1

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The Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved the following
schemes and initiatives on 8th February 2024:
 Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY) for Fisheries Sector Micro
& Small Enterprises
 Extension of Fisheries Infrastructure Development Fund (FIDF) for 3 years up to 2025-26
 Telecom spectrum auctions at a base price of Rs 96,317.65 crore
 6 Multi-Tracking Projects Across Indian Railways More Details

Ajay Kumar Sood, Principal Scientific Advisor to the GoI launched ‘Science for Women: A
Technology and Innovation (SWATI) Portal, India’s 1st-of-its-kind interactive online portal on
Indian women in STEMM (Science, Technology, Engineering, Mathematics & Medicine).
 SWATI portal was developed, hosted and maintained by the National Institute of Plant
Genome Research (NIPGR). The portal was launched on the occasion of International Day of
Women and Girls in Science 2024 at the Indian National Science Academy (INSA), New
Delhi, Delhi.

The Department of Administrative Reforms and Public Grievances (DARPG) under the Ministry
of Personnel, Public Grievances and Pensions has unveiled the National e-Governance Service
Delivery Assessment (NeSDA) Way Forward Annual Report 2023. The report showcases the
substantial progress made by States, Union Territories (UTs) and seven sectors during 2023 in
the mandatory e-Services and total e-Services under the NeSDA Framework.

On February 9, 2024, Small Industries Development Bank of India (SIDBI) unveiled the
CRISIL’s impact assessment report of the Fund of Funds for Startups (FFS) namely ‘Prabhaav‘.
As of November 30, 2023, 129 Alternative Investment Fund (AIF) were sanctioned out of FFS
across various segments. Click here to read more

The Department of Economic Affairs (DEA) of Ministry of Finance (MoF) and Asian
Development Bank (ADB) has signed a USD 200 million loan agreement (Ordinary
Operations) for the ‘Climate Resilient Brahmaputra Integrated Flood and Riverbank Erosion
Risk Management(FRERM) Project in Assam’.
 Aim: to strengthen flood and riverbank erosion risk management along the 650-kilometer
(km) long main stem of the Brahmaputra River in Assam. The Project activities will be led,
managed, and coordinated by the Flood and River Erosion Management Agency of the
Assam (FREMAA)

Narendra Modi, Prime Minister (PM) of India, along with Mauritius PM Pravind Kumar
Jugnauth and Sri Lankan President Ranil Wickremesinghe, virtually launched India’s Unified
Payments Interface (UPI) in Mauritius and Sri Lanka. With the launch of UPI, Mauritius citizens
will be able to make payments in India through the Mauritius Instant Payment System (IPS)
app.
 In addition to the UPI, the RuPay card service was also launched in Mauritius. Click here to
read more

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The Reserve Bank of India (RBI), in exercise of powers conferred by Section 35B of the Banking
Regulation (BR) Act, 1949, has increased the remuneration ceiling of Non-Executive Directors
(NEDs) of banks from Rs 20 lakh per annum to Rs 30 lakh with immediate effect.
 Permits Indian Banks in GIFT-IFSC for Bullion Exchange Trading and SCC Status.
 cancels license of Jai Prakash Narayan Nagari Sahakari Bank based in Basmathnagar,
Maharashtra. More Details

Life Insurance Corporation of India (LIC) has increased its paid-up share in SBI Cards &
Payments Services Limited to 5.02% from 4.99%. The total shares of LIC have increased to
47,711,794 from 47,410,710.
 For this purpose, LIC has made Open Market Purchases of about 3,01,084 shares of SBI
Cards with an average cost of Rs.716 per share.

Mahindra Defence Systems Limited and Brazil-based Embraer Defense & Security have signed a
Memorandum of Understanding (MoU) for the Medium Transport Aircraft (MTA) procurement
project of the Indian Air Force (IAF) in New Delhi, Delhi.
 As per the MoU, both firms will be jointly developing C-390 Millennium multi-mission
aircraft which will be procured by IAF. The C-390 Millennium is the most advanced military
airlifter in the market which can carry a payload of about 26 tonnes. It flies at a speed of
about 870 km/h.

Researchers from the Kerala Forest Research Institute (KFRI), Botanical Survey of India, and
the University of Hyderabad have discovered a new fungus species, Trichoglossum
Syamviswanathii in the moist soil of Bambusetum in Thrissur (Kerala) along the Western
Ghats. The species belongs to the family Geoglossaceae (Ascomycota) and genus
Trichoglossum.

The Australian Under-19 (U19) cricket team won the International Cricket Council (ICC) U19
Men’s Cricket World Cup (CWC) 2024 title defeating India in the finals held in Willowmoore
Park stadium in Benoni, South Africa. The 15th edition of U19 Men’s CWC held from 19th
January to 11th February 2024 was hosted by South Africa.

The Ministry of Education (MoE) has partnered with Federation Internationale de Football
Affiliation (FIFA) to promote football in schools across India by integrating football-related
activities into the education system. The partnership aims to distribute 11 lakh footballs across
India in a phased manner.
 Union Minister of Education, Dharmendra Pradhan has distributed 6,848 footballs to
schools in Odisha as part of the Footballs for Schools (F4S) programme.

The 9th United Nations (UN) International Day of Women and Girls in Science (IDWGIS) 2024
was observed across the globe on 11th February 2024 with the theme of “Women and Girls in
Science Leadership: A New Era for Sustainability”.
 Aim: to promote full and equal access to and participation of women and girls in the fields
of Science, Technology, Engineering, and Mathematics (STEM)

World Unani Day is annually observed across the globe on 11 February to commemorate the
birth anniversary of social reformer and renowned Unani scholar Mohammad Ajmal Khan
better known as Hakim Ajmal Khan, widely regarded as the pioneer of Unani medicine in India.
 Theme: “Unani Medicine for One Earth, One Health.”

