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Paper 3 Topic: Effects of liberalization on the economy, changes in industrial policy and their
effects on industrial growth.
sector.
Sources: the hindu.
The unique hull form of the ship demonstrates the countrys ship design and shipbuilding capabilities. The
catamaran hull configuration significantly reduces the power requirement of the ship that is capable of
attaining 15 knots.
The unique design of the vessel is a collaborative effort of Naval Science and Technological Laboratory
(NSTL), IIT Kharagpur and Shoft Shipyard.
INS Astradhani will be used to carry out the technical trials of underwater weapons and systems developed
by NSTL.
It reflects the capability of our scientists and manufacturing facilities and would go a long way in the Make
in India campaign.
sources: pib.
Paper 3 Topic: Effects of liberalization on the economy, changes in industrial policy and their
effects on industrial growth.
In the BOT framework a third party, delegates to a private sector entity to design and build infrastructure and to
operate and maintain these facilities for a certain period. During this period the private party has the responsibility
to raise the finance for the project and is entitled to retain all revenues generated by the project and is the owner
of the regarded facility. The facility will be then transferred to the public administration at the end of the concession
agreement, without any remuneration of the private entity involved.
However, in such projects the private entity bears a substantial part of the risk. Some types of the most common
risks involved:
Political risk: especially in the developing countries because of the possibility of dramatic overnight political
change.
Technical risk: construction difficulties, for example unforeseen soil conditions, breakdown of equipment.
Financing risk: foreign exchange rate risk and interest rate fluctuation, market risk (change in the price of
raw materials), income risk (over-optimistic cash-flow forecasts), cost overrun risk.
sources: bs, wiki.