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Government to peg MGNREGA wages to inflation in bid to hike incomes (Relevant for GS Prelims; Economics)

The Centre plans to inject more money into the UPA’s flagship Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme by linking wages under the Act to an updated inflation index, which will be revised annually. It hopes this will increase wages, thus increasing purchasing power and reviving rural demand. The increased wages based on … Continued

In recent years, many state govts have waived farm loans. How did this impact their respective finances? Following a recent RBI report, a look at why state finances matter for India’s macroeconomic stability (Relevant for GS Prelims & Mains Paper III; Economics)

Reserve Bank of India shared the report of an Internal Working Group (IWG), which was set up in February to look at, among other things, the impact of farm loan waivers on state finances. The report has shown how farm loan waivers dented state finances and urged governments to avoid resorting to farm loan waivers. … Continued

Nirmala Sitharaman unveils package to boost exports, revive housing sector (Relevant for GS Prelims & Mains Paper III; Economics)

Union Finance Minister Nirmala Sitharaman announced a third set of government decisions to revive the economy. The decisions announced by the Minister follow two previous mega announcements designed to encourage private sector investment and bring further stability into the banking system through several public sector bank mergers. Areas focused in third set of measures  1. Exports … Continued

New Pension schemes launched for small and marginal farmers, traders and self- employed persons (Relevant for GS Prelims & Mains Paper II; Economics)

Pradhan Mantri Kisan Maan Dhan Yojana PM launched the Pradhan Mantri Kisan Maan Dhan Yojana at Ranchi, the Capital of Jharkhand. The Scheme shall secure the lives of 5 Crore Small and Marginal Farmers by providing a minimum pension of Rs 3000 per month, to those who attain 60 years of age. National Pension Scheme … Continued

A minor win for India at WTO- The trade body ruled that renewable energy incentives offered by U.S. were discriminatory (Relevant for GS Prelims & Mains Paper III; Economics)

What was the matter? In a welcome judgment for India, a World Trade Organization (WTO) panel in June accepted its claim in a dispute concerning U.S. regulations on domestic content requirement in the production of renewable energy. This was also significant as New Delhi had earlier lost a similar dispute over its own domestic content … Continued

Constitution of task force for drawing up National Infrastructure Pipeline of Rs. 100 Lakh Crore from FY 2019-20 to FY 2024-25 (Relevant for GS Prelims & Mains Paper III; Economics)

To achieve the GDP of $5 trillion by 2024-25, India needs to spend about $1.4 trillion (Rs. 100 lakh crore) over these years on infrastructure. In the past decade (FY 2008-17), India invested about $1.1 trillion on infrastructure. To achieve this task, a Task Force under the chairmanship of Secretary (DEA) has been constituted by … Continued

What is ration card portability? How will the ‘One Nation One Ration Card’ scheme be carried out? What are the challenges? (Relevant for GS Prelims & Mains Paper III; Economics)

The Bharatiya Janata Party government is showcasing the rollout of the ‘One Nation One Ration Card’ scheme as one of the biggest achievements of its first 100 days in power. The launch of the nationwide food security net is scheduled for June 2020, but several challenges remain before migrants can take advantage of full portability. … Continued

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