IIP NUMBERS AND INDUSTRIAL ACTIVITY IN LOCKDOWN
Focus: GS-III Indian Economy Why in news? The Index of Industrial Production (IIP) numbers for June completes the data for first quarterly estimates of a major sector’s activity during the lockdown phase. Details The IIP has three components by economic activity: mining and quarrying, manufacturing and electricity. These three sub-sectors had a share of around […]
CABINET APPROVES PROPOSAL FOR LEASING OUT THREE AIRPORTS
Focus: GS-III Indian Economy Why in news? The Union Cabinetchaired by the Prime Minister, Shri Narendra Modi has approved the proposal for leasing out three airports namely Jaipur, Guwahati and Thiruvananthapuram airports of Airports Authority of India (AAI) through Public Private Partnership (PPP). Background and Details These projects will bring efficiency in service delivery, expertise, […]
EXPORTS OF AGRICULTURAL COMMODITIES INCREASED
Focus: GS-III Indian Economy, Agriculture Why in news? Exports of agricultural commodities during March to June 2020 increased by 23.24% compared to corresponding period in 2019. Ministry of Agriculture has prepared a comprehensive action plan towards promotion of agri-trade; the two-fold approach focuses on boosting Agri Export with emphasis on value addition and action plan […]
PARTIAL CREDIT GUARANTEE SCHEME (PCGS) 2.0
Focus: GS-III Indian Economy Why in news? Partial Credit Guarantee Scheme (PCGS) 2.0 is extended with greater flexibility to respond to emerging demands. Partial Credit Guarantee Scheme (PCGS) 2.0 As part of Aatmanirbhar Bharat Abhiyan, announced by the Government, Partial Credit Guarantee Scheme (PCGS) 2.0 was launched. Under the scheme, provide Portfolio Guarantee for purchase […]
RETAIL INFLATION ACCELERATES TO 6.93% IN JULY
Focus: GS-III Indian Economy Why in news? India’s retail inflation accelerated to 6.93% in July from 6.23% in the preceding month, dimming chances of further policy rate cuts by the Monetary Policy Committee of the Reserve Bank of India any time soon. Details Data released by the National Statistical Office showed food inflation again picked […]
INDIA’S FOREIGN TRADE: JULY2020
Focus: GS-III Indian Economy Why in news? India’s overall exports (Merchandise and Services combined) in April-July 2020-21 showed a negative growth of (-) 21.99per cent over the same period last year. Overall imports in April-July 2020-21 showed a negative growth of (-) 40.66per cent over the same period last year. Details Major commodities which have […]
SUPREME COURT ALLOWS FIRMS TO NEGOTIATE WITH STAFF
Focus: GS-II Indian Economy Why in news? The Supreme Court asked factory owners and other private industrial establishments to negotiate terms and enter into settlements with their workers on the payment of wages during the lockdown period. Details The court urged employers and employees to sort out their differences and resume work in a congenial […]
ECONOMIC IMPACT TO VARY IN SECTORS
Focus: GS-III Indian Economy Why in news? World Bank expects India’s gross domestic product (GDP) to contract by 3.2% in 2020-21. There will be a moderate recovery to 3.1% growth in 2021-22. This means that 2021-22 GDP will be less than what it was in 2019-20. Contraction in Growth is not Uniform It can be […]
GST COUNCIL PROVIDES SOME RELIEF TO INDIA INC
Focus: GS-III Indian Economy Why in news? Looking to ease compliance burden on businesses, the Goods and Services Tax Council decided provide relief to taxpayers on late fee and interest payable on delayed tax payments. Details The Council reduced late fee and interest for those businesses with tax liabilities and waived off late fee completely […]
FITCH ON RBI’S DEBT REVAMP PROPOSAL
Focus: GS-III Indian Economy Why in news? A one-time debt restructuring allowed by the Reserve Bank of India (RBI) to help lenders and borrowers amid the COVID-19 pandemic will prolong uncertainty about the banking sector’s asset quality, Fitch Ratings said. Details The policy could open a window for banks to build capital buffers while putting […]