O-SMART scheme

o smart schemes

Question-Which cabinet committee has given its approval for O-SMART scheme?
(a)Cabinet committee on economic affairs
(b)Cabinet committee on political affairs
(c)Cabinet committee on security
(d)Cabinet committee on investment
Answer-(a)
Related facts-

  • On 29 August 2018, The Cabinet Committee on Economic Affairs has given its approval for O-SMART scheme.

About O-SMART scheme-

  • It is an umbrella scheme.
  • O-SMART stands for, “Ocean Services, Technology, Observations, Resources Modelling and Science”.
  • It isimplemented during the period from 2017-18 to 2019-20 at an overall cost of 1623 crore.
  • The scheme consists of 16 sub-projects addressing ocean development activities such as Services, Technology, Resources, Observations and Science. 

Benefits of this scheme-

  • It will help in harnessing both living and non-living resources from the seas around India.
  • It will help in dealing with the ocean disasters like cyclone, tsunami, and storm surges with the help of early warning system established under O-SMART scheme.
  • O-SMART will help in addressing issues relating to Sustainable Development Goal-14, which aims to conserve use of oceans, marine resources for sustainable development.
  • This scheme will provide economic benefits to a number of user communities in the coastal and ocean sectors, i.e., fisheries, offshore industry, coastal states, Defence, Shipping, Ports etc.
  • This scheme (O-SMART) also provides necessary scientific and technological background required for implementation of various aspects of “Blue Economy”.

Blue economy-

  • The blue economy is sustainable use of ocean resources for economic growth, improved livelihoods and jobs, and ocean economic health.
  • It encompasses many activities-
  • Renewable energy.
  • Waste management.
  • Maritime transport.
  • Climate change.

References-                 
http://www.worldbank.org/en/news/infographic/2017/06/06/blue-economy
http://pib.nic.in/newsite/PrintRelease.aspx?relid=183117