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Current Affairs on Economy

Current Affairs on Economy

Current affairs on 18 April 2017

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 →
India foreign exchange reserves increases
  1. India’s foreign exchange reserves increased by USD 63.7 million to USD 362.79 billion while Gold reserves remained unchanged at 19.248 billion.
  2. However, India’s special drawing rights with the International Monetary Fund rose by a marginal USD 100,000 to USD 1.444 billion.
  3. Country’s reserve position increased by USD 0.2 million to USD 2.318 billion.

Current affairs on 02 March 2017

India signs agreement for Tejaswini
  1. For the first time World Bank signed a financing agreement for IDA credit of $63 million for ‘Tejaswini’.
  2. ‘Tejaswini’ is a socio-economic empowerment of adolescent girls and young women project and will be delivered in 17 Districts of Jharkhand.
  3. This is the first World Bank project in India that is solely focused on the welfare of adolescent girls and young women.
Posted on: 02nd March 2017 Read complete Article →
New Catering Policy 2017 of the Indian Railways launched
  1. This new Catering Policy will now seprate the food production and food distribution process. Therefore, now food will be cooked anywhere in the kitchens of IRCTC while it will be distributed using professionals from the hospitality industry. 
  2. Pantry car contracts awarded by zonal railways will also be reassigned to IRCTC. All four Base Kitchens under departmental operation of Zonal Railways and all kitchen units will be handed over to IRCTC on ‘as is where is basis’.  
  3. Kitchen structures/ land/space will be handed over by Zonal Railways to IRCTC for a period of 10 years which can be extendable for another period of 5 years. IRCTC will determine the menu of standard meals and A-la-carte items. 
  4. 33 per cent sub quota for women in allotment of each category of minor catering units at all category of stations has also been provided.
Posted on: 02nd March 2017 Read complete Article →
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