Economy Funds

PM CARES Fund – UPSC Prelims

The government has set up the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM-CARES Fund) to deal with any kind of emergency or distress situation like posed by the Covid-19 pandemic. The Fund is a public charitable trust with the Prime Minister as its Chairman. Other Members include Defence Minister, Home Minister and Finance Minister. The Fund enables micro-donations as a result …

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Alternative Investment Fund – UPSC Prelims

What is an Alternative Investment Fund(AIF)? Alternate investment funds(AIFs) are defined under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012. It refers to any privately pooled investment fund(whether from Indian or foreign sources) established or incorporated in India for investing it in accordance with a defined investment policy. An alternative investment is …

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Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN) – UPSC Prelims

The Union Cabinet approves the Pradhan Mantri Swasthya Suraksha Nidhi (PMSSN). This program will ensure access to universal & affordable health care through a fund that does not lapse at the end of the financial year. Features:  It has been set up as a single non-lapsable reserve fund for a share of Health. It will …

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Contingency Fund of India – UPSC Prelims

Contingency Fund of India: Art. 267 of Constitution provides for Contingency Fund of India for Unforeseen events /disaster. Parliament approval is “subsequently” obtained, after expenditure. Money is then refilled from Consolidated fund of India. This fund is deemed to be under the President of India & is operated by Finance Secretary (IAS) under department of …

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Fisheries and Aquaculture Infrastructure Development Fund (FAIDF)

FAIDF: To double farmers’ income by 2022 the Cabinet Committee on Economic Affairs (CCEA) has approved creation of FAIDF recently. The proposal for creation of fund was made in budget 2018-19. Salient features of the fund The main aim is to boost fish production to achieve the target of producing 15 million tonnes of fish …

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