GLOBAL CRUDE OIL WAR BRINGS GOOD TIDINGS FOR INDIA
Why in news? Major oil buyers such as India are set to gain following Russia’s refusal to back broader cuts in crude oil production by the Organization of the Petroleum Exporting Countries (Opec). Details Crude prices are on a tailspin after Russia did not agree to Opec’s proposal for an additional production cut of 1.5 […]
Recapitalization of Regional Rural Banks to improve CRAR
Why in news: The Cabinet Committee on Economic Affairs has given its approval for continuation of the process of recapitalization of Regional Rural Banks (RRBs) by providing minimum regulatory capital to RRBs for another year beyond 2019-20, that is, up to 2020-21. This is for those RRBs which are unable to maintain minimum Capital to Risk weighted Assets Ratio (CRAR) […]
Cabinet approves construction of Aligarh-Harduaganj flyover
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved the construction of Aligarh-Harduaganj flyover. The construction of the flyover will be taken up by the Ministry of Railways. Aligarh-Harduaganj flyover: The total length of the Aligarh-Harduaganj railway flyover will be 22 Km. The construction of teh flyover is expected to be completed by 2024-25. The total cost estimated for […]
CONSUMER PROTECTION ACT , 1986 vs CONSUMER PROTECTION ACT , 2019
Consumer Protection Act The existing Consumer Protection Act, 1986 provide for protection of the rights of the consumers. Under the provisions of the said Act, a three tier quasi-judicial mechanism, called Consumer Fora, has been established at the District, State and National levels to provide simple, inexpensive and speedy redressal to consumer disputes. Besides, the […]
UNNAT BHARATH ABHIYAN
The main objectives of Unnat Bharat Abhiyan (UBA) are as under: To engage the faculty and students of Higher Educational Institutions (HEIs) in identifying development issues in rural areas and finding sustainable solutions for the same. Identify & select existing innovative technologies, enable customisation of technologies, or devise implementation method for innovative solutions, as required […]
Efforts to Boost Defence Sector
Industrial licensing: Industrial licensing regime for Indian manufacturers in Defence sector has been liberalized. Defence Products list requiring Industrial Licences has been rationalised and manufacture of most of the parts and components does not require Industrial Licence. The total number of Defence licences issued has more than doubled since 2014 FDI: FDI Policy has been […]
FOREIGN INVESTMENTS AND ‘MAKE IN INDIA’ PROGRAMME
Why in news? Since the launch of Make in India programme, FDI inflow during the period April 2014 to December 2019 has been USD 335.33 billion which is nearly 51% of cumulative FDI in India since April 2000. In 2018-19, FDI inflow stood at a record of USD 62 billion, highest ever recorded for a […]
REMISSION OF DUTIES AND TAXES ON EXPORTED PRODUCTS (RODTEP)
Why in news? The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has given its approval for introducing the Scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) under which a mechanism would be created for reimbursement of taxes/ duties/ levies, at the central, state and local level, which […]
START UP INDIA
Why in news? Startup India initiative was announced by the Prime Minister of India on 15th August, 2015. Objective: To build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. Further to this, an Action Plan for Startup India was unveiled […]
STEPS TAKEN TO BOOST EXPORTS
Government’s aims Primary focus of Government export promotion schemes/ policies is to refund duties and taxes levied on inputs used in production of export products, reduce cost disability by providing incentives to specified products and improve all-round ease of doing business. Overall thrust is on enhancing competitiveness and growth in exports of all products groups […]