TOXIC DISASTER: SAFETY PARAMOUNT WHEN EXITING LOCKDOWN
Why in news? The disastrous leak of a toxic chemical that has killed several people and left hundreds sick near Visakhapatnam in Andhra Pradesh comes as a shock to a nation struggling to cope with a prolonged lockdown. Styrene, the chemical involved is included in the schedule of the Manufacture, Storage and Import of Hazardous Chemical […]
WHY LIQUOR SALES MATTER TO STATES?
Why in news? Following the easing of restrictions in the third phase of the nationwide lockdown, some of the most striking images on 4th May showed long queues outside liquor stores around the country. Manufacture and sale of liquor is one of the major sources of their revenue. How do states earn from liquor? Liquor […]
PATHWAYS TO A MORE RESILIENT ECONOMY
7 radical ideas emerging to build a more resilient economy “De-Growth”: The obsession with GDP as the supreme goal of progress has been challenged often- Goals for human progress must be reset. “Sufficient boundaries”: Boundaries impede flows of trade, finance, and people- removing boundaries is good for global growth. However, since countries are at different stages of […]
BOOST WAGES TO STIMULATE INDIA’S GROWTH
Why in news? One of the moving images from today’s India is of migrant workers suddenly feeling desolate in their places of work and desperate to return to their villages, in the aftermath of the COVID-19 outbreak. We need to plan for an economic growth driven by rising. Patchy data As per 2018 data: Out […]
SECOND TRANCHE OF ECONOMIC STIMULUS PACKAGE
Why in news? The major focus of the second tranche of the economic stimulus package announced on 14th May 2020 is to provide free food grains for the next two months to migrant workers who do not have ration cards. The Centre will help create affordable rental housing for the urban poor and provide relief worth […]
LOW-COST ‘FELUDA’ TEST
Why in news? An accurate and low-cost strip test called “Feluda” that can detect the coronavirus disease within one hour is expected to be available for the first phase of testing by July 2020. Called Feluda, the test is named after a fictional detective created by the late Satyajit Ray – and it is also an acronym for FNCAS9 […]
NEW MSME DEFINITION WITHOUT AMENDING LAWS
Why in news? The definition of Micro, Small and Medium Enterprises (MSMEs) was redefined on the basis of investment limit and turnover size. What has changed in the Definition of MSMEs? Earlier, the MSMEs were defined on the basis of investments put in, now the revised definitions will also include turnover of the company. There […]
MAJOR STIMULUS PACKAGE FOR MSMES, TDS AND TCS REDUCED
Why in news? The Union Finance Minister on 13th May 2020, announced a Rs. 3 lakh crore collateral free loan scheme for businesses, especially micro, small and medium enterprises (MSMEs), as part of a Rs. 20-lakh-crore economic stimulus package to deal with the COVID-19 pandemic. The rates of tax deduction at source (TDS) and tax collection […]
GOVT. IDENTIFIES SECTORS FOR TAX SOPS
Why in news? The government has identified close to a dozen sectors, ranging from capital goods, defence, pharma and electronics to labour-intensive ones such as textiles and food where it is considering proposals for tax concessions. It is also pushing for land and procedural reforms to attract investment as part of a goal to be […]
FAC ON DIBANG VALLEY PROJECT AND AMRABAD TIGER RESERVE
Why in news? The environment ministry’s Forest Advisory Committee (FAC) has deferred its decision on granting forest clearance to: Hydropower Project in Arunachal Pradesh’s Dibang Valley The exploration of Uranium in Telangana’s Amrabad Tiger Reserve Details An FAC subcommittee report on April 21 recommended that the Etalin Hydroelectric Project, which will involve clearing 270,000 trees, be […]