RBI, Maldives Monetary Authority Pact to Enhance Trade with Local Currencies: The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have signed a Memorandum of Understanding (MoU) to establish a framework for promoting the use of local currencies—the Indian Rupee (INR) and Maldivian Rufiyaa (MVR)—in cross-border transactions. Signed by RBI Governor Shaktikanta […]
Category: Economics Current Affairs
India’s Trade Deficit
India’s Trade Deficit: According to some economists, India’s trade deficit is not a sign of weak manufacturing but reflects India’s strength in services and attractiveness as an investment destination. A trade deficit occurs when a country imports more goods and services than it exports. It represents the amount by which the value of imports […]
Central Value Added Tax (CENVAT) Credit
Central Value Added Tax (CENVAT) Credit: The Supreme Court, in a landmark judgment, has allowed telecom companies to claim Central Value Added Tax (CENVAT) credit for the installation of mobile towers and prefabricated buildings (PFBs). Central Value Added Tax (CENVAT) is tax credit system allowing manufacturers or service providers to claim a set-off on excise […]
Inflation surged in October 2024
Inflation surged in October 2024: The Ministry of Statistics & Programme Implementation (MoSPI) recently reported that the Consumer Price Index (CPI) or the retail inflation surged to 6.2% in October 2024 and the Food inflation, as per the Consumer Food Price Index (CFPI), rose to 10.87%.This marks the highest inflation rate since August 2023, surpassing […]
India’s Unemployment Rate Drops to 6.4% in July-September 2024 Quarter
India’s Unemployment Rate Drops to 6.4% in July-September 2024 Quarter: In the July-September 2024 quarter, India’s urban unemployment rate decreased to 6.4%, marking the lowest level observed in recent years. The rate has dropped from 6.6% in the previous quarter and remains consistent with the rate recorded in the same period last year. This improvement […]
SBI marked the centenary of its iconic Horniman Circle Branch
SBI marked the centenary of its iconic Horniman Circle Branch: The State Bank of India (SBI) celebrated the centenary of its iconic Horniman Circle Branch with the unveiling of a specially minted ₹100 commemorative coin by Finance Minister Nirmala Sitharaman. The event also featured the release of the 5th edition of The Evolution of the […]
Tata Power has entered into a strategic partnership with Druk Green Power Corporation Ltd
Tata Power has entered into a strategic partnership with Druk Green Power Corporation Ltd: Tata Power has entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC) to develop at least 5,000 MW of clean energy generation capacity in Bhutan. This collaboration aims to harness Bhutan’s vast hydropower potential and contribute to the […]
External Affairs Minister Inaugurates Symbiosis Dubai Campus
External Affairs Minister Inaugurates Symbiosis Dubai Campus: On the occasion of the inauguration of Symbiosis International University’s first international campus at Dubai Knowledge Park, External Affairs Minister Dr. S. Jaishankar and UAE Minister Sheikh Nahyan bin Mubarak Al Nahyan highlighted the significance of the event for both nations, particularly in terms of education and bilateral […]
Why Bharat Matters EAM Jaishankar’s New Book Launched in Dubai
Why Bharat Matters’ EAM Jaishankar’s New Book Launched in Dubai: External Affairs Minister Dr. S. Jaishankar launched his new book, Why Bharat Matters, at the Mohammed Bin Rashid Library in Dubai, UAE. The event, held on 14th November, allowed Dr. Jaishankar to provide insights into the themes of his book, focusing on India’s evolving role […]
General Provident Fund
General Provident Fund : In News A division bench of the Madras High Court recently upheld the Central Administrative Tribunal’s orders granting pension rights under the General Provident Fund (GPF) scheme to retired Kendriya Vidyalaya teachers. General Provident Fund (GPF) is a savings scheme introduced in 1960 that is available only for government employees in […]
