• 21 Nov 2023

Standard Operating Procedure (SOP) of Investment Promotion Policy released

Why In News?

On November 20, 2023, Infrastructure and Industrial Development Commissioner Manoj Kumar Singh released the Standard Operating Procedure (SOP) of the Investment Promotion Policy (FDI Policy) designed to attract Foreign Direct Investment (FDI) and Fortune 500 companies.

Key Points:

• According to the issued SOP, this FDI policy will be effective from November 1, 2023 to October 31, 2028.
• Fortune 500 includes Fortune Global 500 and Fortune India 500 companies.
• Investors will get 100% rebate in electricity bill for five years and 50 to 100% rebate in stamp duty and registration. Apart from this, provision of 75 to 80 percent subsidy has also been made on land.
• Rebate in stamp duty and registration for investors will be 50 percent in Gautam Buddha Nagar and Ghaziabad, 75 percent in Madhyanchal, Paschimanchal and 100 percent in Bundelkhand and Purvanchal. In lieu of subsidy, the investor will have to give a bank guarantee of the same amount.
• The government will give a letter to the investor for stamp exemption on purchasing land from development authorities. Upon purchasing land from a private developer, a certificate will be issued by Invest UP. Subsidy will be given on this basis. Stamp and registration fees will be reimbursed after industrial production begins.
• Under FDI, investors will get minimum 75 percent to 80 percent subsidy on land. In some cases it can be more than 80 percent. It will be reviewed within seven days by the evaluation committee constituted under the chairmanship of the CEO of Invest UP. This report will be presented before the authority committee constituted under the leadership of Infrastructure and Industrial Development Commissioner.
• The committee will accept or reject the proposal within 15 days. Once the proposal is accepted by the authorization committee, a letter will be issued to the concerned development authority. If the investor does not start production within the given investment period, the land will be taken back along with 12 percent interest.
• To get the subsidy, investors will have to compulsorily submit 11 documents related to the company like Letter of Comfort.
• Period for investment-
  • Production will have to be started in maximum 4 years with an investment of Rs 100 to 200 crore.
  • Production will have to be started in maximum 5 years with an investment of Rs 200 to 500 crore.
  • Production will have to be started in maximum 7 years with an investment of Rs 500 to 3000 crore.
  • With an investment of more than Rs 3000 crore, production will have to be started in a maximum of 9 years.

Construction of 1,600 MW Anpara-E will Start Soon in the State

Why In News?

In the meeting of Uttar Pradesh State Production Corporation Board on November 20, 2023, the proposal for construction of 1,600 MW new production unit Anpara E in the state has been approved. Now it will be sent to the government.

Key Points:

• The construction of Anpara- E unit is estimated to cost approximately Rs 18,624 crore. It will be set up under Meja Utpadan Nigam Limited, a joint venture between NTPC and Utpadan Nigam Limited.
• It may be noted that till now there are four units in Anpara. Of these, three units belong to the Production Corporation, whose capacity is 2630 MW. There is a 1200 MW unit of Lenco company.
• Power Corporation Chairman Dr. Ashish Kumar Goyal said that Overa C has 660-660 MW new units and Jawaharpur has 660-660 MW new units. Electricity production will start soon in one unit each at both these places. One unit each at both the places is under construction. Similarly, a 660 MW unit of Panki will also start producing electricity during summer.

First Clearance was Given to 46 Investment Proposals in the Meeting of Bihar Investment Promotion Council

Why In News?

Recently, in the 50^th meeting of Bihar Investment Promotion Council (SIPB), first clearance was given to a total of 46 investment proposals worth Rs 820.76 crore. All the proposals are worth more than Rs 2 crore.

