GST Compensation Subject: Economy Section: External Sector Context: GST compensation dues to States for 2021-22 stood at ₹78,704 crore, due to inadequate balance in the Compensation Fund Details: The levy of the compensation cess, which was to cease on June 30 this year, has been extended till March 2025-26 with a view to […]
RBI rate hike Subject: Economy Section: Monetary Policy Context: The RBI’s rate setting panel on Wednesday announced an ‘off-cycle’ increase in benchmark interest rates. Details: Rise in Repo Rate– by 40 basis points to 4.4% with immediate effect. Increase in the cash reserve ratio (CRR) by 50 basis points (bps) from 4 per […]
Fed Reserve Monetary Policy Subject :Economy Section: External Sector Context: The Federal Reserve raised interest rates by the steepest increment since 2000 and decided to start shrinking its massive balance sheet, deploying the most aggressive tightening of monetary policy in decades to control soaring inflation. Decisions taken: Increase Benchmark rate– The increase in […]
Mercy Petition Subject: Polity Section: Executive Context: President has no role to play in Perarivalan’s plea, says SC Observation of Court: Supreme Court disagreed with the Central government’s suggestion that the court should wait till the President took a call on Rajiv Gandhi assassination case convict A.G. Perarivalan’s mercy plea referred to him […]
Anti-Defection Law Subject: Polity Section: Parliament Context: Recent report by NGO Association for Democratic Reforms (ADR) says that close to 90 per cent of the MLAs across Uttar Pradesh, Uttarakhand, Manipur and Punjab, who recontested in the 2022 Assembly polls after switching parties saw their wealth grow between 2017 and 2022 Anti-Defection Law: […]
Daily Prelims Notes 4 May 2022 Table Of Contents Role of Inflation-Expectation Rising Current Account Deficit Open Network for Digital Commerce (ONDC) project Lokpal XE Covid Variant Cost of Invasive Species on Indian Economy AIP Technology for Submarines Governor’s assent to bill Maharashtra’s gene bank project 1. Role of Inflation-Expectation Subject: Economy […]
Maharashtra’s gene bank project Subject: Science and Tech Section: Biotechnology Context: Maharashtra’s gene bank project is about using science to secure future. Gene bank project: The country’s first-of-its kind gene bank project in Maharashtra was approved by the state cabinet. The project will be implemented by the Maharashtra State Biodiversity Board.The MSBB will […]
Governor’s assent to bill Subject: Polity Section: Federalism Context: The State of Tamil Nadu has been witnessing a confrontation between the elected government and the State Governor on the question of giving assent to the National Eligibility cum Entrance Test (NEET) Bill passed by the State Assembly. Assent to bills under article 200 […]
AIP Technology for Submarines Subject: Defence and Security Section: Submarines Context: France’s Naval Group, one of five shortlisted Original Equipment Manufacturers (OEM) for the Navy’s P-75 India (P-75I) project to build six conventional submarines within the country, announced it would not bid for the project. The reason was that the Request for Proposal […]
Cost of Invasive Species on Indian Economy Subject: Environment Section: Biodiversity Context: As many as 10 invasive alien species (IAS), out of 330 that are known to be invasive in India, have cost the economy $127.3 billion (Rs. 8.3 trillion) in the last 60 years, according to a recent analysis that points to […]