All India Debt & Investment Survey Subject – Economy Context – Debt of households surged between 2012 and ’18: NSO Concept – All India Debt & Investment Survey is conducted by the National Statistical Office (NSO). The number of indebted households have risen sharply in rural India, with the average debt shooting up by 84% between 2012 and 2018, and […]

    Private Final Consumption Expenditure (PFCE) Subject – Economy Context – weakening growth in consumer demand impacted GDP growth Concept – The GDP is calculated by capturing the expenditures of different components of the economy. It adds up the expenditure by private individuals (PFCE), by businesses investing money to ramp up production (Gross Fixed […]

    Unified Payments Interface (UPI) Subject – Economy Context – India, Singapore to link fast payment systems Concept – The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) on Tuesday announced a project to link their respective fast payment systems — Unified Payments Interface (UPI) and PayNow — to facilitate […]

    Inflation Subject – Economy Context – At 5.3%, retail inflation softens further in Aug on cheaper food Concept – To know about retail inflation, please click here. To know about retail vs WPI inflation, please click here.

    Input Tax Credit and Inverted Tax Structure in GST Subject – Economy Context – Inverted duty refund only for inputs, not input services: SC Concept – The Supreme Court held that inverted duty refund is admissible only with respect to inputs and not for input services. A fundamental feature of GST is the […]

    Insurance Regulatory and Development Authority of India (IRDAI) Subject – Economy Context – Widening cyber insurance ambit: Irdai pitches for global jurisdiction Concept – Insurance Regulatory Development Authority (IRDA) is a statutory body set up by the IRDA Act, 1999. It is an autonomous and apex body which has the responsibility to regulate […]