The Central Government, on February 28, 2018, has extended the ‘Prime Minister’s Employment Generation Programme’ (PMEGP) beyond 12th Plan for three years from 2017-18 to 2019-20 with a total outlay of Rs.5,500 crore. Scheme will create sustainable estimated employment opportunities for Read More …
Category: Economy
Cabinet approves doubling of Government guarantee for procurement of pulses and oilseeds at MSP
The Cabinet Committee on Economic Affairs on February 28, 2018 approved the regularization and extension of Govt. Guarantee provided to lender Bank for providing credit limit to National Agricultural Cooperative Marketing Federation of India (NAFED) to Rs.19,000 crore from earlier Read More …
Cabinet approved Action Plan for Champion Sectors in Services
The Union Cabinet on February 28, 2018 gave its approval to the proposal of the Department of Commerce to give focused attention to 12 identified Champion Services Sectors for promoting their development, and realizing their potential. The Cabinet has also Read More …
Record 277.49 million tonnes of foodgrains production in 2017-18 estimated
The 2nd Advance Estimates of production of major crops for 2017-18 was released on 27 February by the Department of Agriculture, Cooperation and Farmers Welfare . As per 2nd Advance Estimates, the estimated production of major crops during 2017-18 is Read More …
Inter-Modal Stations (IMS) at Nagpur and Varanasi
The National Highways Authority of India (NHAI) under the Ministry of Road Transport and Highways has conducted detailed pre-feasibility studies for setting up Inter Modal Stations (IMS) at Nagpur and Varanasi, and the development of DPRs for this is in final Read More …
Financial Intelligence Unit released list of 9500 high-risk financial institutions
Financial Intelligence Unit (FIU) under Ministry of Finance, has released a list of around 9500 Non-Banking Financial Companies (NBFCs), which have been categorised as high-risk financial institutions. The FIU has released the list on its website showing the names of Read More …
E-Way bill for Inter-state movement of goods will be effective from 1st April 2018
The Group of Ministers for GST has recommended implementation of E-Way bill for Inter-state movement of goods from 1st April 2018. According to the Bihar Deputy Chief Minister and GST Convenor, Sushil Kumar Modi, 26 to 30 Lakh E-Way bills Read More …
Kaleshwaram Lift Irrigation Project and environmental concerns
Why in the news: One of the most ambitious project of Telangana, the Kaleshwaram Lift Irrigation Project is once again in the news. Environmentalists are raising eyebrows about its irrecoverable costs. Environmental costs: According to the environmental experts, this project Read More …
RBI launches Ombudsman scheme for NBFCs
The Reserve Bank of India via notification on 23 February 2018, launched Ombudsman Scheme for non-banking financial companies (NBFCs), registered with RBI under section 45-IA of the RBI Act, 1934, for redressal of complaints against them. The scheme was announced Read More …
Inland Waterways Authority of India has engaged KPMG for Jal Marg Vikas Project
The Inland Waterways Authority of India (IWAI) has engaged KPMG, a reputed consultant, to study and devise a framework for operationalization and maintenance of the assets being built on National Waterways-1 under the World Bank funded Jal Marg Vikas Project (JMVP) . Read More …
Cabinet approves new methodology for auction of coal mines
The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi on 20 February 2018, approved the methodology for auction of coal mines / blocks for sale of coal under the Coal Mines (Special Provisions) Act, 2015 and Read More …
Union Cabinet approved National Urban Housing Fund (NUHF)
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi on 20 February 2018, gave approval for creation of National Urban Housing Fund (NUHF) for Rs.60,000 crores. This fund will be situated in Building Materials and Technology Promotion Council Read More …
National Banana Festival, 2018
The National Banana Festival, 2018 is being held at Kalliyoor in Thiruvananthapuram (Kerala) between 15- 17 February 2018. The Union Agriculture & Farmers Welfare Minister, Shri Radha Mohan Singh inaugarated the festival on 17 February and highlighted the scenario of Read More …
GDP base year changed to 2017-18 and four new surveys launched
The central government has changed the base year to 2017-18 to calculate Gross Domestic Product (GDP), Index of Industrial Production (IIP) and Consumer Price Index (CPI) to accommodate and factor the changes take place in the economic scenario of the Read More …
RBI’s revised guidelines for resolution of bad loans
Reserve Bank of India on 12 February issued a revised guidelines for expeditious resolution of bad loans, harmonising the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC). The new guidelines have specified framework for early Read More …