18 Apr, 2020

  • RBI to pump in Rs. 1 lakh crore, Helping a lending hand - Editorial, NBFC gets Rs. 50,000 crore liquidity booster, Moratorium period will not count for NPA purpose: RBI, Industry hails RBI move (Economy)
  • A season of change - Editorial (Geography & Environment)
  • Minor Forest Produce in Exemption List - Article (Polity & Governance)
  • A virus, social democracy and dividends for Kerala - Lead Article (Polity & Governance) (Benefits of Social Democracy in Kerala, Welfare State, DPSP)
  • Reference - Institutional fixes and the need for ethical politics (Anti-Defection - 20-03-20) (Polity & Governance)
  • Question for the Day

Prelims Quiz

    Solution.

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    Description

    A season of change

    In the season of the abnormal, the IMD has announced that the monsoon this year would likely be normal.

    • What is the procedure which the agency follows for predicting the Monsoon?
    • So what does “Normal” means?
    • So do we take this forecast seriously?
    • Has IMD made changes in its models?
    • Why were these changes made?

     

    RBI to pump in 1 Lakh Crore (Pg. No.01) + Helping a lending hand (Pg 6) + NBFCs get 50000 Cr liquidity booster

    The outbreak of COVID-19 has put economic activity and financial markets across the world under severe stress. According to IMF, the global economy is expected to plunge into the worst recession since the Great Depression, far worse than the Global Financial Crisis. The IMF has named it as the ‘Great Lockdown’, estimating the cumulative loss to global GDP over 2020 and 2021 at around 9 trillion US dollars which is far greater than the economies of Japan and Germany, combined. The Indian Economy expected to grow at 1.9% in 2020, which is far lower than its average GDP growth rates. Hence, in response, the RBI had announced economic package on March 27, 2020. Based on the evolving macro-economic situation, the RBI has now decided the second set of reforms.

    • Issuance of Targeted LTROs
    • Liquidity Coverage Ratio reduced to 80%
    • Refinancing Facilities for All India Financial Institutions (AIFIs)
    • Reduction in the Reverse Repo
    • Increase in Ways and Means Advances for States
    • Exemption from Distribution of Dividend
    • Standstill for Asset Classification

     

    Minor Forest Produce in Exemption List

    Ministry of Home Affairs (MHA) has issued an order to exempt certain activities regarding Minor Forest Produce, Plantations, NBFCs, Cooperative Credit Societies and Construction in Rural Areas from Lockdown Restrictions to fight COVID-19.

     

    A virus, social democracy, and dividends for Kerala

    In the present situation of lockdown and fighting the pandemic, the article highlights that there are comparative advantages for states following social democracy.

    • Steps taken by Kerala government
    Comments

    Anjali 2 months ago

    Rajat sharma 2 months ago

    👍👍😊