National
India's first privately built rocket - Vikram-suborbital (VKS)
⇒ India’s first privately built rocket – Vikram-suborbital (VKS)- was launched by the ISRO (Indian Space Research Organisation) on 18 November 2022.
- Indian Space Research Organisation (ISRO) made history by launching successfully India’s maiden private Vikram-suborbital (VKS) rocket.
Developed by:
Non-Government Entity/ StartUp, Skyroot Aerospace Pvt Ltd (SAPL) has developed the VKS rocket.
- The VKS rocket has been named after Vikram Sarabhai, hailed as the father of India’s space sector.
- Hyderabad-based Skyroot, founded in 2018 and backed by Singapore sovereign wealth fund GIC, was the first space startup to sign an agreement to use Indian Space Research Organization (ISRO) launch and test facilities after the government opened the door to private companies.
Background:
» As a pathbreaking launch mission for the Indian private space sector, the Indian National Space Promotion and Authorization Center (IN-SPACe), an autonomous agency under the Department of Space, authorized the launch of the private rocket for the first time in India.
» Skyroot was the first StartUp to sign a MoU with ISRO for launching its rockets. Apart from being the nation’s first private launch, it was also the maiden mission of Skyroot Aerospace, named “Prarambh”.
- Mission Prarambh carried three customer payloads- Space Kidz India, Bazoomq Armenia and N-Space Tech India, which were equipped with sensors for the measurement of acceleration, pressure etc.
The mission launched Vikram-S, a sub-orbital rocket from India’s spaceport the Satish Dhawan Space Centre, Sriharikota.
About VKS:
- VKS is a single-stage solid fuelled rocket, built using advanced technologies including carbon composite structures and 3D-printed components.
- Vikram-S (VKS), a sub-orbital rocket is a single stage spin stabilised solid propellant rocket with mass of approx 550 kilograms.
- The rocket goes to the max altitude of 101 kilometres and splashes into the sea and the overall duration of launch is 300 seconds only.
National Bio Energy Programme
⇒ The Ministry of New and Renewable Energy (MNRE) organized a seminar on the “National Bio Energy Programme”, on 18 November 2022 in New Delhi.
Organized by:
MNRE organized the seminar in partnership with United Nations Industrial Development Organization (UNIDO) and Global Environment Facility (GEF), as part of ‘Azadi Ka Amrit Mahotsav’ (AKAM).
During the inaugural session, Shri R.K Singh, Union Minister of Power and New & Renewable Energy unveiled the compendium of the National Bio Energy Programme and launched the Biourja and Biogas portals.
Discussion:
- During the seminar, salient features of the National Bioenergy Programme and its implementation mechanism were discussed. Issues related to the financing of Bioenergy projects, the resource potential of biomass and waste in India along with the socio-economic benefits of the Bioenergy sector were dwelled upon.
- The seminar saw representation from the Industry, Project Developers, State Implementing Agencies Financial Institutions and officials of various stakeholder Ministries of the Government of India.
About National Bioenergy Programme:
» The Ministry of New and Renewable Energy (MNRE), Government of India has notified the National Bioenergy Programme on November 2, 2022.
- MNRE has continued the National Bioenergy Programme for the period from FY 2021-22 to 2025-26.
- The Programme has been recommended for implementation in two Phases.
- The Phase-I of the Programme has been approved with a budget outlay of Rs 858 crores.
The National Bioenergy Programme will comprise the following sub-schemes:
- Waste to Energy Programme (Programme on Energy from Urban, Industrial and Agricultural Wastes /Residues) to support the setting up of large Biogas, BioCNG and Power plants (excluding MSW to Power projects).
- Biomass Programme (Scheme to Support Manufacturing of Briquettes & Pellets and Promotion of Biomass (non-bagasse) based cogeneration in Industries) to support setting up of pellets and briquettes for use in power generation and non-bagasse based power generation projects.
- Biogas Programme to support setting up of family and medium size Biogas in rural areas.
Other Points:
- To utilize huge surplus biomass, cattle dung, and industrial and urban biowaste available in the country for recovery of energy, the MNRE has been promoting bioenergy in India since the 1980s.
- One major support extended by MNRE has been Central Financial Assistance provided for setting up of Bioenergy projects such as Biogas, BioCNG, and Power from urban, Industrial and Agricultural Waste/Residues for reducing their capital cost/ interest on loans, therefore, increasing project viability.
International
21st World Congress of Accountants (WCOA 2022)
⇒ Lok Sabha Speaker Shri Om Birla addressed the 21st World Congress of Accountants (WCOA) in Mumbai on 18 November 2022.
- He exhorted accountants to work towards a sustainable world through dialogue, discussion and collaboration and help build a better world as the drivers of economic change.
» Union Finance Minister Smt Nirmala Sitharaman addressed the World Congress of Accountants virtually.
- Union Finance Minister said that the World Congress of Accountants should focus on core themes like trust, ethics, diversity and transparency.
- The WCOA 2022 which being held in India for the first time, should come out with ideas relevant for nations, multi-national organizations which are looking for transparent accounting processes.
- Noting ‘trust’ as one of the themes of World Congress of Accountants 2022, the finance minister said trust is essential for creating sustainable livelihoods for people and sustainable manufacturing and services sectors.
About WCOA 2022:
» The WCOA 2022 is platform for exchange of ideas through interactive discussions for accounting, finance and business professionals.
Theme:
The theme of the World Congress 2022 was “Building Trust Enabling Sustainability”.
Organized by:
The WCOA 2022 was organized by the International Federation of Accountants.
» Over six thousand professionals related to accountancy attended the Congress including more than 1,800 foreign delegates from 100 nations.
About IFAC:
- IFAC, founded in 1977, is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies.
- IFAC is comprised of 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.