08-01-22 Daily-Punjab-PPSC Current Affairs

Continuous non-payment of dues in lieu of subsidies clubbed with the recent pre-poll freebies have added to the financial burden of the already cash-strapped Punjab State Power Corporation Limited (Pspcl).

As a result, the next government will have to face total dues of Rs 12,600 crore, including around Rs 9,000 crore pending power subsidy.

According to data collected by The Tribune, at present the owes more than Rs 8,900 crore of pending subsidy to PSPCL in next quarter as it has paid only Rs 9,600 crore in the first three quarters of the financial year, including Rs 900 crore this week.

In the Annual Revenue Requirement (ARR) for next financial year, now PSPCL has submitted a revised subsidy payment estimate for the year 2021-22 amounting to Rs 12,245 crore.

Under the PMFME Scheme, the Ministry of Food Processing Industries has introduced six one-district product (ODOP) brands.

Highlights:PMFME is the acronym for Pradhan Mantri Formalisation of Micro Food Processing Enterprises.

Amrit Phal: It’s amla juice for Haryana’s Gurugram. It’s natural with lemon juice added. Amrit Phal is priced at Rs 120 for 500 ml.

Cori Gold: Coriander powder was created for the Rajasthani city of Kota. Because of its flavor, the product is one-of-a-kind. Cori gold prices 34 rupees per gram.

Kashmiri Mantra: Kashmiri red chiles are used to make this product. It was created for the Jammu and Kashmir district of Kulgam. Seventy-five rupees buy 100 grams of the Kashmiri mantra.

Madhu Mantra: It’s a honey-like substance created for the Uttar Pradesh district of Saharanpur. It’s a honey with a variety of . Madhu mantra honey is gathered from bees that are allowed to fly freely. Five hundred grams of Madhu mantra will set you back 185 rupees.

The Government of India approved Green Energy Corridor Phase II. The estimated outlay of the phase is Rs 12,031 crores. Under this phase, 10,750 kilometres of transmission lines are to be constructed and 27,500 MVA sub stations are to be added. MVA is Mega Volt Ampere. These additions are of the generated in different parts of the country. The project is to be implemented in seven states. They are Uttar Pradesh, Tamil Nadu, Rajasthan, Kerala, Karnataka, Himachal Pradesh and Gujarat.

The Green Energy Corridor Phase II will be implemented between 2021-22 and 2025-26.

33% of the project cost is to be provided by the central government. That is, Rs 3,970 crores. The Central Governments assistance will reduce the intra state transmission costs. And will ultimately reduce the cost of the power supplied.

It will help India achieve its target of 450 GW of renewable energy by 2030.

It will generate direct and indirect EMPLOYMENT opportunities.

The project will boost Energy Security of the country.

It is being implemented in Tamil Nadu, Andhra Pradesh, Himachal Pradesh, Gujarat, Maharashtra and Rajasthan. It aims to generate 24 GW of renewable power. It is to be completed by 2022. It will add 22,600 MVA of substations and 9,700 km of transmission lines. This is being implemented at a cost of Rs 10,141 crores. Here the central government has contributed Rs 4.056 crores, that is, 33% of the cost.

The Sri Lankan Government signed an agreement with the Lanka Indian Oil Corporation (LIOC). According to the agreement, Sri Lanka will lease oil tanks to IOC.

Sri Lanka has leased 14 tanks to LIOC for fifty years. Another 24 tanks have been leased to CPC. CPC is joint venture of LIOC and Trinco Petroleum Private Limited. CPC is Ceylon Petroleum Corporation. The CPC is to develop 61 oil farms in the country.

Under the agreement signed in 2003, Sri Lanka agreed to lease all of its 99 tank oil farms to India. This has now been nullified by the new agreement. The new agreement brings in new Governance structure.

Sri Lanka is under huge financial pressure. The country has to repay 4.5 billion USD in 2022 alone. Its Foreign Exchange reserves are decreasing largely.

To strengthen the effectiveness of PM POSHAN, the United Nations World Food Program, UN WFP, has struck a deal with a Bengaluru-based NGO (Non-Governmental Organization).

Highlights:

Pradhan Mantri POshan SHakti Nirman is the acronym for Pradhan Mantri POshan SHakti Nirman. Previously, the program was known as the Mid-Day Meal Program.

The Akshara Patra Foundation and the Akshara Patra Foundation inked the agreement.

PM POSHAN Shakti Nirman has received financial help from the World Food Programme. It will help schools improve their mid-day feeding programs.

The NGO will form a steering group. The committee will include officials from the World Food Programme, government agencies, and non-governmental organizations.