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PIB Summaries 01 April 2022


  1. Index of Eight Core Industries
  2. Exercise VARUNA
  3. PM SVANidhi Scheme

Index of Eight Core Industries

Focus: GS III- Indian Economy

Why in News?

The combined Index of Eight Core Industries stood at 137.1 in February 2022, which increased by 5.8 per cent (provisional) as compared to the Index of February 2021.

  • The production of Coal, Natural Gas, Refinery Products, Steel, Cement and Electricity industries increased in February 2022 over the corresponding period of last year.

About Index of Eight Core Industries:

  • The Eight Core Industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Released by: The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade

Click Here To Read More: Index of Eight Core Industries


Exercise VARUNA

Focus: GS III- Security Challenges

Why in News?

The 20th edition of the Bilateral Naval Exercise between Indian and French Navies – ‘VARUNA’ is being conducted in the Arabian Sea from 30 Mar – 03 Apr 22.

About Exercise VARUNA:

  • The Bilateral Naval Exercises between the two Navies were initiated in 1993. The exercise was christened as ‘VARUNA’ in 2001 and has become a vital part of India – France strategic bilateral relationship.
  • Various units including ships, submarines, maritime patrol aircraft, fighter aircraft and helicopters of the two navies are participating in the exercise. 
  • These units will endeavour to enhance and hone their operational skills in maritime theatre, augment inter-operability to undertake maritime security operations and demonstrate their commitment to promote peace, security and stability in the region as an integrated force.
  • Having grown in scope and complexity over the years, VARUNA series of exercises continue to provide both the navies opportunities to learn from each other’s best practices.
  • The exercise has been a principal driver for operational level interactions between the two navies and has underscored the shared commitment of both nations to security, safety and freedom of the global maritime commons.

PM SVANidhi Scheme

Focus: GS-II Social Justice, GS-III India Economy

Why in News?

PM SVANidhi Scheme facilitates provision of collateral free working capital loan to street vendors to restart their businesses. A credit of ₹3,170 crore has been disbursed to 29.1 lakh beneficiaries

PM Street Vendor’s Atmanitbhar Nidhi (PM SVANidhi)

  • PM SVANidhi is a Special Micro-Credit Facility.
  • PM SVANidhi was launched by the Ministry of Housing and Urban Affairs for providing affordable Working Capital loan to street vendors to resume their livelihoods that have been adversely affected due to Covid-19 lockdown.
  • Under the Scheme, the vendors can avail a working capital loan of up to Rs. 10,000, which is repayable in monthly instalments in the tenure of one year.
  • The scheme promotes digital transactions through cash back incentives.
  • Beneficiaries: 50 lakh Street Vendors.

Click Here To Read More: PM SVANidhi Scheme

July 2024