Finance Ministry eases procurement rules for scientific research equipment Subject: Economy Sec: Fiscal policy Context: Ahead of the presentation of the Union Budget, the Finance Ministry has announced changes that will provide greater flexibility to scientific Ministries to import and buy equipment necessary for research. More about News: In the General Finance […]
China’s Gold Buying Trends Sub: Eco Sec: External sector Introduction China has the largest foreign currency reserves globally, at $3.22 trillion as of June 2023. Despite this, gold’s share in China’s reserves is at a record high of 4.9%, still below the global average of 16%. Reasons for Gold Buying Safety: Gold reserves […]
WTO Pact Concerns for Small Fisher Bodies Sub: Eco Sec: External sector Background: Small-scale fisher organizations from India, Bangladesh, Ecuador, Gambia, and Indonesia have raised concerns about the WTO’s comprehensive agreement on curbing overcapacity and overfishing (OCOF) subsidies. They believe this agreement will have serious implications for their future and that of indigenous […]
Poor performance of India’s most populated states to end hunger & empower women slows down national, global SDG progress Sub: Economy Sec: National Income Context: India has performed the worst on SDG 2 (Zero Hunger) and SDG 5 (Gender Equality) among the 15 Sustainable Development Goals (SDGs) monitored, according to NITI Aayog’s SDG […]
The Problem with Billionaire Consumption Sub: Eco Sec: National Income Introduction: The lavish wedding celebrations of billionaire Mukesh Ambani’s youngest son highlight the issue of conspicuous consumption by the rich. This raises questions about the impact of such private wealth displays in a society with high inequality. Perspectives on Billionaire Consumption: A. Right-Wing […]
Banks’ Deposit Growth Dips to 10.6%; Credit Growth at 13.9% as of June 28 Sub: Eco Sec: Monetary Policy Overview: Deposit growth of commercial banks has slowed to 10.64% for the fortnight ending June 28. Credit growth also saw a decline during this period. Key Statistics: Credit Growth: 13.88% year-on-year (Y-o-Y) increase, reaching […]
Global Bond Index Inclusion to Enhance ‘Indianisation’ of Hot Money Sub: Eco Sec: External Sector Introduction: India’s inclusion in global bond indices is expected to bolster the balance of payments (BoP) surplus and promote the ‘Indianisation’ of global hot money, according to SBI’s economic research team. Key Developments: In September, JP Morgan Chase […]
346 More Defence Items Worth ₹1,048 Crore Removed from Import List Sub: Eco Sec: External Sector Overview: The Ministry of Defence (MoD) has notified the 5th ‘Positive Indigenisation List (PIL)’ consisting of 346 items. The aim is to reduce dependence on imports by allowing defence PSUs to place orders worth ₹1,048 crore with […]
India Urges Russia to Address Non-Tariff Barriers to Boost Trade Sub: Economy Sec: External Sector India’s Request: India is urging Russia to address non-tariff barriers (NTBs) in sectors such as marine products and pharmaceuticals. The aim is to boost Indian exports and reduce the trade imbalance between the two countries. Bilateral Trade Target: […]