Hyper- Globalization Subject :Economy Context: Post-1990s era of hyper-globalization has come to an end. Details: World War-I 1914-1918 ended the first “golden age” of globalisation between 1870 and 1914, when world trade in goods surged from 9% to 16% of GDP. By the time War War-II began in September 1939, the share of […]
Govt debt rises 1% to Rs 147 lakh crore in Q2 Subject : Economy Context: The total liabilities of the government increased to Rs 147.19 lakh crore at September-end from Rs 145.72 lakh crore at the end of June this fiscal year. Details: It reflects a quarter-on-quarter increase of 1 per cent in […]
Keep an eye on slippages in rejigged assets: RBI to banks Subject : Economy Context: RBI asks banks to closely monitor slippages in restructured assets. Details: PSBs restructured around 10 lakh accounts in 2021-22 compared to 3 lakh accounts in 2020-21. The private sector lenders restructured close to 45 lakh accounts in 2021-22 […]
Rise in Direct Tax Subject: Economy Context: Direct tax growth in Covid year. Details: Telangana, Chhattisgarh, Karnataka, Rajasthan and Gujarat recorded the highest growth rate in net direct tax collections in 2021-22 as against the pre-Covid period of 2019-20. The northeaster states of Nagaland, Mizoram, and Manipur also witnessed an increase in tax […]
G-sec Subject :Economy Context: Private banks have bought bonds worth a net of 216.20 billion rupees ($2.61 billion) this month, the highest since March 2020. Cause: Rise in deposit growth-As bank balance sheets expand, more it will keep on the investment book. Higher bond yield-with expectations of (interest) rate cuts next year, and […]
Weighted average call rate Subject :Economy Context: Private banks continued to outpace public sector banks in credit growth, according to the latest RBI data. Details: The share of private banks in total credit increased to 38.4 per cent in September 2022 from 37.5 a year ago and 29.6 percent five years ago. Personal […]
World Economic League Table (WELT) Subject :Economy Context: The Centre for Economics and Business Research (CEBR)- a UK-based economics consultancy, predicted that India will rise from fifth place in the World Economic League Table (WELT) in 2022 to third by 2037. Details: Despite decelerating global demand and tightening monetary policy India is expected […]
The window for FTAs shrinks as India braces for a set of non-tariff barriers Subject :Economy Context: As India pushes the pedal on free trade agreements , non-tariff issues such as carbon emission norms, climate action, labour and gender balance standards, that comprise an increasingly substantive part of these new pacts, are weighing […]