Repo Rate is key RBI monetary policy tool.
The Repo Rate is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks. It is a primary instrument used by the RBI to control inflation, manage liquidity, and influence credit flow in the economy.
Goods and Services Tax (GST) unified India's indirect taxes.
Introduced in 2017, GST is a consumption-based tax levied on the supply of goods and services. It replaced multiple indirect taxes previously imposed by central and state governments, aiming for a 'one nation, one tax' system.
Fundamental Duties are enshrined in the Indian Constitution.
Enlisted in Part IV-A (Article 51A) of the Constitution, Fundamental Duties were added by the 42nd Amendment Act, 1976, based on the Swaran Singh Committee recommendations. They are non-justiciable and serve as moral obligations for citizens.
Ayushman Bharat PM-JAY is world's largest health scheme.
Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) was launched in 2018 to provide health cover for secondary and tertiary care hospitalization to vulnerable families. It offers a cover of ₹5 lakh per family per year for medical treatment.
ISRO is India's premier space research organization.
The Indian Space Research Organisation (ISRO) is the national space agency of India, responsible for space-based applications, space exploration, and the development of related technologies. Notable missions include Chandrayaan (Lunar) series and the Mars Orbiter Mission (Mangalyaan).
G20 is a forum for international economic cooperation.
The G20 comprises 19 countries and the European Union, representing major developed and developing economies. It addresses global economic challenges, promotes international financial stability, and discusses socio-economic issues.