Subject: Economy Context: The Kerala government has informed the NITI Aayog that the 529.45 km semi-high-speed rail SilverLine from Kochuveli to Kasaragod, estimated to cost ₹63,941 crore, is “viable and feasible”. Concept: The government said the public-private partnership component of the joint venture between the Indian Railways and Kerala would be “improved” and that the […]
Subject: Economy Context: India’s Gross Domestic Product (GDP) contracted 7.5% in the second quarter of 2020-21, following the record 23.9% decline recorded in the first quarter, as per estimates released by the National Statistical Office. Concept: The country has now entered a technical recession with two successive quarters of negative growth. Agriculture, which was the […]
Subject: Economy Context: United Nations Development Programme (UNDP) and Invest India have launched the Sustainable Development Goals (SDGs) Investor Map for India. Concept: It laid out 18 Investment Opportunities Areas (IOAs) in six critical SDG enabling sectors, that can help the country push forward on the trajectory of Sustainable Development. The six focus sectors identified […]
Subject: Economy Context: An internal working group of the RBI has recently made a recommendation to permit industrial houses to own and control banks. Concept: The problem with banks owned by corporate houses is that they tend to engage in connected lending. Over-financing of risky activities Lending to firms that are part of the corporate […]
Subject: Economy Context: Prime Minister inaugurated the virtual 3rd Global Renewable Energy Investment Meeting and Expo (RE-Invest 2020). Concept: The summit is organised by the Ministry of New and Renewable Energy and will be held from 26 – 28 November 2020. The theme for RE-Invest 2020 is ‘Innovations for Sustainable Energy Transition’. It will feature […]
Subject: Economy Context: From January 15, all consumers trying to dial a mobile number using landline phones will need to prefix the mobile number with 0, the department of telecom said. Concept: With the consideration of TRAI Recommendation on “Ensuring Adequate Numbering Resources for Fixed Line and Mobile Services” Department of Telecommunications has taken the […]
Subject: Economy Context: The Union Cabinet has given its approval to the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL). Concept: To protect depositors’ interest and in the interest of financial and banking stability, RBI under section 45 of the Banking Regulation Act, 1949, has put a moratorium […]
Subject: Economy Context: To drive infrastructure creation in the country, the Union Cabinet approved the infusion of ₹6,000 crore equity in National Infrastructure Investment Fund’s (NIIF’s) debt platform in the next two years. Concept: Out of the proposed amount, ₹2,000 crore will be infused in the current financial year. NIIF Debt Platform is sponsored by […]