The global demand also increased by 25 percent in comparison to 945.5 tonnes in 2023.
Primary fiscal anchor is Debt-to-GDP Ratio
The Union Budget has presented strategies of reaching a debt-to-GDP ratio of 50 per cent in the central government by the year 2031.
It represented a major change between a qualitative objective to a precisely-obtainable one.
Debt-to-GDP ratio is a commonly realized measure of fiscal health of a country.
The Indian central government has a healthy level of debt-to-GDP ratio.
The debt-to-GDP ratio of India is low, even in comparison of its G7 counterparts except Canada and Germany.
Cut in Repo Rate by 25 bps
The repo rate reduced by 25 basis points (bps) to 6.25 per cent by the Monetary Policy Committee (MPC) of RBI.
It was recording the first-grade cut since almost five years.
The rate of deposit facility (SDF) is at 6 per cent.
The Bank Rate and the Marginal Standing Facility (MSF) rate stands at 6.50 per cent.
The last time the central bank lowered repo rate was in the month of May 2020 when it reduced the rates by 40 basis points to 4 per cent.
Grameen Credit Score
Grameen Credit Score is an infrastructure that would be built on the lines of credit needs of SHG (Self Help Group) members and those living in rural areas.
A framework of Grameen Credit Score will be formed in Public Sector Banks.
When women belonging to self-help groups credit score are publicized, they can easily obtain additional loans in the banks.
The intended purpose of the latter is to enhance the repayment arts and curb fraud by giving better appraisals of borrowers living in rural locations.
It will enhance the microfinance, improve financial inclusion, and favour industries such as agriculture, rural development, and MSMEs.
Duty Free Life-Saving Drugs
In the Budget, 36 medicines and drugs that can save a life are proposed to be included in the list of medicines that will fully be exempted of Basic Customs Duty.