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 The 1st ever World Unani Day was observed on 11 February 2017 at the Central Research
Institute of Unani Medicine (CRIUM) in Hyderabad, Telangana. Read More

The Lieutenant Governor of Delhi, and the Chairperson of Delhi Development Authority (DDA),
Vinai Kumar Saxena, approved the annual budget of DDA, Ministry of Housing and Urban
Affairs (MoHUA) for Financial Year 2024-25 (FY25) with an outlay of Rs 8,811 crore.
 Revenue targets for FY25 are set at Rs 9,182 crores, reflecting a significant 19% increase
from FY24. Click here to read more

SBI reclaims the most valuable PSU tag following a 10% drop in LIC's share
Paytm Payments Bank Independent Director Manju Sharma Resigned on February 1,
2024
India's oldest living Test cricketer Dattajirao Gaekwad dies at 95
HDFC Mutual Fund rolls out campaign ‘Seekh’
Mastercard launches tokenisation service for banks in India

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 AFFAIRSCLOUD TODAY
Current Affairs 14 February 2024 : Headlines

1. Cabinet Approvals on 8th February 2024

2. GoI Launched SWATI, 1st-of its kind Portal for Women in STEMM
3. DARPG releases NeSDA Way Forward Annual Report for 2023
4. Prabhaav: SIDBI unveils the CRISIL study on impact of Fund of Funds on Startup
Ecosystem
5. DEA & ADB Signed USD 200 Million Loan for FRERM Project in Assam
6. India Extends UPI Service in Sri Lanka and Mauritius
7. RBI raises wage ceiling for NEDs of banks to Rs 30 lakh; Permits Indian Banks in GIFT-
IFSC for Bullion Exchange Trading and SCC Status
8. LIC Increases Its Stake in SBI Cards to 5.02%
9. Mahindra Defence & Embraer Defense Collaborated for IAF’s MTA Project
10. Trichoglossum Syamviswanathii: New Fungus Species Discovered in Kerala
11. Australia Wins U19 Men’s Cricket World Cup by Defeating India at Finals
12. MoE & FIFA collaborates to Promote Football in Indian Schools
13. International Day of Women and Girls in Science 2024- February 11
14. World Unani Day 2024- February 11
15. Delhi LG VK Saxena approves DDA budget of Rs 8,811 cr for FY25

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 NATIONAL AFFAIRS
Cabinet Approvals on 8th February 2024

The Union Cabinet chaired by Prime Minister (PM) Narendra Modi approved the following schemes and
initiatives on 8th February 2024
i.Approved Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).
ii.Approved Extension of Fisheries Infrastructure Development Fund (FIDF) for 3 years.
iv.Telecom spectrum auctions at a base price of Rs 96,317.65 crore.
Cabinet Approved PM-MKSSY for Fisheries Sector Micro & Small Enterprises
The Union Cabinet chaired by PM Modi approved the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-
MKSSY) a Central Sector sub-scheme under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
 The scheme aims to formalise the fisheries sector and support the fisheries micro and small
enterprises over the next 4 years (FY 2023-24 to FY 2026-27) in all States/Union Territories (UTs)
Expenditure:
i.The estimated outlay of the scheme is Rs 6000 crores. This consists of 50%(RS 3000 crore) public finance
including the World Bank and the Agence Française de Développement (AFD) external financing.
ii.The remaining 50% is the expected investment from the beneficiaries / private sector leverage. The targeted
beneficiaries include,
 people directly engaged in the fisheries value chain(Fishers, Fish (Aquaculture) Farmers, Fish workers,
Fish Vendors).
 Micro and small enterprises(Limited Liability Partnerships (LLPs), Self Help Groups (SHGs),
cooperatives, Fish Farmers Producer Organizations (FFPOs), and startups), registered in India.
 Department of Fisheries under Ministry of Fisheries, Animal Husbandry and Dairying.
Benefits:
i.Formalise the fisheries sector and enhance access to institutional credit. This will benefit around 6.4 lakh
micro-enterprises and 5,500 fisheries cooperatives.
ii.Create a National Fisheries Digital Platform and provide work-based identities to 40 lakh small and micro-
enterprises.
iii.Promote environment and sustainability initiatives, and address aquaculture crop losses through insurance
coverage.
iv.This will create 1.7 lakh new jobs, with a special focus on employing 75,000 women.
v.This will also generate 5.4 lakh continued employment opportunities in the micro and small enterprises value
chain.
Major components:
Component 1-A: Formalization of the fisheries sector and facilitating access of fisheries micro-enterprises to
Government of India programs for working capital financing:

7
i.NFDP will be created and stakeholders will be mobilized to register on it. This will offer financial incentives,
training, and support for project preparation, documentation, and strengthening of existing fisheries
cooperative societies.
Component 1-B: Facilitating the adoption of aquaculture insurance:
i.The proposal is to provide insurance coverage for at least 1 lakh hectares of aquaculture farms and to
incentivise farmers with a one-time incentive of 40% of the cost of the premium, subject to a limit of Rs 25000
per hectare of water spread area of the aqua farm.
ii.The maximum incentive payable to a single farmer will be Rs 1 lakh and the maximum farm size eligible for
the incentive is 4 hectares
iii.Additional incentives of @10% will be provided to Scheduled Caste (SC), Scheduled Tribes (ST), and Women
beneficiaries.
Component 2: Supporting microenterprises to improve fisheries sector value chain efficiencies:
Aims to improve efficiency by supporting 55,000 targeted micro and small enterprises in the fishery sector by
incentivizing microenterprises to engage in production and job creation. This will be done through
performance grants with measurable parameters.
Component 3: Adoption and expansion of fish and fishery product safety and quality assurance systems:
The proposal is to encourage safety and quality assurance systems for marketing fish and fishery products by
offering performance grants based on measurable parameters.
Performance Grants:

SC, ST and
General Category
Women

shall not exceed shall not exceed

25% of the total 35% of total
Microenterprise
investment or Rs investment or Rs
35 lakhs 45 lakhs

