OPEN UP E-COM SERVICES: IAMAI
Why in news? The Internet and Mobile Association of India (IAMAI) on 20th April 2020 said it had requested the government to open up e-commerce services, adding that the online vs offline debate is an ‘incorrect portrayal’ of the ground reality as lakhs of sellers from the physical markets also sold online. This follows the ‘last-minute […]
U.S. OIL PRICES FALL BELOW ZERO, GOES TO MINUS $37.63 PER BARREL
Why in news? Traders fled from the expiring May U.S. oil futures contract in a frenzy, this led to sending the contract into negative territory for the first time in history. May U.S. crude futures plunged to a depth never before seen, settling on the day at minus $37.63 a barrel. Why did this happen? […]
NO GREEN SHOOTS OF A REVIVAL IN SIGHT AS YET
Why is news? On February 28, as per its release calendar, the National Statistical Office (NSO) put out the third quarter gross domestic product (GDP) estimates, that is, for October-December 2019. Is it Economic Revival? Domestic output grew at 4.7% at constant prices (that is, net of inflation) in 2019, compared to the same period […]
MONETARY POLICY CAN’T COMBAT THE COVID-19 IMPACT
Why in news? The huge 50 basis points cut in rates by the U.S. Federal Reserve on 3rd March 2020, to lift economic sentiment hit by COVID-19 has disrupted central banking worldwide. Even as analysts debate whether a monetary policy response is the right strategy, central banks across the world are feeling the pressure to […]
BOTTOM OR MIRAGE?
Why in news? Official estimates of gross domestic product for the fiscal third quarter have pegged growth in the festival demand-filled October-November month period at 4.7%, a distinct slowdown from the revised year-earlier and preceding quarters’ 5.6% and 5.1% paces respectively. Growth of different sectors: Manufacturing, which contributes just under a fifth to gross value added (GVA), was […]