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The Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep its short term lending rate or the repo rate unchanged at 4 per cent, in line with market expectations. Announcing the monetary policy, RBI Governor said the central bank will maintain its ‘accommodative stance’ as long as …

The latest edition of the International Monetary Fund’s (IMF) World Economic Outlook has raised its Financial Year (FY) 2021 growth forecast for India to 12.5% from 11.5% estimated earlier in January 2021. Indian economy is expected to grow by 12.5% in 2021 and 6.9% in 2022. In 2020, India’s economy …

Recently, Indian Railways completed the arch closure of the iconic Chenab Bridge in Jammu & Kashmir. About Chenab Bridge: It is the world’s highest railway bridge and is part of the Udhampur-Srinagar-Baramulla rail link project (USBRL). The Project was declared as a Project of National Importance in March 2002. This …

After the recent orders from the Food Corporation of India (FCI), the farm unions warned that the Centre’s insistence on direct payment of Minimum Support Price (MSP) could derail the crop procurement process. Direct Payment of Minimum Support Price (MSP): The Centre wants to make direct online MSP payment to …

Recently, the Ministry of Ports, Shipping & Waterways celebrated the 58th National Maritime Day (5th April). Maritime India Vision-2030, was also discussed at the occasion. National Maritime Day is celebrated every year on 5th April to commemorate the maiden voyage of the first Indian flag merchant vessel ‘S.S LOYALTY’ from …

Indian Navy Ships INS Satpura and INS Kiltan alongwith P8I Long Range Maritime Patrol Aircraft are participating, for the first time in multilateral maritime exercise La Pérouse, being conducted in the Eastern Indian Ocean Region from 5th to 7th April 2021. Post conduct of La Perouse, the Indo-French Naval exercise …

Since the advent of the year 2021, there has been a series of forest fires in many states of India, including in Wildlife Sanctuaries. Forest Fires: Also called bush or vegetation fire or wildfire, it can be described as any uncontrolled and non-prescribed combustion or burning of plants in a …

In a first, US space agency NASA is preparing to fly a mini-helicopter on Mars. For this NASA has sent a small Ingenuity Helicopter with Perseverance rover to Mars. With the help of this helicopter, untouched aspects of Mars will be explored. NASA has even released its picture for the …

Home Minister paid tributes to police personnel martyred in the encounter with Naxalites in Chhattisgarh in April 2021. Separate joint teams of security forces, over 2,000 in number, had launched a major anti-Naxal operation from Bijapur and Sukma districts in the South Bastar forests, considered as the Maoist stronghold. The …

The Godavari water is to be released into the irrigation canals in East and West Godavari districts from the Polavaram irrigation project site up to 15th April 2021 against the previous deadline of 31st March 2021. Work on the cofferdam is scheduled to commence in April. Godavari River: The Godavari is the largest Peninsular river system. It is …

Recently, the Union Cabinet has approved the Central Sector Scheme – “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)” entailing an outlay of Rs. 10,900 crore. Important points: In order to boost domestic manufacturing and cut down on import bills, the central government in March 2020 introduced a PLIscheme that aims to give companies incentives on …

According to the recent data from the Reserve Bank of India (RBI), India’s Foreign Exchange (Forex) reserves declined by USD 2.986 billion to reach USD 579.285 billion in the week ended 26th March 2021. The gold reserve component of the Forex Reserve increased whereas the other components – Special Drawing Rights (SDR), the Foreign Currency …

Recently, the government has extended the Rs. 3-lakh-crore Emergency Credit Line Guarantee Scheme (ECLGS)until 30th June 2021, and also widened its scope to new sectors, including hospitality, travel and tourism. ECLGS was rolled out in May 2020 as part of the Centre’s Atmanirbhar packagein response to the Covid-19 crisis. The objective was to support small businesses struggling to …

Recently, the first farm-based solar power plant under the Prime Minister’s KisanUrja Suraksha EvamUtthanMahabhiyan (PM-KUSUM) schemehas come up in Jaipur (Rajasthan) district’s Kotputli tehsil with a provision for production of 17 lakh units of electricity every year. Important points: The PM-KUSUM scheme was launched by the Ministry of New and Renewable Energy …

Preliminary data released by the government showed that India’s trade deficit in goods widened to USD 14.11 billion in March 2021 from USD 9.98 billion during March 2020. Important points: Merchandise Exports: India’s merchandise exports in March 2021 were USD 34.0 billion as compared to USD 21.49 billion in March 2020, an increase of 58.23%. …

Government has made mandatory that a GST taxpayer having turnover of more than 5 crore rupees in the preceding financial year will have to furnish 6 digits Harmonised System of Nomenclature HSN Code, or Service Accounting Code, SAC from April 1, 2021 on the invoices issued for supplies of taxable …

The government has pushed back deadlines for coal-fired power plants to adopt new emission norms by up to three years, and allowed utilities that miss the new target to continue operating after paying a penalty, according to a notice. Important points: India had initially set a 2017 deadline for thermal …

The Chief of Defence Staff (CDS) operationalised and dedicated to the Services 3rd Joint Logistics Node (JLN) in Mumbai. The third JLN was operationalised as part of measures to boost tri-service integration and resource optimisation. The JLN would enhance joint interoperability between the Services and go a long way in improving the …

The Centre plans to issue a 14-digit identification number to every plot of land in the country within a year’s time. The Unique Land Parcel Identification Number (ULPIN) scheme has been launched in 10 States in the year 2021 and will be rolled out across the country by March 2022. Important points: Being described …

Recently, the National Green Tribunal (NGT) directed the Haryana State Pollution Control Board (HSPCB) to strengthen its capacity and the Central Pollution Control Board (CPCB) to form a uniform recruitment criteria. The order was to ensure better monitoring for improved compliance of environmental norms. Earlier in January 2021, the Supreme Court (SC) had taken suo …