CURRENT AFFAIRS

Detailed explanation-1: -The first few decades after 1947 saw the Indian National Congress’ (INC) near complete domination over the political map of India. India’s first prime minister-Jawaharlal Nehru-took oath on 15 August 1947.

Detailed explanation-2: -Government releases Rs 22 crore per year for the upkeep of Rashtrapati Bhavan and other expenditures. He gets Rs 50, 000 as basic pay, Rs 3, 000 as expenditure-related allowance, Rs 2 thousand per day that amounts to Rs 60, 000 per month as other allowances and Rs 45, 000 per month as parliamentary constituency allowance.

Detailed explanation-3: -Other notable reforms of the Modi government include PSU bank mergers, disinvestment, corporate tax cut, Ujjawala scheme, demonetisation, the National Single Window System, and the creation of the Bad Bank. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp.