GST Compensation: The Centre will release ₹30,000 crore as GST compensation to States this month, from the compensation cess collections during the year. The pending compensation dues to States for 2020-21 are expected to be more than ₹77,000 crore. The GST Compensation Act, 2017 guaranteed States that they would be compensated for any loss of […]
Category: Economics Current Affairs
The Standing External Advisory Committee (SEAC) : RBI
The Standing External Advisory Committee (SEAC): RBI The Reserve Bank of India (RBI) has set up a five-member Standing External Advisory Committee (SEAC), headed by former RBI Deputy Governor Shyamala Gopinath, for evaluating applications for universal banks and Small Finance Banks (SFBs). The Standing External Advisory Committee (SEAC) will be comprising eminent persons with […]
Remission Of Duties And Taxes On Export Products (RODTEP) Scheme
Remission Of Duties And Taxes On Export Products (RODTEP) Scheme: The notification of benefit rates payable to exporters under the Remission of Duties and Taxes on Export Products (RODTEP) scheme, is expected to take more time as it is facing ‘teething issues. Exporters fear the rates may turn out to be lower than recommended by […]
What is Open Market Operations? Types
Open Market Operations: The Reserve Bank of India (RBI) has decided to conduct simultaneous purchase and sale of government securities (G-Sec) under Open Market Operations (OMOs) for an amount of Rs. 10,000 crore each. Simultaneous purchase and sale of government securities under OMOs, popularly known as operation twist, involves purchasing G-Sec of longer maturities and […]
Ration Cards Cancellation Case:
Ration Cards Cancellation Case: The Supreme Court has asked the Centre to respond to a plea related to the cancellation of over three-crore ration cards for not linking them to Aadhaar. Also, the SC has sought a report on the implementation of the grievances redressal mechanism. It is contained in Sections 14, 15, and 16 […]
Electoral Bonds:
Electoral Bonds:: Chief Justice of India agreed to urgently hear a plea by NGO Association for Democratic Reforms to stay the sale of a new set of electoral bonds on April 1, before the Assembly elections in crucial states such as West Bengal and Tamil Nadu. Arguments by petition: The Reserve Bank of India (RBI) […]
Wholesale Price Index (WPI) : February, 2021
Wholesale Price Index (WPI) For The Month Of February 2021: The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade has released the Wholesale Price Index (WPI) for the month of February 2021. Wholesale Price-Inflation: It increased for the second consecutive month to 4.17%. This is the highest since November 2018, […]
AICTE : Compulsory Subjects (PCM) Optional
The All India Council for Technical Education: Compulsory subject: The All India Council for Technical Education (AICTE) — the technical education regulator — has made Physics, Chemistry and Mathematics (PCM) optional for students who wish to pursue technical courses like biotechnology, textile or agriculture engineering at the undergraduate level. However, PCM remains mandatory for most […]
Bank Credit And Deposits Grew in Feb 2021 : RBI – Reasons
Bank Credit And Deposits grew: RBI: Recent data released by the Reserve Bank of India (RBI) showed that Bank credit and deposits grew and were higher in February 2021 than January 2021. The credit and deposits for February 2021 were even higher than the pre-pandemic data of February 2020. Bank by RBI: At the end […]
India’s Foreign Exchange Reserves : Fourth Largest
India’s Foreign Exchange Reserves: India’s foreign exchange reserves now world’s fourth-largest: India’s foreign exchange reserves surpass Russia’s to become the world’s fourth-largest. India’s reserves, enough to cover roughly 18 months of imports, have been bolstered by a rare current-account surplus, rising inflows into the local stock market, and foreign direct investment. India’s foreign currency holdings […]
