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Daily News Analysis 15-07-2014

DATE : 15-07-14

S.NO.

NEWS ITEM

SYLLUBUS

BACKGROUND

IMPORTANT POINTS

1.

 

WPI inflation eases

a)     Economy

a)     Inflation

b)     Retail inflation

c)     Food Inflation

d)     WPI

e)     CPI

a)     Annual Wholesale price index-based(WPI) inflation lowered to 5.4% and WPI grew at 9% in June.

b)     Food prices are likely to continue to remain under pressure due to the possibility of drought.

c)     Global fuel price pressures are also likely an additional pressure on inflation over the ongoing tensions in Libya and Iraq.

d)     Retail inflation fell down in June mainly on account of lower prices of food items, including vegetables, cereals and meat.

2.

Comprehensive GST regime a reality by year end

a)     Economy

a)     GST

b)     GDP

c)     Fiscal Deficit

a)     Tax and other incentives in the budget 2014-15 had thrown open huge opportunities for growth and development.

b)     The budget also focused on ensuring predictability, stability and transparency in tax regime to reduce the concerns of investors.

c)      Uniform tax rate with respect to withholding tax on all bonds issued by Indian corporate abroad is also a good recommendation.

3.

RBI directive to NBFCs

a)     Economy

a)     RBI

b)     NBFC

a)     RBI ordered NBFCs not to levy pre-payment penalties on floating rate term loans, including housing loans.

b)      Floating loan products include housing, corporate, vehicle and personal loans.

c)      Earlier, the RBI had asked banks not to levy any penalty on individual borrowers for pre-paying floating loans.

4.

Wars without winners

a)     International

b)     Social

a)     Afghanistan, Syria, Libya and Iraq issues

b)     ISIS

c)     NATO

d)     Tripoli Brigade

e)     Sharia law

f)     Communalism & Extremism

a)     The global concerns over extremism is in fact that the direct or indirect western intervention.

b)     Earlier US intervention on Soviet-backed regimes of President Najibullah in Afghanistan, President Bashar al-Assad in Syria, Saddam Hussein in Iraq and Muammar Qadhafi in Libya.

c)     In Afghanistan, the US developed Islamic jihad as a counterpoint to Soviet communism, with American arms and Pakistani training.

d)     None of these interventions was in line with the UN mandate of the “responsibility to protect” citizens.

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