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Mains Current Affairs (Economy)

As per a recent update, the Reserve Bank of India (RBI) is planning to introduce its own version of Central Bank Digital Currency (CBDC). The Currency is to be introduced in a phased manner after proper assessment on issues such as- 

Researchers say the amount of electricity generated from burning fossil fuels has likely peaked worldwide, as emerging markets invest in clean and cheap renewables over coal, oil and gas.

Union Minister for Fisheries, Animal Husbandry and Dairying, launched a new exclusive app — the Matsya Setu app — which promises to be of great help to all those wanting to become aqua farmers. This has brought to our focus a deeper analysis of Indian Fisheries’ industry.

As per the latest data provided by the Ministry of Commerce and Industry, India saw its highest-ever inflow of foreign direct investment (FDI) of $81.72 billion during the financial year 2020-21 which is a 10 per cent rise on a year-on-year basis.

India’s GDP fall

7th Jun, 2021

The recent government estimates released show2 that India’s GDP contracted by 7.3% in 2020-21. While the pandemic has hit growth in countries across the world, several trends over the last decade show that the Indian economy was already worsening in the years before Covid-19.

The yield on the benchmark 10-year bond has fallen below 6%. The Reserve Bank of India’s decision to step up purchase of government securities under the government securities acquisition programme (G-SAP) had been one of the great reasons behind this reduction of yield.

The United States government announced support for waiving intellectual property protection for Covid-19 vaccines, saying extraordinary circumstances call for extraordinary measures. United States Trade Representative said the US will pursue “text-based negotiations” on the waiver at the World Trade Organization (WTO).

RBI Governor Shaktikanta Das has recently said that RBI is charting out the technology and procedure to roll out Central Bank Digital Currency in near future.

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