The Reserve Bank of India (RBI) has released the Monetary Policy Report (MPR) for the month of August 2021. It kept the policy rate unchanged for the seventh time in a row. And appealed to the centre and states to reduce taxes on fuels to curb inflationary pressures. Monetary Policy Report The MPR is published by …

The Government e-Marketplace (GeM) system has resulted in a 10% savings in public procurement costs in five years, but has still tapped only 5% of India’s total government purchases of about Rs 20 lakh crore a year. 56% of the order value processed through the GeM portal has been delivered by Micro, Small and Medium …

Recently, the Prime Minister released the 9th instalment of financial benefit under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Further, the Prime Minister also interacted with farmer beneficiaries during the event. Important points: Under the scheme, the Centre transfers an amount of Rs 6,000 per year, in three equal instalments, directly into the bank accounts of all landholding …

World Tribal Day or International Day of the World’s Indigenous Peoples is observed on 9th August every year. It is aimed at promoting and protecting the rights of the world’s indigenous population and to acknowledge the contributions that indigenous people make towards world issues such as environmental protection. Important points: The day recognizes the first …

The India Plastics Pact, the first in Asia, will be launched in September in collaboration with Confederation of Indian Industries (CII) and World Wide Fund for Nature (WWF). Recently, a report published on closing the plastic circular Gap, suggested that there is a dire need to make large scale global interventions to manage plastic waste. …

Recently, the Intergovernmental Panel on Climate Change (IPCC) released the first part of its Sixth Assessment Report (AR6) titled Climate Change 2021: The Physical Science Basis. It is prepared by the scientists of Working Group-I. The two remaining parts would be released in 2022. It noted that global net-zero by 2050 was the minimum required to keep the temperature rise to 1.5 …

Recently, Khadi and Village Industries Commission (KVIC) has secured Patent registration for its innovative Plastic-mixed Handmade Paper developed to reduce plastic menace from nature. Important points: The plastic-mixed handmade paper (which is recyclable and eco-friendly) was developed under Project REPLAN (REducing PLAstic from Nature). The project was launched in September 2018 as part of KVIC’s commitment to Swachh Bharat Abhiyaan It …

Recently, the Income Tax (I-T) Department notified three official email IDs to register grievances, under the Faceless or e-Assessment Scheme. The Prime Minister in August 2020 announced three key structural tax reforms under the ‘Transparent Taxation – Honouring the Honest’ platform- faceless assessment, faceless appeal and taxpayers’ charter to reduce tax disputes. …

Recently, Ministry of Social Justice and Empowerment has launched ‘PM-DAKSH’ (Pradhan Mantri Dakshta Aur Kushalta Sampann Hitgrahi) Portal and ‘PM-DAKSH’ Mobile App to make the skill development schemes accessible to the target groups – Backward Classes, Scheduled Castes and Safai Karamcharis. Important points: PM-DAKSH Yojana is being implemented from the year 2020-21. Under this, eligible target groups are …

Recently, the former foreign secretary of India, Vijay Gokhale in his book claimed that the Left parties in India were influenced by China in their decision to oppose the Indo-US nuclear deal. Although with the Indo-US nuclear agreement, India got a special Nuclear Supplier Group (NSG) waiver, the progress of Greenfield projects is slow. Greenfield Projects: A greenfield project …