Investors who want to invest in a sovereign-backed instrument which offers better returns than fixed deposits, may consider a product called G-Sec STRIPS. STRIPS (Separate Trading of Registered Interest and Principal Securities) are created by separating a standard coupon-bearing bond Read More …
Category: Economy
Adani to build three gigafactories
Gautam Adani, the world’s third richest man, on September 7 said his group would set up three gigafactories as part of its commitment to invest $70 billion in green energy and related businesses. Key highlights Adani Group will build three Read More …
India joins 3 pillars of Indo-Pacific Economic Forum for Prosperity (IPEF)
India has joined the three pillars of the US-led Indo-Pacific Economic Forum for Prosperity (IPEF) initiative but has skipped the crucial connected economy (trade pillar). Key points India has joined three of the four IPEF pillars, such as the resilient Read More …
First-Ever Disbursement Approved by Empowered Committee in PLI Scheme
The Empowered Committee headed by CEO, NITI Aayog Parameswaran Iyer on September 9 approved first ever disbursement of incentive for mobile manufacturing under the large-scale electronics manufacturing’ sector. The Production-Linked Incentive scheme for Large-Scale Electronics Manufacturing is expected to make Read More …
RBI & Finance Ministry ask banks, trade bodies to push cross-border rupee trade
Reserve Bank of India (RBI) and the finance ministry on September 7 asked top management of banks and representative of trade bodies to push exports and import transactions in rupee. Current situation As of today (in most cases) if an Read More …
Centre forms panel to review the gas pricing formula
The government has set up a panel to review the formula that dictates the pricing of gas produced by companies like ONGC and Reliance. Key points The committee under former planning commission member Kirit S Parikh will suggest a fair Read More …
SETU-Supporting Entrepreneurs in Transformation and Upskilling
The Minister of Commerce and Industry Shri Piyush Goyal launched the US Startup SETU – Supporting Entrepreneurs in Transformation and Upskilling programme in the Bay Area of San Francisco on September 7. Key points of SETU The SETU initiative would Read More …
The Alliance for Industry Decarbonization
The International Renewable Energy Agency (IRENA), co-founding partner Siemens Energy, and 13 companies across all industry sectors on September 1 launched the Global Alliance for Industry Decarbonization. Key points Adopting the Bali Declaration, the new Alliance aims to accelerate net-zero Read More …
Status Report on India’s External Debt 2021-22
The External Debt Management Unit (EDMU) in the Department of economic Affairs, Ministry of Finance, has released 28th edition of the Status Report on India’s External Debt 2021-22. Key Highlights India’s external debt, at US$ 620.7 billion as at end-March Read More …
World Social Protection Report 2020- 22
The report titled ‘World Social Protection Report 2020- 22: Regional companion report for Asia and the Pacific’ was released by the International Labour Organization (ILO) on September 2, 2022. Key points It is a companion to the ILO’s ‘World Social Read More …
LEADS 2022 Survey
The logistics division of DPIIT, Ministry of Commerce & Industry undertakes an annual “Logistics Ease Across Different States (LEADS)” survey in all States/ UTs to assess and suggest various improvements in logistics sector of the country. Key points The LEADS Read More …
India overtakes UK to become world’s 5th-largest economy
India has become the world’s 5th-largest economy after it overtook the United Kingdom (UK) in end-March 2022, according to the latest calculations by Bloomberg. Bloomberg reached this conclusion by using the IMF database and historic exchange rates. Key highlights The Read More …
State Centre of Coconut Development Board inaugurated at Junagarh
The Union Minister for Agriculture and Farmers Welfare, Shri Narendra Singh Tomar on September 2 inaugurated the 6th State Centre of Coconut Development Board at Junagadh in Gujarat. Shri Tomar also inaugurated the 24th World Coconut Day celebrations. In his Read More …
IMF and Sri Lanka reach staff-level agreement for $2.9 billion bailout loan
The Sri Lankan authorities and the International Monetary Fund (IMF) team have reached staff-level agreement to support the authorities’ economic adjustment and reform policies with a new 48-month Extended Fund Facility (EFF) with a requested access of about SDR 2.2 Read More …
India transferred on an average >9mn DBT payments per day
According to the Ministry of Electronics and IT, more than ₹24.8 lakh crore has been transferred through DBT mode since 2013, ₹6.3 lakh crore in FY 2021-22 alone; on an average >90 lakh DBT payments are processed daily (in FY Read More …