Global oil prices have declined to around $47 a barrel. It was $110 in June 2014. Since then, prices have been on a free fall and it has reached below $50 a barrel. Prices of oil have been stable from the year 2010 till mid-2014.
IIP or Index of Industrial production registered an increase of 7.5 % in January 2018. This article attempts to demystify this economic indicator.
Angus Deaton won the Nobel prize in Economic sciences 2015 for his “analysis of consumption, poverty, and welfare.” Through his work, he tried to improve the accuracy of measurements of economic indicators like income, consumption, and poverty. His work has influenced policy-making in developing countries.
Poverty is one of the most challenging problems facing the Indian economy today. But, the recent World Bank report has given us something to cheer about. Though India still has the largest number of worlds’ poor, its poverty rate is the lowest among developing countries. It also suggests that we have been overestimating our poverty rates.
The Government scrapped the planning commission on 1st January 2015 and replaced it with NITI Aayog. The Planning commission was formed in the year 1950. NDA Government shut it down in the year 2015 and replaced it with NITI Aayog. The major arguments against the planning commission were:
Goods and Services Tax (GST) has been touted as the biggest tax reform in India since independence. The Government has set 1 April 2015 as the deadline for the roll-out of the tax. This article explains GST and its impact in a simplified manner.
Simply put, financial inclusion is providing basic financial services like credit, deposits, insurance, payments, remittances, etc. to all people without any discrimination. [You may also read: What do you mean by Microfinance and Microcredit?] The basic prerequisite to access these financial services is to have a bank account.