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
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Impact of drone attacks Drone attacks last week on Saudi Arabia’s crude processing facility, the largest in the world, have impacted half of the country’s crude oil production and about 5% of the world supply. Following the attacks, Global Brent crude futures shot up more than 20% to $66.91 per barrel. However, allaying Indian fears, … Continued
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
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
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
Kisan Man Dhan Yojana Prime Minister Narendra Modi shall launch the Kisan Maan Dhan Yojana on the 12thof September at Ranchi, 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. The scheme … Continued
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
A top executive at the World Bank, Kristalina Georgieva of Bulgaria, is set to become 2nd female IMF chief. Georgieva is currently the world bank’s chief executive officer.Georgieva will replace former IMF chief Christine Lagarde, who has been named to lead the European Central Bank. “The board’s goal is to complete the selection process as … Continued
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
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