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Euro-dollar Parity

In News Recently, the euro and the U.S. dollar reached parity meaning one dollar could buy one euro in the foreign exchange market. About Euro-dollar Parity  Meaning: It means the European and American currencies are worth the same amount. Reasons:  Demand and Supply: The price of any currency in a market economy is determined by […]

Windfall Tax

In News Recently, the government scrapped a windfall tax on the export of petrol and cut the levy on overseas shipments of diesel and ATF as well as on domestically produced crude oil following a decline in global oil prices. About Windfall Tax  Background: On July 1, the government imposed windfall gain taxes on the […]

India Top Remittance Recipient in 2021

In Context  According to a World Health Organisation report, India received 87 billion dollars in remittances in 2021. About the report  According to the report  , in 2021 the top five remittance recipients in current US dollars were India, China, Mexico, the Philippines and Egypt. The first WHO World report on the health of refugees […]

Opium Production & Processing in India

In News Recently, India has opened up the highly regulated sector of producing and processing opium to private players. About Bajaj Healthcare has become the first company to win tenders for producing concentrated poppy straw that is used to derive alkaloids that are the active pharmaceutical ingredient in pain medication and cough syrups. Bajaj Healthcare […]

Digital Banks

In News Recently the Government think tank NITI Aayog released its report titled ‘A proposal for Digital Banks in India: Licensing and Regulatory Regime’. About the report About: The report ‘focuses on avoiding any regulatory or policy arbitrage and offers a level playing field to incumbents as well as competitors It offers a template and […]

Aneurysm

In Context  Actor Emilia Clarke, who appeared in Game of Thrones, has revealed her struggle with a brain aneurysm that caused the loss of “quite a bit” of the organ. What is Aneurysm? It is a swelling of the arteries and veins in any part of the body, and is caused by weakening of the […]

Left Wing Extremism (LWE) Violence

In News Recently, the Union Government answered that incidents of Naxal violence in the country have dropped by 77 percent between 2009 and 2021. About Although such incidents have dropped, deaths of security force personnel due to Maoist violence have more than doubled in Chhattisgarh in the past three years. The resultant deaths (civilians + […]

ISRO’s Space Missions

In News Recently, the Indian Space Research Organisation (ISRO) has set new deadlines for various major missions. About the recent changes/ developments made First solar mission and third lunar mission are set to take place in the first quarter of next year.  XpoSat: this scientific mission is scheduled for next year. The XpoSat will be […]

Central Bank Digital Currency

In Context The Reserve Bank of India (RBI) is in the process of implementing the Central Bank Digital Currency (CBDC) in a phased manner for wholesale and retail segments. Status of  Central Bank Digital Currency in India The introduction of CBDC was announced in the Union Budget 2022-23. Amendments have also been made to the […]

Depreciation of Indian Rupee

In Context  The Indian rupee breached the psychologically significant exchange rate level of 80 to a US dollar in early trade. What is the rupee exchange rate? The rupee’s exchange rate vis-à-vis the dollar is essentially the number of rupees one needs to buy $1.  This is an important metric to buy not just US […]

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