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 […]
Defence exports have grown by 334% in 5 years
Context: The Defence Minister said that with collaborative efforts of entities from all over the world, the defence exports have grown by 334% in the last five years and India now is exporting to more than 75 countries. Relevance: GS-III: Indian Economy (Foreign Trade), GS-III: Science and Technology (Indigenization of technology & development of new […]
India seeks vaccine loans from ADB, AIIB
Context: The Government of India has applied for loans from the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) to procure as many as 667 million doses of COVID-19 vaccines. The ADB is expected to lend $1.5 billion and the AIIB around $500 million for the vaccine purchase by the Government of […]
Rupee, bonds gain on global oil price decline
Context: The rupee and bonds strengthened as a drop in global crude oil prices helped calm investor worries over sustained imported inflationary pressures in the economy. Traders said bond yields too dropped – the 10-year bond yield was trading at 6.33%, down 1 basis point on the day after having touched 6.31% earlier in the […]
RBI microfinance proposals that are anti-poor
Context: The Reserve Bank of India (RBI) proposed to lift the interest rate cap on Microfinance Institutions (MFIs), and said all micro loans should be regulated by a common set of guidelines irrespective of who gives them. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Banking, Inclusive Growth) Dimensions of the Article: Concerns […]
Crackdown in China, hope in India
Context: In 2020, China stopped Ant Group’s blockbuster initial public offering and since then high-profile crackdowns on Chinese tech companies are increasingly common. Relevance: GS-II: International Relations (India’s Neighbours and Foreign policies affecting India’s Interests), GS-III: Indian Economy (Growth and Development of Indian Economy) Dimensions of the Article: China’s crackdown on tech industry Why China […]
Oil importer India’s options as price surges
Context: As the world’s third-largest oil importer and consumer, India is running out of options as the relentless surge in international oil prices make it imperative to pass them on to consumers. Relevance: GS-III: Indian Economy (International Trade, Mobilization of Resources, Growth and Development of Indian Economy) Dimensions of the Article: Why are crude oil […]
Government notifies new rules to clear retro tax mess
Context: Setting the stage for a closure of the retrospective tax disputes over indirect transfer of assets situated in India, the government notified new rules under the Income Tax Act for specifying the process to be followed by affected taxpayers to settle long-brewing disputes. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Fiscal […]