Current Affairs March 2015

Indian Railways inks MoU with LIC for Rs 1.5 lakh crore investments in rail infrastructure

Indian Railways on 11 March 2015 inked an MoU with Life Insurance Corporation (LIC) to raise Rs 1.5 lakh crore for financing the development of its various commercially viable infrastructure projects. 
The MoU was signed by Financial Commissioner (Railways) Rajalakshmi Ravikumar and LIC Chairman SK Roy in presence of Union Finance Minister Arun Jaitley and the Minister of Railways Suresh Prabhu.

Under the MoU 

• State-run insurance giant LIC will provide a Financial Assistance of Rs 1.5 lakh crore to Indian Railways for developing infrastructure. 
• From the Financial Year 2015-16 the financial assistance will be made available by LIC for over a period of 5 years as part of its commercial decision. 
• The investment will be done in the form of bonds issued by various railway entities such as Indian Railways Finance Corporation (IRFC). 
• There will be a 5 year moratorium in interest and loan repayment. The rate will be linked to 10-year benchmark plus 10 basis points.

Parliament passes Motor Vehicles (Amendment) Bill, 2015

Parliament has passed the Motor Vehicles (Amendment) Bill, 2015. It was first passed in Lok Sabha on 3 March 2015 and later in the Rajya Sabha on 11 March 2015. 

The Bill seeks to amend the Motor Vehicles Act, 1988 and replace the ordinance promulgated in this regard. The ordinance was promulgated in January 2015 after the bill was not able to pass in the winter session of Parliament.

Key provisions of Amendment Bill 

• It brings e-carts and e-rickshaws under ambit of the parent Act, so they can ply on roads across the country. 
• The Bill defines E-carts and e-rickshaws as special purpose battery powered vehicles with power up to 4000 watts and having 3 wheels. 
• Bill mentions that these vehicles can be used for carrying goods or passengers. 
• It also mentions that these vehicles should be manufactured, equipped and maintained in accordance with specifications as prescribed by Union government. 
• The Bill exempts drivers of e-rickshaw and e-cart from the requirement of learner’s licence to drive. 
• The Bill gives powers to Union government to make Rules on the specifications for e-carts and e-rickshaws, and the conditions and manner for issuing driving licenses.

India’s literacy rate rose to 72.98 % in 2011: Union Government

Union government has announced that India’s literacy rate has risen to 72.98%. It was informed by Union Minister Human Resource Development (HRD) Smriti Irani while replying to the supplementaries in the Lok Sabha.
Union governments reply informed that

• As per population census 2011, the number of illiterates have declined to 28.27 crore from 30.41 crore in 2011 in the country.
• Country’s literacy rate has risen to 72.98 per cent in 2011 compared to 64.84 per cent in 2001. 
• The literacy rate in the country has risen after launching of flagship schemes like Sarva Shiksha Abhiyan in 2001-02, enforcement of the Right of children to Free and Compulsory Education (RTE) Act 2009 and Saakshar Bharat programme.

Government also informed that under the centrally sponsored scheme- Saakshar Bharat for Adult Education and Skill Development, the promotion of adult literacy with special focus on women, SCs, STs, minorities and other disadvantaged groups was undertaken in rural areas of 410 districts. The Saakshar Bharat Scheme’s objective is to raise the literacy level to 80 per cent and reduce the gender gap by the end of XII Five Year plan i.e. by the end of 2017.

Maharashtra Government launches Bhagyashree scheme for girlsMaharashtra government has launched Bhagyashree scheme for girls. The scheme replaces state government’s previous Sukanya scheme

Bhagyashree  scheme was launched by was launched by Chief Minister Devendra Fadnavis along with the actress Bhagyashree who is brand ambassador of the scheme.
Under the Sukanya scheme, the state government was to earmark an amount of Rs. 21,200 for each girl child born in a Below the Poverty Line (BPL) family. While the Bhagyashree scheme aims at providing one lakh rupee on maturity after the girl completes 18 years of age. State government is seeking to link the Bhagyashree scheme with the Union Government’s Beti Bachao Beti Padhao scheme.

North-East India’s first Kisan Call Centre opens in Agartala, Tripura
North East India’s first Kisan Call Centre (KCC) was opened in Agartala, Tripura. It was launched by Tripura Chief Minister  Manik Sarkar. The call centre is financed by Tripura government and will be run by experts of agriculture, fisheries, horticulture and animal husbandry from a private enterprise.

Key facts 

• KCC Agartala will work daily from 6 am to 10 pm and provide a real time advisory and immediate solution with expert consultation to farmers from Tripura on various agriculture related issues.
• It includes expert consultation seed procurement, agro-metric, fertilisers, soil health, pesticides usage and marketing of the produces. 
• Farmers from neighbouring states of Tripura also will be provided by similar services by Kisan Call Centre. 

Tripura also launched farmer’s portal to issue advisory to farmers for farm production under direct supervision of the experts.
Background 
Previously, Union Government had started the KCC service in all states through Indian Farmers Fertiliser Cooperative (IFFCO). However due to the language deficiency, it failed to cater to the farmers.