Sardar Patel’s 150th Birth Anniversary

About Sardar Vallabhbhai Patel

• Birth and Early Life: Born on 31st October 1875 in Nadiad, Gujarat.
• Key Positions: First Home Minister and Deputy Prime Minister of independent India, remembered for his leadership in national integration.
• Ideology: Advocated for a united India (Ek Bharat) to create a prosperous India (Shresth Bharat). His vision resonates in the Atma Nirbhar Bharat initiative, promoting self-reliance.
• Legacy: Sardar Vallabhbhai Patel’s contributions to India’s independence, unity, and governance framework earned him the title of “Iron Man of India.”

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Sardar Vallabhbhai Patel’s Contributions

Contributions in the Freedom Movement

• Kheda Satyagraha (1918): Patel fought for farmers against unjust British taxes, integrating their cause into the national freedom struggle.
• Bardoli Satyagraha (1928): His leadership in resisting unjust land revenue hikes led the women of Bardoli to bestow upon him the title of ‘Sardar’ (leader).
• Advocacy for Social Reforms: Worked extensively against alcoholism, untouchability, caste discrimination, and promoted women’s empowerment in Gujarat and beyond.
• Indian National Congress Leadership: As INC President in 1931, he led the Karachi session, endorsing the Gandhi-Irwin Pact and passing resolutions on Fundamental Rights and Economic Policy.
• Quit India Movement (1942): His leadership mobilised the masses for the Quit India Movement, demonstrating his commitment to India’s independence.

Post-Independence Contributions

• Integration of Princely States (1947-1950): Patel’s remarkable achievement was the integration of over 560 princely states into the Indian Union, preventing potential fragmentation.
• Establishment of the Indian Administrative Service (IAS): Recognizing the importance of strong administration, Patel was key in founding the IAS, referring to it as the “steel frame” essential for India’s governance.
• Refugee Rehabilitation: Post-partition, Patel led efforts to resettle refugees from Pakistan, ensuring relief and stability for those displaced by partition.
• Reforms in Police and Judiciary: As India’s first Home Minister, Patel reformed the police and judicial systems, setting the foundation for a robust administrative framework.
• Formation of Unified India: Beyond integrating princely states, Patel ensured a unified governance structure across regions, strengthening India’s administrative integrity.

About Statue of Unity

• Built in honour of Sardar Vallabhbhai Patel.
• Inaugurated on 31st October, 2018 to mark the 143rd birth anniversary of Sardar Patel.
• Tallest statue in the world (182 meters)
• Added to the ‘Eight Wonders’ of the Shanghai Cooperation Organization (SCO) in 2020.

PM Young Achievers’ Scholarship Award Scheme for Vibrant India (PM YASASVI)

Context: The Ministry of Social Justice and Empowerment has implemented the PM Young Achievers Scholarship Award Scheme for Vibrant India (PM-YASASVI).

About PM-YASASVI Scheme

• Purpose: Supports quality education for students from Other Backward Classes (OBC), Economically Backward Classes (EBC), and Denotified Tribes (DNT) communities by easing financial burdens.
• Launch: Initiated in 2021-22, by merging the Dr. Ambedkar Post-Matric and Pre/Post-Matric Scholarship schemes.
• Objective: Aims to empower disadvantaged groups and promote educational continuity.
• Scholarship Details:
  • Pre-Matric Scholarship: For Classes 9-10 students in government schools.
  • Post-Matric Scholarship: For students in higher education (post-Class 10).
• Eligibility: Family income below Rs. 2.5 lakh for Pre-Matric Scholarships.
• Implementing Agency: Department of Social Justice and Empowerment, Ministry of Social Justice and Empowerment.

Cabinet approves ₹1,000-crore venture capital fund

Context: The Union Cabinet has approved a ₹1,000-crore venture capital fund to support firms in the space tech domain.

About the Fund

• Fund Size: ₹1,000 crore
• Objective: To support growth of Indian firms in the space technology sector
• Under aegis of: Indian National Space Promotion and Authorization Center (IN-SPACe), under the Department of Space

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Key Points

• Professional Management:
  • The fund will be professionally managed and focused on firms with high commercialisation potential.
  • Approximately 40 firms will be selected for funding.
• Funding Timeline & Deployment:
  • Planned deployment over five years:
    • ₹150 crore in 2025-26
    • ₹250 crore each in 2026-27, 2027-28, and 2028-29
    • ₹100 crore in 2029-30
• Investment Range:
  • Indicative Investment: ₹10 crore to ₹60 crore per firm, depending on:
    • Stage of company development
    • Growth trajectory
    • Potential impact on national space capabilities
  • Early-Stage Investments: Firms will receive ₹10 crore – ₹30 crore
  • Late-Stage Investments: Firms will receive ₹30 crore – ₹60 crore
• Objectives:
  • Prevent relocation: Address the trend of Indian space companies domiciling abroad.
  • Provide risk capital: Traditional lenders avoid high-tech sectors like space, hence this fund fills a financing gap.
  • Support private investment: Funded firms are expected to raise further private equity investments.
• Impact on the Indian Space Economy:
  • Target: Grow India’s space economy from $8.4 billion to $44 billion by 2033.
• Strategic Significance:
  • Strengthens India’s self-reliance in space tech and innovation.
  • Aligns with India’s vision to promote domestic industry in high-tech and emerging sectors.

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