The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the continuation of the Atal Innovation Mission (AIM) for a further period till March 2023.
The Union Cabinet has approved USD 808 million (INR 6,062.45 crore) for a new scheme 'Raising and Accelerating MSME Performance' (RAMP). The new scheme assisted by the World Bank is expected to commence in the financial year of 2022-23.
The Reserve Bank of India (RBI) maintained an accommodative stance and cut the real Gross Domestic Product (GDP) growth projection for the 2022-23 to 7.2 percent, against the earlier projection of 7.8 percent.
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