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Current Affairs Date: 03 October 2022

National

“Ujjwal Bharat Ujjwal Bhavishya – Power @2047” Initiative

⇒ Ministry of Power and New & Renewable Energy, Government of India celebrated “Ujjwal Bharat Ujjwal Bhavishya – Power @2047” initiative of the Government of India under “Azadi ka Amrit Mahotsav”.

    • The initiative was celebrated from 25th to 30th July 2022 in association with all Power CPSEs and State DISCOMs across the Nation.

The event showcased the achievements in Power and Renewable Energy Sectors to the public, both from National and State perspectives, and also the vision of India in these sectors for 2047 when India completes 100 years of Independence.

Aim:

It was aimed to empower citizens by improving their awareness and participation in various power-related initiatives, schemes and programmes of government.

Prime Minister Shri Narendra Modi participated in the Grand Finale marking the culmination of ‘Ujjwal Bharat Ujjwal Bhavishya – Power @2047’ on 30 July 2022.

During the programme, he launched the Revamped Distribution Sector Scheme. He also dedicated and laid the foundation stone of various green energy projects of NTPC. He launched the National Solar rooftop portal.

Revamped Distribution Sector Scheme:

» The Ministry of Power’s flagship Revamped Distribution Sector Scheme is aimed at improving the operational efficiencies and financial sustainability of the DISCOMs and Power Departments.

» With an outlay of over Rs 3 lakh crore over a period of five years from FY 2021-22 to FY 2025-26:

    • The scheme aims to provide financial assistance to DISCOMs for modernization and strengthening of distribution infrastructure, focussing on the improvement of the reliability and quality of supply to end consumers.

» It also aims to reduce the AT&C (Aggregate Technical and Commercial) losses to pan-India levels of 12-15% and the ACS-ARR (Average Cost of Supply-Average Revenue Realized) gap to zero by 2024-25.

    • AT&C and ACS-ARR will be reduce by improving the operational efficiencies and financial sustainability of all state-sector DISCOMs and Power Departments.
During the programme, the Prime Minister also dedicated and laid the foundation stone of various green energy projects of NTPC worth over Rs 5200 crore.

» PM inaugurated the 100 MW Ramagundam Floating Solar Project in Telangana and the 92 MW Kayamkulam Floating Solar Project in Kerala.

    • The Ramagundam project is India’s largest floating solar PV project with 4.5 lakh ‘Made in India’ solar PV modules. Kayamkulam project is the second largest floating solar PV project consisting of 3 lakh ‘Made in India’ solar PV panels floating on water.

» PM laid the foundation stone of the 735 MW Nokh Solar Project in Rajasthan, Green Hydrogen Mobility Project in Leh and Kawas Green Hydrogen Blending with Natural Gas project in Gujarat.

    • The 735 MW Solar PV Project at Nokh, in Jaisalmer, Rajasthan is India’s largest Domestic Content Requirement based Solar project with 1000 MWp at a single location, deploying high-wattage bifacial PV Modules with a tracker system.
    • The Green Hydrogen Mobility Project at Leh, Ladakh is a pilot project and aims for five Fuel Cell Buses to be run in and around Leh. This pilot project would be the first deployment of Fuel Cell Electric Vehicles for public use in India.
    • The Green Hydrogen Blending Pilot Project at NTPC Kawas Township will be India’s first Green Hydrogen Blending Project helping in reducing the usage of natural gas.
National solar rooftop portal:

The Prime Minister also launched a national solar rooftop portal, which will enable online tracking of the process of installation of rooftop solar plants, starting from registering the applications to release of subsidies in residential consumers’ bank accounts after installation and inspection of the plant.

International

5th Session of India-Egypt Joint Trade Committee

⇒A five-member delegation from India led by Dr Srikar K Reddy, Joint Secretary, DoC, Ministry of Commerce and Industry of India called on Mrs Nevine Gamea, Minister of Trade and Industry, Arab Republic of Egypt in Cairo on 26 July 2022.

