RBI’S FOCUS ON LIQUIDITY IS CORRECT
Focus: GS-III Indian Economy Why in news? The central bank has an armoury of weapons and it will not hesitate to deploy them to mitigate the impact of COVID-19 on the economy. The two steps that RBI Governor has outlined now: forex swap and a second long-term repo operation (LTRO) of ₹1 lakh crore – […]
GST ON MOBILE PHONES INCREASED TO 18%
Focus: GS-III Indian Economy Why in news? Mobile phones are likely to get costlier, with the Goods and Services Tax (GST) Council on 14th March 2020 deciding to increase the rate on mobile phones and specific parts to 18% from the current 12%, from April 1. The decision was taken not to increase the prices […]
INDIA’S CURRENT ACCOUNT DEFICIT EASES TO 0.2% OF GDP
Focus: GS-III Indian Economy, Economic Development, Prelims Why in news? India’s current account deficit almost got wiped out in the December quarter standing at just $1.4 billion due to lower trade deficit and a rise in net services receipts, according to data released by Reserve Bank of India on 12th March 2020. Details Private transfer […]
WORLD STOCKS PLUNGE INTO BEAR MARKET, OIL SLUMPS – CONSUMERS TO GAIN FROM CHEAP OIL?
Focus: GS-III Indian Economy, Industry and Infrastructure, Prelims Why in news? Global stocks plunged into a bear market and oil slumped further on 12th March 2020, after stimulus efforts from the European Central Bank failed to calm investors alarmed by U.S. moves overnight to restrict travel from Europe over the spread of COVID-19. The price […]
RBI OPENS DOLLAR-SWAP WINDOW
Focus: GS-III Indian Economy Why in news? The Reserve Bank of India (RBI) has opened a six-month dollar sell-buy swap window to pump liquidity in the foreign exchange market — the first move following financial markets in India and across the globe experiencing turbulence over the spread of COVID-19, which could lead to a slowdown […]
PESTICIDE SECTOR HIT BY INPUT ISSUES
Focus: GS-III Indian Economy Why in news? The Indian pesticide industry is heavily dependent on Chinese imports for raw materials, and could be heavily impacted by the COVID-19 outbreak, according to an analysis prepared by the Agriculture Ministry. The Ministry estimates that domestic inventories may be sufficient for the kharif sowing season, but any further […]
SHARED ECONOMY AT $2 BILLION BY END-2020
Focus: GS-III Indian Economy Why in news? The shared economy in India is estimated to be an about $2 billion industry by the end of the current 2020 year, according to a recent report by Maple Capital Advisors. What is Shared Economy? The sharing economy is a way of distributing goods and services that differs […]
COVID-19 OUTBREAK COULD HELP AGRI EXPORTS
Focus: GS-III Indian Economy, Agriculture Why in news? In the wake of the COVID-19 outbreak, the Centre has identified 21 agricultural products, including honey, potatoes, grapes, soya beans and groundnuts, in which Indian exports could benefit from trade restrictions against Chinese goods. Analysis of the impact of COVID-19 outbreak on India’s agricultural trade report prepared […]
WORST SINGLE DAY FALL FOR SENSEX
Focus: GS-III Indian Economy Why in news? The Sensex on 9th March 2020 witnessed its worst fall since demonetisation in 2016 as the sell-off in stocks continues unabated. The Nifty hit a one-year low. 5 factors causing this crash Oil price crash Crude oil prices tanked over 30 per cent following Saudi Arabia’s decision to […]
GLOBAL CRUDE OIL WAR BRINGS GOOD TIDINGS FOR INDIA
Focus: GS-III Indian Economy Why in news? Major oil buyers such as India are set to gain following Russia’s refusal to back broader cuts in crude oil production by the Organization of the Petroleum Exporting Countries (Opec). Details Crude prices are on a tailspin after Russia did not agree to Opec’s proposal for an additional […]