RBI Financial Stability Report Key Takeaways | Legacy IAS
Context: By the end of December 2021, the Reserve Bank of India (RBI) released its latest Financial Stability Report (FSR). Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy) Dimensions of the Article: What is the Financial Stability Report (FSR)? Highlights of the latest FSR (December 2021) What is the Financial Stability Report (FSR)? […]
EdTech regulation policy on the anvil: Education Minister
Context: The booming education technology sector, which has benefited from the disruptions in traditional education during the pandemic, is likely to face regulation soon by the means of a common policy, according to Education Minister Dharmendra Pradhan. Relevance: GS-II: Social Justice (Issues Related to Education), GS-III: Indian Economy Dimensions of the Article: What is Ed-tech […]
Centre notifies Consumer Protection (Direct Selling) Rules, 2021
Context: Central Government in exercise of the powers by the Consumer Protection Act, 2019 has notified the Consumer Protection (Direct Selling) Rules, 2021. Relevance: GS-III: Indian Economy, GS-II: Governance (Government Policies and Initiatives) Dimensions of the Article: About the Consumer Protection (Direct Selling) Rules, 2021 What is Electronic Commerce (e-commerce)? E-commerce in India About the […]
What are the head and tailwinds in the economy?
Context: For India, the year 2021 that went by has been about rebuilding from the ravages of 2020 amid the COVID-19 storm which had pushed the already slowing economy into contraction mode. The pandemic-related lockdowns sent the stalling economy into free fall, causing output to shrink by 24.4% and 7.4% in the first two quarters […]
Why the RBI kept repo rates unchanged
Context: The Monetary Policy Committee (MPC) of the Reserve Bank of India kept key policy rates unchanged for the ninth time in a row and decided to “continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the […]
Small grant but a big opportunity for local bodies
Context: In early November 2021, a potentially game-changing and transformative development went by, almost unnoticed — the release of almost Rs. 8,500 crores to 19 States, as a health grant to rural and urban local bodies (ULBs), by the Department of Expenditure, the Ministry of Finance. Relevance: GS-III: Indian Economy, GS-II: Governance (Government Policies and […]
India’s informal economy has not shrunk
Context: According to a recent State Bank of India (SBI) Research report, the informal economy in India has been shrinking since 2018. Relevance: GS-III: Indian Economy (Inclusive growth, Government Policies and Interventions) Dimensions of the Article: More about the Informal Economy About India’s Informal Workforce Issues with the SBI Study on the Informal Sector in […]
RBI puts entry of big businesses in banking on hold
Context: The Reserve Bank of India (RBI) has kept in limbo the proposal of its Internal Working Group (IWG) for granting banking licence to big corporate houses amid fears over connected lending and self-dealing if they are allowed in the banking space. Relevance: GS-III: Indian Economy Dimensions of the Article: RBI on entry of big […]
Centre forms four panels to look into EPFO functioning
Context: The Union Government has formed four ad-hoc board-level committees to look into the functioning of different aspects of the Employees’ Provident Fund Organisation (EPFO), including IT, communications and pension. Relevance: GS-III: Indian Economy (Economic development and growth, Government Policies and Initiatives, Issues with the design and implementation of policies) Dimensions of the Article: What […]
Bring in three-rate GST structure
Context: The Government can rationalise the GST rate structure without losing revenues by rejigging the four major rates of 5%, 12%, 18% and 28% with a three-rate framework of 8%, 15% and 30%, as per a National Institute of Public Finance and Policy (NIPFP) study. Multiple rate changes since the introduction of the GST regime […]