Indian Railways PSUs, RITES Ltd and IRCON granted Navratna status (GS Paper 3, Economy)
Why in news?
- The Ministry of Finance recently conferred ‘Navratna’ status on RITES and IRCON.
- IRCON International Limited (IRCON) and RITES Ltd(RITES) both Central Public Sector Enterprise (CPSE) under the Ministry of Railways, have been announced as 15th and 16thNavratna respectively among CPSEs.
About RITES Ltd:
- RITES Ltd, formerly known as Rail India Technical and Economic Service Limited was incorporated on April 26, 1974.
- Entering its 50th year of incorporation, RITES Ltd is a leading transport infrastructure consultancy and engineering firm in India.
- It provides services in the diverse sectors of transportation, railways, export of rolling stock, highways, airports, metros, urban engineering & sustainability, ports & waterways, and energy management.
- The award of Navratna status will enable RITES to further nurture its brand, compete more effectively in the global market and pursue new frontiers more aggressively for growth.
About IRCON:
- Indian Railway Construction International Limited (IRCON) was established in 1976, by the Indian Railways under the Indian Companies Act 1956.
- The core competence of IRCON in 47th years is in Railways, Highways & Extra High Tension substation engineering and Construction.
- The company has executed projects operated in the areas of Railway construction including ballast less track, electrification, tunnelling, signal & telecommunication as well as leasing of locos, construction of roads, highways, commercial, industrial & residential buildings and complexes, airport runway and hangars, metro and mass rapid transit system, etc.
- The company has posted a consolidated annual turnover of Rs.10,750crore and Profit after Tax of Rs.765 crore in the Financial Year 2022-23.
About Navratna Status:
- Earlier in April 2023, RVNL was also awarded 'Navratna' status.
- The 'Navratna' companies are typically selected based on their financial performance, operational efficiency, and strategic importance to the Indian economy. These companies are given more freedom in making decisions related to investments, joint ventures, mergers, and acquisitions.
- Other companies that hold the 'Navratna' status are
- Bharat Electronics, Shipping Corporation of India,
- Hindustan Aeronautics,
- Rashtriya Ispat Nigam,
- Engineers India,
- NMDC,
- National Buildings Construction Corporation,
- ONGC Videsh,
- NLC India,
- Oil India,
- Mahanagar Telephone Nigam,
- National Aluminium Company, and
- Container Corporation of India.
- Navratna companies can achieve ‘Maharatna’ status by meeting specific performance benchmarks and fulfilling certain eligibility criteria.
Way Forward:
- With the grant of “Navratna” status, the companies should benefit in enhancing the market credibility and in undertaking larger size PPP projects.
Notification issued for Green Credit Program (GCP) and Ecomark scheme Under LiFE Initiative
(GS Paper 3, Environment)
Why in news?
- To take ahead the 'LiFE' - 'Lifestyle for Environment' movement announced by the Prime Minister in 2021, the Ministry of Environment, Forest and Climate Change has introduced two pioneering initiatives.
These initiatives, the Green Credit Program (GCP) and the Ecomark Scheme, seek to encourage environmentally friendly practices rooted in tradition and conservation; reflecting the ideas of LiFE concept.
Green Credit Program (GCP):
- Incentivizing Environmental Actions Green Credit Program (GCP) is an innovative market-based mechanism designed to incentivize voluntary environmental actions across diverse sectors, by various stakeholders like individuals, communities, private sector industries, and companies.
- The GCP's governance framework is supported by an inter-ministerial Steering Committee and the Indian Council of Forestry Research and Education (ICFRE) serves as the GCP Administrator, responsible for program implementation, management, monitoring, and operation.
- In its initial phase, the GCP focuses on two key activities: water conservation and afforestation.
- Draft methodologies for awarding Green Credits have been developed and will be notified for stakeholder consultation. These methodologies set benchmarks for each activity/process, to ensure environmental impact and fungibility across sectors.
- A user-friendly digital platform will streamline the processes for registration of projects, its verification, and issuance of Green Credits.
- The Green Credit Registry and trading platform, being developed by ICFRE along with experts, would facilitate the registration and thereafter, the buying and selling of Green Credits.
- The Administrator will verify the activity through a designated agency, with self-verification for small projects.
- Once verification is complete, the Administrator will grant a Green Credit certificate which will be tradable on the green credit platform.
Ecomark Scheme:
- The philosophy behind LiFE, (Lifestyle for Environment) is nudging individual choices and behavior towards sustainability.
- In line with this approach, the MoEF&CC has recast its Ecomark notification so that consumers are able to make choices among products and thereby opt for those products that are eco-friendly in their design, process etc.
- The Ecomark Scheme replaces the previous Notification. It provides accreditation and labelling for household and consumer products that meet specific environmental criteria while maintaining quality standards as per Indian norms.
- Products accredited under the Ecomark Scheme will adhere to specific environmental criteria, ensuring minimal environmental impact. It will build consumer awareness of environmental issues and encourage eco-conscious choices.
- It will also motivate manufacturers to shift towards environmentally friendly production.
- The scheme seeks to ensure accurate labelling and prevent misleading information about products.
Implementation:
- The Central Pollution Control Board administers the Ecomark Scheme in partnership with Bureau of Indian Standards (BIS), which is the national body for standards and certification.
Way Forward:
- Both initiatives mark significant steps in promoting sustainable living, environmental conservation, and, through individual and collective choice, embody eco-friendly practices in India.
- They align with global sustainability goals and reflect the government's commitment to conservation and protection of the environment
What is foetal viability in abortion
(GS Paper 2, Health)
Why in news?
- The Supreme Court has been hearing a married woman’s request for ending her 26-week pregnancy. The case has travelled to two different Benches of the SC, and raised crucial questions on the decisional autonomy of a woman to abort, and the legislative framework.
- Two specific ideas have come up during the hearings, which are not usually taken up in India: “foetal viability”, and the rights of the unborn child.
