U.S. averts first-ever default with 11th-hour debt deal Subject: Economy Section: External Sector Concept : S. senators have voted to temporarily suspend the federal debt limit, averting the risk of a credit default just days before the Treasury deadline. Economists had warned that the country could face a shortage of funds to pay […]
CBDT removes Fair Market Value (FMV) hurdle to Disinvestment Subject : Economy Section: Fiscal Policy Income Tax Department has amended a rule to exempt the buyer in case shares are sold below the fair market value (FMV). Central Board of Direct Taxes (CBDT), through a notification, has amended Rule 11 UAC(4) of the […]
NPAs linked to trade credit crisis Subject: Economy Section: Monetary policy Present scenario of Non-performing assets (NPAs) in India: NPA has reduced to around 5% by end of FY22 This low level has been possible because of: Write-offs: From 2017-22 scheduled banks have written off Rs. 10 lakh crore. Multiple recovery measures by […]
IRDAI: Bima Sugam, Bima Vahaks and Bima Vistaar Subject: Economy Section: Monetary policy Insurance in India: Insurance penetration in India has increased steadily from 2.7% around 2000 to 4.2% in 2020, according to the Economic Survey 2022-23 50% of vehicles are uninsured, and the coverage of property insurance is minuscule. The MSMEs are […]
Risks to 6.5% growth goal more evenly balanced now’ Subject : Economy Section: National Income Concept : Chief Economic Advisor (CEA) expressed confidence that the risks to India’s projected GDP growth trajectory of 6.5% in 2023-24 were more evenly balanced now. Compared with a few months ago, there is momentum across sectors along […]