UPSC PRELIMS & MAINS
Asian Infrastructure Investment Bank (AIIB):
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank headquartered in Beijing, China. It was established with a mission to improve the economic and social outcomes in Asia. India is AIIB’s second-largest shareholder after China. The bank will complete 5 years in January 2021.
- India is one of the largest beneficiaries of AIIB financing for infrastructure projects.
- AIIB has supported around $5billion worth of projects in India.
- It is supporting unique projects, including:
- The Chennai Metro Corridors 4 and 5.
- Chennai Peripheral Ring Road.
- The Grand Anaicut scheme to modernise the canal system in the Cauvery delta region which is being prepared with the government of Tamil Nadu.
- It would help save almost 20% of water leakages.
- The Delhi-Meerut Regional Rapid Transit is being co-financed with the Asian Development Bank.
Parliamentary Committee System in India:
- Over the years, the Indian Parliament has increasingly resorted to the committee system.
- The system is followed for various reasons such as
- To enhance the efficacy of the House to cope with the technical issues confronting it.
- To keep the parliament abreast to exercise accountability on the government.
- Some committees such as the Estimates Committee and Public Accounts Committee (dating back to the colonial period) have a commendable record in this regard.
- Besides the standing committees, the Houses of Parliament set up, from time to time, ad hoc committees to enquire and report on specific subjects which include Select Committees of a House or Joint Select Committees of both the Houses that are assigned the task of studying a Bill closely and reporting back to the House.