Pointers that India is witnessing a K- shaped recovery
Context: There has been great chatter about a V-shaped recovery for quite a while, ever since the first lockdown following the novel coronavirus pandemic. However, some of the view that there is undeniably some type of recovery, but one can hardly label it V-shaped. The recovery we see today is more K-shaped than V-shaped, with […]
New cryptocurrency bill seeks to ban private players
Context: The Union Government will introduce a Bill to regulate cryptocurrency and ostensibly ban all private cryptocurrencies, along with 25 other pieces of legislation, in the winter session of Parliament that begins on November 2021. Relevance: GS-II: Governance (Government Policies and Interventions, Issues arising out of the design and implementation of policies), GS-III: Indian Economy […]
Co-op societies are not banks, RBI cautions
Context: The Reserve Bank of India (RBI) has cautioned members of the public not to deal with co-operative societies undertaking banking business by adding ‘bank’ to their names. Relevance: GS-III: Indian Economy Dimensions of the Article: About the RBI’s concern regarding Cooperative banks What are Cooperative Banks? Structure of co-operative banks in India Importance of […]
India largest recipient of remittances in 2021: World Bank
Context: India received $87 billion in remittances in 2021, and the United States was the biggest source, accounting for over 20% of these funds, the World Bank said in its latest report. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Human Resource, Indian Diaspora) Dimensions of the Article: What are remittances? World Bank’s […]
US inflation and impact on India
Context: Retail inflation in the US has risen to 6.2% which is the highest year-on-year jump in 3 decades. However, U.S. consumers withstood rising inflation to power a burst of shopping ahead of the holiday season. Relevance: GS-III: Indian Economy Dimensions of the Article: What is Inflation? Rising Inflation in U.S. Effect of US Inflation […]
Stakeholders urge regulation of crypto market
Context: The Standing Committee on Finance in its first meeting on cryptocurrency met stakeholders who argued that the crypto market must be regulated. Relevance: GS-III: Indian Economy (Banking, Money, Monetary Policy), GS-III: Science and Technology (Developments in Science and Technology, Application of Technology in Daily life, Blockchain technology) Dimensions of the Article: What are cryptocurrencies? […]
A tax burden that attacks the federal rights of States
Context: The Narendra Modi Government reduced excise duty on petrol and diesel and this reduction was ‘dedicated’ the reduction to farmers for keeping “the economic growth momentum going even during the Covid-19 Pandemic. However, the Centre has been levying around ₹31 and ₹33 as additional cess on petrol and diesel, respectively, till the beginning of […]
China’s economy weakens
Context: China’s National Bureau of Statistics has reported that third-quarter Gross Domestic Product (GDP) growth has slowed to 4.9%, hence, there are concerns that a slowing Chinese economy could impact the incipient global recovery and regional economies like India as well. Relevance: GS-III: Indian Economy (Growth and Development of Indian, Economy, Foreign Trade) Dimensions of […]
Experts call for review of IMF role
Context: Leading experts have suggested the need to review the role of IMF due to changing economic weight of emerging countries, stressing on completing quota reforms and maintaining data integrity amid the World Bank discontinuing its Ease of Doing Business reports. Relevance: GS-III: Indian Economy (International Organizations) Dimensions of the Article: International Monetary Fund (IMF) […]
Energy transition poses inflation risks
Context: The one member of the RBI’s Monetary Policy Committee (MPC) to vote against continuing with the central bank’s ‘accommodative’ policy stance said that the ongoing worldwide transition to green energy poses a significant risk of triggering energy price shocks similar to the 1970s, which would accelerate inflation. Relevance: GS-III: Indian Economy (Growth and Development […]