Rupee hits a new low on worries over hike in US interest rates Subject: Economy Section: External sector The rupee hit a fresh record low of 78.38 against the dollar on Wednesday amidst growing concerns over global growth prospects. The weak global cues also hit benchmark equity indices as it closed over one […]
GST Tax Rates Subject: Economy Section: Fiscal policy The introduction of a uniform GST was a watershed moment in India since the country’s earlier regime of taxes and cesses, both at the Centre and the States, was a big barrier to free trade and economic growth and was a cesspool of corruption. While […]
Worldwide oil-refining crunch Subject: Economy Section: Msc Context: Prices were already elevated before Russia invaded Ukraine on Feb. 24. But since mid-March, fuel costs have surged while crude prices are up only modestly. Much of the reason is a lack of adequate refining capacity to process crude into gasoline and diesel to meet […]
RBI puts a stop to credit lines on non-bank prepaid instruments Subject: Economy Section: Monetary Park Context: The Reserve Bank of India (RBI) has issued a notification disallowing non-bank prepaid wallets and prepaid cards from loading credit lines What are prepaid payment instruments (PPIs)? It is a payment instruments that facilitate the buying […]
India’s emerging twin deficit problem Subject: Economy Section: Fiscal policy Context: The World is looking at a distinct possibility of widespread stagflation. India, however, is at low risk of stagflation, owing to its prudent stabilization policies, a report by Finance Ministry. But, given the uncertainties, the report highlights two key areas of concern […]
Registration norms may be relaxed for small e-commerce businesses Subject: Economy The GST Council in its meeting next week is also likely to consider a proposal to relax compulsory registration norms for small businesses, which use any e-commerce platforms to sell their products. Such a move, once implemented, will help small businesses in […]