Filetype PDF | Posted on 07 Oct 2022 | 3 years ago
Authentication
digital resources
247x Filetype PDF File size 1.66 MB Source: www.insightsonindia.com
INSTA PT 2020
EXCLUSIVE
ECONOMY – PART 2
February 2020 – July 2020
INSTA PT 2020 EXCLUSIVE (ECONOMY-PART 2)
NOTES
Table of Contents
Schemes / Government Initiatives ................................................................................ 3
1. VIVAD SE VISHWAS SCHEME ................................................................................................... 3
2. ATMANIRBHAR BHARAT ABHIYAN........................................................................................... 3
3. PRADHAN MANTRI STREET VENDOR’S ATMANIRBHAR NIDHI SCHEME .................................... 4
4. CREDIT GUARANTEE SCHEME FOR SUB-ORDINATE DEBT (CGSSD) ........................................... 5
5. COUNTRY OF ORIGIN IN GEM PLATFORM ............................................................................... 5
6. SATYABHAMA PORTAL ............................................................................................................ 5
7. ATMANIRBHAR BHARAT APP INNOVATION CHALLENGE .......................................................... 6
8. ASEEM PORTAL ...................................................................................................................... 6
9. SPECIAL LIQUIDITY SCHEME FOR NBFCS AND HFCS ................................................................. 6
10. AGRICULTURE INFRASTRUCTURE FUND .............................................................................. 6
11. WHAT IS FINANCE COMMISSION GRANTS & OTHER TRANSFERS? ........................................ 7
12. INSOLVENCY AND BANKRUPTCY CODE (IBC) ........................................................................ 8
13. PRE-PACKS UNDER THE PRESENT INSOLVENCY REGIME ...................................................... 9
14. CONSOLIDATED NOTIFICATION ON MSME CLASSIFICATION AND REGISTRATION ............... 10
15. CHAMPIONS: TECHNOLOGY PLATFORM TO EMPOWER MSMES ........................................ 10
16. LABOUR MINISTRY NOTIFIES DRAFT ON MINIMUM WAGES .............................................. 10
Banking Sector / Financial Sector ................................................................................ 12
1. MONETARY POLICY COMMITTEE (MPC) ................................................................................ 12
2. DIVIDEND DISTRIBUTION TAX ............................................................................................... 13
3. COOPERATIVE BANKS UNDER RBI ......................................................................................... 13
4. WHAT IS CRR OR CASH RESERVE RATIO? ............................................................................... 14
5. MARGINAL COST OF FUND-BASED LENDING RATE (MCLR) .................................................... 14
6. LONG-TERM REPO OPERATIONS (LTROS) .............................................................................. 15
7. HELICOPTER MONEY ............................................................................................................ 15
8. ADDITIONAL TIER-1 BONDS .................................................................................................. 16
9. OPERATION TWIST ............................................................................................................... 17
10. BUSINESS CORRESPONDENTS ........................................................................................... 17
11. INPUT TAX CREDIT ............................................................................................................ 18
12. RBI RELEASES NEW GUIDELINES FOR PAYMENT AGGREGATORS ........................................ 18
13. ‘FULLY ACCESSIBLE ROUTE’ (FAR) ...................................................................................... 19
14. VOLUNTARY RETENTION ROUTE FOR FOREIGN PORTFOLIO INVESTORS ............................. 20
15. COUNTERCYCLICAL CAPITAL BUFFERS (CCYB) .................................................................... 20
16. RECAPITALISATION OF RRBS ............................................................................................. 21
17. SWAP RATIO ..................................................................................................................... 21
18. DEARNESS ALLOWANCE .................................................................................................... 21
19. BULL AND BEAR MARKETS ................................................................................................ 21
20. BLUE CHIP STOCKS ............................................................................................................ 22
21. CIRCUIT BREAKER IN STOCK MARKET ................................................................................ 22
22. EXCISE DUTY ..................................................................................................................... 22
23. WAYS AND MEANS ADVANCES.......................................................................................... 23
24. PAYMENTS INFRASTRUCTURE DEVELOPMENT FUND (PIDF) .............................................. 24
25. RIGHTS ISSUE ................................................................................................................... 24
External Sector ........................................................................................................... 25
1. KURZARBEIT SCHEME ........................................................................................................... 25
2. GOVERNMENT AMENDS THE EXTANT FDI POLICY ................................................................. 25
3. WHO ARE THE DEVELOPING COUNTRIES IN THE WTO? ......................................................... 25
4. SPECIAL DRAWING RIGHTS (SDR) .......................................................................................... 26
www.insightsonindia.com 1 InsightsIAS
INSTA PT 2020 EXCLUSIVE (ECONOMY-PART 2)
NOTES
5. FOREX RESERVES .................................................................................................................. 27
