New Convener of the Group of Ministers (GoM) on GST rate rationalisation Subject: economy Section: Fiscal Policy In News: Finance Ministry has started the process of deciding on new convener, as the post fell vacant after change of government in Karnataka. (CM Basavraj Bommai was holding the post of convener) GoM The 7 […]
Russia’s Rupee Problem Subject: economy Section: External Sector Russia has over $2 billion worth of Rupee reserves earned from India’s payments mainly for defence imports. With the Ukraine war Russia has been under sanctions, and so finds it difficult to take out the money. With none of the ways of using the Rupee […]
Govt. asks CERC to ‘couple’ power exchanges Subject : Economy Section: Infrastructure Concept : The Ministry of Power has asked the Central Electricity Regulatory Authority (CERC) to initiate the process of coupling multiple power exchanges. Central Electricity Regulatory Commission (CERC): CERC – a key regulator of the power sector in India, is a […]
Unemployment rate falls to 7.7% in May on dip in labour participation Subject :Economy Section: Employment and poverty Context: The rate in India fell to 7.7 per cent in May due to a decline in the labour participationat441.9million, according to a data released by private economic thinktank CMIE. Details: Unemployment rate in India […]
RBI surveys show rise in confidence, easing of inflation perception among consumers Subject : Economy Section: Monetary Policy Details: The latest round of consumer surveys conducted by the Reserve Bank of India (RBI) for May has shown an improvement in consumer confidence and easing of inflation expectations. The ‘current situation index’ (CSI) improved […]
Govt identifies 1.24 lakh unrepresented panchayats to set up M-PACS Subject :Economy Section: Agriculture Context: Of over 1 lakh such entities across the country are not functioning as fertilizer retailers, the Centre has decided to identify them and encourage them to retail the crop nutrients on the basis of their feasibilities. On the […]
Government considering fewer GDP estimates to avoid confusing markets Subject: Economy Section: National Income Key Points: Government is weighing a proposal to cut official annual gross domestic product estimates to four releases from six to avoid multiple revisions Multiple estimates make them confusing for market participants. Impact of the change: The time for […]
EU’s Trade Policy Review (TPR) Subject: Economy Section: External Sector What is Trade Policy Review: TPRs are an exercise, mandated in the WTO agreements, in which member countries’ trade and related policies are examined and evaluated at regular intervals. Some points: Significant developments that may have an impact on the global trading system […]