Key Points:

• This meeting of Bihar Investment Promotion Council was held on 10 November, the proceedings of which were released on 17 November.
• Among the investment proposals which have been given first clearance by the Council, maximum 14 proposals (Rs 490 crore) are for food processing. Apart from this, 13 proposals (Rs 157.23 crore) for establishment of rice mills, 12 proposals (Rs 115 crore) for general manufacturing, 4 proposals (Rs 38 crore) for health and care sector, one proposal (Rs 102 crore) for textile and leather. Sector, one proposal (Rs 5.61 crore) is from IT sector and one proposal (Rs 3.91 crore) is from Small Scale Industries.
• A leather footwear manufacturing factory will be set up in Vaishali district of the state with an investment of more than Rs 102 crore. There is also a proposal to set up logistics and warehouse house with an investment of Rs 191 crore.
• There is a proposal to set up a biscuit and cake unit in Hajipur with an investment of Rs 61 crore. Establishment of Food Testing Laboratory in Patliputra Road area in Patna and Software Service Company is going to invest in Patliputra Industrial Area.
• Ethanol plants are going to be established in Bhagalpur and Purnia. Apart from this, there is a proposal to establish new rice mills in nine districts – Nalanda, Muzaffarpur, Munger, Gaya, West Champaran, Aurangabad, Patna, Buxar and Sheikhpura.
• Ethanol plant will be set up at Naugachia in Bhagalpur with an investment of Rs 58 crore and Paraura in Purnia with an investment of Rs 17.30 crore. About Rs 10 crore will be invested in setting up a water park/hotel/restaurant in Begusarai.
• About Rs 6 crore is being invested in setting up a food lab in Patna. A hotel will be set up in Narkatiaganj of West Champaran with an investment of more than Rs 4 crore. The remaining investments will be made in the field of food processing.
• Financial clearance was also given to 28 investment proposals worth Rs 216.85 crore in the SIPB meeting. These are those proposals in which banks and other financial agencies are ready to provide financial assistance for investment. This type of clearance is given to those units to which financial agencies are finally ready to provide loans and other facilities.

Additional Phase of Pulse Polio Campaign From 10 to 12 December

Why In News?

In the meeting of the State Task Force at NHM Headquarters on November 20, 2023, it was informed that in the additional phase of Pulse Polio Campaign from December 10 to 12, 2023 in 16 districts of the state, about 37 lakh 50 thousand children aged zero to 5 years will be given pulse polio vaccination. Polio vaccine dose will be given.

Key Points:

• In the meeting of the task force held in connection with the preparations for the campaign, officials of Women-Child Development, School Education, Urban Administration, Forest, Panchayat, Tribal Welfare, AYUSH, Sports and Youth Welfare Department and WHO, UNICEF, Representatives from UNDP and other organizations participated.
• It was informed in the meeting that due to the presence of polio cases in Pakistan and Afghanistan and also to maintain polio-free status, an additional phase of Pulse Polio campaign is being conducted.
• The campaign will be conducted in Bhind, Bhopal, Chhindwara, Datia, Gwalior, Indore, Katni, Khargone, Mandsaur, Narsinghpur, Neemuch, Niwari, Satna, Sheopur, Tikamgarh and Vidisha districts of the state.
• Along with local booths for administering polio medicines, mobile teams will also be formed in these districts to cover the migratory population.

Indian Technology will Improve Oil and Water Quality of 34 Countries

Why In News?

On November 20, 2023, Dr. RK Yadav, Director of Karnal-based Central Soil and Salinity Research Institute (CSSRI) said that 34 countries will improve the quality of their land and underground water with the techniques, technology and salt tolerant crop varieties developed by the institute.

Key Points:

