15 Percent Agricultural Cess Removed By Government: The government has removed the 15 per cent agriculture cess ,also called Agriculture infrastructure and development cess (AIDC) on imports of LPG, liquified propane, and liquified butane starting from September 1. This exemption reverses the previous imposition of the agriculture cess on these goods in July It is […]
Category: Economics Current Affairs
Global Environment Facility (GEF)
Global Environment Facility (GEF): The Global Biodiversity Framework Fund (GBFF) was ratified and launched at the Seventh Assembly of the Global Environment Facility (GEF) held recently. Governments, non-profits, and the private sector can now contribute their funds to GBFF. This will ensure that the world meets the goals and targets of the Kunming-Montreal Global Biodiversity […]
Insurance Surety Bonds
Insurance Surety Bonds: The National Highways Authority of India (NHAI) organised a brainstorming session with stakeholders to expedite the adoption of Insurance Surety Bonds for its contracts. Insurance Surety Bonds can be defined in their simplest form as a written agreement to guarantee compliance, payment, or performance of an act. These are instruments where insurance […]
Project AMBER
Project AMBER: The Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Generation India Foundation (GIF) and Amazon Web Services India Private Limited (AWS India), is providing ‘cloud’ skills training to 1,500 under project AMBER. The Accelerated Mission for Better Employment and Retention (AMBER) project is a joint initiative of the National Skill Development […]
Gabon Announced Debt-For-Nature Swap Deal
Gabon Announced Debt-For-Nature Swap Deal: Gabon announced a $500 million debt-for-nature swap deal for marine conservation. Gabon on August 15, 2023, announced a $500 million debt-for–nature swap. This is the world’s second-largest deal signed under blue bond to refinance the country’s debt and conserve marine resources. Blue bonds: financial instruments that are designed to support […]
Floating Interest Rate : RBI
Floating Interest Rate : RBI The Reserve Bank of India (RBI) recently issued detailed guidelines to reset floating-interest rates on Equated Monthly Instalments (EMI)-based personal loans. Floating Interest Rate is an interest rate that changes periodically. The rate of interest moves up and down, or “floats,” reflecting economic or financial market conditions. A floating interest […]
Centralized Public Grievance Redressal And Monitoring System
Centralized Public Grievance Redressal And Monitoring System: The Department of Administrative Reforms and Public Grievances (DARPG) released the Centralized Public Grievance Redressal and Monitoring System (CPGRAMS) 12th monthly report for States for July, 2023. DARPG has integrated the AI based language tool, Bhashini with the CPGRAMS portal. This integration would facilitate the Grievance Redressal Officers […]
Decisions Of Monetary Policy Committee
Decisions Of Monetary Policy Committee: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has recently opted to maintain the policy repo rate at 6.5%, while simultaneously revising its projection for retail inflation in the current fiscal year (2023-24). Additionally, a temporary 10% Incremental Cash Reserve Ratio (I-CRR) is imposed on banks […]
Remittances : India Status
Remittances : India Status Remittances to India surged by 26% to reach approximately $112 billion in FY23, marking a significant increase from the approx $89 billion recorded in FY22. This growth in remittances reflects the heightened demand for Indian professionals globally following the pandemic. Remittances are funds sent by migrants to their families and friends […]
Index Of Industrial Production
Index Of Industrial Production: India’s Index of Industrial Production in India declined to a three-month low of 3.7 per cent in June, mainly due to poor showing by the manufacturing sector. It is one of the Prime indicators of economic development for the measurement of trends in the behavior of Industrial Production over a period […]
