Status Paper on Government Debt released

On May 22, 2020, the Ministry of Finance released Status Paper on Government Debt 2018-19. According to the report, the overall debt of centres and states declined by 68.7% in March 2018 to 68.6% in 2019. Highlights The Status Paper on Government Debt is being produced by the Ministry of Finance since 2010. Current debt ..

Month: Current Affairs - May, 2020

Category: Economy & Banking Current Affairs

Topics: Consolidated Fund of India • Debt • debt-to-GDP ratio • external debt • government liabilities • Ministry of Finance

UNCTAD cancels 1 trillion USD debts owed by developing countries

The United Nations Conference on Trade and Development (UNCTAD) has announced that it is to cancel over 1 trillion USD of debt owed by developing countries. Highlights According to the UNCTAD, over 64 low-income countries spend more on debts than their health systems. They are now struggling with growing debt burden to plummet prices of ..

Month: Current Affairs - April, 2020

Category: India Nation & States Current Affairs

Topics: COVID-19 • Debt • Economic growth • G20 • Gobal Debt Deal • High-middle income nation • UNCTAD • United Nations

India attends Development Committee Meeting of IMF-World Bank

On April 17, 2020, India attended the Development Committee meeting of World Bank-International Monetary Fund. India was represented by the Finance Minister Smt Nirmala Sitaraman. Highlights India participated in the 101st meeting of the development committee that was held through video conference. The experts that attended the meet discussed response to COVID-19 emergency and COVID-19 ..

Month: Current Affairs - April, 2020

Category: International Current Affairs

Topics: COVID-19 • Debt • developing countries • IMF • India-IMF • india-world bank • International Development Association • nirmala sitaraman • World Bank

15th Finance Commission to set up panel to examine fiscal and debt situation of Centre and States

The Fifteenth Finance Commission is to set up a panel soon, which will examine the fiscal and debt situation of the Centre and states. This panel is to be headed by the Chairman of the 15th Finance Commission N.K.Singh.  It will present a road map on the lines of the erstwhile Fiscal Responsibility and Budget ..

Topics: Debt • Fifteenth Finance Commission • Fiscal Responsibility and Budget Management Act • RBI Governor

What is Counter Cyclical Fiscal Policy of GoI?

The Government of India has adopted “Counter Cyclical Fiscal Policy” in order to decrease the Economic Slow Down in the country. The Economic Chief Advisor Subramanian at the Express Adda event in Mumbai highlighted that Counter Cyclical Fiscal Policy is the only way forward to create additional fiscal headroom Highlights The GoI is in the ..

Month: Current Affairs - February, 2020

Category: Economy & Banking Current Affairs

Topics: 5 Trillion Dollar Economy • Debt • Economic Slowdown • Economic Survey • Expenditure