Blockchain Infrastructure Subject: Economy Context: We need resilient digital platforms, which may be based on the Web 3.0 architecture. Web 3.0 The concept of Web3, also called Web 3.0, used to describe a potential next phase of the internet World Wide Web, which is also known as a Web, is a collection of […]
Windfall tax Subject: Economy Why in the news? In line with the moderation in global crude prices and drop in refining margins, Centre undertook the third review of its recently imposed levies on fuel and cut the tax levy on domestic crude oil production. Details: This is the third review undertaken by the […]
SEBI new rules–AIF and VCF Subject: Economy Why in the news? SEBI eases norms on alternate investment funds (AIFs) and venture capital funds (VCFs) investments in overseas firms Details: Earlier, it was mandated that AIFs and VCFs raising funds in India should invest in only those companies globally that have connection to India […]
Electricity Sector Subject: Economy Power System Operation Corporation Ltd (POSOCO) has asked three power exchanges — IEX, PXIL and HPX — to restrict electricity trading by 27 discoms in 13 states having outstanding dues as per the information available on the PRAAPTI portal. Details: The action appears to be taken under the Electricity […]
Liquidity Adjustment Facility Subject: Economy Why in the news? The Reserve Bank of India increased the repo rate to 5.40 per cent under the liquidity adjustment facility (LAF) Details: Repo rate, which is the rate at which the RBI lends money to commercial banks, is now higher than the pre-Covid level of 5.15 […]
Inflation target breach Subject: Economy Why in the news? CPI-based inflation is expected to remain above the 6 per cent upper limit in the July-September quarter too. Details: The average retail inflation in January-March 2022 and April-June 2022, according to data released by the National Statistics Office, was 6.34 per cent and 7.28 […]
Credit Deposit Ratio Subject: Economy Section: Monetary policy Context: Banks need to rework their strategies rising from the ‘business as usual approach’ given the rising cost of borrowing due to hike in the repo rate. Impact of Rising cost of borrowings: Emerging resource imbalance: Declining credit deposit ratio–Deposit growth isat 9.8 percent while […]
Developed country Subject: Economy Section: National Income Context: The ‘developed country’ goal is the first of the five vows that Prime Minister Narendra Modi exhorted Indians to take during his address to the nation on Independence Day. The “Panch Pran” — five vows? Every Indian should focus on developing the country; 100 per […]