CHINA SUGGESTS SHIFT IN BRI APPROACH
Why in news? China has hinted at a shift in how it will pursue its signature Belt and Road Initiative (BRI) amid growing concerns about debt repayments from many partner countries because of the coronavirus (COVID-19) pandemic. In recent weeks, China has faced calls from countries in Asia and Africa to delay or waive debt […]
LISTENING TO THE CALL OF THE INFORMAL
Context and Details: The key question here is: Who benefits from formalisation of informal firms? Formalisation does reduce the last-mile costs for banks. The state finds it easier to monitor and to tax the firms that adopt its version of formality. However, the process can also produce adverse outcomes for the informal sector firms themselves […]
ON THE FRONT FOOT
Why in news? The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) decided at a meeting to keep the interest rates unchanged in the wake of a rise in inflation, but emphasised that there would be space for rate reduction The introduction of one- and three-year term repos at policy rate of 5.15% […]
REDUCE THE COUNTRY’S PREFERENCE FOR CASH
Why in news? The first two weeks of March 2020 saw a jump of about ₹53,000 crore in cash available with the public, a spike over the fortnightly average of ₹8,435 crore over the previous 12 months. The surge continued into lockdown, in spite of apprehensions that RBI notes could act as carriers of coronavirus. […]
NOW OR NEVER: STATES ARE DRIVING BOLD REFORMS
Why in news? Uttar Pradesh, Madhya Pradesh and Gujarat have ushered in radical labour market reforms by freezing a vast number of acts and giving industries flexibility. MP has initiated a series of ease-of-doing-business process reforms: A single form for registration. Valid licences for the life of a project with no annual renewal. Shops can […]
INDIA SIGNS $1.5 BILLION LOAN WITH ADB
Focus: GS-II Indian Economy, Prelims Why in news? The Government of India and the Asian Development Bank (ADB) signed a $1.5 billion loan that will support the government’s response to the novel coronavirus disease (COVID-19) pandemic on 28th April 2020. Earlier, the ADB’s Board of Directors approved the loan to provide budget support to the government […]