Scheme On Enhancement Of Competitiveness In The Indian Capital Goods Sector- Phase-II: Ministry of Heavy Industries (MHI) has notified the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector- Phase-II for providing assistance to Common Technology Development and Services Infrastructure. The scheme has a financial outlay of Rs. 1207 crores with Budgetary support […]
Category: Economics Current Affairs
Proposal for Setting Up a Bad Bank is Still Pending
Bad Bank: The Reserve Bank of India’s (RBI’s) approval for the implementation of the proposal for setting up a ‘Bad Bank’ is still pending. In September 2021, the Union Cabinet approved the Rs. 30,600 crore guarantee to back Security Receipts issued by National Asset Reconstruction Company Limited (NARCL) for acquiring stressed loan assets. NARCL & […]
Regional Rapid Transit System (RRTS)
Regional Rapid Transit System (RRTS): The officials of Regional Rapid Transit System (RRTS) estimated that RRTS will reduce CO2 emissions by taking around 1.5 lakh private vehicles off the road. The corridor will start from Sarai Kale Khan in Delhi, pass through Ghaziabad, and reach Modipuram in Meerut (Uttar Pradesh). The RRTS, the first of […]
Air India Formally Handed Over To Tata Group
Air India Now Formally Handed Over To Tata Group: The Union government has transferred its shares in Air India, along with control and management, to Tata Sons subsidiary, Talace, ending a disinvestment process that started five years ago. Tatas will get Air India’s fleet of 141 planes, along with ownership of iconic Brands like Air […]
Non-Fungible Tokens (NFTs)
Non-Fungible Tokens: French luxury fashion brand Hermès is suing American digital artist Mason Rothschild who created the MetaBirkins series of NFTs (Non-Fungible Tokens), a rapidly growing part of the cryptoworld. An NFT is a unique, irreplaceable token that can be used to prove ownership of digital assets such as music, artwork, even tweets and memes. […]
National Single Window System (NSWS)
National Single Window System (NSWS): The Minister of Commerce and Industry Shri Piyush Goyal has said simplicity of operations and transparency should be the focus of the National Single Window System (NSWS). The digital platform of NSWS facilitates investors to identify and apply for approvals. It supports information across 32 Central Ministries/ Departments and the […]
Online Storage Management (OSM)
Online Storage Management (OSM): The Department of Food and Public Distribution under Ministry of Consumer Affairs, Food and Public Distribution with its principal agency, FCI, has developed a roadmap to roll out Online Storage Management (OSM) in the country. The OSM envisages putting in place a single source of information for the food grains stored […]
Oil Prices Up: Brent Crude
Brent Crude: Oil prices are at their highest levels since 2014 — Brent crude hit $88.3 per barrel, up 27% since December 1, when it was trading at $69.5. The spike has been driven primarily by fears of supply side disruptions. The attack by Yemen’s Houthis on fuel trucks in Abu Dhabi, in which three […]
Indian Renewable Energy Development Agency Limited (IREDA)
Indian Renewable Energy Development Agency Limited (IREDA): The Cabinet Committee on Economic Affairs approved the equity infusion of Rs.1500 crore in Indian Renewable Energy Development Agency Limited (IREDA). This equity infusion will help in employment generation of approximately 10200 jobs-year and CO2 equivalent emission reduction of approximately 7.49 Million Tonnes CO2/year. Additional equity infusion of […]
National Technical Textiles Mission
National Technical Textiles Mission: The Ministry of Textiles cleared 20 strategic research projects worth Rs 30 crores in the areas of Specialty fibers and Geotextiles under the Programme ‘National Technical Textiles Mission.’ It was approved in 2020 by the Cabinet Committee on Economic Affairs (CCEA) with the aim to position the country as a global […]
