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The Ministry of Finance has finalised the guidelines and funds under the Scheme for Special Assistance to States for Capital Investment 2024-25 and circulated them to the states.
Scheme Part |
Objective |
Part I | States have been allocated in proportion to their share of central taxes & duties as per the award of the 15th Finance Commission.
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Part-II | Incentivizing scrapping of government vehicles by providing incentives to States.
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Part-III | Encouraging reforms in urban planning.
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Part-IV | Promoting reforms in urban finance. |
Part-V | Increasing housing stock for police personnel in urban areas. |
Part-VI | Promoting national integration and the “Make in India” concept through the construction of Unity Malls in each State. |
Part-VII | Providing financial assistance for the establishment of libraries with digital infrastructure at the Panchayat and Ward levels. |
The Karnataka High Court has paused “precipitative action” based on the Governor’s sanction to investigate the MUDA SCAM against the Chief Minister until August 29, the next date of hearing.
Governor Sanctions Corruption Probe Against Karnataka CM Siddaramaiah Under PCA and BNSS
The government has launched a pilot project to rename 60 Fair Price Shops (FPS), or ration shops, as ‘Jan Poshan Kendra’ across Gujarat, Rajasthan, Telangana, and Uttar Pradesh.
New Digital Tools
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Public Distribution System
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Recently, the news of a two-year-old child from Meghalaya testing positive for polio has raised concern.
The Union Ministry said the case was vaccine-derived and there was no need to be alarmist about it. This is not a case of wild poliovirus, but an infection that presents in some people with low immunity.
It is a rare condition that occurs when the weakened (also called attenuated) strain of poliovirus used in the oral polio vaccine (OPV) mutates and regains the ability to cause paralysis.
Polioviruses are enteroviruses that are transmitted primarily by the faecal-oral route.
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The first successful polio vaccine for poliovirus was made by Jonas Salk in the early 1950s.
Rise in Cases
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The much delayed India’s Census (an annual decadal exercise) is likely to kick off in September 2024 as per media reports.
Researchers from ICAR-National Rice Research Institute and Pennsylvania State University developed a smaller alternative called ISDra2TnpB.
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“Jumping genes”
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Overall, TnpB-based gene-editing tools offer significant potential to improve agricultural productivity, crop quality, and food safety.
Recently, The Leader of the opposition pointed out the absence of SC/ST officers in framing the 2024 Budget.
How Have Lateral Entries Been Kept Out Of The Ambit Of Reservation?
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Eligibility
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The Multiple Indicator Survey of the National Sample Round, conducted in 2020-21, offers a detailed look at the reasons for intra and inter-State migration across India, and the problems faced by migrants
Intra-State Migration
Inter-State Migration
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‘Pull’ and ‘Push’ Factors
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The Indian fintech sector has reacted positively to the Reserve Bank of India’s (RBI’s) recent self-regulatory initiative, but several challenges must be addressed for effective implementation.
Fintech, a combination of the terms “financial” and “technology,” refers to businesses that use technology to enhance or automate financial services and processes.
Self-regulatory models are not new in India. The success of self-regulation in India’s over-the-top media sector, demonstrated by the Internet and Mobile Association of India’s code of ethics, underscores the potential advantages of self-regulation.
Feature | Benefit | Challenge |
Objective Operation and Healthy Growth |
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Phased Regulatory Compliance |
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Industry Standards and Best Practices |
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Representative Membership |
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Independent Governance |
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Member Development and Conduct |
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Collaboration with Regulators |
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Global Trends on Fintech Regulatory LandscapesGlobally, the regulatory landscapes for fintechs vary significantly, reflecting the diverse approaches nations take for balancing innovation and oversight.
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As the fintech sector in India evolves, the introduction of SROs is anticipated to play a crucial role in its development.
India has embarked on a different path, embracing a self-regulatory model where fintechs themselves are empowered to set and enforce compliance norms, thereby fostering a culture of responsible innovation.
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