PIB compilation (18 Jan-5 Feb)

India signs Financing Agreement with World Bank for US$ 250 million for Bihar Kosi Basin Development Project 

• The objective of the project is to enhance resilience to floods and increase agricultural production and productivity in the targeted districts in the Kosi River Basin, and to enhance Bihar’s capacity to respond promptly and effectively to an eligible crisis or emergency. 
• The primary beneficiaries will be rural producers and households in the Kosi River Basin who are regularly exposed to floods. This includes farmers who lost their agricultural lands due to the silt deposits brought by the 2008 Kosi River Flood as well as farmers in the project area that are currently without access to irrigation and other technologies, improved agricultural practices and an adequate transport network. 

‘Nai Manzil’ Scheme Launched in Jammu and Kashmir 

• Under the scheme girls from minority communities will be imparted three month skill development training in seven identified sectors relevant to the region. These include training in saffron processing, food processing, embroidery, computers IT (both software and hardware), Tourism/hospitality, electronics and plumbing. Trainees will also be given stipend 
• Nai Manzil Scheme is an integrated Education and Livelihood Initiative for the Minority Communities. The scheme aims to benefit the minority youths who are school-dropouts or educated in the community education institutions like Madrasas, by providing them an integral input of formal education (up till Class VIII or X) and skill training along with certification.
• This will enable them to seek better employment in the organised sector and equipping them with better lives. The scheme covers the entire country. 

Hybrid Annuity model for implementing highway projects

• Adopting such a model for projects not found viable on BOT (Toll) mode shall be more effective in terms of maximizing the quantum of kilometers implemented within the available financial resources of the Government. The main object of the approval is to revive highway projects in the country by making one more mode of delivery of highway projects. 
• An important feature of the Hybrid Annuity Model for highways development is the rational approach adopted for allocation of risks between the PPP partners - the Government and the private partner i.e. the developer/investor.
• While the private partner continues to bear the construction and maintenance risks as in BOT (Toll) projects, it is required only to partly bear financing risk. Further, the developer is insulated from revenue/traffic risk and the inflation risk, which are not within its control. 

CBDT Signs Two Bilateral Advance Pricing Agreements (APAs) With United Kingdom 

• The Central Board of Direct Taxes (CBDT) has entered into two bilateral Advance Pricing Agreements (APAs) with United Kingdom With this signing, CBDT has concluded three bilateral APAs the first one being a bilateral APA signed with Japan in December, 2014. 
• The Advance Pricing Agreement (APA) program allows the taxpayer and the tax authority to avoid future transfer pricing disputes by entering into a prospective agreement.

World Wetlands Day -2nd FEB

• “The World Wetlands Day, celebrated on 2nd February each year around the world to mark the adoption of the Convention on Wetlands in the city of Ramsar in Iran in 1971, is a day to promote, create awareness and ensure positive & affirmative action for conservation of wetlands. 
• The theme of World Wetlands Day this year is ‘Wetlands for our Future – Sustainable Livelihoods’

Government to bring amendment to raise to 50 % reservation for women in panchayats from existing 33% :

• Though some States (M.P,Bihar,Uttarakhand, Himanchal Pradesh)had provided 50 per cent reservation to women in Panchayats, but through the Constitutional Amendment, it will be implemented in the whole country. He also expressed hope that all Political Parties will extend support in the passage of the amendment.
• The Minister also informed that it will also bring about changes in law to reserve the ward for women for two terms of five year each from the existing single term so that they can undertake developmental activities in a continued fashion.