Category: Economics Current Affairs

Oil Bonds: The Centre has argued that it cannot reduce taxes on petrol and diesel as it has to bear the burden of payments in lieu of oil bonds issued by the previous UPA government to subsidise fuel prices. Before fuel prices were deregulated, petrol and diesel as well as cooking gas and kerosene were […]

Financial Inclusion Index: The Reserve Bank of India has created a composite Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion across the country. The announcement regarding the creation of the Financial Inclusion Index was made in the first Bi-monthly Monetary Policy Statement for 2021-2022 on 17 April. The annual FI-Index for the […]

75 “Hunar Haat”: The Union Ministry of Minority Affairs has set a target to provide employment opportunities to 7 lakh 50 thousand artisans, craftsmen through 75 “Hunar Haat”. To be organised across the country, the 75 Haats will be a part of the ‘Amrit Mahotsav’ and will mark 75 years of India’s Independence. Also, 75 […]

Drug Trafficking In India: The anti-drug law enforcement agencies are suspecting a steep surge in cross-border trafficking of heroin and crystal methamphetamine with the rapid Taliban takeover in Afghanistan. Drugs have been a major source of revenue for the Taliban. With the collapse of Afghanistan’s economy, the Taliban will rely heavily on drug money to […]

UP’s Two-Child Policy: After reviewing over 8,000 suggestions from the public, the Uttar Pradesh State Law Commission has submitted a report and draft Bill of a new population control law (The Uttar Pradesh Population (Control, Stabilisation and Welfare) Bill, 2021) proposing two-child policy to the State government. Special facilities to all families (irrespective of the […]

Open Network For Digital Commerce (ONDC): The Union Minister of Commerce & Industry chaired a meeting for the review of the Open Network for Digital Commerce (ONDC) initiative of Department for Promotion of Industry and Internal Trade (DPIIT). ONDC is globally first-of-its-kind initiative that aims to democratise Digital Commerce, moving it from a platform-centric model […]

Open Acreage Licensing Programme: In an attempt to boost domestic hydrocarbon production, the petroleum and natural ministry launched the sixth bid round under the liberal Open Acreage Licensing Programme (OALP). Earlier, the Cabinet Committee on Economic Affairs (CCEA) approved the Policy framework on reforms in the exploration and licensing sector for enhancing domestic exploration and […]

Fugitive economic offender:   UK High Court has granted fugitive diamond merchant Nirav Modi permission to appeal against a magistrates’ court order, in favour of extradition to India to face charges of fraud and money laundering before the Indian courts, on mental health and human rights grounds. The U.K.’s Home Department, in April 2020, approved […]

The Monetary Policy: RBI: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept the key policy rate — Repo rate, or the RBI’s lending rate to banks — unchanged at four per cent for the seventh time in a row, and reverse repo rate — RBI’s borrowing rate from banks — […]

E-Prisons Project: The Ministry of Home Affairs (MHA) has provided financial assistance of Rs. 99.49 crores to the States and Union Territories (UTs) for the E-Prisons Project. Also, acting on the request of the MHA, NIMHANS, an Institute of National Importance, has recently issued a set of guidelines on the management of mental health issues […]