15 Economy Related Short-Hand Notes (2 Mins) Revision – Current Affairs Till Dec 10 – Coming Exams – Part V
• CCEA > hike MSP for major rabi crops > wheat, gram and pulses > because of acute shortage that country was facing >
• FICCI, 1927 > non-govt and non-profit org > enhance competitiveness > enhancing business opportunities
• Asian Development Bank > loan to 2nd Bangladesh-India grid connectivity project > under ambitious South Asia Sub-regional Co-operation (SASEC) program > promote regional prosperity through improved cross-border links in trade, power, road and rail links > will increase current capacity from 500 to 1000 MW > from Bheramara in western Bangladesh to Bahrampur in Odisha > SASEC, 2001 has BD, Bhutan, India, Maldives, Nepal and SL
• Tata steel > plant in Kalinganagar Odisha > largest green field project in India
• CCEA > approved 10% disinvestment in Coal India Ltd > government owns 79.65% stakes in it > disinvestment target of Rs. 69,500 crores > CIL HQ Kolkata >> Contributes to 81% of India’s coal needs
• CCI > penalty on three airlines > Jet, Indigo and Spicejet > acts in collusion with each other to fix fuel surcharge rates > hence affecting competitive prices > CCI > quasi-judicial body > to eliminate adversely affecting competition in India > Predecessor was MRTPC before 1991 > established under CA, 2002
• CCEA > measures > to increase pulses production > to deal food inflation > if prices fell below minimum support prices then procurement at MSP under price stabilization fund by agencies like FCI, NAFED, SFAC etc. > India faces shortage even after being highest producer of pulses in the world > under NFSM improved seeds, pest management, water savings devices etc. for pulses
• RBI 5th bi-monthly monetary policy review didn’t changed anything and kept everything as it is viz.
Repo rate: 6.75%.
Reverse repo rate: 5.75%
MSF and Bank Rate: 7.75%
CSS: 4% of NDTL
– Liquidity under overnight repos at 0.25% and under 14-day tern repos up to 0.75% of NDTL
• Credit rating agency Brickwork report gave a insight about various activities in states of India viz.
– Biggest State Economy: Maharashtra
– Manufacturing: Gujarat
– Services Sector: Karnatka
– Fastest Growing: Bihar
– Slowest Growing: Telangana
• After 100% approval for FDI in railway > 1st major investment by GE and Alstom > Rs. 40K crores > to set up a locomotive factory in Madhepura (Bihar) – electric and diesel locomotive factory in Marhowrah (Bihar) – part of make-in-India initiative