IRDAI NOD FOR AROGYA SANJEEVANI GROUP VARIANT
Focus: GS-III Indian Economy Why in news? Insurance regulator IRDAI said it was permitting insurers to offer standard health insurance cover Arogya Sanjeevani as a group policy. This version will be introduced under the same name — Arogya Sanjeevani — and terms and conditions of the standard policy retained. Insurers, however, get the freedom to […]
DEPARTMENT OF POSTS: SMALL SAVINGS SCHEMES EXTENDED
Focus: GS-III Indian Economy Why in news? The Department of Posts has now extended all small savings schemes upto the Branch Post Office level. Why was this done? The Extension was done in order to strengthen its network and postal operations in rural areas and provide facility of small savings scheme to the vast majority […]
CHINESE COMPANIES FACE CURBS IN GETTING GOVT CONTRACTS
Focus: GS-III Indian Economy, GS-III International Relations Why in news? The Central Government changed rules to enable curbs on bidders from countries that share a land border with India “on the grounds of defence and national security”. The action signals increasing impatience with China over its failure to fully implement the ‘consensus’ to disengage and […]
COVID-19 MAY FURTHER SKEW INDIA’S TAX PROFILE
Focus: GS-III Indian Economy Introduction, How Indirect tax varies from Direct tax Direct taxes are progressive in nature – the rich pay at a higher rate than the poor – and a fall in share of direct taxes in total revenue entails retrogression in the tax burden. Indirect taxes do not make the distinction between […]
RESTRICTIONS ON PUBLIC PROCUREMENT FROM CERTAIN COUNTRIES
Focus: GS-III Indian Economy Why in news? The Government of India today amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters directly or indirectly related thereto including national security. Details The Department of Expenditure […]
INDIA CLOSE TO LIMITED TRADE DEAL WITH U.S.
Focus: GS-III Indian Economy, GS-II International Relations Why in news? India and the U.S. have “almost” finalised a limited trade deal, Commerce Minister said. Details Commerce Minister also reiterated what both countries have declared earlier — that the longer-term plan is to work towards a comprehensive trade deal. As an intermediate step between the imminent […]
GOVT TO REVAMP FTA STRATEGY TO ENSURE ECONOMIC BENEFITS
Focus: GS-III Indian Economy Why in news? Discussions have begun at the highest level leading the deliberations on a revamped strategy on Free Trade Agreements (FTAs), coinciding the External Affair’s minister’s statement that FTAs haven’t helped India build capacity. Details The government is recalibrating its strategy on entering into free trade agreements (FTAs) in a […]
WHY ARE RE-PURPOSED MEDICINES EXPENSIVE?
Focus: GS-III Indian Economy Why in news? Clinical trials with re-purposed antivirals and biologicals have been approved in different geographical settings and these medicines are believed to have some potential in shortening the recovery time in COVID-19 patients. Recently, the Drugs Controller General of India (DCGI) issued approval to manufacture and market Favipiravir tablets for […]
THE COVID-19 FISCAL RESPONSE AND INDIA’S STANDING
Focus: GS-III Indian Economy Introduction Before the announcement of the Atmanirbhar Bharat package, India lagged significantly behind comparable developing countries that are similar in GDP per capita, state capacity, and structure of the labour force. For example, the total Atmanirbhar package is billed at 10% of GDP, but others have estimated that the new fiscal […]
ZORAM MEGA FOOD PARK
Focus: GS-III Indian Economy Why in news? The Zoram Mega Food Park (MFP) in Mizoram was inaugurated by Minister of Food Processing Industries. This is the first Mega Food Park operationalized in the State of Mizoram. Under the Mega Food Park Scheme, Government of India provides financial assistance upto Rs. 50.00 Crore per Mega Food […]