CURRENT AFFAIRS

Detailed explanation-1: -The World Bank and the Government of India signed here today in New Delhi a $250 Million Agreement for the National Rural Economic Transformation Project (NRETP) which will help women in rural households shift to a new generation of economic initiatives by developing viable enterprise for farm and non-farm products.

Detailed explanation-2: -The Ministry of Rural Development (MORD) has launched NRETP with an aim to promote cluster development in the farm and nonfarm sector. The key focus of the project is to transform the economic participation of institutional groups by enabling them to engage in farm and non-farm activities with a strong footing.

Detailed explanation-3: -Duration: The $250 Million Loan from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a final maturity of 20 years.

Detailed explanation-4: -Tamil Nadu State Rural Livelihoods Mission (TNSRLM) The Government of Tamil Nadu is implementing a special scheme called Tamil Nadu State Rural Livelihood Mission from the year 2012-13. The Mission activities are funded by Government of India and the State Government in the ratio of 60:40.

Detailed explanation-5: -National Rural Livelihood Mission (NRLM) National Rural Livelihood Mission.