shall not exceed shall not

25% of total exceed 35% of
Small Enterprise
investment or Rs total investment
75 lakhs or Rs100 lakhs
For Village-level organizations and Federations of Self-Help Groups (SHGs), FFPOs, and Cooperatives – not
more than 35% of total investment or Rs 200 lakhs (whichever is lower)
Component 4: Project management, monitoring, and reporting:
Under this component, it is proposed to set up Project Management Units (PMUs) to manage, implement,
monitor, and evaluate project activities.
Additional Information:
i.Fish production increased by 79.66 lakh tonnes from 2013-14 to 2023-24, with robust growth of coastal
aquaculture and shrimp production.
ii.Employment and livelihood opportunities have been provided to about 63 lakh fishers and fish farmers.
iii.The coverage per fisherman under the Group Accident Insurance Scheme (GAIS) has been increased from Rs
1 Lakh to Rs 5 Lakh.
Cabinet approved Extension of FIDF up to 2025-26
The Union Cabinet chaired by PM Modi has approved the extension of the Fisheries Infrastructure Development
Fund (FIDF) for 3 years up to 2025-26 within the approved fund of Rs 7522.48 crore and budgetary support of
Rs 939.48 crore.
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Background:
i.FIDF was created during 2018-19 with a total funds size
of Rs 7522.48 crore to address the infrastructure
requirement for the fisheries sector.
ii.121 fisheries infrastructure projects with an investment
cost of Rs. 5588.63 crore have been approved between
2018-19 and 2022-23.
iii.27 completed projects under FIDF created safe landing
and berthing facilities for more than 8100 fishing vessels
and created 2.5 lakh direct and indirect employment.
Key Points
i.FIDF offers concessional finance to Eligible Entities,
including State Governments and Union Territories(UTs)
for the development of fisheries infrastructure facilities.
ii.The Nodal Loaning Entities (NLEs): NABARD(National
Bank for Agriculture and Rural Development), NCDC
(National Cooperative Development Corporation), and All scheduled Banks.
iii.The Government of India provides interest subvention up to 3% per annum for a repayment period of 12
years, inclusive of a 2-year moratorium, at an interest rate not lower than 5% per annum.
iv.FIDF is open to State Governments, State Corporations, Fisheries Cooperative Federations, Panchayat Raj
Institutions, Self Help Groups(SHGs), Non-Governmental Organisations (NGOs), Women, and private
entrepreneurs.
Cabinet Approves Telecom Spectrum Auctions at a Base Price of Rs 96,317.65 Crore
The Cabinet has approved the auction in eight spectrum bands for mobile phone services at a base price of Rs
96,317 crore to improve the quality of telecom services and coverage for consumers.
Key Points
i.All available spectrum in various bands i.e. 800 megahertz (MHz), 900 MHz, 1800 MHz, 2100 MHz, 2300,
2500, 3300 megahertz (MHz) and 26 gigahertz (GHz) will be put to auction.
 A total of 10,523.15 MHz will be offered with a valuation of Rs. 96,317.65 crore.
ii.A committee chaired by the Cabinet Secretary (current cabinet secretary Rajiv Gauba) will be formed to
finalise plans for re-farming of certain spectrum bands.
iii.In September 2021, the government decided that the spectrum auctions should be held annually.
Note: In the last round of auctions, the government sold 71% (51,236 MHz) of the 72,098 MHz of 5G spectrum
put up for sale amounting to Rs 1,50,173 crore.
Additional info:
The Cabinet also approved the proposal for spectrum requirements of rail-based urban/regional transit
systems like NCRTC(National Capital Region Transport Corporation) in the 700 MHz band for Automatic Train
Protection (ATP) systems and operations.
CCEA Approves 6 Multi-Tracking Projects Across Indian Railways
The Cabinet Committee on Economic Affairs (CCEA) chaired by PM Modi has approved six railway projects
worth Rs. 12,343 crores with 100% funding from the Central Government.
 The projects are the result of PM-Gati Shakti National Master Plan for multi-model connectivity to
facilitate ease of travelling, minimise logistics costs, reduce oil imports and lower Carbon dioxide (CO2)
emissions
Key Points
i.The projects will cover 18 districts in six states and will increase the existing railway network by 1020 km.

9
ii.The capacity augmentation works will result in an additional freight traffic of 87 MTPA(Million Tonnes Per
Annum)
iii.The section for doubling stretch are,

Length Cost (Rs

S.No Section (State)
(Km) in Crore)

1 Ajmer-Chanderiya (Rajasthan) 178.28 1813.28

2 Jaipur-Sawai Madhopur (Rajasthan) 131.27 1268.57

Luni-Samdari-Bhildi (Gujarat &

3 271.97 3530.92
Rajasthan)

Agthori-Kamakhya with new Rail

4 7.062 1650.37
cum Road Bridge (Assam)

Lumding-Furkating (Assam &

5 140 2333.84
Nagaland)

Motumari-Vishnupurm
88.81
(Telangana & Andhra Pradesh(AP))
6 1746.20
Rail over Rail at Motumari
10.87
(Telangana & AP)
About Ministry of Fisheries, Animal Husbandry and Dairying:
Union Minister– Parshottam Rupala(Rajya Sabha- Gujarat)
Minister of State (MoS)– Sanjeev Kumar Balyan(Constituency- Muzaffarnagar, Uttar Pradesh); L.
Murugan(Rajya Sabha – Madhya Pradesh)

GoI Launched SWATI, 1st-of its kind Portal for Women in STEMM

On 11th February 2024, Ajay Kumar Sood, Principal Scientific Advisor to the Government of India (GoI)
launched ‘Science for Women: A Technology and Innovation (SWATI) Portal(https://swati.nipgr.ac.in/),
India’s 1st-of-its-kind interactive online portal on Indian women in STEMM (Science, Technology, Engineering,
Mathematics & Medicine).

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  The portal was launched on the occasion of International Day of Women and Girls in Science 2024 at the
Indian National Science Academy (INSA), New Delhi, Delhi.
About SWATI portal:
i.SWATI portal was developed, hosted and maintained by the National Institute of Plant Genome Research
(NIPGR).
ii.SWATI portal is an initiative by the Inter Academy Panel of India (IAP) on Women in STEMM.
iii.The portal was funded by Department of Biotechnology(DBT), Ministry of Science and Technology(MoST).
Note: IAP is constituted jointly by 3 science academies Indian Academy of Sciences (IASc)(Bengaluru,
Karnataka); National Academy of Sciences India (NASI) (Prayagraj, Uttar Pradesh) and INSA (New Delhi, Delhi).
Objective of SWATI:
i.To include every Indian Women in Science (WiS), career stages, subjects, spanning both Academia and the
Industry.
ii.To enable a reliable and long term research on the issues of equality, diversity and inclusivity in India,
iii.To develop an active search engine and searchable database (Name, Affiliation, Area of Interest).
Key Points:
i.The portal will provide a platform to view the expertise and contributions of Indian Women in STEMM.
ii.The database of SWATI Portal will serve in policy making to address the challenges of Gender-gap.
Features:
i.The portal includes sections like Icons – Awardees (Padma / Shanti Swarup Bhatnagar / Stree Shakti Science
Samman) & Directors, Secretaries Academy Presidents etc.,.
ii.At present, 3000 ‘WiS Data Cards’ are incorporated in the portal.
About the Event:
i.The event was organised with a focus on the importance of “Science for Women & Women in Science”.
ii.This offers a platform to discuss and evolve a roadmap for ‘Women in Science’ & ‘Science for Women’.
Key People: Subhra Chakraborty, Director of NIPGR; Quarraisha Abdool Karim, President of Third World
Academy of Sciences (TWAS); Balram Bhargava, President, NASI; Umesh V Waghmare President, IASc;
Ashutosh Sharma, President, INSA participated in the event.

