Category: Economics Current Affairs

Automobile Industry In India: The Union Minister of Commerce and Industry addressed the 62nd Automotive Component Manufacturers Association (ACMA) Annual Session. The Theme of the session was ‘Future of Mobility – Transforming to be Ahead of Opportunity’. The ACMA is the apex body representing the interest of the Indian Auto Component Industry. Its membership of […]

BLO e-Patrika: The Election Commission of India released a new digital publication ‘BLO e-Patrika’ at an interactive session held with BLOs spread across the States in India. This event was a first-of-its-kind direct interaction by the Commission with the BLOs across the country. BLOs are the direct link of the Commission with the people. BLOs […]

Windfall Tax: Government has defended the windfall tax (applicable from July 1), as a way to rein in the “phenomenal profits” made by some oil refiners who chose to export fuel to reap the benefits of skyrocketing global prices while affecting domestic supplies. Windfall tax: The United States Congressional Research Service (CRS) defines a windfall […]

India’s Retail Inflation: India’s retail inflation resurged to 7% in August from 6.71% in July, fuelled by a 7.62% uptick in food prices paid by consumers, even as industrial output growth in July dropped to the lowest level since April at just 2.4%, with output levels dropping 2.75% month on month. This is the eighth […]

Serious Frauds Investigation Office: The Serious Frauds Investigation Office (SFIO) has arrested the alleged mastermind of a widespread racket involving the setting up of shell companies with Chinese links and supply of dummy directors. SFIO was assigned by the government to investigate Jillian Consultants India Pvt Ltd and 32 other companies. SFIO is a multi-disciplinary […]

Operation ‘Gear Box’: The Directorate of Revenue Intelligence (DRI) launched operation ‘Gear Box’ to stop heroin smuggling, seizes 39.5 kg of contraband from Kolkata port. The heroin was examined and seized under provisions of the Narcotic Drugs and Psychotropic Substances Act. Operation Gear Box is conducted to detect the hidden drugs in the gear boxes. […]

Indo-Pacific Economic Framework: India stayed out of the joint declaration on the trade pillar of the U.S.-led Indo-Pacific Economic Framework ministerial meet in Los Angeles, with Union Commerce Minister Piyush Goyal citing concerns over possible discrimination against developing economies India was the only one of the 14 IPEF countries, which include South East Asian countries, […]

7th Eastern Economic Forum: Prime Minister Narendra Modi addressed the Plenary Session of 7th Eastern Economic Forum being held in Vladivostok through video conferencing. Prime Minister Narendra Modi has said that India is keen to strengthen its partnership with Russia on Arctic subjects. He said, along with energy, India has also made significant investments in […]

India’s External Debt: As per the External Debt management Unit.India’s external debt rose to US$ 620.7 bnas on March 2022 (an increase of over 8% compared to the previous year) A country’s gross external debt is the liabilities that are borrowed from outside the country and have to be paid back in the same currency. […]

RBI Guidelines For Digital Lending: RBI has tightened the norms for digital lending seeing a number of cases of fraud. Digital lending involves giving and recovering loans through web platforms or mobile apps. It facilitates speedy disbursal and helps lower the costs of lending. Guidelines: No middlemen: All loans disbursals/repayment between the holder of the […]