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National Handloom Day

In News Every year August 7 is observed as the National Handloom Day in India to highlight the contribution of the handloom industry in socio-economic development and create awareness about the sector. History Swadeshi Movement The handloom sector played an important role during the Swadeshi Movement, which was launched as part of the Indian independence […]

India’s climate change goals

Context  Recently the Union Cabinet approved India’s Nationally Determined Contributions (NDC) ahead of the 27th Conference of the Parties of the UNFCCC (COP 27)in  Egypt.  About   India’s first pledge, also known as a Nationally Determined Contribution (NDC), had three primary targets.  To reduce the emissions intensity of the economy by 33–35 percent below 2005 levels.  […]

Ocean Thermal Energy Conversion plant (OTEC)

In Context Ocean thermal energy conversion plant coming up in Lakshadweep. About Ocean Thermal Energy Conversion plant (OTEC) Ministry: The National Institute of Ocean Technology, an autonomous institute under the Union Ministry of Earth Sciences (MoES) is establishing an Ocean Thermal Energy Conversion plant. Location: It is being established in Kavaratti, the capital of Lakshadweep. […]

Carbon Market

In News Recently, a Bill to amend a 20-year law, the Energy Conservation Act 2001, was introduced in Parliament. About  The Energy Conservation (Amendment) Bill, 2022, seeks to mandate: Use of non-fossil sources, including biomass and ethanol for energy and feedstock Use of green hydrogen and green ammonia. Objectives:  To make it compulsory for a […]

RBI’s hawkish stance

In News Recently, the Monetary Policy Committee (MPC) of the Reserve Bank of India hiked the policy repo rate by 50 basis points to 5.4 per cent, a three-year high owing to inflation concern. What is the Dovish and Hawkish View of Monetary Policy? Dovish View of Monetary Policy Doves support the idea of low-interest […]

Suspect Beneficiaries under the National Food Security Act

In News Recently, the Union government has found that 70 lakh beneficiaries under the National Food Security Act (NFSA) are suspect. Key Points Very recently, a similar exercise has been done and around 70 lakh beneficiaries have been found to be suspected and now that data has been again pushed to respective states to do […]

Analysis of the Financial Stability Report

In News  Recently, Reserve of Bank of India (RBI) released Financial Stability Report (FSR) Financial Stability Report (FSR) It  is published biannually and includes contributions from all the financial sector regulators.  Accordingly, it reflects the collective assessment of the Sub Committee of the Financial Stability and Development Council (FSDC-SC) on risks to stability of the […]

London Interbank Offered Rate (LIBOR)

In News  (LIBOR) rose for the fourth straight session, rising roughly 2.5 basis points to 2.83229%, the highest since November 2008.  What Is London Interbank Offered Rate (LIBOR)? It is a benchmark interest rate at which major global banks lend to one another in the international interbank market for short-term loans. It serves as a […]

Anti-Tank Guided Missiles (ATGM)

In News Recently, Indigenously developed Laser-Guided Anti-Tank Guided Missiles (ATGM) were successfully test-fired from Main Battle Tank (MBT) Arjun. More about Anti-Tank Guided Missiles (ATGM) About: It is a guided missile primarily designed to hit and destroy heavily armored military vehicles.  Sizes: ATGMs range in size from shoulder-launched weapons, which can be transported by a […]

External Sector Report 2022: IMF

In News Recently, the IMF released its 2022 External Sector Report. Major highlights/ recommendations of the report Fiscal and monetary policy stimulus The International Monetary Fund (IMF) suggested India withdraw fiscal and monetary policy stimulus gradually. Economic stimulus is action by the government to encourage private sector economic activity by engaging in targeted, expansionary monetary […]

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