PANDEMIC WILL DEEPEN JOB AND LIVELIHOOD CRISIS OF MIGRANTS
Why in news? Migrant workers, who constitute about 50% of the urban population and many of whom are engaged in what are called “3D jobs” (dirty, dangerous and demeaning) are likely to face job and livelihood crisis owing to COVID-19 pandemic, according to findings of a research. Details of how grave the situation is? The […]
CENTRE SHOULD ACT NOW ON FRANKLIN TEMPLETON ISSUE
Why in news? The government was urged to act swiftly, before the markets reopen on 27th April, to resolve the situation created by Franklin Templeton Mutual Fund’s decision to wind up six debt schemes. Background about the Franklin Templeton crisis Franklin Templeton Mutual Fund’s decision to wind up six debt schemes is a matter of grave […]
NO PLAN TO EASE FISCAL DEFICIT TARGETS
Why in news? Despite the strain on government finances due to the COVID-19 pandemic, there is no credible proposal to amend the legislation meant to control the fiscal deficit, Chairman of the 15th Finance Commission said. Speaking to presspersons after a two-day meeting of the Commission’s Economic Advisory Council said the government was currently looking […]
RBI TO RESTART OPERATION TWIST TO MANAGE YIELDS
Why in news? The Reserve Bank of India (RBI) has announced simultaneous purchase and sale of government bonds in a bid to soften long-term yields. The central bank will buy ₹10,000 crore of bonds maturing between 2026 and 2030 and sell the same number of T-bills. Details On a review of current and evolving liquidity […]
ITAT HOLDS HEARING THROUGH VIDEO CONFERENCING
Why in news? A division bench of the Income Tax Appellate Tribunal (ITAT) through web-based video conferencing platform, heard and disposed of an urgent stay petition on 24th April 2020. It was the first time ever that hearing was done through video conferencing. The ITAT benches based in 27 locations are equipped to hold similar hearings […]
15TH FINANCE COMMISSION HOLDS MEETING WITH ITS ADVISORY COUNCIL
Why in news? The Fifteenth Finance Commission (XVFC) had online meetings with its Advisory Council on 23-24 April, 2020 and discussed various issues confronting the Commission now. What transpired in the meeting? In the meeting all of them were unanimous to suggest that the projections of real GDP growth made before March 2020 need to […]
PAPERLESS LICENSING FOR PETROLEUM SERVICE STATIONS
Why in News? The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry has launched paperless licensing process through Petroleum and Explosives Safety Organisation (PESO) for petroleum service stations (retail outlets storing and dispensing petrol/diesel for motor conveyances) under the Petroleum Rules, 2002. This initiative for petroleum pump licensing is […]
CBDT REVISING RETURN FORMS
Why in news? In order to enable income taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to Covid-19 pandemic situations, the CBDT is revising the return forms for FY 2019-20 (Assessment Year 2020-21). CBDT The Central Board of Direct Taxes (CBDT) is a Statutory Body functioning under […]
WHY GOLD PRICES HAVE BEEN RISING BEFORE AND DURING COVID-19?
Introduction to rising Gold Prices Much before Covid-19’s impact reverberated across economies and led to a crash in global stock markets, gold prices had started their upward glide since May 2019 to culminate into a nearly 40 per cent jump in less than a year. The present gold prices in India are even higher, as […]
SERVICES AT OUR DOORSTEP: DELIVERY WORKERS ARE THE NEW FRONT-LINE FORCE
Why in news? The ‘ferrymen’ of Wuhan, who have been providing groceries, food and medicines to citizens isolated in their homes, have been the backbone of cities that have been most hit by the novel coronavirus. Delivery infrastructure or digitally enabled micro-logistics are key to how citizens navigate their ‘social distanced’ lives during the pandemic. […]