Bioconductor - UPSC snippets Very Short Q&A

Bioconductor

It is an open source software project based on R programming language. This software project is for analysis and comprehension of genomic data generated by experiments in molecular biology. Bioconductor project is creating a platform through involvement of large number of people from research background by providing computational and statistical tools.

R

R is a language for statistical computing and graphical visualization. The R is open source and one of the widely used/learnt programs. It is used by researchers and scientists. 

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Central Asia Regional Economic Cooperation (CAREC) Program

CAREC

The Central Asia Regional Economic Cooperation (CAREC) Program is a partnership of 11 countries. The development partners working together to promote development through cooperation, leading to accelerated economic growth and poverty reduction. The CAREC was started in 1997 by ADB to encourage economic cooperation among the central asian countries.

Vision Statement: “Good Neighbors, Good Partners, and Good Prospects.”

The CAREC finances, facilitates creation of economic prosperity through cooperation between the member nations. The vast and seamless connectivity will create speedy movement of the goods, development of new cities etc.

Member nations: Afghanistan , Azerbaijan, People's Republic of China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan,Turkmenistan, Uzbekistan

FRBM Act – what is it?

Financial responsibility and Budget Management Act

The act is aimed at bringing transparency and accountability in the fiscal and monetary actions of the government. The set of rules and targets are to be followed which will allow country to create realistic projections and medium term projections. The annual actions to be guided by the medium term plan.

The important documents that are available to public/Parliament are

1. Medium Term Fiscal Policy Statement

2. Macroeconomic Framework Statement

3. Fiscal Policy Strategy Statement

These documents give projections of the revenue, increase in expenditure in each sector etc.

Why the FRBM act is relevant?

India is a developing country and the investments (especially rate of interest of lending) will be based on the financial health of country. If the country has less debt and has relatively accurate projections, the investors would be willing to lend at low rates for longer time. If the credit rating + their own assessment is negative, then the investors won’t focus on the long term and will be ready to exit making profits. They will charge higher interest to cover the risk.

The targets set by the FRBM act can be exempted during the natural calamities, disasters etc.

What is this 3% fiscal deficit limit which you hear often about FRBM ?

The gap between the revenue and expenditure of a country to its GDP should be within 3 percentage. The 3-5 percentage is considered better for a country.

Concerns raised in various news:

1.       The deficits as a result of off-budget borrowings not being included in calculating the fiscal deficit has been criticised. The off-budget borrowings are also debt and to get a complete picture has to be included for getting full picture of the repayment schedule the country will have to bear.

2.       CAG report estimation of GDP 2019 has been higher than budget estimate.

3.       Doubts has been raised by certain economists on the revenue estimates.

Related Article : GDP India

National Infrastructure Investment fund

National Infrastructure Investment fund is an Alternative Investment fund and India’s first sovereign investment fund. The large investment funds/fund managers are facilitated to drive the growth of India’s economy through this fund.

You can read a brief intro into the SWF (sovereign wealth fund) here: Sovereign wealth fund.  

It may be noted that SWF in India is not to park excess fund from natural resources as done by countries like Kuwait, Saudi Arabia, Botwana etc. It is for fund receipt into India. The fund is anchored by Government of India, who is a minority share holder. The NIIF has three types of funds (portfolios)

A.      Master fund – To invest in core assets like ports , roads etc.

B.      Fund of funds – The fund managers with proven track records in association with NIIF invest in areas like Green energy, Affordable housing etc.

C.      Strategic fund – to invest/fund in infrastructure projects  eg: Equity shareholding of 59% in IDFC-IFL.

Advantages for the investors

1.                   Attractive long-term risk-adjusted returns for our investors on a       sustainable basis.

2.                   Anchored by Government of India

3.                   There is 100% tax exemption to their interest, dividend         and capital gains income in respect of investment made in           infrastructure and other notified sectors before 31st March,             2024  and with a minimum lock-in period of 3 years .

4.                   providing local access and expertise

Risks

There is risk of project delays with respect to speed of execution, local conditions, legal issues etc.

The inflow of funds to a particular sector may lead to creation of bubble, stock price manipulations.

Note:  

At the time of writing this article, The world famous firms like DP world, Roadis, ADIA etc are investing in India through the NIIF.