Finance Commission Current Affairs, GK & News
Finance Commission
Finance Commission of India is established by President of India as per Article 280 of the constitution. The first finance commission was established in 1951. The Constitutional requirement for setting up a Finance Commission in India was an original idea, not borrowed from anywhere. That is why it is called the original contribution. Article 280 ..
..Read MoreRs 7,183.42 crore Revenue Deficit Grant
Recently, the Department of Expenditure (Ministry of Finance) released Rs 7,183.42 crore as a revenue deficit grant to 14 states. This is the 2nd monthly installment of the Post Devolution Revenue Deficit (PDRD) grant to states. Who recommended Post Devolution Revenue Deficit (PDRD) grant to states? Fifteenth Finance Commission. Which states were recommended for Post ..
Month: Current Affairs - May, 2022
Category: Economy & Banking Current Affairs
Topics: Finance Commission • Grants • Ministry of Finance • PDRD • revenue deficit
Centre allows 11 states to borrow Rs 15721 crore from market
Central government has allowed 11 states to borrow an additional fund of Rs 15,721 crore from the market, because they achieved the capital expenditure target that finance ministry had set for June quarter the fiscal year 2021-22. Highlights States that have been allowed to borrow include- Andhra Pradesh, Bihar, Chhattisgarh, Haryana, Kerala, Madhya Pradesh, Manipur, ..
Month: Current Affairs - September, 2021
Category: Economy & Banking Current Affairs
Topics: Additional Borrowing by states • department of expenditure • Finance Commission • Gross State Domestic Product (GSDP)
Post Devolution Revenue Deficit Grant
Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution. Near about a third of the total revenue collected by the Centre is directly transferred to states as their share in the divisible pool. However, the Finance Commission also provides a mechanism for compensation of any loss incurred by ..
Topics: 15th Finance Commission • Article 275 • Finance Commission • Post Devolution Revenue Deficit Grant
Jal Jeevan Mission: State-Wise Planning Exercise started for 2021–22
The Ministry of Jal Shakti recently announced that it is to roll out annual planning exercise with the States and Union Territories. What is the plan? The exercise is to be conducted by a committee chaired by the Secretary of Department of Drinking Water and Sanitation. The Committee will take up two states or Union ..
Month: Current Affairs - April, 2021
Category: Government Schemes Current Affairs
Topics: COVID-19 • Fifteenth Finance Commission • Finance Commission • Jal Jeevan mission • MGNREGA • Rural Development
Atal Innovation Mission, CIPS join hands for Innovation in Public System
The Atal Innovation Mission, Centre for Innovations in Public Systems (CIPS) and NITI Aayog recently announced collaboration to reinforce entrepreneurship and innovation ecosystem in India. What is the plan? The CIPS and Atal Innovation Mission signed a Statement of Intent to promote innovation in the area of public system. This is to be achieved with ..
Month: Current Affairs - April, 2021
Category: Economy & Banking Current Affairs
Topics: Atal Innovation Mission (AIM) • Centre for Innovation • Finance Commission • Local government in India • NITI Aayog