Current Affair Category: Indian Economy

July 13, 2024

After three shocks, 16.45 lakh jobs lost in informal sector over 7 years

The number of workers employed in the informal sector in 2022-23 has dropped by 16.45 lakh or about 1.5 per cent to 10.96 crore compared to 11.13 crore in 2015-16, according to the latest Annual Survey of Unincorporated Enterprises (ASUSE) for 2021-22 and 2022-23 released by the Ministry of Statistics and Programme Implementation (MoSPI). The […]

July 10, 2024

Behind Russia’s ‘high income’ rating from World Bank: 

The World Bank upgraded Russia from an “upper-middle income” country to a “high-income” one, a status it last had in 2014. The ranking was boosted by growth in trade (+6.8%), the financial sector (+8.7%), and construction (+6.6%), which led to increases in both the real (3.6%) and nominal (10.9%) GDP. The improvement, however, is on […]

July 10, 2024

What is Atlas conversion factor ?

The Atlas conversion factor is a method used by the World Bank to convert a country’s gross national income (GNI) from local currency into U.S. dollars. This method is designed to reduce the impact of fluctuations in exchange rates. The Atlas method smooths out exchange rate fluctuations by using a three-year average exchange rate, adjusted […]

July 9, 2024

What is Public debt ? India’s high public debt & its impacts :

What is Public Debt? Public debt, also referred to as government debt or national debt, is the total amount of money a government owes to its creditors. It’s essentially money borrowed by the government to cover spending that exceeds its income (tax revenue and other income sources). Concept: The government borrows money by issuing bonds […]

July 8, 2024

Digital Bharat Nidhi (DBN)

India’s Department of Telecommunications (DoT) released draft rules for the Digital Bharat Nidhi (DBN) on July 4. The goal is to improve and expand efforts to connect people to the Internet, especially in rural, remote, and poor urban areas. This plan changes the current Universal Service Obligation Fund (USOF) by moving money to help make […]

July 3, 2024

Circular Economy

Why in News? It is an economic model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products for as long as possible. This in turn extends the life cycle of the product. Circular economy is an economic system that is based on expanding the life cycle of […]

July 2, 2024

Project Nexus:

Why in News ? The Reserve Bank of India (RBI), along with the Bank for International Settlements (BIS) and central banks of four ASEAN countries, is collaborating on Project Nexus, a multilateral initiative aimed at enabling efficient, faster, and cost-effective retail cross-border payments.  About it : Nexus is a BIS Innovation Hub project that seeks […]

June 27, 2024

Moody’s credit Ratings: Report on India

India’s worsening water shortage crisis can adversely impact the nation’s credit health while sparking social unrest and exacerbating the volatility in its economic growth, rating agency Moody’s Ratings said in a report recently. In addition, coal power generators and steel makers are most vulnerable to water stress, Moody’s said. Decreases in water supply can disrupt agricultural production and […]

June 24, 2024

The World Investment Report 2024

The World Investment Report 2024, published by UNCTAD, provides a comprehensive analysis of global and regional foreign direct investment (FDI) trends and their implications for sustainable development. Key highlights: Global FDI Trends: Global FDI flows declined by 2% in 2023, reaching $1.3 trillion. This downturn is attributed to ongoing global crises, trade tensions, and tighter […]

June 19, 2024

What is Angel tax?

Why in News? Amid a sharp decline in funding for startups and consequent job losses, Indian Inc has sought the removal of Angel Tax that has been a subject of heated debate between the industry and the government ever since the scope of the controversial tax was expanded in the Finance Bill 2023. What is Angel  Tax? Angel tax […]

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Indian Economy | Vaid ICS Institute