Author: prashant shekhar

News: World Banks’s World Development Report 2024 has brought into focus the phenomenon of the ‘middle income’ trap. 1. World Development Report: It is an annual report published by the World Bank that provides invaluable insights on a specific aspect of global development. It focuses on themes like economic growth, sustainable development, and poverty reduction.… Continue reading Can India escape middle- income trap?

News: While responding to a Right to Information (RTI) application, Ministry of Home Affairs said that information on applicants who became Indian citizens under the Citizenship (Amendment) Act, 2019 is not readily available. 1. Citizenship (Amendment) Act, 2019: This Act amended the Citizenship Act, 1955 to fast-track Indian citizenship to Hindus, Sikhs, Buddhists, Jains, Parsis… Continue reading Info on CAA beneficiaries is not readily available: MHA

News: The Parliamentary committee on finance has asked the Ministry of Corporate Affairs to explain a drop in funding for some regulators, like NFRA, CCI, in the revised estimates for FY24. It has also sought the track record of certain regulators, like SFIO, in handling cases. 1. National Finance Reporting Authority (NFRA): Its function is… Continue reading Panel asks MCA to explain funding cuts for regulators

News: World Wildlife Fund’s flagship report states that monitored global wildlife population has declined by 73% in the last 50 years. The report also highlights the alarming decline of three vulture species, white-rumped vulture, Indian vulture, slender billed vulture, in India. 1. Living Planet Report: It is a biennial report that comprehensively studies the trends… Continue reading Wildlife population declined by 73% in 50 years: WWF Report

News: The Calcutta High Court has called for a response from the Union and West Bengal governments over the stalled payments of unemployment allowance to MGNREGS beneficiaries. 1. Mahatma Gandhi National Rural Employment Guarantee Act, 2005: It is a centrally sponsored scheme under the Ministry of Rural Development. 2. It is a demand driven scheme… Continue reading Calcutta HC seeks response of Centre, Bengal on stalled MGNREGS wage payments

News: Prime Minister will visit Laos to attend the 21st ASEAN-India and the 19th East Asia Summit. 1. Association of Southeast Asian Nations (ASEAN): It is a regional intergovernmental organization comprising 10 Southeast Asian countries to promote political and economic cooperation and social stability among its member nations. 2. It was established in 1967 in… Continue reading Modi to hold bilateral talks with leaders at ASEAN- India summit

News: RBI’s Monetary Policy Committee voted in favor of maintaining benchmark interest rate at 6.5%, but kept the doors open for future rate cuts by shifting its policy stance from ‘withdrawal of accommodation’ to ‘neutral’ 1. Monetary Policy Committee (MPC): It is a statutory body under the RBI Act, 1934. 2. It is responsible for… Continue reading RBI holds interest rate at 6.5%, changes stance on future cut

News: The Union Cabinet has approved continuation of supply of free fortified rice under various welfare schemes like PMGKAY from July 2024 to December 2028. This move will address anaemia and micronutrients deficiency. 1. Rice Fortification: It is the addition of Fortified Rice Kernels (FRK), containing micronutrients such as iron, zinc, folic acid, vitamin B12,… Continue reading Union cabinet gives nod for continuation of free fortified rice supply till Dec 2028