About MSP (Minimum Support Price)

News: Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 does not provide any safeguards for the continuance of the existing minimum support price (MSP)-based procurement regime. Facts: MSP is the minimum price paid to the farmers for procuring food crops. It is announced by the Government at the beginning of the sowing season.… Continue reading About MSP (Minimum Support Price)

Priority Sector Lending (PSL) guidelines

Reserve Bank of India (RBI) released revised priority sector lending (PSL) guidelines to augment funding for COVID-19 impacted companies. Facts: Aim: To align Priority Sector lending with emerging national priorities and bring sharper focus on inclusive development. Key Revised PSL Guidelines: Bank finance for start-ups (up to ₹50 crore), loans to farmers for installation of… Continue reading Priority Sector Lending (PSL) guidelines

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Draft Electricity Act (Amendment) Bill 2020

Draft Electricity Act (Amendment) Bill 2020 Bill has been framed to ensure that renewable energy tariffs are not changed by the states after the execution of contracts, and electricity regulatory commissions have more teeth to enforce power purchase agreements between projects and distribution companies (discom). It seeks privatisation of discoms (distribution companies) by way of… Continue reading Draft Electricity Act (Amendment) Bill 2020

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What is Industrial Revolution 4.0?

Industrial Revolution 4.0 Industry 4.0 refers to the fourth industrial revolution related to manufacturing and chain production. It is driven by breakthroughs in digital technologies, such as artificial intelligence, robotics, 3D printing, the IoT, Big Data etc. The Drivers of Change: Technological breakthroughs: New technological innovations such as Big Data, 3-D printing, artificial intelligence and… Continue reading What is Industrial Revolution 4.0?

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Base year of CPI-IW changed

The Labour and Employment Ministry on Thursday revised the base year of the Consumer Price Index for Industrial Workers (CPI-IW) from 2001 to 2016. Why the base year for the Consumer Price Index for Industrial Workers(CPI-IW) has been changed? Due to the changing consumption pattern, more weightage has been given to spending on health, education,… Continue reading Base year of CPI-IW changed

National Payments Corporation of India (NPCI)

It is a “Not for Profit” umbrella organization for operating retail payments and settlement systems in India, is an initiative of RBI and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India. It aims in bringing innovations in the… Continue reading National Payments Corporation of India (NPCI)

Regional implications of Bangladesh’s Economic Success

Source: Indian Express Context: ground: The International Monetary Fund’s latest World Economic Outlook has predicted that Bangladesh’s per capita GDP will overtake that of India this year. International development institutions have asked the rest of the subcontinent and developing countries around the world to learn much from Dhaka’s experience or the Bangladesh model. What are the… Continue reading Regional implications of Bangladesh’s Economic Success

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Macro-economic Framework Statement

The Fiscal Responsibility and Budget Management Act, 2003 mandates that Central Government shall lay in each financial year before both Houses of Parliament the following statements of the fiscal policy along with the annual financial statement and demands for grants except the Medium-term Expenditure Framework Statement, namely:— (a) the Medium-term Fiscal Policy Statement; (b) the Fiscal… Continue reading Macro-economic Framework Statement

Commercialization of coal mining

Source- Live Mint Syllabus- GS 3- Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth. Context– Centre was all set to allow commercial and even foreign players to mine coal from 19th October, with the aim of making India among the biggest exporters of the dry fuel, but… Continue reading Commercialization of coal mining