India will move towards mandatory “gold hallmarking”

What is the News? The government said that it is fully prepared to implement the mandatory hallmarking of gold jewellery and artefacts from June 1, 2021. What is Gold hallmarking? Gold hallmarking is a purity certification of precious metal. At present, It is voluntary in nature. Gold Hallmarking in India: In 2019, as per the… Continue reading India will move towards mandatory “gold hallmarking”

Insolvency and Bankruptcy Code Ordinance 2021 – Explained, Pointwise

Promulgated: April 4, 2021 Ministry: Finance Introduction The Parliament passed the Insolvency and Bankruptcy Code (IBC) in 2016. It is a comprehensive insolvency code encompassing all companies, partnerships and individuals (other than financial firms).  Based on the last five-year experience, the government wanted to introduce few changes to make the IBC more effective. Subsequently, The… Continue reading Insolvency and Bankruptcy Code Ordinance 2021 – Explained, Pointwise

“PLI Scheme” for white goods and solar photovoltaic modules

What is the News? The Union Cabinet approves two PLI schemes for white goods (air-conditioners and LED lights) and high-efficiency solar photovoltaic modules. About Production Linked Incentive Scheme(PLI): The Government of India launched the Production-Linked Incentive(PLI)  in March 2020. Aim: The aim is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies… Continue reading “PLI Scheme” for white goods and solar photovoltaic modules

IBC Amendment Ordinance 2021 Allows “Pre-Pack Insolvency Resolution”

What is the news? The President of India promulgates the IBC Amendment Ordinance 2021. It allows the use of Pre-Pack insolvency resolution. About Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021: IBC Amendment Ordinance 2021 amends the Insolvency and Bankruptcy Code, 2016. The Amendment allows the use of Pre-Packaged insolvency resolution as an alternative resolution mechanism… Continue reading IBC Amendment Ordinance 2021 Allows “Pre-Pack Insolvency Resolution”

Production-Linked Incentive or PLI Schemes and its challenges – Explained, pointwise

Introduction Recently the Ministry of Commerce & Industry submitted the Status of Production-Linked Incentive Schemes in India. PLI Scheme is a cornerstone of the Government’s push for achieving an Atmanirbhar Bharat. In the Union Budget 2021, the Finance Minister announced an outlay of INR 1.97 Lakh Crores for PLI Schemes in 13 key sectors. So far… Continue reading Production-Linked Incentive or PLI Schemes and its challenges – Explained, pointwise

Govt. Extends “Emergency Credit Line Guarantee Scheme”

What is the News? Government extends the Rs. 3-lakh-crore Emergency Credit Line Guarantee Scheme (ECLGS) until 30th June 2021. It also widens its scope to new sectors, including hospitality, travel and tourism. About Emergency Credit Line Guarantee Scheme (ECLGS): Emergency Credit Line Guarantee Scheme(ECLGS) launched as part of the Covid-19 relief package called the Atma Nirbhar… Continue reading Govt. Extends “Emergency Credit Line Guarantee Scheme”

Union Minister inaugurates Event for “DSIR-PRISM Scheme”

What is the News? The Union Minister for Science & Technology inaugurates the Event for Publicity of the PRISM (Promoting Innovations in Individuals, Startups, and MSMEs) scheme. About PRISM Scheme: Nodal Ministry: PRISM is an initiative of the Department of Scientific and Industrial Research(DSIR), Ministry of Science and Technology. Aim: The aim is to help… Continue reading Union Minister inaugurates Event for “DSIR-PRISM Scheme”

Concerns with the Insurance (Amendment) Bill, 2021

Synopsis:The Insurance (Amendment) Bill, 2021 has few important concerns. But the move is a welcome step to the Insurance sector. Introduction: The Lok Sabha has passed the Insurance (Amendment) Bill, 2021. The Bill had earlier been cleared by the Rajya Sabha also. Now it only requires the presidential assent to become a law. About the… Continue reading Concerns with the Insurance (Amendment) Bill, 2021

“Handicrafts and Handlooms Export Corporation” closed permanently

What is the News? Union Cabinet has approved the closure of loss-making Handicrafts and Handlooms Export Corporation of India Ltd(HHEC). About Handicrafts and Handlooms Export Corporation of India Ltd(HHEC): It is a central public sector undertaking (CPSE) established in 1958 under the administrative control of the Ministry of Textiles. Mandate/Objectives of the Handicrafts and Handlooms… Continue reading “Handicrafts and Handlooms Export Corporation” closed permanently

India’s Rise as the new global manufacturing hub

Synopsis: India’s recent achievements have positioned it as an alternative global manufacturing hub to China at the global level. Background Democratic countries consider a rising China, with its authoritarian one-party system, as a challenge to the democratic order. This provided the strategic case for the formation of Quadrilateral Security dialogue. It envisioned to develop a… Continue reading India’s Rise as the new global manufacturing hub