 Greetings dear aspirants, welcome to today's current affairs session on civil speedy up. Today we will be discussing about Nomai India program and about the components of national education mission under our prelims topic and about the importance to achieve debt consolidation in order to achieve the fiscal consolidation and about vision 2030 under our main topic. So let's move on to our first prelims topic of the day Nomai India program. So under this topic you need to know something about the program who organizes the program and what is the objective of this particular program and something about the organizer who organizes this Nomai India program. So this Nomai India program is being organized by the National Foundation for communal harmony. So this particular organization is an autonomous organization which works under the ministry of home affairs. So about this particular organization it will provide assistance to those children who have been victims of societal violence. So there are different kinds of violence for example your terrorist violence, violence cause because of caste conflicts, your tribal conflicts or ethnic conflicts etc. So it will promote communal harmony and national integration. Either it will work independently or it will work in collaboration with the state government or the NGOs and it also provides awards to those individuals or organization who are working towards promoting the national integration and communal harmony. And also it does research studies on these two topics. So about this particular Nomai India program. So this Nomai India program is for those rehabilitated kids in the age group of 15-22 years. So they will be brought under one platform and they will be taught about the national integration by means of knowing about the different cultures of different kids who have assembled from the different states. So this is all about the Nomai India program that you need to know from Prillam's point of view. So this particular program is different from your very famous No India program which is under the ministry of external affairs. So easily you can get confused. So please read it very carefully. So let's move on to our next topic, the different components of national education mission. This national education mission was not announced anywhere by the central government but it can be seen in the budget documents. So the last year this particular term was introduced national education mission under which there were four components. These four components are the Sarva Sikshabhiyan, Rashtriya Madhyamik Sikshabhiyan and your teacher training on adult education. And the fourth component is the Rashtriya Uchatar Sikshabhiyan. So this year it has been reduced into three components and we will see about that thing in the later slide. So you need to know about the budgetary allocation to this particular national education mission. So the previous year it was around 32,300 crores and this year it is around 38,572 crores. So that is almost a 19.29% increase over the revised estimate of the previous year. And component wise if you see around 36,300 crores has been allocated to this Samagra Sikshabhiyan component. So this Samagra Sikshabhiyan component basically is a three. First one the Sarva Sikshabhiyan, the Rashtriya Madhyamik Sikshabhiyan and a sub-component under this particular teacher training on adult education. All these three comes under the Samagra Sikshabhiyan. And for the rest of the components it is 150 crores and for the Rashtriya Uchatar Sikshabhiyan it is 2,100 crores. So this interim budget has largely focused towards the children's education at the lower level and at the secondary level. So your education has three levels, one is the primary level, middle level and the higher secondary level. So the Sarva Sikshabhiyan is for those children under your primary education level working towards universalization of your elementary education. If you see this Pade Bharat, Pade Bharat is also coming under this particular scheme. And your Rashtriya Madhyamik Sikshabhiyan is for those children under secondary education or the middle level education. And the third component was the teacher training. So this particular strengthening of teacher's training institution comes under this Samagra Sikshabhiyan as a component. And under this teacher training some budget has been also has been allocated to this Sakshar Bharat which means literate Bharat, Sakshar is literate. And Padna Liknas to read and write. And also if you see Sarva Sikshabhiyan is education for all, education for all. For all Sikshabhiyan is your education, Madhyamik is middle level and Uchatar is higher level or the higher secondary level education. And under this teacher training you also have appointment of language teachers and your school assessment program. Don't remember this, just remember the basic four topics which forms the components of your national education mission. So let's move on to our main topic of the day, debt consolidation. So you need to manage your debts properly in order to achieve your overall fiscal consolidation. So this is the topic for the day. So under this topic I intend to discuss about the different terminologies that is used towards working debt management and what is India's present status. And I'll be discussing the debt management strategy that has been brought in by the Indian government for the year 2018 to 21. So let's go with the terminologies. So you need to know what is fiscal deficit. So fiscal deficit is a deficit or the reduction in money which arises because when expenditure is more than your revenue. So revenue is through your, it can be either through taxes or non-taxes. Then your expenditure is when you're spending, the government spending towards social sector schemes or towards raising infrastructure. So this will all form your basic expenditure. So when your expenditure amount is more than your revenue amount then it forms the fiscal deficit and then the government will come up with the consolidation measures. So those consolidation measures are nothing but those measures, policy measures taken by the government in order to contain this fiscal deficit to some target. So under your FRBM Act of 2003 your fiscal deficit target is 3% and we'll see the evolution of your FRBM Act in our later slides. So this is all you need to know about the fiscal deficit and you also need to know about the