SCO is an 8-member Eurasian economic and security bloc led by China.
It was founded in 2001 with China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan as its founding members.
India and Pakistan became full time members in 2017 in the backdrop of Astana summit of SCO in Kazakhstan.
2 permanent bodies of SCO include Secretariat: Beijing and Executive Committee of RATS (Regional Anti-Terrorist Structure): Tashkent
SCO has 4 observers and 6 dialogue partners.
4 observer states include Afghanistan, Belarus, Iran and Mongolia. 6 dialogue partners include Azerbaijan, Armenia, Cambodia, Nepal, Turkey and Sri Lanka.
2. G20 Group
The Group of 20 (G-20), is a group of finance ministers and central bank governors from 19 of the world’s largest economies, along with the European Union.
It is formed in 1999, following the Asian and Russian financial crises, G-20 has a mandate to promote global economic growth, international trade, and regulation of financial markets.
G-20 is a forum is not a legislative body and its agreements and decisions have no legal impact, but they do influence countries’ policies and global cooperation.
3.BrahMos supersonic cruise missile
Strike range of more than 400 km.
Can be launched from land, sea platforms as well as fighter jets.
1st extended version of the missile, which had a strike range of 450 km, was successfully tested on 2017.
Jointly developed by the DRDO and NPOM, a leading aerospace enterprise of Russia.
Medium-range ramjet supersonic cruise missile capable of being launched from submarines, warships, fighter jets or land.
4. Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
It is the flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) implemented by National Skill Development Corporation.
The objective of this Skill Certification Scheme is to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood.
Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL).
The scheme will cover 10 million youth during the period 2016 -2020. Under this Scheme, Training and Assessment fees are completely paid by the Government.
Skill training would be done based on the National Skill Qualification Framework (NSQF) and industry led standards.
Eligible Beneficiaries: The scheme is applicable to any candidate of Indian nationality who: an unemployed youth, college / school dropout and has a verifiable identity proof – Aadhaar / Voter id and a bank account.
5.PM Kisan Maan Dhan Yojana
PM-KMY is an old age pension scheme for all land holding Small and Marginal Farmers (SMFs) in the country.
It is a voluntary and contributory pension scheme for the entry age group of 18 to 40 years with a provision of minimum fixed pension of Rs.3,000/- on attaining the age of 60 years.
The farmers will have to make a monthly contribution of Rs.55 to Rs.200, depending on their age of entry, in the Pension Fund till the age of 60 years.
For example, a beneficiary farmer is required to contribute Rs 100/ – per month at median entry age of 29 years.
The Central Government shall also contribute to the Pension Fund an equal amount as contributed by the eligible farmer.
An interesting feature of the Scheme is that the farmers can opt to allow his/her monthly contribution to the Scheme to be made from the benefits drawn from the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme directly.
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Economic Current Affairs: Wholesale price index-based inflation (WPI) rose to 4.17% in February. Wholesale price index-based inflation (WPI) rose to 4.17 percent for the second consecutive month in February as food, fuel and electricity prices rose. WPI inflation was 2.03 percent in January and 2.26 percent in February 2020. The Finance Minister introduced a bill […]