Foreign Asset Investigation Unit (FAIU) Subject: Economy Section: Fiscal Policy Context: The Government’s probe team, supervised by a Multi Agency Group (MAG), has started action first on offshore trust-owning individuals and companies named in Pandora Papers. THE INCOME Tax Department and its newly created Foreign Asset Investigation Unit (FAIU) have conducted two major […]
Currency in circulation Subject: Economy Section: Monetary Policy Context: During the financial year so far, currency with the public has gone up by 9.7 per cent, or Rs 2.66 lakh crore, from Rs 27.51 lakh crore in March 2021. Cash with the public has shot up 285 per cent from a low of […]
National Clearing Ltd Subject: Economy Section: Monetary Policy Context: A probe by market regulator SEBI into the four-hour-long trading disruption witnessed by the National Stock Exchange (NSE) on February 24, 2021, has revealed that the exchange’s critical trading infrastructure suffered a massive breakdown due to faulty design and lower than required capacity to […]
India’s GDP composition Subject: Economy Section: National Income Context: The Indian economy can grow consistently at 8 per cent for the next 20 years leading to the generation of up to 1.5 crore new jobs and bringing out 3.5 crore people out of poverty every year on the basis of the capital investment […]
Insolvency Subject: Economy Section: Msc Context: Insolvency proceedings were initiated against Delhi-based Supertech by the National Company Law Tribunal Concept: Insolvency is a condition in which a debtor is unable to pay his/her debts. Bankruptcy is a legal process that involves an insolvent person or company that is unable to pay its debts. Law? […]
Abuse of Dominance Subject: Economy Section: Msc Context: The Competition Commission of India (CCI) has ordered a probe into a complaint of abuse of dominant position by Google in their news referral and related advertisement service which is a violation of Section 4 of the Competition Act, 2002 The newspaper society also alleged […]
Export Preparedness Index (EPI) 2021 Subject: Economy Section: External sector Concept: NITI Aayog in partnership with the Institute of Competitiveness releases the Export Preparedness Index (EPI). It is the first report to examine export preparedness and performance of Indian states, EPI intends to identify challenges and opportunities; enhance the effectiveness of government policies; […]
Trade deficit trends Subject: Economy Section: External Sector Context: Trade deficit already hit $188.2 billion as of March 21 this fiscal. At this rate, it’s expected to touch 19% of overall goods trade in FY22, compared with a record 24% in FY13, 23% in FY12 and 20.5% in the pre-pandemic year of FY20 […]