Smart Cities

what are Smart Cities?

  • A ‘smart city’ is an urban region that is highly advanced in terms of overall infrastructure, sustainable real estate, communications and market viability.
  • It is a city where information technology is the principal infrastructure and the basis for providing essential services to residents.
  • There are many technological platforms involved, including but not limited to automated sensor networks and data centres.
  • In a smart city, economic development and activity is sustainable and rationally incremental by virtue of being based on success-oriented market drivers such as supply and demand.
  • They benefit everybody, including citizens, businesses, the government and the environment.

What are the core infrastructure in a Smart City?

  • According to the documents released on the Smart Cities website, the core infrastructure in a smart city would include:
  • Adequate water supply
  • Assured electricity supply
  • Sanitation, including solid waste management
  • Efficient urban mobility and public transport
  • Affordable housing, especially for the poor
  • Robust IT connectivity and digitalisation
  • Good governance, especially e-Governance and citizen participation
  • Sustainable environment
  • Safety and security of citizens, particularly women, children and the elderly
  • Health and education

Important Commitees

N.K.Singh committee To review the FRBM Act of 2003
Ratan Watal Committee On digital payments
Anil Kakodkar Committee On railway safety
A.K.Bhargava Net Neutrality
Madhukar Gupta committee India Pakistan Border issue
Aravind Subramanian Tackle shortage of pulses in India
Bibek Debroy committee Railways and privatization of railways
Shekatkar committee Defense
Shyam Benegal committee Film certification
Shankar Acharya committee To pre pone the financial year to Jan from Apr
Sailesh Nayek Committee Coastal Regulation Zone
Harun Rashid Khan Committee Corporate bond market
Kelkar committee PPP
Parthasarthy Shome committee GAAR recommendations
Madhav Chitale committee De-saltation of Ganga
Amitabh Kant committee
  • look at easing the policy regime for e-commerce players, including the rules for foreign direct investment
  • Bottlenecks of digital payments

EXIM Bank

  • Export–Import Bank of India was established in 1982 under the Export-Import Bank of India Act 1981.
  • Since its inception, Exim Bank of India has been both a catalyst and a key player in the promotion of cross border trade and investment.
  • Over the period, it has evolved into an institution that plays a major role in partnering Indian industries, particularly the Small and Medium Enterprises, in their globalization efforts, through a wide range of products and services offered at all stages of the business cycle, starting from import of technology and export product development to export production, export marketing, pre-shipment and post-shipment and overseas investment.

Market Stabilization Bond

  • MSS bonds bear an interest rate that can boost banks’ income. This incentivizes banks to participate effectively in demonetization drive.
  • MSS as SLR bonds: MSS bonds can also be used to calculate banks’ mandatory bond holding.
  • MSS bonds does not increase Government’s fiscal deficit.
  • According to CRISIL, the stock of G-secs with the RBI, necessary to conduct reverse repo operations, is limited. So MSS is needed.

Monetary Policy Committee

  • MPC is headed by RBI governor, is a six-member panel, of which three members are from RBI and three are independent members selected by government. The independent members are experts in the field of economics, banking or finance.
  • The governor, however, will not enjoy a veto power to overrule the other panel members, but will have a casting vote in case of a tie. No government official will be nominated to the MPC.
  • MPC is expected to bring “value and transparency” to rate-setting decisions.
  • The MPC will meet four times a year to decide on monetary policy by a majority vote.
  • The committee was formed on the recommendation of Urjit Patel Committee, 2014.
  • MPC was constituted on many-heads-are-better-than-one approach and is expected to ensure that the decisions are not influenced by bias or lobbying.