CBDT Signs 125 Advance Pricing Agreements in FY 2023-24
Context: The Central Board of Direct Taxes (CBDT) has achieved a significant milestone by signing 125 Advance Pricing Agreements (APAs) during the fiscal year 2023-24. Relevance: GS III: Indian Economy Dimensions of the Article: What is an Advance Pricing Agreement (APA)? Definition: Purpose: Contribution to Ease of Doing Business: Voluntary Process: Duration: Data Protection: Types […]
Gold Price Dynamics and Correlations
Context: Recently, Global price of gold (24 carat) was $2,349.88 per ounce. In India it was ₹7,174 per gram. Relevance: GS III: Indian Economy Dimensions of the Article: Gold Price Dynamics and Correlations Current Gold Prices: Recent Trends: Correlation Factors: Reasons for Correlations: Factors Determining Global Gold Prices Supply Side Factors: Demand Side Factors: Determinants […]
About Settlement in Indian Rupees (SRVA)
Context: India has simplified the payment mechanism for traders importing pulses from Myanmar, requiring them to use the Rupee/Kyat direct payment system through the Special Rupee Vostro Account (SRVA) through the Punjab National Bank. Relevance: GS III: Indian Economy Dimensions of the Article: About Settlement in Indian Rupees (SRVA) Overview Objective Regulatory Approval Functioning of […]
What are Green Bonds?
Context: Recently, the Reserve Bank of India (RBI) green lighted investments in the country’s Sovereign Green Bonds (SGrBs) by Foreign Institutional Investors (FIIS). Relevance: GS III: Indian Economy Dimensions of the Article: What are Green Bonds? Why are these bonds important? How beneficial is it for investors? What is the difference Between SGB and Other Bonds? Risks […]
Income Inequalities Hamper Sustainable Growth
Context: In the current fiscal year, the Indian economy is anticipated to achieve a 7.6 percent growth in real GDP, building upon the impressive growth rates of 9.1 percent in 2021-22 and 7.2 percent in 2022-23. This trend, coupled with the Prime Minister’s commitment to robust economic reforms during his third term, has generated optimism among […]
Global Trade Outlook & Statistics Report
Context: The World Trade Organisation has published the latest edition of the Global Trade Outlook & Statistics Report. Relevance: GS III: Indian Economy Dimensions of the Article: Global Trade Outlook & Statistics Report Overview Key Forecasts Import Trends Global GDP Growth Trade Value Resilience of Global Trade Inflation and Income Growth Risks and Uncertainties About […]
MNRE Reinstates 2021 ALMM List to Boost Local Solar Module Manufacturing
Context: In March 2024, the Ministry of New and Renewable Energy (MNRE) announced the re-implementation of its 2021 notification for the ‘Approved List of Models and Manufacturers of Solar Photovoltaic (PV) Modules’, commonly referred to as the ALMM list. This move aims to bolster local sourcing of solar modules and bolster India’s renewable manufacturing ecosystem. […]
What are Critical Minerals?
Context: Khanij Bidesh India Limited (KABIL) has signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research – Institute of Minerals and Materials Technology (CSIR-IMMT) for Technical & Knowledge cooperation for Critical Minerals. Relevance: GS III- Indian Economy Dimensions of the Article: What are Critical Minerals? Why is this resource critical? […]
RBI Monetary Policy Update
Context: The recent Monetary Policy Committee meeting of the RBI Friday kept the repo rate unchanged for the seventh consecutive time at 6.5 per cent. Relevance: GS III: Indian Economy Dimensions of the Article: Key Highlights of the MPC Meeting Repo Rate Status Policy Stance Retention GDP Growth and Inflation Forecast Investment Activity Outlook Rupee […]
India’s Economic Status and Roadmap to Development
Context: Currently, India is classified as a “lower-middle income” country with a per capita GDP ranging between $1,136 and $4,465. In contrast, China stands as an “upper-middle income” nation with a per capita GDP between $4,466 and $13,845. Looking ahead, even with a modest annual GDP growth rate of 6%, India is projected to become […]