Current Affair Category: Indian Economy

Why in news? Gold has long been a preferred choice for parking wealth in India, long before stocks, mutual funds and other financial instruments became part of the broader mix of investment options. The metal is seen as a safe haven asset, providing a hedge against inflation or any kind of financial uncertainties. Apart from physically buying […]

Why in news? Recently Taiwan has demanded its “on-market economy” classification to “market economy” to avoid high taxes imposed by the United States on the goods imported from the Southeast Asian  country. What is a Market Economy? A market economy is a system in which production decisions and the prices of goods and services are […]

The Cross-Border Interbank Payments System (CIPS) is a Chinese payment system launched in 2015 by the People’s Bank of China (PBOC). Here’s a breakdown of CIPS: Purpose: Facilitate cross-border transactions in Renminbi (RMB), China’s currency. This aims to internationalize the use of RMB and reduce reliance on other currencies like USD. Services: Provides clearing and […]

The International Monetary Fund (IMF) is an international organization with a mission to promote global economic stability and prosperity for its 190 member countries. The Role of the IMF: Promoting Stability: The IMF works to ensure a stable global financial system by monitoring economic and financial developments in its member countries. It identifies potential problems […]

Why in news? India’s fast-moving consumer goods (FMCG) sector witnessed growth in rural consumption in volume terms outpace urban consumption for the first time in five quarters, in the January-March period 2024. According to a report from consumer intelligence firm NIQ, rural consumption grew at a rate of 7.6 per cent year-on-year (Y-o-Y) in Q1CY24, […]

Why in News?  The Goods and Services Tax (GST) collections as a percentage of Gross Domestic Product (GDP) have reached pre-GST levels. The FM said that it is a myth that all GST collections are “pocketed by the Centre”, adding that GST contributes significantly to state revenues. The statement by Sitharaman came on the day […]

Why in News?  The India Employment Report 2024 was  brought out by the Institute for Human Development (IHD) and the International Labour Organisation (ILO). The unemployment rate rises with a rise in education levels ,There is  28 per cent unemployment rate among graduates and above (the proportion of women being higher). What the report says? […]

Why in News ? The certain technology companies are using ‘standard essential patents’ (SEP) against the telecom manufacturing sector in India. What are Standard Essential Patents (SEPs)? • A standard essential patent is a patent that protects technology that is essential to implementing a standard. • A standard is an agreed or established technical description. […]

Why in News? The  US Fed has recently reduced the interest rate to tackle the inflation and boost economic growth.  About  US Fed: Like other central banks such as the RBI, as the US Fed conducts monetary policy, it influences employment and inflation primarily by using policy tools to control the availability and cost of […]

Why in News? The Securities and Exchange Board of India (Sebi) recently allowed non-resident Indians (NRIs) to own up to 100 per cent in global funds at the GIFT City and gave passive funds more exposure to group companies. Currently, NRIs and Overseas Citizens of India (OCIs) cannot own more than 50 per cent in […]