economy

Household Savings, Concerns About Rising Household Debt

Context: India has seen a sharp decline in household net financial savings, raising concerns about economic growth and stability. This decrease coincides with a rise in household debt burden. What is Household Savings? Household savings is the money that households add...

India Mauritius Double Taxation Avoidance Agreement (DTAA)

Context India has signed a protocol amending the Double Taxation Avoidance Agreement (DTAA) with Mauritius to plug treaty abuse for tax evasion or avoidance. The India-Mauritius Tax Treaty Amendment includes the introduction of the Principal Purpose Test (PPT) in Article...

Food Inflation in India, Current Situation, International Prices

Context Food price inflation in India remains high (8.7% in February 2024) compared to overall inflation (5.1%). This poses a challenge for the RBI's Monetary Policy Committee (MPC) to cut interest rates. Food Inflation Food inflation refers to the rise...

Central Board of Direct Taxes (CBDT), Functions, Structure

The Election Commission has directed the CBDT to verify any mismatch in the information provided in the affidavit filed by Union Minister and BJP candidate Rajeev Chandrasekhar as he contests from Thiruvananthapuram. CBDT Released key Direct Tax Statistics through Time-Series...

Editorial of the Day (9th Apr): Status of Indian Economy

Context: The Indian economy is projected to have 7% GDP growth in 2024-25. Indian Economy: Current Status Economic Growth and Optimism GDP Growth: India's GDP grew by 8.4% in Q3 of 2023-24, with manufacturing PMI at a 16-month high of...

Food Corporation of India, Structure, Function and Challenges

Food Corporation of India The Food Corporation of India (FCI) has been a cornerstone in India's efforts to ensure food security since its establishment in 1965. Over the years, FCI has played a crucial role in procuring, storing, and distributing...

Electoral Bonds Full Data with Serial No Released By SBI to ECI

Electoral Bonds Full Data with Serial No Out On March 21, the State Bank of India (SBI) announced that it had furnished all details concerning the electoral bond scheme, including unique numbers, to the Election Commission of India (ECI). This...

Non Performing Assets (NPA), Definition, Types, Examples

Context: Care Ratings forecasted that GNPAs are expected to be between 2.5-2.7% in FY24 and further improve to 2.1-2.4% by FY25 end. Important Facts Historical Trend: GNPAs significantly increased from 3.8% in FY14 to 11.2% in FY18 due to stricter...

Fiscal Deficit, Causes, Disadvandages and Way Forward

India's fiscal deficit from April to February in the fiscal year 2023-24 stood at ₹15.01 trillion, accounting for 86.5% of the revised annual estimate, according to data released by the Controller General of Accounts. This figure highlights a significant aspect...

Living Wage in India, Aiming to Replace Minimum Wage With a Living Wage by 2025

India, one of the world's largest economies with a vast workforce, is poised to undergo a significant transformation in its wage policy. The country is moving away from the traditional minimum wage system towards embracing living wages, signaling a fundamental...