Today's Brief 10/12/2024

IE Analysis: https://youtu.be/6aCYcv0VpcY?si=_v-Gji-ClcUz77-i

JN Analysis: https://youtu.be/1K8gpxcO13Q?si=lEtpleC-W19R1l0o

1 .The Oilfields (Regulation and Development) Amendment Bill, 2024: was introduced in the Rajya Sabha on August 5, 2024. It aims to amend the Oilfields (Regulation and Development) Act, 1948,

aiming to boost domestic production of oil and gas and attract private investment in the sector.

Here's a breakdown of the key points:

• Goal: Encourage domestic production of petroleum and other mineral oils by attracting private companies.

• Changes:

  • Definition of Mineral Oil: The Bill clearly defines "mineral oil" to include natural gas, petroleum, and various hydrocarbons. Excludes coal, lignite, and helium.

  • Petroleum Leases: Replaces "mining leases" with "petroleum leases" for exploration, development, and production activities. Existing mining leases remain valid.

  • Central Government's Role: Empowers the central government to make rules on granting leases, lease terms, conservation practices, royalty collection, etc.

  • Private Investment: Encourages private companies by:

    • Protecting existing mining leases.

    • Replacing criminal penalties for violations with fines.

    • Granting private companies more discretion in operations.

  
  

• Criticisms:

  • States' Rights: Some argue the Bill might encroach on states' power to tax mining activities.

  • Environmental Impact: Concerns exist about potential environmental damage from increased private involvement.

Overall, the Bill aims to make the oil and gas sector more attractive to private companies, potentially leading to increased domestic production. However, some concerns regarding states' rights and environmental impact need to be addressed.

2 .BSF:60th Raising Day Parade of the Border Security Force (BSF) is a central armed police force in India under the Ministry of Home Affairs. It is primarily responsible for guarding India's land borders with Pakistan and Bangladesh.

Vibrant Villages Program, initiated on an experimental basis with a substantial budget of ₹4,800 crore. Under this program, several villages along the country’s northern border, particularly those facing the problem of migration, have been developed as Vibrant Villages.

He stated that various efforts have been made to provide comprehensive connectivity, healthcare facilities, dignity, employment, and basic amenities to the residents of these villages.

program has been launched experimentally in approximately 3,000 villages and will eventually be extended to every village along the country’s borders.

3.INS Tushil, the latest multi-role stealth guided missile frigate has been commissioned into the Indian Navy

4.Sanjay Malhotra will be the next governor for the Reserve Bank of India.

5.The Noida International Airport at Jewar has successfully conducted the first flight validation test, paving the way to begin its full-fledged operations next year.

6.LIC's Bima Sakhi Yojana: is a government initiative aimed at empowering women by providing them with employment opportunities in the insurance sector. Here's a breakdown of the scheme:   

Eligibility:

• Women aged between 18 and 70 years   

• Must have passed Class 10th standard   

Benefits:

• Stipend: Women selected for the scheme will receive a monthly stipend for three years:

  • First year: Rs. 7,000 per month   

  • Second year: Rs. 6,000 per month

  • Third year: Rs. 5,000 per month   

• Training: Selected women will undergo training to become LIC agents.   

• Career Opportunities: After successful completion of training, they can work as LIC agents and even have opportunities to become Development Officers.   

The scheme aims to empower women financially and socially.