Current Affair Category: Indian Economy

Why in news? Finance Minister Nirmala Sitharaman introduced significant revisions to capital gains taxation, focusing particularly on real estate transactions in the Union Budget 2024. The budget eliminated the indexation benefit, which previously enabled property owners to adjust their purchase price for inflation, thereby reducing taxable profits. About  Indexed Purchase Price: Indexed purchase price is […]

Why in news ? Finance Minister Nirmala Sitharaman in her budget speech 2024-2025 announced the launch of a new pension scheme ‘Vatsalya’ for children (NPS Vatsalya Plan). This scheme is a form of the National Pension System (NPS), which has been specially designed for the youth. Keeping in mind the future of the children, Sitharaman, […]

Headline inflation is the overall rate of inflation in an economy, including the prices of all goods and services. It’s calculated using the Consumer Price Index (CPI), which measures the average change in prices over time of a fixed basket of goods and services consumed by households. Other Types of Inflation Core Inflation: This excludes […]

PM Modi, who was in city on Saturday for the groundbreaking of infrastructure works worth Rs 29,400 crore, said that in the last 3-4 years, around eight crore new jobs have been generated in India and this has silenced those making a false narrative about the country’s situation. This was the PM’s first visit to Mumbai after […]

Why in News ? The informal sector — small and medium enterprises and household proprietary and partnership establishments — accounts for almost half of India’s economic output and more than three-fourths of employment. But the sector faces challenges — over the last seven years, many units have shut and about 16.45 lakh jobs have been […]

Foreign Currency Assets (FCA) are assets held by a country’s central bank in foreign currencies. These assets are part of the foreign exchange reserves and are used to support the country’s monetary policy and ensure financial stability. The Reserve Bank of India (RBI), for example, maintains foreign currency assets as part of India’s foreign exchange […]

The number of workers employed in the informal sector in 2022-23 has dropped by 16.45 lakh or about 1.5 per cent to 10.96 crore compared to 11.13 crore in 2015-16, according to the latest Annual Survey of Unincorporated Enterprises (ASUSE) for 2021-22 and 2022-23 released by the Ministry of Statistics and Programme Implementation (MoSPI). The […]

The World Bank upgraded Russia from an “upper-middle income” country to a “high-income” one, a status it last had in 2014. The ranking was boosted by growth in trade (+6.8%), the financial sector (+8.7%), and construction (+6.6%), which led to increases in both the real (3.6%) and nominal (10.9%) GDP. The improvement, however, is on […]

The Atlas conversion factor is a method used by the World Bank to convert a country’s gross national income (GNI) from local currency into U.S. dollars. This method is designed to reduce the impact of fluctuations in exchange rates. The Atlas method smooths out exchange rate fluctuations by using a three-year average exchange rate, adjusted […]

What is Public Debt? Public debt, also referred to as government debt or national debt, is the total amount of money a government owes to its creditors. It’s essentially money borrowed by the government to cover spending that exceeds its income (tax revenue and other income sources). Concept: The government borrows money by issuing bonds […]