World Development Report 2024
Context: A recent World Bank report titled “World Development Report 2024: The Middle Income Trap” has highlighted significant challenges faced by over 100 countries, including India, in achieving high-income status in the coming decades. Relevance: GS III: Indian Economy Dimensions of the Article: Key Insights from World Development Report 2024 Economic Status and Transition Challenges Transition to High-Income Status […]
India’s Abolition of Angel Tax
Context: Union Finance Minister Nirmala Sitharaman, in her seventh Budget, has proposed the abolition of the Angel Tax, marking a significant step towards strengthening the Indian startup ecosystem. This tax had been a longstanding contentious issue between startups and the Income Tax Department, serving as a major obstacle to growth and investment. Relevance: GS3- Mains Question: […]
Counting the Poor Having Nutritional Deficiency
Context; The National Sample Survey Office recently published a comprehensive report from the Household Consumption Expenditure Survey (HCES): 2022-23. Alongside the report, the unit-level data on household consumption expenditure (HCE) is accessible to the public. Relevance: GS3- Inclusive Growth and issues arising from it. Mains Question: Implementing nutritional schemes targeted at the poorest of the poor significantly […]
India’s Population and Sustainability
Context: There is much discussion and debate surrounding India’s immense population. Many are expressing concerns that this growing population could become a significant challenge for the nation’s future. As of January 2024, India’s population stood at 1.44 billion and has likely increased slightly since then. Over the past decade, the population has been expanding at a […]
Report on Currency and Finance
Context: The Reserve Bank of India (RBI) released the Report on Currency and Finance (RCF) for the year 2023-24 with the theme – India’s Digital Revolution. Relevance: GS III: Indian Economy Dimensions of the Article: India’s Digital Revolution – Key Highlights Significance of Digitalisation in India’s Financial Sector Challenges Posed by Digitalisation in Finance Remittances in […]
Surge in Tax Concessions for Political Donations
Context: Recent financial data shows a notable increase in tax concessions for donations to political parties, with nearly Rs 4,000 crore granted in the fiscal year 2022-23. This rise underscores the growing trend of using tax deductions to support electoral funding and highlights broader shifts in political finance and its impact on fiscal policy. Relevance: […]
Impatience With Jobs
Context: A major focus of this Budget speech is the change in approach toward employment, with a noticeable increase in its mentions. “Employment” was the central theme of the Budget, highlighting the Prime Minister’s package aimed at facilitating jobs and skills as a top priority. The proposed ₹2 lakh crore package aims to assist 4.1 crore youth over […]
Budget 2024: A Blueprint for Long-Term Growth
Context: In a crucial move to bolster India’s economic strength, the Union Budget for the fiscal year 2024-25 has taken major steps to ensure the continuity of progressive reforms. There is excitement in the MSME, E-commerce, and start-up sectors, which have received additional support as the nation advances toward the goal of a Viksit Bharat. Relevance: Mains […]
MEA’s Development Assistance Plans in Union Budget 2024-25
Context: In the recently announced Union Budget 2024-25, the Ministry of External Affairs (MEA) has outlined its development assistance plans, focusing on strategic partners and neighbouring countries. This initiative aims to promote regional connectivity, cooperation, and stability in line with India’s Neighbourhood First Policy. Relevance: GS III: Indian Economy Dimensions of the Article: Distribution of […]
About The Angel Tax
Context: Recently, the Union Minister for Finance proposed to abolish ‘angel tax’ for all classes of investors, while presenting the Union Budget 2024-25 in Parliament. Relevance: GS III: Indian Economy Angel Tax Definition: Legal Basis: Tax Rate: Exemption for Startups (2019): Investor Conditions: Purpose: -Source: The Hindu