- ASIAN DEVELOPMENT BANK
- NATIONAL MONETIZATION PIPELINE
- SIMHADRI PV PROJECT
- SERB – POWER
ASIAN DEVELOPMENT BANK
Focus: GS II- International Groupings
Why in News?
The Government of India and the Asian Development Bank (ADB) signed a $500 million loan to expand the metro rail network in Bengaluru with construction of two new metro lines totaling 56 km in length.
About Asian Development Bank (ADB):
- The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966 to promote social and economic development in Asia.
- It is headquartered in the city of Mandaluyong, Metro Manila, Philippines.
- The ADB was modeled closely on the World Bank and an official United Nations Observer.
- Japan holds the largest proportion of shares in ADB followed by the USA, and it has a weighted voting system where votes are distributed in proportion with members’ capital subscriptions (just like the World Bank).
- The bank admits the members of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP, formerly the Economic Commission for Asia and the Far East or ECAFE) and non-regional developed countries.
- ADB defines itself as a social development organization that is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.
- ADB aids in reducing poverty through investments in the form of loans, grants and information sharing (in infrastructure, health care services, financial and public administration systems), helping nations prepare for the impact of climate change or better manage their natural resources, as well as other areas.
NATIONAL MONETIZATION PIPELINE
Focus: GS III- Infrastructure
Why in News?
Union Minister for Finance and Corporate Affairs launched the asset monetisation pipeline of Central ministries and public sector entities: ‘National Monetisation Pipeline (NMP Volumes 1 & 2)’.
- The pipeline has been developed by NITI Aayog, in consultation with infrastructure line ministries, based on the mandate for ‘Asset Monetisation’ under Union Budget 2021-22.
National Monetization Pipeline (NMP)
The NMP comprises a four-year pipeline of the Central Government’s brownfield infrastructure assets.
Objective: To unlock the value of investments in brownfield public sector assets by tapping institutional and long-term patient capital, which can thereafter be leveraged for further public investments.
- To provide a medium term roadmap of the programme for public asset owners; along with visibility on potential assets to private sector.
- To create a systematic and transparent mechanism for public authorities to monitor the performance of the initiative and for investors to plan their future activities.
Report on NMP has been organised into two volumes:
- Volume I is structured as a guidance book, detailing the conceptual approaches and potential models for asset monetisation.
- Volume II is the actual roadmap for monetisation, including the pipeline of core infrastructure assets under Central Govt.
What is Asset Monetization?
- Asset monetisation is the process of unlocking the value of investment made in public assets which have not yielded appropriate or potential returns so far.
- Asset monetisation, based on the philosophy of Creation through Monetisation, is aimed at tapping private sector investment for new infrastructure creation.
- This is necessary for creating employment opportunities, thereby enabling high economic growth and seamlessly integrating the rural and semi-urban areas for overall public welfare.
- Many public sector assets are sub-optimally utilized and could be appropriately monetized to create greater financial leverage and value for the companies and of the equity that the government has invested in them.
- This helps in the accurate estimation of public assets which would help in the better financial management of government/public resources over time.
Other core infrastructure assets that will be rolled out under the Asset Monetization Programme are:
- NHAI Operational Toll Roads
- Transmission Assets of PGCIL
- Oil and Gas Pipelines of GAIL, IOCL and HPCL (iv) AAI Airports in Tier II and III cities,
- Other Railway Infrastructure Assets
- Warehousing Assets of CPSEs such as Central Warehousing Corporation and NAFED among others
- Sports Stadiums
SIMHADRI PV PROJECT
Focus: GS III- Infrastructure
Why in News?
The National Thermal Power Corporation (NTPC) has commissioned the largest floating solar PV project of 25MW on the reservoir of its Simhadri thermal station in Visakhapatnam, Andhra Pradesh.
About Simhadri PV Project
- The 2000MW coal-based Simhadri Station is the first power project to implement an open sea intake from the Bay of Bengal which has been functional for more than 20 years.
- This is the first solar project to be set up under the flexibilization scheme of coal-powered plant, notified in 2018.
- The floating solar installation which has a unique anchoring design is spread over 75 acres in an RW reservoir.
- This floating solar project has the potential to generate electricity from more than 1 lakh solar PV modules.
- This would not only help to light around 7,000 households but also ensure at least 46,000 tons of CO2e are kept at arm’s length every year during the lifespan of this project.
- The project is also expected to save 1,364 million litres of water per annum. This would be adequate to meet the yearly water requirements of 6,700 households.
National Thermal Power Corporation
- It is an Indian statutory corporation engaged in the generation of electricity and allied activities.
- It is incorporated under the Companies Act 1956 and is under the jurisdiction of the Ministry of Power.
- NTPC Ltd. is a central Public Sector Undertaking (PSU) under the Ministry of Power.
- It is India’s largest energy conglomerate with roots planted way back in 1975 to accelerate power development in India.
- Aim: To provide reliable power and related solutions in an economical, efficient and environment-friendly manner, driven by innovation and agility.
- It became a Maharatna company in May 2010.
- It is located in New Delhi.
SERB – POWER
Focus: GS II- Welfare Schemes
About SERB-POWER (Promoting Opportunities for Women in Exploratory Research)Scheme :
- It is a scheme to mitigate gender disparity in science and engineering research funding in various S&T programs in Indian academic institutions and R&D laboratories.
- Integration of the gender dimension in research design has gained considerable attention in the global scenario. Enhancement of participation and promotion of women in the research workforce is one of the prime priorities of Government.
SERB – POWER Scheme will have two components namely;-
- (i) SERB-POWER Fellowship.
- (ii) SERB- POWER Research Grants.
About Science and Engineering Research Board (SERB);-
- The Science and Engineering Research Board (SERB), a Statutory body of the Department of Science and Technology (DST), Government of India, has been contemplating to institute a scheme to mitigate gender disparity in science and engineering research in various S&T programs in Indian academic institutions and R&D laboratories.
- It is a statutory body under the Department of science and Technology, Ministry of Science and Technology established by an Act of the Parliament of India in 2009.
- It is chaired by the Secretary to the Government of India in the Department of Science and Technology and has other senior government officials and eminent scientists as members.
- It was set up for promoting basic research in science and engineering and to provide financial assistance to scientists, academic institutions, Research and Development laboratories, industrial concerns and other agencies for such research.