Today in History (Apr 14th, 1891)
Dr. Bhimrao Ramji Ambedkar was born on 14th April 1891 in Mhow, Madhya Pradesh. He served as the Union Minister of Law and Justice in the first cabinet of independent India. He played a significant role in the Indian Independence Movement and was the Chairman of the Drafting Committee of the Constituent Assembly of India.
Summary of Today’s News
Goods export grew 6% in 2022-23.
Total goods exports grew 6.03% to $447.46 billion in 2022-23. The import bill surged 16.5% to $714 billion in 2022-23. The import bill surged 16.5% to $714 billion in 2022-23. The trade deficit in goods increased by 40% to over $266 billion in 2022-23, compared to $190 billion in 2021-22. The Union Ministry of Commerce and Industry pegged the total trade deficit at $122 billion in 2022-23, 46% higher than the $83.5 billion gap in 2021-22.
PM MUDRA Yojana
The Pradhan Mantri MUDRA Yojana (PMMY) was launched on 8th April 2015 to provide loans to small and micro enterprises. Under the scheme, loans are categorized into- Shishu (up to Rs. 50,000), Kishor (Rs. 50,000 to Rs. 5 lakhs), and Tarun (Rs. 5 lakhs to Rs. 10 lakhs). The collateral-free loans are provided by banks, Non-Banking Financial Companies (NBFCs), and Micro Finance Institutions (MFIs).
The Election Symbols (Reservation and Allotment) Order, 1968
Under para 6B of the Election Symbols (Reservation and Allotment) Order, 1968, a political party is recognised as a national political party if it is recognised as a State Party in four or more States or if it wins 2% of the Lok Sabha seats from at least three different States or if it secures 6% of the valid votes polled in last Lok Sabha or Assembly elections and four members from the party are elected to the Lok Sabha.
Dabba Trading
Recently, the National Stock Exchange of India named entities involved in Dabba Trading, an illegal form of trading prevalent in India. It is a type of trading where shares or commodities are traded outside the formal stock exchanges, often through unregistered brokers. In Dabba Trading, the trades are not executed on the stock exchange, but are merely recorded by the broker on a different platform, known as a “dabba.”
