Maratha Reservation Struck Down: SC: A five-judge Constitution Bench of the Supreme Court has struck down the Maharashtra law granting reservation to the Maratha community in admissions and government jobs in the state. In November 2018, the Maratha community was given the reservation under the Maharashtra State Socially and Educational Backward Act. The special act […]
Category: Economics Current Affairs
IDBI Bank Disinvestment
IDBI Bank Ltd: The Cabinet Committee on Economic Affairs has given its in-principle approval for strategic disinvestment along with transfer of management control in IDBI Bank Ltd. The extent of respective shareholding to be divested by GoI and LIC shall be decided at the time of structuring of the transaction in consultation with RBI. The […]
Pradhan Mantri Mudra Yojana
Pradhan Mantri Mudra Yojana: More than 28.68 crore loans for an amount of Rs. 14.96 lakh crore has been sanctioned by banks, NBFCs, and MFIs since the launch of Pradhan Mantri Mudra Yojana (PMMY). About Pradhan Mantri Mudra Yojana (PMMY): It was launched by the government in 2015 for providing loans up to Rs. 10 […]
What is Purchasing Managers Index?
Purchasing Managers Index: The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) was at 55.5 in April 2021, little changed from March’s reading of 55.4. It is a survey-based measure that asks the respondents about changes in their perception of key business variables as compared with the previous month. The purpose of the […]
What are Small Savings Instruments
Small Savings Instruments: The central government withdrew its orders of reducing the rates on all small savings instruments/schemes. Small savings instruments help individuals achieve their financial goals over a particular period. They are the major source of household savings in India. The small savings instrument basket comprises 12 instruments. Collections from all small savings instruments […]
Network For Greening The Financial System (NGFS)
Reserve Bank Of India Joined The Network For Greening The Financial System (NGFS): The Reserve Bank of India (RBI) joined the Network for Greening the Financial System (NGFS). The RBI expects to benefit from the membership of NGFS by learning from and contributing to global efforts on climate finance, which has assumed significance in the […]
Core Sector Output: Grew By 6.8% In March 2021
Core Sector Output:: The eight-core sectors grew by 6.8% in March 2021 (the highest in 32 months), after a 3.8% dip in February, but the spike was largely due to the base effects from March 2020. During 2020-21 (April-March), the output of the eight sectors contracted by 7% as against a positive growth of 0.4% […]
Relief Measures For Taxpayers Under GST
Relief Measures For Taxpayers Under GST: In view of the corona pandemic, the government has announced various relief measures for taxpayers under GST law including a reduction in the interest rate and waiving of late fees. The Finance Ministry has issued a notification in this regard. A lower rate of interest of 9 percent for […]
Meeting Of Foreign Ministers Of G7 Countries
Meeting Of Foreign Ministers Of G7 Countries: External Affairs Minister S Jaishankar will embark on a four-day visit to London to participate in a meeting of foreign ministers of G7 countries. India has been invited to the meeting as a guest country. The G-7 or ‘Group of Seven’ are Canada, France, Germany, Italy, Japan, the […]
Scheme of Financial Assistance to States for Capital Expenditure
Scheme of Financial Assistance to States for Capital Expenditure: The Ministry of Finance, Government of India has decided to provide an additional amount of up to Rs. 15,000 crore to States as interest-free 50-year loan for spending on capital projects. The Department of Expenditure has issued fresh guidelines in this regard on the “Scheme of […]
