The New Development Bank (NDB) created by the BRICS countries formally came into existence at the Ufa Summit (Russia) in 2015. It was established with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies …
What’s in the news? According to the first advance estimates released by the National Statistical Office (NSO), India’s gross domestic product (GDP) will contract 7.7 per cent in the current financial year as against a growth of 4.2 per cent …
What is PMI? Purchasing Managers’ Index is an economic indicator which indicates the business activity & economic health of both the manufacturing and service sectors. PMI of India is published by Japanese firm Nikkei but compiled and constructed by IHS …
What is it? The RBI’s explicit mandate is to conduct monetary policy. The primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth. Price stability is a necessary precondition to sustainable growth. …
What is in the news? Vadodara (a city in Gujarat) municipal corporation is about to raise money through municipal bonds for its developmental work under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT). It will be the third urban …
Recently, the Reserve Bank of India has cautioned people against unauthorised digital lending apps amid growing concerns over coercive recovery tactics and exorbitant interest rates charged by a section of digital lenders. Crux of the issue The pandemic has given …
Insolvency and Bankruptcy Code (IBC) The Code creates time-bound processes for insolvency resolution of companies and individuals. These processes will be completed within 180 days (unless extended by a one time extendable period of 90 days). If insolvency cannot be …
CONTEXT The events of the pandemic show how it is the need of the hour to modernise India’s archaic tax laws. GAINERS DURING PANDEMIC As a result of the pandemic induced lockdown, India’s GDP contracted consecutively for two quarters from …