Decriminalisation of Offences Under GST
Context: Recently, The 48th GST Council meeting was chaired by Finance Minister recommended to decriminalise certain offences under Section 132 of the Central Goods and Services Tax (CGST) Act, 2017. Relevance: GS III: Indian Economy Dimensions of the Article: GST Council Matters on which GST Council makes recommendations What was previously criminalised under GST? Tax […]
Open Network for Digital Commerce
Focus: GS III- Indian Economy Why in News? Open Network for Digital Commerce (ONDC) will charge a “small fee” from platforms that will contribute towards “maintenance and development” of the network. About Open Network for Digital Commerce (ONDC) project The main aims of ONDC are to: Department for Promotion of Industry and Internal Trade (DPIIT) What is […]
Sovereign Gold Bond Scheme
Focus: GS II- Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Why in News? Recently the Finance Ministry said that the Sovereign Gold Bonds (SGBs) 2022-23-Series III will open for subscription during the December 19-December 23 period and the 2022-23-Series IV during March 06-10, 2023. About Sovereign Gold Bond Scheme […]
Geographical Indication (GI) Tag
Context: Recently, Total number of Registered Geographical Indications (GI) rise to 432 Relevance: GS III: Indian Economy Dimensions of the Article: Details: About GI Tag -Source: The Hindu
Pradhan Mantri National Apprenticeship Melas
Focus: GS III- Growth and Development Why in News? As a part of Prime Minister vision to boost career opportunities for India’s youth under Skill India Mission, the Ministry of Skill Development and Entrepreneurship (MSDE) will hold the Pradhan Mantri National Apprenticeship Mela (PMNAM) on December 12th, 2022, across 197 locations in 25 states and […]
Sustained Growth in Remittances
Context: Remittances to India are set to touch a record $100 billion in 2022, according to the World Bank’s latest Migration and Development Brief titled, ‘Remittances Brave Global Headwinds’. India received $89.4 billion in 2021 — this is the first time a country will reach the $100 billion mark. Relevance: GS III: Indian Economy Dimensions […]
RBI Hikes Key Interest Rate By 35 BPS
Context: Signalling a further rise in lending and deposit rates, the Monetary Policy Committee (MPC) of the Reserve Bank of India on Wednesday (December 7) hiked the key policy rate, the repo rate or the rate at which the RBI lends funds to banks, by 35 basis points to 6.25 per cent in a bid […]
About RoDTEP scheme
Focus: GS III- Indian Economy Why in News? Taking a major step to boost exports, Centre further expanded the scope of RoDTEP Scheme (Remission of Duties and Taxes on Exported Products) by including the exports made from the Chemical sector, Pharmaceuticals sector and exports of articles of iron & steel About RoDTEP scheme: Need for the RoDTEP […]
First Loss Default Guarantee (FLDG) system
Context: Two months after the RBI issued guidelines on digital lending, banks, NBFCs and fintech players are still awaiting clarity on many aspects, including the First Loss Default Guarantee (FLDG) system. Relevance: GS III: Indian Economy Dimensions of the Article: What is FLDG System? Issues with FLDGs -Source: The Hindu
UPI Market Cap Deadline
Context: The National Payments Corporation of India (NPCI) has extended by two years the deadline to comply with its 30 per cent cap on the market share of platforms operating on the Unified Payments Interface (UPI). Relevance: GS III: Indian Economy Dimensions of the Article: What is Unified Payments Interface (UPI)? Why did NPCI extend […]