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Current Affairs 22-09-2018

CIVIL SERVICE DIGEST(CSD)

PM to launch Pradhan Mantri Jan Arogya Yojana at Ranchi

About the scheme:

  • Ayushman Bharat is an attempt to ensure that universal healthcare reached the weaker sections of society and it could raise the ratio of people availing primary and secondaryhealthcare.
  • The scheme will provide a defined benefit coverage of Rs 5 lakh per family per year for secondary and tertiary care hospitalization to 10crore poor and vulnerable families (approximately 50 crorebeneficiaries).
  • The beneficiary families covered under the scheme will be allowed totake cashless benefits from any public/private empanelled hospitals across the country.
  • The beneficiaries will be decided on the basis of the Socio-Economic and Caste Census 2011 (SECC)database.
  • It will be rolled out across all States/UTs in all districts with anobjective to cover all the targeted beneficiaries. To control costs, the payments for treatment will be done on a package ratebasis.
  • The scheme proposes setting up of Ayushman Bharat National Health Protection Mission Council (AB-NHPMC) at the national level to give policy directions and fostering coordination between centre and states. The council will be chaired by Union Health and Family Welfare Minister.
  • The states would be required to set up a dedicated entity called theState Health Agency (SHA) to implement the scheme.
  • In partnership with NITI Aayog, a robust, modular, scalable and inter operable IT platform will be made operational which will entaila paperless, cashless transaction.
  • The expenditure incurred in premium payment will be shared between Central and State Governments in a specified ratio as per Ministry of Finance guidelines.
  • The scheme is expected to increase access to quality health and medication. It is also expected to lead to timely treatments,improvements in health outcomes, patient satisfaction, improvement in productivity and efficiency, job creation thus leading to an improvement in the quality of life.

Importance of the program:

  • The government has made this a technology-driven initiative, which is a great step to ensure transparency and effective implementation, and at a grander scale, this initiative would encourage more work in development of overall health infrastructure in the country.
  • Growing healthcare infrastructure in the country will help 50 crore poor people access medicines and essential drugs.
  • Besides addressing the challenges of geographic inaccessibility and unaffordability, Ayushman Bharat has the potential of creating a cost- effective digitised health economy and catapulting India to the league of developed nations.

SEBI relaxes KYC norms for foreign investors

  • Securities and Exchange Board of India, SEBI has issued revised Know Your client (KYC) norms, providing relief to foreign portfolio investors, FPI.
  • Under new norms residents as well as non-resident Indians have been permitted to hold a non-controlling stake in such entities.
  • There will also be no restriction on them to manage non investing FPIs, SEBI registered offshore funds as well as registered investment managers.
  • Certain categories of FPIs would be required to maintain a list of beneficial owners and provide the same to the regulator.
  • SEBI said the norms have been finalized after taking into consideration suggestions from a panel headed by former RBI Deputy Governor and comments from the public.

What is FPI??

  • In economics, foreign portfolio investment is the entry offundsinto a country whereforeignersdeposit money in a country’sbankor make purchases in the country’sstockandbond markets,sometimes
    for speculation.
  • Most foreign portfolio investments consist of securities and other foreign financial assets that are passively held by the foreigninvestor.
  • This does not provide the foreign investor with direct ownership of the financial assets and can be relatively liquid depending on the volatilityof the market that the investment takes place in.
  • Foreign portfolio investments can be made by individuals, companies, or even governments in international countries.
  • This type of investment is a way for investors to diversify their portfolio with an international advantage.
  • Foreign portfolio investment shows up in a country’s capital account.
  • It is also part of the balance of payments which measures the amountof money flowing in and out of a country over a given time period.

How FPI is different from FDI?

  • Foreign portfolio investment is similar, but differs from foreign direct investment.
  • In foreign portfolio investment the investor purchases stocks, securities and other financial assets but does not actively manage the investmentsor the companies that are issuing the assets.
  • So, in FPI the investor does not have direct control over the securities orbusinesses.

  • This means that FPI tends to be more liquid and less risky than FDI.The relatively high liquidity of FPI’s makes them much easier to sell than FDI’s.
  • Foreign portfolio investments also tend to have a shorter time frame for returns than foreign directinvestments

Benefits that come to investors from utilizing foreign portfolio investments include:

  • Portfolio diversification: FPI gives investors a fairly simple way to diversify their portfolio internationally.
  • International Credit: FPI gives investors a larger credit base because they are able to access credit in the foreign countries that they have large amounts of investment in.
  • Benefits from the Exchange rates: If an investor has an FPI in a foreign country with a stronger currency than their own country the difference in exchange rates between the two countries can benefit the investor Access to a larger market

PM to inaugurate first airport of western Odisha in Jharsuguda today

  • Prime Minister Narendra Modi will launch a series of developmental projects in Odisha.
  • The airport will bring western Odisha on the country’s aviation map, and facilitate regional air connectivity through the government’s UDANscheme.

About UDAN:

  • It is a regional air connectivity scheme to provide connectivity tounserved and underserved airports across the country through revitalization of existing airports.
  • The scheme ensures growth, development, affordability andconnectivity.
  • The primary objective of the scheme is to facilitate regional growth, givea boost to employment, and promote tourism by making flying affordable to masses.
  • It extends Viability Gap Funding to the operators in order to encourage them to fly smaller aircraft to underserved airports with a commitmentto fix the prices of the tickets at Rs.2500 for an hour long flight (at least for half of theseats).
  • UDAN Scheme is an effort to make a common man’s dream of flying, a reality.
  • It is a market-based intervention mechanism where the seat subsidiesare bided for, by theairlines.
  • Terminal navigation landing charges, parking and landing chargesare exempt for Regional Connectivity Scheme (RCS)flights.
  • Security and fire services will be provided free of cost. Besides,electricity, water and other utility services will be provided at concessionalrates.
  • The scheme proposes a complete win-win situation for both the airlines as well as the targetbeneficiaries.
  • It retains potential business profits to the airlines by limiting the category of seats belonging to the subsidized category at 50%, while the other50% of the seats could be sold at marketprices.
  • Centre funds 80% of the subsidy amount to be contributedtowards subsidies and the rest is contributed by the state. The principle of cooperative federalism is thusupheld.

Revival of Fertilizer Plant at Talcher.

  • PM will launch a series of developmental projects in Odisha including an airport at Jharsuguda and unveil a plaque marking the revival of Fertilizer Plant at Talcher.
  • This is the first plant in India which will have a coal gasification-based fertilizer unit and will also produce natural gas.

Cyclone DAYE weakens into deepdepression

  • The cyclonic storm DAYE has weekend further into a depression over Vidarbha inMaharashtra.
  • It is expected to move west-northwestwards and weaken further into a low pressure in next 24hours.
  • Cyclone Dayecrossed south Odisha and adjoining north Andhra Pradesh coast near Odisha’s Gopalpur on Friday morning, which resulted inheavy rains and strong winds in various districts in theregion.
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