RBI Hiked Rates By 50 bps
Context: With inflation remaining at ‘elevated levels’, the Monetary Policy Committee (MPC) of the Reserve Bank of India unanimously decided to raise the policy repo rate by 50 basis points (bps) to 5.4%. Relevance: GS III: Indian Economy Dimensions of the Article: What is the repo rate? Why is the repo rate such a crucial […]
Inflation Is Driving GST Revenue Rise
Context: As per the recent SBI research, High inflation is driving about 8% of the current surge in Goods and Services Tax revenues, and inflation adjusted GST collections so far this year are 26% higher than pre-COVID level. Relevance: GS III- Indian Economy Dimensions of the Article: Key Points What is GST? Goods and Services […]
India’s Trade Deficit
Context: India’s trade deficit has widened to a record $31.02 billion in July thanks to contracting merchandise exports and a rise in imports. This is a three-times increase from the $10.63 billion trade deficit reported in July last year. Relevance: GS III: Indian Economy Dimensions of the Article: What is trade deficit? Is it bad […]
Financial Inclusion Index 2022
Context: The Reserve Bank of India has released the Composite Financial Inclusion Index (FI-Index) for the year ended 31st March 2022. India’s Financial Inclusion Index has improved to 56.4 from 53.9 in the previous year 2021. Relevance: GS III: Indian Economy Dimensions of the Article: What does Financial Inclusion mean? About Financial Inclusion Index (FI Index) What […]
Regional Rural Banks
Context: Recently, a meeting was held between the finance minister and the heads of banks to discuss various reforms in Regional Rural Banks (RRBs). Relevance: GS II: Indian Economy Dimensions of the Article: What are Regional Rural Banks (RRBs)? Functions of RRBs Issues Related to RRBs What are Regional Rural Banks (RRBs)? Set up on […]
Purchasing Managers Index
Context: India’s manufacturing sector rebounded in July, with sales and output growing at the fastest pace since November. The PMI quickened last month to 56.4, from June’s 9-month low of 53.9. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Mobilization of Resources) Dimensions of the Article: What is Purchasing Managers’ Index (PMI)? Understanding […]
India’s First International Bullion Exchange
Context: Prime Minister has launched India’s first International Bullion Exchange (IIBX) at the Gujarat International Finance Tec-City (GIFT City) near Gandhinagar. Relevance: GS III- Indian Economy Dimensions of the Article: What is Bullion? What is the IIBX? How will it work? Advantage of an exchange Significance of IIBX What is Bullion? Bullion is the term for […]
Index of Eight Core Industries
Focus: GS III- Indian Economy Why in News? The combined Index of Eight Core Industries increased by 12.7 per cent (provisional) as compared to the Index of June 2021. The production of Coal, Cement, Electricity, Refinery Products, Fertilizers, Steel, and Natural Gas industries increased in June 2022 over the corresponding period of last year. About Index of […]
Trade Infrastructure for Export Scheme
Focus: GS-III: Indian Economy Why in News? Recently, the central government has released Rs 206 crore to states for the promotion of exports under the Trade Infrastructure for Export Scheme (TIES) initiative. Under the TIES, financial assistance for 27 export infrastructure projects have been approved during FY 2019-20 to 2022-23. About Trade Infrastructure for Export Scheme (TIES) […]
Foreign Direct Investment
Focus: GS-III: Indian Economy (Growth and Development of Indian Economy, External Sector) Why in News? Singapore (27.01%) and USA (17.94%) have emerged as top 2 sourcing nations in equity flows into India in FY2021-22 followed by Mauritius (15.98%), Netherland (7.86%) and Switzerland (7.31%). Details: It may be noted that as per the UNCTAD World Investment […]