Social issues

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Standing Deposit Facility (SDF) The Standing Deposit Facility (SDF) is a monetary policy instrument through which the Reserve Bank of India (RBI) accepts deposits from commercial banks without requiring any collateral. Key Points: • SDF has replaced the Fixed Rate Reverse Repo (FRRR). • Earlier, FRRR functioned as the floor rate of the Liquidity Adjustment Facility (LAF) corridor; this role is now performed by the SDF. • Its primary objective is to absorb surplus liquidity from the banking system. • Since the RBI is not required to provide government securities as collateral under SDF, it is considered a more flexible liquidity management tool. • It is available to all eligible banks under the LAF framework.

The glory is not in never falling, but in rising every time you fall.

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With reference to the Mahatma Gandhi Gram Swaraj Initiative (MGGSI) introduced in the 2026-27 Union Budget, consider the following statements: 1. It is primarily aimed at revitalizing the dairy and livestock sectors to ensure food security. 2. The initiative focuses on providing global market linkages and branding support to traditional artisans. 3. It seeks to address the issue of rural-to-urban migration by creating non-farm employment in village industries. Which of the statements given above is/are correct? a. 1 and 2 only b. 2 and 3 only c. 3 only d. 1, 2, and 3

Union Budget 2026–27: Concise Summary The Union Budget 2026–27, presented by the Finance Minister, is a Yuva Shakti-driven budget inspired by three “Kartavya” and aligned with the vision of Viksit Bharat. It focuses on growth, capacity building, and inclusive development, while maintaining fiscal discipline. Core Philosophy: Three Kartavya 1. Accelerate and sustain economic growth through productivity, competitiveness, and resilience. 2. Fulfil aspirations and build capacity of citizens as partners in growth. 3. Ensure Sabka Sath, Sabka Vikas by inclusive access to resources and opportunities. Growth & Infrastructure • Public Capital Expenditure increased to ₹12.2 lakh crore (from ₹11.2 lakh crore). • 7 High-Speed Rail Corridors to act as growth connectors. • New Dedicated Freight Corridors and 20 National Waterways to promote green logistics. • City Economic Regions (CERs) with ₹5,000 crore per region over 5 years. Industry, MSMEs & Manufacturing • ₹10,000 crore SME Growth Fund to create “Champion MSMEs”. • Biopharma SHAKTI (₹10,000 crore) to make India a global hub for biologics and biosimilars. • Integrated programme for Textiles covering fibres, handloom, skilling, sustainability, and employment. • Customs duty exemptions for critical minerals, lithium-ion battery manufacturing, defence aviation, and clean energy. Tax Reforms (Major Highlight) • New Income Tax Act, 2025 effective from April 2026 with simplified rules and forms. • Rationalisation of penalty and prosecution: reduced litigation, decriminalisation of minor offences. • TCS rates reduced (education, medical, overseas tours brought down to 2%). • Single category of IT services with common safe harbour margin of 15.5%. • Tax holiday till 2047 for foreign cloud service providers using Indian data centres. Ease of Doing Business & Trade • Customs transformed into a digital, risk-based, warehouse-operator-centric system. • Single digital window for cargo clearances. • Import duty on personal goods reduced from 20% to 10%. • Duty-free courier export cap of ₹10 lakh removed. Human Capital & Social Sector • Girls’ hostels in every district for STEM institutions. • AVGC Labs in 15,000 schools and 500 colleges. • Khelo India Mission for long-term sports ecosystem development. • Medical Tourism Hubs and new National Institute of Hospitality. • NIMHANS-2 and strengthening of mental health institutions. Agriculture & Rural Empowerment • Bharat-VISTAAR: Multilingual AI platform integrating AgriStack and ICAR. • SHE-Marts to promote women-led SHG enterprises. • Expanded tax benefits for cooperative societies. Regional Development • Focus on Purvodaya States and North-East: • East Coast Industrial Corridor • Buddhist Circuit development • Tourism hubs and e-bus deployment Fiscal Position • Fiscal Deficit: 4.3% of GDP (BE 2026–27). • Debt-to-GDP ratio declines to 55.6%. • Emphasis on fiscal consolidation with growth. Overall Assessment The Union Budget 2026–27 balances growth-oriented public investment, deep tax reforms, technology-led governance, and inclusive development, while maintaining macro-economic stability. It reflects a strategic shift towards future-ready infrastructure, human capital, and global competitiveness.

Economic Survey 2025-26

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About Foreign Exchange Reserve Foreign Exchange Reserves (also called Forex Reserves) are foreign currency assets held by the central banks of countries. These assets include foreign marketable securities, monetary gold, special drawing rights (SDRs), and reserve position in the IMF. These are denominated and expressed in the US dollar, which is the international numeraire for the purpose. China is the largest foreign exchange reserve holder in the world. RBI is the custodian of the foreign exchange reserves in India. India’s foreign exchange reserves comprise of; 1. Foreign currency assets (FCAs): These are maintained in currencies like the US dollar, euro, pound sterling, Australian dollar, and Japanese yen. 2. Gold 3 SDR (Special Drawing Rights): This is the reserve currency with the IMF. 4 RTP (Reserve Tranche Position): This is the reserve capital with the IMF. The biggest contributor to India’s Forex reserves is foreign currency assets, followed by gold. Join @socialissues_tnpsc

India’s Forex Reserves (as of Oct 24): $695.36 billion ↓ Decrease of $6.92 billion in the week. • Previous week (Oct 17): Reserves had increased by $4.496 billion to $702.28 billion, mainly due to higher gold reserves. 1. Foreign Currency Assets (FCA): • Fell by $3.862 billion → now $566.548 billion. • Includes impact of appreciation/depreciation of non-US currencies (Euro, Pound, Yen). 2. Gold Reserves: • Declined by $3.01 billion → now $105.536 billion. 3. Special Drawing Rights (SDRs): • Down by $58 million → $18.664 billion. 4. Reserve Position in IMF: • Up by $6 million → $4.608 billion. Join @socialissues_tnpsc ...

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