Tamil Nadu to set up an exclusive park for Electric Vehicles

 Tamil Nadu to set up an exclusive park for Electric Vehicles

The Tamil Nadu government has announced that it will set up a park exclusively for the electric vehicle production eco-system in the country. It is going to the first-ever such park in the country. The state has the aim of around Rs 50000 crores investment in the Electric Vehicle domain.

What is the Current Status of TN regarding EVs?

Tamil Nadu government unveiled its EV policy in 2019 which gives incentives and subsidies for both the supply side and the demand side. It covers the EV Ecosystem with incentives to EV charging stations developers and to tap components including battery and cell manufacturing electric motors, battery management EV powertrains, etc.

Automobile Sector in Tamil Nadu

TN is considered as one of the hubs of automobile production in the country since the state has got installed capacity to produce 1.71 million passenger vehicles and 4.82 million two-wheelers every year. The state has also signed MoUs worth Rs 3500 crores for the auto sector during the pandemic situation. On average, 35% of the auto component production and 30% of four-wheeler production is from TN. The state also houses nearly 20 Original Equipment Manufacturers (OEMs) covering all auto-segments and over 350 auto component players and 4000 SMEs under Tier IV in the state.

Central Government Initiatives in this segment

The government of India has the target of electric vehicles making up to 30% of new sales of cars and two-wheelers by 2030 from less than 1% today. The government has started the policies such as – National Electric Mobility Mission Plan (NEMMP) and Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME –India).

The first scheme, launched in 2013, is meant to achieve national fuel security by promoting hybrid and electric vehicles in the country. The target is to attain 6-7 million sales of such vehicles from 2020 onwards.

The second scheme was launched in 2015 with a focus on four main areas – Technology Development, Demand Creation, Pilot Projects and Charging Infrastructure.

Topics: Electric Vehicles , Evs , FAME India , Hybrid Vehicles , Tamil Nadu Government

RBI Consumer confidence Survey: Highlights

 RBI Consumer confidence Survey: Highlights

According to the Consumer Confidence Survey carried out by the Reserve Bank of India, it has been observed that the consumer confidence has seen the lowest-ever level in July with the citizens becoming more pessimistic regarding their jobs, the income and spending and the overall situation of the economy.

What does Survey Say?

The consumer sentiment has been in the decline since March and a further collapse in July to reach 53.8, which is well below the 100- mark that demarcates the pessimism and optimism in the economy.

It has been reported that the employment scenario has degraded in the country along with income. Discretionary spending has also reduced in the economy.

The inflation expectations of households in the country are rising constantly making it difficult for the central bank to cut the policy rates in its bi-monthly monetary policy review.

It has also been observed that the consumers are becoming a bit optimistic regarding the coming year.

This survey collects data from 13 Indian cities and covers more than 5000 households in the country.

What is Consumer Confidence Survey?

It is conducted every two months in order to find out how optimistic or pessimistic the consumers are regarding their financial situation. This index measures the change in consumer perception on the financial situation in the last year and the future expectations. The main parameters are – Economic situation, Employment, Price Level, Income and Spending. This is carried out by the Reserve Bank of India.

Topics: CCS , Consumer Confidence Survey , RBI , Reserve Bank Of India

US bans transactions with TikTok and WeChat

 US bans transactions with TikTok and WeChat

The US President has issued a couple of executive orders that would ban any US transactions with the Chinese companies that own TikTok and WeChat as the country is interested in aggravating the measures in the interest of national security.

What will the ban imply?

This order prohibits any kind of transaction by any person or with respect to any property, subject to the jurisdiction of the United States, with the companies TikTok and WeChat. This will take effect in the next 45 days.

Why is this ban imposed?

The video-sharing app has been under question due to national security concerns. It has been alleged that the company is involved in stealing data from the users and that data is shared with the Chinese Authorities. This also involves the apprehension that during the war, the Chinese company will have to share information with the government, as per a law passed by the Chinese government. For WeChat, the issue lies in the fact that it connects the US and China.

US-China Issue

These two countries have been arguing with each other regarding trade issues. They had imposed taxes on imports from each other’s countries. Then the US has blocked some companies of China from doing business in that country and China has also retaliated through counter-bans on various US companies. The US has also made its allies ban Chinese companies from their countries such as the ban on Huawei by the UK.

Topics:C hina , TikTok , US Government , US-China , WeChat

‘Conclave on Transformational Reforms in Higher Education under National Education Policy’: Highlights

‘Conclave on Transformational Reforms in Higher Education under National Education Policy’: Highlights

The Prime Minister Narendra Modi gave the inaugural address at the Conclave of Transformational Reforms in Higher Education under National Educational Policy. This conclave has been organized by the Ministry of Education along with the University Grants Commission. The conclave has been organized through video-conferencing by the Prime Minister.

The objective of the Conclave

The main objective of the conclave is to throw light on various aspects of the new education policy so that all can contribute to the implementation of the New Educational Policy. The National Education Policy 2020 has been designed in order to keep the next and current generations future-ready.

National Education Policy 2020

The salient features of the NEP are:

The current system of 10+2 has been changed to 5+3+3+4 curricular structure corresponding to the ages 3-8, 8-11, 11-14 and 14-18 years respectively.

The policy aims at 100% Gross Enrolment Ratio by the year 2030 in school education.

Teachers will also be recruited as per the new guidelines and in this regard, a new and comprehensive National Curriculum Framework for Teacher Education 2021 will also be formulated.

Teaching up to Grade 5 will be in the mother tongue and regional language.

Multidisciplinary courses will be encouraged in the country.

Continuous evaluation will be encouraged.

National Assessment Centre – PARAKH has been created in order to assess the students from the primary level.

The public investments in the education sector will be increased to 6% of the GDP at the earliest.

Previous National Education Policy 1986

The last National Education Policy 1986 was introduced by the Rajiv Gandhi and it called for a ‘child-centred approach’. This policy started the ‘Operation Blackboard’ in the country to improve primary education nationwide. It also improved the online education system in the country by establishing the Indira Gandhi National Open University.

Topics: National Education Policy , National Education Policy 2020 , NEP 1986 , NEP 2020