Aspects of inequality of India Subject: Economy Section: National Income Context: A new working paper, titled “Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj”, by World Inequality Lab has estimated that “inequality declined post-independence till the early 1980s, after which it began rising and has skyrocketed since the […]
India’s Pursuit for Lowering Cross-Border Remittance Costs Subject: Economy Section: External Sector Proposal at WTO’s Ministerial Conference: India proposed lowering the cost of cross-border remittances at the WTO’s 13th Ministerial Conference in Abu Dhabi. The proposal aims to benefit low and middle-income countries, which accounted for 78% of remittances in 2023. Request to […]
Income and Wealth Inequality in India Subject: Economy Sec: National Income Historical Highs: India’s top 1 per cent income share in 2022-23 was 6 per cent. The top 1 per cent wealth share rose to 1 per cent. India’s top 1 percent income share is among the very highest globally, surpassing countries like […]
India’s Pursuit for Lowering Cross-Border Remittance Costs Subject: Economy Section: External Sector Proposal at WTO’s Ministerial Conference: India proposed lowering the cost of cross-border remittances at the WTO’s 13th Ministerial Conference in Abu Dhabi. The proposal aims to benefit low and middle-income countries, which accounted for 78% of remittances in 2023. Request to […]
Bank of Japan Raises Interest Rates After 17 Years Subject: Economy Section: Monetary Policy In a significant move, Japan’s central bank, the Bank of Japan (BOJ), has raised its benchmark interest rate for the first time in 17 years. Policy Shift: The BOJ has ended its policy of negative interest rates, which were […]
Simplifying Claims Settlement: IEPFA’s Initiative Subject: Economy Section: Capital and money market The Investor Education and Protection Fund Authority (IEPFA) has launched an initiative to enhance the investor experience and streamline the claims settlement process. Purpose of Initiative: Aimed at simplifying, expediting, and streamlining the claims settlement process. Intends to reimagine the refund […]
Impact of Election Schedule on Nifty and Bank Nifty Options Subject: Economy Section: Financial market Historical Timing and Current Scenario: Previous election results of 2009, 20014 and 2019 were announced in May. Election Commission announced a seven-phase schedule from April 19 to June 1, with counting on June 4. Market Reaction and Option […]
Mauritius: Shifting Perspectives on Taxation and Investment Subject: Economy Section: Fiscal Policy From Tax Haven to Gateway Reform Initiatives: Mauritius, historically seen as a tax haven, has undertaken substantial reforms. Initiatives such as signing the Multilateral Instrument, abolishing the deemed foreign tax credit, and amending the Income Tax Act have reshaped its financial […]