DAILY CURRENT AFFAIRS IAS | UPSC Prelims and Mains Exam – 18th July 2023
Archives (PRELIMS & MAINS Focus) Export Preparedness Index 2022 report Syllabus Prelims –Economy Context: Recently, NITI Aayog released the Export Preparedness Index 2022 report. About Export Preparedness Index 2022 report:- Released by: Vice Chairman, NITI Aayog. This is the third edition of the Export Preparedness Index (EPI). EPI is a comprehensive tool which measures the export preparedness of the States and UTs in India. (UPSC CSE: Export Preparedness Index 2021) Objectives of the report:– To present a comprehensive picture of a state’s and UT’s export preparedness. To highlight the achievements of states/UTs and encourage peer learning among the states/UTs. To uphold the spirit of competitive federalism. Assessment Process:- EPI assess the performance of the States and UTs across four pillars – Policy, Business Ecosystem, Export Ecosystem, and Export Performance. Each pillar is composed of sub-pillars, which in turn capture a state’s performance using relevant indicators. Policy Pillar It evaluates states’ and UTs’ performance based on its adoption of export-related policy ecosystem at a state and district level as well as the institutional framework surrounding the ecosystem. Significance of the report:- It gives an overview of the country’s sector-specific export performance. It highlights the need to develop our districts as export hubs in the country and undertakes a district-level analysis of merchandise exports in the country. The index undertakes a comprehensive analysis of States and UTs across export-related parameters in order to identify their strengths and weaknesses. Key Highlights of Export Preparedness Index 2022 report:- The report discusses India’s export performance amid the prevailing global trade context in FY22. (UPSC CSE: Export Preparedness Index 2020) The coastal states have performed well. Top performers: Tamil Nadu, Maharashtra, Karnataka, and Gujarat. The higher average of coastal states represents their better preparedness and higher contribution to national export. 73 per cent of districts in the country have an export action plan, and over 99 per cent are covered under the One District One Product scheme. One District One Product scheme: The initiative aims to select, brand, and promote at least One Product from each District (One District – One Product) of the country for enabling holistic socioeconomic growth across all regions. (UPSC CSE: One District One Product(ODOP)) It was launched by the Ministry of Food Processing Industries. 100 districts in the country are responsible for nearly 87 per cent of the country’s export. Lack of adequate transport connectivity: the report mentions that the absence of air connectivity hampers the movement of goods across regions especially in the landlocked states. Recommendations of the report:- For the states which are lagging in terms of export commission, the central government should extend support to enable them to build the necessary ecosystem to facilitate their export. Indian states need to invest in research and development for developing market-specific products and improving product quality. MUST READ: India’s Agricultural and processed food products exports SOURCE: AIR PREVIOUS YEAR QUESTIONS Q.1) Consider the following statements: (2023) Statement-I: India accounts for 3·2% of the global export of goods. Statement-II: Many local companies and some foreign companies operating in India have taken advantage of India’s ‘Production-linked Incentive’ scheme. Which one of the following is correct in respect of the above statements? Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I Statement-I is correct but Statement II is incorrect Statement-I is incorrect but Statement II is correct Q.2) In the context of finance, the term ‘beta’ refers to (2023) the process of simultaneous buying and selling of an asset from different platforms · an investment strategy of a portfolio manager to balance risk versus reward a type of systemic risk that arises where perfect hedging is not possible a numeric value that measures the fluctuations of a stock to changes in the overall stock market. Employees’ State Insurance Scheme (ESIC) Syllabus Prelims –Economy Context: As per the recent data of the Employees’ State Insurance Scheme (ESIC), more than 20 lakh new employees enrolled in ESI Scheme in May. About Employees’ State Insurance Scheme (ESIC):- The Employees’ State Insurance Scheme (ESI)is an integrated measure of social Insurance embodied in the Employees’ State Insurance Act, of 1948. (UPSC CSE: ESIC) Implementing Agency: Employees’ State Insurance Corporation. Applicability of ESI Scheme:- It applies to factories and other establishments Road Transport, Hotels, Restaurants, Cinemas, Newspaper, Shops, and Educational/Medical Institutions wherein 10 or more persons are employed. However, in some States threshold limit for coverage of establishments is still Beneficiary Selection:- Employees of the aforesaid categories of factories and establishments, drawing wages up to Rs.15,000/- a month, are entitled to social security cover under the ESI Act. ESI Corporation has also decided to enhance the wage ceiling for coverage of employees under the ESI Act from Rs.15,000/- to Rs.21,000. Coverage of the ESI Scheme:- 1952: In the beginning, the ESI Scheme was implemented at just two industrial centers in the country, namely Kanpur and Delhi Funding of ESI Scheme:- The Employees’ State Insurance Scheme (ESI Scheme) is financed by contributions from employers and employees. The rate of contribution by employer is 3.25% of the wages payable to employees. The employees’ contribution is at the rate of 75% of the wages payable to an employee. Employees’ State Insurance Corporation Establishment: 1952. It is a state-run organization set up under the Employee State Insurance Act of 1948. Objective: It is responsible for overseeing the ESI plan. Ministry: The Ministry of Labour & Employment. HQ: New Delhi. Function: It provides socio-economic protection to the worker population and immediate dependent or family covered under the ESI scheme. MUST READ: Finding Unemployment Benefits SOURCE: AIR PREVIOUS YEAR QUESTIONS Q.1) In India, which one of the following compiles information on industrial disputes, closures, retrenchments, and lay-offs in factories employing workers? (2022) Central Statistics Office Department for Promotion of Industry and Internal Trade Labour Bureau National Technical Manpower Information System Q.2) Consider the following statements with reference to India: (2023) According to the ‘Micro, Small
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