IndiaXports 2021 Portal: Union Minister for MSMEs virtually inaugurated the India Export Initiative and IndiaXports 2021 Portal of India SME Forum in New Delhi. IndiaXports aims to orient MSMEs free of cost, with the objective of focussing on the untapped export potential in existing tariff lines and supporting MSMEs in order to grow the number […]
Category: Economics Current Affairs
Defence Acquisition Council (DAC)
Defence Acquisition Council (DAC): The Defence Acquisition Council (DAC) in its meeting of 29 September 2021 held under the Chairmanship of Raksha Mantri Shri Rajnath Singh accorded Acceptance of Necessity (AoN) for Capital Acquisitions proposals for modernization and operational needs of the Indian Armed Forces amounting to approx. Rs.13,165 cr. Of the total amount approved, […]
Production-Linked Incentive (PLI) Scheme for Textile
Production-Linked Incentive (PLI) Scheme: The Government has launched the Production-Linked Incentive (PLI) scheme for the textiles sector worth Rs 10,683 crore. This is part of a larger PLI scheme for 13 sectors, with a total budgetary outlay of 1.97 lakh crore. The PLI scheme for textiles aims to promote the production of high value Man-Made […]
Export Credit Guarantee Corporation (ECGC)
Export Credit Guarantee Corporation (ECGC): The Union Cabinet has approved capital infusion in the Export Credit Guarantee Corporation (ECGC) and its listing through an initial public offering. The government will inject Rs 4,400 crore in the ECGC over a period of five years beginning 2021-22. The Cabinet also approved continuation of the National Export Insurance […]
Ordnance Factory Board (OFB)
Ordnance Factory Board (OFB): The Defence Ministry has issued an order for the dissolution of the Ordnance Factory Board (OFB) with effect from October 1 upon which its assets, employees and management would be transferred to seven newly constituted defence public sector undertakings (DPSUs). This would mean the end of the OFB, the establishment of […]
Government Borrowings: 2021
Government Borrowing: The government will borrow Rs 5.03 lakh crore in the second half of the current fiscal to fund the revenue gap for reviving the pandemic-hit economy. During the first half, the government has raised Rs 7.02 lakh crore by issuing bonds. The government raises money from the market to fund its fiscal deficit […]
Meghalaya Enterprise Architecture Project (MeghEA)
Meghalaya Enterprise Architecture Project (MeghEA): Meghalaya Enterprise Architecture Project (MeghEA) was launched. The project aims to improve service delivery and governance for the people using the power of Digital technologies. Enterprise Architecture (EA) is the process by which organizations standardize and organize IT (Information Technology) infrastructure to align with business goals. The initiative is spread […]
Micro Food Processing Enterprises (PMFME) Scheme
Micro Food Processing Enterprises (PMFME) Scheme: The Ministry of Food Processing Industries in association with the Ministry of Housing and Urban Affairs, under the Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) Scheme, virtually launched the Seed Capital Module. It was launched on Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM) MIS Portal for seed […]
All-India Quarterly Establishment-Based Employment Survey
All-India Quarterly Establishment-Based Employment Survey: The All-India Quarterly Establishment-based Employment Survey, in a report released recently said that the overall employment numbers had increased by 29% from the base year of 2013-14. However, in the first quarter of this fiscal (April-June 2021), 27% of the establishments surveyed reported pandemic-related retrenchment. The report, released by Labour […]
What Are Stablecoins?
What Are Stablecoins? The US is discussing launching a formal review into whether Tether and other stablecoins threaten financial stability. The first stablecoin, created in 2014, was Tether. A stablecoin is a type of cryptocurrency that is typically pegged to an existing government-backed currency. A cryptocurrency is a form of digital asset based on a […]
