Category: Economics Current Affairs

Global Minimum Corporate Tax Rate: The US Treasury Secretary has urged G20 nations to move towards a global minimum corporate tax. It is an attempt to reverse a “30-year race to the bottom” in which countries have resorted to slashing corporate tax rates to attract multinational corporations (MNCs). Proposal on a Global Minimum Corporate Tax […]

Begging: The Supreme Court has asked the Centre and four States to file their response within three weeks on a plea seeking a direction to repeal the provisions criminalizing begging. The plea has referred to the August 2018 verdict of the Delhi High Court which had decriminalised begging in the national capital and said provisions […]

Freedom Of Navigation Operation (FONOP) In The Indian EEZ: India has protested the U.S. decision to conduct a patrol in the Indian Exclusive Economic Zone (EEZ) in the western Indian Ocean, rejecting the U.S.’s claim that its domestic maritime law was in violation of international law. In a rare and unusual public statement, the U.S. […]

The Supreme Court: People Are Free To Choose Their Religion: The Supreme Court said that people are free to choose their religion, even as it lashed out at a petition claiming there is mass religious conversion happening “by hook or by crook” across the country. The supreme court said that people have a right under […]

Monetary Policy: Short Term Lending Rate Or The Repo Rate Unchanged: The Reserve Bank of India’s Monetary Policy Committee (MPC) has decided to keep its short-term lending rate or the repo rate unchanged at 4 percent, in line with market expectations. Announcing the monetary policy, RBI Governor said the central bank will maintain its ‘accommodative […]

Government Security Acquisition Programme (G-SAP) 1.0: The Reserve Bank of India (RBI) has put in place a secondary market Government Security Acquisition Programme (G-SAP) 1.0 for orderly evolution of the yield curve in FY22. Under the programme, the central bank will purchase government bonds of worth Rs 1 trillion (or one lakh crores of rupees). […]

Indian Energy Exchange (IEX): The electricity market at Indian Energy Exchange (IEX) achieved an all-time high volume of 8,248.52 MU (million units) in the month of March 2021 surpassing all the previous milestones. It is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable […]

New Digital Currency: China: China in February launched the latest round of pilot trials of its new digital currency, with reported plans of a major roll-out by the end of the year and ahead of the Winter Olympics in Beijing in February 2022. Officially titled the Digital Currency Electronic Payment (DCEP), the digital RMB (or […]

Harmonized System of Nomenclature Code: It has been made mandatory for a GST taxpayer having a turnover of more than Rs 5 crore in the preceding financial year, to furnish 6 digits HSN Code (Harmonized System of Nomenclature Code). This comes into effect from April 1. Harmonised System, or simply ‘HS’: It is a six-digit […]