1. Andaman and Nicobar Islands Integrated Development Corporation (ANIIDCO)
Source: The Hindu
GS-3: Economy
Context
The qualifications of the Andaman and Nicobar Islands Integrated Development Corporation (ANIIDCO) have come into question after receiving approval for a mega infrastructure project in Great Nicobar.
Background
ANIIDCO is the project proponent for the ₹72,000 crore mega infrastructure project in Great Nicobar, promoted by NITI Aayog.
The Great Nicobar island, the southernmost in the Andaman and Nicobar archipelago, is a biodiversity hotspot, home to indigenous communities, and located in a tectonically active zone.
The Expert Appraisal Committee (EAC) under the Ministry of Environment found that ANIIDCO lacked internal environmental governance systems. Despite this, environmental clearance was granted in 2022. Moreover, ANIIDCO lacked the necessary human resources to oversee the project.
The Great Nicobar Project
The project involves developing an International Container Transshipment Terminal (ICTT), an international airport, township development, and a 450 MVA gas and solar-based power plant.
The ICTT aims to integrate Great Nicobar into the global maritime economy.
A proposed “greenfield city” will capitalize on both maritime and tourism potential.
The ICTT and power plant will be located in Galathea Bay, in southeastern Great Nicobar, where there is no human habitation.
About ANIIDCO
ANIIDCO is a quasi-government entity, established in 1988 under the Companies Act. Its goal is to promote the balanced and eco-friendly development of the Andaman and Nicobar Islands. Its core activities include trading petroleum products, managing tourism resorts, and developing infrastructure for tourism and fisheries.
Andaman and Nicobar Islands Overview
- Location: 1,300 km southeast of India in the Bay of Bengal, from 6° 45′ N to 13° 41′ N and 92° 12′ E to 93° 57′ E.
- Composed of over 500 islands, divided into two groups: the Andaman Islands and Nicobar Islands.
- The Ten Degree Channel separates the two groups.
- Port Blair, the capital, is in South Andaman.
- The Great Nicobar island is the southernmost in the Nicobar group, home to India’s southernmost point, Indira Point.
- The Barren and Narcondam islands north of Port Blair are volcanic islands.
- The highest peak is Saddle Peak in North Andaman (737 m).
- Ross Island, Neil Island, and Havelock Island were renamed Netaji Subhash Chandra Bose Dweep, Shaheed Dweep, and Swaraj Dweep, respectively, in 2018.
2. Privatisation of Banks in India
GS-3: Economy
Context
At a recent FICCI forum, the Chairman of the 16th Finance Commission supported the privatisation of banks to address the cycle of non-performing assets (NPAs).
About Bank Privatisation in India
Privatisation involves transferring government ownership to the private sector. The Indian government has considered bank privatisation as part of broader economic reforms aimed at improving efficiency, governance, and attracting private capital.
Public sector banks (PSBs) offer stability and support economic growth, whereas private banks focus on profits, which can sometimes result in risky decision-making.
Historical Context
The government nationalised 14 private banks in 1969, followed by six more in 1980, to make the sector inclusive and focus on priority sectors like agriculture and rural development.
The Liberalisation, Privatisation, and Globalisation (LPG) policy in 1991 initiated India’s privatisation journey. PSBs have since supported economic growth, financial inclusion, and infrastructure development.
Recent Developments
- In the 2021 Union Budget, the government announced plans to privatise two PSBs, though specific banks have not yet been finalised.
- The RBI has accepted 21 of 33 recommendations from an internal working group, including raising the cap on promoters’ stake from 15% to 26% over 15 years.
Policy Recommendations
The Narasimham Committee (1991, 1998) recommended banking reforms, such as establishing a quasi-autonomous body under the RBI, creating a hierarchy for banks, and promoting mergers of PSBs for international trade.
3. Smart Cities Mission
Source: The Hindu
GS-3: Economy
Context
The Ministry of Housing and Urban Affairs reported that 90% of the total projects under the Smart Cities Mission have been completed.
Status of the Mission
Legal issues, clearance delays, and resource availability have slowed the remaining 10% of the projects.
Out of 100 smart cities, 17 have completed all projects, and 75% of projects have been completed in 75 cities.
Smart Cities Mission Overview
Launched in 2015 as a Centrally Sponsored Scheme, the mission aims to promote cities with core infrastructure, sustainable environments, and a high quality of life using ‘smart solutions.’
The mission focuses on area-based development (redevelopment, retrofitting, greenfield projects) and pan-city solutions using ICT.
Key Features
The mission addresses six categories: e-governance, waste management, water management, energy management, urban mobility, and skill development. It is built on four pillars: social, physical, institutional, and economic infrastructure.
Integrated Command and Control Centres (ICCCs) manage city operations, and other digital infrastructure initiatives include traffic control systems, smart education, and health systems.
4. OpenAI’s Project Strawberry
Source: The Indian Express
GS-3: Science & Technology
Context
OpenAI is reportedly planning to release its most powerful AI model, codenamed Project Strawberry, which could be integrated into ChatGPT-5.
About Project Strawberry
Initially known as Project Q* (Q-star), it aims to develop Artificial General Intelligence (AGI) with human brain-like capabilities.
Project Strawberry will solve math problems without prior training, perform complex tasks such as designing market strategies, and carry out deep research.
This model will contribute to the development of OpenAI’s next large language model, codenamed Orion