What is Angel Tax?
Context: The Finance Bill 2023 has proposed some changes that will remove the exemption for foreign funds and non-resident investors, who will now have to pay Angel Tax on the difference between capital raised and the fair value of securities sold. Relevance: GS III: Indian Economy Dimensions of the Article: Angel Tax Why is Angel Tax Problematic? CBDT Notification on Angel Tax […]
GST Council 49th Meet
Context: Recently, the Goods and Services Tax (GST) Council in its 49th Meeting has reached consensus on the constitution of the GST Appellate Tribunal to resolve the rising number of disputes under the old indirect tax regime. Relevance: GS III- Indian Economy Dimensions of the Article: The key highlights of the GST meeting are: What […]
Special Rupee Vostro Accounts Arrangement
Context: Recently, government officials informed that 20 Russian banks, including Rosbank, Tinkoff Bank, Centro Credit Bank and Credit Bank of Moscow have opened Special Rupee Vostro Accounts (SRVA) with partner banks in India. Relevance: GS III: Indian Economy Dimensions of the Article: What is the SRVA arrangement? The SRVA arrangement is a supplementary system to […]
Utilizing Village Potential to Promote Rural Tourist Destinations
Context Agritourism, art and culture, ecotourism, wildlife, tribal tourism, and homestays are six niche experiences for visitors who want to travel to rural India that have been identified by the Central Nodal Agency for Rural Tourism and Rural Homestays (CNA – RT and RH), the coordinating body between the Center, States, and other stakeholders. Relevance […]
Draft RBI (Government Securities Lending) Directions 2023
Context: Recently, the Reserve Bank of India released Draft Reserve Bank of India (Government Securities Lending) Directions, 2023. Relevance: GS II: Indian Economy Dimensions of the Article: About Draft Reserve Bank of India (Government Securities Lending) Directions, 2023 What are G-Sec yields? -Source: Economic Times
UPI-PayNow linkage
Context: India’s real-time retail payment system Unified Payments Interface (UPI), which has allowed for quick digital payments through apps like BharatPe and Paytm, and its equivalent network in Singapore called PayNow, will be integrated to enable faster remittances between the two countries at a competitive rate. Relevance: GS III: Indian Economy Dimensions of the Article: […]
To Navigate Our Challenges And Opportunities
Context: Global events can either act as headwinds that make things harder or tailwinds that open up new opportunities in the globalised world, where success and failure are not always limited by national boundaries. Similar turbulent geopolitical and economic conditions that are affecting the rest of the world will soon affect India. Policies that aim […]
India Wants $5 Billion In Defence Exports By 2025
Context The Prime Minister recently announced plans to increase annual defence exports to $5 billion over the following two years, as arms companies flocked to a significant air show in an effort to cut into the nation’s massive import budget. Relevance: GS Paper-3: Effects of liberalization on the economy, changes in industrial policy and their effects […]
What is a Windfall Tax?
Context: Recently, the Union government hiked the windfall profit tax levied on domestically-produced crude oil as well as on the export of diesel and aviation turbine fuel (ATF). Relevance: GS III: Indian Economy Dimensions of the Article: What is a windfall tax? Why are countries levying windfall taxes now? What are the issues with imposing […]
Vibrant Village Programme
Focus: GS III- Indian Economy (Infrastructure) Why in News? The Union Cabinet, chaired by the Hon’ble Prime Minister, has approved Centrally Sponsored Scheme- “Vibrant Villages Programme” (VVP) for the Financial Years 2022-23 to 2025-26 with financial allocation of Rs. 4800 Crore. About Vibrant Village Programme Focus areas: Need of such scheme: