The Things You Should Know

What is Multi brand Retail : Multi brand retail means selling similar products of multiple brands under one roof. For example DMart or Big Bazzar sells same products like soaps, shampoos, t-shirts of multiple brands under one roof. Whereas Adidas or Nike is an example of 'Single Brand Retail'. It sells products of its own brand only for example Nike t-shirts, Nike shoes etc. FDI in Multi Brand Retail in India:  The UPA-1 wanted to allow 51% FDI in multi brand retail, but it wasn't allowed by the Left parties and the BJP. In the UPA-1 government Congress party had only 145 MPs in the Lok Sabha. Left had 60 MPs and it was part of UPA alliance. Hence Congress was not able to allow FDI in multi brand retail without the support of Left parties.  Scenario changed little bit in favour of Congress in UPA-2. Congress had 209 MPs in 15th Lok Sabha. Hence Congress tried to implement its FDI reform more rigorously during UPA-2. Opposition was still there from BJP and other opposi...

On Tuesday 4th October 2016, The Governor of Reserve Bank of India Mr Urjit Patel announced his first monetary policy in Mumbai. This is the fourth Bi-Monthly monetary policy of financial year 2016-17.  Monetary Policy Committee(MPC):   On June 27, 2016, the Government amended the RBI Act to hand over the job of monetary policy-making in India to a newly constituted Monetary Policy Committee (MPC). MPC is a six member committee. This committee has three members from RBI - Governor, deputy Governor and one other official and three independent members selected by the government. The MPC will meet four times a year to decide on monetary policy by a majority vote. And if there’s a tie, the RBI governor gets the deciding vote. Members of MPC: Urjit Patel - Governor of RBI R Gandhi - Deputy Governor of RBI Michael Patra - Executive Director Chetan Ghate - A ssociate professor of Planning Unit at Indian Statistical Institute Delhi  Pami Dua - Director at Delhi sch...

The Union Cabinet has decided to advance the Union Budget from February to January. The reason behind is to approve the budget constitutionally by the Parliament and get assent by the President of India and allocate at different tires disseminated to budget holders before the financial year begins on April 1st.This process will eliminate the current 'vote on account' procedure, require to withdraw the amount from the consolidated fund of India to carry out normal activities after 31st March till the Appropriation bill becomes Appropriation Act. Advancing the budget date will allow the government to release fund by April. The Finance Ministry has proposed that the budget presentation be fixed for 1st February and entire exercise be completed till March 24.  It wanted the Budget Session of Parliament to begin before January 25 and go in for a three-week break between February 10 and 15 before reconvening between March 10 and 15 to complete the legislative exercise.  But wit...