Current Affairs 12-JAN-2024 (The Hindu)

Agnipath Scheme

D => Pg-16)

Agnipath Scheme

• The Agnipath scheme is a recruitment scheme for defense personnel below officer ranks with specific provisions for service duration.
• 75% of personnel leave service in just four years
• 25% continue for 15 years under permanent commission

Eligibility Criteria:

• Age: 17.5 years to 21 years
• Recruitment: Twice a year through recruitment rallies

After Selection:

• Training for six months
• Deployed as a soldier for 3 and 1/2 years
• Starting salary: Rs 30,000
• Salary will go up to Rs 40,000 by the end of the four-year service

Practice Question – Prelims

With reference to Agnipath scheme, Consider the following statements:

1. The system of recruitment under the Agnipath scheme is only for personnel below officer ranks.

2. Initial recruitment under the scheme is the same for all the three armed forces.

3. Seva nidhi package is accorded only to the soldiers who are retained in the armed forces after initial 4 years of service.

How many of the above-mentioned statements are correct?

(a) Only one

(b) Only two

(c) All three

(d) None

Speaker Practice in India

C => Pg-12)

Practice Question – Mains GS - II

‘Once a speaker always a speaker’! Do you think this practice should be adopted to impart objectivity to the office of the speaker of Lok Sabha? How lack of impartiality is impinging the parliamentary business in India?
(150 words, 10 marks)

Implementation of Speaker Practice in India

Introduction:

• British speaker elected at the beginning of parliament by and from among members of the House of Commons.
• Speaker resigns from his political parties.
• Speaker’s constituency is unchallenged.
• Could be re-elected as many times as wanted.

Why India should implement the practice?

• Remain politically unbiased all the time.
• Extensive functions to perform in administrative, judicial, and regulatory matters are not influenced.
• Stronger security of tenure for the speaker, helping them remain politically impartial.
• Contributes to continuity and the preservation of institutional knowledge of the speaker.
• Resolve procedural issues, interpreting precedents, and maintaining the integrity of parliamentary proceedings.
• Freedom from interference and pressures.
• Enhance credibility and contribute to the overall trust in parliamentary proceedings.

How biased decisions are impinging parliamentary business in India:

• Increases disruption in parliament.
• Contributes to increased political polarization and division among political parties.
• Prompt legal challenges divert attention from pressing legislative issues.
• Hindrance in the functioning of parliamentary committees.
• Leads to the overturn of the government itself.

Conclusion:

• Addressing issues of bias in parliamentary decisions is essential.
• Instead of constituting a new independent body, it is good to implement the practice of ‘Once a speaker, always a speaker’!
• Restore independence and impartiality to the office of the speaker.

National Infrastructure Investment Fund (NIIF)

D => Pg-20)

NIIF

Pre 1991:

• Development Banks:
  • Provided long-term and high-volume funding.
  • Received funding from investors and issued bonds to provide funding for developmental projects.
  • Examples: IFC, IDBI, and ICICI.
  • Development Banks were initially loss-making.
  • Privatization.
  • Conversion to commercial banks.

Present Scenario:

• Huge demand for infrastructure funding.
• Lack of a dedicated institution.

National Infrastructure Investment Fund (NIIF):

• Established: 2015.
• Category: Quasi Sovereign Fund.
• 49% investment by the Indian government.
• 51% investment by Third-Party .
• Sovereign Wealth Fund: Maintained by the national government through surplus revenue to earn passive income.

Third Party Investors in NIIF

Do You Know?

• NIIF is registered as a category II Alternative Investment Fund with the SEBI.

Focus:

• Commercially Viable Sectors:
  • Greenfield projects.
  • Brownfield projects.
  • Stalled infrastructure projects.
• Sectors: Energy, transportation, housing, water, and waste management.

Significance:

• Earning returns for investors.
• Providing funding to the infrastructure sector.

Funds under NIIF:

• Master Fund:
  • Core Infrastructure Fund.
  • Invests in infrastructure projects.
• Fund of Funds:
  • Maintained by renowned Fund Managers.
  • Utilizes this fund along with other private funds to invest in return-generating equity.
• Strategic Opportunities Fund:
  • Provides long-term funding to emerging businesses with high growth potential.

Practice Prelims Question

Consider the following statements about the NIIF (National Infrastructure Investment Fund).

1. NIIF is the Sovereign Wealth Fund of the Indian government, which invests in infrastructure projects in India.

2. NIIF is registered as a category II Alternative Investment Fund with the RBI.

3. “Core Infrastructure Fund”, “Fund of Funds” and “Strategic Opportunities Fund” are the three funds maintained by the NIIF.

How many of the above mentioned statements are correct?

(a) Only one

(b) Only two

(c) All three

(d) None