Indian Economy Current Affairs, GK & News

RBI Monetary Policy Committee Meeting – Highlights

The MPC has lowered the GDP forecast and increased the repo rate by 50 basis points. Key Highlights The Reserve Bank of India (RBI) has increased the repo rate by 50 basis points to 5.90 per cent, which is a three-year high. This makes funding expensive for existing and new borrowers. For existing borrowers, all ..

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Extension of Foreign Trade Policy 2015-20 – Update (September, 2022)

The current Foreign Trade Policy has been extended by six months due to currency volatility and global uncertainty. Key facts Foreign Trade Policy 2015-20 has been extended for the period of six months until March 2023. This extension will come to effect from 1st of October 2022. It is being extended in view of the ..

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Amendment of Foreign Trade Policy of India for Rupee Settlement

The Central Government has made changes to the Foreign Trade Policy of India to activate the RBI’s mechanism facilitating trade in the Indian Rupee. Key facts The recently amended Foreign Trade Policy of India allows international trade invoicing, payment and settlement in the Indian Rupee. It enables Indian importers to make payments in rupees via ..

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National Logistics Policy

Prime Minister Modi recently launched the National Logistics Policy (NLP). Key features The National Logistics Policy aims to promote smooth movement of goods across India and boost competitiveness of the Indian goods in the domestic and international markets. It aims to bring down the logistics cost, which in turn would improve efficiency of various sectors ..

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India set to become 3rd largest economy by 2030

Recently, State Bank of India (SBI) released a research report which states that India is likely to become the third largest economy in the world by 2029. Highlights The report said that India has gone through a major structural transformation since 2014 (when it was ranked 10th) and is now the 5th largest economy, overtaking ..

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India becomes world’s fifth-largest economy

Recently, India has overtaken the UK to become the fifth largest economy in the world. India is now behind the US, China, Japan and Germany in terms of economy. A decade ago, India was ranked 11th among the world’s largest economies, while the UK was firmly at number 5. Key Points In the midst of ..

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