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e-Shram Portal

In News Over four crore unorganised sector workers had been registered on the e-Shram portal in under two months of its launch. About Once registered on the portal, the unorganised workers would be able to access the benefits of various welfare schemes easily. Image Courtesy: PIB  e-Shram Portal Launch:  The portal was launched on August […]

Nobel Prize for Economic Sciences, 2021

In News The 2021 Nobel Prize in Economic Sciences has been awarded in one half to Canadian-born David Card and the other half jointly to Israeli-American Joshua D Angrist and Dutch-American Guido W Imbens. Unlike the other Nobel prizes, the economics award wasn’t established in the will of Alfred Nobel but by the Swedish central […]

Welfare Framework of India’s Migrant Construction Workers

In News The COVID-19 pandemic had widespread and devastating consequences to communities and enterprises in India and across the globe. The situation was particularly grim for the 453.6 million internal migrants in India. It was evident by the unprecedented ‘reverse migration’ witnessed during the pandemic. e-Shram portal has been launched to register 38 crore unorganised […]

New Bad Bank Structure

In News Recently, the government has approved extending a guarantee of Rs 30,600 crore to the National Asset Reconstruction Company Ltd (NARCL) to help clear the banking sector’s stressed assets of around Rs 2 lakh crore in a time-bound manner.  Key Points A total of Rs 90,000 crore of stressed assets, against which banks have […]

GST collections in August

In News  Gross Goods and Services Tax (GST) revenues in August fell to ?1.12 lakh crore from ?1.16 lakh crore in July.  The Finance Ministry termed it an indicator that the economy is in the midst of a ‘fast’ recovery. Major Points  The August GST revenues are 30% higher than the same month a year […]

Supreme Court Ruling One Nation One Ration Card For Migrants

In News The Supreme Court has directed the government to ensure that none of the estimated 38 crore migrant workers goes hungry during the pandemic. About The Supreme Court directed all states and Union Territories (UT) to implement the One Nation, One Ration Card (ONORC) system by 31st July 2021. The scheme allows migrant labourers […]

UN MSMEs Day

In News The United Nations commemorates 27th June as World Micro, Small and Medium Enterprises (MSMEs) Day. About History: The United Nations (UN) designated this day as Micro, Small and Medium-sized Enterprises Day through a resolution passed in the UN General Assembly in April 2017. In May 2017, a program titled ‘Enhancing National Capacities for […]

RBI Annual Report for 2020-21

In News Recently, the Reserve Bank of India (RBI) has released its annual report for 2020-21. Key Highlights Impact of Covid-19 Waves While the economy has not moderated to the extent during the first wave of Covid-19, the surrounding uncertainties can act as a deterrent in the immediate period. The onset of the second wave […]

Payment Banks

In News The Reserve Bank of India (RBI) has increased the maximum balance limit for payments banks to Rs 2 lakh from Rs 1 lakh earlier. About The extant ‘Guidelines for Licensing of Payments Banks’ issued on November 27, 2014 allow payments banks to hold a maximum balance of Rs 1 lakh per individual customer. […]