PM Modi flags off Bhopal-New Delhi Vande Bharat Express at Rani Kamlapati Railway Station

• The Vande Bharat Express is a high-speed train service in India.
• It is the country’s first semi-high speed train service, with a maximum speed of 160 km/h.
• The train was designed and manufactured in India, with 80% of its components being indigenous.
• It offers several amenities to passengers, such as Wi-Fi, automatic doors, bio-vacuum toilets, GPS-based passenger information systems, and more.
• The train is also eco-friendly, as it uses regenerative braking systems to conserve energy.
• The introduction of the Vande Bharat Express is a significant step towards the modernization and improvement of the country’s railway infrastructure.

Rajya Sabha passes Competition Amendment Bill, 2023

The Competition Amendment Bill, 2023, intended to update the antitrust law to reflect developments in the economy, was approved by the Rajya Sabha. The Competition Amendment Bill, 2023 seeks to amend the Competition Act, 2002, which empowers the Competition Commission of India (CCI) to stop actions that have a negative impact on the interests of consumers and the competition.

The Bill was introduced to Parliament in August 2022 and referred to the Standing Committee on Finance for review. The committee submitted its report in December 2022, and the Bill was re-introduced with a few amendments in February 2023. The Lok Sabha passed the Bill on March 29.

Key Points

• The Competition Amendment Bill 2023 proposes several changes to the Competition Act of 2002, which regulates antitrust and competition laws in India.
• The proposed changes include reducing the time limit for assessment of combinations, broadening the scope of anti-competitive agreements, and changing penalties.
• Under the new bill, mergers and acquisitions exceeding Rs. 2,000 crores in value must be notified to the Competition Commission of India (CCI), provided that the party being acquired has substantial business operations in India.
• The bill also reduces the overall time limit for the assessment of combinations to 150 days from 210 days.
• Other changes include broadening the scope of anti-competitive agreements to cover hub-and-spoke cartels, sellers, and sales of goods and services, and modifying the factors used by CCI to determine whether an agreement has an appreciable adverse effect on competition.
• Additionally, penalties will be based on income or global turnover, and the liability for contraventions will apply to both the company and the people in charge.
• The bill also introduces a new settlements framework, which allows entities to propose settlements for alleged contraventions.

Chhattisgarh’s Nagri Dubraj rice variety gets GI tag

The Geographical Indication Registry has given the aromatic rice variety Nagri Dubraj from Chhattisgarh a geographical indication (GI) label. This will give the brand a distinctive character and broaden its market. Authorities in Chhattisgarh have been working to get Nagri Dubraj`s GI tag for a very long time. Due to its consistent connection with the appropriate authorities, the Indira Gandhi Agricultural University was crucial in securing the rights. Also, a self-help group of women produces the rice.

The “Maa Durga Swasahayata Samuh,” a self-help group of women from Nagri in Dhamtari district, has been growing and harvesting Dubraj rice and applied for the GI tag. Last year, the Chief Minister of Chhattisgarh, Bhupesh Baghel, pledged to take action to ensure that the fragrance of Dubraj rice returns to the farmers’ fields. Dubraj rice, also known as the “Basmati of Chhattisgarh,” is highly aromatic.

National Current Affairs April 1st Week 2023