GOVERNMENT’S TOTAL RECEIPTS AT RUPEES 12.82 LAKH CRORES IN APRIL-JANUARY
Focus: GS-III Indian Economy and Economic Development, Prelims Why in news? The government’s total receipts during the April 2019-January 2020 period of the current fiscal stood at Rupees 12.82 lakh crore, while total expenditure for the same period was Rupees 22.68 lakh crore. Tax revenue stood at Rupees 9,98,037 crore, while non-tax revenue stood at […]
SEBI redefines ‘Pledge’ to Protect Client Securities
Why in news? The decision by SEBI to Tweak the manner in which ‘pledge’ is defined in regulatory laws, was approved by the board of the capital markets regulator on 17th February 2020. Significance A minor tweak in the manner ‘pledge’ is defined in the regulatory laws is expected to go a long way in […]
2020 Economic Survey | Chapter- 1 | Wealth Creation: The Invisible Hand Supported by the Hand of Trust
India’s dominance as global economic power for three-fourths of economic history manifests by design. Kautilya’s Arthashastra postulates the role of prices in an economy (Spengler, 1971). Historically, Indian economy relied on the invisible hand of the market with the support of the hand of trust: Invisible hand of the market reflected in openness in […]
Highlights of the Budget 2020
What is Union Budget? According to Article 112 of the Indian Constitution, the Union Budget of a year, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for that particular year. Theme 1: ASPIRATIONAL INDIA Agriculture Sector • Budget is aimed at doubling farmer […]
ESTIMATES OF AREA AND PRODUCTION OF VARIOUS HORTICULTURE CROPS
Why in news? Department of Agriculture, Cooperation and Farmers Welfare has released the Final Estimates of 2018-19 and 1st Advance Estimates of 2019-20 of Area and Production of various Horticulture Crops. Highlights of 2018-19 (Final) and 2019-20 (1st Advance Estimates) The Final Estimates of 2018-19 , Total Horticulture Production of the country is estimated to […]
FINANCE COMMISSION GETS PRESENTATION FROM IMF ON RESOURCE MOBILIZATION FOR THE NEXT FIVE YEARS
Details International Monetary Fund (IMF), Fiscal Affairs Department, gave a presentation to the 15th Finance Commission on “resource mobilization over the next five years” The discussions were centered around options for improving the tax resources of the general government, with special focus on improving the revenue realization from the GST Current collections are significantly below […]
THE PERILS OF RBI’S FIXATION ON INFLATION
Importance of banks It was recognised that when private commercial banks fail, whether due to malfeasance or misjudgment, they not only harm their trusting depositors, they can also take down with them the rest of the financial System. This gave rise to the RBI, the regulating authority for banks. With the rise of neoliberalism, the […]
ADJUSTED GROSS REVENUE
Why in news? The Supreme Court has upheld the definition of Adjusted Gross Revenue (AGR) calculation as stipulated by the Department of Telecommunications Background about telecom sector The telecom sector was liberalized under the National Telecom Policy, 1994 after which licenses were issued to companies in return for a fixed license fee. To provide relief […]
INDIA AND WORLD TRADE ORGANISATION, RAISINA DIALOGUES
Focus: Mains- GS3-Economy, GS2- International organizations, Governance Why in news? The Minister of commerce and industry put forward his view at Raisina dialogues in relation with World Trade Organisation (WTO) Major Points of dialogue: India believes in Multilateralism and Strengthening World Trade Organisation WTO India has been at the receiving end of unfair trade practices […]
INFLATION SHOCKER
Why in news? There was an astronomical rise of CPI to 7.35% in December 2018. This has opened doors for Indian economy to enter a phase of stagflation. What is stagflation? Stagflation is a condition of slow economic growth and relatively high unemployment, or economic stagnation, accompanied by rising prices, or inflation. It can also […]