Current Affair Category: Indian Economy

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 […]

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 […]