SL No Topics

1 Economics
January
February
March
1. ₹1,03,184 of gross GST revenue collected in December 2019
GST revenues during the December 2019 from domestic transactions has shown an
impressive growth of 16% over revenue during December 2018. Total revenue earned
by after regular settlement in December 2019 is ₹ 41,776 crore for CGST; ₹ 42,158
crore for SGST
Arunachal Pradesh saw a growth of 124% in collection of GST.

2. SEBI modifies rating withdrawal norms for CRAs

SEBI has tightened the noose around the corporates, saying if companies are not
cooperating with credit rating agencies (CRAs) on disclosure of loan defaults, then the
latter should issue INC (Issuer not cooperating) ratings.
Securities and Exchange Board of India (SEBI).
3. NLC India to raise up to Rs 2,000 crore through commercial paper
NLC India Ltd on Saturday announced its plans to raise up to Rs 2,000 crore through commercial paper. NLC India Ltd is a Nav
thermal power stations with an aggregate capacity of 3240 MW. Commercial paper is an unsecured, short-term debt instrum
4. RBI allows 24x7 forex market operations via select banks

The Reserve Bank of India has enabled local banks to offer round-the-clock trading in
the Indian rupee, as a step towards reducing the rising influence of offshore trading in
the currency markets.
Avg. daily volume of rupee trading in India- $34.49 bn. (sep,19).
5. Operation Twist-III: RBI buys and sells bonds worth ₹10k crore each

In the 3rd special open market operation in as many weeks, Reserve Bank of India
(RBI) bought ₹10,000 crore of three long-term securities while selling a same amount
of three short-term bonds. It received ₹47,540 cr. of bids but accepted to sell ₹10,000
cr.
RBI has reduced the repo rate by 135 basis points.
6. India's GDP growth rate for 2019-20 estimated at 5%, says NSO

Indian economy is estimated to grow at 5% in 2019-20 as against 6.8% in the

previous fiscal, according to the 1st advanced estimates of the national income
released by NSO. The decline has been on account of deceleration in manufacturing
sector growth.
NSO-National Statistical Office.
7. India’s per-capita income rises 6.8 per cent to 11,254 a month in FY20

According to Government data on national income, the country’s per-capita monthly

income is estimated to have risen by 6.8 per cent to Rs 11,254 during 2019-20. In
2018-19, the monthly per-capita income had stood at Rs 10,534.
Per capita means per person or "by the head" in Latin.
8. CCI Releases Market Study on E-commerce in India
Report released presents key trends identified such as issues of lack of platform
neutrality, unfair P2B contract terms, exclusive contracts b/w online marketplace
platforms & sellers/service providers, platform price parity restriction & deep discounts
CCI is responsible for enforcing The Competition Act, 2002.

9. RBI releases national strategy for financial inclusion

RBI) has chalked out an ambitious strategy for financial inclusion till 2024, in which it
aims to strengthen the ecosystem for various modes of digital financial services in all
Tier-II to Tier VI centres to create the necessary infrastructure.
National Strategy for Financial Inclusion period-2019-24.
10. RBI buys 15 tonnes of gold in Oct-Nov

The Reserve Bank of India stepped up hedging against currency volatility by

purchasing 0.48 million troy ounces, close to 15 tonnes, of gold in October-November.
This is the highest bi-monthly gold purchase by the central bank.
Value of gold in reserves rose by $6.2 billion in 2019.
11. Retail inflation jumps to about 5-yr high of 7.35% in Dec 2019

Retail inflation rose to about 5-and-half year high of 7.35% in December 2019 mainly
due to rise in prices of vegetables as onions. As per NSO reports, the spike in inflation
in the vegetable segment was 60.5% during the month compared to December 2018.
Overall retail inflation based on CPI-5.54% in November 2019.
12. SEBI suspends registration of stockbroker Jagruti Securities for 1 year

Markets regulator SEBI suspended the registration of stockbroker Jagruti Securities

Ltd for one year for violating Stockbrokers Regulations. The probe found that the
stockbroker failed to pay nearly Rs 17.9 lakh to one of its clients.
SEBI also levied a fine of Rs 5 lakh on Venky Hi-tech Ispat Ltd.
13. Govt to de-criminalise Income Tax Act, anti-money laundering law: FM

