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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.
GDP
Gross domestic product (GDP) is the monetary or market value of all the final goods and services produced within a country in a specific time period.
Intellectual Property Rights (IPR)
Contains the summary of patents, designs, trademarks and copyrights applied for and registered in India.
Index of Economic Freedom
An annual index and ranking created by The Heritage Foundation and The Wall Street Journal to measure the degree of economic freedom in the world's nations.
Final Consumption Expenditure
It is the expenditure on goods and services that are used for the direct satisfaction of individual needs (individual consumption) or collective needs of members of the community (collective consumption).
Current Account
A nation's current account records its transactions with the rest of the world - specifically its net trade in goods and services, net earnings on cross-border investments, and its net transfer payments over a defined period.
Consumer Confidence
It is an economic indicator that measures the degree of optimism or pessimism that consumers feel about the overall state of the economy and their personal financial situation.
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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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