Why India’s oil and gas production is falling?
Context: India’s crude oil production fell by 5.2 per cent and natural gas production by 8.1 per cent in the FY21. While Covid-19 related delays are among the key reasons cited by producers behind lower production, India’s crude oil and natural gas production have been falling consistently since 2011-12. India’s crude oil and natural gas […]
Rupee weakness and Ways and Means credit
Context: Reserve Bank of India is intent on preventing any further depreciation in the currency as the surge in COVID-19 cases hits jobs and growth. The rupee has already lost 2.6% against the dollar so far in April 2021, putting it on the cusp of marking its worst month since the pandemic hit the country […]
COVID-19 impacts 82% of small businesses: Survey
Context: A recent survey has showed that more than 82% of businesses have suffered a negative impact on account of COVID-19 and 70% expect it will take almost a year for demand to recover to pre-pandemic levels. Relevance: GS-III: Indian Economy (Growth & Development of Indian Economy) Dimensions of the Article: Highlights of the Survey […]
U.S. Treasury keeps India on currency watch list
Context: India is one of the 11 countries on the U.S. Treasury’s ‘Monitoring List’ with regard to their currency practices, according to the April 2021 edition of the semi-annual report, the first from the Biden administration. India was on the list in the December 2020 report as well. Relevance: GS-III: Indian Economy, GS-II: International Relations […]
Rupee logs sixth straight session of loss
Context: The Indian Rupee fell for the sixth straight session and depreciated to a nine-month low of 75.4 against the USD, it is one of the biggest losers among the emerging market currencies. Relevance: GS-III: Indian Economy (Macroeconomics, Monetary Policy, Fiscal Policy, Capital Market) Dimensions of the Article: Understanding Currency Depreciation and the Factors Reasons […]
WPI inflation quickens to a record 7.4%
Context: Inflation based on the Wholesale Price Index (WPI) accelerated in March 2021 to a record 7.4%, a surge that is expected to feed into higher retail prices in the near term. Relevance: GS-III: Indian Economy (Macroeconomics, Inflation, Monetary Policy) Dimensions of the Article: What is Inflation? What is Wholesale Price Index (WPI)? What is […]
Moody’s on India’s Public Debt Level
Context: Moody’s Investors Service said that India’s public debt level is among the highest in emerging economies with a quantitative easing programme underway, while its debt affordability is among the weakest. Relevance: GS-III: Indian Economy (Economic Growth and Development in India) Dimensions of the Article: What are Emerging markets/economies? What is Public Debt? Is Public […]
RBI’S MPC KEEPS POLICY RATES UNCHANGED
Context: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) voted unanimously to leave the policy repo rate unchanged at 4%. Relevance: GS-III: Indian Economy (Economic Growth and Development in India, Monetary Policy) Dimensions of the Article: Instruments of Monetary Policy RBI’s MPC decision Highlights of what was said by the RBI […]
GOVT. AMENDS INSOLVENCY LAW THROUGH ORDINANCE
Context: The government has amended the insolvency law to provide for a pre-packaged resolution process for micro, small and medium enterprises. Relevance: GS-III: Indian Economy (Development and Growth of Indian Economy, Banking Sector and NBFCs, NPAs) Dimensions of the Article: About the Ordinance passed by the Government Insolvency and Bankruptcy Code (Amendment) Bill, 2020 Objectives […]
DELAY IN CBDT APPOINTMENTS RAISES CONCERNS
Context: A delay in appointing members of the Central Board of Direct Taxes (CBDT), the apex body of the Income Tax Department, is puzzling the entire revenue service and tax bureaucracy. The Committee of Secretaries (CoS) shortlisted names for CBDT members, however, there appears to be no progress in the appointment process, and the government […]