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The gig economy refers to a labor market characterized by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs. Gig economy workers are typically engaged as independent contractors and are not entitled to the benefits that traditional employees receive. Examples of Gig Economy 1. Ride-Hailing: Companies like Uber and Ola provide … Read more
What is the difference between repo rate, reverse repo rate, and MSF? The Reserve Bank of India (RBI) possesses numerous monetary policy tools that influence interest rates. Repo rate, reverse repo rate, and MSF are quantitative instruments that the central bank employs to influence the money supply in the economy. Repo rate, commonly referred to … Read more
The nation’s basic infrastructural facilities serve as the building blocks for growth. The economy functions below ideal levels and continues to lag behind its potential and trajectory of frontier growth in the absence of suitable infrastructure. Infrastructure spending is necessary for more rapid and inclusive economic growth 1) Construction of infrastructure, such as roads, buildings, … Read more
•K-shaped recovery occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes. •V-shaped recovery, an economy that has suffered a sharp economic decline experiences a fast and strong rebound •W-shaped recovery, which is also called a “double dip”, means the economy picks up only to fall again and … Read more
Nidhi refers to any mutual benefit society notified by the Central Govt as a Nidhi Company. They are created mainly for cultivating the habit of thrift and savings amongst its members. •The companies doing Nidhi business (borrowing from members and lending to members only), are known under different names such as Nidhi, Permanent Fund, Benefit … Read more
Logistics Performance Index (LPI) is released by World Bank as part of its report every two years based on a world-wide survey of stakeholders. LPI index measures countries across 6 components: (i) Customs, (ii) Quality of trade and transport related infrastructure, (iii) Ease of arranging competitively priced shipments, (iv) Logistics quality and competence, (v) Tracking … Read more
Ever-greening loans – It is lending a new loan to a borrower on the verge of default, near the repayment date of an existing loan, to facilitate its repayment. Fiscal Deficit – Reflective of the total borrowing requirements of the Government. GDP – An economy’s annual GDP is the total money value of all final … Read more
GDP is defined as a measure that expresses the economic value of a country’s economic activities. In other words, it is the market value of all the goods and services produced within an economy in a particular period. The National Statistical Office calculates the GDP figures (NSO). In 2015, a new series was launched to … Read more