Finance Commission of India

Finance Commission of India;-
~ is constituted by the President under article 280 of the Constitution, mainly to give its recommendations on distribution of tax revenues between the Union and the States and amongst the States themselves.
•Chairman of the Commission is selected from among persons who have had experience in public affairs, with the four other members
•States with lower per capita income may be given a higher share to maintain equity among states
Deendayal Disabled Rehabilitation Scheme
~To create an enabling environment to ensure equal opportunities, equity, social justice and empowerment of persons with disabilities.
•approach of this Scheme is to provide financial assistance to voluntary organizations to make available the whole range of services necessary for rehabilitation of persons with disabilities
Regional Comprehensive Economic Partnership (RCEP);-{b/w ASEAN+6}
~aims to boost goods trade by eliminating most tariff & non-tariff barriers — a move that is expected to provide the region’s consumers greater choice of quality products at affordable rates
•If India is out of the RCEP, it would make its exports price uncompetitive with other RCEP members’ exports
[7th RCEP Inter-Sessional Ministerial Meeting is being held in Cambodia]
payment aggregator system ‘IRCTC iPay’;-{launched by Indian Rail Catering and Tourism Corporation (IRCTC)}
~The exclusive digital payment gateway will provide better digital experience and improved online digital payment convenience to rail passengers availing online travel-related services through the website.
EASE (Enhanced Access and Service Excellence) reform index;-{is prepared by the Indian Banking Association (IBA) and Boston Consulting Group.& commissioned by the Finance Ministry}
~It is a framework that was adopted last year to strengthen public sector banks, and rank them on metrics such as responsible banking, financial inclusion, credit offtake and digitisation.


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