Remission of Duties and Taxes on Exported Products Scheme
Context: The government is setting up a system to verify that only taxes paid on materials used (input duties) are refunded under the RoDTEP scheme. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Taxation) Dimensions of the Article: Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme Features of RoDTEP Scheme RoDTEP Benefits
Declining Household Savings Sparks Debate in India
Context: The recent decline in household savings, driven by a significant reduction in net financial savings, has become a central topic of debate in India. Relevance: GS III: Indian Economy Dimensions of the Article: Interpreting Lower Financial Savings Net Financial Savings of Household: Gross Financial Savings: Household Borrowing: Factors Reducing Household Net Financial Savings: Implication […]
India’s Pulses Imports Surge 84% in FY 2024
Context: India’s imports of pulses surged by 84% in fiscal 2024, reaching a six-year high. This significant increase is attributed to lower domestic production and the government’s decision to waive import duties on red lentils and yellow peas. Relevance: GS III: Indian Economy Dimensions of the Article: Current Status of Pulses in India Overview: Imports […]
Bitcoin Halving: An Overview
Context: The cryptocurrency community is gearing up for the upcoming Bitcoin halving event, which is likely to be held this weekend. Relevance: GS III: Indian Economy Dimensions of the Article: Bitcoin Halving: An Overview How Does Bitcoin Halving Occur? Blockchain Technology and Mining: Halving Mechanism: Impact on the Crypto Market: Scarcity and Price Pressure: Potential […]
Global Financial Stability Report 2024
Context: The International Monetary Fund (IMF) has released the Global Financial Stability Report 2024, focusing on ‘The Last Mile: Financial Vulnerabilities and Risks.’ The report cautions about the risks to the global financial system stemming from persistent high inflation, escalating lending in the unregulated credit market, and growing cyber-attacks targeting financial institutions. Relevance: GS III: […]
Tamil Nadu’s Economic Transformation Driven by Diversification and Industrialization
Context: Tamil Nadu’s economic landscape is experiencing a substantial transformation, transitioning from its traditional agricultural base to a more diversified and industrialized economy. This shift is primarily attributed to the rise of cluster capitalists and ‘entrepreneurs from below,’ who are spearheading growth across various industry sectors. Relevance: GS III: Indian Economy Dimensions of the Article: […]
CBDT Signs 125 Advance Pricing Agreements in FY 2023-24
Context: The Central Board of Direct Taxes (CBDT) has achieved a significant milestone by signing 125 Advance Pricing Agreements (APAs) during the fiscal year 2023-24. Relevance: GS III: Indian Economy Dimensions of the Article: What is an Advance Pricing Agreement (APA)? Definition: Purpose: Contribution to Ease of Doing Business: Voluntary Process: Duration: Data Protection: Types […]
Gold Price Dynamics and Correlations
Context: Recently, Global price of gold (24 carat) was $2,349.88 per ounce. In India it was ₹7,174 per gram. Relevance: GS III: Indian Economy Dimensions of the Article: Gold Price Dynamics and Correlations Current Gold Prices: Recent Trends: Correlation Factors: Reasons for Correlations: Factors Determining Global Gold Prices Supply Side Factors: Demand Side Factors: Determinants […]
About Settlement in Indian Rupees (SRVA)
Context: India has simplified the payment mechanism for traders importing pulses from Myanmar, requiring them to use the Rupee/Kyat direct payment system through the Special Rupee Vostro Account (SRVA) through the Punjab National Bank. Relevance: GS III: Indian Economy Dimensions of the Article: About Settlement in Indian Rupees (SRVA) Overview Objective Regulatory Approval Functioning of […]
What are Green Bonds?
Context: Recently, the Reserve Bank of India (RBI) green lighted investments in the country’s Sovereign Green Bonds (SGrBs) by Foreign Institutional Investors (FIIS). Relevance: GS III: Indian Economy Dimensions of the Article: What are Green Bonds? Why are these bonds important? How beneficial is it for investors? What is the difference Between SGB and Other Bonds? Risks […]