Category Archives: Economy & Banking Dose

Third Tranche of Rs 20 lakh Economic Package announced

Third Tranche of Rs 20 lakh Economic Package announced

With the PM Modi announcing the Atma Nirmar Bharat Abhiyan on May 12, 2020, Rs 20 lakh crore were allocated to ease life of the people during Lock Down 4.0. Following this, the Finance Minister Nirmala Sitaraman held two press meets earlier explaining the country about the split of these funds. The third Tranche of…

PM-KISAN Scheme: Rs 18,517 crores released

PM-KISAN Scheme: Rs 18,517 crores released

On May 14, 2020, the Agriculture Ministry released Rs 18,517 crores under PM-KISAN scheme. This will help benefit 9.25 crores of families. Highlights The Government of India has so far released Rs 18,517 crores under PM-KISAN scheme since the lock down. The funds were released as a part of Pradhan Mantri Garib Kalyan Ann Yojana.…

Rs 20,000 lakh crore of Atma Nirbhar Bharat Abhiyan: Second Tranche Announced

Rs 20,000 lakh crore of Atma Nirbhar Bharat Abhiyan: Second Tranche Announced

On May 14, 2020, the Finance Minister Nirmala Sitaraman announced the second tranche of the Rs 20,000 lakh crore economic package announced under Atma Nirbhar Bharat Abhiyan. Highlights The second tranche of the economic package focuses on migrant workers, small traders, street vendors, self-employed. The second part of the scheme is to be implemented in…

Finance Ministry begins Annual Exercise

Finance Ministry begins Annual Exercise

On May 12, 2020, the Ministry of Finance announced that the government departments and ministries will review guarantees issued against loans issued by various government entities. Highlights The exercise is done to make sure that the borrower is discharging the repayment obligations and interest obligations according to the loan agreement.The financial advisories of the ministries…

PM Modi announces Atma Nirbhar Bharat Abhiyan

PM Modi announces Atma Nirbhar Bharat Abhiyan

On May 12, 2020, Prime Minister Narendra Modi announced a new scheme called “Atma Nirbhar Bharat Abhiyan”. Under the new scheme, 20 lakh crore of package has been announced. Features of the scheme Under the scheme, the government of India is to support key sectors and also help achieve measures undertaken by Reserve Bank of…

ADB approves 1.5 billion USD for India to fight COVID-19

ADB approves 1.5 billion USD for India to fight COVID-19

On April 28, 2020, the Asian Development Bank approved 1.5 billion USD loan to support the Indian Government in its actions against the spread of COVID-19 crisis. The fund is to be used in disease containments, social protection and disease prevention. Highlights The loan sanctioned by the ADB is to be used for social protection…

India seeks help from IMF and World Bank to fill data gaps

India seeks help from IMF and World Bank to fill data gaps

The Government of India has approached multilateral organizations such as World Bank and International Monetary Fund (IMF) to find out methods that will help in preparing economic indicators such as retail inflation, industrial production and economic growth. Highlights In today’s world Data Inadequacy has become a global phenomenon. Hence, the Ministry of Statistics and Programme…

April 26: World Intellectual Property Day

April 26: World Intellectual Property Day

Every year, the World Intellectual Property Day is marked on April 26 to encourage creativity and innovation. The day was established by the World Intellectual Property Organization (WIPO) in 2000. This year, the World Intellectual Property Day is being marked under the theme. Theme: Innovate for Green Future. Significance The day is marked to celebrate…

What is Helicopter Money and how it can help RBI to revive Indian Economy from COVID-19 crisis?

What is Helicopter Money and how it can help RBI to revive Indian Economy from COVID-19 crisis?

Helicopter Money Explained:  Amid rising concerns over economic crisis that has been triggered by the COVID-19 lockdown; Helicopter Money is one concept that is being considered by authorities’ world over? In fact, Telangana Chief Minister K. Chandrashekar Rao has suggested RBI to adopt the concept of Helicopter Money to help state governments tide over the…