PURCHASING MANAGER’S INDEX Subject: Economy Context: India’s services sector activity expanded at a slower pace in December as growth in sales eased to a three-month low and staff hiring came to a halt amid weak business optimism, a PMI survey showed. Concept: The Purchasing Managers’ Index (PMI) is an index of the prevailing […]

    NATIONAL INFRASTRUCTURE PIPELINE Subject: Economy Context: Finance and Corporate Affairs Minister Minister Nirmala Sitharaman on Wednesday reviewed the progress of the National Infrastructure Pipeline (NIP) as the government seeks to accelerate infrastructure spending in the economy. Concept: The NIP has been expanded from 6,385 projects at the time of its introduction a year […]

    AEPS AND ABPS Subject: Economy Concept: Aadhaar Enabled Payment system (AEPS) Aadhaar Enabled Payment System is a payment service empowering a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled bank account and perform basic banking transactions. This initiative has been taken up by National Payments Corporation […]

    G-TAM Subject: Economy Context: In December, 90 million units of electricity were sold in G-TAM (Green Term Ahead Market) of India’s Biggest Energy Exchange, the IEX. Concept: G-TAM Green Term Ahead Market (GTAM) in electricity launched as a first step towards greening the Indian short term power market. It is an alternative new […]

  Introduction  (Give context) The world Nations race for vaccination, the need for urgent use of vaccine has raised the controversy of emergency use authorisation. Emergency use authorisation is an interim mechanism by which the vaccine is applied to the public to tackle the pandemic situation without complete trial and approval procedure. Need for emergency […]

    CYBER FRAUDS AGAINST EXPORTERS Subject : Economy Context : The Ministry of External Affairs (MEA) has warned the Commerce Ministry on the increasing number of phishing cyber frauds taking place against Indian exporters. Concept : The MEA has informed that email spoofing/phishing cyber frauds are causing increased bilateral trade disputes. Though this is […]

    FACELESS TAX SCHEME Subject : Economy Context : The government’s faceless tax assessment scheme, an attempt to remove individual tax officials’ discretion and potential harassment for income tax payers, has managed to deliver about 24,000 final orders since its introduction in August 2020. Concept : The government has now passed the Taxation and […]