Finance Minister and TN on fuel taxes and GST for fuel
Context: Indian Finance Minister took on the Tamil Nadu government or reducing State levies on petroleum products by ₹3 a litre, after an earlier hike of ₹7 a litre (by the previous AIADMK regime), and accused it of being party to the UPA’s “trickery” of lowering fuel prices by issuing oil bonds. Previously, the Finance […]
Centre to soon free up untapped space in SEZs
Context: The government will soon free up unused built-up area worth about ₹30,000 crore and idle land inside Special Economic Zones (SEZs) for other economic activity according to the Commerce Secretary. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Government Policies and Interventions) Dimensions of the Article: Special Economic Zones (SEZ) Special Economic […]
Govt. to completely exit erstwhile PSUs
Context: The government is eyeing a sale of its residual stakes in erstwhile public sector firms like Paradeep Phosphates, Hindustan Zinc and Balco, which were privatised during the Atal Behari Vajpayee regime. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Fiscal Policy, Inclusive growth and issues therein, Budgeting) Dimensions of the Article: What […]
NCLT vacancies pointed out by panel
Context: Parliamentary Standing Committee on Finance has called out the Ministry of Corporate Affairs on persistent vacancies in National Company Law Tribunals (NCLTs) leading to delays in corporate insolvency under the Insolvency and Bankruptcy Code (IBC). Relevance: GS-III: Indian Economy (Capital Market, Statutory Bodies) Dimensions of the Article: NCLT NCLAT Differences between NCLT and NCLAT […]
South Asia’s emerging digital transformation
Context: COVID-19 has forced South Asia to take a quantum leap in digitalisation. The shift to remote work and education has propelled an unprecedented spike in Internet penetration, with even smaller nations such as Nepal recording almost an 11% increase in broadband Internet users. Relevance: GS Paper 3: Indian Economy and issues relating to Planning, […]
RBI holds rates, MPC splits on stance
Context: The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept interest rates on hold for the seventh straight time. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Monetary Policy, Inflation) Dimensions of the Article: About the recent Monetary Policy Committee’s decisions Inflation target hiked by the MPC Back to […]
Taxation Laws (Amendment) Bill, 2021
Context: The government on introduced the Taxation Laws (Amendment) Bill in the Lok Sabha for doing away with the contentious retrospective tax law of 2012. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Fiscal Policy, Taxation), GS-II: Governance (Government Policies and Interventions) Dimensions of the Article: Taxation Laws (Amendment) Bill, 2021 Conclusion Taxation […]
Deposit Insurance & Credit Guarantee Corporation Bill
Context: The Rajya Sabha passed the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill amid opposition uproar. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Banking), GS-II: Governance (Government Policies and Interventions) Dimensions of the Article: Deposit Insurance and Credit Guarantee Corporation (DICGC) Bill, 2021 Deposit Insurance and Credit Guarantee Corporation (DICGC) How […]
Limited Liability Partnership (Amendment) Bill 2021
Context: The Rajya Sabha passed the Limited Liability Partnership (Amendment) Bill 2020 which seeks to amend the Limited Liability Partnership Act of 2008. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Inclusive Growth), GS-II: Governance (Government Interventions and policies) Dimensions of the Article: What is Limited Liability Partnership (LLP)? Limited Liability Partnership (Amendment) […]
How IMF growth forecast will impact monetary policy?
Context: The latest update on the global economy by the International Monetary Fund (IMF) cut India’s GDP growth forecast for 2021-22 (or FY22) by as much as three percentage points. This is set to affect the upcoming monetary policy review by the Monetary Policy Committee of the Reserve Bank of India. Relevance: GS-III: Indian Economy […]