GUJARAT
25% reduction in school fees notified by Gujarat govt
The state education department finally issued the notification for the 25% reduction in
school tuition fees for the academic year 2020-21. The government has in the notification
made it clear that the 25% fee reduction will be applicable for all self-financed schools
under the Gujarat Secondary and Higher Secondary Education Board, CBSE and other boards
in the state.
The notification also states that schools will not be permitted to collect any other fees such
as activity fees and transport fees for the current academic year. The notification advises
parents to pay their fees for the last academic year and 50% of the fees for the first two
quarters by the end of October.
If the parent has paid the fees for the entire year, the 25% rebate will have to be adjusted in
the next academic session. Moreover, the government also made it clear that school
managements will not be allowed to increase the fees for the current academic session and
will have to follow the fee structure of 2019-20.
INTERNATIONAL
China launches ‘world’s first 6G experiment satellite’
China has sent into space the world’s first 6G experiment satellite.
The 6G satellite was among three Chinese satellites successfully launched into orbit, along
with 10 commercial remote sensing satellites developed by Argentinian company Satellogic.
As per the reports, the technology is expected to be over 100 times faster than 5G.
The 6G communications test satellite was launched into orbit along with 12 other satellites.
Armenia, Azerbaijan signs Peace Deal Brokered by Russia
Armenia and Azerbaijan have signed the Russia-Brokered Peace Deal, an agreement that
aims to end the military conflict over the disputed enclave of Nagorno-Karabakh. The
signing event follows six weeks of fighting between Azerbaijan and ethnic Armenians.
Under the deal, Azerbaijan will keep areas of Nagorno-Karabakh that it has taken during the
conflict.
Armenia has agreed to withdraw from several other adjacent areas over the next few
weeks.
Russian peacekeepers will be deployed to patrol the front line at Karabakh. They will guard
the Lachin corridor which links the Karabakh capital, Stepanakert, to Armenia.
NATIONAL
Finance Commission Submitted the Report to the President
The 15th Finance Commission submits the report for 2021-22 to 2025-26 to the President.
The Finance Commission was supposed to provide its recommendations on many particular,
unique and wide-ranging issues in its terms of reference.
Except for the vertical and horizontal tax devolution, disaster management grant, local
government grants, the Commission was also supposed to evaluate, examine and
recommend performance incentives for States in many areas like the power sector,
adoption of DBT, solid waste management, etc.
The Finance Commission also needed to examine whether a separate mechanism for
funding of defence and internal security ought to be set up and if so how such a mechanism
could be operationalised.
The submitted report has been categorised in 4 volumes.
Volume 1 and 2, as in the past, contain the main report and the accompanying annexes.
Volume 3 is devoted to the Union Government and examines key departments in greater
depth, with the medium-term challenges and the roadmap ahead.
Volume 4 is entirely about the States. The Commission has observed the finances of each
and every State in great depth and has come up with State-specific considerations to check
the key challenges that individual States face.
Centre announced Rs 65,000 crore fertilizer subsidy for farmers
Government of India (GoI) announced a Rs.65,000 crore fertilizer subsidy for farmers. The
announcement was made by Finance Minister Nirmala Sitharaman on 12 November 2020.
This funding will enable the timely accessibility of fertilizers in the upcoming crop season.
The sum amount is provided with an aim to ensure adequate availability of fertilizers to
farmers.
Also, an additional amount of Rs.10,000 crore will be provided for PM Garib Kalyan Rozgar
Yojana in the current financial year. This will accelerate the growth of the rural economy.
Centre will release Rs 3,000 crore to EXIM Bank for the promotion of 'Project Exports'
through lines of credits (LOC).
EXIM Bank extends LOC on behalf of GoI as assistance to developing countries under the
Indian Development and Economic Assistance Scheme (IDEAS) Scheme.
Cabinet approved PLI Scheme to 10 key Sectors for Enhancing Manufacturing Capabilities
in India
The Union Cabinet headed by PM Narendra Modi approved the introduction of
the Production-Linked Incentive (PLI) Scheme in 10 key sectors. The approval comes with
an aim to enhance India’s Manufacturing Capabilities and enhance Exports under
Atmanirbhar Bharat.
The PLI scheme will be implemented by the concerned Union Ministries/Departments.
The scheme will be within the overall financial limits prescribed.
The PLI scheme across the 10, newly added, key specific sectors will make Indian
manufacturers globally competitive.
The move also aims to attract investment in the areas of core competency and cutting-edge
technology. It will also ensure efficiencies, create economies of scale, and enhance exports
and make India an integral part of the global supply chain.
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