LOANS OVER RS. 1 LAKH CRORE SANCTIONED UNDER ECLGS
Focus: GS-III Indian Economy Why in news? Under the 100 % Emergency Credit Line Guarantee Scheme (ECLGS) backed by a Government guarantee, Banks from Public & Private Sectors have sanctioned loans worth over Rs. 1 lakh crore. Benefits As part of the Aatmanirbhar package Government had announced its plans for Rs. 3 lakh Crore as […]
PLANS AFOOT FOR INDIA’S 1ST COAL EXCHANGE
Focus: GS-III Indian Economy, Industry and Infrastructure Why in news? India has taken a step towards completely throwing open the Coal sector to market forces as the country gears up for commercial coal mining auctions, which will increase the number of sellers of coal. Details of the Proposal and Impact As per the proposal, entire […]
BOOSTING DEMAND KEY FOR ECONOMIC REVIVAL
Focus: GS-III Indian Economy Why in news? The actual fiscal spending involved is much lower than the Economic Stimulus package which is said to amount to over ₹20 lakh crore (10% of GDP) The reason for this is that two-thirds of the package is focused on credit infusion programmes. This implies that supply side measures […]
A BLUEPRINT TO PROTECT LABOUR RIGHTS
Focus: GS-III Indian Economy Introduction More than 90% of India’s workforce is informally employed. About three-quarters is either self-employed or casual labourers, with no income and employment security or benefits. India’s organised sector too is characterised by stagnant wages, and a decrease in the proportion of employees with social security benefits. Need for reform It […]
RESET RURAL JOB POLICIES, RECOGNISE WOMEN’S WORK
Focus: GS-III Indian Economy Introduction A survey found that women workers were worse off than men during the lockdown as, among rural casual workers 71% of women lost their jobs after the lockdown, while 59% of the men lost their jobs. Data from the Centre for Monitoring Indian Economy (CMIE) also suggest that job losses […]
GOVT DEBATES TOUGH CHINA STEPS WITHOUT HURTING FDI
Focus: GS-III Indian Economy Why in news? Centre is said be debating adopting tough measures against China over the border standoff and act against Beijing’s interests in areas that do not add value to India’s economy. However, there is also the concern that Government needs to ensure that investments critical for accelerating growth should not […]
GST MOP-UP POINT TO A PICKUP IN ECONOMIC ACTIVITY
Focus: GS-III Indian Economy Why in news? Manufacturing activity in India appeared to stabilize from historic lows and indirect tax collections bounced back in June, suggesting a slow recovery from the collapse in demand because of the coronavirus pandemic. Recovery in sight? Although manufacturing activity shrank for a third straight month in June, it was […]
WORLD BANK APPROVES $750 MILLION TO AID MSMES
Focus: GS-III Indian Economy Why in news? The World Bank has approved $750-million loan to increase flow of finance to micro, small, and medium enterprises (MSMEs) in India. The bank has lent $5.13 billion to India in the last year —the highest in a decade. Details India’s MSME sector, which contributes 30% of India’s GDP […]
MIGRANT FOODGRAIN SCHEME REACHED LESS THAN 15% OF TARGET
Focus: GS-III Indian Economy Why in news? The Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) scheme to provide free rations to eight crore migrants under the Aatmanirbhar package reached less than 15% of its target beneficiaries, according to data provided by the Food Ministry Details The PMGKAY Scheme was announced by the Union Finance Minister […]
EIGHT CORE INDUSTRIES’ OUTPUT CONTRACTS 23.4% IN MAY 2020
Focus: GS-III Indian Economy, Industry and Infrastructure Why in news? The output of eight core infrastructure industries shrank by 23.4% in May 2020 due to the COVID-19 Lockdown. Details Barring fertiliser, all seven sectors — coal, crude oil, natural gas, refinery products, steel, cement, and electricity — had recorded negative growth in May. During April-May […]