 31, 2021

Start-up India Seed Fund Scheme

  • The government launched the Start-up India Seed Fund Scheme (SISFS).
  • The scheme will be launched with a corpus of Rs 945 crore.
  • The scheme was launched with the aim of providing the financial assistance to start-ups for the product trials, market-entry, proof of concept, prototype development and commercialization.
  • The funds under the Start-up India Seed Fund Scheme will be disbursed through the selected incubators across the country.
  • The scheme will be in mission mode for the year 2021-25.
  • The funds under SISFS can be availed by a start-up that are incorporated not before the 2 years ago at the time of application.
  • The Start-ups will be recognized by the DPIIT.

Jan 30, 2021

Parliament to Consider Bills to Ban Private Cryptocurrencies, Set up DFI

  • The Budget session of the Parliament will contemplate introduction of two keys payments that search to ban personal cryptocurrencies and arrange a growth finance establishment for infrastructure financing.
  • The government will introduce the 'Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 that seeks to create a "facilitative framework" for creation of official digital foreign money that might be issued by the Reserve Bank of India. The Bill will prohibit all personal cryptocurrencies in India, however will permit for sure exceptions to advertise the underlying know-how of cryptocurrency, and its makes use of.
  • The government may even introduce The National Bank for Financing Infrastructure and Development (NaBFID) Bill, 2021 by which a brand-new Development Financial Institution might be arranged.
  • Besides these, the present Parliament session may even contemplate 18 different payments, together with the Finance Bill, for passage.
  • This contains Multi-State Cooperative Societies (Amendment) Bill, 2021 that can allow co-operative societies to raise assets extra successfully by selling purposeful autonomy and professionalization.
  • The Competition (Amendment) Bill, 2021 may even be launched to carry structural modifications within the governing construction of the CCI, and to handle the wants for brand spanking new age markets.

Jan 28, 2021

India's Blue Economy Policy

  • India is working on a Blue Economy Policy that plans to boost island tourism, marine biotechnology, deep-sea mining and the ocean energy sector through innovative financing and business models, according to a draft of the policy released by the ministry of earth sciences for public feedback.
  • The highlights of the policy include an accounting framework to assess the growth of the blue economy; mapping of India's coastal zones for integrated coastal and marine spatial plans; and dealing with marine pollution, particularly by microplastics and plastics.
  • Promotion of aqua culture, seaweed and algae harvesting and sustainable marine capture; marine biotechnology for non-food sectors; a boost to the economy and employment through development of ports, fisheries, ship building and coastal and cruise tourism (including island tourism and development) are other aspects of the policy. 
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