UPSC Daily Current Affairs | Prelim Bits 05-08-2020

Draft Defence Production and Export Promotion Policy 2020

• Recently, the Ministry of Defence (MoD) has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020).
• It aims to provide impetus to self-reliance in defence manufacturing under Atmanirbhar Bharat Package.
• The policy aims to achieve a turnover of Rs 1,75,000 Cr (US$ 25Bn) including export of Rs 35,000 Cr (US$ 5 Billion) in Aerospace and Defence goods and services by 2025.
• The Policy brings out multiple strategies under the following focus areas:

1. Procurement Reforms
2. Indigenization & Support to MSMEs/Startups
3. Optimize Resource Allocation
4. Investment Promotion, FDI & Ease of Doing Business
5. Innovation and R&D
6. DPSUs and OFB
7. Quality Assurance & Testing Infrastructure
8. Export Promotion

Meghnaghat Combined-Cycle Power plant

• A combined-cycle power plant is a relatively more efficient way of producing electricity.
• It uses both a gas and a steam turbine together to produce up to 50 % more electricity from the same fuel than a traditional simple-cycle plant.
• It will reduce the share of environmentally harmful and expensive fuels like coal and oil.
• Recently, Asian Development Bank (ADB) has signed a $ 200 million financing deal with the Reliance Bangladesh LNG and Power Limited (RBLPL).
• The deal aims to build and operate a 718-megawatt combined-cycle gas-fired power plant in Bangladesh.
• The plant is proposed to be located on land allotted by Bangladesh Power Development Board (BPDB), in Meghnaghat, Narayanganj District near Dhaka.

Integrated Market Surveillance System 

• Market surveillance is the prevention and investigation of abusive, manipulative or illegal trading practices in the securities markets.
• It helps to ensure orderly markets, where buyers and sellers are willing to participate because they feel confident in the fairness and accuracy of transactions.
• Without market surveillance, a market could become disorderly, which would discourage investment and inhibit economic growth.
• Market surveillance can be provided by the private sector and the public sector.
• In India Financial Markets Regulation Department (FMRD) undertakes surveillance of financial markets regulated by the RBI.
• RBI has shortlisted few private vendors for implementation of Integrated Market Surveillance System.

FDI in Commercial Coal Mining

• Union government clarified process on FDI in commercial coal mining.
• Any country that shares land borders with India, which wishes to invest in commercial coal mining will be allowed only after government approval.
• A citizen of Pakistan or an entity incorporated in Pakistan can invest only under the government route in sectors/activities other than defence, space, atomic energy, and sectors/activities prohibited for foreign investment.
• While the central government auctions coal blocks, state governments need to handle local issues efficiently and with sensitivity.

Ebrahim Alkazi

• Recently Ebrahim Alkazi, the longest-serving director of the National School of Drama passed away.
• Ebrahim Alkazi is remembered as the father of Indian theatre.
• He revolutionized Indian theatre.
• He was the first person to bring regional language plays to NSD.
• He was the first recipient of Roopwedh Pratishtan's the Tanvir Award (2004) for lifetime contribution to the theatre.
• He received the Padma Shri, Padma Bhushan and Padma Vibhushan.
• He received Sangeet Natak Akademi Fellowship for lifetime contribution to theatre.

Source: PIB, Economic Times, News on Air, the Hindu