UPSC Economy notes

END OF CHEAP GLOBAL MONEY: IMPACT ON INDIA

The era of cheap global money is ending, triggering foreign capital outflows and Rupee depreciation. However, India's robust macroeconomic fundamentals, domestic market reliance, and recent inclusion in the JPMorgan global bond index provide vital resilience against global liquidity shocks.

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ADVANCE AUTHORISATION SCHEME & NEW GOLD IMPORT RULES EXPLAINED

The Advance Authorisation Scheme allows duty-free imports of essential inputs for export production. Recently, the government capped duty-free gold imports at 100 kg per licence to curb domestic diversion, implementing strict compliance checks, mandatory physical inspections, and prior export obligations.

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ANNUAL SURVEY OF INCORPORATED SERVICES SECTOR ENTERPRISES (ASISSE)

The National Statistical Office (NSO) launched ASISSE to bridge data gaps in the formal services sector using GSTN-backed information. This tech-driven survey enhances GDP calculation precision and evidence-based policy, marking a monumental step toward data-driven governance and modernising the Indian economy.

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