National Startup Advisory Council
Why in news?
- The government notified the structure of the National Startup Advisory Council.
Crucial highlights:
• The council is being set up in the wake of a plethora of regulatory changes covering startups in the works to reduce time spent on tax compliance by them to less than one hour a month along with easier incorporation processes and boosting the availability of global and domestic capital.
- The council will also suggest measures to “promote ease of access to capital for startups, incentivize domestic capital for investments into startups, mobilize global capital for investments in Indian startups, keep control of startups with original promoters and provide access to global markets for Indian startups”, the commerce and industry ministry said in a release on Tuesday.
- India ranks 136 on ‘starting a business’ in the World Bank’s ease of doing business table against an overall rank of 63. Some of the measures in the works are also expected to tackle this.
- The council will facilitate public organizations to assimilate innovation with a view to improving public service delivery, promote creation, protection and commercialization of intellectual property rights, make it easier to start, operate, grow and exit businesses by reducing regulatory compliances and costs.
Pradhan Mantri Rashtriya Bal Puraskar
Why in news?
- The President of India presented the Pradhan Mantri Rashtriya Bal Puraskar 2020 at Rashtrapati Bhavan.
Key facts
- Under this scheme, awards are given every year in two categories i.e. (1) Bal Shakti Puruskar to individuals and (2) Bal Kalyan Puraskar for institutions/individuals working for children.
- Bal Shakti Puraskar is given to recognize exceptional achievements of our children in various fields i.e., innovation, scholastic achievements, social service, arts & culture, sports and bravery.
- Bal Kalyan Puraskar is given to recognize the contribution of dedicated individuals and institutions for the welfare of
children. - The award scheme is administered by Ministry of Women and Child Development.
Hindustan Fluorocarbons Ltd
Why in news?
- Union Cabinet has approved closure of Hindustan Fluorocarbons Limited (HFL), a Central Public Sector Enterprise (CPSE) under Department of Chemicals & Petrochemicals.
Key facts
- Hindustan Fluorocarbons Limited (HFL) is a subsidiary company of Hindustan Organic Chemicals Ltd. (HOCL), a Central Public Sector Enterprise (CPSE) under the administrative control of the Department of Chemicals and Petrochemicals.
- HFL is engaged in the manufacture of Poly Tetra Fluoro Ethylene (PTFF) and Chloro Di Fluoro Methane (HCFC-22 or CFM-22). HFL also uses HCFC-22 for conversion to PTFE.
Reason for Closure:
- Due to uneconomic plant capacity, conversion of HCFC-22 to PTFE is not financially viable and the company is constrained to sell higher quantity of HCFC- 22 directly as refrigerant gas.
- Under the provisions of Montreal Protocol on phasing out of ozone depleting substances, HFL’s HCFC-22 non-feedstock production quota is only about 392 MT per calendar year.
- The company has been making losses since 2013-14 and was also registered with the erstwhile Board for Industrial and Financial Construction (BIFR) as a sick company.
Mahatma Gandhi International Convention Centre
Why in news?
- India opens its first Mahatma Gandhi convention centre in Niger.
Key facts
- External Affairs Minister S. Jaishankar and President of Niger Mahamadou Issoufou on Tuesday jointly inaugurated the first convention centre established in Africa by India to honour the memory of Mahatma Gandhi.
- The External Affairs Ministry said in a statement that the establishment of the Mahatma Gandhi International Convention Centre (MGICC) is a landmark for India-Niger friendship, as also a symbol of India’s firm commitment towards Africa.
- It is the first centre to be established in Africa by India to honour the memory of Mahatma Gandhi whose 150th Birth Anniversary was observed last year.
- The convention centre has been designed as a spacious, modern and eco-friendly facility, including a 2,000 capacity Plenary Hall, to witness high-level and wide-ranging participation from African Union member states and other high-level conventions.
Daman as headquarters of the merged Union Territories
Why in news?
- Union cabinet has designated Daman as Headquarter of Union Territory of Dadra and Nagar Haveli and Daman and Diu.
About:
- Daman will be the capital of newly carved out Union Territory of Dadra and Nagar Haveli and Daman and Diu.
- Cabinet also approved amendments, extension, repeal in Acts dealing with Goods and Services Tax, Value Added Tax and Excise Duty in view of the merger.
- These amendments will lead to “Minimum Government, Maximum Governance” by way of having common taxation authorities, better delivery of services to the citizens by reducing duplication of work and improving administrative efficiency.
SAIL SERVICE scheme
Why in news?
- Steel Minister launched a voluntary service scheme of SAIL where the employees of the PSU would contribute in the areas of education, health, women empowerment and nutrition, among others.
Key facts
- The scheme, SAIL Employees Rendering Volunteerism & Initiatives for Community Engagement (SERVICE), will be operational from January 24 which is the foundation day of the PSU.
- The scheme aims the contribution of its employees in giving back to the society and work for the community. Volunteers can register on the portal of the SERVICE scheme mentioning the areas in which they are willing to work.