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India has initiated a ₹7,280-crore scheme to incentivize domestic production of rare earth magnets.
The primary objective is to reduce India's significant reliance on China for these crucial components.
The scheme offers capital and sales-linked incentives for five rare earth magnet manufacturing plants over a seven-year period.
Rare earth magnets are indispensable for strategic sectors including electric vehicles, renewable energy, defence, electronics, and aerospace.
The central ministry responsible for formulating and implementing this incentive scheme.
A Public Sector Undertaking (PSU) under the Department of Atomic Energy, serving as India's primary miner and processor of rare earth minerals. It is crucial for raw material supply to domestic magnet manufacturers.
This scheme shares a similar philosophy with other PLI schemes, aiming to boost domestic manufacturing and exports in specific sectors through financial incentives.
Rare earth elements are classified as critical minerals, and this scheme is part of India's broader strategy to secure and process these vital resources.
Directly supports the EV manufacturing sector by ensuring a domestic supply of essential magnet components for motors.
Crucial for wind turbines and other renewable energy technologies that rely on powerful magnets.
Contributes to self-reliance in defence manufacturing by providing key components for advanced military hardware.
GS-III: Indian Economy (mobilization of resources, growth, development, employment), Science & Technology (indigenization, new technologies), Internal Security (challenges through communication networks, role of external state and non-state actors).
General Awareness (Current Affairs, Indian Economy, General Science).
Current Affairs, Indian Economy.
General Awareness (Current Affairs, General Science).
General Awareness (Current Affairs, Science & Technology, National Security).
Consider the following statements: 1. Ballistic missiles are jet-propelled at subsonic speeds throughout their flights, while cruise missiles are rocket-powered only in the initial phase of flight. 2. Agni-V is a medium-range supersonic cruise missile, while BrahMos is a solid-fuelled intercontinental ballistic missile. Which of the statements given above is/are correct?
Answer: Neither 1 nor 2
With reference to Home Guards, consider the following statements: 1. Home Guards are raised under the Home Guards Act and Rules of the Central Government. 2. The role of the Home Guards is to serve as an auxiliary force to the police in maintenance of internal security. 3. To prevent infiltration on the international border/coastal areas, the Border Wing Home Guards Battalions have been raised in some States. How many of the above statements are correct?
Answer: Only two
Which one of the following statements best reflects the idea behind the "Fractional Orbital Bombardment System" often talked about in media?
Answer: A missile is put into a stable orbit around the Earth and deorbits over a target on the Earth.
High for UPSC (strategic importance, economic policy); Medium for other exams (factual details).
A set of seventeen metallic elements crucial for many high-tech applications, often found together in geological deposits.
Strong permanent magnets made from alloys of rare earth elements, such as Neodymium (NdFeB) and Samarium-Cobalt (SmCo), used in motors, generators, and electronic devices.
Minerals essential for modern technologies and economies, whose supply chains are vulnerable to disruption.
The ability of a supply chain to withstand and recover from disruptions, ensuring continuous availability of goods and services.