26 July 2023 : PIB
PRESS INFORMATION BUREAU
26-July-2023
Daily Current Affairs For UPSC ,The PIB ( Press Information Bureau )
1. Constitution of Farmer Producer Organizations.
Topic: GS3 – agriculture sector.
Context:
- The Government of India launched the Central Sector Scheme for “Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs)” in 2020.
More about the news:
- The scheme has a total budgetary outlay of Rs. 6865 Crores.
- The aim of the scheme is to enhance farmers’ bargaining power, leverage economies of scale, reduce the cost of production, and increase farmers’ incomes through the aggregation of agricultural produce.
- FPOs receive financial assistance of up to Rs. 18.00 lakh per FPO for a period of 3 years.
- FPOs can access a credit guarantee facility of up to Rs. 2 crore of project loan per FPO from eligible lending institutions.
What are farmer producer organisations?
- Farmer Producer Organizations (FPOs) are collective entities formed and owned by farmers to improve their socio-economic status and address agricultural challenges.
- FPOs are registered under relevant laws and consist of small and marginal farmers who pool their resources and produce to achieve economies of scale.
- They aim to enhance farmers’ bargaining power in the market, access better inputs, technology, and credit facilities.
- FPOs engage in collective farming, procurement, processing, and marketing of agricultural produce.
- They promote sustainable agricultural practices and help farmers adopt modern techniques for increased productivity and better quality.
- FPOs play a crucial role in reducing post-harvest losses, ensuring fair prices, and increasing farmers’ incomes.
- These organizations can also serve as a platform for knowledge-sharing, skill development, and capacity building among farmers.
Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1942484
2. Department of Consumer Affairs organizes a brainstorming session on Virtual Digital Assets
Topic: GS3 – Science and technology.
Context:
- The Department of Consumer Affairs organized a brainstorming session on Virtual Digital Assets (VDAs) and Web3 sector to discuss consumer protection in the Web3 ecosystem.
- The Secretary of DoCA, Shri Rohit Kumar Singh, highlighted the challenges in enforcing laws and regulations in Web3 due to the dissolution of identities and decentralized nature.
- The session focused on understanding the World Wide Web, Virtual Digital Assets, and background technologies, as well as emerging risks for consumers from Virtual Digital Assets and Web3.
What are Virtual Digital Assets:
- Virtual Digital Assets (VDAs) are digital representations of value that can be traded, stored, or transferred electronically.
- They are intangible and exist only in digital form, lacking physical counterpart like traditional currency or commodities.
- VDAs are typically based on blockchain technology, enabling secure and transparent transactions.
- Common examples of VDAs include cryptocurrencies like Bitcoin, Ethereum, and stablecoins.
- VDAs offer borderless transactions, fast settlements, and potential anonymity, attracting users and investors globally.
- However, regulatory frameworks for VDAs vary by country, and concerns around consumer protection, fraud, and market manipulation persist.
- As the Web3 sector expands, understanding the risks and legal implications associated with VDAs becomes crucial.
Source: https://pib.gov.in/PressReleseDetail.aspx?PRID=1942491
3. Fame India Scheme
Topic: GS2 – Government initiatives.
More information about Fame India Scheme:
- Scheme Name: Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme Phase-II
- Implemented By: Ministry of Heavy Industries
- Duration: Five years, commencing from 1st April 2019
- Total Budgetary Support: 10,000 crore
- Objective: To promote the adoption of Hybrid and Electric Vehicles in India
- Focus Areas: Electrification of public & shared transportation
- Support Mechanism: Demand incentives for the purchase of electric vehicles
- Additional Support: Creation of charging infrastructure
- Overall Goal: To reduce pollution and promote sustainable transportation in the country.
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