India’s Merchandise Trade Deficit

Preliminary data released by the government showed that India’s trade deficit in goods widened to USD 14.11 billion in March 2021 from USD 9.98 billion during March 2020. India’s Merchandise Trade Deficit: Other Observations: Merchandise Exports: India’s merchandise exports in March 2021 were USD 34.0 billion as compared to USD 21.49 billion in March 2020, an increase of 58.23%. For

Oil Import Contracts

Amid tensions with Saudi Arabia over oil production cuts, the Indian government has asked its state refiners (IOC, BPCL and HPCL) to look for oil supplies from outside the Middle East region and use collective bargaining power to get favourable terms. Oil Import Contracts: Tension with Saudi Arabia: When oil prices started to rise in early 2021, India wanted Saudi Arabia to relax output controls but

World Cities Culture Forum

The Chief Minister of Delhi will represent Delhi and India at the World Cities Culture Forum (WCCF). The date for this year’s annual summit is yet to be announced on the forum’s website. World Cities Culture Forum: Establishment: WCCF was established in London in 2012 with eight cities. Member Cities: It has 43 participating member cities. Participating member cities include London, Hong Kong,

Expansion of Emergency Credit Line Guarantee Scheme

Recently, the government has extended the Rs. 3-lakh-crore Emergency Credit Line Guarantee Scheme (ECLGS) until 30th June 2021, and also widened its scope to new sectors, including hospitality, travel and tourism. ECLGS was rolled out in May 2020 as part of the Centre’s Atmanirbhar package in response to the Covid-19 crisis. The objective was to support small businesses struggling to meet their operational liabilities due

PM-KUSUM

Recently, the first farm-based solar power plant under the Prime Minister’s Kisan Urja Suraksha Evam Utthan Mahabhiyan (PM-KUSUM) scheme has come up in Jaipur (Rajasthan) district’s Kotputli tehsil with a provision for production of 17 lakh units of electricity every year. PM-KUSUM: Key Points About: The PM-KUSUM scheme was launched by the Ministry of New and Renewable Energy

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