Rapid Fire
Rapid Fire Current Affairs
- 13 Jul 2023
- 4 min read
BHARAT Campaign Launched to Boost Agri Infra Funding
Recently, the Ministry of Agriculture has called upon banks to actively promote the Agriculture Infrastructure Fund (AIF), a financing facility aimed at developing post-harvest infrastructure and community farm assets in the agricultural sector. With a target disbursement of Rs 1 lakh crore by 2025-26, the AIF will provide interest reduction and credit guarantee assistance until 2032-33. To accelerate the flow of funds, the ministry has launched the BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation) campaign, urging banks to participate actively in the promotion of the Agri Infra Fund. During the one-month campaign, banks are encouraged to achieve a target of Rs 7,200 crore. The involvement and support of over 100 banking executives from commercial banks, regional rural banks, small finance banks, NBFCs, and select cooperative banks have been sought.
Read more: Agriculture Infrastructure Fund (AIF)
India and EFTA Accelerate TEPA Negotiations
Recently, the Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, concluded a successful meeting with the European Free Trade Association (EFTA) delegation in London. The discussions centered around advancing the Trade and Economic Partnership Agreement (TEPA) negotiations between India and EFTA. The primary objective of these negotiations is to establish a fair, mutually beneficial, and comprehensive trade deal between India and EFTA.
EFTA is an intergovernmental organization that was established in 1960 as an alternative trade bloc for those European states that were unable or unwilling to join the European Union (EU). EFTA is India's 9th largest trading partner, accounting for about 2.5% of India's total merchandise trade in 2020-21.
The TEPA aims to create opportunities for trade and investment between India and EFTA by eliminating/reducing tariffs and non-tariff barriers on a wide range of products.
Read more: India and EFTA, India and EFTA states
GACL Initiates Domestic Production of Hydrazine Hydrate and Purified Phosphoric Acid
In a significant stride towards achieving self-reliance under the Atmanirbhar Bharat mission, Gujarat Alkalies and Chemicals Ltd (GACL), a leading chlor-alkali producer, has commenced the shipment of Hydrazine Hydrate. Furthermore, GACL has also addressed the scarcity of Purified Phosphoric Acid manufacturers in India by setting up a plant with a capacity of 33,870 MTA.
Hydrazine hydrate is a chemical compound with the formula N2H4·H2O. It is primarily used as a reducing agent in various chemical reactions, such as the synthesis of pharmaceuticals and agricultural chemicals.
Read more: Atmanirbhar Bharat Mission
Punjab Agricultural University Develops Nutrient-Rich Wheat Variety with Health Benefits
In a groundbreaking development, the Punjab Agricultural University (PAU) has successfully bred a new variety of wheat called PBW RS1, which contains high levels of amylose starch known to reduce the risks of type-2 diabetes and cardiovascular diseases.
PBW RS1 has a total starch content similar to other wheat varieties (66-70%), but it boasts a remarkable 30.3% resistant starch content compared to the 7.5-10% found in other varieties. The variety not only offers nutritional benefits but also exhibits complete resistance to yellow rust and moderate resistance to brown rust fungal diseases.
Despite its nutritional advantages, PBW RS1 poses a challenge in terms of cultivation due to its lower average grain yield compared to other wheat varieties in Punjab.
Read more: Food security, Nutritional security, Diabetes, Cardiovascular diseases
