GSP
Posted in Economy Concepts World Affairs

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.

Posted in Economy Concepts World Affairs

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
Posted in Economy Economy Concepts

SWIFT Payment System

Major defence deals with Russia have been delayed as Russia being shut out of the global SWIFT system for money transfers.

Posted in Economy Economy Concepts Economy Institutions

Credit Ratings

Moody’s Investors Service has reaffirmed India’s rating as a long-term local and foreign-currency issuer at Baa3.

Posted in Economy Schemes and Initiatives

Digital India Programme

The Union Cabinet approved a five-year extension and expansion of the Digital India programme, including the Computer Emergency Response Team, India (CERT-in) expansion.

Onion Price Hike
Posted in Economy Economy Schemes and Initiatives

Onion Price Hike and Price Stabilisation Fund (PSF)

Government decided to release onions from the 300,000-tonne buffer as part of the price stabilization fund (PSF) to cool onion prices.

Finance Technology
Posted in Economy Economy Schemes and Initiatives ICT

Finance Technology (Fintech)

RBI plans to enhance UPI with AI-driven conversational features for user-friendliness and wider adoption.

Federal Funds Rate
Posted in Economy Concepts Economy

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%.

Nutrient Based Subsidy
Posted in Economy Schemes and Initiatives Agriculture Economy

Nutrient Based Subsidy (NBS) Regime

Standing Committee of Parliament on Chemicals and Fertilizers reports called for ending the import dependence on fertilizers such as urea, diammonium phosphate (DAP), muriate of potash (MOP), and nitrogen, phosphorus, and potassium (NPK).

Food Corporation of India
Posted in Economy Economy Schemes and Initiatives

Open Market Sales Scheme (OMSS)

Centre decided to additionally sell wheat and rice through the Open Market Sales Scheme for Food Corporation of India (FCI) stocks.

SATAT scheme
Posted in Economy Economy Schemes and Initiatives

SATAT scheme

The parliamentary standing committee on petroleum and natural gas criticizes Oil Ministry and its PSUs for not prioritizing CBG projects in the country.

National Institute of Public Finance and Policy
Posted in Economy Institutions Economy

National Institute of Public Finance and Policy (NIPFP)

The National Institute of Public Finance and Policy (NIPFP) has refused to reveal any information on unaccounted income and wealth.