    • The agreed minutes of the 5th Session of the India-Egypt Joint Trade Committee (JTC), held on 25 July 2022, were signed between the two sides.
Co-chair:

The JTC was co-chaired by Mr Yahya El Wathik Bellah, First Under Secretary and Head of Egyptian Commercial Service (ECS) and Dr Srikar K Reddy, Joint Secretary, Department of Commerce, Ministry of Commerce and Industry of India.

» The 5th India-Egypt JTC took place in the backdrop of robust growth in trade and investment ties between India and Egypt. Bilateral trade reached a historic record high of USD 7.26 bn in FY 2021-22 which is an increase of 75% over FY 2020-21.

Discussion:
    • Both sides undertook a detailed review of recent developments in trade and investment ties and noted that the relationship, while already excellent, has huge potential to be scaled up even further.
    • Affirming mutual keenness in diversifying and expanding trade and investment linkages, both sides set an annual bilateral trade target of US$ 12 billion to be achieved within 5 years.
    • To accelerate trade, both sides agreed to expeditiously address all issues impeding bilateral trade; facilitate trade promotion between the two countries; and identify bilateral focal points to further strengthen bilateral institutional cooperation.
    • Both sides made progress in the discussion on resolution of non-tariff barriers with the Egyptian side agreeing to expedite scheduling of the visit of its technical delegations to India to address NTB issues related to export of some of the Indian agricultural products to Egypt.
    • Also, with reference to cooperation in pharmaceuticals sector, Egyptian side agreed to initiate technical discussions with concerned agency in India to take forward the proposal of inclusion of India in the list of reference countries accepted by Egyptian authorities for import of pharmaceutical products.
5th meeting of Joint Business Council:

» On 26th July 2022, 5th meeting of Joint Business Council (JBC) was jointly organized by FICCI and Egyptian Commercial Services.

    • The deliberations of the 5th Sessions of India-Egypt JTC and JBC were cordial and forward-looking, reflecting the traditionally friendly and special relations between the two countries.

Sports

Reliance joins IOA as Principal Partner

⇒ Reliance Industries Ltd joined the Indian Olympic Association as principal partner. As IOA’s principal partner, Reliance will support Indian athletes in major multi-sport events.

Reliance and Indian Olympic Association (IOA) have entered into a long-term partnership under which the conglomerate run by billionaire Mukesh Ambani will help sports federations and athletes prepare for events, such as Olympics, Asian Games and Commonwealth Games.

    • The partnership that aims to elevate the performances of Indian athletes, support the national sports federations and build the credentials of India as a global sporting nation, with an aspiration to host the Olympic Games in the future.
» Under this partnership, RIL and IOA will also establish the first-ever India House at Paris Olympics 2024.
    • In addition, the Olympic hospitality houses are a games tradition, and India’s first Olympic House at the Paris 2024 Olympics will be a historic milestone.
    • It will showcase India to the world at the pinnacle event of world sport.

Host countries for the next major ICC tournaments

⇒ The International Cricket Council (ICC) on 26 July 2022 unveiled the host countries for the next major ICC tournaments in the women’s category, with India to host the marquee 50-over 2025 World Cup.

    • The next ICC Women’s Cricket World Cup in 2025 will be hosted by India and Sri Lanka will host the ICC Women’s T20 Champions Trophy in 2027 subject to them qualifying for the event.

The hosts were selected via a competitive bidding process overseen by a Board sub-committee chaired by Martin Snedden along with Clare Connor, Sourav Ganguly and Ricky Skerritt.

Important Day

Chabahar Day

⇒ Ministry of Port, Shipping and Waterways (MoPSW) in association with India Ports Global observed ‘Chabahar Day’ to mark the Chabahar – Link to INSTC – Connecting Central Asian Markets in Mumbai on 31 July 2022.

Key Points:
    • INSTC (International North-South Transport Corridor) is India’s vision and initiative to reduce the time taken for EXIM shipments to reach Russia, Europe, and enter the central Asian markets.
    • The Chabahar Port located in Iran is the commercial transit center for the region and especially Central Asia.

Source: PIB & Other News Reports

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