Financial Stability and Development Council
Focus: GS III- Indian Economy Why in News? Recently, the Union Minister of Finance and Corporate Affairs chaired the 26th Meeting of the Financial Stability and Development Council (FSDC). Highlights: The council placed a strong emphasis on issues such as improving the effectiveness of the current financial and credit information systems, early warning indicators for the economy […]
Windfall Tax By The Government
Context: Recently, Finance Minister defended the windfall tax imposed by the Centre on domestic crude oil producers, saying that it was not an ad hoc move but was done after full consultation with the industry. Relevance: GS III: Indian Economy Dimensions of the Article: What is a windfall tax? Why are countries levying windfall taxes […]
PLI Scheme for Large-Scale Electronics Manufacturing
Focus: GS III: Indian Economy Why in News? Recently, the first-ever disbursement has been approved by the empowered Committee in Production Linked Incentive (PLI) scheme for mobile manufacturing under ‘Large-Scale Electronics Manufacturing’ sector. About PLI scheme for Large-Scale Electronics Manufacturing It is mapped to the Union Ministry of Electronics and Information Technology (MEITY). The PLI scheme […]
Sharp Slide In Global Oil Prices
Context: Brent crude prices have fallen sharply over the last ten days, the prices have declined to under USD 90 per barrel. While they were trading at around $110 per barrel in July,2022. Relevance: GS III: Indian Economy (Growth and Development) Dimensions of the article: What led to the sharp slide in Global Crude Oil […]
Purchasing Managers Index
Context: The services sector rebounded in August from a four-month low in July and created the most jobs in 14 years as input cost pressures eased to the slowest pace in 11 months, as per S&P Global India Services Purchasing Managers’ Index (PMI), which expanded to 57.2 last month, from July’s 55.5. Relevance: GS-III: Indian […]
India Surpasses UK As The 5th Largest Economy
Context According to Bloomberg’s most recent calculations, India has surpassed the United Kingdom to become the world’s fifth-largest economy in late March 2022. This news came at a time when Prime Minister Modi urged the countrymen to resolve to become a developed country by 2047 during his 2022 Independence Day speech. Relevance GS Paper 3: […]
The Improvement in GDP Growth
Context According to NSO data, India’s GDP increased 13.5% in the April-June quarter of the current fiscal year (FY 2022-23), up from 4.1% in the previous quarter but less than the 20.1% reported in the first quarter of 2021-22. This means that the Indian economy grew at its fastest rate in a year (though at […]
GST Revenues Cross ₹1.4 Lakh Cr. Mark Again
Context: India’s gross revenues from the Goods and Services Tax (GST) were ₹1,43,612 crore in August, 28% higher than a year ago. Relevance: GS II- Indian Economy Dimensions of the Article: Details What is GST? GST Act What are GST Slabs? Details: India’s Gross revenues from the Goods & Services Tax has witnessed a significant […]
New Norms to Invest Overseas
Context: Recently, The Ministry of Finance noticed new norms making it easier for domestic corporates to invest abroad, while making it tougher for loan defaulters and those facing a probe by investigative agencies to invest in overseas entities. Relevance: GS III: Indian Economy Dimensions of the Article: Key Highlights of the New Rules Significance of […]
The Digital Rupee — Central Bank Digital Currency
Context According to reports, the Reserve Bank of India’s (RBI) digital rupee — the Central Bank Digital Currency (CBDC) — could be introduced in stages, starting with wholesale businesses in the current fiscal year. Finance Minister Nirmala Sitharaman stated in her Budget speech on February 1 that the CBDC would be launched in fiscal year […]