Capital expenditure Subject :Economy Section :Fiscal Policy The Centre has raised the capital expenditure target by 35.4% on year to Rs 7.5 trillion for FY23 to continue the public investment-led economic recovery of the pandemic-battered economy. The capex last year was Rs 5.5 trillion. Details: To keep the momentum of government spending, the […]
WTO and Fisheries Subject :Economy Section :External sector India will endorse a proposal at the World Trade Organization (WTO) on fishery subsidies if the agreement is equitable and does not tie the member-countries to a disadvantageous position in perpetuity, official sources said on Wednesday. Demands: India favours a 25-year exemption from over-fishing subsidy […]
Gold pricing Subject: Economy Section: Inflation Gold prices are not moving up even as inflation is raging globally. Traditionally, gold is considered to be the best bet against inflation. However, in the current scenario gold prices seem to be moving in a tight range even though inflation is making waves globally. Cause? Tighter […]
Bharat Bill Payment System (BBPS) Subject: Economy Section: Monetary Policy The Reserve Bank of India (RBI) has reduced the minimum net worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) from ₹100 crore to ₹25 crore. Aim: Facilitate more bill payments through Bharat Bill Payment System (BBPS) Encourage participation of non-bank Bharat Bill […]
Sugar Export ban Subject: Economy Section: Agriculture The Centre on Tuesday announced that sugar (raw, refined and white sugar) exports from June 1 would be allowed only through permits and fixed a maximum quantity of 10 mt for this season (October-September). Details: The notification issued by the Directorate General of Foreign Trade has […]
Late payment surcharge Subject: Economy Section: Energy Context: The government is working on a scheme to liquidate the past dues of Discoms. Outstanding dues: According to data available on the PRAAPTI portal, as on May 18, 2022, the Discoms’ overdues (excluding disputed amounts and Late Payment Surcharge (LPSC)) stood at ₹1,00,018 crore and […]
Engineering Exports Promotion Council Subject: Economy Section: External sector Context: EEPC India is the trade and investment promotion organization for the engineering sector sponsored by the Ministry of Commerce & Industry. Set up in 1955, EEPC India now has a membership base of over 12,000 out of whom 60% are SMEs. As an […]
External Commercial Borrowing Subject: Economy Section: External sector Context: The rise in global interest rates and the depreciation of the rupee is likely to reduce the appetite of India Inc to mobilise funds through external commercial borrowings (ECBs) in the coming months. ECBs play an important role in India by supplementing the funding needs […]
Trade off between unemployment and inflation Subject : Economy Section :Inflation Context Typically, when an economy goes through a phase of high inflation, chances are that the unemployment rate will fall. That’s because firms, enticed by higher prices, try to ramp up production by recruiting more people. Which is worse? According to a […]