India Reduces Windfall Tax on Petroleum Crude: Impact on Economy and Consumers The Indian government’s decision to reduce the windfall tax on petroleum crude has significant implications for both the economy and consumers. This move comes amidst rising concerns over inflation and the impact of high fuel prices on various sectors. Let’s delve deeper into…
RBI Expands Gold Hedging Options for Residents Amidst Price Surge The Reserve Bank of India (RBI) has recently announced an expansion in gold hedging options for residents amidst a significant surge in gold prices. This move comes as a response to the growing demand for hedging mechanisms among residents to mitigate risks associated with gold…
India’s Foreign Exchange Reserves Reach Record High India’s foreign exchange reserves have recently hit a record high, showcasing the resilience and strength of the nation’s economy. The Reserve Bank of India (RBI) reported that the country’s forex reserves surged to a remarkable $642.453 billion in the week ending March 25, 2024. This achievement marks a…
Finland Tops Happiness Rankings for 7th Year; Afghanistan Ranks Last In the latest World Happiness Report released by the United Nations, Finland has secured the top position for the seventh consecutive year, while Afghanistan finds itself at the bottom of the rankings. The report, which evaluates the subjective well-being of people across various countries, sheds…
IMF to Release $700 Million Bailout Tranche to Pakistan in January The International Monetary Fund (IMF) has announced the disbursement of a $700 million bailout package to Pakistan in January. This substantial aid comes as part of the ongoing Extended Fund Facility (EFF) program aimed at stabilizing Pakistan’s economy amidst economic challenges exacerbated by the…
Robust Fiscal Management: Centre and States Maintain Sub-7% GDP Fiscal Deficit Fiscal management remains a critical factor in sustaining a stable economic environment, especially amidst global uncertainties. Recent reports reveal a commendable feat by both the Centre and various states in maintaining a fiscal deficit below 7% of the Gross Domestic Product (GDP). This development…
India’s Forex Reserves Surpass $600 Billion Mark after Four-Month Interval India’s economic landscape recently witnessed a significant milestone as its Forex reserves surged past the $600 billion mark after a four-month interval. This achievement stands as a testament to India’s robust economic strategies and resilience in the face of global uncertainties. The steady increase in…
Forex Reserves Jump $2.53 Billion to $597.93 Billion In a significant development, India’s foreign exchange reserves have witnessed a notable surge, reaching $597.93 billion, marking a $2.53 billion increase. This surge is a positive indicator for the country’s financial stability and economic resilience amidst global fluctuations and uncertainties. Importance of this News Economic Stability Boost…
FPIs Offload Indian Stocks Worth Rs. 7,702 Cr in Year’s Biggest Single-Day Sell-Off In recent news, Foreign Portfolio Investors (FPIs) have made a significant move in the Indian stock market by offloading stocks worth a whopping Rs. 7,702 Crores in a single day, marking this year’s most substantial single-day sell-off. This news carries substantial importance…
IMF Maintains 2.5% Growth Forecast for Pakistan The International Monetary Fund (IMF) recently reaffirmed its growth forecast for Pakistan, keeping it at 2.5% for the fiscal year. This announcement holds significant implications for various government job exams, including those aspiring for positions in teaching, police, banking, railways, defense, and civil services like PSCS to IAS….
