On Budget Allocation for the Ministry of Science and Technology
Context The Union Ministry of Science and Technology will receive Rs 16,361 crore from the Center, which represents just 0.36 percent of the total Union Budget for 2022–23. Relevance: GS Paper-3: Indian Economy and issues relating to Planning, Mobilization of Resources; Government Budgeting; Science and Technology- Developments and their Applications and Effects in Everyday Life Mains […]
Urban Infrastructure Development Fund (UIDF)
Context: Finance Minister recently announced that government will set up an Urban Infrastructure Development Fund (UIDF) of Rs 10,000 crore per year for creating infrastructure in Tier-2 and Tier-3 cities. Relevance: GS III: Indian Economy Dimensions of the Article: Urban Infrastructure Development Fund (UIDF) Classification of Cities: Rural Infrastructure Development Fund (RIDF) -Source: The Hindu
Additional Surveillance Mechanism
Context: Recently, The National Stock Exchange (NSE) placed Adani Enterprises, Adani Ports, and Ambuja Cements under the additional surveillance mechanism (ASM), Reuters reported. This means trading in their shares will require a 100% margin, which is aimed at curbing speculation and shortselling. Relevance: GS III: Indian Economy Dimensions of the Article: Additional Surveillance Mechanism (ASM) […]
What Is Angel Tax?
Context: A recently proposed detail has Indian start-ups worried. These new age firms, that offer their shares to foreign investors, may have to pay ‘angel tax’, which was earlier only supposed to be paid for investments raised by resident Indian investors, as per a motion made in the Finance Bill, 2023. Relevance: GS III: Indian […]
New Policy of UPI for NRIs
Context: Recently, the National Payments Corporation of India (NPCI) paved the way for international (phone) numbers to be able to transact using UPI. Relevance: GS III: Indian Economy Dimensions of the Article: UPI Transactions for Non-Resident Accounts Definition of NRE and NRO Accounts: Benefits: Technological Changes: Discussion on Merchant Discount Rate (MDR) Concerns: What is […]
What is a unity mall?
Context: Finance Minister announced in the Budget that states would be encouraged to set up a “Unity Mall” in their capitals, their most prominent tourism centres, or their financial capitals. Relevnace: GS III: Indian Economy Dimensions of the Article: What is a unity mall? Ekta Mall: What is ODOP? What is GI? -Source: Indian express
New Tax Regime
Context: Finance Minister made five major announcements on personal income tax to benefit the “hard-working” middle class. She also said that while the new tax regime would be the default, tax payers could opt for the old one. Relevance: GS III: Indian Economy Dimensions of the Article: Details: New income tax slabs The new income […]
World Economic Outlook
Context: In its January update of the World Economic Outlook (WEO) report, the IMF has marginally improved the forecast for global growth in 2023 — a relief, given the fears of a global recession in 2023. The turnaround reflects “positive surprises and greater-than-expected resilience in numerous economies”. Relevance: GS III: Indian Economy Dimensions of the […]
Economic Survey 2023- Key Takeaways
Context: Recently, the government tabled the Economic Survey 2022-23. The Survey laid out the outlook for India’s growth, inflation and unemployment in the coming years. Relevance: GS III: Indian Economy Dimensions of the Article: What is the Economic Survey? What are the main takeaways this year? GDP growth: Inflation: Unemployment: Outlook for 2023-24 What does […]
World Economic Situation and Prospects 2023
Context: Recently, the United Nations has released a new report World Economic Situation and Prospects 2023, which stated that the Global Gross Domestic Product (GDP) is likely to drop to 1.9 % in 2023 from 3 % in 2022. Relevance: GS III: Indian Economy Dimensions of the Article: Report Findings: Inflation Recession Global Output Country […]