22-02-2024

22-02-2024

Table of Contents
L-G to Kejriwal On financial devolution among
(Indian Express) 1 States (The Hindu) 4

79%revised FAME II target Illegal lending apps on FSDC

achieved (Business Standards) 2 radar (The Hindu) 5

Centre increases FRP of

PFRDA notifies amendments to
NPS trust (Indian Express) 3 sugarcane; will be in force 6
from Oct. 1 (The Hindu)

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The Indian Express:

Pg: 5 – Delhi edition

Qualifications for Becoming an L-G:

• Must be an Indian citizen.

Role of Lieutenant Governor
• Must be at least 35 years old.
• L-G acts as the President's representative in
Union Territories (U.T.). • Cannot be a member of Parliament or any
state legislature.
• Exists only in three U.T.s: Andaman and
Nicobar Islands, Delhi, and Puducherry. • Cannot hold any other office of profit.

Appointment and Tenure:

• Appointed by the President of India.

• Tenure is generally for 5 years but can be

terminated by the President at any time.

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Powers and Responsibilities:

• Acts on the advice of the U.T.'s council of

ministers for most administrative decisions.

• Has special powers in certain areas like Differences between L-G of Delhi and Puducherry:
police, public order, and land, especially noted
• L-G of Delhi operates under the Government
in Delhi.
of National Capital Territory of Delhi Act,
• Possesses discretionary powers in situations 1991, and related rules, focusing on areas
such as election result ambiguities or during excluding law and order, and land.
President's rule.
• L-G of Puducherry functions primarily under
Discretionary Powers: the Government of Union Territories Act,
1963.
• Can decide on government formation when no
clear majority is present post-election.

• Can appoint advisors during President's rule to

help run the government.

Practice Question - Prelims

Q. Consider the following statements regarding
Lieutenant Governor:
1. The L-G is appointed by the President of
India and can be removed by the President
at any time.
2. Only the Union Territories of Andaman and
Nicobar Islands, Delhi, and Puducherry
have the position of Lieutenant Governor
3. The L-G has the authority to make
decisions in matters related to police,
public order, and land in all Union
Territories.
How many of the above statements are
incorrect?
(a) One
(b) Two
(c) All the above
(d) None

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Business Standards:

Pg: 3 – Mumbai edition

FAME II Scheme

• Launched by the Department of Heavy

Industries under the Ministry of Heavy
Industries and Public Enterprises.

• Aims to promote the adoption of electric and

hybrid vehicles in India.

• Phase II of the scheme emphasizes the

electrification of public transportation and
supports a wide array of electric vehicles
through subsidies.

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Targets and Achievements: Specific Features of Phase II:

• The scheme targets all vehicle segments • Supports approximately 7,000 e-Buses, 5 lakh
including two-wheelers, three-wheelers, four- e-3 Wheelers, 55,000 e-4 Wheeler Passenger
wheelers, and buses. Cars, and 10 lakh e-2 Wheelers through

• Focuses on various technologies such as mild subsidies.

hybrid, strong hybrid, plug-in hybrid, and • Plans to establish about 2,700 charging
battery electric vehicles (BEVs). stations across metros, million-plus cities,

• Has achieved 79% of its revised target for smart cities, and cities in hilly states.

the number of electric vehicles under FAME

II.

Incentive and Infrastructure Development:

Related Initiatives:
• Incentives in the 3-Wheeler and 4-
• PLI Scheme for Advanced Chemistry Cell
Wheeler segments are primarily for
(ACC)
vehicles used for public transport or
those registered for commercial purposes. • National Programme on Advanced Chemistry
Cell Battery Storage (NPACC) under the
• The 2-Wheeler segment incentives focus on
Ministry of Heavy Industries & Public
private vehicles.
Enterprises
• Establishment of charging stations along
 Aim to create a significant
major highways, facilitating long-distance
manufacturing capacity for battery
travel by electric vehicles.
storage.

