• 24 Feb 2024

Chhattisgarh to Revive Aluminium Park Project in Korba

Why in News?

The Chhattisgarh government has decided to revive an aluminum park proposal originally mooted in 2021 to promote small-scale industries in Korba.

Key Points

• The State government had entered an agreement with Bharat Aluminium Company Ltd (BALCO), a subsidiary of Vedanta Limited to supply raw aluminum to small-scale industries at a subsidised rate.
• The district administration identifies Rukhbahari village land for the project near BALCO township and even held a gram sabha to take the consent of villagers for the project.
• An initial provision of Rs 5 crore has been made in the budget proposal of the industry department for the financial year 2024-25 to meet the demand of Aluminum Park in Korba district.

Bharat Aluminium Company Ltd (BALCO)

• BALCO was incorporated in 1965 as the first Public Sector Undertaking (PSU) in India and since then it has been closely associated with the Indian Industrial Growth, in a pivotal role.
• In 2001, Government of India disinvested 51% shares of Bharat Aluminium Company Limited (BALCO) to Sterlite Industries Limited a subsidiary of Vedanta Limited.
• BALCO is playing a crucial role in introducing Aluminium as a potential alternative to other metals like Steel in construction, and Copper in the power transmission industry.
• Major operations of BALCO are in the town of Korba (Chhattisgarh), whereas its mines supplying high grade Bauxite are situated at Kawardha and Mainpat.

Uttar Pradesh Forms Committee to Look into Farmer Demands

Why in News?

Recently, Uttar Pradesh Chief Minister formed a three-member committee to look into the grievances of the state’s farmers whose land was acquired in the Noida, Greater Noida and the Yamuna Expressway areas for development purposes.

Key Points

• The farmers from Noida and the Greater Noida villages have been protesting for the past two months demanding a 64.7% hiked land compensation, better rehabilitation facilities for their families, permission to use residential plots for commercial purposes, jobs for their children and better healthcare facilities, among other benefits.
• The committee will hold discussions with farmers and also with other stakeholders to take the necessary steps.
  • The Noida and the Greater Noida CEOs will support this committee in addressing farmer issues and the committee will submit its report in three months before the state government.

Uttar Pradesh to Tap into CSR Funds for Development Projects

Why in News?

The Uttar Pradesh government will turn towards corporates to enlarge the state’s Corporate Social Responsibility (CSR) reserves for socioeconomic development.

Key Points

• Uttar Pradesh is among the top five states who corner most of the CSR funds from companies. Others include Maharashtra, Karnataka, Gujarat and Tamil Nadu.
• Section 135 of the Companies Act, 2013 mandates certain companies to allocate 2% of their average profits from the preceding three financial years towards CSR activities.
• The state has also acknowledged the contribution of leading private sector companies on a large scale through CSR funds.
  • In 2014-15, UP garnered only about Rs 148 crore that grew to Rs 435 crore in 2017-18. In 2021-22, UP saw a CSR spending of Rs 1,321 crore that surged to around Rs 1,500 crore in 2022-23.

Corporate Social Responsibility (CSR)

• The concept of CSR is the idea that companies should assess and take responsibility for their effects on the environment and on social welfare, and to promote positive social and environmental change.
• The four main types of corporate social responsibility are:
  • Environmental Responsibility
  • Ethical Responsibility
  • Philanthropic Responsibility
  • Economic Responsibility
• The CSR provisions within Companies Act, 2013 is applicable to companies with an annual turnover of 1,000 crore and more, or a net worth of Rs. 500 crore and more, or a net profit of Rs. 5 crore and more.
  • The Act requires companies to set up a CSR committee which shall recommend a Corporate Social Responsibility Policy to the Board of Directors and also monitor the same from time to time.

Companies Act, 2013

• It is an Act of the Parliament which was enacted in 1956. It enables the companies to be formed by registration, sets out the responsibilities of companies, their executive director and secretaries.
• In 2013, the Government amended the Indian Companies Act, 1956 and added a new Act called as Indian Companies Act, 2013.
  • The Companies Act, 1956 was replaced partially by the Indian Companies Act 2013.
  • It became an act and finally it came into force in September 2013.
• In 2020, the Parliament of India passed the Companies (Amendment) Bill, 2020 to further amend the Companies Act and decriminalise various compoundable offences as well as promote ease of doing business in the country.
• Reduction in penalties for certain offences as well as in timeline for rights issues, relaxation in CSR compliance requirements and creation of separate benches at the National Company Law Appellate Tribunal (NCLAT) are among the proposed changes too.

First Edition of Gurugram Marathon

Why in News?

More than 27,000 people have registered so far for the first edition of the Gurugram Marathon.

Key Points

• A marathon expo will be organized at Leisure Valley Park in which participants will be given marathon kits.
• The administration held a series of meetings with several runners’ groups, universities, colleges, school associations, all corporates in the city, and citizen groups to ensure maximum participation.
• Cricketer Shikhar Dhawan is the event’s brand ambassador. The marathon has been divided into four categories. Three of them are competitive, in which winners will get cash rewards.

National Workshop on Urban Livelihoods

Why in News?

Recently, a two-day national workshop convened in Ranchi, under the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM), the Ministry of Housing and Urban Affairs (MoHUA), in collaboration with the United Nations Development Programme (UNDP).

Key Points

• The workshop served as a platform for high-level deliberations on emerging trends and opportunities in urban livelihoods, with a primary focus on bolstering resilience and empowerment for women across urban India.
  • Participants included State Mission Directors of the State Urban Livelihoods Mission, senior officials from MoHUA and Jharkhand state government, senior officials from UNDP India, leading sector experts, and representatives from research institutions, start-ups, philanthropies, and donor organizations.
• The event featured discussions focusing on enabling strategies to foster women-led urban livelihoods and emerging sectors and types of enterprises in climate, services, retail, and manufacturing.
• It also explored other themes like the Multidimensional Poverty Index (MPI) and the role of philanthropies in addressing issues of urban poverty through identifying priority areas and innovative financial investments.

National Multidimensional Poverty Index

• The National Multidimensional Poverty measures simultaneous deprivations across three equally weighted dimensions of Health, Education, and Standard of Living that are represented by 12 Sustainable Development Goals-aligned indicators.
  • These include Nutrition, Child and Adolescent mortality, Maternal Health, Years of schooling, School Attendance, Cooking fuel, Sanitation, Drinking water, Electricity, Housing, Assets, and Bank Accounts.
• MPI’s global methodology is based on the robust Alkire and Foster (AF) method that identifies people as poor based on universally acknowledged metrics designed to assess acute poverty, providing a complementary perspective to conventional monetary poverty measures.

Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM)

• The mission was launched in 2014 and is being implemented by the Urban Ministry of Housing & Poverty Alleviation.
• It aims to uplift urban poor by enhancing sustainable livelihood opportunities through skill development.
• It is a Centrally Sponsored Scheme.
• Funding will be shared between the Centre and the States in the ratio of 75:25. For North Eastern and Special Category – the ratio will be 90:10.
• Its intended beneficiaries are urban poor (street vendors, slum dwellers, homeless, rag pickers), unemployed and differently-abled.

United Nations Development Programme (UNDP)

• UNDP has been working in India since 1951 in almost all areas of human development.
• Together with the Government of India and development partners, it works towards eradicating poverty, reducing inequalities, strengthening local governance, enhancing community resilience, protecting the environment, supporting policy initiatives and institutional reforms, and accelerating sustainable development for all.