Predatory Pricing: is a short-term strategy, adopted by some of the market giants with deep pockets to sustain short-term losses and reduce the prices of their products below the average variable costs. This may lead to wiping out competition from the market and could be detrimental to the consumers in the long run.
SAARC currency swap agreement: The SAARC currency swap facility came into operation on 15th November, 2012. Under the revised framework, The RBI will continue to offer a swap arrangement within the overall corpus of USD 2 billion. The swap drawals can be made in US dollar, euro or Indian rupee. The framework provides certain concessions for swap drawals in Indian rupee. The facility will be available to all SAARC member countries, subject to their signing the bilateral swap agreements. The framework is valid from 14th November, 2019 to 13th November, 2022.
Oxfam Report: Oxfam International is a group of independent non-governmental organisations formed in 1995. The income of 84 percent of households in the country declined in 2021, but at the same time, the number of Indian billionaires grew from 102 to 142. The Oxfam report, “Inequality Kills’’, also found that as Covid continued to ravage India, the country’s healthcare budget saw a 10% decline from RE (revised estimates) of 2020-21. There was a 6% cut in allocation for education, the Oxfam report says, while the budgetary allocation for social security schemes declined from 1.5% of the total Union budget to 0.6%.
Chipko Movement: The name of the Chipko movement originated from the word ’embrace’ as the villagers used to hug the trees and protect them. It is a social-ecological movement that practiced the Gandhian methods of Satyagraha and nonviolent resistance, through the act of hugging trees to protect them from falling. This movement headed by Shri Sunderlal Bahaguna in the Himalayas not only successfully resisted deforestation in several areas but also showed that community afforestation with indigenous species can be enormously successful. The modern Chipko movement started in the early 1970s in the Garhwal Himalayas of Uttarakhand, with growing awareness towards rapid deforestation.
Global Gender Gap Report 2021: The World Economic Forum (WEF) has released the Global Gender Gap Report 2021. India has ranked 140 among 156 countries in Global Gender Gap Index 2021, which is 28 spots lower than its 2020 ranking. There are four dimensions based on which the Global Gender Index evaluates the performance of the countries: Economic Participation & Opportunity, Education Attainment, Health and Survival, Political Empowerment.