HARYANA
HAFED records profit of Rs 207 crore in 2021-22
Cooperation Minister Banwari Lal informed that the Haryana State Cooperative Supply and Marketing Federation Limited (HAFED) has secured a substantial order to export 65,000 metric tonnes of rice in the current year.
“The HAFED has achieved a profit of Rs 207 crore during the fiscal year 2021-22, with a turnover of Rs 1,700 crore. This includes the successful export of 20,000 metric tonnes of rice,
Apprising the efforts being made by the Dairy Sector to produce high-quality products and ensuring the welfare of farmers engaged in milk production, Lal highlighted the successful implementation of the Sanjha Dairy Scheme in a recent press briefing. It aims to support cattle herders without pasture by constructing sheds in villages and providing them with the necessary infrastructure to produce milk.
The Sanjha Dairy Scheme has been launched in five strategic locations across the state, including Kaithal, Kurukshetra, Jind and Bhiwani. By empowering animal herders with here, the scheme fosters self-sufficiency and economic growth within the community.
INTERNATIONAL
Germany’s Economic Downturn: Fourth Largest Global Economy Slips into Recession
Germany, the fourth largest economy in the world, is currently facing a recession due to a decline in the Euro and an unexpected contraction in the economy during the first three months of 2023. This contraction, marking the second consecutive quarter of decline, meets one definition of a recession.
According to data released by the Federal Statistical Office, Germany’s gross domestic product (GDP) decreased by 0.3 percent between January and March.
This follows a 0.5 percent decline in the previous quarter, making it the largest economy in Europe to experience a downturn.
Ukraine’s Nova Kakhovka Dam Disaster
In recent events, the Nova Kakhovka Dam in Ukraine has suffered a catastrophic blow, leading to concerns of devastating flooding. Ukraine’s military command has accused Russia of causing the explosion, given the dam’s strategic significance.
The Nova Kakhovka Dam is situated on the Dnipro River in southern Ukraine. Constructed in 1956 as part of the Kakhovka hydroelectric power plant, it holds back a massive reservoir of water, estimated to contain 18 cubic kilometers, similar in volume to Utah’s Great Salt Lake. The dam’s destruction would have severe repercussions locally and affect Ukraine’s broader war effort.
NATIONAL
India emerged as the World’s 2nd largest producer of crude steel
Union Minister of Steel and Civil Aviation, Sh. Jyotiraditya M. Scindia has stated that India has moved from 4th largest producer of crude steel to the second largest producer of crude steel from 2014-15 to 2022-23 standing just behind China which is the largest exporter of crude steel in the world.India has reported a hike of 42% in Crude steel production from 88.98 MT(Metric ton) in 2014-15 to 126.26 MT in 2022-23.
India stands as a net exporter of steel witnessing an export of 6.72 MT of finished steel against the import of 6.02 MT in the year 2022-23.
In the financial year 2022-23 alone,total finished Steel Production was 122.28 MT which is a increase of 49 % as compared to 81.86 MT in financial year 2014-15.
Under the PLI(Productive linked Incentive) scheme, the Government has approved Rs. 6322 crores to give a new impetus to the Steel sector. Shri Scindia said that the PLI scheme is expected to generate an investment of about Rs. 30,000 Crores and additional capacity creation of about 25 Million Tonnes of specialty steel in the next 5 years.
PM-KUSUM Scheme: Centre Explores Agri Infra Fund for Solar Projects on Farm Lands
The Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) Scheme, launched in 2019, aims to enhance energy security for farmers in India and promote the use of clean energy in the agriculture sector. The scheme seeks to achieve India’s commitment to increasing the share of non-fossil fuel sources in the country’s installed capacity of electric power. In a bid to boost the implementation of solar projects on agricultural lands, the central government is considering linking the PM-KUSUM scheme with the Agriculture Infrastructure Fund (AIF). This move aims to provide farmers with access to cheaper loans for setting up solar projects and procuring equipment.
Individual farmers, groups of farmers, cooperatives, panchayats, Farmer Producer Organizations (FPOs), and Water User Associations (WUAs) can set up solar power plants with capacities ranging from 500 kW to 2 MW.
Railway kavach system
A significant step towards improving train operation safety in India has been taken by Ministry of Railways with the development of Kavach, an indigenous Automatic Train Protection System.
The Research Designs and Standards Organisation (RDSO) collaborated with three Indian vendors to create Kavach, which assists locomotive pilots in avoiding Signal Passing At Danger (SPAD) and over speeding, while also aiding train operation during adverse weather conditions such as dense fog. By automatically applying brakes when necessary, Kavach ensures better control of train speed and prevents potential accidents.
Kavach is a cost-effective solution that has been certified with Safety Integrity Level 4 (SIL-4), ensuring high safety standards with an incredibly low probability of error (1 error in 10,000 years). Its implementation is part of the Atmanirbhar Bharat initiative, with plans to expand it to a network spanning 2,000 kilometres by 2022-23
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