Asset Reconstruction Company: In the Budget 2021-22, Asset Reconstruction Company (ARC) has been proposed to be set up by state-owned and private sector banks, and there will be no equity contribution from the government. The ARC, which will have an Asset Management Company (AMC) to manage and sell bad assets, will look to resolve stressed […]
Category: Economics Current Affairs
New Amendments to The Companies Rules 2021: Key points
Amendment of The Companies Rules: The ministry of corporate affairs (MCA) has amended the definition of small companies by amending the Companies Rules. The new amendment allows the non-resident Indians (NRIs) to incorporate one-person companies (OPCs) in India. The changes were announced by finance minister Nirmala Sitharaman during the presentation of the Union Budget. These […]
Foreign Contribution (Regulation) Act, 2010 : New Guidelines to Banks
Foreign Contribution (Regulation) Act, 2010: The Ministry of Home Affairs (MHA) issued new regulating guidelines to banks under Foreign Contribution (Regulation) Act, 2010. It states that the donations received in Indian rupees by non-governmental organizations (NGOs) and associations from any foreign source (even if that source is located in India at the time of such […]
Union Budget 2021 : Key Points | Highlights
Budget 2021: Finance Minister Nirmala Sitharaman said that the Budget proposals for this financial year rest on six pillars — health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation, and R&D, and ‘Minimum Government, Maximum Governance’. Significant announcements included a slew of hikes in customs duty […]
14 Minor Forest Produce Items Included Under MSP Scheme
14 Minor Forest Produce Items Included Under MSP Scheme: Highlights: This new mechanism will help to provide remunerative and fair prices to tribal gatherers of forest produces. The items which have been included in the scheme include- Tasar Cocoon, bamboo shoot, elephant apple dry, wild dry mushroom and malkangani seed. Minimum Support Price (MSP) […]
Reasons for High Fiscal Deficit in 2019-20
Increased Fiscal Deficit: The government’s fiscal deficit has increased to Rs. 11.58 lakh crore or 145.5% of the Budget Estimate (BE) at the end of December 2020 (accounting for the first nine months of the year 2020-21) mainly on account of lower revenue realisation. Key Points: Fiscal Deficit Target Fixed for 2020-21: The Centre had […]
15th Finance Commission’s Final Report
15th Finance Commission’s Final Report: The Fifteenth Finance Commission of India have submitted its final report for a five-year duration. The report has been submitted with the objective of transforming the financial governance of India’s municipalities. The interim report for Financial Year 2020-21 was tabled in Parliament along with Budget 2020-21. The final report for […]
Economic Survey 2020-21 – KeyPoints
Economic Survey 2020-21: Highlights Agriculture: The Agriculture and Allied activities showed a growth of 3.4 percent at constant prices during 2020-21 (first advance estimate) says the Economic Survey 2020-21. As per the Provisional Estimates of National Income released by CSO on 29th May 2020, the share of Agriculture and Allied Sectors in Gross Value Added […]
NCAVES India Forum 2021 : Highights
NCAVES India Forum 2021: Organized by the Ministry of Statistics and Programme Implementation (MoSPI). Natural Capital Accounting and Valuation of the Ecosystem Services (NCAVES) India Forum-2021 is a part of NCAVES project of United Nations Statistics Division (UNSD). It aims to help five countries for addressing the concerns of sustainability and conserving the environment for […]
Cryptocurrency And Regulation Of Official Digital Currency Bill, 2021 : Highlights
Cryptocurrency And Regulation Of Official Digital Currency Bill, 2021: The Budget session of Parliament is likely to consider this bill, which prohibits all private cryptocurrencies and provides for an official digital currency to be issued by the Reserve Bank of India. The purpose of the law has been described as: to create a facilitative framework […]
