Current Affairs on Economy

Union Commerce and Industry Minister Intellectual Property Rights (IPR) Enforcement Toolkit

1. The Union Commerce and Industry Minister Nirmala Sitharaman on 4 January 2017 launched an Intellectual Property Rights (IPR) Enforcement Toolkit for police in New Delhi.
2. This toolkit will be a ready reckoner for police officials across the country in dealing with IP crimes, specifically trademarks counterfeiting and copyrights piracy.
3. The toolkit has been jointly prepared by Cell for IPR Promotion and Management (CIPAM) and Federation of Indian Chambers of Commerce and Industry (FICCI).

About IPR Enforcement Toolkit for Police

       • In addition to details of offences under various laws, it provides for checklists for registering a complaint and conducting search and seizures.

       • It lays down general guidelines for search and seizure in case of IP crimes. This toolkit will be provided to all state police departments across the nation and will assist them in dealing with the cases relating to Trademarks and Copyrights infringements.

BoB Launch Agriculture Investment Scheme

1. Bank of Baroda has launched an agricultural investment credit for the farmers of Rajasthan that will help them for doubling their income by the year 2022.
2. The first loan has been disbursed in Sri Ganganagar.
3. Under the scheme, farmers can avail of loan from the bank’s branches for construction of farm ponds, installation of solar pumps and for any other viable agriculture activities.

PM Modi also outlined various government policies for the welfare of the downtrodden, poor, farmers, traders, women and senior citizens. 

(1) Bonanza for Home Buyers 

In a big relief to home buyers, wwo New Schemes under Pradhan Mantri Awas Yojana were announced. Now get 4 % interest relief on home loan upto 9 lakh rupees. And 3 % cut for home loan upto 12 lakh rupees.

(2) Subvention on Home Improvements 

In rural areas, now you can get 3 % interest relief on loan of upto 2 lakh rupees for the construction, renovation and expansion of home.

(3) Big relief to Farmers

Govt to pay interest for 60 days on loans taken by farmers for rabi season from district cooperative banks and primary societies.

(4) Fund to NABARD doubled 

Additional fund of 20,000 crore given to NABARD to give loans to farmers.

(5) Kisan Credit Cards to become RUPAY 

3 crore Kisan Credit Cards will be transformed to RuPay credit cards. Farmers had to go to banks to withdraw money. It will help farmers to sell and buy. 

(6) Big boost to MSME sector 

For small entrepreneurs, credit guarantee raised from Rs 1 crore to Rs 2 crore. Loans by non-banking financial companies will also be covered in this. Shopkeepers and small businessmen will get more loans because of this. 

(7) Relief to small traders 

For small businesses, cash credit limit raised to 25 per cent from 20 per cent. Working capital increased to 30 % from the current 20% if the transaction is done via digital mode. 

(8) Big push to less cash Economy 

In a bid to promote less cash economy, PM says small traders and businesses with a turnover of up to Rs 2 crore, 6% tax will be levied instead of 8% if they accept payments through banking and digital means. 

(9) Scheme for pregnant women 

For pregnant women, a national scheme launched. Would be Mothers will get Rs. 6,000 for their delivery, vaccination, and nutritious meals. This will be transferred straight to their account. This will help in saving lives of mothers and new born kids.

(10) Relief to senior citizens 

Senior citizens will be assured 8 per cent interest on their deposits up to Rs 7.5 lakh. Now for the senior citizens the interest rate shall remain fixed at 8 percent for next 10 years.

CCEA Approves Road Connectivity Project

1. Cabinet Committee on Economic Affairs has approved centrally sponsored road connectivity project for Left Wing Extremism, LWE affected areas to improve rural road connectivity.
2. The project aims to provide connectivity in 44 worst left wing affected districts and implemented under Prime Minister Gram Sadak Yojana.

Sagarmala Development Co. Office Opened

1. Union Road Transport and Highways Minister Nitin Gadkari inaugurated Sagarmala Development Company’s (SDC) office in New Delhi that has been incorporated under the Companies Act, 2013 .
2. The Union Cabinet in July 2016 had approved formation of the SDC under the administrative control of the Union Ministry of Shipping.