1. Social Sector ...................................................................................................................... 1

1.1. North East Rural Livelihood Project ........................................................................... 1

1.2. Promulgation of Indian Forest (Amendment) Ordinance, 2017 ............................... 1

1.3. Forest Rights Act, 2006 ............................................................................................... 2

2. Governance ........................................................................................................................ 2

2.1. UMANG App ................................................................................................................. 2

2.2. Global Conference on Cyber Space ............................................................................. 3

3. Economy............................................................................................................................. 3

3.1. Open Access and Mission 41K in Indian Railway ........................................................ 3

3.2. Asset Reconstruction Company .................................................................................. 3

1. SOCIAL SECTOR

1.1. NORTH EAST RURAL LIVELIHOOD PROJECT

Why in news?

The Union Minister of State for Development of North-Eastern Region (DoNER) launches

an exclusive "Rural Livelihood" scheme for the Northeast- North East Rural Livelihood

Project”

More about the project

• It is being supported by the World Bank and will primarily benefit the tribals and the

lower socioeconomic groups, including women, in the North-Eastern Region (NER).

• The project is aimed at assisting over 10,000 Self Help Groups (SHGs) and benefit

about three lakh poor households.

• As the first step, four states, - Mizoram, Nagaland, Sikkim and Tripura, will be taken up

for helping the tribal and even the non-tribal lower groups living in remote areas.

1.2. PROMULGATION OF INDIAN FOREST (AMENDMENT) ORDINANCE, 2017

What is in news?

Ordinance amends Indian Forest Act, 1927 to promote cultivation of bamboo in non-forest

areas.

Rationale behind the Amendment

• Bamboo, though, taxonomically a grass, was legally defined as a tree under the Indian

Forest Act, 1927

• Before this amendment, the felling and transit of bamboo grown on forest as well non-

forest land attracted the provisions of the Indian Forest Act, 1927

• This was a major impediment for bamboo cultivation by farmers on non-forest land.

0484-3190310

9446331522

9446331522

TPS 18 DAILY CURRENT AFFAIRS Date: 24-11-2017

• Therefore, the amendment is brought to exempt bamboo grown in non-forest areas

from definition of tree, thereby dispensing with the requirement of felling/transit permit

for its economic use. It will facilitate the growth of bamboo sector in the north eastern

region.

• bamboo grown in the forest areas shall continue to be governed by the provisions of

Indian Forest Act, 1927

1.3. FOREST RIGHTS ACT, 2006

Why in news?

The Odisha government has handed over trade rights of kendu (tendu) leaf, an important

minor forest produce, to residents of six villages in Kalahandi district, Odisha. Now,

Residents of six villages in the Kegaon range of the Bhawanipatna kendu leaf division are

free to sell kendu leaf to anybody of their choice as per rights conferred under Forest

Rights Act 2006.

More about the Act

• The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest

Rights) Act, 2006 is called as Forest Right Act.

• Forest Rights granted under the Act are

o Title rights - i.e. ownership - to land that is being farmed by tribals or forest

dwellers as on 2005, subject to a maximum of 4 hectares; ownership is only for

land that is actually being cultivated by the concerned family. No new lands are

granted after this.

o Use rights - to minor forest produce (also including ownership), to grazing areas,

to pastoralist routes, etc

o Relief and development rights - to rehabilitation in case of illegal eviction or

forced displacement; and to basic amenities, subject to restrictions for forest

protection

o Forest management rights - to protect forests and wildlife

• Ministry of Tribal Affairs is the nodal ministry in implementing the act.

• Gram Sabha is the authority in deciding the forest rights.

2. GOVERNANCE

2.1. UMANG APP

What is in news?

The Prime Minister launched the UMANG App in the 5th Global Conference On Cyberspace.

More about UMANG

• UMANG App aims to bring 162 government services on a single mobile app, with a

larger goal to make the government accessible on the mobile phone of our citizens.

• It helps in accessing 1200+ services of various government services from Centre, State

and utility services

• It supports 13 Indian languages and caters to on-demand scalability

• It will soon support feature phones without internet connectivity through USSD

2.2. GLOBAL CONFERENCE ON CYBER SPACE

• Global Conference on Cyber Space (GCCS) is a prestigious global event where

international leaders, policymakers, industry experts, think tanks, cyber wizards etc

gather to deliberate on issues and challenges for optimally using cyber space.

• The first edition of GCCS was held in London in 2011.

• An institutional mechanism GFCE (Global Forum on Cyber Expertise) was set up to

enhance Capacity Building.

• Main Theme of GCCS 2017 is “Cyber4All: A Secure and Inclusive Cyberspace for

Sustainable Development”.

3. ECONOMY

3.1. OPEN ACCESS AND MISSION 41K IN INDIAN RAILWAY

What is in news?

Indian Railways accomplishes major savings in its ‘ElectricTraction Energy Bill’. The feat

was achieved by adopting innovative strategy of procuring power under open access

arrangements. It will also contribute to IR’s Mission 41K.

Open Access

• Open access allows large users of power — typically having connected load of 1

megawatt (Mw) and above — to buy cheaper power from the open market.

• The idea is that the customers should be able to choose among a large number of

competing power companies–instead of being forced to buy electricity from their

existing electric utility monopoly.

• Power is presently being sourced by Indian Railway through Open Access route in 7

states namely Maharashtra, Gujarat, M.P, Jharkhand, Rajasthan, Haryana and

Karnataka and DVC area.

Mission 41k

• In January 2017, Railways introduced Mission 41k to save Rs. 41000 crore in the next

decade in Railways’ energy costs.

3.2. ASSET RECONSTRUCTION COMPANY

Why in news?

In a major boost to asset reconstruction companies(ARCs), the Reserve Bank of

India(RBI) has relaxed norms capping their share­holdings at 26% in the borrower firm

under reconstruction.

More about ARC

• ARCs are centralised agencies for resolving bad loans created out of a systematic

crisis.

• ARCs buy up distressed assets from banks/card companies and other financial

institutions, re-package them and then sell them in the market.

• Because ARCs deal with a larger portfolio, they can mix up good assets with bad ones

and make a sale which is palatable to buyers.

• At the same time, the ARC can float bonds and recover dues from the borrowers

directly.

• Nonperforming assets (NPAs) can be assigned to ARCs by banks at a discounted price,

enabling a one-time clearing of the balance sheet of banks of sticky loans. And it is

easier to do a capital-market based funding for an ARC than for the banks themselves.

• ARCs can have several alternate structures. They can either be publicly or privately

owned or a combination of both, and can be either separately capitalised units or

wholly-owned subsidiaries.