DARPG releases NeSDA Way Forward Annual Report for 2023

The Department of Administrative Reforms and Public Grievances (DARPG) under the Ministry of Personnel,
Public Grievances and Pensions has unveiled the National e-Governance Service Delivery Assessment
(NeSDA) Way Forward Annual Report 2023.
 The report showcases the substantial progress made by States, Union Territories (UTs) and seven
sectors during 2023 in the mandatory e-Services and total e-Services under the NeSDA Framework.
NeSDA Framewrok:
DARPG formulated the NeSDA Framework to:
 Analyse India’s e-governance journey;

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  Increase the number of e-services;
 Increase the use of integrated/centralised portals; and
 Collaborate with the Right to Service (RTS) Commission.
NeSDA Study:
i.DARPG conducts the NeSDA study biennially (every 2 years).
ii.2 NeSDA Reports (NeSDA 2019 & 2021) have been released, and the 3rd report (NeSDA 2023) is in the
pipeline.
Highlights of 2023 Way Forward Annual Report:
i.DARPG organised 3 Regional Conferences on e-Governance in Bhopal (Madhya Pradesh), Mumbai
(Maharashtra), and Guwahati (Assam), respectively.
ii.A total of 16,487 e-services were provided across States/UTs in December 2023, as against 11,614 in April
2023.
 It has been achieved by persistent efforts of state/UT, DARPG monthly reviews, best practice sharing,
and focused analysis.
 Maximum e-services are provided in the Local Governance & Utility Services sector.
Saturation Level Up:
A saturation level of 76% of Mandatory e-services has been achieved by States/UTs i.e., 1,528 out of 2,016
(56*36 States/UTs), an increase from 69% under NeSDA 2021.
 Jammu and Kashmir (J&K) provides the maximum (1117) number of e-Services, across States/UTs.
 Tourism sector has achieved the highest saturation for provision of all mandatory e-services in 23 out of
36 States/UTs. This is followed by Environment and Labour & Employment sector in 20 out of 36
States/UTs.
Increase in Use of Unified/Centralized Portals:
One of the major objectives of the NeSDA Way Forward was the adoption of e-Service delivery via a Single
Unified Portal by respective States/UTs.
 J&K, Kerala, Assam, and Odisha provide 100% of their services through their identified Single Unified
Service Delivery Portal i.e., e-UNNAT (Electronic -Unified Integrated Accessible Transparent), e-
Sevanam, Sewa Setu, and Odisha One, respectively.
Promotion of Faceless Services:
i.DARPG has been disseminating the best practices across the States and UTs and attempting to promote
faceless and suo-moto entitlement-based delivery of services.
ii.9 NeSDA Way Forward Monthly Reports were published between March to December 2023 to monitor the
status of e-service delivery, across States/UTs.
 Monthly reports in 2023 cover 7 sectors, featuring 40+ best practices.
Note:
 Suo-moto delivery of services involves government independently providing e-services to citizens,
without any explicit application or request.
 Such services are provided to the entitled and eligible beneficiaries.
Collaboration with RTS Commission:
i.The DARPG has embarked on a collaborative initiative with the Chief Commissioners and Appellate Officers of
RTS Act across various States/UTs.
ii.The collaboration aims to leverage the RTS framework and enhance e-service delivery nationwide in line
with the NeSDA Way Forward.
Recent related News:
On 8 December 2023, the Department of Administrative Reforms and Public Grievances (DARPG) launched the
web portal (www.nceg.gov.in) for the National Awards for e-Governance (NAeG) 2024

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About Ministry of Personnel, Public Grievances and Pensions:
Union Minister– Narendra Modi (Constituency: Varanasi, Uttar Pradesh)
Minister of State– Dr. Jitendra Singh (Constituency: Udhampur, Jammu and Kashmir)

BANKING & FINANCE

Prabhaav: SIDBI unveils the CRISIL study on impact of Fund of Funds on Startup Ecosystem

On February 9, 2024, the Small Industries Development Bank of India (SIDBI) has unveiled the CRISIL’s impact
assessment report of the Fund of Funds for Startups (FFS) namely ‘Prabhaav‘.
Key People:
Sivasubramanian Ramann, Chairman & Managing Director (CMD), SIDBI, along with Satya Prakash Singh, Chief
General Manager (CGM), Venture Finance and Investment Vertical, SIDBI, presented the report
to Dr Vivek Joshi, Secretary, Department of Financial Services (DFS), Ministry of Finance; Rajesh Kumar
Singh, Secretary, DPIIT (Department for Promotion of Industry and Internal Trade), Ministry of Commerce &
Industry (MoCI), among others.
Note: CRISIL, formerly Credit Rating Information Services of India Limited, is a global analytical company that
provides ratings, research, and risk and policy advisory services.
Key Highlights:
i.As of November 30, 2023, 129 Alternative Investment Fund (AIF) were sanctioned out of FFS across various
segments.
ii.Investments of approximately 4 times the drawn amount, totaling Rs 17,534 crore, have been made in 938
startups, showcasing a significant multiplier effect of FFS.
iii.Despite its focus on early-stage funding, 18 startups supported by FFS have achieved unicorn status.
iv.FFS has directed investments into emerging sectors like deep tech, agriculture, health tech, financial services,
and sustainability.
v.Post-FFS launch, 129 startups outside Tier 1 cities received investments totaling Rs 1,590 crore.
 There is also increased support for women-led startups and fund managers.
vi.CRISIL survey finds 89% respondents crediting FFS support for facilitating their fundraise.
vii.Over 75% respondents note a positive effect on raising non-institutional domestic capital post commitment
by SIDBI under the scheme.
About FFS:
i.The Fund of Funds for Startups (FFS), launched in 2016, is a flagship program of the Startup India Action Plan.
ii.DPIIT is the monitoring agency and SIDBI is the operating agency for FFS.
iii.FFS was approved with a corpus of Rs 10000 crore with contributions spread over 14th & 15th Finance
Commission cycle.
iv.FFS provides capital to Securities and Exchange Board of India (SEBI)-registered AIFs, known as daughter
funds, which invest in growing Indian startups through equity and equity-linked instruments.

