15-10-21 Daily-Tamilnadu-TNPSC Current Affairs

Nadu Adi Dravida and Tribal Welfare Department has reduced the budgetary allocation for the Post Matriculation Scholarship (PMS) scheme this year by Rs 48 crore.

Under this scheme, scholarship is given to Scheduled Caste (SC) and Scheduled Tribe (ST) students, who pursue medicine, engineering, arts and science, polytechnic, MBA and other professional courses.

Authorities attribute the fund reduction to drop in applications and SC/ST enrolment in higher Education institutions. This decline started in 2017 the year in which the government tweaked PMS scheme guidelines. Until then, scholarship was provided to all SC/ST students in government, aided and self-financing institutions.

As per IMF, Indias retail relaxed in September 2021, reducing to a five-month low. This was because of favourable comparison with year 2020 and moderating food prices that offset an increase in the cost of crude oil & fuel.

Consumer price inflation decreased sharply to 4.35% in September 2021 as compared to 5.3% in August. This was the third consecutive month within the Tolerance band of Reserve Bank Of India (RBI).

In September 2020, Consumer Price Index-based (CPI) inflation was 7.27%.

According to NSO Data, inflation in food basket relaxed to 0.68% in September 2021, significantly decreased by 3.11% as compared to August.

Government has tasked the Reserve Bank of India (RBI) to keep CPI-based inflation at 4%, with a tolerance band of 2% on both the sided. RBI usually factors in CPI-based inflation while launching its bi-monthly Monetary Policy.

The Department of Biotechnology launched a One Health consortium on October 14, 2021 in virtual mode.

One Health Consortium has been empowered to carry out surveillance of important viral, bacterial, & parasitic infections of zoonotic and transboundary pathogens in India.

This project will also look into use of existing diagnostic tests and development of additional methodologies to conduct surveillance and understand the spread of emerging diseases.

Central Government has given its approval to invite the expression of interest for installation of pilot 1000 MWh Battery Energy Storage System (BESS) project.

This pilot project is the joint effort of Ministry of New & and Ministry of Power.

Both the ministries have been working on this in order to provide a road map for installation of energy storage system in India.

The Battery Energy Storage System (BESS) will be set in a bid to support the ambitious goal of achieving 450 GW renewable energy target by the Ministry of New & renewable energy by 2030.

India and the United States are set to start a 15-day mega military exercise in Alaska from October 15, 2021 in a bid to further deepen bilateral military cooperation between both the countries.

Year 2021 will mark the 17th edition of the exercise Yudh Abhyas.

Exercise will be conducted at Joint Base Elmendorf Richardson in Alaska.

It will commence from October 15 and end on 29.

Indian contingent

At the exercise, the Indian contingent will comprise of 350 personnel from an infantry battalion group of Indian Army.

Background

The previous (16th) edition of the exercise took place in February 2021 in Mahajan Field Firing Ranges in Bikaner.

Ernst & Youngs (EY) (RE) Country Attractiveness Index was recently published in which India has been ranked at 3rd position.

RE Investment attractive index ranks the worlds top 40 nations with respect to attractiveness of their deployment opportunities and renewable energy

In the index, India retains its third position while US retains the top position.

China has been ranked at second position.

As per report, conditions are ripe for rapid Growth across renewables generation. The major challenge will be inadequate grid investments.

According to Index, corporate power purchase agreements were the key driver of clean energy growth in the Light that, Environment, social, and Governance measures are becoming top agenda for companies and investors.

Huge demand was there as Brussels kicked off its efforts for becoming worlds biggest issuer of sustainable debt.

Euro 12bn sale of 15-year debt attracted about Euro 135bn of orders.

This was the largest green bond deal, eclipsing the UKs 10bn debut in the month of September.

This issue of recent bond is the first of an expected 250bn of European Commission green . It makes about a third of the EUs 800bn Covid-19 recovery fund.