Economy Current Affairs

The Government of India and West Bengal signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for a US$145 million project to improve irrigation services and flood management in the Damodar Valley Command Area (DVCA) in West Bengal. The loan sanctioned under West Bengal Major Irrigation and Flood Management Project will benefit about 2.7 […]

Finance Minister has announced the fourth tranche of economic support the Indian Economy’s fight against COVID-19. The announcement focusses on reforming 8 sectors which are (1) coal, (2) minerals, (3) defence production, (4) airports and airspace management, (5) MRO, (6) power distribution of companies in UTs, (7) space and (8) atomic energy. Coal- Commercial mining

West Bengal state government, Central government of India and the Asian Infrastructure Investment Bank (AIIB) signed a loan agreement for a $145 million project to improve flood management and irrigation services in the Damodar Valley Command Area (DVCA) in West Bengal state. The West Bengal Major Irrigation and Flood Management Project aims to benefit about

Finance minister Nirmala Sitharaman has unveiled the third tranche of government’s Rs 20 lakh crore economic package in a bid to revive the Indian economy that has taken a slump due to ongoing nationwide lockdown to curb the spread of the coronavirus pandemic. GoI is to create a facilitative legal framework to enable farmers to

New Development Bank of BRICS countries have fully disbursed $1 billion emergency assistance loan to India to help it contain the spread of COVID-19 and reduce human, social and economic losses caused by the COVID-19 pandemic. The ‘Emergency Assistance Program Loan’ to India was approved by the NDB Board of Directors on 30 April. The

The government released ₹6,195.08 crore to 14 states as the second equated monthly instalment of the Post Devolution Revenue Deficit Grant as recommended by the Finance Commission. The grant was recommended by the 15th Finance Commission (XVFC), and an equal first installment of the grant was issued by the Centre to states on 14 March.

Union Agriculture Ministry launched integration of 177 new Mandis with the National Agriculture Market to strengthen agriculture marketing and facilitate farmers to sell their harvested produce through the online portal. The 177 new mandis are from 10 States and Union Territories (UTs). The mandis integrated are as follows: Gujarat (17), Haryana (26), J&K (1), Kerala

The US’ Centres for Disease Control and Prevention (CDC) has committed USD 3.6 million to assist India’s response to the COVID-19 pandemic and the aid will support prevention, preparedness and response activities. The CDC announced that it is to work with local partners to help India to strengthen its public health workforce. The initial tranche

State Bank of India (SBI) has cut its Marginal Cost of Funds based Lending Rate (MCLR) by 15 basis points (bps) across all tenors. It also reduced interest rates on retail term deposits (below ₹2 crore) by 20 bps for a tenor of up to three years. As a measure to safeguard the interests of

Union Minister for Finance & Corporate Affairs has launched INR-USD Futures and Options contracts on the two International Exchanges, viz BSE’s India INX and NSE’s NSE-IFSC, at GIFT International Financial Services Centre at Gandhinagar today through video conference. The launch of INR-USD contracts at the exchanges in GIFT-IFSC is a step in bringing the international