debt. So debt is nothing but the outstanding liabilities of the government and the fiscal deficit is nothing but the new borrowings that is being made by the government every year and your revenue deficit is what part of these borrowings that has been used to cover your revenue related expenses. So in order to collect revenue there will be some expenses made by the government. So it will take some money from this borrowed money. So this is the revenue deficit and with regards to the present status of debt by the Indian government. So this has come up in your status paper on debt management which has been released by the directorate of economic affairs under your finance ministry. So as per March 2018 in terms of GDP our internal debt is 93% and our external debt is 3%. So here our internal debt is very much higher than the external debt which is a healthy factor and the second thing here is the internal debt is classified into the total marketable debts and total non-marketable debts. Here the total marketable debt is about 86% of the total internal debt which comprises of your data, securities and treasury bills. And your total non-marketable debts contains treasury bills which are intermediate treasury bills and your securities against small savings etc. So this comprises about 14% and also if you see in the economy these are treasury bills or the data securities have a fixed interest rates. So we are not, our economy is not very much susceptible to the external markets. So the floating interest rate comprises only 1.8% of the total debts. So rest everything is a fixed interest rate which is around 98% approximately. And you need to know about the new FRBM framework. As I told when FRBM Act was introduced in the year 2003 they came up with a target of reducing your fiscal deficit to 3% by 2008-9 years and to your revenue deficit to 0. But there has been changes made to this, amendments made to this particular FRBM Act or some policy decisions that has been taken by the then governments at those point of time. So the latest is the addition to this FRBM framework of 2018-19 made in the year 2018-19. So it discusses largely about fiscal deficit and the debt. So in the fiscal deficit component it aims to achieve 3% of fiscal deficit of GDP by the year 2020-21 and by what means is at least 0.1% or more increase every financial year. So last year it was introduced. So this year it is supposed to reduce 0.1% but it has not reduced so. So if you see last year the data was 3.3 and the revised estimate the government put up a data of 3.4% fiscal deficit and this year also it has maintained at the range of 3.4% fiscal deficit and now around 80,000 crores of Indian national rupees will be incurred because of this fiscal deficit out of which this 75,000 crore will go to versus social sector schemes or the popular schemes that has been announced by the present government in the interim budget. So basically 75,000 crore for your PM Kisan scheme. So it will lead to some sort of fiscal slippage. So this fiscal slippage is because of the social sector spending nothing but spending towards social sector schemes and here the expenditure needs to be expedited in terms of borrowing or revenue. So whatever expenditure that India needs to do the central government needs to do it can only do so by either borrowing the money or towards getting more amount of revenue. So your revenue can be either tax revenue or non tax revenue. So there was a structural reform before 2-3 years in the form of GST and now it is getting some amount of tax revenue which is increasing year on year. But in terms of non tax revenue the government is targeting largely towards disinvestments and even those disinvestment targets by the government are not properly met in the recent years and in terms of borrowings now whatever we are discussing our debt management is in terms of borrowings. But India's at a healthier position compared to other developing countries and developed countries of the world where our debt to GDP ratios very much lesser than the percentage of GDP. So it is very much less compared to those nations. So that is why there is major financial crisis in countries like Venezuela and also debt crisis in your countries of Greece, Italy etc. So this is all about the fiscal deficit target that has been set by the government. So the second component is the debt component. So here the central government has taken the recommendations of the encasing committee which was released in the year 2017 April month. So it has taken recommendation of that particular encasing committee. So it has spoken there in that committee report is to reduce the central government debt to 40% of GDP by the year 2024-25. And the central government debt to 60% so general government is which includes both your central government and your state government. So 40% for the central government and 20% for the state government. So this is the target setup by the government for itself which has to be achieved by the year 2024-25. If you see the debt to GDP ratio of the previous five years so it has largely reduced for the central government. So 47.5 to 47.1 to 47.4 then it reduced to 45.9 and again it increased to some extent to 46.5. So this increases because of those money pumped in by the central government towards recapitalization of the banks. So if you indicate that it is like more or less the center is working towards achieving its goal. But if you see in the case of states the overall debt to GDP ratio is increasing year on year which means the states are not maintaining a very healthy debt targets. So this is the data taken for the previous five years and just have it in mind. So this has been published in the status paper on government debt by the Department of Economic Affairs under your Finance Ministry. So this will be useful for your mains as well. So this status paper on government debt has come up with this medium term debt management strategy. So this was introduced in the year 2015 for a period of three years 15 to 18. So this is the second strategy document released by the government. So this strategy for 2018-21 is based on three pillars to focus on low cost of borrowing to mitigate the risks and to develop the markets the security markets and as a part of this particular debt management strategy your external debts and small savings schemes has also been included under this debt management