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Key Points:
i.AIFs supported under FFS must invest at least twice the FFS commitment in startups.
ii.FFS reduces reliance on foreign capital, promotes domestic funding, and boosts domestic Venture capital (VC)
funds.
iii.FFS contributes to category I & II AIFs, making India the 3rd largest startup ecosystem globally.
 Karnataka has the maximum number of startups supported under FFS i.e. 240 with Rs 4,687 crore
investments.
 It is followed by Maharashtra at 2nd (176 startups with Rs 3,426 crore invested), and Delhi at 3rd
(138 with Rs 2,254 crore invested).
Recent Related News:
i.India Post Payments Bank (IPPB) has signed an agreement with SIDBI to extend financial and other support
services to MSMEs (Micro, Small & Medium Enterprises) in rural and remote areas.
ii.Startup Odisha, an initiative of the Micro, Small & Medium Enterprises(MSME) Department of the Odisha
government, launched “Odisha Startup Growth Fund (OSGF)” worth Rs 100 Crore in collaboration with SIDBI.
About Small Industries Development Bank of India (SIDBI):
Chairman & Managing Director– Sivasubramanian Ramann
Headquarter– Lucknow, Uttar Pradesh
Establishment– 1990

DEA & ADB Signed USD 200 Million Loan for FRERM Project in Assam

The Department of Economic Affairs (DEA) of Ministry of Finance (MoF) and Asian Development
Bank (ADB) has signed a USD 200 million loan agreement (Ordinary Operations) for the ‘Climate Resilient
Brahmaputra Integrated Flood and Riverbank Erosion Risk Management(FRERM) Project in Assam’.
Signatories:
The loan agreement was signed by Juhi Mukherjee, Joint Secretary, DEA, MoF, for the Government of
India (GoI), and Hoe Yun Jeong, Deputy Country Director of ADB’s India Resident Mission, for ADB.
About FRERM project:
i.The project aims to strengthen flood and riverbank erosion risk management along the 650-kilometer (km)
long main stem of the Brahmaputra River in Assam.
ii.The Project activities will be led, managed, and coordinated by the Flood and River Erosion Management
Agency of the Assam (FREMAA).
iii.The Water Resources Department of the Government of Assam will implement the works and the Assam
Agroforestry Development Board will use nature-based solutions.
iv.This project will benefit around 1 million people and increase crop production in more than 50000 hectares.
About the Loan:
i.The Loan has a principal repayment period of 15 years.
ii.The interest of the loan will be the sum of Secured Overnight Financing Rate (SOFR) and 0.6% of Proceeds of
the loan withdrawn & 0.10% of expenditure to be financed out of proceeds of the loan.

14
  These interest will be paid semi-annually on 15th March and 15th September annually.
iii.The closing date of the loan shall be 31st March 2030 or such other date agreed by ADB and GoI.
iv.The loan will be provided from ADB’s ordinary capital resource.
v.The loan was approved by ADB in October 2023.
About Asian Development Bank (ADB):
President– Masatsugu Asakawa
Headquarters– Mandaluyong City, Metro Manila, Philippines
Established in– 1966
Members – 68 members (49 from the region)

India Extends UPI Service in Sri Lanka and Mauritius

Narendra Modi, Prime Minister (PM) of India, along with Mauritius PM Pravind Kumar Jugnauth and Sri Lankan
President Ranil Wickremesinghe, virtually launched India’s Unified Payments Interface (UPI) in Mauritius and
Sri Lanka.
 In addition to the UPI, the RuPay card service was also launched in Mauritius.
About UPI:
i.The Unified Payments Interface, an instant real-time payment system that was launched by the National
Payments Corporation of India (NPCI) in 2016 to facilitate inter-bank transactions through mobile phones.
ii.The list of countries that accept UPI payments are Bhutan, France, Mauritius, Singapore, Sri Lanka, and the
United Arab Emirates(UAE).
Key People:
The launch event was virtually attended by Shaktikanta Das, Governor of the Reserve Bank of India;
Harvesh Seegolam, Governor of the Bank of Mauritius; and Nandalal Weerasinghe, Governor of the Central
Bank of Sri Lanka.
Key Points:
i.The UPI and RuPay card projects were developed and executed by NPCI International Payments Limited
(NIPL) along with partner banks / non-banks from Mauritius and Sri Lanka, under the guidance and support of
the Reserve Bank of India.
ii.The Rupay co-branded card along with MauCAS (Mauritius Central Automated Switch) will be issued as a
domestic card.
iii.With the launch of UPI, Mauritius citizens will be able to make payments in India through the Mauritius
Instant Payment System (IPS) app.
About the launch of rupay cards in Mauritius:
i.Mauritius(African nation) becomes the first country outside Asia to issue cards using RuPay technology which
empowers the MauCAS card scheme of Mauritius to enable the banks to issue RuPay cards domestically.
ii.The launch will help both India and Mauritius by the following:

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  The rupay cards issued in Mauritius and India can be used at ATMs (Automated Teller Machines) and
point of sale (PoS) terminals.
iii.As of February 2024, a total of five countries issue rupay cards namely Bhutan, Nepal, Mauritius, Singapore,
and UAE.
About National Payments Corporation of India (NPCI):
Managing Director (MD) & chief executive officer (CEO)– Dilip Asbe
Headquarters– Mumbai, Maharashtra
Incorporated in 2008

RBI raises wage ceiling for NEDs of banks to Rs 30 lakh; Permits Indian Banks in GIFT-IFSC for
Bullion Exchange Trading and SCC Status

