Current Weekly Status: This approach records only those persons as unemployed who did not have gainful work even for an hour on any day of the week preceding the date of survey.
Tight Money Policy: A Tight Money Policy or contractionary monetary policy is focused on contracting (decreasing) the money supply in an economy. A contractionary monetary policy is implemented by increasing key interest rates thus reducing market liquidity (money supply). Low market liquidity usually negatively affect production and consumption. This may also have a negative effect on economic growth. When RBI adopt a contractionary monetary policy, the central bank increase Policy Rates (Interest Rates) like Repo, Reverse Repo, MSF, Bank Rate, Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) etc. RBi can also sell government securities from the market as part of Open Market Operations (OMO) – taking out liquidity from the market.
Urban Heat Island: An Urban Heat Island (UHI) is that part of an urban or a metropolitan area that is marked by remarkably high temperature as compared to its rural counterpart due to excessive human activity. The difference in temperature is noticed usually during the night and when winds are weak. The UHI is noticed when both the summer and winter seasons are at their peak. The term heat island is also used. Generally, such terms are used to denote any area that has high temperatures compared to the surrounding area, but it usually refers to those areas which have a high level of human activity.
Asian Infrastructure Investment Bank: It is a multilateral development bank with a mission to improve social and economic outcomes in Asia.It aims to connect people, services and markets that over time will impact the lives of billions and build a better future by investing in sustainable infrastructure and other productive sectors. It is headquartered in Beijing (China) and began its operations in January 2016. The AIIB has approved more loans for India than any other member of the bank. China is its biggest shareholder and India is the second-largest. It has more than 100 member countries including countries outside from Asia. Former RBI governor Urjit Patel has been appointed vice-president of the Beijing-based Asian Infrastructure Investment Bank (AIIB).
EWS: It is for economic reservation in jobs and admissions in education institutes for Economically Weaker Sections (EWS). The 10% EWS quota was introduced under the 103rd Constitution (Amendment) Act, 2019 by amending Articles 15 and 16. It was enacted to promote the welfare of the poor not covered by the 50% reservation policy for Scheduled Castes (SCs), Scheduled Tribes (STs) and Socially and Educationally Backward Classes (SEBC). It enables both Centre and the states to provide reservation to the EWS of society.