Govt to decriminalise Income Tax Act & the Prevention of Money Laundering Act as
part of steps towards taking the country to a $5 trillion economy, FM N Sitharaman
announced at the Nani Palkhivala centenary celebrations in Chennai.
Prevention of Money Laundering Act, 2002 came into force in 2005.
14. Rs 70,000 Cr loan amount disbursed till Jan 13 under MSMEs scheme:
Govt

Finance Ministry has said that a loan amount of nearly Rs 70,000 has been disbursed
till 13th of this month under the scheme of providing loan to Micro Small & Medium
Enterprises through a dedicated online portal- www.psbloansin59 minutes.com
Union Finance Minister of State: Anurag Singh Thakur.
15. RBI raises investment limit for FPIs in debt

According to the current norms, short-term investments by a foreign portfolio investor

(FPI) should not exceed 20 per cent of the total investment of that FPI in either
central government securities (including treasury bills) or state development loans.
Short-term investment limit has now increased from 20% to 30%.
16. GDP to grow by 5.5% in FY21 but downside risks persist: India Ratings

According to the India Ratings and Research report, India's growth rate is expected to
be marginally higher at 5.5 per cent in 2020-21 against the estimated 5 per cent for
the current fiscal on the back of strong policy push coupled with revival in demand.
Retail and wholesale inflation expected to be 4.9% and 1.3%.
17. Fiscal deficit may widen to 3.8% for current financial year: Bank of
America Securities

The country's fiscal deficit for 2019-20 is expected to widen to 3.8% and the
upcoming Budget may set a target of 3.5 per cent for 2020-21, as per the Bank of
America Securities report. It also predicted the long-term fiscal deficit being at 4.5 per
cent.
Cost of the 2% subvention will come at Rs 21,100 Cr.
18. SEBI plans to rationalise margin system in derivatives segment to bring
down trading cost
SEBI is planning to rationalise margin system in derivatives segments to boost
liquidity and bring down trading cost. SEBI had asked trading and clearing members to
compulsorily collect upfront certain margins from their clients in the cash segment.
The move became effective from January 1, 2020.
19.India exports 3.2 million bales of cotton in first quarter of cotton year
2019-20

India exported 3.2 million bales of cotton during the first quarter of the cotton year
that began on October 1, said trade body Cotton Association of India (CAI), which
expects the total exports till September 2020 to hit 42 lakh bales.
Government of India has fixed a weight of 170 kg for a bale.
20. India’s Growth to Decelerate to 5% in 2019-2020: World Bank

World Bank has projected a 5% growth rate for India in the 2019-2020 fiscal, but said
it was likely to recover to 5.8% in the 2020-2021 financial year. The growth rate for
Bangladesh has been projected to remain above 7%
Global economic growth is forecast to edge up to 2.5%
21. IMF lowers India's 2019 growth forecast to 4.8% from 6.1%

International Monetary Fund (IMF) has lowered India's growth forecast for 2019 to 4.8
per cent from 6.1 per cent it projected in October on the back of sharp decline in
consumer demand, stress in the NBFC sector and sluggish credit growth.
Kristalina Georgieva, MD and Chairman of IMF.
22. FPIs infuse Rs 1,624 crore in Indian markets in January

As per latest depositories data, Foreign portfolio investors put-in a net of 13,304 crore
rupees, in equities and withdrew a net 11,680 crore rupees from the debt segment
between January 1 and 24. This translates into a total net inflow of ₹1,624 crore.
FPIs can now invest in exchange traded funds or ETFs.
23. FICCI survey projects FY20 GDP growth at 5%, to improve to 5.5% in
FY21

Industry body FICCI said its Economic Outlook Survey has projected the country's
annual median GDP growth for 2019-20 at 5%, in line with the forecasts made by
NSO. Survey has put the growth forecast for agriculture & allied activities at 2.6% for
2019-20.

