Subject: Economy Context: A study by International Labour Organization has warned that the COVID crisis has disproportionately affected young people, and could impact upon their work opportunities and career options for decades to come. Concept: ILO termed youths of present generation as ‘lockdown generation’ as they have been bearing social and economic impact of COVID […]
Subject: Economy Context: Central Board of the Reserve Bank of India (RBI) met through video conferencing and discussed the economic scenario, impact of the RBI measures and interest rate transmission but did not take up the proposal to restructure the loans of borrowers hit by COVID-19 pandemic. Concept: Rate transmission It is the process through which […]
Subject: Economy Context: 15th Finance commission chairperson N.K.Singh has suggested government should concentrate on interventions and fastest possible revival of the economy rather on debt and fiscal consolidation at present Concept: Debt Public debt is the total liabilities of the central government contracted against the Consolidated Fund of India. The debt-to-GDP ratio indicates how likely […]
Subject: IR/Economy Context: HSN code is in news over debate over GST rate for roti and Parotta. Concept: HSN is a six-digit code that classifies more than 5000 products, arranged in a legal and logical structure. To achieve uniform classification, the HSN is supported by well-defined rules and is accepted worldwide. HSN classification is widely […]
Subject: Economy Context: The Shipping Ministry attempts to privatise the multi-modal cargo terminals at Varanasi, Haldia and Sahibganj on National Waterway 1 on equip-operate-transfer model Concept: IWAI The Inland Waterways Authority of India (IWAI) came into existence on 27th October 1986 for development and regulation of inland waterways for shipping and navigation. The Authority primarily […]
Subject: Economy Context: Centre has decided to allow milk powder imports under Tariff Rate Quota (TRQ). It irked dairy farmers, who are already struggling with lower realizations amid excess supply and demand destruction due to Covid-19. Concept: A TRQ is a mechanism that allows a set quantity of specific products to be imported at a […]