Solution: d)

Ministry of Power, GoI launched Ujwal DISCOM Assurance Yojana (UDAY) which was approved by Union Cabinet on 5th November, 2015.

The scheme envisages:

Financial Turnaround

Operational improvement

Reduction of cost of generation of power

Development of Renewable Energy

Energy efficiency & conservation

https://www.uday.gov.in/about.php

Solution: b)

District Mineral Foundation (DMF) is a trust set up as a non-profit body, in those districts affected by the mining works, to work for the interest and benefit of persons and areas affected by mining related operations. It is funded through the contributions from miners.

Its manner of operation comes under the jurisdiction of the relevant State Government.

Setting up of District Mineral Foundations (DMFs) in all districts in the country affected by mining related operations was mandated through the Mines and Minerals (Development & Regulation) Amendment Act, (MMDRA) 2015.  On 16 September 2015, Central Government issued a notification directing states to set up DMF.

In addition, the Central Government notified on 17 September 2015, the rates of contribution payable by miners to the DMFs.  In case of all mining leases executed before 12th January, 2015 (the date on which MMDR Amendment Act came into force) miners will have to contribute an amount equal to 30% of the royalty payable by them to the DMFs.  Where mining leases are granted after 12.01.2015, the rate of contribution would be 10% of the royalty payable (Subsequent to the enactment of MMDR Amendment Act, mining leases are given out after auctions; hence, a lower levy).

Thus, every holder of a mining lease or a prospecting licence-cum-mining lease shall, in addition to the royalty, pay to the District Mineral Foundation of the district in which their mining operations are carried on. If the mining area is spread across several districts, the fund is shared on a pro-rata basis by these districts. DMF contribution would not be exceeding one-third of royalty and the Central Government retains the power to prescribe the rates of contribution, though DMF’s operation is under state governments. The contributions made to DMFs are collected by the State Governments and the details in this regard are not maintained centrally at the moment.

Under the above mentioned MMRD Amendment Act of 2015, a provision was made also to create a National Mineral Exploration Trust under the jurisdiction of central government, with 2% of royalty as levy, for boosting detailed exploration of minerals.

The contribution to DMFs has been made effective from 12 January, 2015 though DMF was notified only on 16 September 2015. At the above mentioned prescribed rates of contribution, it’s expected that, nearly Rs.6000 crore could be utilized for the development of mining areas of different States, at the current level of royalty collection.

DMF funds are treated as extra-budgetary resources for the State Plan. Efforts are made to achieve convergence with the State and the District Plans so that the activities taken up by the DMF can supplement the development and welfare activities already being carried out.

Further, using the funds generated by this contribution, the DMFs are expected to implement the Pradhan Mantri Khanij Kshetra Kalyan Yojana (PMKKKY), launched on 17 September 2015 for the welfare of mining areas and affected population. The Central Government has issued a directive to the State Governments, under Section 20A of the MMDR Act, 1957, laying down the guidelines for implementation of PMKKKY and directing the States to incorporate the same in the Rules framed by them for the DMFs.

Source: Arthpedia

http://pib.nic.in/newsite/PrintRelease.aspx?relid=126983

Solution: d)

The Micro Units Development & Refinance Agency Ltd (MUDRA) was set up by the Government of India (GoI). MUDRA has been initially formed as a wholly owned subsidiary of Small Industries Development bank of India (SIDBI) with 100% capital being contributed by it. Presently, the authorized capital of MUDRA is 1000 crores and paid up capital is 750 crore, fully subscribed by SIDBI. More capital is expected to enhance the functioning of MUDRA.

Second statement is extrapolation – formal credit helps in formalisation

Non-corporate Small Business: Definition

It is the millions of proprietorship/partnership firms running as small manufacturing units, shopkeepers, fruits/vegetable sellers, truck operators, food-service units, repair shops, machine operators, small industries, artisans, food processors and others, in rural and urban areas.

Loosely referred to as the “unorganised” or “informal” sector, they are mostly self-organised.

Large portion of this sector runs as Own Account Enterprises (OAEs), with no employees … essentially self-employment.

https://www.mudra.org.in/AboutUs/Genesis

Solution: d)

Solution: b)

In 2016 UPSC asked similar question on – International Monetary and Financial Committee (IMFC)

Paris Club

The Paris Club is an informal group of official creditors, industrial countries in most cases, that seeks coordinated and sustainable solutions for debtor nations facing payment difficulties. Paris Club creditors provide debt treatments to debtor countries in the form of rescheduling or reduction in debt service during a defined period or as of a set date. Although the Paris Club has no legal basis, its members agree to a set of rules and principles designed to reach a coordinated agreement on debt rescheduling quickly and efficiently. This voluntary gathering dates back to 1956, when Argentina agreed to meet its public creditors in Paris. Since then, the Paris Club and related ad hoc groups have reached 433 agreements covering 90 debtor countries. The Paris Club and the IMF have extensive contact because the Paris Club normally requires countries to have an active Fund-supported program to qualify for a rescheduling agreement.

For more such clubs: http://www.imf.org/en/About/Factsheets/A-Guide-to-Committees-Groups-and-Clubs#CC

http://www.clubdeparis.org/en/communications/page/permanent-members