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ED scores over citizen's fundamental rights in Supreme Court ruling on Money Laundering Act
The Supreme Court verdict on the Prevention of Money Laundering Act (PMLA) lends more power to the ED and infringes on an individual’s fundamental rights
Retail inflation prints at 6.71% in July, declining for the third straight month
The drop in inflation in July is primarily attributed to easing global commodity prices given the looming recession fears. The international crude oil prices are down about 9% this month and below 100 dollars a barrel, hitting pre-Ukraine crisis lows. The fuel tax cut announced by the government has contributed to lower fuel price-based inflation. Restrictions on wheat exports and lower import duties have contributed to easing the pressure on food items.
Wholesale Inflation
It measures the changes in the wholesale price of basket of 697 goods. The quantum of rise in the WPI month-after-month is used to measure the level of wholesale inflation in the economy.
Retail Inflation
It is a general rise in consumer price levels where a unit of currency effectively buys lesser goods and services. More commonly, people refer to inflation as "the rising cost of living".
Imports
Imports are foreign goods and services bought by citizens, businesses, and the government of another country.
Exports
An export in international trade is a good or service produced in one country that is sold into another country.
Index of Industrial Production (IIP)
The all India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period.
Index Of Infrastructure Output
A combined index that measures the production performance of Eight Core Industries: refinery, electricity, steel, coal, crude oil, natural gas, cement and fertilizers.
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Tweet of the day
The BJP government admitted in Parliament today that since 2014, while 22 crore youth applied for jobs, the Central govt. was able to provide only 7.22 lakh jobs. #unemployment #TalkingPoint pic.twitter.com/QCudxeuQyr
— The Mirrority (@TheMirrority) July 28, 2022
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