CURRENT AFFAIRS

Detailed explanation-1: -This is the first stalled project completed with funding by SWAMIH Fund, which is managed by SBICap Ventures Ltd. The Department of Economic Affairs under the Ministry of Finance administers the scheme. “SWAMIH Fund I, under which 640 people are getting homes today, will benefit 1.16 lakh Indian families.

Detailed explanation-2: -Sitharaman’s budget for the fiscal year starting April 2023 is her fifth straight since 2019. Other ministers who have presented five straight annual financial statements include Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.

Detailed explanation-3: -SWAMIH Investment Fund I is India’s largest social impact fund aiming to provide priority debt financing for the completion of stressed, brownfield and RERA registered residential projects that fall in the affordable, mid-income housing category.

Detailed explanation-4: -Who is the fund manager for SWAMIH Fund? Notes: SWAMIH Fund is an Alternative Investment Fund, which has been formed by the Government of India, to provide Debt financing to complete the stalled housing projects in India. SBICap Ventures Ltd has been appointed as the fund manager.

Detailed explanation-5: -After Independence, India’s first Finance Minister, Shri Shanmukham Chetty, presented the first budget of independent India on 26th November, 1947.