In News Recently, the Reserve Bank of India released its latest Financial Stability Report (or FSR). About FSR FSR is Published twice each year and is one of the most crucial documents on the Indian economy. It reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to […]
In News For India, a completely new journey commenced on July 1, 2017, with goods and services tax, being touted as one of the biggest economic reforms of independent India. Goods and Service Tax (GST) Goods and Services Tax is an indirect tax used in India on the supply of goods and services. It is […]
In News The Indian economy is completing the first quarter of the current financial year — April, May and June. Two questions come up in this context: How far did the second Covid wave hurt India’s fledgling economic recovery? What are the more medium- to long-term impacts of the second Covid wave? About The […]
In News El Salvador would be the first country in the world to adopt Bitcoin as legal tender. Legal Tender It is defined as: coins or banknotes that must be accepted if offered in payment of a debt. A legal tender is guaranteed by the central government and all parties are legally bound to accept […]
In News Recently, the Goods and Services Tax (GST) Council has met after a gap of seven months due to the budget session and assembly elections. The GST Council met for the first time in the financial year 2021-22 and the last meeting was held in October 2020. Major Decisions Exemptions on Covid-related Supplies It […]
In News Recently, the Reserve Bank of India (RBI) has released its annual report for 2020-21. Key Highlights Impact of Covid-19 Waves While the economy has not moderated to the extent during the first wave of Covid-19, the surrounding uncertainties can act as a deterrent in the immediate period. The onset of the second wave […]
In News Recently, the Ministry of Commerce and Industry has highlighted the growth of the Foreign Direct Investment (FDI) flows into India. Key Highlights FDI grew 10 per cent in 2020-21 and touched a record USD 81.72 billion. In 2019-20, India had received USD 74.39 billion in FDI. FDI equity inflows rose 19 per cent […]
In News The government released the First Advance Estimates (FAE) at the start of January 2021 and the Second Advance Estimates (SAE) in February 2021, which showed the impact of Covid-19 on the finances of the Centre and the States in 2020. Key Highlights First Advance Estimates The Gross Domestic Product (GDP) would contract by […]
In News Recently, the National Institution for Transforming India (NITI Aayog) and Mastercard have released a report titled ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’. About the Report It is based on five roundtable discussions which were held in October and November 2020. It highlighted key issues and opportunities on policy and […]
In News According to a recent survey, the Purchasing Managers’ Index (PMI) results for April 2021 showed a slowdown in rates of growth for new orders and output, both of which eased to eight-month lows amid the intensification of the Covid-19 crisis. Major Highlights The seasonally adjusted India Manufacturing PMI was at 55.5 in April, […]
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