On February 9, 2024, the Reserve Bank of India (RBI), in exercise of powers conferred by Section 35B of the
Banking Regulation (BR) Act, 1949, has increased the remuneration ceiling of Non Executive Directors (NEDs)
of banks from Rs 20 lakh per annum to Rs 30 lakh with immediate effect.
 This decision has been taken after considering the crucial role of NEDs in efficient functioning of bank
Boards and its various Committees, and also to attract better talent and ensure corporate governance.
Key Points:
i.Following this, banks must establish fixed remuneration criteria for NEDs with Board approval.
 The Board may set a lower amount, not exceeding Rs 30 lakh per annum, based on bank size, NED
experience, and other factors.
ii.Private sector banks still need regulatory approval for Part-time Chairman remuneration under Section
10B(1A)(i) and 35B of the BR Act, 1949.
iii.Banks must disclose director remuneration annually in their Annual Financial Statements (AFS).
iv.These will be applicable to all the Private Sector Banks including Small Finance Banks (SFBs) and Payment
Banks (PBs) as also the wholly owned subsidiaries of Foreign Banks.
RBI Permits Indian Banks in GIFT-IFSC for Bullion Exchange Trading and SCC Status
RBI has permitted the branches of Indian banks in GIFT–IFSC (Gujarat International Finance Tec-
City International Financial Services Centre) to act as a Trading Member/Trading and Clearing Member
(TM/TCM) of India International Bullion Exchange IFSC Ltd (IIBX).
 It also allowed the Indian banks authorized to import gold or silver to act as Special Category
Client (SCC) of IIBX .
 The provisions for the same are effective from February 9, 2024.
Key Points:
i.TM/TCM of IIBX must execute trades solely on behalf of clients, without proprietary trading.
ii.SCCs are mandated to execute buy trades for clients and appoint one of the IFSC Banking Units (IBUs) to act
as clearing member on their behalf.

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iii.Parent banks must obtain a No Objection Certificate from
RBI before their branch/subsidiary/joint venture in GIFT
IFSC can operate as a TM/TCM on International Bullion
Exchange IFSC.
iv.Banks intending to operate as TM or TCM must submit a
business plan to RBI’s Department of Regulation with board
approval.
v.Banks authorized to import gold/silver can engage in SCC
activities after notifying RBI’s Department of Regulation.
vi.Client trades on the exchange require 110% advance pay-
in of funds or securities matching the intended transaction
value.
Click Here for Official Notification
RBI cancels license of Jai
Prakash Narayan Nagari Sahakari Bank based
in Basmathnagar, Maharashtra
On February 5, 2024, RBI, has cancelled the licence of Jai Prakash Narayan Nagari Sahakari Bank Ltd.,
Basmathnagar, Maharashtra. With effect from February 6, 2024, The bank ceases to carry on banking business
as defined in Section 5(b) read with Section 56 of BR Act, 1949.
Reason:
This decision has been taken because of the following reasons:
i.The bank lacks sufficient capital and earning potential, violating BR Act Sections 11(1) and 22(3)(d) with
Section 56.
ii.It failed to meet requirements outlined in Sections 22(3)(a), 22(3)(b), 22(3)(c), 22(3)(d), and 22(3)(e) with
Section 56.
Key Points:
i.On liquidation, every depositor shall receive deposit insurance claim amount of his/her deposits up to a
monetary ceiling of Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the
provisions of DICGC Act, 1961.
ii.About 99.78% of the depositors of the bank are entitled to receive full amount of their deposits from Deposit
Insurance and Credit Guarantee Corporation (DICGC).
iii.As of September 21, 2023, DICGC has paid Rs 23.89 crore to depositors under the DICGC Act, 1961.
Recent Related News:
i.On September 25, 2023, RBI has cancelled the licence of the Kapol Co-operative Bank Limited, Mumbai,
Maharashtra amid inadequate capital and earning prospects. Following, it is immediately prohibited from
conducting banking activities, including accepting and repaying deposits, as defined in Section 5 (b) read with
Section 56 of the BR Act, 1949 with immediate effect.
ii.RBI also imposed a penalty of Rs 8.80 Lakh on Fedbank Financial Services Limited, a Non-Banking Financial
Company (NBFC) in Mumbai, for non-compliance with certain provisions of the Monitoring of Frauds in NBFCs
(Reserve Bank) Directions, 2016.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra

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 ACQUISITIONS & MERGERS
LIC Increases Its Stake in SBI Cards to 5.02%
Life Insurance Corporation of India (LIC) has increased its paid-up share in SBI Cards & Payments Services
Limited to 5.02% from 4.99%.
 For this purpose, LIC has made Open Market Purchases of about 3,01,084 shares of SBI Cards with an
average cost of Rs.716 per share.
 The total shares of LIC have increased to 47,711,794 from 47,410,710.
About SBI Cards & Payments Services Limited:
SBI Cards & Payments Services Limited is a Joint Venture(JV) between the State Bank of India (SBI) and Carlyle
Group.
Managing Director (MD) & Chief Executive Officer (CEO) – Abhijit Chakravorty
Headquarters – Gurugram, Haryana
Established in – 1998

SCIENCE & TECHNOLOGY

Mahindra Defence & Embraer Defense Collaborated for IAF’s MTA Project
Mahindra Defence Systems Limited and Brazil-based Embraer Defense & Security have signed a Memorandum
of Understanding (MoU) for the Medium Transport Aircraft (MTA) procurement project of the Indian Air
Force (IAF) in New Delhi, Delhi.
 As per the MoU, both firms will be jointly developing C-390 Millennium multi-mission aircraft which
will be procured by IAF.
 The C-390 Millennium is the most advanced military airlifter in the market which can carry a payload of
about 26 tonnes
 It flies at a speed of about 870 km/h (470 knots).
 C-390 Millennium finds its application in areas such as transporting and dropping cargo and troops,
medical evacuation, search and rescue, aerial firefighting, and humanitarian missions.
 In August 2023, Embraer held a C-390 Millennium Day in New Delhi, India to deepen engagement
with the local aerospace industry.
Note: Mahindra Defence Systems Limited is completely owned by Mahindra & Mahindra Limited.

ENVIRONMENT
Trichoglossum Syamviswanathii: New Fungus Species Discovered in Kerala
Researchers from the Kerala Forest Research Institute (KFRI), Botanical Survey of India, and the University of
Hyderabad have discovered a new fungus species, Trichoglossum Syamviswanathii in the moist soil of
Bambusetum in Thrissur (Kerala) along the Western Ghats.
 The species belongs to the family Geoglossaceae (Ascomycota) and genus Trichoglossum.
 It is named after Syam Viswanath, renowned scientist and former director of KFRI.
 Trichoglossum is also known as “hairy earth tongues” fungus and plays a major role in the
decomposition of organic matter.
 The discovery was published in the journal Persoonia: Molecular Phylogeny and Evolution of
Fungi which was published by the National Herbarium of the Netherlands.