strategy ambit. And it is also said by the International Monetary Foundation in its world economic outlook that India will have a stable growth in the years to come. So stable and higher growth along with low inflation. So this would be favorable for India's fiscal prudence and debt consolidation. That's why in the interim budget the Finance Minister Mr. Piyush Goyal told that will focus largely on debt consolidation after ending this fiscal consolidation. So the three pillars, so I intend to discuss three pillars in detail. So this will be helpful for your mains. So here first is the low cost of borrowing. So the government intends to borrow in on low cost by developing the proper government securities market. So how it will develop by properly estimating the demands. So the government will add year on year demand to borrow some amount of money. So from the Indian investors, so your internal debt is large. So internal debt is because of those investors who are invested in these government securities. So they form the source of money for the government which the government borrows. So this demand has to be properly planned by the government. So already this government has come up with your half yearly demand estimation. So it is working perfectly and it is also brought in transparency to the entire system. So this sharing of information about market borrowings has improved the transparency of debt management operations. So the government intends to continue this and also the government will plan on planned issuances. And the investment preferences of the investors will be taken care by the government. How the government will engage with these investors. So they are the banks basically the banks or some other investors who invest on these borrowings or the government security. So they will have proper communication channels with them. So to elongate the maturity period in order to reduce the roll over risk. So you need to know that for government securities they will mostly be long term. So for 7 years or 10 years and some GSECs are also end short term. So there will be a roll over risk. So this roll over risk is basically a risk associated with your debt refinancing. So when a debt which is about to be mature will be rolled over into a new debt. So it will have some risk associated with it. So this is called the roll over risk. So this can be overcome when the maturity period is very high. Say for 10 years, 14 years etc. So this is what this point intends to say to elongate the maturity period in order to overcome the roll over risks. So and also it will focus on the risk mitigation. So this debt portfolio exposed to risk needs to be monitored and managed. So all these risks will be taken into account. First one is the roll over risks. Second is the risk because arising out of your currency or exchange rates and risks associated with the interest rates. For us it was very less around 1.8% only which we discussed. So this will not affect to a major extent. And your sudden stop risks. So the sudden stop is nothing but the sudden stoppage in the demand. So every year there will be a demand for the government to borrow the money. But what if it suddenly stops? So this is the risk associated with the debt portfolio. So the government has come up with some plans to manage or mitigate these risks. So one thing is the investor relations. So this will be properly improved through regular consultations, investor consultations. So they will have meeting with the investors in order to know their expectations and the government will take measures towards implementing their expectations. And the government wants to develop this particular GSEC market. So it aims for a well-developed GSEC market which would price the debt very efficiently. If you see in the previous year 2018-2019 it came up with two and five year securities in order to bring a balance to this debt portfolio management. And also there is a larger amount of liquidity in your GSEC market. Nothing but the smoothness in the transactions between the government and the investors. But for the previous two years it was a bit stressed. So the government intends to focus on this stress to in order to improve the liquidity in the GSEC market. This again will be ensured only with improved investor relations. And the government also intends to diversify this institutional investor base. So right now it is only those scheduled commercial banks, larger banks of India. Now the cooperative banks, regional, rural banks and non-banking financial institutions and also your pension funds and mutual funds are also becoming a part of this institutional investor base. That way the government wants to diversify this particular base. And also it wants to very carefully calibrate its approach towards opening the market for foreign and retail investors. Because there will be some implications when it is being open to your foreign investors. But the government will take a very careful step towards that. And the government will actively consolidate through buybacks or your loan switches or your loan conversions for your effective liability management. So liability is nothing but your debt. Your debt is a liability for efficient debt management. The government will consider all this. So this all these three forms the pillars of your status paper on government debt. So the central government has given a status paper on government debt to manage those debt or debt that arises for the central government, largely for the central government. If you see for the state governments the encasing committee recommended that each state government should have its own trajectory, your debt trajectory. So that it will be easy for the center to track the debts of the individual states in an individual manner. But this has not been considered by the central government. Once you can see in this debt to GDP ratio that the debt to GDP ratio of the states is keep on increasing. So the central government is not taking any concrete measures towards that because it also needs the states involvement in this collaboration or cooperation in this. So this has to be taken care by the central government. So this status paper largely focuses for the central government debt but not for the state government debt. So in these lines you can give your suggestions when a question comes on managing your debt very effectively. But this we are moving