72% of Personal Income-Tax Payers Opted for New Tax Regime in 2023-24 Sub : Eco Sec: Fiscal Policy Shift to New Tax Regime: 72% of personal income-tax payers who filed their returns by the July 31 deadline for the financial year 2023-24 opted for the new tax regime. This marks a significant shift […]
As Rate Cuts Near, Investors Assess Fed’s Soft-Landing Strategy Sub: Eco Sec: Monetary Policy Fed’s Plan for Rate Cuts: Fed Chairman Jerome Powell indicated a potential rate cut in September if inflation cools. This is the strongest signal yet of easing monetary policy soon. Investor Concerns: Soft Landing Feasibility: Some believe the Fed […]
Govt to Decide Fate of Sovereign Gold Bond Scheme by September Sub: Eco Sec: External Sector Decision Timeline: The government is likely to make a decision on the continuation of the Sovereign Gold Bond (SGB) scheme by September 2024, coinciding with the Reserve Bank of India’s (RBI) borrowing meeting. Purpose and Current Status: […]
India Needs 75 Years to Reach a Quarter of US Per Capita GDP: World Bank Sub: Eco Sec: National Income Current Trends and Comparisons: Projection: At current trends, India will take 75 years to reach a quarter of the United States’ per capita GDP, as per the World Development Report 2024 by the […]
Bank of Japan Raises Interest Rate for Second Time in 17 Years Sub: Eco Sec: monetary policy Interest Rate Increase Interest Rate: Raised to 0.25% from 0% to 0.1%. This is the second rate hike in 17 years, following the first in March 2023. Monetary Policy Adjustment The BoJ plans for further rate […]
SEBI Tightening May Impact F&O Volumes and Earnings of Bourses Sub: Eco Sec: Capital market Background: The Securities and Exchange Board of India (SEBI) has proposed measures to curb excessive trading in equity derivatives. Potential Impact: Reduction in F&O Volumes: The proposed regulations could lead to a 30-40% reduction in equity derivatives volumes. […]
Surge in India’s Mineral Imports Sub: Eco Sec: External Sector Overview: India has experienced a significant increase in its major mineral imports, with an almost 80% rise in value terms over the past five years, reaching ₹68,633 crore in FY24. However, there was a 2% year-over-year decrease from ₹70,125 crore in the previous […]
Bank Credit Growth and Loan Trends Sub: Eco Sec: Monetary Policy Overall Bank Credit Growth Decline in Growth: Reduced to 13.9% as of June 30, 2024, from 16.3% in June 2023. Non-Food Credit: Total stands at ₹163.46 lakh crore. Credit Card Outstanding Increase: Up by ₹51,000 crore to ₹273,044 crore. Growth Rate: Slowed […]
No Plans to Review Curbs on Chinese FDI by Commerce and Industry Minister Sub: Eco Sec: External sector Statement on Chinese FDI Curbs: Ministry of Commerce and Industry, clarified that there are no plans to review the restrictions on Chinese investments in India via Foreign Direct Investment (FDI). The Economic Survey’s recommendations to […]
Centre Likely to Move ILO Against India Employment Report Sub: Eco Sec: Inflation and unemployment Context: India, a founding member of the International Labour Organization (ILO), is reportedly considering raising a complaint against the UN agency regarding its India Employment Report, 2024. Report Details: Released in March 2024, the report by the ILO […]