Micro, Small and Medium-sized Enterprises Day
Context: Micro, Small and Medium-sized Enterprises (MSMEs) Day is celebrated every year on June 27 to recognise the contribution of these industries in the implementation of the Sustainable Development Goals (SDGs). Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Mobilization of Resources) Dimensions of the Article: Understanding MSMEs in India About International MSMEs […]
Chief Economic Adviser on Govt’s divestment targets
Context: India’s Chief Economic Adviser has expressed confidence that the ₹1.75-lakh crore disinvestment target of this fiscal will be achieved, with a good part coming from the proposed IPO of insurance behemoth LIC and privatisation of Bharat Petroleum Corporation (BPCL). Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Fiscal Policy, Inclusive growth and […]
Higher thresholds for Small and Medium Companies
Context: The Corporate Affairs Ministry has expanded the turnover and borrowing thresholds for Small and Medium sized Companies (SMC), allowing a larger number of firms to benefit from reporting exemptions under accounting norms. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy), GS-III: Industry and Infrastructure Dimensions of the Article: Companies (Accounting Standards) Rules, […]
The rural economy can jump-start a revival
Context: The second wave of the COVID-19 pandemic could be slowly receding with the economy also very gradually getting back to normal. However, the challenge of an economic recovery is far more serious than the health pandemic despite official claims of there being an economic recovery. Relevance: GS-III: Indian Economy (Growth and Development of Indian […]
CIA: 88% SMBs yet to avail any stimulus package benefits
Context: The findings of a survey conducted by the Consortium of Indian Associations (CIA) show that as many as 88% of self-employed, small and medium businesses (SMB) said they were yet to avail any benefit under the stimulus packages introduced by the Centre while 82% felt the Union and State governments were not taking care […]
Recovery takes more than reforms
Context: The most recent growth estimates of the National Statistical Office show that after a steep contraction in the first quarter of 2020, growth accelerated steadily afterwards. This would have assured a recovery had we not experienced the second wave of the pandemic that came with the current financial year 2021. Overlapping State-level lockdowns that […]
World Competitiveness Yearbook (WCY) 2021
Context: India maintained its 43rd rank on the World Competitiveness Index 2021, compiled by the Institute for Management Development (IMD). Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Inclusive Growth) Dimensions of the Article: World Competitiveness Yearbook (WCY) Highlights of World Competitiveness Index 2021 How the countries performed in World Competitiveness Index 2021? […]
Corporatisation of Ordnance Factory Board (OFB)
Context: Addressing a long pending reform, the Union Cabinet approved a plan to corporatise the Ordnance Factory Board (OFB), which has 41 factories, into seven fully government owned corporate entities on the lines of Defence Public Sector Undertakings (DPSU). Relevance: GS-III: Indian Economy (Privatization and Commercialization, Fiscal Policy, Budgeting), GS-III: Industry and Infrastructure Dimensions of […]
Banks to shift Rs. 89,000 crore NPAs to NARCL
Context: Banks have identified about 22 bad loans worth ₹89,000 crore to be transferred to the National Asset Reconstruction Company Ltd. (NARCL) in the initial phase. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, NPAs) Dimensions of the Article: What is an Asset Reconstruction Company? What are Bad Banks? National Asset Reconstruction Company […]
No change in RBI’s view on cryptocurrencies
Context: RBI Governor Shaktikanta Das made it clear that the central bank’s view on cryptocurrencies like Bitcoin remains unchanged and it continues to have “major concerns” on the volatile instruments. Relevance: GS-III: Indian Economy (Banking, Money, Monetary Policy), GS-III: Science and Technology (Developments in Science and Technology, Application of Technology in Daily life, Blockchain technology) […]