Gold Chain

 Intellectual property has been defined as the creations of human mind which could be incorporated as creative or inventive work like inventions, artistic works,books designs  etc.  The idea of intellectual property rights originated from the realisation that  let individuals reap the exclusive fruit of human intellect  emanating from their knowledge, creativity, expertise, skills, scientific and traditional resources,research and work experience. Original creations of human mind which have economic value  needs to be protected. Trade related intellectual property rights agreement under WTO,  give creators an exclusive right over the use of their creations for a  specified period of time.  These rights are administered and controlled by national legislation within a framework of international law established through negotiations within World Trade Organisation (WTO).WTO in addition to  Trade in intellectual property rights also deals wit...

Growth in Economics refers to increase in production of goods and services. Generally increase in output will generate income and employment depending upon the inputs and the nature of technology utilised in production. The availability of money supply in the economy should synchoronise with total output. Excess of money supply or liquidity is bound to create inflationary pressures. Inflation refers to rise in general price level and decline in the value of currency. Price rise may be due to increase in demand or increase in costs of production or supply constraints. Generally annual inflation rate upto 2% is termed as creeping  inflation, upto 5% as walking inflation followed by running inflation upto 10% and further galloping inflation.  Achieving high economic growth and maintaining price stability simultaneously are difficult tasks.It has been observed that creeping or walking inflation upto 4% acts as a stimulant to carry out economic activities of production consumption ...

 Exchange rate refers to the price of  a country's currency in relation to another country's currency.  In other words it is the external purchasing power of the currency.For instance for Indian rupee in terms of other currencies like the US dollar or  European Euro or Japanese Yen.Under normal circumstances the exchange rate is determined by the forces of demand for and availability or supply of a particular currencies used for trade,  investments and other financial transactions.But since the Russian Ukraine war started and sanctions were imposed by  USA and western countries, along with other currencies like Russian rouble,Turkish Lira value of our currency has also depreciated. Russia is the world's third largest exporter of oil and gas and second largest exporter of crude oil after Saudi Arabia. Russia also supplies 38% of natural gas to Europe. Russian supplies were crucial to Europe especially in the context of OPEC'S unwillingness to step up product...

 In a highly globalized society war or any other crisis in any part of the world is bound to impact other countries depending on their proximity and economic social and political interactions especially trade and financial movements. For the last two years we had a comfortable balance of payment position. Prevailing global situation in terms of rise in prices of commodities, petroleum  and metals and Supply bottlenecks and Russia Ukraine war are impinging BOP in general and Current account in particular  A country's Balance of payment (BOP) is a systematic record of the financial transaction with the rest of the world. Any transaction that causes in money flow into the country is a credit to its BOP account, and any transaction that causes money to flow out is a debit. Generally BOP account is divided into two 1. Current Account and 2.Capital Account. Current Account consists of receipts from export and imports of goods and services  Income flows like profits interes...