Weak Insolvency Regime?
Context The Supreme Court recently ruled that Section 7(5) (a) of the Insolvency and Bankruptcy Code (IBC) grants the adjudicating authority, i.e. the National Company Law Tribunal (NCLT), discretionary power to admit an application under the Code by a financial creditor for the initiation of a corporate insolvency resolution process (CIRP). With its aforementioned finding, […]
Ude Desh Ka Aam Naagrik (UDAN)
Focus: GS III- Indian Economy Why in News? Annual passenger traffic increased from 2.6 lakh to 33 lakh in five years under UDAN Scheme About Ude Desh Ka Aam Naagrik (UDAN): Nodal: Ministry of Civil Aviation (MoCA) It is an innovative scheme to develop the regional aviation market. Objective: To create affordable yet economically viable and […]
About FAME-II
Focus: GS III- Indian Economy (Infrastructure) Why in News? The Ministry of Heavy Industries has sanctioned 2,877 Electric Vehicle Charging Stations in 68 cities across 25 States/UTs under Phase-II of FAME India (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India). About FAME-II FAME India is a part of the National Electric Mobility […]
RBI Seeks Ban on Cryptocurrency
Context: The Reserve Bank of India (RBI) has recommended a ban on cryptocurrencies citing ‘destabilising effects’ for the country’s monetary and fiscal health. China has declared all cryptocurrency transactions illegal, effectively imposing a complete ban, whereas El Salvador has permitted Bitcoin as legal tender. Relevance: GS III- Indian Economy Dimensions of the Article: What is the state […]
The Rupee Fall: Where It Is Heading
Context When the rupee depreciates, buying (importing) something from outside India becomes costlier. But if one is trying to sell (export) goods and services to the rest of the world (especially the US), a falling rupee makes India’s products more competitive. Relevance Mains GS Paper III: Fiscal policy, Monetary policy, Impact of free fall of the […]
What is Goods and Services Tax (GST) ?
Focus: GS II- Indian Economy Why in News? Customers will have to pay a 5% Goods and Services Tax (GST) on pre-packed, labelled food items such as atta, paneer and curd, besides hospital rooms with rents above ₹5,000. What is GST? GST is a destination-based indirect tax and is levied at the final consumption point. […]
The Pakistan And IMF Talks
Context: Recently, the staff-level talks between Pakistan and the International Monetary Fund (IMF) concluded for the seventh and eighth review under Extended Fund Facility (EFF). Relevance: GS III- Indian Economy Dimensions of the Article: About International Monetary Fund (IMF) What was the Extended Fund Facility (EFF)? How important is the IMF support to Pakistan? Why […]
Concerns Over Current Account Deficit
Context In its latest review of the economy the Finance Ministry is sanguine about India’s economic recovery and has asserted that major macro-economic risks have subsided over the past six weeks. The Finance Ministry has asserted that the current account deficit (CAD) could, however, deteriorate this year mainly due to rising trade deficits Relevance GS Paper […]
Increase in Current Account Deficit
Context: The Finance Ministry has asserted that the current account deficit (CAD) could, however, deteriorate this year mainly due to rising trade deficits. Relevance: GS III- Indian Economy (Growth and Development) Dimensions of the Article: What is the Current Account Deficit? What is Balance of Payments? What has been the recent trend? What are the […]
What Is The Sarfaesi Act?
Context: Banks have invoked the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act against telecom infrastructure provider GTL to recover their pending dues.Context: GS III- Indian Economy Dimensions of the Article: What is the Sarfaesi Act? Why was such a law needed? What powers do banks have under the law? […]