Economy & Banking Current Affairs

Business, Economy and Banking in Current Affairs 2019 with latest news and current affairs in Agriculture, Industry, Banking, Capital Markets, Import and Export and Government schemes in commercial sector.

“Unbreakable”: The autobiography of Mary Kom unveiled

Screenshot_3Mary Kom, the legendary boxer from North East wrote her autobiography titled “Unbreakable”. The book was inaugurated by Bollywood Megastar Amitabh Bachchan at Mumbai. Mary decided to pen down her life’s battles, so that she could inspire and motivate others to never loose hope and fight for their dream. The autobiography details her rise to the top from a modest background; the book beautifully brings out her long lasting spirit and is an inspirational story for everyone, especially for women.

About Mary Kom
  • Five-time World Boxing champion, and the only woman boxer to have won a medal in each one of the six world championships.
  • First Indian women boxer to qualify and win a bronze medal at the London Olympics in the flyweight (51 kg) category.
  • Won lots of awards like Padma Bhushan (2013), Rajiv Gandhi Khel Ratna award (2009), Padma Shree (2006), Arjuna Award (2003), etc.
  • Appointed the International Boxing Association’s Ambassador for Women’s Boxing in 2009.

India’s trade deficit with China nears record $30 b

As per the data released by the China’s General Administration of Customs, India’s trade deficit with China after 11 months of this year has reached a record $29.5 billion, exceeding 2012’s annual figure. Towards the end of 2013, India’s exports to China reached only $14.87 billion out of total bilateral trade of $59.24 billion.

The numbers underline the sharp decline in once-burgeoning trade, which reached $74 billion in 2011 when China became India’s biggest trading partner.

In 2012, India’s the trade deficit with China registered a 10% decline to reach 66.50 billion dollar, even as both the countries announced an ambitious 100 billion trade target to be achieved by 2015. The decline was partly the result of 20% slump in India’s exports, largely on account of iron ore mining bans by China and partly on account of global slowdown.

What is Trade deficit?

An economic measure of a negative balance of trade in which a country’s imports exceeds its exports. A trade deficit represents an outflow of domestic currency to foreign markets.