India’s Fiscal Federalism
Context In today’s fiscal policy, the objectives of the founding fathers — tackling socio-economic imbalances — have been neglected. Relevance GS Paper 3: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Mains Question Discuss the need for, and methods for, redefining India’s fiscal architecture in order to strengthen fiscal […]
Has The Recession Started?
Context According to one widely accepted definition, the US economy is on the verge of a recession. However, that is not the definition that is important. The government estimates the gross domestic product for the April-June period on Thursday, and some economists believe it will show that the economy shrank for the second consecutive quarter. […]
FDI in Defence Sector
Focus: GS-3 Indian Economy Why in News? The Government of India revised the FDI polic in 2020 and the total FDI inflow reported till May, 2022 is approximately Rs. 494 Crores. The GoI in 2020, has liberalised and allowed FDI under automatic route up to 74% and up to 100% through Government route wherever it […]
Declining Value of Euro
Context The euro recently reached parity with the US dollar. In other words, one euro became equal to one US dollar in terms of the exchange rate. The Euro is the European Union’s currency and monetary unit, represented by the € symbol. It is the official currency of the EU’s 19 member countries. Relevance GS […]
Weak Insolvency Regime?
Context The Supreme Court recently ruled that Section 7(5) (a) of the Insolvency and Bankruptcy Code (IBC) grants the adjudicating authority, i.e. the National Company Law Tribunal (NCLT), discretionary power to admit an application under the Code by a financial creditor for the initiation of a corporate insolvency resolution process (CIRP). With its aforementioned finding, […]
Ude Desh Ka Aam Naagrik (UDAN)
Focus: GS III- Indian Economy Why in News? Annual passenger traffic increased from 2.6 lakh to 33 lakh in five years under UDAN Scheme About Ude Desh Ka Aam Naagrik (UDAN): Nodal: Ministry of Civil Aviation (MoCA) It is an innovative scheme to develop the regional aviation market. Objective: To create affordable yet economically viable and […]
About FAME-II
Focus: GS III- Indian Economy (Infrastructure) Why in News? The Ministry of Heavy Industries has sanctioned 2,877 Electric Vehicle Charging Stations in 68 cities across 25 States/UTs under Phase-II of FAME India (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India). About FAME-II FAME India is a part of the National Electric Mobility […]
RBI Seeks Ban on Cryptocurrency
Context: The Reserve Bank of India (RBI) has recommended a ban on cryptocurrencies citing ‘destabilising effects’ for the country’s monetary and fiscal health. China has declared all cryptocurrency transactions illegal, effectively imposing a complete ban, whereas El Salvador has permitted Bitcoin as legal tender. Relevance: GS III- Indian Economy Dimensions of the Article: What is the state […]
The Rupee Fall: Where It Is Heading
Context When the rupee depreciates, buying (importing) something from outside India becomes costlier. But if one is trying to sell (export) goods and services to the rest of the world (especially the US), a falling rupee makes India’s products more competitive. Relevance Mains GS Paper III: Fiscal policy, Monetary policy, Impact of free fall of the […]
What is Goods and Services Tax (GST) ?
Focus: GS II- Indian Economy Why in News? Customers will have to pay a 5% Goods and Services Tax (GST) on pre-packed, labelled food items such as atta, paneer and curd, besides hospital rooms with rents above ₹5,000. What is GST? GST is a destination-based indirect tax and is levied at the final consumption point. […]