Council may bring petrol and diesel under GST
Context: The GST Council might consider taxing petrol, diesel and other petroleum products under the single national GST regime in the upcoming meeting in Lucknow, a move that may require huge compromises by both central and state governments on the taxing these products. Relevance: GS-III: Indian Economy (Economic Development of India, Macroeconomics- Taxation) Dimensions of […]
FSDC discusses IBC, stressed assets, financial inclusion
Context: The Financial Stability and Development Council (FSDC) discussed measures to manage stressed assets and noted the need to keep a continuous vigil by the government and all regulators on the financial conditions. Relevance: GS-III: Indian Economy Dimensions of the Article: About Financial Stability and Development Council (FSDC) Composition of the council Responsibilities of the […]
Report by ADB on businesses in Asia and the Pacific 2021
Context: A report by the Asian Development Bank (ADB), titled Key Indicators for Asia and the Pacific 2021 demonstrated that the region made substantial progress in the last two decades with respect to several development targets. Relevance: GS-III: Indian Economy (Employment, Human Resource, Important International Institutions) Dimensions of the Article: Highlights of the ADB report […]
FM launches EASE 4.0, reviews performance of PSBs
Context: Finance Minister Nirmala Sitharaman undertook the annual performance review of the public sector banks (PSBs) and launched the EASE 4.0 or Enhanced Access and Service Excellence – a common reform agenda for PSBs aimed at institutionalising clean and smart banking. Relevance: GS-III: Indian Economy (Banking Sector) Dimensions of the Article: What is Enhanced Access […]
UCBs: RBI panel for four-tier structure
Context: The Reserve Bank of India’s (RBI’s) expert committee on urban co-operative banks (UCBs) has suggested a four-tiered structure to regulate them, based on size of deposits. Relevance: GS-III: Indian Economy (Banking Sector and NBFCs) Dimensions of the Article: Cooperative Banks Urban Cooperative Banks (UCB) Problems with Cooperative Banking in India Recommendations of the RBI […]
The Indian economy is struggling to recover
Context: The International Monetary Fund (IMF)’s latest update of the World Economic Outlook report, though projected a global economic expansion of around 6%, had warned of a widening variance in the global recovery process in the aftermath of the pandemic. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Dimensions of the Article: Grim […]
Govt unveils Rs. 6L-crore monetisation scheme
Context: The government will raise ₹88,000 crore this year by leasing infrastructure assets of central government ministries and state-run companies under a ₹6 trillion National Monetisation Pipeline (NMP) it unveiled recently. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Industrial Development, Government Policies and Initiatives) Dimensions of the Article: About the National Monetisation […]
Ubharte Sitaare fund
Context: Union Finance Minister Nirmala Sitharaman is set to launch a Rs 250 crore worth alternate investment fund (AIF) on August 2021 for small and mid-sized export-oriented companies. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Industrial Development, Government Policies and Initiatives) Dimensions of the Article: “Ubharte Sitaare”: Alternate Investment Fund Other Initiatives […]
RBI, IRDAI nod must for FDI in bank-led insurance
Context: Applications for foreign direct investment in an insurance company promoted by a private bank would be cleared by the RBI and IRDAI to ensure that the 74% limit of overseas investment is not breached. Relevance: GS-III: Indian Economy (Economic Development in India, Government Initiatives to overcome Challenges in Economic Development) Dimensions of the Article: […]
Are oil bonds to blame for high fuel prices?
Context: The Centre has argued that it cannot reduce taxes on petrol and diesel as it has to bear the burden of payments in lieu of oil bonds issued by the previous UPA government to subsidize fuel prices. Relevance: GS-III: Indian Economy (Mobilisation of Resources, Growth & Development of Indian Economy, Taxation) Dimensions of the […]