NATIONAL

Cabinet approves PMKSY

• The Cabinet committee of Economic Affairs has approved implementation of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) for 2021-26.
• The centre has approved Rs 93,068 crore as the outlay , The Cabinet Committee has also approved Rs.37,454 crore to States and Rs 20,434.56 crore of debt servicing for loan provided by Government for irrigation development during the previous term(2016-21).
• Three other scheme’s were also approved for continuation during the term(2021-26), Namely Accelerated Irrigation Benefit Programme (AIBP), Har Khet ko Paani (HKKP) and Watershed Development components.
• Accelerated Irrigation Benefit Programme- Under this scheme 13.88 lakh hectare of total additional irrigation potential has been targeted for 2021-26, Apart from this 30.23lakh hectare command area development additional projects can also be taken up and the inclusion criteria have been relaxed for projects under tribal and drought prone area.
• Har Khet ko Paani- Under this scheme surface minor irrigation and repair-renovation-restoration of water bodies component of PMKSY is targeted to provide additional 4.5 lakh hectare irrigation, and  ground water component of the scheme has set target for creation of irrigation potential at 1.52 lakh hectare.
• Watershed Development component- Under the scheme, Approved Watershed Development component of Department of Land Resources envisages completion of sanctioned projects covering 49.5 lakh hectare rainfed/ degraded lands to bring additional 2.5 lakh hectare under protective irrigation.

Additional Fact-

The PMKSY scheme is a centrally sponsored scheme and it is an amalgamation of Accelerated Irrigation Benefit, Integrated Watershed Management Programme and On farm Water management,

The scheme was launched on 2015 and the allocation of funds for Centre-state is in the ratio 75:25 respectively, in case of northeastern states it will be 90:10.

UNESCO adds Durga Puja to its Representative List

• During the 16^th session of the Intergovernmental Committee of UNESCO’s 2003 Convention on Safeguarding of the Intangible Cultural Heritage, has added Durga Puja on the Representative List of Intangible Cultural Heritage of Humanity.
• Durga Puja was recommended by the committee for its initiatives to involve marginalized groups, and individuals as well as women in their participation.

Additional Fact-

1. Durga Puja is an important annual festival for Hindus, celebrated for 10 days in India and several parts of Bangladesh, It is celebrated to pay homage for Hindu Goddess Durga.
2. It is also called as akhalbodhan in West Bengal, Odisha, Assam and Tripura and Bhagabati Puja in Bangladesh,It will be celebrated between the months of September-Oct.
3. India totally has 14 intangible cultural heritage elements on the prestigious UNESCO Representative List of Intangible Cultural Heritage of Humanity, including the Durga Puja.
4. Durga Puja not only is a celebration of the feminine divinity but is a consummate expression of dance, music, crafts, rituals, practices culinary and cultural aspects. The festival transcends the boundaries of caste, creed and economic classes and joins the people together in its celebration.

India’s first green Hydrogen Based Energy Storage project

• National Thermal Power Corporation Limited(NTPC) has granted India’s first Standalone Fuel-Cell based Micro-grid with hydrogen production using electrolyser in NTPC Guest House at Simhadri, Visakhapatnam.
• It would be a precursor to large scale hydrogen energy storage projects and would be useful for studying and deploying multiple microgrids in various off grid and strategic locations of the country.
• The hydrogen would be produced using the advanced 240 kW Solid Oxide Electrolyser by taking input power from the nearby Floating Solar project.
• The hydrogen produced during sunshine hours would be stored at high pressure and would be electrified using a 50 kW Solid Oxide Fuel Cell.
• The system would work in standalone mode from 5PM in the evening to 7AM in the morning.

Program for the development of sustainable semiconductor and display ecosystem

• The cabinet as approved a comprehensive program for the development of sustainable semiconductor and display ecosystem, aimed to provide attractive incentive support to companies that are engaged in Silicon Semiconductor Fabs, Display Fabs, Compound Semiconductors / Silicon Photonics / Sensors (including MEMS) Fabs, Semiconductor Packaging (ATMP / OSAT), Semiconductor Design.
• Information and Broadcasting Minister Anurag Thakur has informed that Rs 76,000 crore will be spent on this project in the next six years.
• The India Semiconductor Mission will be led by global experts in semiconductor and display industry. It will act as the nodal agency for efficient and smooth implementation of the schemes on Semiconductors and Display ecosystem.

INTERNATIONAL

US tests its Laser weapon

• The United States Navy has successfully tested its Laser weapon and destroyer in West Asia.
• The US navy ship USS Portland has successfully destroyed the floating target in the Gulf of Aden using its laser weapon.
• The Weapon is aimed to counter the bomb laden drone boats deployed by the Houthi rebels.

Treaty Signed between India and Poland

• Cabinet has approved the Treaty on Mutual Legal Assistance in Criminal Matters between India and Poland.
• The Treaty will enhance capability and effectiveness of both countries in investigation and prosecution of crimes, including crimes related to terrorism through mutual legal assistance.
• Aimed to enhance effectiveness of both the countries in investigation and prosecution of crime, through cooperation and mutual legal assistance in criminal matters.

BANKING, FINANCE AND ECONOMICS

Incentive scheme to Rupay Debit cards

• The Cabinet has approved an incentive scheme to promote RuPayDebit cards and low-value [uptoRs. 2 000) BHIM-UPI transactions (Person-to-Merchant (P2M)] in the country.
• Under the scheme, the acquiring banks will be provided with incentives by the Government, by way of paying percentage of value of transactions (P2M) done through RuPay Debit cards and low-value BHIM-UPI modes of payments, at an estimated financial outlay of Rs 1,300 crore for a period of one year.
• This scheme will facilitate acquiring Banks in building robust digital payment ecosystem and promoting RuPay Debit card and BHIM-UPI digital transactions, across all sectors and segments of the population and further deepening of digital payments in the country.
• It will also help in making accessible digital modes of payments to unbanked and marginalized populations, who are outside of the formal banking and financial system.

SEBI constitutes new committee

• The Securities and Exchange Board of India has constituted Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS).
• The committee is headed by headed by Madhabi Puri Buch, and the committee also comprises experts from various technology domains.

Functions of the committee-

1. It recommends future roadmaps and improvements in the various ongoing technology projects.
2. To guide SEBI in designing and framing requirements for the various in house systems.
3. To guide SEBI from a domain perspective in finding appropriate technology solutions
4. To guide SEBI from a domain perspective, in ascertaining the adequacy of
5. SupTech / RegTech tools envisaged / proposed to be used in house for improving its capabilities.

SPORTS AND AWARDS

India Lifts gold again at Commonwealth Weightlifting Championships

• Indian weightlifters Punam Yadav, Arockiya Alish and Vikas Thakur have added three more medals to the country's tally at the ongoing Commonwealth Weightlifting Championships 2021 in Tashkent, Uzbekistan.
• Punam Yadav won a silver medal in the women's 76kg category, having lifted a total of 220kg with 98kg snatch and a 122kg in clean and jerk.
• R Arockiya Alish won bronze in the men’s 76kgcategory for a total lift of 214kg.
• India has totally won 12 medals in the Commonwealth Weightlifting Championships 2021 in Tashkent, Uzbekistan.

MISCELLANEOUS

Dec 16^th is observed as the the Vijay Diwas, celebrated to commemorate the victory of Indian armed forces against Pakistan in the 1971 war.