Category: Test 1

Growth prop: On RBI repo rate cut Six-member monetary policy committee (MPC) headed by RBI Governor lowered the repo rate by 25 basis points to 6.25 per cent, repo or repurchase rate is where RBI lends money to commercial banks.RBI last cut rates in August of 2017. RBI has taken this decision because India’s consumer… Continue reading Growth prop: On RBI repo rate cut

Only 50% of PAN linked to Aadhaar Supreme Court ruled that the linking of PAN with Aadhaar is mandatory to file income tax returns from April 1, 2019 onward, it is mandatory for even those who do not need to file returns. According to Section 139AA of the Income Tax Act, not only is PAN… Continue reading Only 50% of PAN linked to Aadhaar

Taxpayers, MPs, MLAs can’t avail farm income support Government has announced income support scheme for farmers in Interim Budget 2019 which envisages the payment of ₹6,000 per annum to marginal and small farmers (each holding cultivable land up to 2 hectares). However, it also exclude some section of the society such as: a) former and… Continue reading Taxpayers, MPs, MLAs can’t avail farm income support

Cabinet clears amendments to Banning of Unregulated Deposit The Banning of Unregulated Deposit Schemes Bill 2018 was introduced in Parliament on July 18, 2018 which bans unregulated deposit scheme not registered with the government. The bill will effectively tackle the menace of illicit deposit-taking activities and prevent such schemes from duping poor and gullible people.… Continue reading Cabinet clears amendments to Banning of Unregulated Deposit

Tough-talking: On Taliban reconciliation process The Taliban reconciliation process is moving at a much faster pace than was expected, as seen by recent meetings of Taliban with US representatives in Doha and Russian officials in Moscow, but India has not been included in these meetings. The US and Russia have accepted the idea that (a)… Continue reading Tough-talking: On Taliban reconciliation process

Expert panel defers clearance to Andaman resort project Clearance for the proposal by the Andaman and Nicobar Islands Integrated Development Corporation Limited (ANIIDCL) to develop a premium an Island Resort at Lalaji Bay, Long Island, Andaman and Nicobar Islands has been deferred by an Expert committee of the Union Environment Ministry The project has been… Continue reading Expert panel defers clearance to Andaman resort project

First career portal for students launched in Rajasthan The Rajasthan Government, in collaboration with United Nations Children’s Fund (UNICEF) has launched Rajiv Gandhi Career Portal to provide employment-oriented education to students from classes 9 to 12 The portal aims to provide career guidance with information on entrance examinations, scholarships and employment-oriented courses. The portal is… Continue reading First career portal for students launched in Rajasthan

Contempt pleas against Prashant Bhushan: Supreme Court may curb advocates from speaking on cases The Attorney General of India filed contempt proceedings against Prashant Bhushan for tweeting wrong facts about government on an ongoing case which could mislead the court. Supreme Court said that to protect the judiciary it would examine the possibility of imposing… Continue reading Contempt pleas against Prashant Bhushan: Supreme Court may curb advocates from speaking on cases

Spending on Government subsidy on rise Expenditure on subsidies is expected to be at 9.83% of total expenditure in 2019-20, up from the 9.65% in 2018-19. Spending on subsidy has been falling consistently from 18.2% in 2012-13 to 8.15% in 2017-18. However, the reason for reversal this year accounts to sharp rise in food and… Continue reading Spending on Government subsidy on rise

Russia to develop new missile systems by 2021 US recently decided to withdraw from the Intermediate-Range Nuclear Forces (INF) agreement, signed between US and Russia in 1987, as US believes that Russia has violated the treaty by discreetly developing missiles. Following US withdrawal, now, Russia has reciprocated that it would develop two new missile systems… Continue reading Russia to develop new missile systems by 2021