In Context The budget outlines different priorities for taking along all sections on the path of development. Focus Sectors Here, special attention is being paid to Agriculture & allied sectors and MSMEs to ensure that they are not left behind on the road to development. Agriculture: The focus is on providing support to the farmers […]
In News The Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs has been extended till March 2023 along with an enhanced guarantee cover by Rs 50,000 crore to take the total limit of the scheme to Rs 5 lakh crore from Rs 4.5 lakh earlier. About ECLGS has provided the much-needed additional credit to more […]
In News In a move to enhance exports, the government will rewrite a new law to replace the existing Special Economic zones (SEZ) Act. Objectives and need The current legislation is over 16 years old and the legislation was framed under different circumstances and a lot has changed since then. Rules are complicated and there […]
In News A new scheme, Prime Minister’s Development Initiative for North-East( PM-DevINE) was announced by the Union Minister for Finance & Corporate Affairs while presenting the Union Budget 2022-23. About PM-DevINE It will be implemented through the North-Eastern Council. North-Eastern Council (NEC) is the statutory body established after amending the North-Eastern Council Act, 1971 in […]
In News As per the Economic Survey 2021-2022, the ethanol supply in the country to enable blending with petrol is likely to reach 302 crore litres by the end of Ethanol Supply Year (ESY) 2020-2021. About The government has been promoting the use of ethanol as a blend stock with main automotive fuel like petrol […]
In News In the 2022 Budget, the Finance Minister announced the launch of the Digital Rupee — a central bank digital currency (CBDC) — 2022-23 onwards. About Central Bank Digital Currency (CBDC) Definition: CBDC is a legal tender issued by a central bank in a digital form. It is sovereign currency in an electronic form […]
In News Recently, Finance minister Nirmala Sitharaman on February 1 presented a budget worth Rs 39.45 lakh crore with massive push to infrastructure spending. Union Budget of India According to Article 112 of the Indian Constitution, the annual financial statement of a year is a statement of the estimated receipts and expenditure of the government […]
In Context State Bank of India believes the stage is set for a Reverse Repo Normalisation in India. What is reverse repo and how does it fit into policy normalisation? Repo Rate: The (fixed) interest rate at which the Reserve Bank provides overnight liquidity to banks against the collateral of government and other approved securities […]
In News Recently, the Union Minister for Finance & Corporate Affairs presented the Economic Survey 2021-22 in the Parliament. What is the Economic Survey? It is an annual document prepared by the Department of Economic Affairs, the Ministry of Finance under the guidance of the Chief Economic Advisor. It is regarded as the official report […]
In News Recently, A new genus of a parasitic flowering plant(Septemeranthus ) has been discovered from the Nicobar group of islands. Image Courtesy: TH About The genus, Septemeranthus, grows on the plant species Horsfieldia glabra(Blume) Warb. The parasitic flowering plants have a modified root structure spread on the stem of the tree and are anchored […]
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