·       This is a one-time scheme announced in Budget 2023 and will remain available for a two-year period, i.e., up to March 2025.

·       It is a risk-free scheme dedicated towards women’s and girls’ of all age groups.

·       The scheme offers a maximum deposit facility of up to Rs 2 lakhin the name of women or girls for a tenor of 2 years.

·       Benefit: It will encourage more women to adopt formal financial saving instruments.

Features:

Eligibility:

·       Any individual women.

·       The minor account can also be opened by the guardian.

Investment:

·       The deposit amount under this scheme is limited.

·       A minimum of Rs. 1000 and any sum in multiples of one hundred rupees may be deposited in an account subject to a maximum of Rs. 2 lakhs.

·       Interest Rate: It offers a fixed interest rate of 7.5 percent. Interest shall be compounded on a quarterly basis and credited to the account.

·       The Maturity period/Lock-in period of the scheme is 2 years from the date of opening of the account.

·       However, the account holder can withdraw up to 40% of the account balance after one year from the account opening date as a partial withdrawal.

·       There is a provision of multiple account opening under this scheme with a condition that a woman can open a second MSSC account after a minimum gap of three months from the opening of the existing account.

·       However, the total deposit, including all the accounts, should not exceed Rs 2 lakh.

·       There are no tax benefits.

·       It aims to ensure holistic development of agriculture and allied sectors by allowing states to choose their own agriculture and allied sector development activities as per the district/state agriculture plan.

·       Till 2013-14, the scheme was implemented as an Additional Central Assistance (ACA) to State Plan Scheme with 100% central assistance.

·       It was converted into a Centrally Sponsored Scheme in 2014-15 also with 100% central assistance.

·       Since 2015-16, the funding pattern of the scheme has been altered in the ratio of 60:40 between Centre and States (90:10 for North-Eastern States and Himalayan States).

·       For Union Territories the funding pattern is 100 % central grant.

·       It incentivizes states to increase public investment in agriculture and provides flexibility to states in project selection and implementation.

·       State Level Sanctioning Committee (SLSC) being headed by the Chief Secretary of the concerned State and it approves projects.

Sub schemes of PKVY are:

·       Bringing Green Revolution to Eastern India,

·       Drought mitigating interventions for Additional Fodder Production Programme (AFDP),

·       Saffron Mission and Crop diversification Program,

·       Livestock Health & Disease Control / Foot & Mouth Disease (FMD) and

·       Targeting Rice Fallow Areas (TRFA) and Beekeeping Mission.

·       Innovation and Agri-Entrepreneurship Development – It is a component under the Rashtriya Krishi Vikas Yojana.

·       It was launched with the objective of promoting innovation and agri-entrepreneurship by providing financial support and nurturing the incubation ecosystem.

·       Under this programme, start-ups are encouraged to use innovative technologies to resolve challenges faced in agriculture and allied sectors.

·       Electricity (Supply) Act, 1948 was repelled and substituted by the electricity act, 2003.

·       Functions and duties – It advise the Central Government on the matters relating to the national electricity policy.

·       It formulates short-term and perspective plans for development of the electricity system and co-ordinate.

·       To specify the technical standards for construction of electrical plants, electric lines and connectivity to the grid.

·       To specify the safety requirements for construction, operation and maintenance of electrical plants and electric lines.

·       To promote measures for advancing the skill of persons engaged in the electricity industry.

·       The Union Government may appoint any person, eligible to be appointed as Member of the Authority, as the Chairperson of the Authority, or designate one of the full time Members as the Chairperson of the Authority.

·       The Chairperson and all the Members of the Authority shall hold office during the pleasure of the Union Government.

·       The Chairperson shall be the Chief Executive of the Authority.

·       Hydro Pumped Storage Projects (PSPs) – Are hydroelectric power systems that use two reservoirs at different elevations to store energy and generate electricity.

·       India needs Hydro Pumped Storage Projects (PSPs) to support faster energy transition with large scale integration of renewable capacity in the country and also ensuring energy security.

·       It acts as a shield against arbitrary actions by the government and upholds the principles of natural justice.

·       The article states that no government employee can be dismissed, removed, or reduced in rank except after an inquiry in which they have been informed of the charges against them and given a reasonable opportunity to defend themselves.

·       Under Article 311, a civil servant can only be removed from his/her services by the authority who appointed him/her or some other person who has the same authority or rank as the appointing authority.

·       Article 311 provides for the dismissal, removal, or reduction in rank of government employees on two grounds:

·       Efficiency of the employee: If the employee’s performance or conduct is found to be unsatisfactory or detrimental to the efficient functioning of the government.

·       Conduct involving moral turpitude: If the employee is involved in any act of corruption, bribery, fraud, or any other offense involving moral turpitude.

·       The employee must be given a fair chance to present their case and cross-examine any witnesses or evidence presented against them.

·       Consideration of inquiry report: After the inquiry, a report should be prepared, taking into account all the evidence and submissions made during the inquiry.

·       Decision-making: Based on the inquiry report, the competent authority should make a decision regarding the dismissal, removal, or reduction in rank of the employee.

·       The decision should be reasoned and communicated to the employee.

·       The decision must be reasonable, fair, and in accordance with the principles of natural justice.

·       Judicial Review: Article 311 also provides for judicial review of the decisions made under its provisions.

·       Remedies available to an aggrieved employee may include reinstatement, backwages, or any other relief deemed appropriate by the court.

·       It was conducted between Russia and India on the occasion of the 328th Russian Navy Day.

·       Participating Naval ships: It involved INS Tabar naval ship from India and Soobrazitelny from Russia.

·       It marks a significant milestone in the maritime cooperation between India and Russia, reinforcing the commitment of both nations to maintain peace, stability and security in the region.

·       The MPX involved a series of complex naval manoeuvers, including communication drills, Search & Rescue tactics and Replenishment at Sea serials. Ships from both navies demonstrated high levels of professionalism and interoperability.

·       The Indian Navy remains committed to fostering partnerships with navies across the world.

·       Significance: The MPX with the Russian Navy reinforces the strong bilateral naval ties, further strengthening our resolve and commitment towards ensuring enhanced cooperation in the maritime domain.