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Business affairs focus on the business assets, results, prospects, conditions, as well as liabilities of operations of a particular person or persons. The article is going to focus on the current affairs of the business, mutual funds and UNCTAD as well as the impact of business on the development of a country. The GDP (Gross Domestic Product) in India in 2020 was almost 2622.98 billion US dollars. The country has risen as the fastest growing economy in the world and over almost the next 15 years, it is expected that the country can be one the “three economic powers” in the world.
Current affairs of business
The GDP of India on the basis of current prices is effectively estimated to be at almost Rs. 232.15 trillion in FY 2021-22. Currently, the executive board of directors of the World Bank approved a loan of almost $125 million to West Bengal’s government to help vulnerable and poor groups access the services of social protection. In the present scenario, for the development of business, Maharashtra launches a scheme in order to offer loans to the prisoners as well as Pine Labs and Google Pay tie-up to provide services of “Tap to Pay ” for UPI users. However, the pandemic in 2020 and 2021 has affected the economy of the country.
Larsen & Toubro Ltd has implemented an e-commerce platform named “L&T-SuFin”. The authority of the retirement fund of “Employees Provident Fund Organisation” has reduced the rates of interest to almost 8.1%. The “Union Finance Minister”, Nirmala Sitharaman presents the “Union Budget 2022” for the fourth time. On the concept of the world economy, “International Monetary Fund” in 2022, was published effectively it’s “World Economic Outlook”. The Union Minister, “Shri Piyush Goyal”, launched a system of “National Single Window System” for businesses and investors for economic development.
Mutual funds and UNCTAD (“United Nations Conference on Trade and Development”)
Secure investment plays a significant role in the development of a business and achieving the objectives of the business in a certain period. Mutual fund pools finance from investors in order to purchase security. There are almost 24 mutual fund houses or “asset management companies” that operate in India. The top mutual fund houses of India are “ICICI Prudential Technology Fund”, “Regular Growth of Tata Digital India Fund”, “Fund – Growth-Direct Plan of Aditya Birla Sun Life Digital India”, and “India Fund Growth of Aditya Birla Sun Life Digital”. There is a requirement for effective analysis of financial ratio, expense ratio, as well as investment objective for the business.
UNCTAD deals with the development, trade, as well as investment issues. The authority of UNCTAD alerts that the development of the global economic rate will reduce to almost 2.6% from around 3.6% in 2022 as the war in Ukraine cuts the global development rate prospects by almost 1%. UNCTAD helps the developing nations effectively in accessing the advantages of the global economy more effectively and fairly.
Impact of business on the growth of the country
In the concept of the world economy, India is in the fifth position on the basis of nominal GDP of almost 2.72 trillion. The development of business assists in the development of the underdeveloped cities of India and increasing employment opportunities for the people. India needs to develop employment opportunities and create almost 90 million jobs on the basis of non-firm. The growth of a business can help in increasing the rate of GDP as well as the country can be one of the top three economic countries in the world.
Conclusion
Based on the above discussion, it can be concluded that India is in the fifth position on the basis of the GDP of the world economy. The article discussed the current affairs of the business, mutual funds and UNCTAD as well as the impact of business on the development of a country. The growth of a business can help in increasing employment opportunities as well as the development of the underdeveloped areas of the country.
