Current Affair Category: Indian Economy

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 […]

India’s Department of Telecommunications (DoT) released draft rules for the Digital Bharat Nidhi (DBN) on July 4. The goal is to improve and expand efforts to connect people to the Internet, especially in rural, remote, and poor urban areas. This plan changes the current Universal Service Obligation Fund (USOF) by moving money to help make […]

Why in News? It is an economic model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products for as long as possible. This in turn extends the life cycle of the product. Circular economy is an economic system that is based on expanding the life cycle of […]

Why in News ? The Reserve Bank of India (RBI), along with the Bank for International Settlements (BIS) and central banks of four ASEAN countries, is collaborating on Project Nexus, a multilateral initiative aimed at enabling efficient, faster, and cost-effective retail cross-border payments.  About it : Nexus is a BIS Innovation Hub project that seeks […]

India’s worsening water shortage crisis can adversely impact the nation’s credit health while sparking social unrest and exacerbating the volatility in its economic growth, rating agency Moody’s Ratings said in a report recently. In addition, coal power generators and steel makers are most vulnerable to water stress, Moody’s said. Decreases in water supply can disrupt agricultural production and […]

The World Investment Report 2024, published by UNCTAD, provides a comprehensive analysis of global and regional foreign direct investment (FDI) trends and their implications for sustainable development. Key highlights: Global FDI Trends: Global FDI flows declined by 2% in 2023, reaching $1.3 trillion. This downturn is attributed to ongoing global crises, trade tensions, and tighter […]

Why in News? Amid a sharp decline in funding for startups and consequent job losses, Indian Inc has sought the removal of Angel Tax that has been a subject of heated debate between the industry and the government ever since the scope of the controversial tax was expanded in the Finance Bill 2023. What is Angel  Tax? Angel tax […]

Why in News? The National Financial Reporting Authority (NFRA) will wrap up its first annual inspection of eight audit firms – including the Big Five. About NFRA : The National Financial Reporting Authority (NFRA) is a crucial regulatory body established under the Companies Act, 2013, in India. Objectives: Enhance the Quality of Corporate Financial Reporting: The NFRA strives to ensure […]

The National Curriculum Framework (NCF) in India is a crucial document that guides the development of school curriculums across the country. It’s closely linked to the National Education Policy (NEP) 2020. Objectives: Transforming Education: The NCF aims to translate the vision of NEP 2020 into actionable steps for school education. It outlines the desired learning […]