on to our next topic vision 2030. So this vision was announced by the finance minister in his interim budget statement. So yes mention some 10 dimensions towards achieving this vision 2030. So let us see those 10 dimensions. First one is the physical and social infrastructure. Second one is promoting digital India. Third is clean and green India. Fourth is rural industrialization. And fifth is clean rivers. Sixth is oceans and coastline. And seventh focus on space. And eighth is dimension is your self-sufficiency in food production. And ninth dimension is your health. And the 10th dimension is minimum government but maximum governance. So let us see these different dimensions and details to what the government has elaborated on. So under your physical and social infrastructure which is your first dimension the government intends to build the next generation infrastructure which includes your roads, rail, seas, air and also your urban transport, gas and electric transmission and also with focus on inland waterways. Under your social infrastructure the government aims a house for every family. So every family will have its own roof and it will live in a clean healthy and then hold some environment. So the government aims to build a quality science-oriented educational system with institutes of excellence for providing top-level leadership to all those private companies and also to the government in the long run along with providing homes to the every family in the country. And the second dimension is your digital India component. So the digital infrastructure and the digital economy of 2030 will be built upon the success achieved because of introducing the digital India from the year 2014. So the India's youth will lead this endeavor in numerable startups by creating digital India plus some a million jobs. So this was the goal or division document under the digital India. So the third dimension is your clean and green India. So clean and green India is achieving towards blue skies or clear skies which is free of pollution and also your land which is free of pollution. So it aims to ensure energy security plus reduced imports. So energy security can be done only when India is focusing on your renewables. So India's plan of switching over to renewables that by reducing the dependence of fossil fuels. So once the dependence of fossil fuels is reduced, your imports will also reduce. So in order to enhance this renewables, the government will largely focus towards transport revolution by introducing your electric vehicles and your energy storage devices in order to operate these electric vehicles. And renewables will become a major source of energy supply. So the fourth component is the rural industrialization which means developing villages as rural industrialized clusters. So in order to generate mass employment through rural industrialization. So this will build upon this make in India approach whereby the villages will become clusters of production. Already India is known to be a manufacturing hub in certain sectors. So India will build up on this. And the fifth dimension is the clean rivers. So this government has taken a large interest towards cleaning the river Ganga. Once this government came into being it started with this clean Ganga mission. So in lines of that India wants to clean all the rest of the rivers as well. And it also aims to provide safe drinking water to all Indians to have a proper nourishing life. And it also aims to efficiently use the water by introducing the micro irrigation techniques in agriculture. So the sixth component is the oceans and the coastline. As we all know India has a very huge coastline. So this coastlines will bolster the blue economy nothing but towards the fisheries. And efforts in Sagar Mala program nothing but your ports development program will be scaled up in order to achieve this vision. And the inland waterways will also be vastly developed. So if you see the first under our first component physical and social infrastructure. There was a need for developing the inland waterways along with that this dimension of vision 2013 will also be taken along with. And India also aims at outer skies because India is one of those countries which is leading in space related research activities. And India is now working on Gaganyan mission the manned space mission. So it will send an Indian astronaut to space by the year 2022. So India aims to become a launch pad of satellites in the world. So this was put up by the government. And the eighth dimension of vision 2030 is self-sufficiency in food production in order to achieve self-sufficiency and also to produce food in the most organic way. So this for achieving this the technology innovations that have been introduced in the field of agriculture would be taken up. So high farm production and productivity will be achieved through your modern agriculture production and value addition. And a very integrated approach will be given by the government towards the entire agriculture and the food processing sector. So it is not that agriculture separate food processing is separate but an integrated approach to both the sectors starting from preservation, packaging, your maintenance of coal chain everything is the focus of this government under this eight dimension. And your ninth dimension is health. So a lot has been discussed about health and the present government has also come up with the Ayushman Bharat program. So it largely focuses on building up the necessary health infrastructure with a distress free healthcare and a functional and a comprehensive wellness system. So this will be built upon and participation of women also will be taken care along with this Ayushman Bharat scheme. And your tenth component is your minimum government maximum governance. So all this government employees will work in cohesiveness with those present governments either at the center or at the state in order to achieve this tenth dimension. So they will be very proactive and they will be a responsible bureaucracy and they will also be very friendly to people thereby achieving this minimum government maximum governance. So these are the ten dimensions of vision 2013 30 and I have given this in a very nutshell. So this will be easy for you to prepare for prelims main point of view. But this we are winding up our today's topic. 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