6. INTERNATIONAL COMPARISON PROGRAM ........................................................................... 28
7. FOREIGN CONTRIBUTION (REGULATION) ACT (FCRA), 2010 .................................................. 28
Reports / Ranking / Committees / Awards / Events ..................................................... 31
1. WORLD BANK REPORT ON REMITTANCES ............................................................................. 31
2. OPEN BUDGET SURVEY ......................................................................................................... 31
3. PERIODIC LABOUR FORCE SURVEY (PLFS) .............................................................................. 31
4. WHY MOODY’S DOWNGRADED INDIA’S RATING? ................................................................. 32
5. STATE OF FOOD SECURITY AND NUTRITION IN THE WORLD 2020 (SOFI 2020) ....................... 32
Departments / Agencies ............................................................................................. 34
1. DIRECTORATE GENERAL OF FOREIGN TRADE (DGFT) ............................................................. 34
2. NATIONAL COMPANY LAW APPELLATE TRIBUNAL (NCLAT) .................................................... 34
3. HOUSING FINANCE COMPANIES ........................................................................................... 34
4. NATIONAL PRODUCTIVITY COUNCIL (NPC) ............................................................................ 34
5. PETROLEUM AND NATURAL GAS REGULATORY BOARD (PNGRB) ........................................... 35
Miscellaneous............................................................................................................. 36
1. VADHAVAN PORT AND LANDLORD MODEL ........................................................................... 36
2. SHARED ECONOMY .............................................................................................................. 36
3. INDIA’S COAL IMPORTS RISE ................................................................................................. 36
4. WHY OIL PRICES FELL BELOW ZERO? ..................................................................................... 36
5. SHAPES OF ECONOMIC RECOVERY ........................................................................................ 38
6. NATION’S TOP WHEAT CONTRIBUTOR .................................................................................. 39
7. COMPULSORY LICENSING ..................................................................................................... 39
8. NON- PERSONAL DATA ......................................................................................................... 39
www.insightsonindia.com 2 InsightsIAS
INSTA PT 2020 EXCLUSIVE (ECONOMY-PART 2)
NOTES
Schemes / Government Initiatives
1. Vivad Se Vishwas Scheme
• Vivad se Vishwas scheme is a direct tax scheme announced in Budget 2020, for settling tax
disputes between individuals and the income tax department.
• Earlier, the scheme offered complete waiver on interest and penalty to the taxpayers with a
full and final settlement of the dispute if the scheme was availed by March 31, 2020. An
individual opting for settlement after March 31, 2020 was required to pay additional 10 per
cent penalty on the disputed tax amount. However, now till December 31, 2020, you do not
have to pay any penalty.
• As per the scheme income tax disputes settled under it cannot be reopened in any other
proceeding by the income tax department or any other designated authority.
2. Atmanirbhar Bharat Abhiyan
• Prime Minister Narendra Modi announced an economic package totaling Rs 20 lakh crore to
tide over the Covid-19 crisis under ‘Atmanirbhar Bharat Abhiyan’. The Rs 20 lakh crore
package includes the government’s recent announcements on supporting key sectors and
measures by Reserve Bank of India.
• PM Modi said the economic package would be around the 10 per cent of the GDP.
• The special economic package would focus on land, labour, liquidity and laws, and it would
benefit labourers, farmers, honest tax payers, MSMEs and cottage industry.
Measures for improving agricultural infrastructure:
1. Rs 1 lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers.
2. Rs 10,000 crore scheme for Formalisation of Micro Food Enterprises (MFE).
3. Rs 20,000 crore for fisherman through Pradhan Mantri Matsya Sampada Yojana (PMMSY).
4. National Animal Disease Control Programme for Foot and Mouth Disease (FMD) and
Brucellosis launched.
5. Animal Husbandry Infrastructure Development Fund of Rs. 15,000 crore will be setup.
6. Promotion of Herbal Cultivation: Outlay of Rs. 4,000 crore.
7. Beekeeping initiatives – Rs 500 crore.
8. “Operation Greens” run by Ministry of Food Processing Industries (MOFPI) will be
extended from tomatoes, onion and potatoes (TOP) to ALL fruit and vegetables (TOTAL).
Measures for administrative and governance reforms:
1. Amendments to Essential Commodities Act to enable better price realisation for farmers.
2. A Central law will be formulated to provide adequate choices to the farmer to sell their
produce at remunerative price and barrier free Inter-State Trade.
3. A facilitative legal framework to enable farmers to engage with processors, aggregators,
large retailers, exporters etc. in a fair and transparent manner.
What has the government done during the lockdown for the development of agriculture?
1. Rs 30,000 crore as Additional Emergency Working Capital facility through NABARD to enable
RRBs and Cooperative Banks extending farm loans for Rabi post-harvest and Kharif expenses.
2. A mission-mode drive to enable Rs 2 lakh crore credit boost to the farm sector by covering
2.5 crore PM-KISAN beneficiaries under Kisan Credit Card Scheme by December 2020.
3. Minimum Support Price (MSP) purchases of amount more than Rs 74,300 crore, PM KISAN
fund Transfer of Rs 18,700 crore and PM Fasal Bima Yojana claim payment of Rs 6,400 crore
have been made.
4. A new scheme to provide interest subvention @2% per annum to dairy cooperatives for
2020-21 has been launched, also providing additional 2% p.a interest subvention on prompt
www.insightsonindia.com 3 InsightsIAS
no reviews yet
Please Login to review.
