Source: PMI Subject: Government Scheme Context: The Union Cabinet has approved the launch of the Urban Challenge Fund (UCF) with ₹1 lakh crore Central assistance to drive market-led urban transformation. About Urban Challenge Fund (UCF): What it is? The Urban Challenge Fund (UCF) is a Centrally Sponsored Scheme designed to support transformative and bankable urban …
Syllabus: Local bodies Source: TH Context: India’s municipalities, which contribute nearly two-thirds of the national GDP, control less than 1% of total tax revenue. A recent analysis highlights how over-centralisation of taxes post-GST has crippled city finances. About Urban Fiscal Architecture in India: Structural Flaw in Urban Fiscal Architecture: Revenue–Responsibility Mismatch: Cities generate 66% of …
UPSC CURRENT AFFAIRS – 25 November 2024 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. …
Syllabus: Economics Source: IE Context: A recent RBI report highlights challenges in municipal corporations’ revenue generation, heavy dependence on government transfers, and insufficient capacity to meet urban development demands. Data Facts on Urban Civics (Source: RBI Report on Municipal Finances) Property Tax Revenue: Contributes 0.12% of GDP (2023-24). Accounts for 16% of municipal revenue receipts …
GS Paper 2 Syllabus: Devolution of Powers and Finances up to Local Levels and Challenges Therein Source: IE Context: To make Indian cities smarter, the health of municipal finances must be improved. Background: The WB suggests that India will need to invest approximately $840 billion in urban infrastructure over the next 15 years. …
Continue reading “India’s urban centres are ailing due to lack of funds”
InstaLinks : help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …
Continue reading “[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 24 January 2023”
