Public Borrowing Subject: Economy Section: Fiscal policy The Centre, finalised its borrowing programme for the first half of FY23, pegging the target at ₹8.45 lakh crore for this period. With this the borrowing plan for the first half of FY23 coming is at about 60 per cent of the overall borrowing target of […]
Economic sanctions and impact Subject: Economy Section: External Sector The sanctions imposed by Western countries such as the United States on Russia, following Moscow’s invasion of Kyiv, may eventually hurt the dominance of the US dollar. Concept: Economic sanctions are penalties levied against a country, its officials or private citizens, either as punishment […]
Emergency Credit Line Guarantee Scheme (ECLGS) Subject: Economy Section: Fiscal Policy Context: The government has expanded the scope of its flagship guaranteed loan scheme and extended its validity by a year through March 2023. The finance ministry has also extended relief under the Rs 5-trillion emergency credit line guarantee scheme (ECLGS) to hospitality, civil […]
The Competition Act 2002 and the Competition Commission of India Subject: Economy Section: Msc Context: India’s antitrust agency the Competition Commission of India raided offices of tyre companies, including Germany’s Continental AG and India’s Apollo Tyres and CEAT in a case of suspected competition law violations. Concept: The Competition Act, 2002 It was […]
Small Savings Schemes/Instruments Subject: Economy Section: Banking Context: The government is unlikely to raise small savings rates for the coming quarter. The interest rate on small savings instruments is reset every quarter, based on market yields on government securities (G-secs) with a lag, at a spread ranging from 0-100 basis points over and […]
Shadow Banking Subject: Economy Section: Banking Policy Why in the news? Infrastructure Leasing & Financial Services Ltd (IL&FS) has addressed debt resolution of Rs 55,000 crore, or nearly 55 per cent of the debt, after the group became a defaulter, and the government superseded its board in October 2018. Issue? Shadow banks were […]
Sri Lanka Economic Crisis Subject: Economy Section: External sector Context: Sri Lanka is going through its worst economic crisis since 1948 when the country gained independence. Issue? Inflation– surged to around 15% in february2022, the prices of essential items such as food, fuel and medicines rose to a record high leading to state […]
Import policy Subject: Economy Section: External sector Context: To augment domestic supplies of pulses and stabilize their retail prices, the government has extended the ‘free-import’ policy for two varieties — tur and urad — by a year to the end of FY23. Concept: In India, the import and export of goods is governed […]
WTO-EU Norms Subject: Economy Section: External sector Context: India has complained at a WTO meeting of the sanitary and phytosanitary committee about the new regulations imposed by the EU restricting the export of a broad range of commodities including several spices, guar gum, calcium carbonate and food supplements containing botanicals originating from India, […]