A non-deliverable forward (NDF) book is a financial market that allows it’s participants to speculate and hedge in currencies that are not freely convertible. NDFs are basically a type of financial derivative contract that allows parties to lock in a future exchange rate for a specific currency pair. Key Features:
What is Direct tax and Indirect Tax?
Direct Taxes are imposed on one’s income and earnings and are paid directly to the government. On the other hand, indirect taxes are just opposite and are paid to the government whenever any goods or services are purchased.
Ganges River dolphin (Platanista gangetica gangetica)
According to the IUCN, the Ganges River dolphin (Platanista gangetica gangetica) is listed as endangered. The Ganges River dolphin are almost blind and uses echolocation to navigate, find prey, and sense its environment. Also known as the Susu.
The Line of Actual Control (LAC)
The LAC is the actual line of control separating the part of Indian territory from that of China. The line is drawn with the 1962 Sino-Indian war. Some remarks about the LAC: Some moves to bolster the LAC include:
What is H1B Visa?
H-1B non immigrant visa program allows U.S. employers to temporarily employ foreign workers in specialty occupations, defined by statute as occupations that require highly specialized knowledge and a bachelor’s or higher degree in the specific specialty, or its equivalent
Organization of the Petroleum Exporting Countries Plus (OPEC+)
OPEC+, or the Organization of the Petroleum Exporting Countries Plus, is a group of oil-exporting countries that work together to regulate the supply of oil and stabilize global oil prices
MGNREGS Wages Hike
Context: The parliamentary standing committee on rural development and panchayati raj has urged the government to consider revising and increasing wage rates under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) finding the current payment not in “consonance with the rising cost of living”. Read about: Mahatma Gandhi National Rural Employment Guarantee Act ( MGNREGA )
3.7 Million Farmer IDs under AgriStack
Context: The government on Tuesday informed Parliament that more than 3.7 million identity cards of farmers have been created so far as part of the AgriStack project. What is AgriStack Initiative? Providing APIs for AgriStack Initiative
MSP Needs Recognition
Context: Parliamentary standing committee on agriculture, animal husbandry and food processing recommends a legally recognized minimum support price for farm produce. Key Highlights:. The Minimum Support price (MSP) The minimum support price (MSP) is the minimum price that is set by the Government of India for certain crops to ensure a minimum profit as well as ensuring food security for farmers. The MSP is basically announced at the beginning of the sowing season for crops like wheat and paddy. The government fix the mount of MSP based on recommendations from the Commission for Agricultural Costs and Prices (CACP). Aim of MSP: The MSP is different from the procurement price and issue price. When the market price for a commodity falls below the MSP, the government buys the entire quantity of food grains by the farmers at the MSP.
The Indian Rupee Fell
Context: The Indian rupee fell an all-time low of 84.93 per US dollar, per mid-session on Tuesday. Factors Affecting:
