RBI’s Digital Payments Index (RBI-DPI): Recent data (March 2021-22) from the Index demonstrated significant growth, indicating rapid adoption and deepening of digital payments across the country. About RBI-DPI: Launched in January 2021, it captures the extent of digitisation of payments across the country (with 2018 as a base year- score set as 100) and is […]
Category: Economics Current Affairs
Foreign Direct Investment
Foreign Direct Investment: Singapore and USA have emerged as top 2 sourcing nations in Foreign Direct Investment (FDI) equity flows into India in FY 2021-22 followed by Mauritius, Netherland and Switzerland. UNCTAD World Investment Report (WIR) 2022 has ranked India at 7th rank among the top 20 host economies for 2021, in terms of FDI. […]
Indian Startup Ecosystem
Indian Startup Ecosystem: Various reforms and initiatives by the Government have led to booming of the Indian Startup ecosystem. The term startup refers to a company in the first stages of operations. Startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand. […]
Fresh Milk And Pasteurised Milk Exempted From Goods And Service Tax (GST)
Fresh Milk And Pasteurised Milk Exempted From Goods And Service Tax (GST): The Government of India clarified that fresh milk and pasteurised milk are fully exempted from Goods and Service Tax (GST). Further, milk products like curd, lassi, butter milk and paneer are also exempted from GST if sold in forms other than those pre-packaged […]
Windfall Tax
Windfall Tax: With crude oil prices easing amid fears of a global recession, the Indian government has cut the recently imposed cesses and levies on diesel and aviation turbine fuel (ATF) and removed the cess on exports of petrol. A windfall tax is a higher tax rate on sudden big profits levied on a particular […]
Nord Stream Pipeline
Nord Stream Pipeline: Russia restored critical gas supplies to Europe through Germany via the Nord Stream pipeline after 10 days of maintenance, but uncertainty lingered over whether the Kremlin would still trigger an energy crisis on the continent this winter. Germany, which is heavily dependent on Russian gas, had feared that Moscow would not reopen […]
Euro And The U.S. Dollar Reached Parity
Euro And The U.S. Dollar Reached Parity: The Euro and the U.S. dollar reached parity, meaning one dollar could buy one euro in the foreign exchange market. Since the beginning of the year, the euro has lost about 12% against the U.S. dollar and it is expected to lose more value going forward. The price […]
Central Bank Digital Currency (CBDC)
Central Bank Digital Currency (CBDC): The Reserve Bank of India (RBI) is in the process of implementing the Central Bank Digital Currency (CBDC) in a phased manner for wholesale and retail segments, an official said. The introduction of CBDC was announced in the Union Budget 2022-23, by Finance Minister Nirmala Sitharaman and necessary amendments to […]
US Inflation Hit a Record High Of 9.1% In June 2022
US Inflation Hit a Record High Of 9.1% In June 2022: US Inflation hit a record high of 9.1% in June 2022, the highest in 40 years. US observers have argued that the US central bank will not be able to achieve a soft landing for the economy if the yield curve inverts. Start of […]
Jagriti Mascot
Jagriti Mascot: A mascot named Jagriti has been launched by the Department of Consumer Affairs (DoCA) to empower consumers and further generating awareness of their rights. It would be projected as an empowered consumer who is spreading awareness about consumer rights & addressing solutions to the problems faced by the consumers. It would help […]
