Interim Budget 2024-25
- An interim budget is not like regular yearly budget presented by government, instead it presented in an election year.
- Like Union budget, interim budget too is debated in Lok Sabha before passage and is valid for entire year though it is merely a transition arrangement (usually 2-4 months).
- An interim Budget conventionally is also called a ‘vote-on-account’ because it serves as an authorisation to incur specific expenditures which is necessary till a new government comes to power.
- Under Article 116, a vote-on-account is an upfront allocation of grant from ‘Consolidated Fund of India’ to government to address immediate expenditure needs.
- Tags :
- budget
- Interim Budget
- Article 116
Computerization Scheme for RCSs and ARDBs.
- Minister of Cooperation launched computerization scheme for offices of Registrar of Cooperative Societies (RCSs) and Agriculture and Rural Development Banks (ARDBs) of the states.
- Computerization Project of ARDBs
- Aims at computerizing 1851 units of ARDBs located in 13 States/UTs and link them with NABARD through a Common National Software.
- Will benefit small and marginal farmers, connected with ARDBs for credit and related services through Primary Agriculture Credit Societies (PACSs).
- Computerization of offices of RCSs
- For better efficiency, accountability and transparency in RCS offices, and ensuring linkage with national database.
- Tags :
- Banks
One District One Product (ODOP)
- The Department for Promotion of Industry and Internal Trade (DPIIT) is conducting events under its ODOP Sampark initiative to create awareness about ODOP.
- DPI IT is a department under the Ministry of Commerce and Industry.
- ODOP is aimed at fostering balanced regional development across all districts of the country.
- It aims to select, brand, and promote at least One Product from each District (One District - One Product) of the country across all regions.
- The States/UT would identify the food product for a district.
- Tags :
- ODOP
Open Market Sale Scheme (OMSS)-Domestic
- It refers to offering of food grains (wheat & rice) in open market at prices, fixed by Ministry of Consumer Affairs, Food & Public Distribution through e-auction.
- It is a tool to control the price in market by providing food grains at reduced prices with the aim to curb inflation.
- Under the Scheme, Govt. of India through Food Corporation of India (FCI), offers wheat to Processors / Atta Chalki / Flour Millers of Wheat Products (Traders / Bulk Buyers are not allowed) only through e-auction.
- Tags :
- OMSS
- Open Market Sale Scheme
Asteroid Bennu
- Recently, NASA unlocked a canister of dust from asteroid Bennu.
- Earlier NASA’s OSIRIS-REx mission brought the sample from asteroid Bennu back to Earth.
- About Asteroid Bennu
- Type: A small, near earth carbon-rich asteroid.
- Age: Around 4.5 billion years old.
- Composition: Established within 10 million years of the formation of our solar system.
- Close encounters: Comes very close to Earth, every 6 years.
- Asteroids are small, rocky objects that orbit the Sun, they are much smaller than planets.
- Main Asteroid Belt is found between Mars and Jupiter.
- Tags :
- asteroid
- Bennu
- Asteroid
Crude Oil Benchmarks
- Brent crude and West Texas Intermediate (WTI) are two global crude oil benchmarks for crude oil pricing.
- Brent Crude is the benchmark used for the oil market in Europe, Africa, and Middle East, originating from oil fields in the North Sea.
- It is the international benchmark used by the OPEC and also India.
- WTI is the benchmark for the US oil market and is sourced from US oil fields.
- Brent Crude is the benchmark used for the oil market in Europe, Africa, and Middle East, originating from oil fields in the North Sea.
- Tags :
- Oil price
- West Texas Intermediate (WTI)
NewSpace India Limited (NSIL)
- NSIL signs Memorandum of Understanding(MOU) with French company for long-term partnership to support satellite launch missions.
- The MoU aims to meet the global commercial satellite launch service market needs.
- About NSIL
- It is a Government of India company under the Department of Space.
- It was set up by the Department of Space in March 2019 to handle ISRO's commercial activities.
- Its primary responsibility is to enable Indian industries to take up high-technology space-related activities.
- Tags :
- Space
- NewSpace India Limited (NSIL)
Health Technology Access Pool (HTAP)
- The World Health Organization announces the HTAP as the successor to the COVID-19 Technology Access Pool (C-TAP).
- C-TAP was launched in May 2020 to facilitate equitable and affordable access to COVID-19 health products for people in all countries.
- HTAP aims to increase equitable access to a broad range of health products through the sharing of intellectual property, knowledge and scientific innovation.
- WHO will publish further details on how HTAP will operate and the technologies it will target later.
- Tags :
- Health
- C-TAP