• This Indian technology developed by CSSRI has so far reached 25 countries, and seven more countries are currently being trained in the technology.
• It should be noted that about 67.4 lakh hectares of land in India is affected by salinity and alkalinity, whereas in 34 African and Asian countries, salinity and alkalinity is increasing in lakhs of hectares of land and underground water, due to which the land here is also moving towards becoming barren.
• International organization African-Asian Rural Development Organization (AARDO) has provided training to all its 34 member countries on soil and water reclamation techniques developed by CSSRI, Karnal for the improvement of salt and alkalinity affected lands and underground low quality water. Have signed a contract.
• This training has been going on for the last 13 years. So far, 100 scientists and agricultural experts from 25 countries have been trained in this technique.
• Dr. RK Yadav, Director of CSSRI Karnal, said that recently nine foreign scientists and agriculture expert officers from seven countries (including Bangladesh, Sri Lanka, Mauritius, Kenya, Zambia, Jordan and Eswatini) have reached the institute to receive training. Who are being trained in techniques.
• Among the technologies developed by CSSRI Karnal are gypsum, sulphur, FGD gypsum technology for the improvement of alkaline land, sub surface drainage, drainage technology for the improvement of saline land and varieties of salt tolerant crops and their seeds and low quality water. Many techniques, technologies and methods are included for the improvement of gypsum bed, gypsum brackets and rapid acidulating material and culture etc.

Lithium Reserves Food in Koderma District of Jharkhand

Why In News?

On November 18, 2023, Director General of Geological Survey of India (GSI) Janardan Prasad told in a press conference that reserves of the mineral 'lithium', which is called the treasure of the future, have been found in Koderma district. This has been confirmed in the preliminary investigation by GSI.

Key Points:

• GSI Director General Janardan Prasad told in the press conference that Koderma has reserves of lithium along with mica. It will now be feasible to determine the precise amount of lithium present in this area by excavating the G-3 level.
• He said that dependence on batteries is going to increase in the country by 2050. Lithium is the most important element for this. Therefore, focus is being placed on the discovery of lithium. Lithium reserves have been discovered in Jammu. There is also a possibility of lithium reserves in Bhilwara in Rajasthan and Nellore in Andhra Pradesh.
• The Director General said that China has the technology for extraction of lithium. He has a monopoly on this. Therefore, MoU will be signed with many other institutes including GSI Dhanbad, Sifar, IIT ISM and other IITs, the Government of India will also fund the digging institutes.
• The Director General said that gold mines have been detected at two places in Tamar. In the past also, two gold mines have been discovered in Jharkhand. The state government will get the most benefit from getting minerals in the form of revenue. Employment will be created in the respective areas.

Diamonds will be discovered in the River Beds of Jharkhand

Why In News?

According to information received from the media on November 18, 2023, diamonds will be discovered in the sediments of many rivers in Ranchi and Palamu divisional districts of Jharkhand. The Ministry of Mines of the Central Government has approved this project.

Key Points:

• It may be noted that the Geological Survey of India has prepared this project in 2019. For this, the map of 'Diamond River' of Jharkhand and other information in the books of dozens of world famous authors, from 'Jahangirnama' of Mughal rule till 1917, has been made the basis.
• The map released in French traveler JB Trevernier's India travelogue book will also be explored near Diamond River in Chhotanagpur. For this, survey of rivers of many districts including Ranchi, Gumla, Simdega, Lohardaga, Latehar, especially Koel and Shankh rivers will be conducted.
• Those places along the banks of the river where insects, wasps and termites are found from the ground have been included in it. Besides, wherever other minerals are being extracted on a large scale in the state, a survey will also be conducted.
• Jahangirnama's translator Munshi Devi Prasad and other translator Brajaratnadas told that both small and big diamonds are found on the banks of Shankh river in Ranchi. Dr. Mathuralal Sharma, translator of 'Tuzuk-e-Jahangiri' has also confirmed this.
• H Kupalen has written in Bengal District Gazetteer Manbhum that there was diamond in the jurisdiction of Nagvanshis. Whereas, MG Halit in Bihar District Gazetteer Ranchi has mentioned the presence of diamonds in the alluvium of Shankh river of Ranchi.
• Similarly, Prof. John Dowson, in his book 'The History of India as told by its own historian', has mentioned that both small and big diamonds were found on the banks of Shankh River in Jharkhand.
• Apart from this, Colonel Dalton's book 'Ethnology of Bengal', JB Trevinier's book 'Tribals in India', CF George's book 'What a Dictionary of the Economic Product of India', V Bal's book 'The Diamonds, Coal and Gold of India'. There are such mentions in 'India' etc also.