Inflation Current Affairs, GK & News

RBI Annual Report 2021-22: Highlights

In its annual report that has been released by the Reserve Bank of India (RBI), the central bank has highlighted that the Indian economy will most likely bounce back despite the present global risks. What are the various key highlights of this report? Fake currency: In 2020-21, counterfeit notes saw a decline but in 2021-22 ..

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Cut in Excise Duty on Petrol

The union finance minister recently announced the excise cut on petrol and diesel to contain inflation. She also announced a ₹200 subsidy for those buying LPG cylinders under the PM Ujjwala Yojana scheme. How much excise duty is reduced and what is the revenue implication? Union Finance Minister announced reduction of central excise duty on ..

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April Wholesale Price Index (WPI)

The Wholesale Price Index (WPI) based inflation rate surged to 15.1 percent in the month of April due to the rise in prices of fruits, vegetables, manufacturing, milk, power, and fuel according to data that was released by the Ministry of Commerce and Industry. What was the WPI rate in March 2022? In the month ..

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RBI Monetary Policy Committee Announcements – Update (May, 2022)

Recently, the Monetary Policy Committee (MPC) held an unscheduled meeting and made some important announcements. What are the announcements? The MPC unanimously decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 40 basis points to 4.40% with immediate effect. The MPC also decided to maintain the accommodative stance. Which other ..

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States vs Centre on fuel taxes

The Centre and the states are at loggerheads over taxes and duties on petrol and diesel. What is the argument of the Centre? Centre feels that some states are not reducing Value added tax (VAT) on petrol and diesel in line with the Centre’s cut in excise duty. Recently, Prime Minister Narendra Modi said Maharashtra, ..

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