Merchant Discount Rate Subject: Economy Section: Monetary policy Context: In a discussion paper released on Wednesday, the Reserve Bank of India (RBI) asked stakeholders if merchant discount rate (MDR)should be brought back for Unified Payments Interface (UPI) transactions. Concept: Merchant Discount Rate: MDR is the cost paid by a merchant to a bank […]
Annual Survey of Industries (ASI) Subject: Economy Section: National Income Context: The final results of the Annual Survey of Industries (ASI) released by the Ministry of Statistics and Programme Implementation (MoSPI). Details: The number of factories in the country increased by 1.7 per cent year-on-year to 2.46 lakh in FY20, employing a total […]
India at 75 | High points in science & technology and innovation Subject: Economy Section: Monetary Policy Context: The Council of Scientific and Industrial Research, which had been founded in 1942, has undertaken its mission effectively since Independence The CSIR started five of its own laboratories with support from the government and industry […]
Central Pool foodgrain stocks at lowest in 5 years Subject: Economy Section: Monetary Policy Context: Rice and wheat stock in the Central Pool, managed by the Food Corporation of India (FCI), is at a five-year low, mainly due to lower procurement of wheat. Rice stock, though above 2020 level, may deplete fast in […]
SC to examine convict’s plea on validity of child gangrape law Subject: Economy Section: Monetary Policy Context: The Supreme Court on Tuesday agreed to examine the validity of a law which sends a guilty man either to a lifetime in prison or to the gallows for gangraping a child under 12 years without […]
DoT bats for auction of satellite spectrum Subject: Economy Section: Monetary Policy Context: The Department of Telecommunications (DoT) is batting decisively for the auction of satellite spectrum. After nearly two years of intense lobbying from satellite players, including Low Earth Orbit (LEO) players such as OneWeb, Telesat and Starlink — who were seeking […]
Super Vasuki Subject: Economy Section: Infrastructure Context:To mark the beginning of Amrit Kaal, Indian Railways ran Super Vasuki, five loaded train long haul on 15th Aug 2022 as a part of Azadi Ka Amrit Mahotsav Celebration. Concept: Super Vasuki is a 3.5-km-long freight train with 295 wagons carrying 27,000 tonnes. The effort came […]
Decentralised Finance (DeFi) Subject: Economy Section: Monetary Policy Context :With the massive rise in cryptocurrency investments, individuals and institutions are now beginning to explore decentralized finance (DeFi). Concept : Decentralized finance, or DeFi, loosely describes an alternative finance ecosystem where consumers transfer, trade, borrow and lend cryptocurrency, theoretically independently of traditional financial institutions […]
Corporate Tax Subject :Economy Section: Fiscal Policy Context: Corporate tax cut has led to a revenue loss of ₹1.84 lakh crore to the public exchequer as per the Parliamentary Estimates Committee report. Details: The Taxation Laws (Amendment) Bill, 2019 caused a reduction in the base corporate tax rate, that is, from 30 percent […]