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 SPORTS
Australia Wins U19 Men’s Cricket World Cup by Defeating India at Finals
The Australian Under-19 (U19) cricket team won the International Cricket Council (ICC) U19 Men’s Cricket
World Cup (CWC) 2024 title defeating India in the finals held in Willowmoore Park stadium in Benoni, South
Africa.
 The 15th edition of U19 Men’s CWC held from 19th January to 11th February 2024 was hosted
by South Africa.
Highlights of U19-CWC 2024:
i.This marks Australia’s fourth ICC U19 Men’s World Cup title. Australia previously won the title in 1988, 2002,
and 2010.
ii.The Indian U-19 team was captained by Uday Saharan, and the Australian team was captained by Hugh
Weibgen.
iii.This also marks India’s fifth consecutive final appearance in the U19 Men’s CWC, including in 2016, 2018,
2020, 2022, and 2024.

Awards:
i.Player of the Tournament – Kwena Maphaka(South Africa).
ii.Player of the Match(Final): Mahli Beardman(Australia).
iii.Leading run-scorer of the tournament – Uday Saharan (India) – 397 runs.
iv.Leading wicket-taker of the tournament – Kwena Maphaka (South Africa) – 21 wickets.
v.Highest score of the tournament – Snehith Reddy (New Zealand) – 147 runs against Nepal.
vi.Best bowling figures of the tournament – Taz Ali (England) – took 7 wickets & conceded 29 runs against
Zimbabwe.
About U19 Cricket World Cup:
i.The first edition of the U19 Cricket World Cup event was held in 1988 as the Youth Cricket World Cup in
Australia.
ii.TheICC U19 World Cup tournament has been conducted once every two years since its second edition in
1998.
iii.India has been the most successful team in the event, with five titles(2000, 2008, 2012, 2018, and 2022).

MoE & FIFA collaborates to Promote Football in Indian Schools

The Ministry of Education (MoE) has partnered with Fédération Internationale de Football Affiliation (FIFA) to
promote football in schools across India by integrating football-related activities into the education system.
 The partnership aims to distribute 11 lakh footballs across India in a phased manner.
 Union Minister of Education, Dharmendra Pradhan has distributed 6,848 footballs to schools in
Odisha as part of the Footballs for Schools (F4S) programme.

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  F4S is an ambitious programme run by FIFA, in collaboration with United Nations Educational,
Scientific and Cultural Organization (UNESCO).
 The program is supported by the All India Football Federation (AIFF) and implemented by the Sports
Authority of India (SAI).

IMPORTANT DAYS
International Day of Women and Girls in Science 2024- February 11
The United Nations (UN)’s International Day of Women and Girls in Science (IDWGIS) is annually observed
across the globe on 11 February to promote full and equal access to and participation of women and girls in
the fields of Science, Technology, Engineering, and Mathematics (STEM).
 The day also recognises the significance of gender equality and the empowerment of women and girls in
the scientific community.
11 February 2024 marks the observance of the 9th International Day of Women and Girls in Science.
 The theme of IDWGIS 2024 is “Women and Girls in Science Leadership: A New Era for
Sustainability”
 The subtheme of IDWGIS 2024 is “Think Science … Think Peace”.
Note: The Day is implemented by the United Nations Educational, Scientific and Cultural Organization
(UNESCO), and UN-Women, in collaboration with institutions and civil society partners that aim to promote
women and girls in science.

Background:
i.On 22 December 2015, the United Nations General Assembly (UNGA) adopted the resolution A/RES/70/212
and proclaimed the 11 February of each year as the International Day of Women and Girls in Science.
ii.The 1st ever IDWGIS was observed on 11 February 2016.
UN’s Commitment to Gender Equality:
i.The UN prioritises gender equality, recognizing its pivotal role in achieving all the goals and targets of the
2030 Agenda for Sustainable Development.
ii.On 14th March 2011, the 55th session of the Commission on the Status of Women (CSW) adopted a report
with conclusions focusing on women’s access to education, training, and participation in science and
technology.
 CSW is the principal global intergovernmental body exclusively dedicated to the promotion of gender
equality and the empowerment of women.
iii.On 20th December 2013, UNGA adopted a resolution underlining the imperative of women’s equal access to
science, technology, and innovation for overall gender equality and empowerment.
2024 Events:
i.On 9th Febrauary 2024, UNESCO in collaboration with L’Association fédérative nationale des
étudiant.e.s universitaires scientifiques (AFNEUS) organised an event in Paris, France to mark the IDWGIS
2024.

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  The event also unveiled the UNESCO Call to Action “Closing the gender gap in science”.
ii.The 9th IDWGIS Assembly took place on 8-9 February 2024 in New York, the United States of America (USA).
 It was co-organised by the Royal Academy of Science International Trust (RASIT), and the Permanent
Missions of Costa Rica, Lebanon, Malta, Philippines, Poland, Portugal, Rwanda, and Spain, to the UN.
iii.The 9th Assembly discussed women’s leadership in achieving the 3 pillars of Sustainable Development,
namely economic prosperity, social justice, and environmental integrity.
iv.The 9th Assembly also featured, for the first time, a STEM EXPO for Girls and female youth on the 8th of
February 2024.
Key Facts:
i.Currently, women remain significantly underrepresented, making up only 29.2% of all STEM workers,
compared to 49.3% across non-STEM occupations.
ii.Only 35% of all students in STEM-related fields of study are women.
iii.The UNESCO Science Report highlights a gender gap in science revealing that women constitute just one-
third of scientists and 37% of ocean science professionals.
 The global average of female researchers in the scientific community is only 33%.
About United Nations Educational, Scientific and Cultural Organization (UNESCO):
Director-General– Audrey Azoulay
Headquarters– Paris, France
Establishment– 1945 (came into force in 1946)

World Unani Day 2024- February 11

World Unani Day is annually observed across the globe on 11 February to commemorate the birth
anniversary of social reformer and renowned Unani scholar Mohammad Ajmal Khan better known
as Hakim Ajmal Khan, widely regarded as the pioneer of Unani medicine in India.
 The Day focuses on promoting the Unani system of medicine into the mainstream and focuses on the
strengths of Unani and its unique treatment principles.
The theme of Unani Day 2024 is “Unani Medicine for One Earth, One Health”.
Objective: The Day also aims to pay tribute to the legendary Hakim Ajmal Khan for his wonderful contribution
to the sustained development of the Unani system of medicine in India and across the globe.
Background:
i.To recognise the contributions of Hakim Ajmal Khan towards development of Unani medicine, the Ministry of
Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy (AYUSH), the Government of India,
declared his birth anniversary (11 February of every year) as World Unani Day.
ii.The 1st ever World Unani Day was observed on 11 February 2017 at the Central Research Institute of
Unani Medicine (CRIUM) in Hyderabad, Telangana.
 CRIUM, Hyderabad has been upgraded to the National Research Institute of Unani Medicine in Skin
Disorders (NRIUMSD) in 2019.
About Hakim Ajmal Khan:

