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This article is based on the news “Our Panchayati Raj system is in need of funding empowerment” which was published in the Live Mint. Recently, the Reserve Bank of India (RBI) released its report titled “Finances of Panchayati Raj Institutions” for the years 2020-21 to 2022-23.
Relevancy for Prelims: Reserve Bank of India (RBI), Panchayati Raj In India, Central Finance Commissions (CFCs), Sansad Adarsh Gram Yojana (SAGY), and Panchayat Development Index.
Relevancy for Mains: Finance of Panchayati Raj: Role, Significance, Challenges, Government Initiatives, and Way Forward. |
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Government Initiatives to Strengthen Panchayati Raj Institutions (PRIs)
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The Data Gaps Initiative (DGI) was launched in 2009 by the G20 Finance Ministers and Central Bank Governors (FMCBG) to close the policy-relevant data gaps identified following the global financial crisis. |
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