20 May 2023 : PIB
PRESS INFORMATION BUREAU
20-May-2023
Daily Current Affairs For UPSC ,The PIB ( Press Information Bureau )
1. PM hails India’s Defence production crossing Rs 1 lakh crore mark for the first time ever.
Topic: GS3
Context:
- Prime Minister Narendra Modi praised India’s defense production surpassing Rs 1 lakh crore mark for the first time.
- The Prime Minister highlighted the country’s determination to further expand and excel in the defense sector.
Issue:
Significance of indigenous defence production:
- Strategic self-reliance: Indigenous defense production reduces dependence on foreign countries for defense equipment and technologies, enhancing national security and strategic autonomy.
- Economic growth and job creation: Developing the defense industry domestically stimulates economic growth, fosters innovation, and generates employment opportunities in high-tech sectors.
- Cost-effectiveness: Indigenous production often leads to cost savings compared to importing defense equipment, as it eliminates expenses related to import duties, transportation, and technology transfer.
- Technological advancement: Encouraging indigenous defense production drives research and development efforts, fostering technological advancements and capabilities in critical defense technologies.
- Knowledge and skill development: Building a robust defense production ecosystem encourages the acquisition and development of specialized knowledge, expertise, and skills, contributing to human resource development.
- Export potential: A strong indigenous defense industry can enable India to become a global exporter of defense equipment, generating foreign exchange and enhancing diplomatic ties with partner countries.
- Securing intellectual property rights: Developing defense capabilities domestically allows the country to safeguard its intellectual property rights and maintain control over sensitive technologies.
- Rapid deployment and customization: Indigenous production enables quicker acquisition and deployment of defense equipment, along with customization to meet specific operational requirements.
- National pride and confidence: Promoting indigenous defense production instills a sense of national pride and confidence in the country’s defense capabilities, inspiring the armed forces and the general public alike.
2. India Achieves 47 % growth in Coal Production during last Nine Years
Topic: GS3.
Context:
- India’s coal production in the last nine years has increased by 47% to reach 893.08 Million Tonnes (MT).
- The supply of coal has also grown significantly, reaching 877.74 MT, with a growth rate of 45.37%.
- The coal production of 893.08 MT in FY 2023 marks a major leap and is the highest in the history of the country.
Issue:
Importance of increasing domestic coal production:
- Energy security: Increasing domestic coal production enhances energy security by reducing reliance on imported coal and ensuring a stable supply of fuel for power generation and industrial sectors.
- Economic growth: A boost in domestic coal production contributes to economic growth by supporting various industries, including power generation, steel, cement, and other sectors dependent on coal as a primary energy source.
- Job creation: Expanding coal production creates employment opportunities in mining, transportation, and associated industries, providing livelihoods for a significant number of people.
- Reduced import dependency: Higher domestic coal production helps reduce import dependency, saving foreign exchange and strengthening the country’s balance of payments.
- Infrastructure development: Enhanced coal production drives the development of associated infrastructure such as coal mines, transportation networks, and logistics, promoting overall infrastructure growth.
- Ancillary industries: Increasing coal production supports the growth of ancillary industries involved in mining equipment manufacturing and coal-based power plant technology.
- Power sector stability: Adequate domestic coal production ensures the availability of coal for power plants, reducing the risk of power shortages and ensuring a stable electricity supply.
- Revenue generation: Higher coal production contributes to increased revenue for the government through taxes, royalties, and dividends, which can be utilized for public welfare programs and infrastructure development.
3. India’s fish production touches a record 162.48 lakh tons per annum in 2021-22.
Topic: GS3 – Economies of Animal Rearing
Context:
- India is the 3rd largest fish producing country with about 8% share in global fish production.
- India ranks 2nd in aquaculture production and is one of the top cultured shrimps producing nations in the world.
Issue:
- The fisheries sector provides livelihood, employment, and entrepreneurship opportunities to over 8 crore fishers and fish farmers, along with several lakhs of people in the value chain.
- Fish is an affordable and rich source of healthy animal protein and omega-3 fatty acids, contributing to food security and nutrition in India.
- The fisheries sector plays a crucial role in mitigating hunger and malnutrition, offering immense potential for improving the overall well-being of the population.
- The government has implemented various schemes and programs such as the Pradhan Mantri Matsya Sampada Yojana (PMMSY) and Kisan Credit Card (KCC) to support the development of the fisheries sector and uplift the livelihoods of fishers and fish farmers.
- The Sagar Parikrama Yatra, an initiative by the Government of India, aims to resolve issues faced by fishers and stakeholders and promote the economic upliftment of coastal communities.
- The Sagar Parikrama Yatra Phase V recently concluded in Goa, where discussions took place, beneficiaries were felicitated, and schemes related to fisheries were launched.
Pradhan Mantri Matsya Sampada Yojana (PMMSY):
- PMMSY is implemented by the Department of Fisheries under the Ministry of Fisheries, Animal Husbandry, and Dairying.
- The scheme aims to enhance fish production, improve fisheries infrastructure, and create employment opportunities in the fisheries sector.
- PMMSY focuses on sustainable and responsible fisheries development, ensuring the socio-economic development of fishing communities.
- The scheme provides financial assistance and incentives to fishermen, fish farmers, and other stakeholders in the fisheries sector.
- PMMSY promotes the adoption of modern fishing techniques, aquaculture practices, and post-harvest infrastructure development.
- The scheme also focuses on the development of inland fisheries, marine fisheries, and aquaculture, with an emphasis on promoting fish exports.
- PMMSY aims to increase fish production to 22 million metric tons by 2024-25 and double fishers’ incomes.
- The scheme supports the establishment of fish markets, cold chains, fish processing units, and other necessary infrastructure.
- It also includes provisions for capacity building, training, and extension services to enhance the skills and knowledge of fishers and fish farmers.
4. Chemicals & Petrochemicals demand in India expected to nearly triple and reach USD 1 trillion by 2040.
Topic: GS1 – Location of Industries
Context:
- Union Minister of Petroleum & Natural Gas and Housing & Urban Affairs, Hardeep Singh Puri, stated that 25% of global energy demand growth in the next two decades will come from India.
Issue:
- The Indian Chemicals and Petrochemicals sector currently has a market size of USD 190 billion and can transform India into a global manufacturing hub.
- India is the sixth largest chemicals producer in the world, the fourth largest in Asia, and exports chemicals to more than 175 countries.
- The Indian petrochemical industry is expected to contribute around 10% to the incremental growth in global petrochemical demand.
- The Indian chemical sector continues to grow at a rate of 1.2-1.5 times the GDP, and investments worth more than USD 87 billion are expected in the coming decade.
- India is projected to account for over 10% of the world’s growth in petrochemicals.
- The government has implemented policies such as 100% FDI, PCPIR zones, and infrastructure development to boost the petrochemical sector.
- The proposed new PCPIR policy aims to attract an investment of over INR 34 lakh crores (USD 420 billion) for the sector.
- The Petrochemical Sector offers potential investment opportunities of USD 30 billion in the next decade.
- The demand for chemicals and petrochemicals in India is expected to reach USD 1 trillion by 2040.
- About 80% of India’s petrochemicals capacity is integrated with petroleum refineries, giving India an advantage in terms of petrochemical feedstock certainty.
- India has increased its refining capacity to 251.2 MMTPA, making it the fourth largest in the world.
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