Ways and Means Advances Current Affairs, GK & News

Finance Minister announces Festival Advance scheme, LTC Cash Voucher Scheme

On October 12, 2020, the Finance Minister Nirmala Sitaraman Announced the Special Festival Advance Scheme and LTC Cash Voucher Scheme. The schemes were launched to boost the demand in the country. In all, the GoI has allocated Rs 73,000 crores to simulate consumer spending in order to increase demand in the country. Special Festival Advance ..

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RBI sets the limits for Ways and Means Advances (WMA)

The Reserve Bank of India (RBI) in consultation with the government of India has set the limits for Ways and Means Advances (WMA) for the first half of the financial year 2019-20 (April 2019 to September 2019) at Rs 75000 crore. What is Ways and Means Advances (WMA)? Ways and Means Advances is the temporary ..

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RBI to reform Ways and Means Advances for States

Reserve Bank of India has proposed an approach to reform new Ways and Means Advances (WMA) limits for the state governments, which will further replace the previous expenditure-based system. It will establish a panel to recommend parameters of the new system which is aimed to prevent automatic monetisation of deficits.

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