Indian Economy

PM, CMs to draw up plans for developed economy status for India. India, which is the world’s sixth largest economy with a GDP of USD 2.7 trillion, is currently classified as a developing nation. With eye on achieving developed country status by 2047, Central government will seek suggestions from states to stitch together a 25-year blueprint for …

The government is set to introduce a second production-linked industry aimed at bolstering the local capital goods industry. The expansion of the PLI scheme for steel industry aims to support the manufacture of capital goods and critical consumables such as refractories, low carbon and low loss of ignition fluxes, rollers, …

In 2021, the QUAD nations set up a Critical and Emerging Technology Working Group to facilitate cooperation in development of critical and emerging technologies, that included biotechnology. However, the potential for Quad cooperation in biotechnology remains insufficiently tapped. The establishment of a Quad-led biomanufacturing hub in India will give the necessary fillip to enhance …

When someone artificially affects the supply or demand for a security (for e.g.  causing stock prices to rise or to fall dramatically), it is known as Market manipulation. Market manipulation may involve techniques including: Spreading false or misleading information about a company; Engaging in a series of transactions to make a security appear more actively traded. Rigging …

RBI recently stated that some financial institutions were yet to facilitate an absolute transition away from the LIBOR benchmark. What is LIBOR? The London Interbank Offered Rate (LIBOR) is a global benchmark interest rate that combines individual rates at which banks opine they may borrow from each other at the London interbank …

India’s goods exports have fell the steepest in three years in April, 2023 because of the weakening global demand and declining commodity prices. According to the commerce ministry data, the Exports have declined by nearly 13% i.e., from $39.70 billion to $34.66 billion in the year-ago period. The Merchandise imports have also fell by 14% to $49.90 billion from …

The government has decided to lower the threshold for businesses to generate e-invoice for business-to-business (B2B) transactions, from Rs 10 crore to Rs 5 crore, and has rolled out the automated return scrutiny module for GST returns in a backend application for central tax officers. The automated return scrutiny module …

Go Airlines (India) Ltd (Go First) said that it was filing for voluntary insolvency proceedings with the National Company Law Tribunal (NCLT) What is insolvency? Insolvency is a state of financial distress for an individual or company. It occurs when that entity is no longer able to meet the financial obligations they have agreed upon with …

In the past decade, debt-for-climate swaps have grown relatively popular among low- and middle-income countries. Debt-for-climate swaps allow countries to reduce their debt obligations in exchange for a commitment to finance domestic climate projects with the freed-up financial resources. It was introduced as a debt restructuring device that aims to combat climate change by ensuring that debt-ridden countries do …

India’s ultra-high-net-worth individuals (UHNIs) allocated 6% of their total investable wealth in the gold last year. In 2022, the average UHNI wealth allocation in gold was 3% globally and 4% in the Asia-Pacific region. Indian UHNIs have stepped up gold allocation from 4% in 2018. This is because gold has delivered returns of over 69 percent in the past …