# Economic survey

• India’s economy is firmly in the middle of a v-shaped recovery and will bounce back to record 11% growth in 2021-22.

• Indian economy is estimated to contract 7.7% in 2020-21.

• Rapid vaccine roll out can boost ailing services sectors, spur consumption and investment.

• Chief economic advisor suggest to shift fiscal gears from cautious stance to “counter cyclical” push.

# `FCRA RULES

• The union home ministry has laid down a charter for banks which says that “donations” received in Indian rupees by NGOs and associations from any foreign source even if that source is located in India at the time of such donations should be treated as “foreign contributions”.

• Foreign contributions regulatory agency (FCRA) regulates foreign donations and ensures that such contributions do not adversely affect the internal security of the country.

• All NGOs seeking foreign donations have to open a designated FCRA account at the SBI branch by march 31.

# Novavax

• American company “Novavax”, whose covid-19 vaccine is set to be made in large numbers by pune based SII.

• This vaccine has proved to have 89% efficacy in preventing the infections in trials in UK.

• This same vaccine had showed 60% efficacy in south africa.

# Base necessities gap

• Poorer states have reduced the gap with rich states in providing citizens with access to the basics of daily life.

• These basics of daily life include having water, power, sanitation. cooking gas – according to a new ” bare necessities index” (BNI).

• Access to the base necessities has improved disproportionately more for the power households when compared to the richest households across rural and urban areas.

# Health sector

• The pradhan mantri Jan arogya yojana (PM-JAY) contributed to improvement in many health outcomes in states that implemented the PM-JAY.

• States that joined the PM-JAY, compared to those that did not, experience greater penetration of health insurance, reduction in infant and child mortality rates etc.