Sukritam Civil Services Mentorship Channel

2021-12-23 09:33:09 Bills Passed in Winter Session of the Parliament Open / Comment

2021-12-22 17:18:43 https://meet.google.com/mki-mmeo-vdv Open / Comment

2021-12-22 15:13:23 Daily CA coverage.
Join the class at 8 for deeper coverage of the Newspaper aspects and Editorials. Open / Comment

2021-12-21 19:28:01 World Inequality Report

Published by The World Inequality Lab at the Paris School of Economics.

It provides estimates of global income and wealth inequality based on the most recent findings compiled by the World Inequality Database (WID).

Most unequal region is MENA (Middle East and North Africa).

Europe has the lowest inequality levels.

Nations have become richer, but governments have become poor.

Wealth inequalities have increased at the very top of the distribution.

The top 1% took 38% of all additional wealth accumulated since the mid-1990s, whereas the bottom 50% captured just 2% of it.

India is among the most unequal countries in the world, with rising poverty and an ‘affluent elite.’

The top 10% and top 1% in India hold 57% and 22% of the total national income respectively while the bottom 50% share has gone down to 13%.

The average national income of the Indian adult population is Rs 2,04,200.

The share of female labour income share in India is equal to 18% which is significantly lower than the average in Asia (21%, excluding China) & is among the lowest in the world. Open / Comment

2021-12-21 19:15:06 Fatehpur Sikri

Fatehpur Sikri is a city in the Agra District of Uttar Pradesh. Previously name of city was Vijaypur Sikari (Sikarwar Rajput clan) later the city was established in 1569 by the Emperor Akbar.

Akbar gave it the name of Fathabad and which in later days known as “Fathpur Sikri”

Agra served as the capital of the Mughal Empire from 1571 to 1585. After his military victories over Chittor and Ranthambore, Akbar decided to transfered his capital from Agra to a new location the Sikri ridge, to honour the Sufi saint Salim Chishti.

Babur visited this place on the eve of the Khanwah battle in A.D. 1527 and named it ‘Sikri’ in his Memoirs. He founded here a garden and a Jal-Mahal surrounded by the lake-water and a baoli (step-well) to commemorate his victory in the battle of Khanwah.

Sikri was the first planned city of the Mughals.

The city (Sikri) has some various buildings such as Jami masjid, Ibadat Khana(House of worship) Buland-Darwazah(in the memory of Gujarat victory) and tomb of Sheikh Salim Chishti; Khass Mahal, Shahi-Bazar, Mina-Bazar, the Panch-Mahal, Khwabgah, Diwan-i-Khass, Anup-Talao, Chaupar and Diwan-i-Am and Birbal's House.

Just because of easy availability of sandstone in the neighbouring areas of Fatehpur Sikri, red stone is used in all the buildings made here.

Fatehpur Sikri set up on rocky ridge, 3 kilometres in length and 1 km wide and palace city is surrounded by a 6 km) wall on three sides with the fourth bordered by a lake.

Its architects were Tuhir Das and Dhruv Chawla. It was constructed using Indian principles. Open / Comment

2021-12-21 19:13:21 Why RBI has kept repo rates unchanged

For the eighth time in a row, the Reserve Bank of India's Monetary Policy Committee (MPC) maintained key policy rates steady.

It was Decided to ""Continue with the accommodative policy as long as required to recover and sustain growth on a long-term basis and continue to offset the impact of COVID-19 on the economy, ""while ensuring that inflation remains within the goal moving ahead.

● Current statistics

The repo rate is the rate at which the RBI loans money to banks; it is currently at 4%.

The reverse repo rate is the rate at which the RBI borrows money from banks, and it is currently at 3.35 %.

The bank rate, currently 4.25 %, is the rate at which the RBI loans short-term cash to banks without security.

Marginal standing facility kept at 4.25%

● What is the MPC assessment on growth and inflation

The MPC has retained the growth target at 9.5% for FY2022.

India's economy expanded 8.4% in the September quarter from a year earlier.

The RBI also retained retail or consumer price inflation projection at 5.3% in 2021 -22.

● Monetary Policy Committee (MPC)

Chairman(Ex-officio): Governor of the Reserve Bank of India.

Member (ex offlcio): Deputy Governor of the Reserve Bank of India, in charge of Monetary Policy.

Member (ex offlcio): One officer of the Reserve Bank of India to be nominated by the Central Board.

Member: Shashanka Bhide, Senior advisor at National Council for Applied Economic Research (NCAER).

Member: Ashima Goyal, Professor at the Indira Gandhi Institute of Development Research in Mumbai.

Member: Jayanth Varma, Professor, Indian Institute of Management, Ahmedabad.

● What if Rates are decreased

It results in expansionary monetary policy.

This is a monetary policy aimed at increasing the money supply in the economy via lowering interest rates, central banks purchasing government securities, and banks' reserve requirements.

An expansionary monetary policy reduces unemployment and boosts business and consumer expenditure.

The purpose of expansionary monetary policy is to promote economic growth. However, it is possible that it will result in increased inflation.

● What if Rates are increased

It results in contractionary monetary policy.

Goal is to reduce (decrease) the money supply in an economy. Increases in key interest rates, which reduce market liquidity, are used to achieve a contractionary monetary policy.

The purpose of a contractionary monetary policy is to reduce the economy's money supply.

Raising interest rates, selling government bonds, and boosting bank reserve requirements are all options.

When the government tries to keep inflation under control, it uses a contractionary strategy.

● View of RBI Governor

Overall, the recovery that had been interrupted by the second wave of the pandemic is regaining traction, but it is not yet strong enough to be self-sustaining and durable.

This underscores the vital importance of continued policy support.

Downside risks to the outlook have risen with the emergence of Omicron and renewed surges of COVID-19 infections in a number of countries.

SOURCE - INDIAN EXPRESS Open / Comment

2021-12-21 16:58:56 The CA The Hindu Coverage class starts at 8 Pm by Sukritam Open / Comment

2021-12-21 16:58:43 https://meet.google.com/rid-ymgp-zmd Open / Comment

2021-12-21 12:59:35 Open / Comment