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Why in the news? India’s average import tariff (17%) is the highest among BRICS nations and five times that of the U.S. (3.3%), mainly due to high agricultural tariffs. The U.S. is pushing for tariff reductions, impacting trade negotiations. India’s Import Tariff Structure India’s average import tariff in 2023 was 17%, significantly higher than the …
Read MoreWhy in the news? NITI Aayog’s first Fiscal Health Index ranked Odisha as the top performer for FY 2022-23, excelling in fiscal management and debt sustainability, while Punjab, Kerala, West Bengal, and Andhra Pradesh ranked lowest due to fiscal challenges. Top Performers in Fiscal Health Index (FHI): Odisha, Chhattisgarh, Goa, and Jharkhand emerged as the …
Read MoreWhy in the news? The Indian rupee breached the Rs 85 mark against the US dollar due to trade imbalances, inflation disparity, and investors pulling out funds from India. Why is the Rupee Weakening? Trade Imbalance: If India imports more from the US than it exports, demand for the US dollar increases, causing the rupee …
Read MoreWhy in the news? India’s forex reserves increased by $1.5 billion to $658.1 billion after an eight-week decline, driven by RBI interventions and fluctuating foreign portfolio investments, enhancing economic stability. Forex Reserves Surge After Eight-Week Decline: India’s foreign exchange reserves increased by $1.5 billion, reaching $658.1 billion. The surge follows an eight-week decline in reserves, …
Read MoreWhy in the news? Domestic stock markets fell sharply due to concerns over foreign portfolio investor outflows and escalating conflicts in West Asia, impacting investor sentiment and sector performance. Market Decline Due to West Asia Tensions and FPI Concerns: Domestic stock markets fell on October 4, with Sensex dropping 808.65 points (0.98%) to 81,688.45 and …
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