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.
The Banking Regulation Act, 1949 is a law that regulates banking firms in India. This act has been amended by the Banking Regulation (Amendment) Bill, 2020. Read this article to know that what are the salient features of the Banking Regulation Act 2020.
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.
China is the source of around 14% of total Indian imports. Indian import from China includes; electrical machinery, cell phones, heavy machinery, telecom, power, plastic toys and critical pharma ingredients, furniture, pharma, fertiliser, food, and textiles, etc. India has imported goods worth $62.4 billion from China during April 2019-February 2020 period.
The Government of India has launched the Floating Rate Bond 2020 scheme from July 01, 2020. The tenure of this bond will be 7 years. The interest rate on floating bonds will change every 6 months on January 1 and July 1. The minimum amount to invest in bonds will be Rs 1000 (digital mode) and maximum Rs 20 thousand in cash.
The term 'Helicopter Money' was coined by the famous economist Milton Friedman. This means an unconventional monetary policy in which printed money is distributed among the public to recover an economy from the depression.
List of Top Chinese Companies in India:- Xiaomi, Haier, Volvo, Oppo, Vivo, Oneplus, Huawei, and Motorola are some popular Chinese companies are in India. The Chinese investors have invested 40% of its total investment in the Automobile Industry in India.
C. Rangarajan Committee is related to review the Methodology for Measurement of Poverty and Abhijit Sen Committee (2002) is related to the Long Term Food Policy of India. Read this article to know the list of all important committees and their chairman in this article.
The Chinese economy is the second-largest economy in the world in terms of nominal GDP. China is the largest foreign exchange reserve holder in the world also. Read this article to know some important facts about the Chinese economy.
India vs China Economic Comparison: The bilateral trade between India and China was around USD 92.68 billion in 2019. The Defence budget of China was US$ 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.
A sinking fund is a kind of fund in which an amount is deposited at regular intervals that can be used to repay the debt in the future. It is called Debt Remittance Fund. There are only 23 states in India have created a sinking fund. Read this article to know the meaning, objectives, and example of a sinking fund.
Amid COVID-19 pandemic, countries around the world are preparing to reboot their economies. It is being said that the power sector can play an important role in setting the Indian economy in motion. Green Energy (Solar Power Sector) can make India Atmanirbhar but how? Let us study in detail.
Foreign Exchange Reserves: Meaning: Foreign exchange reserve is consists of foreign currency assets, gold, Special Drawing Rights (SDR), and reserve position in the IMF. The total size of the Indian foreign exchange reserve was US$ 487039 million in May 2020.
Mr. KV Kamath may be the new Finance Minister of India. Currently he is President of New Development Bank. He was born on 2 December 1947 at Mangalore, Madras Province, India. Read this article to know the biography of Mr. Kundapur Vaman Kamath.