India’s ‘Act East’ policy is a diplomatic initiative to promote economic, strategic, and cultural relations with the vast Asia-Pacific region. The Act East policy is considered as the modern version of the "Look East Policy" which was launched in 1991 by then Prime Minister P.V. Narasimha Rao.
The United States of America has again put India in the monitoring list of countries with “questionable foreign exchange policies” and “currency manipulation”. Know why India has been put in this list and also know what currency manipulation is here
The first five-year plan in India was launched in 1951 and since then, India has witnessed twelve Five Year Plans. The present government had however discontinued the Five-year plan system and a new mechanism was put into place. Let us have a look at all the Five Year Plans the country has witnessed so far.
Indian Smartphone industry is a seven billion dollar industry. The initiatives that have been taken by the Indian Government in recent years has not only supported the manufacturing of smartphones in India but also has increased the user interest and decreased the dependency on other countries for our demands.
In this article, we have mentioned India's rank in various indexes in 2019-2020. These rankings are important examination topic for the candidates preparing for UPSC, SSC, RRB, Bank PO/Clerk or any other government and competitive examinations.
In a bid to enhance domestic shipbuilding sector, the Government of India could make the use of domestically manufactured barges mandatory for coastal and inland waterways movement. Let us have a look as the 111 National Waterways in the country.
In 1956, Enforcement Directorate (ED) was established. Its Headquarters is situated at New Delhi. ED is responsible for enforcement of the Foreign Exchange Management Act, 1999 (FEMA), and certain provisions under the Prevention of Money Laundering Act (PMLA), 2002. Let us have a look at the major functions of ED.
Global Multidimensional Poverty Index (MPI) data and publication "Charting pathways out of multidimensional poverty: Achieving the SDGs" was recently released by the United Nations Development Programme (UNDP) and therefore the Oxford Poverty & Human Development Initiative (OPHI). Let us read it in detail.
In 2020, the excise duty has increased at least 10 times since 2014. The excise duty on diesel is now Rs 31.83 and on petrol Rs 32.98 in 2020. Worth to mention that tax on petrol was Rs 9.48 per litre and on diesel, it was Rs3.56 a litre when the Modi government took office in 2014.
In the FY 2019-20 Indian export to China stands at $16.6 billion. India exports organic chemical, mineral fuels, cotton, ores, plastic items, nuclear machinery, fish, salts, electrical machinery and iron and steel to China. Worth to mention that 5.1% of India’s total export went to China in FY 2019.
The Government of India has launched the Floating Rate Bond 2020 scheme from July 01, 2020. The tenure of this bond will be 7 years. The interest rate on floating bonds will change every 6 months on January 1 and July 1. The minimum amount to invest in bonds will be Rs 1000 (digital mode) and maximum Rs 20 thousand in cash.
India vs China Economic Comparison: The bilateral trade between India and China was around USD 92.68 billion in 2019. The Defence budget of China was US$ 178 billion while the Indian defense budget is US$ 70 billion in 2020.
Non-performing assets (NPAs) of all public and private banks in India till March 2020 stand at Rs 10 lakh crore. These NPAs are also called bad loans. The Indian Banking Association has recommended to the Reserve Bank and the Ministry of Finance to form a 'bad bank' in the country to get rid of 'bad loan' problem.
India’s trade with China was $87.07 billion in 2018-19. In this duration, Indian import from China was US$70.32 in 2018-19 while Indian export to China was just US$ 16.75. It means India’s trade deficit with China was $53.57 billion in 2018-19. India sends 8% of its total exports to China whereas China sends only 2% of its total exports to India.