GS paper 3

Goods and Services Tax (GST), Objectives, Features, Subsumed Taxes

Goods and Services Tax (GST) Goods and Services Tax (GST) is an indirect tax system introduced in India on July 1, 2017, which subsumed multiple indirect taxes levied by the central and state governments, such as VAT, excise duty, and...

Money Market, Concept, Objectives, Types, Instruments, Structure

Money Market Money Markets refer to the segment of the financial market where short-term borrowing and lending of funds take place. It primarily deals with highly liquid and low-risk instruments that have maturities typically ranging from overnight to one year....

RBI Monetary Policy Committee: Repo Rate Unchanged at 6.5%

In a highly anticipated move, the Reserve Bank of India (RBI) has maintained its repo rate at 6.5% for the ninth consecutive policy meeting. This decision, announced during the RBI Monetary Policy Committee (MPC) meeting held from August 6 to...

GDP of Indian States 2024, Highest and Lowest GDP State

India is a diverse country with different states having varying levels of economic development. The GDP of Indian states is a dynamic and ever-changing landscape, with some states witnessing rapid growth while others face challenges. Top 3 Largest Economies (as of...

Sikkim Flash Floods and Cloud Burst, Causes, Effects

What are Flash Floods? Flash floods are the most dangerous kind of floods because they combine the destructive power of a flood with incredible speed. When the amount of severe rainfall surpasses the soil's capacity to absorb it, flash floods...

Unemployment Rate in India, Current Rate, Historical Trends, and Analysis

As of June 2024, India's unemployment rate stands at 9.2%, according to the Centre for Monitoring Indian Economy (CMIE). This marks a notable increase from 7% in May 2024, reflecting ongoing economic challenges and labor market dynamics. Employment Rate in...

Balance of Payment (BoP), Types and Components

Context: Reserve Bank of India data showed that India registered a current account surplus during the fourth quarter (Jan-Mar) of the FY 2023-24. Balance of Payment The Balance of Payments (BoP) is a record of all economic transactions between residents...

Foreign Portfolio Investment (FPI), Benefits and Challenges

Context: Foreign portfolio investors (FPIs) pulled out ₹14,800 crore from equity markets, driven by the outcomes of recent elections and the appealing valuations of Chinese stocks. Foreign Portfolio Investment (FPI) Foreign portfolio investment (FPI): It involves holding securities and other...

Repo Rate and Reverse Repo Rate, its Impact on Economy

Context: The Monetary Policy Committee (MPC) decided to keep the repo rate stable at 6.5%, focusing on withdrawing accommodation gradually to ensure inflation does not accelerate while still supporting economic growth. Repo Rate Latest Updates The Reserve Bank of India...

World Environment Day 2024, Theme, History and Significance

World Environment Day is an important global event celebrated annually on June 5th. It's a day dedicated to raising awareness and taking action on urgent environmental issues facing our planet. Each year, the day is organized around a specific theme...