Question : Ministry of Housing & Urban Affairs launched a scheme PM SVANidhi scheme to:
facilitate working capital loans to the street vendors to help them restart their businesses which were adversely impacted due to the lockdowns imposed during COVID-19 pandemic
reduce poverty and vulnerability of the urban poor households by enabling them to access gainful self employment
address urban housing shortage among the economically weaker sections
provide a guideline for cities and towns to ensure that no untreated waste-water is released into the environment

• Ministry of Housing & Urban Affairs (MoHUA) is organising ‘SVANidhi Mahotsav’ – a cultural festival for celebrating the success of PM SVANidhi Scheme and the beneficiary street vendors & their families, from 09 July to 31 July, 2022 in 75 cities across 33 States/UTs of the country. 
• Ministry of Housing & Urban Affairs launched a scheme PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) to empower Street Vendors by not only extending loans to them, but also for their holistic development and economic upliftment.
• The PM SVANidhi scheme was launched on June 1, 2020 to facilitate working capital loans to the street vendors to help them restart their businesses which were adversely impacted due to the lockdowns imposed during COVID-19 pandemic.
• The scheme intends to facilitate collateral free working capital loans of up to INR10,000/- of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban/rural areas.
• The PM SVANidhi scheme offers incentives in the form of:
  •  interest subsidy @ 7% per annum on regular repayment of loan
  • cashback upto INR1200/- per annum on undertaking prescribed digital transactions
  • eligibility for enhanced next tranche of loans

Source: PIB

Question : With reference to the National Apprenticeship Promotion Scheme (NAPS), which of the following statements is/are correct?

1. It was launched in 2016 to promote apprenticeship training in India and to provide financial support to establishments undertaking apprenticeship.
2. Sharing of basic training cost up to a maximum of Rs. 7,500 per apprentice is one of the components of this scheme.
3. It is not part of the Direct Beneficiary Transfer (DBT) scheme.

Select the correct answer using the codes given below:
1 and 2 only
2 only
1 and 3 only
3 only

• Recently, the Ministry of Skill Development and Entrepreneurship (MSDE) announced that the National Apprenticeship Promotion Scheme (NAPS) will be a part of Direct Beneficiary Transfer (DBT) scheme, providing direct government benefits to all apprentices.

Statement 1 is correct:

• National Apprenticeship Promotion Scheme (NAPS) was launched on August 19, 2016, to promote apprenticeship training in the country and to provide financial support to establishments undertaking apprenticeship. The program aims to motivate employers to hire apprentices and aid them in discovering the right job roles while maximising their potential through in-depth skill development. 

Statement 2 is correct:
The scheme has the following two components

• Sharing of 25% of prescribed stipend subject to a maximum of Rs. 1500/- per month per apprentice with the employers.
• Sharing of basic training cost up to a maximum of Rs. 7,500 per apprentice.

Statement 3 is not correct:

• Recently, the Ministry of Skill Development and Entrepreneurship (MSDE) made National Apprenticeship Promotion Scheme (NAPS), a part of Direct Beneficiary Transfer (DBT) scheme, providing direct government benefits to all apprentices. Earlier companies used to pay apprentices the entire amount and then seek reimbursement from the government.
• With the launch of the DBT scheme, the government will directly transfer its contribution to bank accounts of apprentices through National Skill Development Corporation (NSDC), 25% of the stipend payable up to Rs. 1500/- per month.

Source: PIB    Apprenticeship Training

Question : With reference to the intellectual property right, which of the following items has/have geographical indication tag in India?

1. Gulabi Meenakari
2. Chunar Glaze Pottery
3. Kashmiri Hand Knotted Carpet

Select the correct answer using the codes given below:
1 only
2 and 3 only
1 and 3 only
1, 2 and 3

During the G7 meet in Germany, Prime Minister Narendra Modi gifted a gulabi meenakari brooch and cufflink set to US President Joe Biden.  Gulabi Meenakari is a GI tagged art form of Varanasi in Uttar Pradesh. A piece of pure silver is moulded into a base form, and the chosen design is embossed in the metal.
Gulabi Minakari is one of the rarest crafts in India that is practiced in the by lanes of Varanasi, near Gai Ghat. Minakari is an art form from Persia and involves colouring the surface of metals by fusing different colours. This art was brought to the city of Varanasi by Persian enamellists during the Mughal era around the early 17th century. It has a GI tag.
Chunar Glaze Pottery has a GI tag. It is associated with Mirzapur, Uttar Pradesh.
Kashmiri Hand Knotted Carpet: The origin of hand knotted carpets locally known as "Kal baffi" dates back to 15th century after which it progressively attained the high degree of perfection. It is said that Sultan Zain-ul-Abidin brought carpet weavers from Persia and central Asia into Kashmir to train the local inhabitants. It has a GI tag. At, recent G7 meeting, a handmade knotted silk carpet from Kashmir was gifted to Canadian PM Justin Trudeau by the Prime Minister of India.

Source:
Indian Express
GI Tag 

Question : An increase in interest rates paid on small savings schemes indicates which of the following?

1. reduction in the government’s reliance on market borrowings
2. greater inflows into the National Small Savings Fund (NSSF)

Select the correct answer using the codes given below:
1 only
2 only
Both 1 and 2
Neither 1 nor 2

• Economists expect the Centre to raise the interest rates paid on small savings schemes for the July to September 2022 quarter, with the yields on 10-year government securities hitting a four-year high of 7.6% earlier this month.
• Raising rates on small savings could also help the government reduce its reliance on market borrowings this year. This will also encourage greater inflows into the National Small Savings Fund (NSSF), which can then be tapped more aggressively for partially funding the fiscal deficit while proportionately reducing the Centre’s record market borrowing plan for FY23.
• The interest rates on small savings schemes are reviewed every quarter by the government. The formula to arrive at the interest rates for small savings scheme was given by the Shyamala Gopinath Committee. The committee had suggested that the interest rates of different schemes should be 25-100 bps higher than the yields of the government bonds of similar maturity.

