US passes 'chips bill' to boost semiconductor production
US passes 'chips bill' to boost semiconductor production
Why is it in news?
Recently
the US House of Representatives passed the Chips and Science Bill. CHIPS Bill stands
for "Creating Helpful Incentives to Produce Semiconductors". The
CHIPS bill has been passed to provide assistance and subsidies worth USD 280
billion.
Features
of the bill
•
The bill specifically focuses on the semiconductor industry in the US.
•
The semiconductor industry in the US is facing competition from China.
•
It will provide USD 52 billion to companies that are involved in making chips
in the US.
•
USD 200 billion will be provided for scientific research in the field of
artificial intelligence and other innovative technologies.
•
This bill was passed keeping many things in mind. In 2021, there was a global
shortage of semiconductors or chips.
•
It prompted the US to recognize its need for substantial manufacturing. In
addition, the increasing use of laptops from 2020 has further fueled the demand
for chips.
•
Currently, 75% of the world's dependence on semiconductors is met by East Asia.
Semiconductors:
Significance
•
Semiconductors are important for driving most of the electronic devices used in
daily life. They are made of a material such as silicone.
•
They are used as data-storing memory chips, or logic chips, to run programs.
What is Craft Village Initiative?
What is Craft Village Initiative?
Why is
it in news?
The government is linking major tourist
destinations with the support of handicraft clusters and infrastructure as a
part of the “Linking Textile with Tourism” initiative. In this regard, 8 Shilp
Grams have already been established for the overall development of the
villages. Craft promotion and tourism are being promoted in these villages.
8 Craft Villages
Raghurajpur (Odisha)
Tirupati (Andhra Pradesh)
Vadaj (Gujarat)
Naini (Uttar Pradesh)
Anegundi (Karnataka)
Mahabalipuram (Tamil Nadu)
Taj Ganj (Uttar Pradesh)
Amer (Rajasthan)
• These craft villages will promote
handicrafts as a viable and money-earning livelihood option for artisans in
clusters.
• It will protect the rich artistic heritage
of India.
• The Craft Village initiative will benefit about
1000 artisans across India.
• The program has also increased the influx
of tourists to these craft villages.
Introduction
• The concept of a craft village was drafted
to collect most of the craft samples and craftsmen at one place.
• The infrastructure and environment in the
Craft Village is designed in a village style to reflect the spirit of rural
life in India. These villages also act as a market, where one can buy artefacts
at a lower price than the normal market.
Significance
• Crafts are an important part of Indian
culture.
• These crafts flourish in the far flung
areas of the country.
• Most of the crafts are practiced as family
and past heritage.
• Craftsmen have inherited the craft from
their ancestors.
• This tradition is being followed for
centuries.
6 billion transactions recorded through UPI in July 2022
6 billion transactions recorded through UPI in July 2022