CURRENT AFFAIRS
ECONOMY:
Mutual credit guarantee scheme for MSMEs
Govt approved in budget 24-25.
Key features:
Guarantee coverage of 60% by National Credit Guarantee
Trustee company limited (NCGTC)
Eligible borrowers are MSME with valid udyam registration
NATIONAL CRITICAL MINERAL MISSION (NCMM)
Union cabinet approved the launch of NCMM.
Financial incentive for critical mineral exploration.
It propose the stockpile of critical mineral within the
country.
It includes setup of mineral processing park, Mining in
offshore area.
Components of NCMM:
i) Increasing domestic critical mineral production.
ii) Acquisition of critical mineral assets abroad
iii) Recycling of critical minerals.
iv) Trade and market.
v) Scientific research and technological advancement
vi) Human resource development
vii) Developing effective funding, financing and fiscal
incentive.
CRITICAL MINERALS: Minerals which are essential for the
economic development and the national security of any
country.
Economic Importance + Supply Risk = Criticality of
minerals
30 critical minerals (India released list)
MAJOR AND MINOR MINERALS
Barytes, felspar, mica and Quartz are reclassified from minor
minerals to Major Minerals.
This decision is based on their allocation with critical
minerals and importance in various high-tech industries.
Key features of reclassification are;
i) Enhance exploration and scientific mining
ii) Support for energy transition and technology
iii) Stronger industrial application.
iv) Extended lease and better regulation
PRIME MINISTER DHAN DHYAAN KRISHI YOJNA (PMDKY)
Launched in union budget 25.
Covers 100 district based on three broad parameters low
productivity, moderate- crop intensity and below avg. credit
parameter
Inspired by ADP (aspirational districts programme)
Objective of PMDKY
i) Enhancing agricultural productivity
ii) Adopting crop diversification
iii) Augmenting post harvesting storage at block and
panchayat level.
iv) Improving irrigation facilities
v) Facilitating availability of long term and short-term
credit
MAKHANA
Union budget 25-26 annojunced constitution of makhana
board in Bihar.
Makhana is also knowns as foxnut.
Budget allocation 100 cr.
MISSION FOR COTTON PRODUCTIVITY
Mission for cotton productivity was announced in during
budget 25-26.
Ministry: Ministry of textiles.
IT is a five year mission plan to improve cotton productivity
and sustainiblity and promotes extra long staple (ELS) cotton
vatrieties.
It will aid to reduce the import dependence and enhance the
global competitiveness of Indian textile sector where 80% of
the capacity is driven by MSMEs
Need for this mission
Stagnant Productivity
Rainfed crop
Pests menance
Unstable prices.
URBAN CHALLENGE FUNDS (UCF)
UCF of 1 lakh crore aims to encourage states to think
innovatively towards attaining sustainable urbanization and
redevelopment goals in existing cities.
Need for UCF
i) Caters the rising in urban population
ii) Ensure sustainability
iii) Supports developmental projects
iv) Ensure absorption for the available fund.
v) Addressing issue with Urban planning
URBAN COOPERATIVE BANKS
RBI has imposed six month momatorium on New Delhi India
Co-operative Bank Limited, restricting loans, deposits, and
withdrawals.
UCBs are a subset of cooperative banks in India that operates
primiraly in urban and semi-urban areas.
The cooperative credit societies act of1904 (during Lord
Curzon’s tenure) and its 1912 amendment laid the legal
foundation of these institution
Significance of UCBs:
i) Financial inclusion: UCB primiraliy caters the small
borrowers, micro-business and low income group in
urban semiurban areas
ii) Local focus: It operates within specific communities,
allowing them to understand local needs and providing
the tailored financial services.
iii) Priority sector Lending: It has allocated 65% of PSL in
FY 24-25 But increasing it to 76% in 26 march.
iv) Development support: they cater the need of non-
agricultural sector, particularly small borrowers in
urban and semi-urban areas.
RESTRUCTED SKILL INDIA PROGRAMME
Union cabinet approved of restricting of skill India
programme (SIP)
