PM-PRANAM Scheme (Promotion of Alternate Nutrients for Agriculture Management)
- Objective: To incentivize States and Union Territories to promote the use of alternative fertilizers and balanced use of chemical fertilizers.
- Funding Mechanism:
- The scheme has no separate budget.
- It is funded through "savings of existing fertilizer subsidies" under the Department of Fertilizers.
- 50% of the subsidy savings are passed on to the state/UT as a grant.
- Utilization of Grant:
- 70% of the grant: Can be used for asset creation related to the technological adoption of alternate fertilizers and fertilizer units at village/block levels.
- 30% of the grant: Used for rewarding and incentivizing farmers, panchayats, and Self-Help Groups (SHGs) involved in awareness generation and soil health improvement.
National Quantum Mission (NQM)
- Timeline: 2023-24 to 2030-31.
- Nodal Ministry: Department of Science & Technology (DST).
- Key Targets:
- Develop intermediate-scale quantum computers with 50-1000 physical qubits.
- Establish satellite-based secure quantum communications over a range of 2000 km.
- Establish long-distance quantum communications with other countries.
- Develop inter-city quantum key distribution over 2000 km.
- Thematic Hubs (T-Hubs):
- Quantum Computing
- Quantum Communication
- Quantum Sensing & Metrology
- Quantum Materials & Devices
India-Middle East-Europe Economic Corridor (IMEC)
- Context: Signed via a Memorandum of Understanding (MoU) during the G20 Summit in New Delhi.
- Participating Nations: India, USA, UAE, Saudi Arabia, France, Germany, Italy, and the European Union.
- Corridor Structure:
- East Corridor: Connecting India to the Arabian Gulf.
- Northern Corridor: Connecting the Arabian Gulf to Europe.
- Infrastructure Layers:
| Layer | Purpose |
|---|---|
| Railroad | Provide a reliable and cost-effective ship-to-rail transit network. |
| Electricity Cable | Facilitate regional energy grid integration and efficiency. |
| Hydrogen Pipeline | Enable the transport and export of clean energy (Green Hydrogen). |
| High-speed Data Cable | Enhance regional digital connectivity and data security. |
- Strategic Impact:
- Reduces transit time between India and Europe by approximately 40%.
- Lowers logistics costs and enhances trade in energy and digital data.
- Serves as a strategic alternative to traditional maritime routes like the Suez Canal.
RBI Monetary Policy Committee (MPC) Update
- Stance: The committee decided to remain focused on "Withdrawal of Accommodation" to ensure inflation progressively aligns with the target.
- Key Policy Rates:
- Repo Rate: 6.50% (The rate at which RBI lends to commercial banks).
- Reverse Repo Rate: 3.35%.
- Standing Deposit Facility (SDF) Rate: 6.25%.
- Marginal Standing Facility (MSF) Rate: 6.75%.
- Inflation Targeting: The primary mandate is to maintain Consumer Price Index (CPI) inflation at 4% with a tolerance band of +/- 2% (i.e., between 2% and 6%).