world focus magazine Published this article page no 95 Use of technology to lower cost and widen the reach of financial sector. PMJDY Performance in last Seven years 43.04 Crore accounts opened by 2021 with more than half women. o Out of them 86.5% accounts are operative. Twothird of the accounts are in rural and semiurban areas with nearly 5 crore PMJDY account holders receiving direct benefit transfer (DBT) from the Government under various schemes. Deposits under accounts increased about 6.38 times from 2015 to 2021. Jan Dhan Darshak App It provides a citizen centric platform for locating banking touch points such as bank branches ATMs Bank Mitras Post Offices etc. Over 8 lakh banking touch points have been mapped on the GIS App. It is also being used for identifying villages which are not served by banking touch points within 5 km KEY CONCEPTS AND INFORMATION ON FISCAL POLICY Debt to GDP Ratio It is the ratio of a countrys public debt to its gross domestic product (GDP). It indicates a countrys ability to pay back its debts. o Fiscal Responsibility and Budget Management (FRBM) Act mandated debttoGDP ratio of the Centre to be brought down to 40% and that of states to 20% by 202425. Fiscal Deficit It is the difference between the total income of the government (total taxes and nondebt capital receipts) and its total expenditure. o Fiscal Deficit = Total expenditure of the government (capital and revenue expenditure)Total income of the government (Revenue receipts + recovery of loans + other receipts). StrategicNonstrategic sector bifurcation Guidelines for Central Public Sector Enterprise (CPSE) Disinvestment Released by Ministry of Finance. New Guidelines aims at privatization merger closure or subsidiarization of nonstrategic CPSEs to implement new PSE Policy. Main objective Reduce financial burden on government introduce competition and market discipline encourage wider share of ownership etc. ITAT edwar It is an efiling portal of Income Tax Appellate Tribunal (ITAT) launched by Ministry of Law. It will enhance the accessibility accountability and transparency in the day to day working of the ITAT with other benefits of economization of the use of paper savings in costs and rationalization of the fixation of cases leading to quicker disposal of cases. Place of Effective Management (POEM) With increased exodus of businesses and families by HNI individuals post Covid19 the risks of flouting POEM has increased world focus magazine buy.
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