About Minimum Support Price Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. MSP is announced every year before the sowing season …
What is meant by “Foreign Exchange Reserve”? Foreign Exchange Reserve indicates the reserves held by RBI in the form foreign currency assets, gold, SDR and reserve tranche. Components of foreign exchange reserve: Foreign Currency Assets– Currencies of foreign countries are …
Context The new labour codes do little to provide better pay and definitive rights to platform workers What is a gig economy? A gig economy is a free market system in which temporary positions are common and organizations hire independent …
About: PM SVANidhi was launched by the Ministry of Housing and Urban Affairs for providing affordable Working Capital loan to street vendors to resume their livelihoods which have been severely affected due to COVID-19 induced lockdown. Objectives of the Scheme …
Central Board of Directors The RBI’s affairs are governed by a central board of directors. Section 8(1)(a) of the Reserve Bank of India Act, 1934, provides that there shall be one Governor and not more than four Deputy Governors to …
What are cess and surcharge? A cess is a tax that is levied by the government to raise funds for a specific purpose. Collections from the Education Cess and Secondary and Higher Education Cess, for instance, are supposed to be …
What is Balance of Payments? Balance of Payments (BoP) statistics systematically summaries the economic transactions of an economy with the rest of the World for a specific period. BoP broadly comprises current account, capital account and changes in foreign exchange …
What is Priority Sector Lending? Priority Sector means those sectors which the Government of India and Reserve Bank of India consider as important for the development of the basic needs of the country and are to be given priority over …