Forex Reserves: According to the recent data from the Reserve Bank of India, India’s Foreign Exchange (Forex) Reserves surged by $ 5 billion to $ 609 billion in the week ended 25th June, 2021. Increase in the Foreign Currency Assets (FCA) is the major component of overall reserves. Changes in forex reserves holdings: FCA rose […]
Category: Economics Current Affairs
15th Finance Commission Report
15th Finance Commission Report: The Supreme Court directed the National Disaster Management Authority (NDMA) to frame guidelines for payment of ex-gratia compensation to family members of persons who succumbed to COVID-19, while considering the recommendations in the 15th Finance Commission Report. Key recommendations in the Report of the 15th Finance Commission for 2021-26: The share […]
Istanbul Convention On Violence Against Women
Istanbul Convention On Violence Against Women: Turkey’s controversial exit from Istanbul Convention on Violence Against Women on July 1 has received severe criticism from various quarters and has led to protests across the country. The Council of Europe established the Istanbul Convention, a human rights treaty, with the aim to prevent and prosecute all forms […]
Retail And Wholesale Trades
Retail And Wholesale Trades: Minister of MSME announced revised guidelines for MSMEs with inclusion of Retail and Wholesale trades as MSMEs. The revised guidelines will benefit 2.5 Crore Retail and Wholesale Traders. Retail and wholesale trade which were left out of the ambit of MSME are now under the revised guidelines and thus will also […]
Framework for Accredited Investors : SEBI
Accredited Investors: Market regulator Securities and Exchange Board of India (SEBI) introduced a framework for accredited investors. SEBI defines accredited investors as “a class of investors who may be considered to be well informed or well advised about investment products”. The accredited investors could be individuals, HUFs, sole proprietorships, family trusts, partnership firms, trusts and […]
Appointment of Independent Directors : SEBI
Independent Directors: The Securities and Exchange Board of India (Sebi) overhauled the norms pertaining to the appointment, removal, and remuneration of independent directors. The appointment, re-appointment, and removal of independent directors shall be through a special resolution, which requires 75 per cent votes in support instead of 51 per cent, as in the case of […]
India’s Current Account surplus of 0.9% of GDP in FY21: RBI
India’s Current Account surplus of 0.9% of GDP in FY21: RBI: As per data released by Reserve Bank of India (RBI), India has reported a current account surplus of 0.9 per cent of GDP in the Financial Year 2021 (FY21) amid the covid-19 pandemic. In 2020, it had reported current account deficit of 0.9 per […]
New Tax Deducted At Source (TDS) Rule 2021
Tax Deducted At Source (TDS): A new Tax Deducted at Source (TDS) rule is coming into effect from July 1, 2021. Under the new rules, non-filer of income tax for past two financial years will be subjected to higher taxation. TDS or TCS will be charged at double rate specified in relevant provision of Income […]
Green Freight Corridor-2
Green Freight Corridor-2: Ministry of Shipping launched the maiden voyage under Green Freight Corridor-2 on June 30, 2021. Green Freight Corridor-2 is a coastal shipping service. Voyage was launched from Cochin port to Beypore and Azhikkal ports located in north Kerala. First voyage service was launched in line with ministry’s plans to improve connectivity and […]
Not-For-Profit Hospital Model: NITI Aayog
Not-For-Profit Hospital Model: NITI Aayog: The NITI Aayog released a comprehensive study on the Not-for-Profit Hospital Model in the country. It is an initiative in a step towards closing the information gap on such institutions and facilitating robust policymaking in this area. NITI Aayog It is a public policy think tank of the Government of […]
