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 […]
Central Bank Digital Currency
Context: According to the recent reports the Reserve Bank of India’s (RBI) digital rupee — the Central Bank Digital Currency (CBDC) — may be introduced in phases beginning with wholesale businesses in the current financial year. Relevance: GS III: Indian Economy Dimensions of the Article: About Central Bank Digital Currency (CBDC) Why are central banks […]
The ‘Developed Country’ Goal
Context: In his Independence Day address, Prime Minister asked Indians to embrace the “Panch Pran” — five vows — by 2047 when the country celebrates 100 years of independence. The ‘developed country’ goal is the first of the five vows that Prime Minister exhorted Indians to take during his address to the nation on Independence […]
Emergency Credit Line Guarantee Scheme
Context: The Union Cabinet, chaired by the Prime Minister has approved the enhancement in the limit of Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 50,000 crore from Rs. 4.5 Lakh crore to Rs. 5 Lakh crore, with the additional amount being earmarked exclusively for enterprises in hospitality and related sectors. The increase has been […]