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Current Affairs on Economy

Current affairs on 25 April 2017

"15-year Vision Document" to accelerate the country’s economic development presented by NITI Aayog

  1. 3rd edition of NITI Aayog’s Governing Council that was held on 23 April 2017 chaired by Prime Minister Narendra Modi has presented a precursor of the ambitious ‘15-year Vision Document’ to accelerate the country’s economic development.
  2. The meeting was attended by Chief Ministers of all states except West Bengal and Delhi in which NITI Aayog’s Vice-Chairman, Arvind Panagariya, presented a roadmap for “rapid transformation” of India by outlining key aspects of the document, comprising a seven-year strategy paper and a three-year action plan.
  3. First meeting of NITI Aayog on the same was held on 8 February 2015, in which the Prime Minister had laid down the key mandates of NITI Aayog such as fostering cooperative federalism by addressing national issues through mutual cooperation and monitoring of important schemes and programs. and in second meeting the was held on 15 July 2015, had reviewed the progress made by the three sub-groups of chief ministers and the two task forces.

Current affairs on 24 April 2017

Rajasthan State govt, HPCL sign agreement for Barmer refinery

  1. Rajasthan government and Hindustan Petroleum Corporation Limited (HPCL) signed an agreement for the Rs 43,129 crore Barmer refinery in which state government will have 26% stake in the project while rest will be held by HPCL.
  2. The Barmer refinery will be the first in the country to produce BS-6 standard fuel.
Posted on: 24th April 2017 Read complete Article →

Current affairs on 18 April 2017

World Bank approves $375-mn loan for India’s first waterway project

  1. World Bank has approved a $375 million loan to India’s first inland water transport fairway National Waterway 1 (NW1) project.
  2. The water project will be built on a 1,360 km stretch of the Ganga river between Varanasi and the seaport of Haldia. 
Posted on: 18th April 2017 Read complete Article →

G20 Ministerial Meet on Digital Economy

  1. The first-ever G20 Ministerial Meet on Digital Economy was held during April 2017 in Dusseldorf (Germany).The title of the meet was ‘Digitalisation: Policies for a Digital Future’.
  2. India was represented in the meet by Union Electronics and Information Technology Minister Ravi Shankar Prasad. 
  3. The meet concluded with adaptation of declaration on ‘Shaping Digitalisation for an Interconnected World’ which primarily seeks greater availability of affordable broadband connectivity, broader adoption of digital technologies and services improved digital skills and literacy for G20 economies.

CCEA approved listing of 11 central public sector enterprises (CPSEs)

  1. The Cabinet Committee on Economic Affairs (CCEA) on 12 April 2017 approved listing of 11 central public sector enterprises (CPSEs) in the equity market with 25% of mandated public shareholding in profitable CPSEs.
  2. To adhere to this clause, the CCEA on 12 April 2017 approved listing of 11 CPSEs. These 11 CPSEs are – 5 railway subsidiaries – Rail Vikas Nigam Ltd, IRCON International Ltd., Indian Railway Finance Corp. Ltd., Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) and RITES Ltd.; 3 defence ministry enterprises – Bharat Dynamics Ltd., Garden Reach Shipbuilders & Engineers Ltd. and Mazagon Dock Shipbuilders Ltd.; 2 entities under the Steel Ministry – MSTC Ltd. and Mishra Dhatu Nigam Ltd. and one unit under the power ministry – North Eastern Electric Power Corporation Ltd.

Current affairs on 12 April 2017

RBI allows banks to invest in REITs & InvITs
  1. In order to give some boost and relief to revive the cash-starved infrastructure sector, RBI has allowed banks to invest in Real Estate Investment Trust (REITs) and Infrastructure Investment Trusts (InvITs), 
  2. Banks are allowed to invest in equity-linked mutual funds, venture capital funds (VCFs) and equities to the extent of 20% of their Net Owned Fund (NOF). 
Posted on: 12th April 2017 Read complete Article →

Current affairs on 10 April 2017

First time since 1991 FDI flow into India has taken care of current account deficit (CAD)
  1. For the first time since 1991 FDI flow into India has taken care of current account deficit (CAD) as disclosed by data released during April 2017 that had historically been done through borrowings by companies in the overseas markets or remittances by non-resident Indians (NRIs) and portfolio inflows, is undergoing a shift in the country.
  2. Gross FDI from April 2016 to January 2017, the first 10 months of the fiscal year that just ended, had totalled $53.3 billion, compared with $47.2 billion in the same period a year earlier and $55.6 billion in the entire fiscal 2016.
Posted on: 10th April 2017 Read complete Article →

Current affairs on 04 April 2017

Centre gives nod to Khurja Power Project

The Centre has given a green nod for setting up 1,320 MW coal-based supercritical Khurja Thermal Power Project at a cost of Rs 9,747.5 crore in Bulandshahar, UP that implemented by state-run THDC India (THDCIL) along with the UP government. 

Posted on: 04th April 2017 Read complete Article →

Current affairs on 03 April 2017

India becomes Net Exporter of Electricity

As per Central Electricity Authority,1st time India has turned around from a net importer of electricity to Net Exporter of electricity. During the current year 2016-17 (April 2016 to February 2017), India has exported around 5,798 Million Units to Nepal, Bangladesh and Myanmar which is 213 Million units more than the import of around 5,585 Million units from Bhutan.

Posted on: 03rd April 2017 Read complete Article →

Current affairs on 06 March 2017

15.5% Growth in Domestic Tourist visits
  1. Domestic Tourist Visits (DTVs) growth was seen in 2016 thus recording a good growth rate of 15.5% over 2015 and Tamil Nadu and Uttar Pradesh have maintained the first and second rank respectively.
  2. The data for DTVs, every year, is compiled by Ministry of Tourism based on the inputs received from all States/UTs.
Posted on: 06th March 2017 Read complete Article →
Posted on: 06th March 2017 Read complete Article →