Current Account Deficit: According to a recent report by British brokerage Barclays, India’s trade deficit has been jumping continuously since July 2021. The widening Current Account Deficit (CAD) is driven by the massive spike in commodity prices led by crude oil. The CAD is expected to reach $45 billion or 1.4% of GDP by March […]
Category: Economics Current Affairs
RBI’s Retail Direct Scheme
RBI’s Retail Direct Scheme: The Prime Minister has launched the Reserve Bank of India (RBI)- Retail Direct Scheme to open up the Government bond market for the retail investors. In February 2021, RBI proposed to allow retail investors to open gilt accounts with the central bank to invest in Government securities (G-secs) directly. Under the […]
Tenures Of CBI & ED Directors Extended
Tenures Of CBI & ED Directors Extended: The President promulgated two ordinances that would allow the Centre to extend the tenures of the directors of the Central Bureau of Investigation and the Enforcement Directorate from two years to up to five years. The Delhi Special Police Establishment (DSPE) Act,1946 and the Central Vigilance Commission (CVC) […]
H-1B Visa Holders
H-1B Visa Holders: The United States has agreed to provide automatic work authorisation permits to the spouses of H-1B visa holders — a move that is likely to benefit thousands of Indian professionals based in the US. As per the latest amendments, while L-1 spouses will be given the extension without applying for it, H-4 […]
Services Export Target
Services Export Target: Minister of Commerce and Industry Piyush Goyal said that India is poised to achieve a services export target of one trillion dollars by 2030. He was addressing the Global Services Conclave-2021 in New Delhi. The Minister said that in 2020, India became the 7th largest services exporter in the world, moving up […]
Reservation Norms For Mandatory Use Of Jute
Reservation Norms For Mandatory Use Of Jute: The Cabinet Committee on Economic Affairs has approved reservation norms for mandatory use of jute in packaging for the Jute Year 2021 -22 (1st July, 2021 to 30th June, 2022) on 10th November, 2021. The Mandatory packaging norms approved for Jute Year 2021-22 provide for 100% reservation of […]
CharDham Project
CharDham Project: The Supreme Court (SC) has spoken of the need to balance national security concerns with environmental issues in the context of the Army’s request to expand the CharDham Project (CDP) roads leading to the Indo-China border. The request came in the context of construction being carried out by China across the border. However, […]
Logistics Ease Across Different States (LEADS) Report (Index) 2021
Logistics Ease Across Different States (LEADS) Report (Index) 2021: The Ministry of Commerce and Industry has released the Logistics Ease Across Different States (LEADS) Report (Index) 2021. The LEADS report is aimed at gauging the logistics performance of states and Union Territories (UT) and identifying areas where they can improve logistics performance. It was launched […]
What is Freedom Of Air?
Freedom Of Air: India has launched a direct flight between Srinagar and Sharjah (UAE) operated by budget airline GoFirst (formerly known as GoAir). The flight was to operate through Pakistani airspace. However, the flight was denied permission to enter Pakistan and the flight had to take a longer route to reach the destination. This has […]
Legal Metrology (Packaged Commodities), Rules 2011
Legal Metrology (Packaged Commodities), Rules 2011: To safeguard interest of consumers, the Department of Consumer Affairs under Ministry of Consumer Affairs, Food and Public Distribution has omitted the Rule 5 of the Legal Metrology (Packaged Commodities), Rules 2011 defining the Schedule II prescribing the pack sizes of various types of commodities. A new provision has […]