Organization -------------------------------------------Parameters Rate/Figures

National Statistical Office (GDP)--------------------- 5% (FY 2019-20)
Government data (Per capita income)---------------Rises by 6.8% (FY2019-20)
National Statistical Office (Retail inflation)---------7.35% (December2019)
India ratings (GDP) --------------------------------------5.5% (FY21)
Bank of America Securities (FiscalDeficit)-----------3.8% (FY 2019-20), 3.5% (FY 2020-21)
World Bank (Growth Rate Forecast) -----------------5% (FY 2019-20)
IMF (Growth Forecast)--------------------------------- 4.8% (FY 2019)
FICCI ------------------------------------------------------5% (FY 2019-20)

1. Economic Survey 2020 tabled in Parliament; projects growth at 6 to 6.5% for the next fiscal
Economic Survey 2019-20 has projected economic growth at 6 to 6.5% in fiscal year starting 1st of April this
year. It has put current fiscal growth at 5 per cent & said the fiscal deficit target for current fiscal may need to
be relaxed to revive growth. Industrial sector registered a growth of 0.6% in 2019-20.
2. FM emphasises on building ''caring society'' in budget
On the 2020-21 budget, FM emphasised on building a caring society by including a slew of measures for
social welfare, climate change & improvement of culture & tourism. She allocated Rs 4,400 Cr to encourage
states to implement plans for cleaner air. Govt allocated Rs 3,5600 crore for nutrition-related schemes.
3. Budget 2020: Rs 99,300-crore blueprint to take education to next level
Presenting the Budget for 2020-21, FM said Rs 99,300 Cr has been allocated for the education sector and Rs
3,000 Cr for skill development for the next fiscal. Steps will be taken to attract external commercial
borrowing and FDI in the education sector. National Universities for Forensic & Police were proposed.
4. Budget 2020: Sixteen Action Points for Agriculture, Irrigation & Rural Development
A total of Rs. 2.83 lakh crore has been allocated in the union Budget 2020 for the Sixteen Action Points for
Agriculture, Irrigation and Rural Development. Rs. 1.23 lakh crore has been allocated for the Rural
development and Panchayati Raj projects. Broad measures for 100 water-stressed districts proposed.
5. Budget 2020 proposed Rs.6000 Cr for Bharatnet programme in 2020-21
Policy to enable private sector to build Data Centre parks in the country to be brought out soon. Fibre to the
Home connections through Bharatnet to link 100,000-gram panchayats this year is in plan. 6000 Cr has been
proposed for the programme in 2020-21. Allocation of Rs. 2500 crore for 2020-21 for tourism promotion.
6. Fiscal deficit hits 132 per cent of Budget Estimate till December
The government's fiscal deficit touched 132.4% of the full-year target at December-end mainly due to slower
pace of revenue collections. In actual terms, the fiscal deficit was Rs 9,31,725 crore as per the Controller
General of Accounts (CGA) reports. Government's revenue receipts were 58.4% of the 2019-20 BE.
7. Budget 2020: Indian Railways' operating ratio for FY20 at 98.41%
Operating ratio is a measure of the portion of revenue that goes into meeting the expenses. Hence, the lower
the number, the better the performance. In FY 2019-20, Railways spent about Rs 98.41 to earn every Rs 100,
according to the Union Budget 2020. Projected operating ratio in FY20-21 is around 97.30%.
8. Budget 2020: Plan to hike FPI limit in corporate bonds to 15% from 9%
The government plans to increase investment limit of foreign portfolio investors in corporate bonds from 9%
to 15%. In her second Budget presentation, the finance minister Sitharaman said certain government
securities will be open for foreign investors. 22,000 Cr had given to infrastructure project pipeline.
9. India raises import tax on crude palm oil to 44%
India has raised import tax on crude palm oil to 44% from existing 37.5%. The hike in import duty on palm
oil could prompt buyers to increase purchases of rival edible oils such as soyoil and sunflower oil. India is the
world’s biggest palm oil importer. Under ASEAN agreement, the concessional rate is 37.5%.
10. Budget 2020: Centre to allow NBFCs to extend invoice financing To MSMEs

The govt will allow NBFCs to extend invoice financing To MSMEs, FM announced. Centre has asked the
RBI to mull extending MSME recast window by one more year. MSMEs account for about 45% of
manufacturing output, more than 40% of exports & over 28% of GDP. Indian MSMEs have physical capital
valued at less than 10 Cr.
11. Budget 2020: Task force to be set up for recommending marriageable age for women
FM announced that a task force will be set up to recommend marriageable age for women. Rs 9,500 crore has
been provided for senior citizens and Divyangs, while Rs 35,600 crore has been allocated for nutrition related
programme in FY21 in the budget 2020. Rs 85,000 Cr has been allocated for SCs & OBCs in the Budget.
12. Budget 2020 increases the National Calamity Contingent Duty on cigarettes

