Budget 2024: A Blueprint for Long-Term Growth
Context: In a crucial move to bolster India’s economic strength, the Union Budget for the fiscal year 2024-25 has taken major steps to ensure the continuity of progressive reforms. There is excitement in the MSME, E-commerce, and start-up sectors, which have received additional support as the nation advances toward the goal of a Viksit Bharat. Relevance: Mains […]
MEA’s Development Assistance Plans in Union Budget 2024-25
Context: In the recently announced Union Budget 2024-25, the Ministry of External Affairs (MEA) has outlined its development assistance plans, focusing on strategic partners and neighbouring countries. This initiative aims to promote regional connectivity, cooperation, and stability in line with India’s Neighbourhood First Policy. Relevance: GS III: Indian Economy Dimensions of the Article: Distribution of […]
About The Angel Tax
Context: Recently, the Union Minister for Finance proposed to abolish ‘angel tax’ for all classes of investors, while presenting the Union Budget 2024-25 in Parliament. Relevance: GS III: Indian Economy Angel Tax Definition: Legal Basis: Tax Rate: Exemption for Startups (2019): Investor Conditions: Purpose: -Source: The Hindu
About The Skill Loan Scheme
Context: The finance minister recently announced a revision to the model skill loan scheme, which will now facilitate loans up to Rs 7.5 lakh backed by a guarantee from a government-promoted fund. Relevance: GS III: Indian Economy Dimensions of the Article: Skill Loan Scheme Introduction: Eligibility: Features: Credit Guarantee Fund: Key Points: -Source: Business Standards
Surge in Domestic Patent Applications in FY24
Context: For the first time, domestic patent applications in FY24 have exceeded those from foreign applicants, driven by a surge in fields such as computer science, IT, pharmaceuticals, and chemicals. However, foreign entities still hold a significant share of the patents awarded in India, accounting for nearly two-thirds of all approved applications. Relevance: GS III: […]
Need for bolstering MSMEs
Context: Recently, Union Minister for MSMEs said six pillars were identified as focus areas for the growth of the MSME sector namely Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Mobilization of Resources) Dimensions of the Article: Understanding MSMEs in India Pointers about MSMEs in India Measures that can give some hope to […]
The Problem of Food Inflation
Context: India has been witnessing a continued growth in the GDP, but the core inflation seems set on a downward trajectory. The food inflation has stayed stubbornly elevated, restricting the fall in the consumer price index (CPI). Relevance: GS III: Indian Economy Dimensions of the Article: Calculation of Food Inflation in India: Factors Contributing to […]
Primary Agricultural Credit Societies (PACS)
Context: Union Minister of Home Affairs and Cooperation Amit Shah urged stakeholders in cooperative societies to support the establishment of primary agricultural credit societies (PACS) in all villages and blocks of the country. Relevance: GS III- Indian Economy Dimensions of the Article: Summary of the recent announcements regarding cooperatives by Union Minister of Home Affairs […]
What is a Windfall Tax?
Context: Recently, the Indian government has increased the windfall tax on domestically produced crude oil from Rs 3,250 per tonne to Rs 6,000 per tonne. Relevance: GS III: Indian Economy Dimensions of the Article: What is a windfall tax? Why are countries levying windfall taxes now? What are the issues with imposing such taxes? Brew uncertainty in the market about future […]
Navigating Farmer Discontent Amid Unfulfilled Promises
Context: Agriculture has long been a fundamental part of India’s economy and societal framework. Despite its importance, the sector has experienced a strained relationship with the central Government in recent years. Approximately 65 percent of India’s population resides in rural areas, with 47 percent dependent on agriculture. Relevance: GS3- Mains Question: As the government embarks […]