Emergency Credit Line Guarantee Scheme Context: The Union Budget for 2022-23 has announced several measures for the micro, small and medium enterprises (MSMEs) sector that included extension of the Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023. Background: Union Finance Minister […]
Budgetary Allocation to MEA Context: The Budget has allocated funds for projects related to Afghanistan. The Ministry of External Affairs will have ₹200 crore to spend on Afghanistan. The MEA will also dedicate ₹600 crore for Myanmar which is currently reeling from a civil war […]
GIFT City Context: Taking forward its efforts to further promote the International Financial Services Centre (IFSC) in Gujarat, the government has proposed Income Tax incentives to promote various business activities such as ship leasing and financing, offshore fund management and offshore banking activities […]
National Ayush Mission Context: Cost effective Ayush services under the National Ayush Mission (NAM) have gotten major boost in the Union Budget 2022 presented by Finance Minister Nirmala Sitaraman today. The total allocation of budget to Ayush Ministry in last 7 years has increased […]
PM GATISHAKTI NATIONAL MASTER PLAN Context: PM GatiShakti is a transformative approach for economic growth and sustainable development. The approach is driven by seven engines, namely, Roads, Railways, Airports, Ports, Mass Transport, Waterways, and Logistics Infrastructure. While presenting the Union Budget 2022-23 in Parliament […]
Virtual Digital Assets Context: Finance Minister Nirmala Sitharaman, in her Budget 2022 speech on Tuesday (February 1), announced a 30 per cent tax on income from virtual digital assets. She said that there has been a phenomenal rise in such transactions and the magnitude […]
Submarine Cables Context: Tonga, an archipelago situated along the series of fault lines called the ‘Ring of Fire’ in the Pacific region, is quite prone to earthquakes and volcanic activities. On 15 January 2022, the Hunga Tonga–Hunga Ha’apai volcano, which is 65 kms north […]