Editorial Analysis: Construction and manufacturing could be our growth propellants

Boosting India's GrowthApprox Read Time: 5 min Boosting India's Growth India needs fast growth to create large number of jobs: India needs to create 90 million non-farm jobs over the next decade.This require an average annual gross domestic product (GDP) growth of 8.0–8.5% over 2023 to 2030.Failure to achieve this growth momentum will mean a decade of missed opportunity. Construction and Manufacturing sectors will be important to achieve this: In…

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RBI offers on-tap TLTRO worth Rs 1 lakh crore, OMOs for state bonds to keep lid on yields

Improving liquidity through TLTRO/OMOApprox Read Time: 6 min In News: While keeping the key policy rates unchanged, the RBI has announced various measures to bring more liquidity in the financial markets, keep bond yields under control, and improve availability of debt to specific sectors. Improving liquidity through TLTRO/OMO Measures announced: On-tap TLTRO to improve liquidity:The RBI has introduced on-tap targeted long-term repo operations (TLTRO) of Rs 1 lakh crore for providing additional…

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Economic Updates: Amendments to Insolvency & Bankruptcy Code gets Parliament nod

Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020Approx Read Time: 5 min In News: The Parliament has passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020.It replaces the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 promulgated in June this year.The ordinance came in response to the Covid-19 pandemic, which had created uncertainty and stress for businesses.The bill amends the Insolvency and Bankruptcy Code (IBC), 2016 which provides a time bound process for…

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Economic Concerns: GDP collapses 23.9% in Q1, worst among big economies

GDP collapses 23.9% in Q1Approx Read Time: 6 min In News: India’s economy posted its steepest contraction on record in the April-June quarter of the current fiscal year. News Summary: GDP collapses 23.9% in Q1 As per the provisional estimates by the Ministry of Statistics and Programme Implementation (National Statistical Office), GDP in April-June of 2020-21 slumped to 23.9%.The GDP growth of (-23.9%) means that the total value of goods and…

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Oct-Dec GDP growth slows to 7-yr low of 4.7%

GDP growth slows to 4.7%Approx Read Time: 5 minutes In News: India’s third quarter economic growth slowed to a near seven-year-low in the October-December period of 2019-20, as a slowdown in manufacturing pulled down overall economic momentum. The October-December GDP growth of 4.7% (compared with 5.6% in the year-earlier period) is the slowest in 27 quarters and slowest since the 4.3% expansion in the January-March quarter of 2012-13. Revision of…

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India needs to support pillars of wealth creation

India's Economic GrowthApprox Read Time: 5 minutes India was a dominant economic power for a long time: For more than three-fourths of known economic history, India has been the dominant economic power globally. Till about 1750 AD India accounted for about 40% of the world’s GDP. The dominance is in sync with importance given to wealth creation: Economic dominance over such long periods manifests by design; not by mere chance.…

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Mondelez India settles tax dispute under Sabka Vishwas Scheme; pays Rs 439 crore

Sabka Vishwas SchemeApprox Read Time: 4 minutes  In News: Private sector company Mondelez India Foods Pvt Ltd (earlier Cadbury India) has settled its controversial tax dispute in India under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019.The firm, which was accused of evading taxes of about Rs 580 crore, excluding taxes and penalties, paid Rs 439 crore on January 20, under the amnesty scheme. About: Sabka Vishwas (Legacy Dispute Resolution)…

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Economic Bytes: Exports shrink 5th month in row

Exports shrink 5th month in rowApprox Read Time: 4 minutes In News: India's merchandise exports contracted 1.8 % in December, declining for fifth month in a row month. News Summary: India’s exports declined 1.8% in December to $27.36 billion, declining for fifth month in a row month. Imports witnessed a sharper decline of 8.83% at $38.61 billion in December. This helped narrow down the trade deficit to $11.25 billion in…

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