Current Affair Category: Indian Economy

Private Final Consumption Expenditure (PFCE) refers to the spending by households and non-profit institutions serving households (NPISHs) on goods and services. It’s a crucial component in calculating a country’s Gross Domestic Product (GDP). PFCE: Households: This includes spending by individuals and families on things like food, clothing, housing, transportation, entertainment, and healthcare. Non-Profit Institutions Serving […]

Why in news? The term bank run was in news recently. What is Bank run?A bank run happens when a large number of depositors withdraw their money from a bank at the same time because they fear the bank is going bust (failing). It’s a self-fulfilling prophecy in a way, as the mass withdrawal can […]

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. […]