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Understanding IMF Bailouts

In News IMF agrees to consider bailout plans for Sri Lanka amid an economic crisis in the country  About The International Monetary Fund (IMF) last week confirmed a $3 billion bailout plan for Sri Lanka’s struggling economy. The IMF plays a key role in promoting global economic stability through its policies, especially bailouts which have […]

India’s first cable-stayed rail bridge

In News Anji Khad bridge in Jammu’s Reasi district is a major step in the Indian Railways’ ambitious plan to seamlessly connect Kashmir to Jammu, and the rest of India. About the Project Anji Bridge, the first cable-stayed railway bridge in the country and  is part of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project. Anji River […]

Mega Textile Parks

In News  Recently the government announced seven mega textile parks under the scheme PM Mega Integrated Textile Regions and Apparel (PM MITRA). More about the PM MITRA Scheme Key highlights: The seven Mega Integrated Textile Region and Apparel (PM MITRA) parks will be set up at Greenfield or Brownfield sites located in different states. It […]

Electronics Manufacturing Cluster (EMC)

In News Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT announced the approval for setting up the Electronics Manufacturing Cluster (EMC) at Dharwad which is expected to create over 18,000 jobs. About The project is being set up at Kotur-Balur Industrial Area in the Dharwad District of Karnataka under EMC […]

Pradhan Mantri Ujjwala Yojana(PMUY)

In News Recently, Cabinet has approved targeted subsidies to Pradhan Mantri Ujjwala Yojana Consumers. About It has approved a subsidy of Rs.200 per 14.2 kg cylinder for up to 12 refills per year.  The subsidy is credited directly to the bank accounts of the eligible beneficiaries. Indian Oil Corporation Ltd. (IOCL), Bharat Petroleum Corporation Ltd. […]

Amendment to Finance Bill 2023

In News Recently, the Union Government has amended the Finance bill 2023 to simplify the tax system.  Important Highlights Of The bill: The Union Government has scrapped the long-term capital gains treatment (with indexation benefits) for income from debt mutual funds and other schemes that invest up to 35% in equity shares of domestic companies. […]

Bedaquiline

In News Recently, the Indian Patent Office rejected Johnson & Johnson’s attempt to extend its monopoly on manufacturing Bedaquiline  in India. About Bedaquiline is an oral  medication used to treat active tuberculosis. it is particularly used to treat multi-drug-resistant tuberculosis (MDR-TB)  It has a unique mechanism of action, targeting the adenosine triphosphate (ATP) synthase enzyme […]

India sees an increase in Sugar Exports

In News  India has become the world’s largest producer and consumer of sugar. About Sugarcane is a tall, perennial grass used to make sugar, ethanol and paper.  Sugar industry impacts the livelihood of about 50 million sugarcane farmers and around 5 lakh workers directly employed in sugar mills. Crop Conditions:  Temperature: Between 21-27°C with hot […]

PM MITRA scheme

In News The Ministry of Textiles will shortly name the States identified for implementation of Prime Minister MITRA (Mega Integrated Textile Region and Apparel) scheme. About States are identified through the challenge route and the PM MITRA parks will provide the best ecosystem for the textile industry to be collectively present in one location, with […]

Internationalisation of the Indian Rupee

In News  RBI Deputy Governor emphasizes the need for better rupee volatility management to deal with risks of internationalization. About The Reserve Bank of India is making efforts to reduce the use of the US dollar to stabilize the Indian rupee. One of the initiatives is allowing invoicing of international trade in Indian rupees instead […]