DOUBLE BURDEN OF MALNUTRITION: NEED FOR URGENT POLICY ACTION
2019 was remarkable for nutrition in India as – After years of slow and somewhat tentative action to acknowledge, understand and act on the challenge of undernutrition, India’s National Nutrition Mission brought focus and ambition and a range of actions followed. Changes seen: National and State Governments mobilised District Administrators engaged Private sector mobilised in […]
MOODY’S CUTS INDIA GDP GROWTH FORECAST
Focus: GS-III Indian Economy, Prelims Why in news? Moody’s Investors Service sharply cut India’s growth forecast for calendar 2020 to 2.5% from 5.3% estimated barely 10 days ago after the government ordered a nationwide lockdown to curb the spread of the coronavirus. The ratings company estimates a 5% growth for calendar 2019. Global Economy may […]
WORLD IS NOW IN RECESSION: IMF
Focus: GS-III Indian Economy, Prelims Why in news? The COVID-19 pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief said on 27th March 2020. Highlights Over 80 countries, mostly with low incomes, have already requested emergency aid from the International Monetary Fund. $2.2 trillion […]
RBI CUTS RATES, ALLOWS LOAN MORATORIUM
Focus: GS-III Indian Economy Why in news? The Reserve Bank of India (RBI) has opened up the liquidity floodgates for banks even as it reduced the key interest rate sharply by 75 bps and allowed equated monthly instalments (EMIs) to be deferred by three months in a move to fight the economic impact of the […]
UNION CABINET APPROVES RECAPITALISATION OF RRBs
Focus: GS-III Indian Economy Why in news? The Centre has approved a ₹1,340-crore recapitalisation plan for regional rural banks (RRBs) to improve their Capital-to-Risk weighted Assets Ratio (CRAR), strengthening these institutions that are critical to the provision of credit in rural areas. On 25th march 2020, the Cabinet Committee on Economic Affairs gave its nod […]
FINANCE MINISTRY WRITES TO RBI FOR RELAXING FARM LOAN NPA NORMS
Focus: GS-III Indian Economy, Economic Development Why in news? The Finance Ministry has asked the Reserve Bank of India (RBI) to relax asset classification norms for farm loans extended by banks following the stress faced by the agriculture sector. What did the Ministries and Departments say? Finance Ministry requested to consider making appropriate relaxation in […]
RBI ADVANCES VARIABLE RATE TERM REPO AUCTION
Focus: GS-III Indian Economy Why in news? The Reserve Bank of India (RBI) has decided to advance the first of the two variable rate term repo auctions to March 26 from March 30. Details On a review of the rapidly evolving financial conditions and taking into account the impact of disruptions caused by COVID-19, it […]
ECONOMIC PACKAGE SOON, SAYS FM
Focus: GS-III Indian Economy Why in news? An economic package to deal with COVID-19 situation will be announced soon, Finance Minister Nirmala Sitharaman promised on 24th March 2020, afternoon, adding that the government and regulators are constantly monitoring the state of the economy, markets and rupee depreciation. She still offered little clarity on the composition […]
ENCOURAGE DOORSTEP DELIVERY: CENTRE
Focus: GS-III Indian Economy Why in news? The Home Ministry on 24th March 2020, issued a set of guidelines to be followed by the States to contain COVID-19. It asked all “enforcement authorities to note that these strict restrictions fundamentally relate to the movement of people, but not to that of essential goods”. What the […]
GOVERNMENT EXTENDS TAX DEADLINES TO JUNE 30
Focus: GS-III Indian Economy Why in news? Deadlines for filing income tax and GST returns have been extended to June 30, as part of a slew of relaxations of financial year-end compliance announced by Finance Minister Nirmala Sitharaman on 24th March 2020. The changes had been prompted by the shutdown of large parts of the […]