RBI Monetary Policy Update
Context: On expected lines, the Reserve Bank of India (RBI) left the repo rate unchanged at 6.5% for the third time in a row amid concerns over rise in inflation. Relevance: GS III: Indian Economy Dimensions of the Article: Recent Monetary Policy and RBI Decisions: Policy Repo Rate and CRR: Incremental Cash Reserve Ratio (I-CRR): […]
Medium Term Expenditure Framework
Context: Recently, the Ministry of Finance has conveyed its inability to release the Medium Term Expenditure Framework (MTEF) statement, mandated by the Fiscal Responsibility and Budget Management (FRBM) Act of 2003. Relevance: GS III: Indian Economy Dimensions of the Article: Medium-Term Expenditure Framework (MTEF): The Medium-Term Expenditure Framework (MTEF) is a fiscal planning tool used […]
Import Restrictions on Laptops, Computers, and Components by India’s DGFT
Context: Recently, India’s Directorate General of Foreign Trade (DGFT) has announced that from November 1, 2023, it will restrict the import of laptops, computers, and their components , focusing on items under Harmonised System of Nomenclature (HSN) Code 8471. Restriction shall not be applicable to imports under baggage rules. Relevance: GS III: Indian Economy Dimensions […]
Revised Good Manufacturing Practices
Context: Recently, the government of India has directed all pharmaceutical companies to implement the Revised Good Manufacturing Practices (GMP), bringing their processes at par with Global Standards. Relevance: GS II: Indian Economy Dimensions of the Articles Good Manufacturing Practices (GMP) Addressing Key Risks: GMP focuses on minimizing various critical risks associated with pharmaceutical production, including: […]
About The Purchasing Managers Index
Context: According to S&P Global, The Services Purchasing Managers” Index (PMI) recently reached an impressive 13-year high of 62.3 in July after a three-month low in June. Highlights the sector’s resilience and its role in driving economic growth. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Mobilization of Resources) Dimensions of the Article: […]
About The BharatNet Project
Context: The Union Cabinet has approved an outlay of Rs 1.39 lakh crore for BharatNet, the government’s project for last-mile connectivity across 6.4 lakh villages in the country. Relevance: GS III: Indian Economy Dimensions of the Article: BharatNet Project: Transforming Rural Broadband Connectivity […]
Vivad se Vishwas II
Context: Recently, the Ministry of Finance launched the scheme, “Vivad se Vishwas II to effectively settle the pending contractual disputes of government and government undertakings. The scheme was announced in the Union Budget 2023-24 by the Union Finance Minister. Relevance: GS III: Indian Economy Dimensions of the Article: Vivad Se Vishwas-II Scheme: Key Features: Objectives: […]
About The Sovereign Credit Rating
Context: Global credit rating agency Fitch recently downgraded US Sovereign rating from AAA to AA+. Relevance: GS III: Indian Economy Dimensions of the Article: Sovereign Credit Rating: Significance of Sovereign Credit Rating Access to Funding for Development Projects: Attracting Foreign Direct Investment (FDI): Influencing Borrowing Costs: -Source: Indian Express
Seven Unique Indian Crafts Receive Geographical Indication Tags
Context: The Geographical Indications Registry in Chennai has awarded Geographical Indication (GI) tags to seven products from different regions of India, showcasing the country’s diverse craftsmanship. Relevance: GS III: Indian Economy Dimensions of the Article: New GI Tags for Indian Crafts: Geographical Indications (GI) Tag Definition and Importance: Administration and Registration: Significance and Examples: Ownership […]
About The Worldcoin Project
Context: Recently, OpenAI CEO formally re-introduced Worldcoin project of his that was eclipsed by the popularity of ChatGPT. Relevance: GS III: Indian Economy Worldcoin Project: Creating a Digital Network with Human Stakeholders Proof of Personhood: Crypto Rewards and Transactions: World’s Largest Identity and Financial Public Network: Locations: Source: The Hindu