Forex Subject :Economy Context: Country’s forex reserves are piling up due inflows through both FDI and FPI route. Details: Due to the aggressive monetary policy tightening in the US– the US dollar strengthened and the INR depreciated leading to a sharp fall in India’s forex . India’s foreign exchange reserves rose $11.02 billion […]
Online gaming tax Subject :Economy Context: Enforcement Directorate (ED) has attached proceeds of crime of more than ₹1,000 crore in several cases related to cyber and crypto assets frauds wherein online gaming etc have been used for siphoning the proceeds. Details: Proceeds of crime have been attached/seized/freezed under the Prevention of Money Laundering […]
Old Pension Scheme vs National Pension Scheme Subject :Economy Context: There is no provision under Pension Fund Regulatory and Development Authority Act, 2013 and other relevant Regulations to return deposits under the National Pension System (NPS) back to the respective State governments. Old Pension Scheme vs National Pension Scheme: OPS – discontinued on […]
Technical Barriers to Trade (TBT) Agreement Subject :Economy Context: In the past few years, the tariff reductions have led to the rise in technical barriers to trade (TBTs) and preference trading agreements. Preferential trade agreements: In this type of agreement, two or more partners give preferential right of entry to certain products by […]
Migration and Development Report Subject :Economy Context: World Bank’s latest Migration and Development Brief titled, ‘Remittances Brave Global Headwinds’. Concept: Remittance denotes a sum of money sent by one party to another. These days, the term typically describes the money sent by someone working abroad to their family back home Highlights: World remittances […]
First urea, now DAP: High use of subsidised fertilisers raises crop yield fears Subject: Economy Context- After Urea, another fertilizer is seeing a similer phenomenon of over-application due to underpricing- Di-Ammonium Phospate (DAP). More in the news- This could have implications for soil health, ultimately affecting crop yields. The use of nitrogen (N), […]
G20’s Debt Service Suspension Initiative Subject: Economy Context: The International Monetary Fund Chief has called on China to speed up restructuring of debt in Sri Lanka and Zambia following a meeting with the leaders of the country. Details: China will implement the G20’s Debt Service Suspension Initiative (DSSI) in all respects. China has […]