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Current Affairs on Economy

Current affairs on 07 February 2017

India signs financing agreement with WB
  1. The Indian government has signed a $201.50-million (around Rs 1,358 crore) financing agreement with the World Bank to improve the quality of technical education in the country.
  2. The Finance Ministry said, “the project has been designed as a disbursement-linked one, that is, the World Bank loan will be disbursed on achievement of specific outcomes.
Assam govt to start Anomaly Committee
  1. Assam government has decided to set up Anomaly Committee to address the grivances of the employees regarding implementation of 7th Pay Commission.
  2. The minister further said that the Commission met 107 organisations to take their views before submitting its report to the government.
  3. As per reports the Assam government has decided to implement the Pay Commission from April this year.
Assam launches development scheme - Samagra Gramya Unnayan Yojana
  1. Assam Government has launched Chief Minister Samagra Gramya Unnayan Yojana to bring about paradigm shift towards holistic development of villages in the state
  2. The scheme has financial outlay of Rs 30000 crore and will be implemented in all the villages in Assam in the next 5 years culminating in 2021-22
Niti Ayog launches Innovation Index
  1. NITI Aayog launched “India Innovation Index”, the nation’s first online innovation index portal which will rank states based on their innovations.
  2. Inaugurating the portal, he said that it will be a “first-of-its-kind online platform” where Global Innovation Index (GII) indicators and India-centric data from various states will be updated periodically.
Queen Elizabeth II, the world’s longest reigning sovereign
  1. Queen Elizabeth II, the world’s longest reigning sovereign, on 6 February 2017 became the first British monarch to complete 65 years on the throne. This historic day was celebrated as Sapphire Jubilee. The day also coincided with the day her father, George VI, died.
  2. It was on the February 6, 1952 that her father died while at Sandringham. Princess Elizabeth, who was 25, was in Kenya on a royal tour with her husband Prince Philip, Duke of Edinburgh, at the time.

Current affairs on 02 February 2017

IRCTC, IRCON and IRFC to be listed
  1. Government will move ahead with the listing of Railway PSUs-IRCTC, IRCON and IRFC and come out with a procedure for a time-bound listing of CPSEs
  2. Listing of PSUs will ensure economies of scale,investment & decision of PSUs and create value for stock
  3. New Exchange Traded Fund (ETF) comprising stocks of 10 PSUs will be launched in 2017-18.
Posted on: 02nd February 2017 Read complete Article →

Current affairs on 01 February 2017

Gokaldas Exports to set up manufacturing units in Andhra Pradesh
  1. Gokaldas Exports has entered in to a memorandum of understanding (MoU) with the Andhra Pradesh Government for setting up four apparel manufacturing units in Chittoor district over next three years.
  2. The company plans to invest up to Rs. 200 crore which is likely to generate approximately 5,000 new jobs.


Posted on: 01st February 2017 Read complete Article →
Power Grid Corporation of India Ltd MOU with Abu Dhabi Water & Electricity Authority (ADWEA) 
  1. Central Power Sector PSU Power Grid Corporation of India Ltd, popularly known as POWERGRID, on 25 January 2017 signed a Memorandum of Understanding (MoU) with Abu Dhabi Water & Electricity Authority (ADWEA) & its group of companies in Gurgaon.
  2. The MoU was signed by Saeed Al Suwaidi, Managing Director of Abu Dhabi Distribution Co (UAE) and Anil Mehra, Executive Director- International Business of POWERGRID in the presence of IS Jha, CMD of POWERGRID. 
  3. In 1998, Abu Dhabi Water & Electricity Authority is a financially and administratively established as independent organization.

Current affairs on 23 January 2017

Entrepreneurship Development Scheme inaugurated
  1. In Mizoram, Entrepreneurship Development Scheme (EDS) was inaugurated under the New Economic Development Policy (NEDP).
  2. State government gave high priority to entrepreneurship development and has allocated Rs two crore under the NEDP during the current fiscal.
Posted on: 23rd January 2017 Read complete Article →

Current affairs on 20 January 2017

Union Cabinet excluded States and Union Territories from National Small Savings Fund (NSSF) investments
  1. The Union Cabinet on 18 January 2017 excluded States and Union Territories except Arunachal Pradesh, Delhi, Kerala and Madhya Pradesh from National Small Savings Fund (NSSF) investments with effect from 1 April 2016.
  2. On the occasion, the cabinet also approved one-time loan of Rs 45000 crore from NSSF to Food Corporation of India (FCI) to meet its food subsidy requirements and the repayment obligation of the FCI in respect of NSSF Loans will be treated as the first charge on the food subsidy released to the Food Corporation of India. 
  3. In the future, NSSF will invest on items whose expenditure is ultimately borne by Union Government and the repayment of the principal and interest of that amount would be borne from the Union budget.
Posted on: 20th January 2017 Read complete Article →
Posted on: 20th January 2017 Read complete Article →
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