Climate activists vandalise Stonehenge monument Sub: Economy Sec: Monetary Policy Context: Climate activists from the ‘Just Stop Oil’ group sprayed orange powder on the prehistoric Stonehenge monument, at Stonehenge, Wiltshire, England. The act occurred a day before the summer solstice, a significant time when crowds gather at the site for rituals. Details of […]
Russia, N. Korea sign defence pact, vow to assist each other if attacked Sub: Economy Sec: Monetary Policy Russia-North Korea Mutual Defence Pact: Russian President Vladimir Putin and North Korean leader Kim Jong-un signed a partnership agreement promising mutual aid against aggression. The deal includes a clause requiring the countries to come to […]
What are the findings of the 2024 Hindu Kush Himalayas snow update? Sub: Economy Sec: Monetary Policy Record Low Snow Persistence in the Ganga River Basin: The Ganga River basin recorded its lowest snow persistence, with similar declines in the Brahmaputra and Indus basins, threatening the water supply to millions. This as a […]
India’s ‘heat trap’ cities make summers worse, says government official Sub: Economy Sec: Monetary Policy Unbalanced Urban Growth: Indian cities are becoming “heat traps” due to unbalanced growth, reducing water bodies, and increasing greenhouse gas emissions. Wetlands and water bodies have diminished, and permeable spaces have decreased significantly. Scorching Summer Impact: India faces […]
Highlights of Direct Tax Collections Sub: Economy Sec: Fiscal Policy The latest data on India’s direct tax collections for the first quarter of the fiscal year 2024-25 (ending June 17, 2024) highlights significant trends in both personal income tax (PIT) and corporate income tax (CIT). Overall Growth: Net direct tax collections increased by […]
Summary of FDI Trends and Challenges in India (FY24) Sub: Economy Sec: External Sector Net FDI Inflows: Net FDI inflows on capital account fell to $10.6 billion in FY 24 from $ 28 bn in FY 23, a 62% decline from the previous fiscal year, marking the lowest level since 2007. If net […]
Global Central Banks Recalibrate as Policy Easing of 2024 Fizzles Sub: Economy Sec: Monetary policy Overview: End of 2023 Expectations: Major central banks were expected to shift to lower interest rates, making borrowing cheaper. Optimism was high among investors and organizations like the International Monetary Fund (IMF). Reality Check: Persistent inflation and resilient […]