The sudden return of quantity planning in the wake of COVID-19

Context One of the defining features of a war economy is that economic thinking is focused on quantities rather than prices. Much of the ongoing global response to the covid-19 pandemic is still in crisis-Keynesian mode. The nation-state has become the income supporter, financier and consumer of last resort. However, Read More …

A pandemic in an unequal India

Context The official strategies to deal with the virus place the responsibility on citizens, a majority without privilege, to fight the virus. COVID-19 pandemic lashes India with severity: If the COVID-19 pandemic lashes India with severity, it will not be just the middle class who will be affected. India’s impoverished millions are Read More …

Fully Accessible Route (FAR)

Context The Reserve Bank of India (RBI) has introduced a separate channel, namely ‘Fully Accessible Route’ (FAR), to enable non-residents to invest in specified government bonds with effect from April 1. About Fully Accessible Route (FAR) The move follows the Union Budget announcement that certain specified categories of government bonds Read More …

Foreign Trade Policy 2015-2020 extended for one year

Context The Union Commerce and Industry Ministry has announced changes in India’s Foreign Trade Policy (FTP). The Govt. has decided to continue relief under various export promotion schemes by granting an extension of the existing Policy. Foreign Trade Policy 2015-20 It provided a framework for increasing exports of goods and Read More …

PM – CARES Fund

Context The government has set up the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) to deal with any kind of emergency or distress situation like posed by the COVID-19 pandemic. This Fund has been set up owing to a number of requests made by the people to support the Read More …

Employees’ Pension Scheme (Amendment) Scheme, 2020

Context The Union Ministry of Labour & Employment has informed about the total enrollments under EPS. About Employees Pension Scheme (EPS) EPS is a social security scheme that was launched in 1995 and is facilitated by EPFO. The scheme makes provisions for pensions for the employees in the organized sector Read More …

Unnat Bharat Abhiyan 2.0

Context The Union Minister for Human Resource Development has informed Lok Sabha about the progress of the Unnat Bharat Abhiyan (UBA). Unnat Bharat Abhiyan 2.0 Unnat Bharat Abhiyan 2.0 is the upgraded version of Unnat Bharat Abhiyan 1.0. The scheme is extended to all educational institutes; however, under UBA 2.0 Read More …

Essential Commodities Act

Context The Price Monitoring Division (PMD) in the Department of Consumer Affairs is monitoring the retail and wholesale prices of 22 essential food commodities due to increased panic buying by customers. Essential Commodities Act The ECA is an act which was established to ensure the delivery of certain commodities or Read More …

Potential Fishing Zone (PFZ)

Context The Indian National Centre for Ocean Information Services (INCOIS), Ministry of Earth Sciences (MoES), Hyderabad has reported that Oceansat Satellite data from Indian Space Research Organization (ISRO) are used to prepare the Potential Fishing Zone (PFZ) advisories on the potential rich fishing areas and provide to the sea faring Read More …

Capital to Risk Weighted Assets Ratio

Context The Cabinet Committee on Economic Affairs, chaired by Prime Minister has given its approval for continuation of the process of recapitalization of Regional Rural Banks (RRBs) by providing minimum regulatory capital to RRBs for another year beyond 2019-20, that is, up to 2020-21 for those RRBs which are unable Read More …