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 […]
GEOGRAPHY OF FARMER SUICIDES
Why in news? Farmer suicides have not increased, New data and research in recent years and may have more complex causes than falling incomes or rising indebtedness. Details The overall farmer suicide rate decreases in India but Maharashtra, Karnataka and Kerala remain suicide hotspots even with doubts about NCRB data The ultimate sign of distress […]
ANTI-PROFITEERING BODY STEPS UP GST COMPLIANCE DRIVE
Why in news? NAA with the Centre stepping up a GST, A wave of orders is expected in the months of February, March and April of 2020, with the Centre stepping up a goods and services tax (GST) compliance drive. Background The National Anti-profiteering Authority (NAA) was established under section 171 of the Central Goods […]
RETAIL INFLATION AT 5 YEAR HIGH IN DECEMBER
Why in news? NSO data : Retail Inflation Retail inflation soared to a five year high of 7.35% in December 2019. NSO: retail inflation based on CPI was only 2.11% in December 2018 and 5.45% in November 2019. More about CPI NSO data : Retail Inflation, The Consumer Price Index (CPI) is a measure that […]
ORDINANCE PROMULGATED FOR AMENDMENT OF MMDR ACT AND CMSP ACT
Why in news? The ordinance for amendment in the MMDR Act 1957 and the CMSP Act 2015 has been promulgated. The Union Cabinet had earlier approved the amendments intending to open up new areas of growth in the coal & mining sector. Details The amendments in the Acts would enable the following: Enhancing the ease […]
SEZ POLICY REVAMPED TO MEET CHALLENGES FACED BY EXPORTERS
Why in news? Commerce and Industry & Railways Minister chaired a meeting 9th January 2020, in New Delhi to review the remaining recommendations of the Baba Kalyani report on Special Economic Zone (SEZ) policy of India. Details Commerce and Industry Minister examined the revamp of the SEZ policy with a view to meeting the global […]