Category: Economics Current Affairs

What Is ‘tulip mania’?   A week after budget 2022-23 proposed 30 per cent tax on gains made from cryptocurrency trades, Reserve Bank of India (RBI) governor Shaktikanta Das termed it as a “threat to macroeconomic and financial stability”. Tulip mania was a period when tulips were recently introduced and bought in large quantities by […]

National Single Window System (NSWS):   In a historic achievement, Jammu & Kashmir became the first Union Territory to be onboarded the National Single Window System (NSWS). This marks a major leap in Ease of Doing Business (EoDB) in the Union Territory. Lieutenant Governor Shri Manoj Sinha launched the J&K Single Window Clearance System integrated […]

PM CARES Fund:   The PM CARES Fund collected ₹10,990 crore since its inception in March 2020 until March 2021. It spent ₹3,976 crore during the 2020-21 financial year, according to the audited financial statement posted on its website. As on March 31, 2021, the Fund had an unspent balance of ₹7,044 crore. The Fund […]

Post Devolution Revenue Deficit (PDRD) Grant:   Ministry of Finance has released the monthly Post Devolution Revenue Deficit (PDRD) Grant of 9, 871 crore rupees to 17 States. This was the 11th installment of the PDRD grant released to the States. Ministry of Finance said that the grants are released to the States as per […]

Green Bonds:   Finance Minister Nirmala Sitharaman in her Budget speech announced that the government proposes to issue sovereign green bonds to mobilise resources for green infrastructure. The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy. Now, the government has clarified that these rupee-denominated papers […]

Promoting Blue Economy:   The union minister of science and technology and earth science said that the Blue Economy is the sixth dimension of Government of India’s Vision of New India by 2030. A Draft Policy document on Blue Economy has been prepared by the Ministry Of Earth Sciences taking into consideration the reports of […]

Surety Bonds:   In the Budget 2022-23, the government has allowed the use of surety insurance bonds as a substitute for bank guarantees in case of government procurement and also for gold imports. Insurance Regulatory and Development Authority of India (IRDAI) has also released final guidelines to ensure orderly development of surety insurance business in […]

Increasing Coal Demand:   The demand for coal in the country is expected to be in the range of 1.3-1.5 billion tonnes by 2030, according to Economic Survey 2021-2022, despite the push for renewable energy. This is an increase of 63% from the current (2019-2020) demand of 955.26 million tonnes. Iron and steel production uses […]

EXIM Bank:   EXIM Bank has extended a line of credit (LOC) of USD 500 million to Sri Lanka for financing the purchase of petroleum products. EXIM Bank Established under Export-Import Bank of India Act (1981). It is a wholly owned Govt. of India entity. It extends LOCS to overseas financial institutions, regional development banks, […]

Emergency Credit Line Guarantee Scheme (ECLGS):   The Emergency Credit Line Guarantee Scheme (ECLGS) will be extended to cover the next fiscal as well, with expanded guarantee cover of Rs 5 lakh crore, Finance Minister Nirmala Sitharaman said in her budget presentation. An additional guarantee amount of Rs 50,000 crore has been announced for the […]