Current Affairs: Passage of the Day - 30 October 2024 | Current Affairs & General Knowledge - CLAT PDF Download

Directions: Read the passage carefully and answer the questions that follow.
To attract private investment, the state govt has introduced additional financial incentives to a wider range of sectors in its Rajasthan Investment Promotion Scheme (RIPS) 2024.
Rolled out with the Rising Rajasthan investment summit in mind, the scheme improves upon the benefits offered in RIPS 2022.
It has included new sunrise sectors and manufacturing and services thrust sectors, while also enhancing incentives for tourism businesses, IT/ITeS firms, and women-led startups.
Ajitabh Sharma, principal secretary (Industries), said that in addition to the existing sunrise sectors in the previous policy, RIPS 2024 has added a series of new sectors to the sunrise sectors' list, including aero and space, defence, drones, semiconductors, agri-tech, and waste recycling.
The first three units in the sunrise sectors, classified as mega or ultra-mega projects, will be eligible to avail of a 25% additional sunrise booster over and above the capital subsidy, turnover-linked incentive, or investment subsidy. The new sectors will now be eligible to avail of an additional 10% incentive over the asset creation incentive secured by the business unit.
In manufacturing, the new areas added are construction equipment, pumped hydro storage manufacturing, electrolyser manufacturing, and metals. Similarly, the new areas added to the services' 'thrust sectors' list include higher education, knowledge-based industries, vocational training, and skilling.
Recently, chief minister Bhajan Lal Sharma said that Rajasthan signed investment MoUs worth Rs 15 lakh crore under the ‘Rising Rajasthan' Global Investment Summit 2024. The summit will be held in Jaipur from Dec 9 to 11.
To attract private investment, the state govt has introduced additional financial incentives to a wider range of sectors in its Rajasthan Investment Promotion Scheme (RIPS) 2024.
Rolled out with the Rising Rajasthan investment summit in mind, the scheme improves upon the benefits offered in RIPS 2022.
It has included new sunrise sectors and manufacturing and services thrust sectors, while also enhancing incentives for tourism businesses, IT/ITeS firms, and women-led startups.
Ajitabh Sharma, principal secretary (Industries), said that in addition to the existing sunrise sectors in the previous policy, RIPS 2024 has added a series of new sectors to the sunrise sectors' list, including aero and space, defence, drones, semiconductors, agri-tech, and waste recycling.
The first three units in the sunrise sectors, classified as mega or ultra-mega projects, will be eligible to avail of a 25% additional sunrise booster over and above the capital subsidy, turnover-linked incentive, or investment subsidy. The new sectors will now be eligible to avail of an additional 10% incentive over the asset creation incentive secured by the business unit.
In manufacturing, the new areas added are construction equipment, pumped hydro storage manufacturing, electrolyser manufacturing, and metals. Similarly, the new areas added to the services' 'thrust sectors' list include higher education, knowledge-based industries, vocational training, and skilling.
Recently, chief minister Bhajan Lal Sharma said that Rajasthan signed investment MoUs worth Rs 15 lakh crore under the ‘Rising Rajasthan' Global Investment Summit 2024. The summit will be held in Jaipur from Dec 9 to 11.
[Excerpt from TOI "Rajasthan Launches Investment Promotion Scheme 2024" Dated 30/10/24]

Q1: What is the primary aim of the Rajasthan Investment Promotion Scheme (RIPS) 2024?
(a) To reduce taxes in Rajasthan
(b) To boost private investment in various sectors
(c) To increase government funding for public sectors
(d) To promote agriculture in Rajasthan

View Answer  

Ans: (b)
Sol: The primary objective of RIPS 2024 is to attract more private investment across various sectors, enhancing economic growth in the state.

Q2: Which of the following sectors is not included as a new sunrise sector under RIPS 2024?
(a) Drones
(b) Agri-Tech
(c) Real Estate
(d) Waste Recycling

View Answer  

Ans: (c)
Sol: RIPS 2024 includes new sunrise sectors such as Drones, Agri-Tech, and Waste Recycling. Real Estate is not listed as one of the new sunrise sectors in the scheme.

Q3: What additional benefit does the first three units in sunrise sectors receive under RIPS 2024?
(a) 50% tax reduction
(b) 25% additional sunrise booster
(c) Free land for manufacturing
(d) Interest-free loans

View Answer  

Ans: (b)
Sol: The first three units in the newly defined sunrise sectors receive a 25% additional sunrise booster on top of other subsidies and incentives.

Q4: Which new areas in the manufacturing sector does RIPS 2024 cover?
(a) Electrolyser Manufacturing, Real Estate, and Construction Equipment
(b) Pumped Hydro Storage, Electrolyser Manufacturing, and Metals
(c) Tourism, Real Estate, and Knowledge-based industries
(d) Higher Education, Tourism, and Agri-Tech

View Answer  

Ans: (b)
Sol: The new manufacturing areas under RIPS 2024 include Pumped Hydro Storage, Electrolyser Manufacturing, and Metals.

Q5: When is the ‘Rising Rajasthan’ Global Investment Summit scheduled to take place?
(a) November 9-11, 2024
(b) December 9-11, 2024
(c) January 10-12, 2024
(d) October 15-17, 2024

View Answer  

Ans: (b)
Sol: The ‘Rising Rajasthan’ Global Investment Summit is scheduled from December 9 to 11, 2024, in Jaipur.