Government Security Acquisition Programme (G-SAP) 1.0: The Reserve Bank of India (RBI) has put in place a secondary market Government Security Acquisition Programme (G-SAP) 1.0 for orderly evolution of the yield curve in FY22. Under the programme, the central bank will purchase government bonds of worth Rs 1 trillion (or one lakh crores of rupees). […]
Category: Economics Current Affairs
What is Indian Energy Exchange (IEX)?
Indian Energy Exchange (IEX): The electricity market at Indian Energy Exchange (IEX) achieved an all-time high volume of 8,248.52 MU (million units) in the month of March 2021 surpassing all the previous milestones. It is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable […]
DCEP : New Digital Currency of China
New Digital Currency: China: China in February launched the latest round of pilot trials of its new digital currency, with reported plans of a major roll-out by the end of the year and ahead of the Winter Olympics in Beijing in February 2022. Officially titled the Digital Currency Electronic Payment (DCEP), the digital RMB (or […]
HSN Code Now Mandatory
Harmonized System of Nomenclature Code: It has been made mandatory for a GST taxpayer having a turnover of more than Rs 5 crore in the preceding financial year, to furnish 6 digits HSN Code (Harmonized System of Nomenclature Code). This comes into effect from April 1. Harmonised System, or simply ‘HS’: It is a six-digit […]
Emergency Credit Line Guarantee Scheme (ECLGS) : Extended Credit
Emergency Credit Line Guarantee Scheme (ECLGS): The government has extended the Rs. 3-lakh-crore Emergency Credit Line Guarantee Scheme (ECLGS) until 30th June 2021, and also widened its scope to new sectors, including hospitality, travel, and tourism. ECLGS was rolled out in May 2020 as part of the Centre’s Atmanirbhar package in response to the Covid-19 […]
HSN Code and SAC Code
Harmonised System Of Nomenclature HSN Code, Or Service Accounting Code, SAC: The government has made it mandatory that a GST taxpayer having turnover of more than 5 crore rupees in the preceding financial year will have to furnish 6 digits Harmonised System of Nomenclature HSN Code, or Service Accounting Code, SAC from April 1, 2021, […]
India’s Trade Deficit : Reasons
India’s Trade Deficit: Preliminary data released by the government showed that India’s trade deficit in goods widened to USD 14.11 billion in March 2021 from USD 9.98 billion during March 2020. Merchandise Exports: India’s merchandise exports in March 2021 were USD 34.0 billion as compared to USD 21.49 billion in March 2020, an increase of […]
MyNEP2020 Web Portal : Important Points
MyNEP2020: Union Education Minister launched the “MyNEP2020” Platform of NCTE Web Portal. The platform seeks to invite suggestions from the stakeholders for preparing a draft for the development of National Professional Standards for Teachers (NPST) and National Mission for Mentoring Program membership (NMM). The “MyNEP2020” platform will be operational from 1st April 2021 to 15th […]
Small Savings Instruments For The First Quarter Of 2021-22
Small Savings Instruments For The First Quarter Of 2021-22: The government has sharply slashed the rates on all small savings instruments for the first quarter of 2021-22. It has brought the rate of return on the Public Provident Fund down from 7.1% to 6.4% and effecting cuts ranging from 40 basis points (0.4%) to 110 […]
Emergency Credit Line Guarantee Scheme (ECLGS) 3.0
Emergency Credit Line Guarantee Scheme (ECLGS) 3.0: In recognition of the continuing adverse impact of the COVID-19 pandemic on certain service sectors, the Government has now extended the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) through the introduction of ECLGS 3.0. ECLGS 3.0 will cover business enterprises in Hospitality, Travel & Tourism, Leisure […]