Source: The Hindu

Question : 'CHAMPIONS Portal’ has been launched for:

helping and promoting the Micro, Small and Medium Enterprises (MSMEs).
eradicating child labour to achieve the target of child labour free society.
promoting financial inclusion in the country.
providing necessary information that is related to India’s foreign trade.

• The World MSME Day, observed annually on June 27 since 2017, serves as a reminder to governments to create a business climate in which small companies also have an opportunity to thrive.
• The Union Ministry of MSME has launched CHAMPIONS portal in 2020. It is a Technology driven Control Room-Cum-Management Information System.  The system utilising modern ICT tools is aimed at assisting Indian MSMEs march into the big league as National and Global CHAMPIONS. The CHAMPIONS stands here for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. Accordingly, the name of the system is CHAMPIONS.
• Three basic objectives of the CHAMPIONS:
  •  To help the MSMEs in this difficult situation in terms of finance, raw materials, labour, permissions, etc.
  •  To help the MSMEs capture new opportunities in manufacturing and services sectors.
  •  To identify the sparks, i.e., the bright MSMEs who can withstand at present and become national and international champions.

Question :

1. The present share of Direct Tax is 52% of the total tax receipt.
2. The direct tax collection this year has surpassed the indirect tax collection

1 only
2 only
Both 1 and 2
Neither 1 nor 2

• Both Statement are correct

For better understanding, read more: CBDT Aims to Lift Tax-GDP Ratio to 15-20%

Question : Consider the following statements regarding Zero Budget Natural Farming (ZBNF):

1. Crops are raised without using fertilizers & pesticides
2. Helps in retaining soil fertility
3. Ensures zero cost of production

Which of the statements given above are correct?

1 only
1 and 2 only
2 annd 3 only
1, 2 and 3

• All the statements are correct.

For related information, see our Hawk's Eye Coverage: A Roadmap to scale up ‘Natural Farming’ by NITI Aayog

Question : Consider the following statements regarding the REWARD Project:

1. REWARD is one of the largest water management programs around the world.
2. This project Is a joint initiative of the Department of Land Resources, Ministry of Urban Development in association with the World Bank
3. The International Bank for Reconstruction and Development (IBRD) will provide financial support to this project.

Which of the statement/s given above is/are NOT correct?

1 only
2 only
1 and 3 only
2 and 3 only

Rejuvenating Watersheds for Agricultural Resilience through Innovative Development Programme (REWARD)

• The World Bank, the Government of India, the State Governments of Karnataka, and Odisha, have signed a deal for the Rejuvenating Watersheds for Agricultural Resilience through Innovative Development Programme to help national and state governments adopt improved watershed management practices to help farmers become more resilient to climate change, improve incomes, and promote higher productivity.
• Rejuvenating Watersheds for Agricultural Resilience through Innovative Development (REWARD) is a project which is being implemented in three-four Indian states. It is planned as a six-year project and is one of the largest water management programs around the world.
• Hence, statement 1 is correct.
• This project Is a joint initiative of the Department of Land Resources, Ministry of Rural Development in association with the World Bank.
• Hence, statement 2 is incorrect.
• World Bank’s lending arm, the International Bank for Reconstruction and Development (IBRD) will provide financial support of USD 115 million to this project.
• Hence, statement 3 is correct.
• The loan has a 15 years’ maturity period with 4.5 years’ grace period.
• Karnataka will receive USD 60 million, Odisha will receive USD 49 million while the remaining USD 6 million will be utilized by the Indian Government’s Department of Land Resources.

Question :
1 only
2 only
Both 1 and 2
Neither 1 nor 2

GDP

• GDP covers all productive activity for producing goods and services, without duplication. In effect it adds apples and oranges, tractors and sickles, trade, transport, storage and communication, real estate, banking and government services through the mechanism of value.
• The System of National Accounting (SNA) is designed to measure production, consumption, and accumulation of income and wealth for assessing the performance of the economy.
• GDP data influence markets, signaling investment sentiments, flow of funds and balance of payments.
• The input-output relations impact productivity and allocation of resources; demand and supply influences prices, exchange rates, wage rates, employment and standard of living, affecting all walks of life.
• Statement 1 & 2 are correct

Question :

1. Regional Rural Bank (RRBs) are regulated by Reserve Bank of India 
2. Regional Rural Bank was formed to serve the credit needs of the small and marginal farmers
3. Regional Rural Bank was formed post economic reform of the year 1991

1 and 2 only
2 only
3 only
​1, 2 and 3

​Regional Rural Bank (RRBs)

• Regional Rural Bank (RRBs) was set up as state-sponsored, regionally based and rural oriented institutions under the Regional Rural Banks Act, 1976. RRBs are regulated by Reserve Bank of India and are supervised by NABARD. 
• Therefore, statement 1 is correct
• The mandate of RRBs is to: 

1. Serve the credit needs of the small and marginal farmers, agricultural labourers, socio-economically weaker section of population for development of agriculture, trade, commerce, industry and other productive activities. 
2. Reduce regional imbalances and increase rural employment generation activities. 
3. Develop such measures which could restrict the outflow of rural deposits to urban areas.

• Therefore, statement 2 is correct
• The Regional Rural Banks (RRBs) were established in 1975 under the provisions of the Ordinance promulgated on 26th September, 1975 and Regional Rural Banks Act, 1976 with a view to developing the rural economy by providing money for the purpose of development of agriculture, trade, commerce, industry and other productive works related to village.
• Therefore, statement 3 is incorrect