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Practice Question - Prelims

Q. Consider the following statements regarding
FAME II:
1. FAME II is exclusively focused on promoting
the adoption of battery electric vehicles
(BEVs) in the private four-wheeler segment.
2. The scheme is implemented by the
Department of Heavy Industries under the
Ministry of Heavy Industries and Public
Enterprises.
Which of the above statements is/ are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2

PFRDA

• Statutory body established by Parliament.

• Functions under the Ministry of Finance,

Department of Financial Services.

• Responsible for regulating and promoting

pension funds in India.

The Indian Express:

Pg: 13 – Delhi edition

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Key Responsibilities of PFRDA:

• Regulates pension funds, ensuring fair and

transparent operations. Objective

• Promotes the National Pension System (NPS) • To ensure orderly and healthy growth of

and Atal Pension Yojana (APY) for broader the pension sector, making it sustainable

participation. and beneficial for participants.

• Appoints key agencies:

 Pension Fund Managers: to make investment

decisions.

 Central Record Keeping Agency (CRA): to

maintain detailed records of contributions,
investments, and returns.

Practice Question – Prelims

Q. Consider the following statements regarding
Pension Fund Regulatory and Development
Authority (PFRDA)
1. PFRDA is a non-statutory body
established under the Department of
Financial Services, Ministry of Finance.
2. PFRDA's responsibilities include the
appointment of Pension Fund Managers
and the Central Record Keeping Agency
(CRA)
Which of the statements given above is/are
correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) None

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The Hindu:
T&C – C, B, D, H, T

Part A—Preliminary Examination

Paper I - (200 marks)
 Indian Polity and Governance – Constitution,
Political System, Panchayati Raj, Public Policy,
Rights Issues, etc.
Practice Question – Mains
Part B—Main Examination
GS - II
PAPER-II
Q. Panchayati Raj system in India requires
General Studies‐ II: Governance, Constitution, second-generation reforms to secure
Polity, Social Justice and International relations. grassroots development through
• Bilateral, Functions and responsibilities of the democratic grassroots governance.
Union and the States, issues and challenges Comment.
pertaining to the federal structure, devolution of (150 words, 10 marks)
powers and finances up to local levels and
challenges therein.

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Introduction Body

• Democratic governance was introduced in India Systemic failures in panchayath raj system
by 73rd and 74th Constitution Amendments.
• No perceptible hand-holding and support by
• Initiated a process with standardised features. the States

 Elections every five years; • Dependency on state machinery for their

 Reservations for historically marginalised functioning

communities and women; • postponing elections or the failure to

 Creation of participatory institutions; constitute SFCs and DPCs.

 Establishment of State Finance Commissions Fiscal weakness of village panchayats

(SFCs), • Low local government expenditure which is at

 Creation of District Planning Committees only around 7% as compared to 24% in Europe.

(DPCs); and so on. • Own source revenue is only around 2%.

Second generational reforms

• Gram Panchayats -responsible for asset creation,

operation, and maintenance.

• Involving it in the planning process. Conclusion

• Money for poverty alleviation should be directly • Panchayati Raj system has played a
sent to gram panchayat accounts. significant role in decentralizing power

• Financial incentives to states, for encouraging and promoting local democracy in India.

effective devolution of fund, function and • Second-generation reforms are imperative

functionaries at grassroot level to address existing shortcomings and

• Participation in the gram and ward Sabha in secure grassroots development through

planning intermediate and district level. democratic grassroots governance.

• Social audit should also be made a mandatory

feature.

• Empowerment of panchayat members.

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The Hindu:
Pg: 17 – Chennai;

Members

• Finance minister - Chairman of the FSDC.

FSDC • Heads of the Financial Sector Regulators listed :
• Autonomous body by an Executive  Reserve Bank of India (RBI)
Order
 Insurance Regulatory and Development Authority
• Non-statutory apex body under the (IRDA)
Ministry of Finance.
 Securities and Exchange Board of India (SEBI)
• Created on the recommendation of
 Pension Fund Regulatory and Development
Raghuram Rajan Committee (2008) on
Authority (PFRDA)
financial sector reforms.
• Finance Secretary

• Chief Economic Advisor

• Secretary of the Department of Financial Services

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Functions

• Macroprudential and financial regularities

• Minister of State responsible for the
in the entire financial sector of India.
Department of Economic Affairs (DEA)
• Envisages to strengthen and institutionalize
• Secretary of the Department of Electronics
the mechanism of maintaining financial
and Information Technology
stability,
• Revenue Secretary
 Financial sector development
• Chairman of the Insolvency and Bankruptcy
 Inter-regulatory coordination
Board of India (IBBI).
 Monitoring macro-prudential regulation of
the economy.

