SC ON JOINT PLEA: MORATORIUM INTEREST WAIVER
Focus: GS-III Indian Economy Why in news? Petitions were filed before the SC regarding the waiver of interest rates accrues during the 6 month period offered by RBI due to COVID 19. The Court asked the RBI and the Finance ministry to respond regarding the same. Two main issues: the first was whether interest should […]
PERIODIC LABOUR FORCE SURVEY (PLFS) – ANNUAL REPORT 2018-19
Focus: GS-III Indian Economy Why in news? Periodic Labour Force Survey (PLFS) – Annual Report July, 2018 – June, 2019 and the Quarterly Report on PLFS, ending June 2019, is released by the National Statistical Office (NSO) on 4th June 2020. This is the second Annual Report being brought out by NSO on the basis […]
INDIA-CHINA TRADE AMID PANDEMIC
Focus: GS-III Indian Economy Why in news? In May 2020, India mandated government approval for foreign direct investment (FDI) from countries with which it shares land borders. The curbs aimed to shield Indian companies from predatory investments, particularly those from China—a big hint that policymakers in New Delhi have become ever more cautious of Beijing’s […]
THREE ORDINANCES TO BOOST FARM INCOME, ATTRACT INVESTORS
Focus: GS-III Indian Economy Why in news? Formalising its plan to unlock the growth potential of farm incomes by allowing unrestricted sale of produce, the Centre on 3rd June 2020, approved three major legislative reforms through ordinances intended to create “one India, one agriculture market” while attracting private investments in a sector crippled by varying […]
IMPLEMENTING NEW NORMS OF CLASSIFICATION OF MSMES
Focus: GS-III Indian Economy Why in news? Implementation of the revised definition and criteria of MSMEs in the country will come into effect from 1st July, 2020. Background to the Revision of Definition The existing criterion of definition of MSMEs is based on the MSMED Act, 2006. It was different for manufacturing and services units. […]
EGOs AND PDCs FOR ATTRACTING INVESTMENTS IN INDIA
Focus: GS-III Indian Economy Why in news? The Union Cabinet has given its approval for setting up of an “Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs) in Ministries/Departments of Government of Indiafor attracting investments in India”. Details Government is determined to put in place an investment friendly ecosystem that strongly supports the […]
ELECTRONICS INCENTIVE SCHEMES LAUNCHED
Focus: GS-III Indian Economy Why in news? Telecom and IT Minister launched three incentive schemes with a total outlay of about ₹48,000 crore to boost large-scale manufacturing of electronics in the country, on 2nd June 2020. The Three Incentive Schemes to boost Manufacturing of Electronics The Three Schemes that were approved by the Union Cabinet […]
CHAMPIONS TECHNOLOGY PLATFORM TO EMPOWER MSMEs
Focus: GS-III Indian Economy Why in news? Indian Prime Minister Launched the technology platform CHAMPIONS which stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. About CHAMPIONS The portal is basically for making the smaller units big by solving their grievances, encouraging, supporting, helping and handholding. It is […]
OTHER OPTIONS TO LOOK AT AS RBI STOPS 7.75% BONDS
Focus: GS-III Indian Economy Why in news? The Reserve Bank of India (RBI) released a notification last week announcing it was stopping the government of India 7.75% (taxable) bonds, known as the RBI 7.75% bonds. Why were the7.75% bonds stopped? A surge in demand in this relatively high interest rate instrument due to rate cuts […]
CORPORATE TAX CUT A BAD GAMBLE
Focus: GS-III Indian Economy What leads up to Corporate Tax cuts? The Indian economy had been caught in a slowdown even before the pandemic hit. This made the case for a fiscal push even stronger. India’s revenue projection and collection abilities are facing an unprecedented crisis. Gross tax collections in 2019-20 were less than those […]