EXPECTED CREDIT POTENTIAL OF KARNATAKA BY NABARD
NABARD has projected Karnataka’s credit potential at ₹23.97 lakh crore for 2024-25, with the agriculture sector accounting for 46%.
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- The MSME sector is allocated ₹1.58 lakh crore (40%), and other priority sectors receive ₹0.54 lakh crore (14%).
- The credit estimates were derived from Potential Linked Credit Plans (PLPs) formulated for all 31 districts, following extensive consultations with government departments, banks, and stakeholders. T. Ramesh, Chief General Manager at NABARD, highlighted the state’s increased land holdings, reaching 86.80 lakh in 2015-16, with 80% attributed to small and marginal farmers.
NABARD also sanctioned ₹290 crore under the Micro Irrigation Fund and initiated the Farmers Producers Organisations (FPOs) Accelerator Project for better linkages among 30 FPOs. Additionally, the computerization of 5,491 Primary Agricultural Cooperative Societies is underway to enhance services for member farmers.
ELECTION COMMISSION NATIONAL AWARDS FOR TWO FEMALE RETURNING OFFICERS
Two women IAS officers from Karnataka, Shikha C. and Divya Prabhu GRJ, were honored with the national award by the Election Commission for their exemplary work in electoral practices. The prestigious awards were presented by the President of India, Droupadi Murmu, in Delhi on Thursday during the 14th National Voters’ Day function.
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- Shikha C. currently serves as the Commissioner of Commercial Taxes, while Divya Prabhu GRJ is awaiting her posting after being transferred as the Deputy Commissioner of Chitradurga district. Both officers were recognized for their outstanding performance in conducting elections in the previous year.
- Shikha C. received accolades for her work in election expenditure management. Under her leadership, a strategic initiative was implemented to monitor and intercept the movement of goods intended for distribution as freebies. This was achieved through the establishment of an e-ARM Cell (Election Analytics and Risk Management Cell). The team utilized the E-way bill analytics tool of the GSTN to red-flag goods susceptible to being distributed as freebies. The data obtained was then analyzed to identify any violations of the model code of conduct.
- The e-ARM cell played a crucial role in providing tactical inputs to district-level field enforcement teams. These teams, in turn, intercepted vehicles suspected of carrying freebies and checked for any violations of the code of conduct. The innovative strategies employed by Shikha and her team were reflected in the monetary value of seizures reported by the Department of Commercial Taxes (Karnataka) during the assembly polls, attesting to their success in uncovering, deterring, and preventing election-related malpractices.
The awards ceremony also acknowledged the contributions of other state and district-level officers, as well as government departments and media organizations, for their valuable efforts in promoting voters’ awareness and ensuring the success of electoral processes.
PRE-SEED DEEP-TECH ACCELARATOR
NSRCEL, IIM Bangalore, and SIDBI have collaborated to inaugurate a pre-seed deep-tech accelerator fund.
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In partnership with credit rating agency CRISIL and Credit Information Company TransUnion CIBIL, SIDBI has introduced “CriSidEx” and “MSME Pulse” initiatives. SIDBI plays a pivotal role in supporting the Government of India’s initiatives, functioning as a nodal agency for schemes related to the development of MSMEs, including Make in India and Startup India.
The IDBI Bank Limited, established in 1964 as the Industrial Development Bank of India, operates as a development finance institution under the ownership of the Life Insurance Corporation of India and the Government of India. In March 2019, the government directed LIC to infuse capital into IDBI Bank due to high NPAs and capital adequacy issues, also assigning LIC to manage the bank to meet regulatory requirements.
SIDBI, the apex regulatory body for micro, small, and medium enterprise finance companies, serves as the Principal Financial Institution for promoting, financing, and developing the MSME sector. Established in 1990, it operates under the Ministry of Finance, Government of India, headquartered in Lucknow. SIDBI provides refinance facilities, engages in term lending and working capital finance to industries, and coordinates similar activities among institutions. It is one of the five All India Financial Institutions regulated by the Reserve Bank of India, with a focus on enhancing accessibility and services for MSMEs through initiatives like the ‘UdyamiMitra’ Portal and the development of sentiment indices like CriSidEx.
PRELIMS BYTES:
- In the 2023 Corruption Perceptions Index by Transparency International, India holds the 93rd position out of 180 countries, scoring 39. This marks a decline from its 2022 score of 40, where it ranked 85th. Denmark leads the index with a score of 90, followed by Finland (87) and New Zealand (85). India shares its score and rank with Kazakhstan, Lesotho, and Maldives. Notably, the global CPI average remains unchanged at 43 for the twelfth consecutive year.
- The 69th Hyundai Filmfare Awards (Filmfare Awards 2024) took place at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat, from January 27th to 28th, 2024, in collaboration with Gujarat Tourism, Government of Gujarat.
- Vidhu Vinod Chopra’s film “12th Fail” secured victory at the 69th Filmfare Awards 2024, claiming 5 awards, including Best Film and Best Director.
- Sandeep Reddy Vanga’s movie “Animal” was also a significant winner, earning 5 awards, including Best Actor In A Leading Role (Male) and Best Music Album. Ranbir Kapoor and Alia Bhatt were named Best Actors at the prestigious event.
- The inaugural session of the India-Saudi Arabia joint military exercise, named “SADA TANSEEQ,” commenced on January 29, 2024, at Mahajan, Rajasthan, and will continue until February 10, 2024.
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- This collaborative effort involves significant participation from both the Royal Saudi Land Forces and the Indian Army, aiming to enhance interoperability, camaraderie, and mutual understanding among the troops.
- ‘SADA TANSEEQ’ has the primary objective of providing intensive training to personnel from both nations in executing Joint Operations within the Semi-Desert terrain, aligning with Chapter VII of the United Nations (UN) Charter. The exercise emphasizes the exchange of best practices in tactics, techniques, and procedures for conducting operations in the sub-conventional domain.
- The Saudi Arabian contingent, consisting of 45 personnel, represents the Royal Saudi Land Forces, while the Indian Army contingent, also comprising 45 personnel, is represented by a Battalion from the Brigade of the Guards (Mechanised Infantry).
- On January 26, 2024, the world observed the inaugural United Nations International Day of Clean Energy, aiming to raise awareness and inspire collective efforts for a just and inclusive shift to clean energy, benefiting both people and the planet. Coinciding with this day is the founding anniversary of the International Renewable Energy Agency (IRENA), marking its 15th year on January 26, 2024. The United Nations General Assembly officially designated January 26 as the International Day of Clean Energy through the adoption of resolution A/RES/77/327 on August 25, 2023.
- 16th Finance Commission members
President Droupadi Murmu has appointed four members, including three full-time members and a part-time member, to the 16th Finance Commission (FC). This constitutional body is responsible for recommending the distribution of federal taxes among states. The appointed members are as follows:
- Ajay Narayan Jha: Former Secretary of the Department of Expenditure and Former Member of the 15th FC.
- Annie George Mathew: Former Special Secretary of the Department of Expenditure.
- Niranjan Rajadhyaksha: Executive Director of the policy consultancy firm Artha Global.
- Soumya Kanti Ghosh: Group Chief Economic Adviser at the State Bank of India (SBI).
The Ministry of Finance, headed by Union Minister Nirmala Sitharaman (Rajya Sabha Karnataka), includes Ministers of State Pankaj Chaudhary (Constituency: Maharajganj, Uttar Pradesh) and Dr. Bhagwat Kishanrao Karad (Rajya Sabha Maharashtra).
