Telangana govt seeks RBI nod to raise Rs 13,000 crore loan in final quarter
Telangana government has requested permission from the Reserve Bank of India (RBI) to raise another Rs 13,562 crore loan in the final quarter of the current financial year.
With this, the total loan raised this year will be Rs 48,562 crore and the cumulative loan burden will reach 2.86 lakh crore. But Telangana’s fiscal health seem reasonable when compared nationally as it will still be second last in terms of the ratio of gross domestic product as a percentage of loans.
The loan requirement is mostly to feed the state’s ambitious welfare programmes. Despite the economic slowdown due to Covid-19, the state had managed to achieve a good growth rate, but the income is not enough to finance its schemes as payments for it have also increased proportionately.
This fiscal year the state government intends to implement the Dalit Bandhu scheme and has also begun releasing funds for RythuBandhu.
The state government was scheduled to raise Rs 8,000 crore, Rs 6,000 crore and Rs 6,295 crore in the first, second and third quarter of the year respectively, according to the original indicative loan calendar. The rest of the requirements were to be raised in the fourth quarter.
According to the Fiscal Responsibility and Budget Management (FRBM) Act, 25% of the state’s total GDP can be considered the upper limit of the total loans raised by the state.
UN WFP Signs MoU To Improve PM POSHAN Scheme
To strengthen the effectiveness of PM – POSHAN, the United Nations World Food Program, UN – WFP, has struck a deal with a Bengaluru-based NGO (Non-Governmental Organization).
Pradhan Mantri POshanSHaktiNirman is the acronym for Pradhan Mantri POshanSHaktiNirman. Previously, the program was known as the Mid-Day Meal Program.
The Akshara Patra Foundation and the Akshara Patra Foundation inked the agreement.
PM POSHAN Shakti Nirman has received financial help from the World Food Programme. It will help schools improve their mid-day feeding programs.
The NGO will form a steering group. The committee will include officials from the World Food Programme, government agencies, and non-governmental organizations.
Sri Lanka India Oil Deal
The Sri Lankan Government signed an agreement with the Lanka Indian Oil Corporation (LIOC). According to the agreement, Sri Lanka will lease oil tanks to IOC.
Sri Lanka has leased 14 tanks to LIOC for fifty years. Another 24 tanks have been leased to CPC. CPC is joint venture of LIOC and Trinco Petroleum Private Limited. CPC is Ceylon Petroleum Corporation. The CPC is to develop 61 oil farms in the country.
Under the agreement signed in 2003, Sri Lanka agreed to lease all of its 99 tank oil farms to India. This has now been nullified by the new agreement. The new agreement brings in new governance structure.
Sri Lanka is under huge financial pressure. The country has to repay 4.5 billion USD in 2022 alone. Its foreign exchange reserves are decreasing largely.
Green Energy Corridor Phase II
The Government of India approved Green Energy Corridor Phase – II. The estimated outlay of the phase is Rs 12,031 crores. Under this phase, 10,750 kilometres of transmission lines are to be constructed and 27,500 MVA sub stations are to be added. MVA is Mega Volt Ampere. These additions are of the renewable energy generated in different parts of the country. The project is to be implemented in seven states. They are Uttar Pradesh, Tamil Nadu, Rajasthan, Kerala, Karnataka, Himachal Pradesh and Gujarat.
The Green Energy Corridor Phase II will be implemented between 2021-22 and 2025-26.
33% of the project cost is to be provided by the central government. That is, Rs 3,970 crores. The Central Government’s assistance will reduce the intra – state transmission costs. And will ultimately reduce the cost of the power supplied.
It will help India achieve its target of 450 GW of renewable energy by 2030.
It will generate direct and indirect employment opportunities.
The project will boost energy security of the country.
It is being implemented in Tamil Nadu, Andhra Pradesh, Himachal Pradesh, Gujarat, Maharashtra and Rajasthan. It aims to generate 24 GW of renewable power. It is to be completed by 2022. It will add 22,600 MVA of substations and 9,700 km of transmission lines. This is being implemented at a cost of Rs 10,141 crores. Here the central government has contributed Rs 4.056 crores, that is, 33% of the cost.
Pradhan Mantri Formalisation of Micro Food Processing Enterprises Scheme
Under the PMFME Scheme, the Ministry of Food Processing Industries has introduced six one-district product (ODOP) brands.
Highlights:PMFME is the acronym for Pradhan Mantri Formalisation of Micro Food Processing Enterprises.
Amrit Phal: It’s amla juice for Haryana’s Gurugram. It’s natural with lemon juice added. Amrit Phal is priced at Rs 120 for 500 ml.
Cori Gold: Coriander powder was created for the Rajasthani city of Kota. Because of its flavor, the product is one-of-a-kind. Cori gold prices 34 rupees per gram.
Kashmiri Mantra: Kashmiri red chiles are used to make this product. It was created for the Jammu and Kashmir district of Kulgam. Seventy-five rupees buy 100 grams of the Kashmiri mantra.
Madhu Mantra: It’s a honey-like substance created for the Uttar Pradesh district of Saharanpur. It’s a honey with a variety of flora. Madhu mantra honey is gathered from bees that are allowed to fly freely. Five hundred grams of Madhu mantra will set you back 185 rupees.
TSPSC Notes brings Prelims and Mains programs for TSPSC Prelims and TSPSC Mains Exam preparation. Various Programs initiated by TSPSC Notes are as follows:-
- TSPSC Mains Tests and Notes Program 2022
- TSPSC Group I Prelims Exam 2020- Test Series and Notes Program 2022
- TSPSC Prelims and Mains Tests Series and Notes Program 2022
- TSPSC Detailed Complete Prelims Notes 2022