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V-Shaped Economic Recovery Due to Mega Vaccination Drive

V-Shaped Economic RecoveryApprox Read Time: 6 min In News: The Union Minister for Finance recently presented the Economic Survey 2020-21 in the Parliament.The Survey underlines that the year 2020 was dominated by the COVID-19 pandemic and global economic downturn.The lockdowns and social distancing norms brought the already slowing global economy to a stop. Global economic output is estimated to fall by 3.5 percent in 2020 (IMF January 2021 estimates).To deal with this, governments and central banks…


Raise govt-spending to cut out-of-pocket expenditure

Economic Survey 2020-21 over Health SectorApprox Read Time: 4 min In News: The Economic Survey 2020-21 has strongly recommended an increase in public spending on healthcare services. Covid brought focus on healthcare: The Survey observed how the COVID-19 pandemic emphasized the importance of healthcare sector and its inter-linkages with other sectors, showing how a health crisis transforms into an economic and social crisis. Importance of affordable healthcare: The Eco Survey observes that the…


India must continue to focus on Economic Growth to Alleviate Poverty: Economic Survey 2020-21

Recommendations of Economic Survey 2020-21Approx Read Time: 6 min In News: As per the Economic Survey, India’s GDP is projected to record a growth of 11% in 2021-22.The estimate reflects the growth potential, with the continued normalization in economic activities due to the rollout of vaccines.The Economic Survey (ES) also makes several recommendations to support and give a boost to the economy. Recommendations: The Economic Survey has advised the government to continue with…


Eco Survey introduces a bare necessities index

Economic Survey 2020-21Approx Read Time: 6 min In News: The Economic Survey 2020-21 has highlighted the improvement in access to bare necessities like housing, water, sanitation, electricity etc. and their importance. “Basic needs” approach to economic development: Bare necessities include housing, water, sanitation, electricity, clean cooking fuel etc. which are consumed by all the members of the household and which touch the life of every member.Economic Survey says that the “basic…


To boost industries in J&K, centre clears Rs 28,400 crore scheme

New Industrial Development Scheme for Jammu & KashmirApprox Read Time: 5 min In News: The Union Government has formulated a New Industrial Development Scheme for Jammu & Kashmir (J&K IDS, 2021) as Central Sector Scheme for the development of industries in Jammu & Kashmir.The financial outlay of the proposed scheme is Rs.28,400 crore for the scheme period 2020-21 to 2036-37. Need of the scheme: The scheme has been announced in the backdrop of the reorganization of…


GDP to contract 7.7% in current fiscal, advance estimates show

First Advance Estimates of GDP (2020-21)Approx Read Time: 11 min In News: First Advance Estimates of GDP (2020-21) The National Statistical Office (NSO) has released the First Advance Estimates (FAE) for the current financial year (2020-21).According to NSO, India’s gross domestic product (GDP) — the total value of all final goods and services produced within the country in one financial year — will contract by 7.7 percent in 2020-21.The real GDP in…


PM Inaugurates the New Bhaupur- New Khurja Section of Eastern Dedicated Freight Corridor

New Bhaupur - New Khurja Section of Eastern Dedicated Freight CorridorApprox Read Time: 5 min In News: Prime Minister recently inaugurated the 351-km ‘New Bhaupur- New Khurja section’ in Uttar Pradesh of the Eastern Dedicated Freight Corridor (EDFC).He also inaugurated the EDFC’s Operation Control Centre (OCC) at Prayagraj, Uttar Pradesh.The OCC will be the command centre for the entire route of the EDFC and will control and monitor all systems, including train operation and power supply…


How Vadodara corporation plans to raise money via municipal bonds

Municipal BondsApprox Read Time: 4 min In News: The Vadodara Municipal Corporation (VMC) is expected to launch municipal bonds in January, 2021.VMC will become the third Urban Local Body (ULB) in Gujarat to use this method to raise money to fund development work sanctioned under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT).Ahmedabad was the first city in south Asia to launch a municipal bond of Rs 100 crore in 1998. Surat…