What Is a Bad Bank? The Ministry of Finance has announced that the National Asset Reconstruction Company (NARCL) along with the India Debt Resolution Company (IDRCL) will take over the first set of bad loans from banks and try to resolve them. The health of the balance sheets of Indian banks has improved significantly over […]
Category: Economics Current Affairs
Single Nodal Agency (SNA) Dashboard
Single Nodal Agency (SNA) Dashboard: Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman launched the Single Nodal Agency (SNA) Dashboard during the Iconic Week Celebrations of Azadi Ka Amrit Mahotsav celebrations of Ministry of Finance, in New Delhi. The Ministry of Finance & Ministry of Corporate Affairs’ Iconic Week celebrations from 6th June […]
Stagflation
Stagflation: Authorities worldwide, particularly central bankers, foresaw a period in the near future “where growth is low, unemployment is at least up a little bit and inflation is still high”, adding, “So you could call that stagflation”. The most difficult problem for policymakers is when inflation runs high even as economic output either stagnates or, […]
What Is a Green Bond?
What Is a Green Bond? India is likely to face an uphill battle if it goes ahead with its first sovereign green bond sale as it aims to issue the securities in rupees, putting off most overseas investors. The timing might not be ideal for India though, especially for a rupee issuance. The currency has […]
Government-e-Marketplace (GeM)
Government-e-Marketplace (GeM): The Union Cabinet cleared a proposal allowing cooperatives to sell products on the Government-e-Marketplace (GeM) platform in a transparent manner. The move will benefit 27 crore people associated with 8.5 lakh cooperatives. The micro and medium small industries will get buyers and it will boost the prospects of “Vocal for local” and Atma […]
Gig Workers
Gig Workers: Concerned at the lack of job and social security among gig and platform workers, the Centre has decided to train officials of the Union and State governments on technological change, new forms of employment, working conditions and mechanisms to protect labour and social security rights of these workers. Gig workers are independent contractors, […]
India’s Textiles Exports In FY 2021-22
India’s Textiles Exports In FY 2021-22: India scaled its highest ever exports tally at US$ 44.4 Bn in Textiles and Apparel (T&A) including Handicrafts in FY 2021-22, indicating a substantial increase of 41% and 26% over corresponding figures in FY 2020-21 and FY 2019-20, respectively. USA was the top export destination accounting for 27% share, […]
India’s Gross Domestic Product (GDP) Growth Slowed
India’s Gross Domestic Product (GDP) Growth Slowed: India’s gross domestic product (GDP) growth slowed to a four-quarter low of 4.1% during the January-March period, from 5.4% in the preceding quarter, as manufacturing output shrank, provisional national income estimates show. As a result, full-year growth came in at 8.7% — a tad lower than the […]
Privatisation Of Public Sector Bank
Privatisation Of Public Sector Bank: The government is in the process of taking ‘advanced action’ to take forward the privatisation of public sector banks, top finance ministry officials asserted. In the Union Budget for 2021-22, Union Finance Minister had announced privatisation of two PSBs besides IDBI Bank. However, this year’s Budget Speech had skipped the […]
Prime Minister’s Employment Generation Programme
Prime Minister’s Employment Generation Programme: The Ministry of Micro, Small and Medium Enterprises has approved the extension of the Prime Minister’s Employment Generation Programme (PMEGP) for five years till FY26. The PMEGP has now been approved for continuation over the 15th Finance Commission Cycle for five years from 2021-22 to 2025-26 with an outlay of […]