Responsibilities

• Bringing about stability in the financial sector Practice Question – Prelims

Q. Consider the following statements:
• Development of the Financial Sector
1. Prime Minister of India is the
• Coordination of Inter-Regulatory bodies Chairman of Financial Stability and
• Promoting financial literacy
Development Council (FSDC).
2. FSDC is a statutory body functioning
• Ensuring financial inclusion
under the Ministry of Finance.
• Macroprudential supervision of the economy including Which of the statements given above
the functioning of large financial conglomerates. is/are correct?
(a) 1 only
• Coordinating India’s international interface with
(b) 2 only
financial sector bodies - Financial Action Task (c) Both 1 and 2
Force (FATF), Financial Stability Board (FSB). (d) Neither 1 nor 2

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The Hindu:
Pg: 10 – Chennai;

Fair and Remunerative Price (FRP)

What is FRP

• The price declared by the government,

which mills are legally bound to pay to
farmers.

• Governed by The Sugarcane Control order,

1966.

• Mandates payment within 14 days of the

date of delivery

• Option of signing an agreement with

farmers, to allow them pay the FRP in
instalments

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How FRP are fixed: • The price level of FRP have shown a
gradual increase over a period of time
• FRP is based on the Rangarajan
Committee report

• FRP is based on the recovery of sugar

from the cane.

• The Central Government announces FRP

on the recommendation of the
Commission for Agricultural Costs and
Prices (CACP) .

• Addition to Fair and Remunerative

Price, State Advised Prices (SAP) are
announced.

Significance of implementing Fair and

Remunerative Price:

• Thousands of farm labors are associated

Challenges in FRP
with the cane growers
• Inconsistent government pricing policies
• FRP provides economic benefits to
• Delayed payments by sugar mills
growers.
• Conflicts with World Trade Organization
• Fixation of FRP of sugarcane facilitates
(WTO) rules
a production and availability and supply
of cane to sugar factories

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PRACTICE QUESTIONS
DISCUSSION

Practice Question - Prelims

Q. Consider the following statements regarding
Lieutenant Governor:
1. The L-G is appointed by the President of
India and can be removed by the President
at any time.
2. Only the Union Territories of Andaman and
Nicobar Islands, Delhi, and Puducherry
have the position of Lieutenant Governor
3. The L-G has the authority to make
decisions in matters related to police,
public order, and land in all Union
Territories.
How many of the above statements are
incorrect?
(a) One
(b) Two
(c) All the above
(d) None

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 22-02-2024

Practice Question - Prelims

Q. Consider the following statements regarding
FAME II:
1. FAME II is exclusively focused on promoting
the adoption of battery electric vehicles
(BEVs) in the private four-wheeler segment.
2. The scheme is implemented by the
Department of Heavy Industries under the
Ministry of Heavy Industries and Public
Enterprises.
Which of the above statements is/ are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2

Practice Question – Prelims

Q. Consider the following statements regarding
Pension Fund Regulatory and Development
Authority (PFRDA)
1. PFRDA is a non-statutory body
established under the Department of
Financial Services, Ministry of Finance.
2. PFRDA's responsibilities include the
appointment of Pension Fund Managers
and the Central Record Keeping Agency
(CRA)
Which of the statements given above is/are
correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) None

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 22-02-2024

Practice Question – Prelims

Q. Consider the following statements:
1. Prime Minister of India is the Chairman of
Financial Stability and Development Council
(FSDC).
2. FSDC is a statutory body functioning under the
Ministry of Finance.
Which of the statements given above is/are
correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

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