Current Affair Category: Indian Economy

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 […]

Why in News?  The last 10 years have seen the Indian currency fall more against the dollar than during the previous 10 years. But the rupee has strengthened in ‘real’ terms when its exchange rate with all major global currencies is taken. Between April-end 2014 and  April 2023,  the rupee has depreciated by 27.6% against […]

Why in News? In a bid to further regulate the digital lending ecosystem in India, the Reserve Bank of India (RBI) has released a draft framework to oversee aggregation of loan products by lending service providers (LSPs). it aims to ensure that the borrowers have prior information about the potential lenders in order to make […]

Why in News?  The use of inheritance tax as a tool for redistribution of wealth to address income inequality has been discussed widely. India did have an inheritance (or death) tax once. The tax, which was known as estate duty, was introduced in 1953, and was abolished in 1985 by the government of Rajiv Gandhi. […]

The Reserve Bank of India (RBI) has increased its gold purchases to enhance the diversity of its foreign exchange reserves amid fluctuations in the US dollar. The surge in the value of outstanding gold reserves accounted for more than 80% of the nearly $3-billion rise in forex reserves, which reached a record $648.5 billion as of April 5. According to an ET report, […]

Why in News?  At opening of hush money trial, prosecutor says Trump planned to ‘corrupt’ 2016 election. Donald Trump “orchestrated a criminal scheme to corrupt” the 2016 presidential election when he conspired to prevent damaging stories about his personal life from becoming public, a prosecutor told jurors  at the start of the former president’s historic […]

Shareholders of the International Monetary Fund agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday. Multiple reports from the IMF and the World Bank this week sounded the alarm about economic developments and prospects in […]

The Supreme Court has asserted in a judgment that forests in India are a national asset and a major contributor to the nation’s financial wealth. “It is the spirit of the forest that moves the earth,” a Bench headed by Justice M.M. Sundresh observed in a judgment based on an appeal filed by the State […]

Why in News? India’s outward foreign direct investment (OFDI), or overseas direct investment, declined by 39 per cent to $28.64 billion in the year ended March 2024, amid uncertain global economic conditions. In the year ended March 2023, outward FDI, which is represented by total financial commitment, stood at $46.96 billion, according to the RBI […]