India Recorded Highest Ever Annual FDI Inflow : FY 2021-22 India has recorded highest ever annual FDI inflow of USD 83.57 billion in the Financial Year 2021-22. In terms of top investor countries of FDI Equity inflow, ‘Singapore’ is at the apex with 27%, followed by U.S.A (18%) and Mauritius (16%) for the FY 2021-22. […]
Category: Economics Current Affairs
New Development Bank (NDB) New Regional Office
New Development Bank (NDB) New Regional Office: New Development Bank (NDB) is setting up a regional office in Gujarat, India for funding and monitoring infrastructure projects in that country and Bangladesh. NDB is a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa). It was agreed to by BRICS […]
World Economic Situation And Prospects (WESP) Report
World Economic Situation And Prospects (WESP) Report: According to the World Economic Situation and Prospects (WESP) report that was released by the United Nations on 18th May 2022, the global economy this year is expected to grow by only 3.1 per cent. The earlier prediction in January was 4.0 per cent but the rate was […]
Is Recommendation of GST Council Binding?
GST Council’s Proposals: The Supreme Court, in a judgment championing the importance of “cooperative federalism”, held that Union and State legislatures have “equal, simultaneous and unique powers” to make laws on Goods and Services Tax (GST) and the recommendations of the GST Council are not binding on them. The apex court’s decision came while confirming […]
Gifted Child Category : Qualifying Criteria By AICTE
Gifted Child Category : Qualifying Criteria By AICTE Last month, the All India Council for Technical Education (AICTE) stated that it will allow institutions to set aside two more seats under the “gifted child” category. The criteria: A prizewinner of at least one national/international level competition organised by a government or a recognised private body. […]
Multi Agency Centre (MAC)
Multi Agency Centre (MAC): The Intelligence Bureau (IB) has been granted 138.48 crore by the Ministry of Home Affairs (MHA) for a “technology upgrade” of the Multi Agency Centre (MAC). It is a common counter-terrorism grid under the Intelligence Bureau that was made operational in 2001 following the Kargil War. As many as 28 organisations, […]
India’s Forex Reserves Have Dropped Below $600 Billion
India’s Forex Reserves Have Dropped Below $600 Billion: India’s forex reserves have dropped below $600 billion, plunging by about $45 billion since September 3, 2021, when forex reserves stood at an all-time high of $642 billion. Reasons behind drop in India’s forex reserves: The drop is because of a fall in the dollar value of […]
Remittance Expected To Increase By 4.2 Percent In 2022
Remittance Expected To Increase By 4.2 Percent In 2022: Officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2 percent in 2022 to reach $630 billion. This follows an almost record recovery of 8.6 percent in 2021, according to the World Bank’s latest Migration and Development Brief released today. […]
Central African Republic (CAR) Became The Second Country To Adopt Bitcoin
Central African Republic (CAR) Became The Second Country To Adopt Bitcoin: The Central African Republic (CAR) became the second country after El Salvador to adopt Bitcoin as legal tender. The Union Budget 2022-2023 of India has also proposed to introduce a digital currency in the coming financial year. It was also announced that “any income […]
Foreign Exchange Reserves : RBI Added 16.58 Tonnes Of Gold
Foreign Exchange Reserves: The Reserve Bank of India (RBI) added another 16.58 tonnes of gold to the country’s foreign exchange reserves in the last six months, bringing the country’s gold holdings to more than 700 tonnes (around 760.42). Gold was acquired by the RBI at a time when Foreign Portfolio Investors (FPIs) left India, and […]
