Post Devolution Revenue Deficit (PDRD) Grant: Ministry of Finance has released the monthly Post Devolution Revenue Deficit (PDRD) Grant of 9, 871 crore rupees to 17 States. This was the 11th installment of the PDRD grant released to the States. Ministry of Finance said that the grants are released to the States as per […]
Category: Economics Current Affairs
What are Green Bonds? Union Budget 2022
Green Bonds: Finance Minister Nirmala Sitharaman in her Budget speech announced that the government proposes to issue sovereign green bonds to mobilise resources for green infrastructure. The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy. Now, the government has clarified that these rupee-denominated papers […]
What is the Blue Economy? Promoting Blue Economy
Promoting Blue Economy: The union minister of science and technology and earth science said that the Blue Economy is the sixth dimension of Government of India’s Vision of New India by 2030. A Draft Policy document on Blue Economy has been prepared by the Ministry Of Earth Sciences taking into consideration the reports of […]
What are Surety Bonds?
Surety Bonds: In the Budget 2022-23, the government has allowed the use of surety insurance bonds as a substitute for bank guarantees in case of government procurement and also for gold imports. Insurance Regulatory and Development Authority of India (IRDAI) has also released final guidelines to ensure orderly development of surety insurance business in […]
Increase in Coal Demand
Increasing Coal Demand: The demand for coal in the country is expected to be in the range of 1.3-1.5 billion tonnes by 2030, according to Economic Survey 2021-2022, despite the push for renewable energy. This is an increase of 63% from the current (2019-2020) demand of 955.26 million tonnes. Iron and steel production uses […]
EXIM Bank
EXIM Bank: EXIM Bank has extended a line of credit (LOC) of USD 500 million to Sri Lanka for financing the purchase of petroleum products. EXIM Bank Established under Export-Import Bank of India Act (1981). It is a wholly owned Govt. of India entity. It extends LOCS to overseas financial institutions, regional development banks, […]
Emergency Credit Line Guarantee Scheme (ECLGS)
Emergency Credit Line Guarantee Scheme (ECLGS): The Emergency Credit Line Guarantee Scheme (ECLGS) will be extended to cover the next fiscal as well, with expanded guarantee cover of Rs 5 lakh crore, Finance Minister Nirmala Sitharaman said in her budget presentation. An additional guarantee amount of Rs 50,000 crore has been announced for the […]
Draft National Higher Educational Qualification Framework (NHEQF): UGC
Draft National Higher Educational Qualification Framework (NHEQF): UGC The University Grants Commission (UGC) has released a Draft National Higher Educational Qualification Framework (NHEQF) as a part of the National Education Policy (NEP) 2020 to assess students at different levels. The NEP 2020 aims at making “India a global knowledge superpower”. Given the size of the […]
Digital Rupee: Union Budget 2022 Updates
Digital Rupee: Union Budget Finance Minister Nirmala Sitharaman has announced the launch of the Digital Rupee — a central bank digital currency (CBDC) — 2022-23 onwards. The Reserve Bank of India will launch the CBDC from the upcoming financial year. A Central Bank Digital Currency (CBDC), or national digital currency, is simply the […]
What is Reverse Repo Normalisation?
Reverse Repo Normalisation In India: In a recent report, State Bank of India has stated that it believes the stage is set for a Reverse Repo Normalisation in India. The Repurchase agreement (Repo) and the Reverse repo agreement are two key tools used by the Reserve Bank of India (RBI) to control the money supply. […]