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i.He was born on 11th February 1868 in Delhi (British India). He was a physician and scholar of Unani
medicine.
ii.He was one of the founders of the Jamia Millia Islamia (JMI), public research-intensive central university in
Delhi.
 He was the first Chancellor of JMI, from 1920 till his death(1927).
iii.He established the Hindustani Dawakhana in Delhi in 1905 to manufacture Unani and Ayurvedic medicines.
iv.He also established the Ayurvedic and Unani Tibbi Conference in 1910 to unite all Vedas and Hakims against
British rule and their efforts to ban all indigenous Systems of Medicine.
About Unani:
i.Unani-tibb or Unani Medicine is a form of traditional medicine practiced in middle-east & south-Asian
countries.
ii.It refers to a tradition of Graeco-Arabic medicine, which is based on the teachings of Greek physician
Hippocrates and Roman physician Galen.
iii.Unani medicine first arrived in India around the 12th or 13th century, coinciding with the establishment of
the Delhi Sultanate (1206–1527) and the subsequent Islamic rule over North India.
 The Unani System of Medicine is included in the Indian Medicine Central Council (IMCC) as per the
IMCC, Act 1970.
National Conference on Unani Medicine 2024:
i.The inauguration of Unani Day 2024 and the National Conference on Unani Medicine for One Earth, One
Health was organized by CCRUM at Pusa, New Delhi (Delhi).
ii.Key People who attended the event include:
 Vaidya Rajesh Kotecha (Chief Guest), Secretary, Ministry of AYUSH; Vaidya Jayant Deopujari, Chairman,
National Commission for Indian System of Medicine, New Delhi; Dr. N. Zaheer Ahmed, Director General,
CCRUM, etc.
Releases, Achievements & Exchanges:
i.The event witnessed the release of various publications, e-books, a Mobile App on Unani compound drugs, and
a documentary – all developed by the CCRUM.
iiNational Accreditation Board for Hospitals & Healthcare Providers (NABH) and National Accreditation Board
for Testing and Calibration Laboratories (NABL) certificates were awarded to 4 CCRUM institutes.
 Appreciation certificates were also awarded to CCRUM scientists for Best Research Papers.
iv.A Memorandum of Understanding (MoU) was exchanged between CCRUM and the Centre for Cellular and
Molecular Biology, Hyderabad.
2024 Events:
To mark World Unani Day on 11 February 2024,
i.Hamdard Laboratories (Waqf) Bangladesh organised a seminar at the Hamdard University, in Dhaka,
Bangladesh. High Commissioner of India to Bangladesh Pranay Verma attended the event as a special guest.
ii.Directorate of Indian System of Medicine (AYUSH), Jammu and Kashmir (J&K) organised a seminar at Sher-e-
Kashmir International Convention (SKICC) in Srinagar, J&K.

About Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH):
Union Minister– Sarbananda Sonowal (Rajya Sabha Assam)
Minister of State– Dr. Munjpara Mahendrabhai Kalubhai (Constituency: Surendranagar, Gujarat)

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 STATE NEWS
Delhi LG VK Saxena approves DDA budget of Rs 8,811 cr for FY25

The Lieutenant Governor of Delhi, and the Chairperson of Delhi Development Authority (DDA), Vinai Kumar
Saxena, approved the annual budget of DDA, Ministry of Housing and Urban Affairs (MoHUA) for Financial Year
2024-25 (FY25) with an outlay of Rs 8, 811 crore.
 Revenue targets for FY25 are set at Rs 9,182 crores, reflecting a significant 19% increase from FY24.
Budget Allocations:
DDA plans various projects in FY25, emphasizing improved housing, landscape beautification, and heritage
preservation. The estimated expenditure for these initiatives in FY25, totaling Rs 9,182 crore, will be funded
from projected revenues.
Infrastructure:
i.A budget allocation of Rs 3,460 crore has been made for land and infrastructure development, covering
roads, sewerage, water supply, power lines, drainage, beautification, and streetscaping in Narela, Dwarka,
Rohini, and other areas.
ii.There will be implementation of Dilli Gramodaya Abhiyan for urbanized village development, with Rs 600
crore allotted for infrastructure creation in BE 2024-25 and Rs 300 crore in RE 2023-24.
 Dilli Gramodaya Abhiyan was launched on December 2, 2023 for developing Delhi’s urbanised villages.
Sports:
i.There will be investment in construction of sports complexes to promote Healthy and Fit Delhi.
ii.A new sports complex is proposed in Narela.
iii.Budget allocation of Rs 266 crore in BE (Budgeted Estimates) FY25 and Rs 196 crore in RE (Revised
Estimates) FY24 is made for these facilities.
Housing:
Rs 1,953 crore is allocated for ongoing housing projects in Delhi, targeting the provision of permanent housing
for slum dwellers through redevelopment and rehabilitation
Key Points:
i.DDA’s General Development Account (GDA) anticipates a surplus of Rs 262 crore, attributed to the successful
‘Diwali Special Housing Scheme’.
 This surplus marks the first in a decade for DDA’s GDA.
ii.Through this budget, emphasis are laid on on creating public spaces to enhance connectivity with the Yamuna
riverfront, parks, and heritage sites.
iii.There will be rejuvenation and restoration of Yamuna floodplains, construction of Bharat Vandana Park in
Dwarka, and development of biodiversity parks.

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Recent Related News:
i.Prime Minister (PM), Narendra Modi inaugurated the 17 Kilometer (Km) priority section of the Delhi-
Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Corridor at Sahibabad RapidX Station in
Ghaziabad, Uttar Pradesh (UP).
ii.The All India Institute of Ayurveda (AIIA) celebrated its 6th Foundation day on 20th October 2023 at AIIA
campus, New Delhi, Delhi. A new molecular biology lab for advance research at AIIA; a Manuscript Unit and
Center of Excellence (CoE) Dakshya were launched during the event.
About Delhi Development Authority (DDA):
Chairperson– Vinai Kumar Saxena
Establishment– 1957
Headquarter– New Delhi, Delhi

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