Category: Economy Concepts
Generalised System of Preferences (GSP)
Donald Trump has raised the issue of high tax by India on certain American products and has threatened to slap with reciprocal tax if voted to power in the 2024 presidential elections.
India – ASEAN: Free Trade Agreement
India and the ASEAN countries reached an agreement on Monday to review their free trade pact for goods by 2025.
SWIFT Payment System
Major defence deals with Russia have been delayed as Russia being shut out of the global SWIFT system for money transfers.
Credit Ratings
Moody’s Investors Service has reaffirmed India’s rating as a long-term local and foreign-currency issuer at Baa3.
Federal Funds Rate
Federal Open Market Committee meeting was determined to raise the targeted federal funds rate to a range of 5.25% to 5.5%.
Retail Inflation & Monetary Policy Committee
India’s retail inflation may have spiked close to or over the 6% upper tolerance threshold of the Reserve Bank of India (RBI) in July, owing to a broad-based uptick in food prices.
Geographical Indication (GI) tag
Seven products across India [Rajasthan (4), Goa (2), Uttar Pradesh (1)] were given the Geographical Indication (GI) tag recently.
Fiscal Deficit
Centre’s fiscal deficit at the end of the first quarter was 25.3% of the full-year target.
Non-Performing Assets (NPA)
Finance Minister urged public sector banks to ensure the fair and transparent identification of non-performing assets (NPAs).
Friend-shoring and FDI
Finance Minister cited that Friend shoring of FDI is leading to a fragmentation in FDI flows across the globe.
Dark Patterns
Department of Consumer Affairs and Advertising Standards Council of India (ASCI) recently came up with guidelines for ‘dark patterns’.
Internationalisation of the rupee & Triffin Dilemma
RBI-appointed working group recommended various measures to accelerate the pace of internationalisation of the rupee.