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Jan 22 nd, 2016
Misc CANo Comments

15 Economy Related Short-Hand Notes (2 Mins) Revision – Current Affairs Sept-Oct – Coming Exams – Part III

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• Govt. hike > 5% duty on edible oil as a protection move for domestic producers > edible oil now 20% and crude oil at 12.5%

• India’s merchandise exports > decline by over 13% > due to sharp erosion in commodity prices globally

• Russia demand of tea 160 million kg > earlier India was supplying 50 million kg, now decreased to 40 million kg > chances for India to increase its export of tea to Russia

• Small tea growers > WB and Assam > distress > low prices offered by bought leaf factories (BLF) > because quality not good

• Natural gas production increase by 3.7% > crude oil by 5.6% > 1st time in 3 years > due to fields of Andhra P, Tripura started production > Oil Companies of view to ask centre to cut cess on crude oil in view of ongoing slump in prices

• RBI repo rate cut by 50 basis points > 7.25 to 6.75 % > CRR – 4% > RRR – 5.75% > bank rate – 7.75%

• S&P > India should benchmark its NG prices similar to gas-deficient nations and not surplus > as India don’t have developed transport infrastructure nor surplus production > so they must not compare themselves with gas surplus countries but with gas deficient countries

• India’s gasoline or petrol exports to decrease by 98% by 2019 > will become 2nd largest importer of gasoline after Indonesia by 2024

• 50 basis point reduction in repo rate > attract annual flow of Rs. 48K crores in government bonds > from overseas investors in 3 years

• Outgo on subsidies > decreased to 1.6% of GDP in 2015-16 > was 2.5% in 2012-13

• Import duty on ghee, butter and butter oil > raised by 10-40% > after domestic producers demanded duty protection > steep decline in global prices of these dairy products

• Cause of NPAs > in Banks > lending loans > developers higher than project cost

• Pradhan Mantri Mudra Yojana > FinMin > to fund the unfunded > from banks to non-farm income generating enterprises less than 10 lakh > 3 categories > shishu, kishor and tarun depending on the range of funding

• Productivity linked bonus > 12.58 lakh non-gazetted railway employees

• DTAC with Israel and Vietnam > to fight against black money > sharing info on tax matters with each other and with other concerned financial institutions as well

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