FPI SALES AT A RECORD HIGH AS VIRUS SPOOKS MARKETS
Focus: GS-III Indian Economy, Economic Development Why in news? Foreign portfolio investors (FPIs), who have been the prime drivers of every bull run that the Indian capital market has seen till date, have been record sellers during the March 2020 month. Till 17th of March, FPIs equity sold and debt cumulatively is the highest ever […]
INDIA’S CURRENT ACCOUNT DEFICIT EASES TO 0.2% OF GDP
Focus: GS-III Indian Economy, Economic Development, Prelims Why in news? India’s current account deficit almost got wiped out in the December quarter standing at just $1.4 billion due to lower trade deficit and a rise in net services receipts, according to data released by Reserve Bank of India on 12th March 2020. Details Private transfer […]
OIL SURGES ON HOPE OF ECONOMIC STIMULUS
Focus: GS-III Economic development Why in news? Oil prices surged by around 8% on 10th March 2020, a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signalled that talks with OPEC remained possible. Joint Steps with Russia Russian Oil Minister Alexander Novak said he […]
GOVERNMENT TO LAUNCH MAHUA-BASED ALCOHOLIC DRINK
Focus: GS-III Agriculture, Economic Development Why in news? The government is set to launch a mahua-based alcoholic beverage in the market for the first time. Called Mahua Nutribeverage. The beverage has a high nutritional value and relatively low alcohol content, at 5 per cent. It has been developed by IIT-Delhi after two years of research […]
DICGC: RELEVANCE IN THE WAKE OF YES BANK ISSUE
Focus: GS-III Indian Economy, Economic Development Deposit Insurance and Credit Guarantee Corporation (DICGC) Deposit Insurance and Credit Guarantee Corporation (DICGC) is a wholly owned subsidiary of Reserve Bank of India. It was established on 15 July 1978 under the Deposit Insurance and Credit Guarantee Corporation Act, 1961. Hence, it is a Statutory body. It was […]
BOND YIELDS DECLINE ON EXPECTATION OF RATE CUT
Focus: GS-III Indian Economy, Economic Development Why in news? There is a growing expectation in the domestic market that the Reserve Bank of India will be cutting the repo Rate after the U.S. Federal Reserve reduced interest rates on 3rd March 2020, to fight the economic slowdown due to the spread of COVID-19. Bond yields […]
CUT IN BUDGETARY ALLOCATION WILL JEOPARDISE TOURISM: HOUSE PANEL
Focus: GS-III Indian Economy, Economic Development Why in news? The Finance Ministry’s move to cut down the budgetary allocation for the Tourism Ministry in the 2019 financial year will ‘seriously jeopardise’ the targeted tourism outcomes during 2020-21, a Parliamentary panel has said in its report. Details The huge mismatch between the projected demand for funds […]
GOVT. SWEETENS AIR INDIA OFFER, PUTS 100% STAKE ON THE TABLE
Why in news? The Union government invited bids for a 100% stake sale of Air India (AI) and transfer of management control along with its complete share in two subsidiaries What will a bidder get? The buyer will get a total of 146 aircraft, 56% of which are owned by the airline group, while the […]
CENTRAL BOARD OF INDIRECT TAXES & CUSTOMS
Why in news? Ease of Doing Business in India has risen Business Rankings by being transparent, accountable and logical.(CBIT) This rise in rankings is due to the efforts of the officers of CBIC as Trading Across Borders is one of the key parameter of the rankings and it is credit to the efforts of CBIC […]
ANTI-PROFITEERING BODY STEPS UP GST COMPLIANCE DRIVE
Why in news? NAA with the Centre stepping up a GST, A wave of orders is expected in the months of February, March and April of 2020, with the Centre stepping up a goods and services tax (GST) compliance drive. Background The National Anti-profiteering Authority (NAA) was established under section 171 of the Central Goods […]