Background As a part of the announcements under the Atmanirbhar Bharat Abhiyan, the Central government recently announced that it would allow commercial mining in the coal sector. What is commercial mining? Commercial mining allows the private sector to mine coal …
Trade deficit is not bad: One of the main reasons why banning trade has been the first reaction is the notion that having a trade deficit. Having a trade deficit/surplus against a country doesn’t make the domestic economy weaker or …
About GST Council Goods & Services Tax Council is a constitutional body under Article 279A, for making recommendations to the Union and State Government on issues related to Goods and Service Tax. The GST Council is chaired by the …
About WPI Wholesale Price Index measures and tracks the changes in the price of goods in the stages before the retail level. It provides estimates of inflation at the wholesale transaction level for the economy as a whole. It is …
About IIP Index of Industrial Production (IIP) details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. It is compiled and published every month by the Central Statistics Office (CSO) of the Ministry …
Context: India’s foreign exchange reserves are rising and are slated to hit the $500 billion mark soon amidst the intense COVID-19 pandemic. The level of foreign exchange reserves has steadily increased by 8,400 per cent from $5.8 billion as of …
What are development banks? Development banks are financial institutions that provide long-term credit for capital-intensive investments spread over a long period and yielding low rates of return, such as urban infrastructure, mining and heavy industry, and irrigation systems. Such banks …
Fugitive Economic Offenders Act, 2018 According to the Fugitive Economic Offenders Act, 2018, a fugitive economic offender is an individual who has committed specified economic offences involving an amount of Rs 100 crore or more and has absconded from India …
What’s in the news? The World Bank has released its Global Economic Prospects (GEP) June 2020 report. Highlights of the report The Indian economy is expected to contract by 3.2% in this fiscal year as a result of the …
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 …