Addressing The Digital Tax Challenge
Context Over the past four years, 137 countries have engaged intensively with the OECD to find a solution to the tax challenges arising from digitalization. Like any international agreement, finding a middle ground has been difficult and a series of compromises have been made. Relevance GS-III: Indian Economy and issues relating to Planning, Mobilization of […]
Special Purpose Acquisition Companies
Context: The government is reportedly considering a regulatory framework for special purpose acquisition companies (SPACs) to lay the ground for the possible listing of Indian companies through this route in the future. According to reports, the Company Law Committee, which was set up in 2019 to make recommendations to boost ease of doing business in […]
Freebies are a Passport to Fiscal Disaster
ontext Against the backdrop of promises of freebies in Punjab, this article deals with the harm caused by such freebies to the economy, life quality and social cohesion in the long run. Relevance GS-III: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment Dimensions of the Article Macroeconomic Stability of the Union […]
Ude Desh Ka Aam Naagrik (UDAN)
Focus: GS III- Indian Economy Why in News? The Ministry of Civil Aviation (MoCA) flagship Regional Connectivity Scheme UDAN (UdeDeshkaAamNagrik) has been awarded Prime Minister’s Award for Excellence in Public Administration 2020 under the category “Innovation (General) – Central”. About Ude Desh Ka Aam Naagrik (UDAN): Nodal: Ministry of Civil Aviation (MoCA) It is an innovative […]
Cryptos and CBDCs are not the same thing
Context Cryptocurrency will be discouraged via taxation and capital gains provisions. This was the message from the Finance Minister during the Budget discussion in Parliament. Relevance GS-III: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Dimensions of the Article Growing worry about the Cryptocurrencies Crypto as Currency Why CBDC is not […]
RoDTEP Scheme
Context: Recently, the government had left out sectors such as iron and steel, chemicals and pharmaceuticals, from the Remission of Duties and Taxes on Export Products (RoDTEP) scheme. These sectors were omitted from the scheme, as iron and steel were ‘already booming’ and the pharma industry’s business had also increased during the pandemic. Relevance: GS-III: Indian Economy (Growth and Development of Indian Economy, Taxation) […]
The Process of Cartelization
Context Competition Commission of India (CCI) has fined 11 firms for of bid rigging, cartelization in Indian Railways tenders. Relevance GS-III: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Dimensions of the Article What is a Cartel? What is Cartelization? Philosophy behind How do they work? How do cartels hurt? Are […]
Confidentiality Ring Amendment and Its Impact on Antitrust Disputes
Context Amazon (the defendant) decided to take the confidentiality route towards its submissions in an order dated March 7 passed by the DG-CCI on the Amazon dispute. Relevance GS-III: Indian Economy and issues relating to Planning, Mobilization of Resources, Growth, Development and Employment. Dimensions of the Article About the Confidentiality Ring Adoption of Confidentiality ring by CCI […]
What Are Oil Bonds?
Context: Over the last one year, as retail prices of petrol, diesel and other petroleum products have surged, the government has attracted criticism. On several occasions, Finance Minister has sought to counter such criticism by claiming that the current government cannot bring down taxes (and, as a consequence, prices) because it has to pay for the oil bonds […]
Understanding the Sovereign Debt Crisis in Sri Lanka
Context: Recently, The Sri Lankan government decided to default on all its foreign debt worth $51 billion as it awaits financial assistance from the International Monetary Fund (IMF). The government stated that it took the decision to preserve its dwindling foreign reserves to pay for the import of essential items. Ratings agencies such as Fitch, […]