GOI accords “Maharatna” status to state-owned PFC Ltd
Table of Contents
Daily Current Affairs
GOI accorded ‘Maharatna’ status to the state-owned Power Finance Corporation Ltd (PFC), giving it greater operational and financial autonomy. Incorporated in 1986, PFC is the largest Infrastructure Finance Company, exclusively dedicated to Power Sector under the administrative control of the Ministry of Power.
The enhanced powers that come with “Maharatna Status” will also help PFC in pushing the government’s agenda of funding under the National Infrastructure Pipeline, national commitment of 40% green energy by 2030 and effective monitoring and implementation of the New Revamped Distribution Sector Scheme with an outlay of more than Rs.3 Lakh crore, Union Minister of Power and New and Renewable Energy RK Singh said.
List of Maharatna Companies in India
Daily Current Affairs
1. Bharat Heavy Electricals Limited
2. Bharat Petroleum Corporation Limited
3. Coal India Limited
4. GAIL (India) Limited
5. Hindustan Petroleum Corporation Limited
6. Indian Oil Corporation Limited
7. NTPC Limited
8. Oil & Natural Gas Corporation Limited
9. Power Grid Corporation of India Limited
10. Steel Authority of India Limited
11. PFC Ltd.
Gati Shakti-National Master Plan
Daily Current Affairs
Stressing how quality infrastructure could fast-track the country’s development and economic competitiveness and lamenting the ‘waste’ of resources over the years in the absence of a holistic and well-coordinated approach to this vital element of nation-building, Prime Minister Narendra Modi on Wednesday launched a National Master Plan for ‘multi-modal connectivity’, and called it PM Gati Shakti.
The new initiative is a GIS-based platform with as many as 600 layers, capturing all utilities and network linkages in various economic clusters. Ambitious targets have been set under the plan for capacity addition in various infrastructure sectors for 2024-25.
Objective: The new plan will complement the Rs 111-lakh-crore National Infrastructure Pipeline and multiple efforts to generate resources for it, including the National Monetisation Pipeline and the development finance institution (DFI) being operationalised.
Gati Shakti will help cut logistic costs, increase cargo handling capacity at ports and reduce the turnaround time, Modi said here, addressing a gathering after inaugurating a New Exhibition Complex at Pragati Maidan. The idea is to lend more power and speed to projects by connecting all concerned departments on one platform, he said.
Second phase of Malabar exercise 2021
The Indian Navy participated in the second phase of Malabar exercise along with the Japan Maritime Self Defence Force (JMSDF), Royal Australian Navy (RAN) and the United States Navy (USN). The multilateral maritime exercise take place in the Bay of Bengal from October 12-15, 2021.
The US Navy represented by nuclear-powered US aircraft carrier Carl Vinson along with two destroyers, USS Lake Champlain and USS Stockdale. The JMSDF will deploy helicopter carrier JS Kaga and Murasame-class destroyers JS Murasame while the Royal Australian Navy will be represented by HMAS Ballarat and HMAS Sirius.
Indian Navy represented by its Shivalik-class multi-role stealth frigate INS Shivalik (F 47), and Kamorta-class anti-submarine warfare corvette INS Kadmatt (P 29). Representing the JMSDF is Izumo-class multi-purpose operation destroyer JS Kaga (DDH 184), Murasame-class destroyers JS Murasame (DD 101) and JS Shiranui (DD 120). Representing Australia is Anzac-class frigate HMAS Warramonga (FFH 152). Maritime patrol and reconnaissance aircraft are scheduled to include an IN P-8, JMSDF P-1, and U.S. P-8A.
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