The Union Budget 2020-21 increased the National Calamity Contingent Duty (NCCD) on cigarettes
anywhere between 212% to 388% depending on the cigarette stick sizes. The imposed NCCD duty is
expected to witness price rise of 7% in the sales of cigarettes. The NCCD duty was introduced under Finance
Act, 2001.
1. Govt's total receipts at Rs 12.82 lakh Cr in April-January
Government's total receipts during April-January period of current fiscal stood at Rs 12.82 lakh crore,
while total expenditure for the said period was Rs 22.68 lakh crore. Government has received Rs
12,82,857 crore up to January 2020. Tax revenue: Rs 9,98,037 Cr; Non-tax revenue: Rs 2,52,083 Cr.
2. GST collection crosses Rs one lakh crore mark in February

Government has collected over one lakh five thousand crore rupees as Goods and Services Tax in
February this year which is eight percent more than the GST collected in the same month of last year.
Out of the total revenue, CGST is over Rs 20,000 Crores. GST was launched all over India with effect
from 1 July 2017.
3. CSR: SPMCIL contributes Rs 1 Cr to National Sports Development Fund

Under the CSR initiatives, Security Printing & Minting Corporation of India contributed Rs 1 Crore
towards National Sports Development Fund under the Target Olympic Podium Scheme for the top
athletes of the Country selected for Tokyo Olympics & beyond. Chairman & Managing Director of
SPMCIL- Tripti Patra Ghosh.
4. OECD lowers India's FY21 GDP growth to 5.1% on coronavirus concerns
Global agency OECD lowered its India's GDP growth forecast to 5.1 percent from the earlier projection
of 6.2 percent for 2020 on concerns of impact of deadly coronavirus on the domestic as well as the
global economy. Organisation for Economic Cooperation and Development (OECD).
5. Govt introduces bill to amend banking laws to protect the interest of small depositors

The Govt introduced a bill which seeks to protect the interest of small depositors by bringing
cooperative banks under the RBI regulations. Introducing the Banking Regulation Amendment Bill, FM
Nirmala Sitharaman said the bill is the ‘need of the hour’. Govt need to avoid a PMC Bank-like crisis in
the future.
6. By FY22, corporate loan defaults may rise by another Rs 2.54 lakh crore: India Ratings
An analysis of the top 500 debt heavy private companies by India Ratings showed that around 16% of the existing corporate
around Rs 10.52 lakh Cr, could turn bad over the next 3 years. An additional Rs 2.54 lakh crore of delinquent debt can occur.
7. Trade impact of coronavirus epidemic for India estimated at $348 million: UN report

The trade impact of the coronavirus epidemic for India is estimated to be about $348 million and the
country figures among the top 15 economies most affected as slowdown of manufacturing in China
disrupts world trade, according to a United Nations report. UN Conference on Trade & Development
8.published the estimates.
Cabinet gives nod for FDI policy on civil aviation; NRIs can acquire up to 100% equity in
Air India
The Cabinet approved FDI policy on civil aviation. FDI policy was amended to permit foreign investment
in Air India. Non-Resident Indians can acquire up to 100% equity in Air India under automatic route.
Earlier only 49% were available for sale to NRIs. Civil Aviation Minister- Hardeep Singh Puri.
9. Cabinet gives nod to Companies Second Amendment Bill to enable Indian firms to list on foreign exchanges

Cabinet approved the Companies Second Amendment Bill, 2019 to amend the Companies Act, 2013.
This will enable the listing of Indian companies on stock exchanges in foreign jurisdictions. It is
expected to increase the competitiveness of Indian companies. Re-categorisation of 23 offences have
been done in the new Bill.
10. Govt pegs 18% lower sugar output to 26.3 MT for 2019-20

The country's total sugar production is estimated to decline by 18% to 27.3 million tonnes in the
ongoing 2019-20 season on fall in sugarcane output in key growing states. Mills have produced 19.48
mt of sugar till February of the marketing year 2019-20. 33.13 mt was achieved in last sugar season
2018-19.
11. IRDAI asks insurance companies to design policies to cover coronavirus
IRDAI has asked insurers to expeditiously settle hospitalisation claims related to novel coronavirus
disease under health policies. All the claims reported under COVID-19 will be thoroughly reviewed by
review committee before repudiating the claims. IRDAI Chairman- Subhash Chandra Khuntia.