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13th September Part-3: DNA
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Rishab Arora
Graduate in Economics. Gold medal in Dissertation, Prepared various documents on Demonetisation and GST, Share-trading and many more

U
Unacademy user
mam ur explaining way is awesome can u guide me for upcoming net exam ....
  1. Retail inflation eases to 3.69% in Aug. (GS-3) Mixed news on the economy CPI % 5.00 IIP % Mar-18 5.3 4.28 April 48 4.8 3.9 May June July IIP % Apr-July 18 4.25 6.8 3.69 6.6 3.50 Mar MayJuly 18 5.4 Apr June Aug. Apr-Juty '17


  2. Retail inflation in the country fell below the Reserve Bank of India's (RBI's) medium-term target of 4% last month. The inflation as measured by the consumer price index (CPI) eased to a 10-month low of 3.69% in August 2018, on the back of a decline in the prices of food products such as vegetables, pulses and sugar even as fuel prices increased. As per data released by the Ministry of Statistics and Programme Implementation, retail inflation stood at 4.17% in July 2018 and 3.28% in August 2017 Food and beverage within the index, food and beverage category inflation fell to 0.85% as compared with 1.73% in July 2018. This was driven by a sharp decline in prices of fruits, vegetables, eggs, pulses and sugar and confectionery products . Inflation numbers were lower for clothing and footwear category at 4.88% (as against 5.28% in July) and housing category at 7.59% (compared to 8.30% in July). There was slowdown in prices in the pan and tobacco category as well at 5.34%, down from 6.34% in July.


  3. Fuel rises S. However, fuel and light inflation stood at 8.47% in August, up from 7.96% in July. . Meanwhile, the Index of Industrial Production (IIP) expanded at 6.6% in the month of July 2018 driven by the manufacturing sector. 2. As per the data released on Wednesday, the IIP had expanded by just 1% in July 2017. The lIP growth for June 2018 stood at 6.8%. S. The manufacturing sector recorded a growth of 7% in July, while the consumer durables sector grew at 14.4%. Likewise, capital goods production grew by 3% during the month under review. In terms of industries, 20 out of 23 industry groups in the manufacturing sector showed positive growth during July 2018, with highest growth of 42.7% in 'manufacture of furniture, category, followed by 30.8% in manufacture of computer, electronics and optical products, and 28.4% in 'manufacture of tobacco products,' category. However, the industry group 'manufacture of paper and paper products' and 'printing and reproduction of recorded media' showed negative growth of 2.7% and


  4. Rupee rallies on hints of steps to curb volatility (GS-3) RUPEE vs Dollar 72.18 71.75 71.73 (+51p) (-17p)(+26p) IMAGE CREDIT- The Hindu 71.99 (-24p) 72.4 i (-72p) 72.69 (-24p) 5 6 7 10 11 12 TRGRAPHICS Inverted Scale SEP


  5. After touching yet another low in the morning session, the rupee rallied by about 1.5% in afternoon trade on Wednesday following reports that Prime Minister Narendra Modi will meet top policymakers over the weekend to take stock of the situation. The rupee plunged to 72.92 in the morning-which is an all-time low-compared with the previous close of 72.69 a dollar but staged a strong recovery in the afternoon as it touched day's high of 71.92. The currency closed at 72.18 to a dollar, gaining 0.7% over it's previous close. Hike in interest rate The rupee jumped most in three weeks after unnamed government officials said the Prime Minister would review the economic situation this weekend and announce measures to curb the decline in the rupee and also rising oil prices. Among the measures, out-of-turn-hike in interest rate by the RBl is not ruled out.


  6. & "So, finally some affirmative statement from the government that PM might decide on some fiscal and monetary steps in an economic review meeting," said Sajal Gupta, head, forex and rates, Edelweiss Securities. "Post that [news], the rupee appreciated by almost 1.5% from the day's low. This shall cool off the overheated dollar market and now, market shall be eyeing the actual announcement in coming days," he said. Unlike in the past, the interest rates are now decided by a six-member monetary policy committee of the central bank. For deciding on any rate hike, a meeting of the committee would have to be convened. However, the members can meet electronically and it is not binding on the RBI to announce the schedule of the meeting in advance


  7. Economic Affairs Secretary Subhash Chandra Garg said the government and the RBI would do everything to ensure that rupee does not slide to 'unreasonable levels. "No fundamental rationale for [the] rupee to depreciate to levels we saw till yesterday [Tuesday]. It reflected overreaction of market operators. Government and RBI will do everything to ensure that rupee does not slide to unreasonable levels. Today's correction seems to reflect that realisation," he tweeted. The bullish sentiment in the currency market also spread to the bond market as bond prices rallied and the yield on 10-year benchmark government bond softened from a high of 8.23% to end the day at 8.13% compared with the previous close of 8.18


  8. Centre hikes ethanol prices (GS-2/3) The Centre has hiked ethanol prices, with a special incentive for ethanol directly produced from 100% sugarcane juice, in a dual bid to reduce both surplus sugar production and the fuel import bill. The ethanol produced from sugar is blended with petrol. The decision was taken by the Cabinet Committee on Economic Affairs at its meeting on Wednesday. Surplus sugar production has been depressing sugar prices, noted Oil Minister Dharmendra Pradhan at a press briefing to announce the CCEA's decisions. Record production of more than 3l million tonnes this year is far higher than domestic consumption rates of 25 million tonnes. As a result, sugar mills have struggled to pay their dues to cane farmers, and despite various government measures to improve liquidity, the arrears to farmers stand at more than Rs. 13,000 crore. "Paying remunerative prices to ethanol suppliers will help in reduction of cane farmers' arrears, in the process contributing to minimising the difficulty of sugarcane farmers," said Mr. Pradhan


  9. The price of ethanol derived from 100% sugarcane juice is raised from 47.13 to 59. 13.The rate for ethanol produced from B-heavy-or intermediary-molasses has been raised to 52.43 The rate of ethanol produced from C-heavy molasses (which has no sugar left), however, has been marginally reduced to 243.46. By increasing the price difference between ethanol with no sugar left and that of fully made up of sugar to almost 35%, the Centre has given sugar mills a clear incentive to increase ethanol production from sugar. In fact, oil marketing companies have been told to prioritise ethanol from 100% sugarcane juice followed by B-heavy molasses, said a statement The companies will also pay GST and transportation charges, it added. Industry hails decision * Industry lobbyist Indian Sugar Mills Association welcomed the move . "[This] is one of the best steps taken by the Government to achieve the dual objective of encouraging more production of ethanol as well as of reducing some of the surplus sugar. This price will compensate for the loss in revenue from the sugar sacrificed," said Abinash Verma, director general, ISMA.


  10. NATIONAL POLICY ON BIOFUELS Salient Features: 1.The Policy categorises biofuels as "Basic Biofuels" viz. First Generation (1G) bioethanol & biodiesel and "Advanced Biofuels" Second Generation (2G) ethanol, Municipal Solid Waste (MSW) to drop-in fuels, Third Generation (3G) biofuels, bio-CNG etc. to enable extension of appropriate financial and fiscal incentives under each category 2.The Policy expands the scope of raw material for ethanol production by allowing use of Sugarcane Juice, Sugar containing materials like Sugar Beet, Sweet Sorghum, Starch containing materials like Corn, Cassava, Damaged food grains like wheat, broken rice, Rotten Potatoes, unfit for human consumption for ethanol production 3.Farmers are at a risk of not getting appropriate price for their produce during the surplus production phase. Taking this into account, the Policy allows use of surplus food grains for production of ethanol for blending with petrol with the approval of National Biofuel Coordination Committee.