Daily Current Affairs – 2 May, 2022

In News The Goods and Services Tax collection touched an all-time high of over 1.68 lakh crore, the ministry of finance said while citing the improvement in economic activities. About Data This marks a 20 percent increase from the previous year’s level on the back of improved compliance, enforcement action against tax evaders and pick-up […]

In Context The government will review norms of the Design Linked Incentive (DLI) program which envisages to support 100 companies involved in product design in the semiconductor space as part of a Rs 76,000 crore scheme for developing the electronic chip ecosystem in the country,  About Design Linked Incentive (DLI) Scheme. It was announced in […]

In News  Recently, the Reserve Bank of India released a Report on Currency and Finance (RCF). Major Points  RCF estimated 6.5-8.5 percent as a feasible range for medium-term GDP growth with a timely re-balancing of monetary and fiscal policies likely being the first step in this journey. The report reflects the views of the contributors […]

In News Recently, the Indian Railways has announced the closure of the Special Railway Establishment for Strategic Technology and Holistic Advancement (SRESTHA). Key Findings Recommendations of the Principal Economic Adviser Sanjeev Sanyal for Rationalisation of Government Bodies: The restructuring plan of the country’s largest employer and transporter which is resulting in the closure or merger […]

In Context Recently, Discussions were on to link the e-Shram portal with the Pradhan Mantri Suraksha Bima Yojana. The Ministry was working on a mechanism to process accident insurance claims by unorganised workers registered on the e-Shram portal, which has seen over 27 crore registrations so far. About  In Budget Speech 2022-2023, the Finance Minister […]

In News The Indian government is set to launch an Open Network for Digital Commerce (ONDC). About ONDC Open Network for Digital Commerce (ONDC) is an initiative whose objective is to promote open networks for all aspects of exchange of goods and services over digital or electronic networks. ONDC is to be based on open-sourced […]

In News Recently, 600 rice mills in Telangana installed blending machines for rice fortification. About FCI approval: The mills started installing blending machines since the Food Corporation of India had agreed to buy fortified boiled rice while totally rejecting boiled rice. Current issue: The refusal of the Centre to lift boiled rice from the State […]

In News The India-UAE Comprehensive Economic Partnership Agreement (CEPA), the biggest bilateral trade pact, comes into force. About The bilateral trade pact is India’s first in the region and the first comprehensive trade agreement with any country in a decade. It would allow 90% of the country’s exports duty-free access to the Emirates. The CEPA […]

In News Recently, an Indian Administrative Officer (IAS) officer, who resigned in 2019, has been reinstated by the central government. Rules for Resignation A resignation is a formal intimation in writing by an officer of his/her intention or a proposal to leave the IAS, either immediately or at a specified date in the future.  Guidelines […]